90% of pol does not realize the implications Bitcoin has

Bitcoin shouldn't exist, only the State must control the economy.

>>128572527
>France
You don't matter. Go chew on Ahmed's tires.

>>128572670
t. ancap controlled opposition

How little you guys know...

>>128572320
blockchain*****

we can argue about which coin is better but you know its about the protocol you moron.

Nowadays it's safer to invest in bitcoin than in € or $.

>>128572767

Saying it's blockchain is saying that you're excited about nuts and bolts

>>128572670
anonbro you should be worried bc you could be using fedcoin instead of bitcoin

https://news.bitcoin.com/fedcoin-u-s-issue-e-currency/

>>128572320
I'll stick to fiat thanks.
I wouldn't know what to do if my money didn't slowly lose value over time.
Also, there are no based black guys on bitcoins, how can bitcoins ever beat having pictures of niggers on your money??

The deflationary aspects of a free market avalanche of investment capital into cryptocurrencies is terrifying, especially for a world that is drowning in debt represented by existing national currencies.
Here's the frightening scenario : you owe several hundred thousand dollars or yen or euro on your mortgage and other debt. Your employer is pretty hip and they start paying you in this new cryptocurrency because they see the currency rising so they have transferred all the company's cash assets including payroll into a cryptocurrency. They hope the transfer will lead to increased bottom line earnings for the company, since the cryptocurrency keeps rising and that means the company may enjoy a currency arbitrage profit as their former currency not in crypto keeps rising and providing profits.
For you, the new payments in crypto are great, because by the time you finish paying your bills each month your paycheck has risen in value...so its like getting a bonus with every paycheck ! What's even better, you easily transfer enough cryptocurrency each month into dollars because the mortgage servicer who you sends your mortgage to specified in the mortgage agreement that your payments will be in dollars. So too did the credit card companies. So you translate some of your crypto paycheck into dollars and pay your debt bills.
Here's where it gets interesting...

>>128573028

The mortgage servicer and the credit card banks receive your dollars as planned. But like you, they are having to start transacting more business in cryptocurrency as the world marches toward the brave new world, and so the dollars they are being paid by you to settle your debts with them are becoming less and less powerful in terms of how much cryptocurrency those dollars can buy. In real buying power terms, the banks you owe money to start losing buying power when they have to translate dollars they are paid into cryptocurrency, and that is causing the banks to suffer loses to its overall earnings.

When banks start losing money, they become more cautious and lend less money. There will be the constant losses doe to currency translation from dollars to crypto, along with risk managers in the banks cautioning not to make new loans in crypto because the more the crypto rises in value against existing currencies, the more likely will there be a correction in crypto value that means the crypto collected on the new loans will be worth less than the crypto lent.

When banks reduce their appetites for making loans, economies slow down and suffer. The gain that indebted consumers made from the cryptocurrency translation resulted in offsetting losses for banks. Since there are a lot fewer banks than borrowers, the gains for each individual borrower are a lot smaller than the huge losses that the banks will take in receiving loan payments in a currency that is in free fall because of the supply-demand equation for the more favored crypto. What you then have is a mortgage crisis like in 2007, magnified several times over. In the mortgage crisis, individuals received small benefits by living in homes without paying mortgages, while banks and holders of mortgage backed security liabilities died a death of a million slashes as they absorbed all of the defaults. This time it will be far far far worse.

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>>128572826
Right, but you don't understand the significance of trustless peer to peer transactions. That means we can represent value online without need to rely on a third party and without needing to know anything about who we are doing business with.

Think about it. how much is trust worth in $GDP

>>128573110

What makes this scenario even more catastrophic is that in order to stay in business, the banks will need massive capital infusions from governments, just like last time. But since governments cannot mine cryptocurrency like they could print currency, whatever infusions of liquidity they make to the banks to save them will simply serve to push the value of cryptocurrencies higher, causing this entire process to multiply to the point of runaway reaction. Cryptocurrency mining procedures are just too small and difficult and time consuming to be useful in a liquidity starved world.

The solution, of course, is to pull the cryptocurrency plug once the problem appears. But as we see time and again in financial crises, by the time the problem appears its way too late to take corrective action that would avert a catastrophe.

