Please tell me why. Most crypto currencies will fail, but not all of them. It is a real technical invention that let’s us get completely rid of of the middleman. Money governed by rules instead of rulers.
The reason why I even looked at Bitcoin was not because number go up, but because I wanted to find an open source alternative to the current payment systems that are mainly controlled by two large companies. I control as much of my devices as I can by using free and open source software. But for some reason that seemed impossible for the most critical applications, which is control over your finances.
Bitcoin is pure open source money. It’s simply a protocol, you could write your own software to interact with the network, without having to ask for permission. I find that fascinating and I think it’s built to last.
And I don’t have to believe in it, I can see it working. Bitcoin will not be used as money for a long time probably (sad for my, because that was the use case I was looking for), it’s just too volatile for that. But it’s use as global payment rails is already getting adopted. It is already enough capitalized that it works. Adoption as a monetary network will not happen by users but by companies, people will not even know it’s used in the background if they send their dollars around the world.
It’s actually a complete no-brainer. SWIFT and similar global banking rails take days to weeks to clear and have horrible fees at times. Bitcoin with Lightning clears instantly anywhere on the planet ( probably even works a couple light minutes away ) at basically zero cost. And volatility simply doesn’t matter for that use case, because it’s simply used as a bearer asset for seconds at times.
Most of the crypto people are complete idiots. The idiocy that grows in this “tech sector” is beyond believe. I can’t wait for the bear market when that ■■■■ all gets slashed again and they all run away crying so the actual discussions about the technology doesn’t get drowned in “when moon?” posts.
The reason it won’t work is because it competes with the people in power. A decentralized protocol doesn’t bribe and threaten politicians the way banks do.
lol, no. I’m following bitcoin (and altcoin and other scam derivates) forums a lot and I have had years of fun watching “financial investors who say -because they are so required by law I guess- they are not really financial investors” try and talk themselves out of the fact that Bankster McBankface runs the crypto market but you are gullible to think “We, the people” run it. FED 2.0, with zero oversight.
The large cryptofarms, paid for by the fees people pay every transaction, are the middleman.
But keep going on as you do have some nice points, as always I’ll be watching from the sidelines.
That looks like magical thinking : If I say it enough, it will make me rich.
That’s because they have interest in other people buying their stuff. It’s not being naive : it’s having an interest in lying to other.
They made an investment, that could make them rich, if they can make other people believe that investing could make THEM rich.
It’s not a “sunck cost fallacy” : they have a real interest in deceiving other people. Like any pyramid scheme.
It does work, ask one of those “anonymous” VPN ‘powershield’ bitcoin promoting guys and tell them you want to support them and give them some bitcoin.
Using his wallet ID , Inform the IRS , tell them to verify all his transactions from https://www.blockchain.com/explorer and yes, he’s anonymous but as they tell you he gets goods from it it’s linked to a paypal or other identifyable real-word things and they can tax him. Works perfectly!
Also, did you ever wonder how many coins Chribba got through his webpage? None, all public info, bye privacy… bye anonimity… but yeah, can’t break the bitcoin encryption! #MuhSafety
Yeah, but they can’t get rid of it either. It’s too decentralized already. All they can do is declare access to the network illegal for their citizens and companies, therefor deny their financial sector the access to the instant global payment rails.
Even the US politicians have already realized that they would punish themselves by doing so. What they try to do is regulate access for corporations, because there they can set the demands. And that is a good thing, because those will be the new banks providing services on it and they need oversight.
The network itself doesn’t need oversight. It’s a protocol, it just lets people exchange Bitcoins with each other and it has some fixed rules how the supply enters circulation. There is nothing to regulate there.
Maybe you have to be clear what you are actually talking about. You somehow conflate manipulation of the price with control of the netwok. Those are different things. Bitcoin is just a 700 Bil market, most other crypto are far far less. It’s pretty obvious that people with a lot of money can manipulate the price. The more it grows the less they can do that, but it’s still pretty bad. But if you think that is just a problem of crypto markets then you probably haven’t payed a lot attention to virtually everything else.
If your only contact with the topic is youtubers who draw lines on charts or shill the latest shitcoin, then yeah I can absolutely see how you find that ■■■■ ridiculous. It is absolutely ridiculous. But the moonboy culture and shitcoin casino has little to do with the technology side of things. It’s as if you wanted to judge the viability of the TCP/IP protocol by judging ■■■■ people write on facebook.
No they are not. A middle men in a transaction is someone you have to trust for the transaction to happen. There is no such thing in a Bitcoin transaction. All the miner does is bring the transactions in a historical order to avoid double spend, and the whole point here is that this process doesn’t require any trust. PoW makes sure a miner is picked at random. The blocks they produce have to follow the rules or they will have wasted the energy mining it because all the nodes reject them as invalid.
Bitcoin is not encrypted, and no one actually said it is. It uses cryptography to prove ownership by verifying cryptographic signatures. It’s also not private or anonymous, and no one said it is. It’s pseudonymous, and best practices are to not reuse addresses to make it harder to link them together and more importantly for quantum resistance (spending an address reviles the public key).
But this is all only true for the Bitcoin base layer, which is a relatively expensive and slow way to do transactions. The Lightning Network on top changes this and makes payments private (and instant and basically free).
