Crypto FAQ/SQT/General

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.

Well i guess i just wasted my time. I won't bother next time.

Bump you faggot, read this shit. i spent time baking this thread for you, fuckwit

>>2199850
relax, I've read your shit (not op). Good job. You have my gratitude.

>>2199850
Thanks for the info

Heres what you need to know: Buy BITCOIN.

Everything else is a scam and corporate jews trying to jump on the bandwaggon.

>>2199957
BTC's volume and mining is controlled by the chinks. Don't kid yourself, BTC is THE Scamcoin, invest in something like monero or xrp.

>>2199979
>volume controlled by chinks
This is a meme and false ever since the margin scam on chinese exchanges got removed, it got revealed that chine doesnt control the volume, japan is #1 nowadays

>mining
Irrelevant since we have UASF, which will prove users rule above miners:

www.uasf.co

>xrp

kek