So that's where the world unwittingly is going, and because governments have lost so much trust in their constituencies, and also because they have shown an incredible set of blind eyes to work on fixing problems, this deflationary firestorm will occur and destroy the world's financial system. There is a huge amount of money to be made on all of this, just think about who gets hurt if the major banks really fail and the governments are unable to save them. Bank stocks, industrial stocks, home builders, home furnishers...basically everyone. This is the one scenario in which the stock market could not even be saved by the government printing press...what an interesting idea!

>>128573028
How do i translate my bitcunt into booze and whores ya bloody toothpaste poofta?

>>128572804
>investing in currency
What did he mean by this

>>128573206
So from an investment standpoint, the growing wave into cryptocurrency will provide the investment opportunity of a lifetime. Its the perfect storm...it combines the seemingly universal dislike of government intervention to prop up highly overvalued stock markets so the rich get richer while the working person cannot get a decent raise, with the also seemingly universal desire to keep the internet free and beyond the clutches of government regulation. It gets rid of these dastardly Central Banks that have done nothing to help anyone but that same wealthy one percent that benefits from zero percent interest rates, and individuals love the perceived strength that a currency freed from government entanglement means to a free world. Everyone sees the nirvana, but hardly anyone understands the devastation that deflation has on a world so over-leveraged on debt.

Interestingly, the winnings from this deflation have nothing to do with whether you decide to put a few thousand dollars into Bitcoin so you can look cool to your kids and co-workers. No, the profits in this one will be in the old school avenues, assets denominated in the old currencies that crypto is looking to replace. Imagine shorting Goldman's stock and actually seeing it drop and stay down. Or seeing Berkshire Hathaway put that old man who has been a beneficiary of his time sink into oblivion and turn the old wizard into an old fool.

until recently I didn't know Bitcoin was still a thing, for a while I only saw it referred to in past tense

>>128572320
It is a government project has been from the start also it has no value since it requires extensive mining equipment that cost a lot of electricity and not all are tech savvy nor will they transition to it .

People like what they are familiar with, Bitcoin will worth nothing if you don't have a significant user population.

It will flop also did they solve the scaling problem ? If not it's even worse a bubble ...

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>>128573028
>>128573110
I too have had the same nightmare. How do we organize to stop the chaos that is to come anon?

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>>128573259

The most interesting times in the financial world occur when the world moves from one age to another. Think of agrarian to industrial, industrial to government/military, and now government/military to information age. At all of these interfaces, the seams were sharp enough to cause a terrible rip in the fabric of the world economy, and winter came in the form of global depressions to wipe away the old leaves and dead wood. Cryptocurrency will be the death knell of the government/military age, because it takes government out of controlling the money. There will be a new money with millions of new overseers and a free market that replaces the dominance of small cabals of government bureaucrats who dictate the terms of commerce in the world.

That seam is going to be greater than most in the past, because of the magnitude of what is being replaced and the terribly ripe condition that exists to be replaced. The interface will be epic, the transition states along the way will be horrific. Remember what Brad Pitt cautioned in The Big Short :"...for every one point rise in the unemployment rate, 40,000 people die". That relationship will rise when this nightmare takes hold.

It’s so interesting how a development led by young people - the advent and expansionary use of cryptocurrency - still will be subject to the old rules of society. The axiom "may you live in interesting times" - originally intended to be a cautionary advisory - along with the caution to "be careful what you wish for as it might come true" both ring in my ears as I contemplate how cryptocurrency will be the bleach that washes away the excesses of a dying age in favor of the birth of a new one.

>>128573222
You're doing it right now you slopey cunt.
You invest your trust and time into your national currency pretty much by default

Question guys: Could it be possible for a collective of states and central banks to phase out bitcoin and launch their own?

>>128573334

Economic depressions are magnificent social colonics, as they wash away all of the filth that accumulated in the prior age. Every bad thing that you saw on display in the lead up and psot script of the financial crisis is about to be gutted and burned. Yet the world will enter its new economic age hamstrung by the pains of paying a severe penance for its foolishness of the age it is putting to rest. The best thing about economic depressions is that the greatest transfers of wealth - usually from the haves to the have nots - occur in these times.

So if you really believe that cryptocurrency is here to stay and the next big thing of the future, then take precautions now and get yourself in position to be one of these beneficiaries of the transferring wealth. Have your plan ready, you will know when its time to execute. Fortunately for the foolishness of the Gods of the old world, they have put up the prices of assets so high that you will have plenty of time to get onboard when the train starts heading down the mountainside.

