Plenty of coin are scams or 'get rich quick' schemes that sponsor the developers of a crypto project. But scarcity is still assured because while there can be infinite coins, most of them are coins that people don't want, or want badly enough.
Bitcoin will always be scarce. Having some schmuck mint another billion Doge coins on a whim is not going to affect scarcity at all because those are pretty much the equivalent of monopoly money compared to Euros or Dollars.
Correct. I am not American so I have absolutely no bone in this fight.
If you look at the 2nd amendment and the letter written about it by the founders who drafted it, you will clearly see that their intention was to permanently enable the citizenry to overthrow their government. The thinking was that that way, government would never get too corrupt to be checked.
However, there is a nuance to be made. In those days, there was a hard limit on how many casualties 1 single person could inflict. So even if you had a gun, you'd need a large enough group of people who also shared your ideas, because your single musket was in itself useless as long as you didn't have a sizeable portion of compatriots also armed with muskets. That acted as an automatic breaker to prevent individuals from committing mass slaughter.
With that in mind, one could argue that private citizens should be able to own arms that are powerful when they group together, but individually uncapable of committing mass murder. So AR-15s are in, and fully auto machine guns are out.
That is the biggest challenge of a system that vastly outgrows its original parameters. As I said I have no bone in this fight. I am just pointing out that that area is one where you can argue either way because that falls way out of the context that existed when the founders argued about it.
They're not. There's also absolutely no way to 'undo' transactions if someone makes a mistake. The only option that exists is to do a hard-fork, revert the entire blockchain to a point where one or more specific transactions have not happened. This has happened once, with the DAO hack and the Ethereum hard fork which was done to mitigate it.
This is obviously very risky because you risk destroying the project if the fork does not get universal support. The only reason it was a success for Ethereum was that the project at that point was still fairly small, and the amount involved was a single transaction and none of the coin had propagated to other places. These days it would be all but impossible to pull off the same support for a hard fork. People who were victims of the recent Parity fuck-up in which a million ETH tokens are frozen forever: they're SOL. I am fairly certain there's not going to be a hard fork.
So you are correct: from a consumer standpoint, crypto currency has several advantages, but also several downsides.
In fairness, The US has vast amounts of essentially flat space where you can easily build and maintain large solar or wind farms. Japan doesn't have that feature.
I do understand what you mean. I am a software developer myself. Since '98 I have developed software for both linux and windows. Since 2007 windows exclusively. So I understand the OEM story and the rest. In fact for a time being I was a very happy BeOS user until that went down the tubes. For a while I participated to OpenBeOS but that went nowhere.
Actually, if you want to be prepared and have a solid rollback strategy, you'll remove the HD, insert a fresh one and start. And should something fail that you cannot resolve in a timely manner, you put the old one back. That is how we do the very risky server migrations / software updates at work during the annual downtime window.
As for the backup: you should always have a decent up to date backup. If that is something you need to plan a long time in advance, you're already one hard disk failure away from catastrophe.
Note that I didn't say it was linux's fault. I don't really care whose fault it is / was. All I care about is that when I pop in the installation cd, things get installed and to a decent working state without a lot of finagling. Linux used to have that problem. And that might have various reasons but ultimately, the 'why' doesn't matter to the user.
Honest question: Let's say I take a 2 year old laptop. I know for sure that I can install windows, and that after installation, I will have sound, wifi and a decent screen. Is the same true for linux if I grab a commonly available distro?
I've done it several times when building a new machine. You pop in the windows disk and when it is done installing, you install your drivers or apps. The last couple of years I haven't had to use the command line for anything. Depending on the amount of apps and the data you want to move, it takes time but generally not a lot of hassling.
I admit it's been 10 years since I worked with linux. Back in those days, I could install linux fairly easily, but there was always something that required a serious amount of dicking around with config files to get it working. The 3 most common issues would be that sound wouldn't work, wireless wouldn't work, or the graphics config of X (resolution, refresh rates) would be borked.
Rhodium once experienced a bubble like this. It corrected all the way down. I do believe in bitcoin as an asset. But the current price explosion looks unsustainable and backed by nothing other than fear of missing out.
Yes. If you look at how much is traded on a daily basis, then you can easily liquidate 5000 BTC on a large exchange without tanking the price as long as you don't throw a 5000 BTC sell order on the book in one go.
In a sufficiently large company, AD itself is only the first step. You need AD with integrated DNS and group policies. Unless I am misinformed, Samba is nowhere near that level of functionality. Getting Samba itself up and running without those other things is kinda pointless.
BTC as such is secure against tampering. If you keep them in your own digital or hardware wallet, they are totally secure. If you leave them on an exchange, they're only as secure as the exchange.
He was misquoted, and in fact has explicitly said so on twitter that he was misquoted and provided his original quote: http://www.globalcryptopress.c...
Oh, I know. The way bitcoin is used currently is way outside of the scale it was used even just a year ago. Both Bitcoin and Ethereum are working on projects to get fast transfers. When that finally happens, we can send large transfers around the globe near instantaneously without having to give the banks or paypal an arm and a leg.
