Newbie, salty nocoiner (and aspiring Lambonaire) here with a bunch of serious questions:
(1) Operations: Blockchains are frequently explained as 'distributed ledgers'. With increasing transaction volume, won't these ledgers get increasingly harder to maintain, eventually requiring gigantic storage and entailing excrutiatingly long transaction confirmation times?
(2) Custom Blockchains: Why will organizations in the real world adopt existing blockchains? For example, what exactly stops the banks from getting together and creating their own custom blockchain solution (geared towards the specifics requirements of their own industry) instead of using the Ethereum or Bitcoin blockchains? If they start using their own chain of blocks, what will give the various existing cryptocoins value?
(3) Taxation: You budding cryptomillionaires probably wouldn't prefer to pay taxes on your gains. Currently, cryptocurrency is accepted nearly nowhere, so your only way to realize gains is to convert to fiat, which is when Uncle Taxman comes knocking. These taxes can be as low as nothing to as high as 85% (Scandanavian countries?). Shit, even converting them to physical gold is tracked in many countries. Any thoughts about this? What are your strategies?
PS: Sorry for yet another crypto thread. Maybe we should make this a crypto General/FAQ/SQT thread...
Final bump folks; it seems no one's interested in dropping any knowledge in this here mo'fucker.
>>2197675
> With increasing transaction volume, won't these ledgers get increasingly harder to maintain, eventually requiring gigantic storage
Yes
> entailing excrutiatingly long transaction confirmation times
No, that's not how it works. It depends on the algorithm, but PoW involves performing crypto bruteforcing of the last block, and the current block's hash, until a certain output is found - in BTC it's n number of prefixed 0s. Changing the size of hash algorithms output is the only thing that will affect the time BTC transactions take. That and the predictable reward halving, which increases the number of prefixed 0's by 1.
> Why will organizations in the real world adopt existing blockchains? For example, what exactly stops the banks from getting together and creating their own custom blockchain solution (geared towards the specifics requirements of their own industry) instead of using the Ethereum or Bitcoin blockchains?
They are - it's called the hyperledger. This is what Ripple is targeting - non crypto assets being placed upon a block chain. XRP has nothign to do with Ripple, it's just a token. Ripple can be used without XRP. This is why people laugh at Ripple, it's speculation, and the coin isn't used anywhere. It may just hold value like Bitcoin, or people may realise it's shit and sell.
The whole point of the block chain isn't about coins - it's about shared cryptographic proof. Blockstack for instance uses the shared crypto proof to implement a blockchain for DNS - ensuring DNS cannot be spoofed. Name coin does the same. What we are seeing is decentralisation being accelerated because we now have a technology that can serve as a solid form of shared integrity - free from tampering from 4chan wankers. It means that any technology built on top of a block chain doesnot need a trusted authority - because that authority is the laws of currently understood mathematics.
Taxation: ... Any thoughts about this? What are your strategies?
Pay your taxes. You only pay taxes on gains made. Lost profits are liable for exemption. Else, keep it in crypto until you need it.
>5 sats
anon, you wouldn't miss this like you did rdd, xby, and dgb, would you?
shut up
you lied to us about MOON and then bailed on us.
fuck you
>>2197571
If you can't tell the difference between espers and mooncoin you deserve to lose money.
Research what the fuck you are investing in.
>>2197571
Moon was a PnD from start to finish, coordinated by a bunch of shit shills from a Discord. Moon was worthless for YEARS with no development at all. Espers has a massive community and is under active development.with good tech. check out their website and ANN, and come to your own conclusions
> mfw BTC, ETH, DOGE all red
>>2197538
More cheap shit for muh scavenger gains
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
HOLD IT FAGGOT!
Anyone have experience with Gemini? Everyone complains about how shitty Coinbase is, but I never see anything about Gemini.
The website looks very sleek and professional. Wat do?
>>2197528
I tried to open an account with them two days ago. Everything seemed to go fine, but we're stuck at the stage of verifying my identity. They've been jerking their dicks to my passport photo for 49 hours and counting. Do they want my business or not?
bumperino
>>2197528
I've been waiting a week to get verified on Gemini. BitPay has been 5 weeks and nothing. Shit.