Enjoy the ride!

>>128573317

Imo it's going to be an avalanche, it can't be stopped.

>>128573206
They could just ban crypto and seize/cease all transactions

>>128573361
Very probable also Bitcoin probably is their testing ground

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>>128573259
ooooooo shorting the banks..... would feel so nice collecting on that.

Hey everyone this guy is giving out free money tips.

>>128573361

Phase out? No.

Launch their own? Yes, Russia is doing it right now. https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo

>>128573222

You work and get paid in Singapore dollars? You are investing your time into Singapore dollars. You are afraid Singapore dollars might crash, wiping out your pension? You might buy some dollars or euro's to keep your pension safe, because maybe they are doing better. Or maybe you'd chose Bitcoin.

>>128573354
I dont invest in it, since i spend it on physical assets or consumption

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>>128573206
>when you read an article you find interesting so you tell everyone about it so you seem ahead of the curve
No one cares you crypto jew

>>128573457

>They can seize/cease your bank account. They cannot do that to Bitcoin.

>They could j just ban crypto

"They" don't ban something they are invested in. If you read my posts, you will see who will again foot the bill, and it won't be the rich people. It's going to be the slow people that didn't buy some Bitcoin.

>>128573222
kek

>>128573426
Perhaps we can't stop it. But we can do something instead of sitting around on our asses waiting to have someone else dictate how our world is run. Or we can chose to participate and shape what is to become the backbone of our institutions.

I feel like technology and government can be merged and i don't know why /pol/ isn't more keen on the idea.

>>128573729
Cool story bro

>>128573573
You invest your soul into it (assuming you have one)

>>128573932
I dont think my soul is a physical asset

>>128573361
very possible to launch their own. russia is doing it afaik

But you are missing the point. its not just money. Its the ability to represent value digitally.

>>128573708
This desu
Money doesn't mean anything unless it has a picture of a famous nigger on it

>>128574027
I don't think you even have a soul you strange little robot boy

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>>128573729
>"They" don't ban something they are invested in. If you read my posts, you will see who will again foot the bill, and it won't be the rich people. It's going to be the slow people that didn't buy some Bitcoin.

also if people don't get in quickly the banks will already have wedged themselves in so they get a cut somehow.

>>128574045
Value already is represented digitally.
The entire global economy is basically a jewish videogame at this point

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>>128573573
Let me ask you this: have you ever owned any product key or digital property of any kind?

>>128574095
At least i have a dick

>>128574273
Maybe one or two vidya. Like i said consumption

>>128574310
I've got a big aussie cock desu senpai

>>128573259
>Imagine shorting Goldman's stock and actually seeing it drop and stay down.
YES, NOW YOU TOO CAN BE A SJW CUNT.

>>128574248
Read up on what actually happens when you send someone money.

http://money.howstuffworks.com/personal-finance/debt-management/credit-card.htm

You're telling me that this system is better than verifying things with a decentralized ledger of some kind?

Jesus no wonder we are powerless.

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>put $600 into various crypto last monday
>now worth $1100

Shit's weird.

>>128574152

That's exactly my point. Right now there is a window for goys to get in before them. It's ''real time justice and restitution'', this YT vid touches nicely on it. https://www.youtube.com/watch?v=UgVXl2sskpU

>>128574483

It's capitalism you stupid dildo. The most profitable system wins.

>>128574388
I think you will use blockchain tech if you know it or not someday.

https://medium.com/harvard-business-school-digital-initiative/will-ethereum-be-the-platform-that-successfully-brings-blockchain-into-the-mainstream-d2c9b035742c

Check out ethereum. its a platform for building blockchains. Which has some really cool applications in all areas of life.

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>>128574483
Cmon man you make me look bad. Do you like being a debt slave? Sort yourself out and be open to new ideas. I bet you don't even understand this one.

I don't but i'm trying. More than you can say.

>>128573206
Nobody is going to pay in crypto u knob, the coins value will be in powering platforms and having a decentralized unmodifiable history

>>128574767
Im all for the tech, its sound.
But this has nothing to do with crypto in its current state

>>128574670
We make these threads because we need the normies help. but sadly they shun us because they don't recognize the truth.