It's inherent value is that it is limited in supply AND used as a gold standard on exchanges to trade all other crypto coins against. The only way bitcoin will suffer lasting drops in price is if the entire crypto world diminishes. Until then, its use for trading is what gives it its increasing value.
Maybe in the future there will be a different standard. Some exchanges implement trading pairs against ethereum. So it may happen. But until then, bitcoin is safe.
In the case of bitcoin, it is used to trade with. exchanges like Bittrex trade everything against bitcoin. All money has to funnel through bitcoin either directly or indirectly. All other arguments and benefits aside, as long as bitcoin remains the de facto gold standard backing the entire crypto world, and as long as money goes into the crypto world, the price of bitcoin is not going to go down (volatility aside).
You are right. Many of the coins I see don't solve problems that other coins don't also solve. Most project only mint their own coin for profit. The handful of coins I consider long term are bitcoin because it's currently the backing standard of the crypto world, ethereum because people are building things on top of it AND using it om some exchanges to trade, and NEO because it provides some functionality like ethereum but it's Chinese and Chinese tend to favour Chinese tech (aliexpress instead of amazon etc)
Granted, it may still one day disappear but so far I think that for the foreseeable future, projects will come and go but the total market cap will rise.
As long as bitcoin remains the gold standard backing all other crypto, no one is going to dump it. I am never overly optimistic, but bitcoin has become the gold standard and unless the crypto world disappears again or chooses a new backing standard for trading, its long term direction is only up.
Inherently, there is no reason for bitcoin to be valuable. There is also no reason for gold certificates to be valuable. Bitcoin is valuable among other reasons because people literally use it as a gold standard to trade all other coins. Look at the bittrex exchange: every coin is traded against bitcoin (and ethereum). It is quite literally the digital gold backing all other coins.
Crypto is very volatile, but as the total crypto market cap increases, so will the bitcoin price. And I predict that over the long term, bitcoin is going to go up as long as people keep buying other coin. At least, until and as long as bitcoin remains the gold standard. 2018 could very well have 5 digit bitcoin prices.
The only reason that bitcoin crashed a couple years back is because Mt. Gox folded and many people lost all their coin and the trust in crypto.
Seriously not true. I cannot speak for all countries, but I know from experience that the countries I've used airports in, all required ID to get past security screening. These include Spain, Netherlands, Belgium, Germany, France, and Italy. You're not getting on a pane without official ID.
Slashdot Mirror
Plenty of coin are scams or 'get rich quick' schemes that sponsor the developers of a crypto project. But scarcity is still assured because while there can be infinite coins, most of them are coins that people don't want, or want badly enough.
Bitcoin will always be scarce. Having some schmuck mint another billion Doge coins on a whim is not going to affect scarcity at all because those are pretty much the equivalent of monopoly money compared to Euros or Dollars.
I think that you're a bit naive if you expect Trump to a) give a fuck about anyone or anything and / or b) abide by pacts and treaties.
Correct. I am not American so I have absolutely no bone in this fight.
If you look at the 2nd amendment and the letter written about it by the founders who drafted it, you will clearly see that their intention was to permanently enable the citizenry to overthrow their government. The thinking was that that way, government would never get too corrupt to be checked.
However, there is a nuance to be made. In those days, there was a hard limit on how many casualties 1 single person could inflict. So even if you had a gun, you'd need a large enough group of people who also shared your ideas, because your single musket was in itself useless as long as you didn't have a sizeable portion of compatriots also armed with muskets. That acted as an automatic breaker to prevent individuals from committing mass slaughter.
With that in mind, one could argue that private citizens should be able to own arms that are powerful when they group together, but individually uncapable of committing mass murder. So AR-15s are in, and fully auto machine guns are out.
That is the biggest challenge of a system that vastly outgrows its original parameters. As I said I have no bone in this fight. I am just pointing out that that area is one where you can argue either way because that falls way out of the context that existed when the founders argued about it.
They're not. There's also absolutely no way to 'undo' transactions if someone makes a mistake. The only option that exists is to do a hard-fork, revert the entire blockchain to a point where one or more specific transactions have not happened. This has happened once, with the DAO hack and the Ethereum hard fork which was done to mitigate it.
This is obviously very risky because you risk destroying the project if the fork does not get universal support. The only reason it was a success for Ethereum was that the project at that point was still fairly small, and the amount involved was a single transaction and none of the coin had propagated to other places. These days it would be all but impossible to pull off the same support for a hard fork. People who were victims of the recent Parity fuck-up in which a million ETH tokens are frozen forever: they're SOL. I am fairly certain there's not going to be a hard fork.
So you are correct: from a consumer standpoint, crypto currency has several advantages, but also several downsides.
In fairness, The US has vast amounts of essentially flat space where you can easily build and maintain large solar or wind farms. Japan doesn't have that feature.
I do understand what you mean. I am a software developer myself. Since '98 I have developed software for both linux and windows. Since 2007 windows exclusively. So I understand the OEM story and the rest. In fact for a time being I was a very happy BeOS user until that went down the tubes. For a while I participated to OpenBeOS but that went nowhere.