>bought at 2500
already having buyers remorse, i will go back to /v/ now
Nice job, you invested into something you know nothing about.
Don't be a complete retard, just hold it.
It's gonna be worth a lot more than what it is now.
>>2197500
>2500
and i felt retarded when i bought it at 1998
still worth it imo, have only made profit since, even with the "crash"
i'm actually hoping it's gonna get lower cause i have another 50€ coupon waiting
See you next week when it's worth $4k
STOP SELLING !!!!!!!!!!!!!!!!!!!!!!!!!
B L E U T R A D E:
Value: 3 SAT
24H Volume: 125 BTC
Last 200 Trades: 13.59 BTC
Buy: 3.14 BTC @ 2 SAT
Sell: 26.84 BTC @ 3 SAT
-----------------------------------
N O V A E X C H A N G E:
Value: 2 SAT
24H Volume: 40.56 BTC
Last 100 Trades: 3.88 BTC
Buy: 0.13 BTC @ 2 SAT
Sell: 9.75 BTC @ 3 SAT
>>2197411
HODL
>>2197411
That's what you get for coordinated Discord shilling.
about to buy 9BTC worth and my group overall will be buying 50BTC within the next hour. hop on now. you're welcome.
>>2197018
im in
>>2197018
i hope you're right, anon.
up
PVIX is pumping hard right now.
Get in before its too late.
>>2196976
>pumps 70%
guys get in quick!
BUY BUY BUY
Fuck I sold at a loss today because it was going down quite a lot
>got tricked to buy the mooncoin at 4sat
I spent 2btc on this scam. I want my money back.
Hahahhahahahahahahahhahhaahhahhahahhahahahhahah
*deep breath*
HAHAHHAHAHHAHAHAAHAHAHHAHHAHAHHAHHAHAHAHAHAHHAHAHAHHAHAHHAHAHAHHAHHHH
You deserve it you moron
What a fucking faggot you are how can you fall for such an obvious PnD ?
>>2196955
The problem is I make so much fucking money that I don't even care anymore. Send help.
What kind of college degree will net me a 300k starting position if I play my cards right?
Knee pads
BTC Engineering
>>2196863
Marrying the university president.
I'm a 20 yo NEET living in my parents home
What's the best high risk/high reward coin to invest for very long term hold (5-10 years?)
I got 2600€ worth of btc, and while this is safe bet, I think it's too late to invest ETH for amazing gain. I missed the train. people who bought it 1 years earlier are the real winner. If you had to invest in a coin with astounding but not guaranteed gain in long term, what would it be?
Unironically mooncoin, except make it a short term hold. Buy at 2 sat, sell at 4 tomorrow or a day after.
Congrats you just doubled your money. You're welcome, retard
You should invest in yourself, fool.
Fiat money is just the same as Crypto right? It is all based on trust.. so why crypto?
>>2196700
because crypto isnt held by a large bank under the government's thumb which can at any time decide to fuck you in the ass harder than pic related.
Ill trust random strangers with my money before a trust a piece of shit bank thats already lost chunks of my income and doesnt give a fuck.
>>2196700
Because individual crypto coins actually exist, while fiat is basically just a pool of debt.
Are we seeing consolidation or is this the beginning of a longterm downtrend?
Consolidation obviously. Korea is at $300.
>>2196698
todayis your last chance to buy under 200
>>2196996
I bought yesterday at $189...was hoping it would be $210 by this morning....currently panicking
>buying XRP
>NOW
has the past taught you nothing?
>>2196686
SHIT SHIT SHIT SHIT SHIT SHIT SHIT SHIT
So it will follow that pattern all the way to zero or what?
>>2196728
no, but it's following it to a T right now, already begun its descent.
How much will a bitcoin be worth in 2030?
a bajillion
>>2196544
>
Seriously though, any chance of 100k?
>>2196541
80k will be peak