The irony is, if kek willed it there would be a billion anons researching it and buying coins and making apps.

You would think we would be a little more open minded about financial systems because ours is definitely not doing well.

>>128573361
The best attack (((central banks))) have on bitcoin is acquiring most of it and just stop transacting it, effectively killing it, and they will. Current market cap of bitcoin is like 40 billion. That isn't even a month of QE. They are watching it as a test bed until launching the one they control.

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>>128572320
In one strong geomagnetic storm you, bitcoin users, are fucked up (and maybe the whole humanity.

>>128575142

You can take a horse to water but you cannot make a horse drink

>>128573028
>>128573110
Toothpaste retard

>>128575193

This would make make the value of 1 Bitcoin rocket to between $100k and $1000k. The best ''attack'' they have is simply capitulating and joining in, and keep making profit with Bitcoin.

>>128575273
If all computers went down worldwide we would be pretty fucked as a society. Has nothing to do with blockchains.

you think we could restart everything from our paper backups everywhere all at once? That's mightily optimistic of you.

>>128573729
How many coins do you reckon is enough for some security?

What's the price right now in USD?

Haven't been paying attention for awhile desu

Good read thanks mate

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>>128575387
FUck you uidiot burger

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Post'em boys... started with $500.

Got ETH @ 16, Strat at .55, IOC at .40, RLC at .45, Golem at .24, Waves at 2.00, Bat at .15, and Sia at .012

>>128575387

See you in 4 years lol

>>128573361
Phase out bitcoin, no. Launch their own, sure absolutely. The real question is, if the did launch their own, would it be decentralised and open source like bitcoin. I kind of doubt it...

>>128575193
The central banks actually really have no power. No one controls the idea. The concept behind bitcoin will never die. Ethereum is the better platform IMO because they learned from bitcoin and improved on it.

Also russiacoin is going to be a thing soon. Putin has some tricks up his sleeve

Also i think the ethereum devs are all russian as fuck. They're just surprisingly sober russians. No tracksuits.

https://cointelegraph.com/news/suddenly-vladimir-putin-meets-vitalik-buterin-endorses-ethereum

>>128573457
Hmm lets see.. Marijuana and cocaine are banned. People still use it..

Normies won't use cryptocurrency at least until it becomes universally ubiquitous and works instantaneously like plastic cards, which I believe is going to take a while. A couple of weeks ago I had to buy some hash using BTC, so after exchanging RUB for BTC I had to wait 12 hours or so due to bitcoin network being under attack. And the exchange rate fluctuations were fucking with me meanwhile, so I was left with $50 instead of my initial $60. Oh well, at least it was still enough.

>>128573884
Because (((government))) you fucking moron

>>128573426
That was an interesting read anon. So How should i invest the 50€ I have in Order to become rich from this future happening?

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>>128574578
I think we need to push ethereum over bitcoin. The protocol has lots more real life use cases. Plus it has enterprise buy in and developer buy in. I love bitcoin, i hope they can solve their technical difficulties and progress but i just think it was a rough draft.

Would /pol/ be interested in a cryptoeconomics thread. its a really new and fascinating field that has like ~100 "experts" so there's literally no better field for young people to be studying.

without quantum cryptography your coins are shit because in 10-15 years some chink or russian will steal or commandeer a quantum computer and own the entire currency

>>128574483
jew detected!

>tfw had like 12.6btc on silkroad when it got seized

fuck me desu

I hate you coinfucks so god damn much

>buy btc with fiat
>jewed on fees
>convert to alt
>jewed on fees
>every transaction
>jewed on fees
>have 100k+ and market tanks in <1hr
>Can't pull out more than exchange allows
>what you can pull out is jewed on fees
>Ultra jewed on capital gains tax
>still go to prison

God damn you guys are dumb. "Muh 1000% ROI moon missions". Your best case scenario gains are weak. You're already risking jail, might as well grow a pair and go down for something actually profitable.

t. Drug dealer

>>128575560
eth @16 i envy you. I bought in at 150 and if Russia uses ethereum's platform..... whew

>>128575875
What's the status of vodkacoin comrade?

>>128572320
What implication? Anon, are you gonna hurt bitcoin?

>>128576597
>t. Drug dealer
In fact, it's better for you to switch to BTC, like most Russian dealers did.