Actually, if you want to be prepared and have a solid rollback strategy, you'll remove the HD, insert a fresh one and start. And should something fail that you cannot resolve in a timely manner, you put the old one back. That is how we do the very risky server migrations / software updates at work during the annual downtime window.
As for the backup: you should always have a decent up to date backup. If that is something you need to plan a long time in advance, you're already one hard disk failure away from catastrophe.
Note that I didn't say it was linux's fault. I don't really care whose fault it is / was. All I care about is that when I pop in the installation cd, things get installed and to a decent working state without a lot of finagling. Linux used to have that problem. And that might have various reasons but ultimately, the 'why' doesn't matter to the user.
Honest question: Let's say I take a 2 year old laptop. I know for sure that I can install windows, and that after installation, I will have sound, wifi and a decent screen. Is the same true for linux if I grab a commonly available distro?
I've done it several times when building a new machine. You pop in the windows disk and when it is done installing, you install your drivers or apps. The last couple of years I haven't had to use the command line for anything. Depending on the amount of apps and the data you want to move, it takes time but generally not a lot of hassling.
I admit it's been 10 years since I worked with linux. Back in those days, I could install linux fairly easily, but there was always something that required a serious amount of dicking around with config files to get it working. The 3 most common issues would be that sound wouldn't work, wireless wouldn't work, or the graphics config of X (resolution, refresh rates) would be borked.
If you need a week downtime to install an OS which you already know -which the GP implies-, something is not right.
Rhodium once experienced a bubble like this. It corrected all the way down.
I do believe in bitcoin as an asset. But the current price explosion looks unsustainable and backed by nothing other than fear of missing out.
Greece was taking out stupendous loans, on top of fudging their books. They landed in a mess of their own making.
Yes. If you look at how much is traded on a daily basis, then you can easily liquidate 5000 BTC on a large exchange without tanking the price as long as you don't throw a 5000 BTC sell order on the book in one go.
In a sufficiently large company, AD itself is only the first step. You need AD with integrated DNS and group policies. Unless I am misinformed, Samba is nowhere near that level of functionality. Getting Samba itself up and running without those other things is kinda pointless.
Exchanges are for exchanging. Not for storing. If you use an exchange for long term storage, you're an idiot.
BTC as such is secure against tampering. If you keep them in your own digital or hardware wallet, they are totally secure. If you leave them on an exchange, they're only as secure as the exchange.
He was misquoted, and in fact has explicitly said so on twitter that he was misquoted and provided his original quote:
http://www.globalcryptopress.c...
It's quaint that people in the US still use checks. :-)
Oh, I know. The way bitcoin is used currently is way outside of the scale it was used even just a year ago. Both Bitcoin and Ethereum are working on projects to get fast transfers. When that finally happens, we can send large transfers around the globe near instantaneously without having to give the banks or paypal an arm and a leg.
It's inherent value is that it is limited in supply AND used as a gold standard on exchanges to trade all other crypto coins against. The only way bitcoin will suffer lasting drops in price is if the entire crypto world diminishes. Until then, its use for trading is what gives it its increasing value.
Maybe in the future there will be a different standard. Some exchanges implement trading pairs against ethereum. So it may happen. But until then, bitcoin is safe.
In the case of bitcoin, it is used to trade with. exchanges like Bittrex trade everything against bitcoin. All money has to funnel through bitcoin either directly or indirectly. All other arguments and benefits aside, as long as bitcoin remains the de facto gold standard backing the entire crypto world, and as long as money goes into the crypto world, the price of bitcoin is not going to go down (volatility aside).
You are right. Many of the coins I see don't solve problems that other coins don't also solve. Most project only mint their own coin for profit. The handful of coins I consider long term are bitcoin because it's currently the backing standard of the crypto world, ethereum because people are building things on top of it AND using it om some exchanges to trade, and NEO because it provides some functionality like ethereum but it's Chinese and Chinese tend to favour Chinese tech (aliexpress instead of amazon etc)
Granted, it may still one day disappear but so far I think that for the foreseeable future, projects will come and go but the total market cap will rise.
As long as bitcoin remains the gold standard backing all other crypto, no one is going to dump it. I am never overly optimistic, but bitcoin has become the gold standard and unless the crypto world disappears again or chooses a new backing standard for trading, its long term direction is only up.
THIS^^^
Inherently, there is no reason for bitcoin to be valuable. There is also no reason for gold certificates to be valuable. Bitcoin is valuable among other reasons because people literally use it as a gold standard to trade all other coins. Look at the bittrex exchange: every coin is traded against bitcoin (and ethereum). It is quite literally the digital gold backing all other coins.
Crypto is very volatile, but as the total crypto market cap increases, so will the bitcoin price. And I predict that over the long term, bitcoin is going to go up as long as people keep buying other coin. At least, until and as long as bitcoin remains the gold standard. 2018 could very well have 5 digit bitcoin prices.
The only reason that bitcoin crashed a couple years back is because Mt. Gox folded and many people lost all their coin and the trust in crypto.
Seriously not true. I cannot speak for all countries, but I know from experience that the countries I've used airports in, all required ID to get past security screening. These include Spain, Netherlands, Belgium, Germany, France, and Italy. You're not getting on a pane without official ID.