you are clueless. i promise you i will mine bitcoin and create transactions - one guy is enough. also i promise i will buy all the bitcoins before it hits zero.
there already is bytecoin and it is shit. your coin is shit squared. nobody is interested in shitcoins. crypto will start do be deflationary soon when people realize you can create coins out of thin air but they are worth zero because the market is already mature enough
I think they do influence the price but only make the price higher (look at the initial reaction on AMD stock) in this ridiculous melt-up we are witnessing #BTFD
maybe he is just saying that this discussion sucks, have similar experience and read slashdot 15+ years. good comments get downvoted by either stupidity or paid trolls - mostly interesting things are difficult to understand and there is zero tolerance for that here, seems like AI thinking in easily recognizable templates only.
No, intrinsic value means "I can burn these dollar bills to kindle a fire" or "I can melt these coins down and make nails out of them". The exchange value is extrinsic - it comes from outside the currency itself. It comes from the other man who is willing to trade for them.
So crypto has intrinsic value? Because you can execute code in a smart contract, store files or other use crypto blockchain applications - makes even more sense than melting gold for nails or jewellery.
1) there are so many startups working on different blockchain products that we will have to wait and see what comes out of it
2) already answered in parallel thread - bitcoin cannot be blocked while banks do block transactions so you cannot spend anywhere you like
3) there is no counterparty risk like with a bank where you loose your money. if you need fraud protection as a buyer, you can easily pay for escrow service - paypal or other company will integrate bitcoin and provide such services.
nope, i live in a western country with modern democracy. i will give you examples: when you want to withdraw cash, you have to notify beforehand because they really don't have the cash on hand and also you have to tell them the reason why are you withdrawing. when you receive larger than normal sums of money, you will be questioned - account freeze is possible. if you want to wire money to bitcoin exchange, you can't do so with some banks. the recent news is VISA is cancelling debit cards funded by bitcoin. and so on... you can also loose "your" money because the bank goes belly up - bail-in laws are already in place in EU. go figure...
1) it's a decentralized database 2) no banker telling you what you can do with your money + no counterparty risk. lookup up fiat money and the central banking scam.
https://en.wikipedia.org/wiki/...
The first very early solution is from 1999.
Refer to the Byzantine Generals' Problem. What applications does this thing brings except Bitcoin as money (which is a huge thing in itself) we will start to see I think in late 2018 after all those ICO blockchain companies start to release products and also Ethereum network scales to be actually useable for all those apps.
You don't understand what a blockchain is because you don't understand the meaning of decentralised consensus. This is not some dumb database replication. It has great advantages and use cases but most of the time a centralised solution should probably be preferable - ok, but that doesn't diminish the greatness of the invention.
This is actually spot on. I mean blockchain and Bitcoin is great, no doubt about it. But the meteoric rise can only be explained by the lack of alternative. Lots of cheap credit and bullshit flying around so crypto is actually a sensible bet for a lot of people who are starting to understand.
Scaling Bitcoin doesn't have anything to do with mining power. Mining secures the network regardless of transaction size, it's just about security which was never a problem with Bitcoin.
This is the old argument used in the gold vs fiat discussions.
It is ridiculous.
People looking for store of value like gold don't give a shit about buying beers in some american bar with gold coins. They can buy lots of shitty US paper loosing value every day with their gold and give you plebs the paper you are so much keen on.
With Bitcoin it is exactly the same and can pay even with Dogecoins if you fancy it.
gold is money - it can be digitized and serve as a good currency medium. we are not in the olden days where you actually have to deal with physical coins.
the idea is to have gold stored safely and trade backed digital tokens frictionlessly (on the blockchain of course)
How exactly is a currency more reliable when there is additional counterparty risk?
why couldn't a local repair shop accept bitcoin instead of my euros?
are you aware you can actually send fractions of Bitcoin?
Slashdot Mirror
you are clueless. i promise you i will mine bitcoin and create transactions - one guy is enough. also i promise i will buy all the bitcoins before it hits zero.