>>128576202
Ethereum is the safe bet. lots of new coins. /biz/ would be good for the pump and dump. I'm in it for the smart contracts and smart property.

>>128574570
>Not even over 100% return
Weak gains bro, should have invested in DGB

What's /pol/'s feelings on Sia

>>128576597
its not about the coins its literally about building a new financial system that doesn't rely on everyone being in debt to everyone else.

People have made shit tons of money off of it which is why you see all the wannabee wolfs of coin street but the reality is that the tech that these coins are built on is transformational if we do it right. but (((they))) don't want us to get it right.

>>128575193
In theory, but in actual practice, it wouls skyrocket the price to the point that even the goverment could not afford it any longer thus making all the little guys who got in early super mega wealthy. It kind of defeats the purpose of which you state.. Aside from that, bitcoin is but only 1 currency. They would have to buy every crypto out there, and every new one that sprang up to accomplish the goal in which you have stated.

>>128576597
Stay salty nocoiner.
I made 137% return last week alone.

>>128576211

Ethereum is very different from Bitcoin. For starters, Ethereum is turing complete, what this means is that you can do much more with it programming wise, but it is also much more vulnerable (think of all those smart contracts being hacked), with Ethereum every smart contract has to be foolproof or they could be hacked and drained.

Bitcoin is non-turing complete, this makes it less usable for a broad range of use cases, but makes it extra useful for the use cases it supports. (Store of value, transactions, settlement network etc.)

However I think Ethereum rising is great. And I even hope it overtakes Bitcoin, or gets close to overtaking it, because the moment it gets close to overtaking everyone (even the bad actors like Bitmain, Jihan Wu etc.) will allow Bitcoin to scale via SegWit.

In the end, Ethereum and Bitcoin are vastly different. You can already see it form that Bitcoin has a hard cap and Ethereum doesn't.

>>128575468
The fact is that the federal reserve could buy most of the bitcoin in existence and send it to a garbage address in less than a month of what they were used to printing in QE, effectively Killing it. Blow up a few of the bigger mining ops that have centralized greatly and can also make transaction times painful. So, my point is, about 80 billion dollars and a pack of uighurs supplied some c4 and your magic trading card money is effectively over.

>it's another more people talk about how Bitcoin is making them money rather than how it should be used as anonymous crypto currency thread

>>128576299

There's quantum proof encryption and there has been for a while. It would just be a matter of reworking some of the internals but the concept would remain the same. Probably would be helped because that would mean quantum mining. Which would mean quantum gainz

https://en.wikipedia.org/wiki/Post-quantum_cryptography

>>128575807
In the us, but historically there are other reasons for the drug trade there.

>>128575273
You are a useless cunt who just doesn't understand how this thing works. Stop embarrasing yourself and learn what it is before you make completely retarded statements.

>>128577215

Just think about what you are saying, buying up most Bitcoin would push it to such insane highs that it 1. would devalue the USD to almost nothing 2. would make it more profitable to now hold those bitcoin.

Even if they bought most of the bitcoin in existence and send it away, the remaining Bitcoin would still be insanely valuable. It would not kill it in any way. Say there is only one Bitcoin left, the bitcoin developers could make a change to the protocol so that 1 bitcoin, instead of being divisable up to 8 decimal places could be divided up to 32 decimal places, or 64, or 128 etc. etc. etc.

There is no way to win.

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>>128577166

Bitcoin might end up being turing complete.

IIRC bitcoin has the ability to do smart contracts but its not really that clean. Overall bitcoin just wasn't designed to work at the scale needed to be a legit currency. Last i heard transactions took forever to verify and the block size was getting unmanageable.

Ethereum is awesome because of how flexible and abstract it is. Smart contracts, ICO, the DAO. All super fucking insane ideas that would change how we organize ourselves as a species forever imo.

>>128577248
its because people lack the language to describe the ideas. Really that's the biggest issue.

>>128577636

Bitcoin itself won't be turing complete, but a sidechain of it could be made turing complete. Right now RSK is working on a sidechain just like it, that is fully backwards compatible with all Ethereum smart contracts, eliminating the need for Ethereum all together.

Transactions are fine, blocks are full all the time. There is a scaling upgrade but someone is blocking it though.