He doesnt want to believe, he wants to make it. He have to argue with everyone who is anti-crypto, or is in some way spreading FUD, else he will NGMI.
Typical shill behavior, when shill is invested, he have to battle everyone who is reducing hype and “adoption” rate. He doesnt have much choice, its a battle for survival for his mind integrity, integrity shaped by urges dictated by his greedy subconsciousness.
Its physical and mental attachment at this point. To Bitcoin. Certain neurons would need to be cut to change the outlook, so he could sell.
You got me on that one. Anyways, good having these discussions on the forums. The best informed person is one who has sen all sides of the conversation. Thanks for keeping everyone informed. I was just looking for a neat way to end my post.
Being on about it 24/7 makes one a shill. I just do what I do because I see shills doing what they do and I actually dislike shilling. It’s why shills will often times find me absent during their shills online. Shills also tend to work in groups and I often times find myself solo. This shows too when there is the false appearance of unanimous agreement when in a real world setting among a diverse group of people from differing backgrounds, a unanimous decision never occurs but when one sees it online between a circle jerk of shills, it’s becomes apparent what’s going on
Ok, I guess you are completely out of arguments if you are down to personal attacks only. Sadly that’s mostly how it ends with this discussion. You talk ■■■■ about a topic you know absolutely nothing about and when that becomes apparent in the discussion you are left with nothing but personal insults.
You should be ashamed of yourself.
Transactions consume no power. The production of valid blocks does and they get produced roughly all 10min with or without transactions happening. I’m sure you did read somewhere that Bitcoin uses a lot of power per transaction. And then they probably extrapolate that to scare you shitles with some big number if everyone would use it. They are lying.
It uses a lot of energy to mine the blocks and secure the network. And the on-chain capacity is limited to control the growth of the data and make sure it’s viable for everyone on the planet to run a node. But as I already mentioned, there is a second layer called Lightning and transactions there don’t go into the blockchain. On-chain transactions are used to establish payment channels and once such a channel is open, an unlimited amount of transactions can happen without any mining involved,
I didnt insult you. This is how you actually function. This is how everyone who invested in crypto or some other scam dependand on hype is functioning. Its a self regulating mechanism when your beliefs will follow your actions, this is how people with very emotional investment work. You got those emotions from all the rides like this one.
You will also not change your mind, you will only set yourself more in your opinion, doesnt matter how logical the arguments may be from other side.
This is how people function, they are predictable in that.
Those are not mutually exclusive. You can state fact and be insulting.
When your statement contains judgement , or can be perceived as, then you are conveying (potential) insults. eg if I say to someone she has small boobies, she will feel insulted, even if she does.
Even though you are right that people who made investments set themselves to hope for income, stating it is still an insult because it presents him as someone irrational. The reality is, that nobody is rational - some choices are.
So when you start to talk about the person, you are indeed making a personal attack. Even though I would tend to agree with you, the reason he makes those choices is not relevant to the rationality of those choices. He can be a very irrational person, and still make rational choices.
My intention was to explain that behavior. Nothing that isnt true. You can hear people reacting very emotionally when something is said about them that is true, it makes them feel vulnerable when they are wrong in their self-insight and they dont accept themselves.
People should stop lying to themselves. Accept who they are and go on, focusing on their best assets.
BTW, bitcoin is not the best asset, its a speculation token, that promotes gambling behavior. If someone cant sell it and accept the gains, and go use that gains to do something good to him/herself, they are loosing with their greed. I know, because I am not very different.
I gambled, I invested, and I know all those feelings.
With enough time someone just realizes that money is not everything and you have to do something with that thing.
There were super rich people in the past who did what? Funded a lot for other people, to become more like them, more enlighted, more consious, and not hungry for more money. Because money isnt everything.
Scroll back and read our conversation. It seems I’m the one here who actually knows something about the topic and you are the one just uttering some believes of yours that are all based on hearsay.
Everything you say is based on the believe that it is a scam. You can’t even entertain the thought that maybe there is something useful to this technology. That’s why you just ignore arguments that completely shatter your position and you have no answer to. And that is why you are now talking about me and make up some ■■■■ about why I talk favorably about Bitcoin, because it became clear to you that you can’t win any argument about the actual topic.
I’m absolutely open to change my mind on the topic. I don’t think in absolutes and I don’t know the future and how this plays out. I just have expectations based on things I understand or think I understand. And I actually appreciate if people point out actual flaws in what I say, but that is not what is happening here. You state utter nonsense, I correct you and even explain why you are wrong, and instead of arguing why I’m wrong you just project some behavior of some other people you have seen somewhere on to me and then attack that.
It’s weak and you should still be ashamed of yourself
Its common knowledge at this point that what bitcoin promises did not come true, and will not come true. Its a gambling token at this point and everything surrounding it is in fact a high stakes gambling, with invested people who have a lot manipulating it. It is not really hard to see. But you have to not have emotional baggage completely obstructing the acceptance of a fact. Which is a mechanism known also to exist. I used to gamble and seen nothing wrong with it, but when I stopped I saw the ugly side of it.
You would have to move away yourself from some things to actually stand aside and see it from all sides.
) at basically zero cost. And volatility simply doesn’t matter for that use case, because it’s simply used as a bearer asset for seconds at times.