JP Morgan and friends are not done shorting and buying the bottom - don't worry, they will allow it once they're done.
there already is bytecoin and it is shit. your coin is shit squared. nobody is interested in shitcoins. crypto will start do be deflationary soon when people realize you can create coins out of thin air but they are worth zero because the market is already mature enough
not exactly - i want to be able to say which are my authorities I trust first - then I can rely on my choosen authority to do the censorship I prefer
lol, where are you from? do they torture if they find fiat or gold? you a moron a bit?
it actually is an excellent investment because at least dark market will embrace it - you are just being dumb and narrow thinking
I think they do influence the price but only make the price higher (look at the initial reaction on AMD stock) in this ridiculous melt-up we are witnessing #BTFD
maybe he is just saying that this discussion sucks, have similar experience and read slashdot 15+ years. good comments get downvoted by either stupidity or paid trolls - mostly interesting things are difficult to understand and there is zero tolerance for that here, seems like AI thinking in easily recognizable templates only.
but racism does. please stop posting this shit
nonsense, they use payment processor - they never touch Bitcoin, they receive USD
You can build smart contracts on Bitcoin via Counterparty but with such slow blockchain it is quite useless for most applications.
No, intrinsic value means "I can burn these dollar bills to kindle a fire" or "I can melt these coins down and make nails out of them". The exchange value is extrinsic - it comes from outside the currency itself. It comes from the other man who is willing to trade for them.
So crypto has intrinsic value? Because you can execute code in a smart contract, store files or other use crypto blockchain applications - makes even more sense than melting gold for nails or jewellery.
1) there are so many startups working on different blockchain products that we will have to wait and see what comes out of it 2) already answered in parallel thread - bitcoin cannot be blocked while banks do block transactions so you cannot spend anywhere you like 3) there is no counterparty risk like with a bank where you loose your money. if you need fraud protection as a buyer, you can easily pay for escrow service - paypal or other company will integrate bitcoin and provide such services.
in the US you can't even carry too much money on you because it can be legally seized if the cop wishes so. madness.
nope, i live in a western country with modern democracy. i will give you examples: when you want to withdraw cash, you have to notify beforehand because they really don't have the cash on hand and also you have to tell them the reason why are you withdrawing. when you receive larger than normal sums of money, you will be questioned - account freeze is possible. if you want to wire money to bitcoin exchange, you can't do so with some banks. the recent news is VISA is cancelling debit cards funded by bitcoin. and so on... you can also loose "your" money because the bank goes belly up - bail-in laws are already in place in EU. go figure...
1) it's a decentralized database 2) no banker telling you what you can do with your money + no counterparty risk. lookup up fiat money and the central banking scam.
https://en.wikipedia.org/wiki/... The first very early solution is from 1999. Refer to the Byzantine Generals' Problem. What applications does this thing brings except Bitcoin as money (which is a huge thing in itself) we will start to see I think in late 2018 after all those ICO blockchain companies start to release products and also Ethereum network scales to be actually useable for all those apps.
You don't understand what a blockchain is because you don't understand the meaning of decentralised consensus. This is not some dumb database replication. It has great advantages and use cases but most of the time a centralised solution should probably be preferable - ok, but that doesn't diminish the greatness of the invention.
Why exactly? With hardware wallets it should be 100% secure.
This is actually spot on. I mean blockchain and Bitcoin is great, no doubt about it. But the meteoric rise can only be explained by the lack of alternative. Lots of cheap credit and bullshit flying around so crypto is actually a sensible bet for a lot of people who are starting to understand.
Scaling Bitcoin doesn't have anything to do with mining power. Mining secures the network regardless of transaction size, it's just about security which was never a problem with Bitcoin.
This is the old argument used in the gold vs fiat discussions. It is ridiculous. People looking for store of value like gold don't give a shit about buying beers in some american bar with gold coins. They can buy lots of shitty US paper loosing value every day with their gold and give you plebs the paper you are so much keen on. With Bitcoin it is exactly the same and can pay even with Dogecoins if you fancy it.
gold is money - it can be digitized and serve as a good currency medium. we are not in the olden days where you actually have to deal with physical coins. the idea is to have gold stored safely and trade backed digital tokens frictionlessly (on the blockchain of course)
How exactly is a currency more reliable when there is additional counterparty risk? why couldn't a local repair shop accept bitcoin instead of my euros? are you aware you can actually send fractions of Bitcoin?
No, the purpose is to secure a global payment network.