Bitcoin is a psyops

Bitcoin IS the NWO Fiat currency, they just duped you idiots into thinking it's "underground". That's why it became so successful overnight and the person who invented it is a mystery because hint: it was the government.

>>128577738
It's because Bitcoin attracts people looking to make a quick buck pretending it's not just that.

>>128577801
ARK is the bridge

>>128577166

Also can you explain SegWit? There's so many crypto related dev issues i have a hard time keeping track of them all

>>128577969

I could, but this article explains it much better https://bitcoincore.org/en/2016/01/26/segwit-benefits/

tl;dr Bitcoin keeps all the bonuses of a 1mb block size while being able to fit in 3.7mb worth of transactions

>>128577840

you're a psyops

>>128577801
Yeah that's what I was referencing. I still think ethereum is the horse i'm going to back with my development efforts. Can't wait for this thing to really take off. Red pill of a lifetime when people realize they can live their lives without ever going to a bank for financial services.

>>128572320
source?

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How come no artist has made an animu girl named Block-chan to represent the block chain? This is important.

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Shills (pedos and drug addicts/dealers) for a illegit electronic currency (that can be squashed in a heartbeat with legislation) everywhere

Bitcoin rests on the assumption that double-SHA256 preimage attacks are outside the reach of cryptanalytically advanced intelligence agencies.

To be fair, though, it's probably no worse than assuming that one's bank balance won't be set to zero overnight.

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>>128577840
Either way, the internet is broken and is also running itself into the ground. We will drag you no-coin faggots kicking and screaming the whole way. or you can work with us and help us build a future that /pol/ might actually have a place in.

>>128576597
Hey retard. no one is forcing you to use coin. Don't like crypto, don't use it and stay brainwashed you retard.

>>128577864
For me it is a matter of practicality.
Even if volatile, it is still more secure than investing in local currency. I could buy some gold bars and stash them somewhere but that would just make me a target.
When shit hits the fan over here I will atleast have access to some emergency funds wherever I am.

>>128577840
Wasn't it some aussie who invented it? Pretty sure I've read an article a while ago about him exposing himself and even proving it to the journofag with his key
I'm outside posting from the phone so cba to check

>>128575142
Ok, I'll bite. I can program, so writing an app shouldn't be too hard. But what does it need to do? What do I need to do to get in on cryptocurrencies?

>>128577568
And when people see that the central bank is trying to destroy bitcoin, they will give up and go elsewhere, counter-valuing it.

>>128578325
if the gov regulated it they could enforce their laws with code. You want bitcoin to win because you want freedom and you hate (((them))) or do you...

>>128578528

He was proven to be a fraud. He's now up to more hijinks with other bad actors attempting to damage Bitcoin.

>>128578480
You're quite optimistic about the Internet still working whenever shit actually hits the fan

The only future cryptocurrencies have beyond the pump-and-dump speculation market is when backed by debt or commodity. As a means of anonymous transaction, they're great; but as a liquid asset they lack any long-term confidence. Even debt-backed paper currencies are more reliable.

>>128572320
I would go further, it's the blockchain.

Many large companies and governments are looking into it, the key thing is decentralization.

Some are saying it will revolutionize the world even more than the internet did.

Now how to tap into this opportunity?

>>128572320
> Bitcoin shills trying to prevent the deflation of the bubble
> Bitcoin shills selling their assets in panic because the overheating markets can be detected from the moon
You're not fooing anyone aquafresh.

>>128577162
I invested 8k in cob leds and see 600% ROI every two months you fucking knave. Can you infinitely clone your internet play money? And do that consistently, you probably made 137% on a $50 investment and got a stern dicking in fees when you shapeshifted to something less volatile.

Crypto is a giant tail wagging game for faggy balding late-30s developers to shill their useless product harder than the next guy's. It's all 100% speculation with zero fundamentals, no one gives half a shit about your smart-contract anti-fragile POS/POW-hybrid buzzword mills. The whole market is petty Asian capital flight. I can make 10x what you can with the best mining rig watt-for-watt, and probably spend less time in jail at the end of the day.

tl;dr crypto is a stupid fad, someone's getting rich, and that someone isn't you.

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>>128577385
And you are irreversible brain damaged retard who always baits in the first possible occasion.

bitcoin is just a make-belief commodity senpai

>>128578704
What is satellite internet?

>>128578835

By buying the most widely used, most secure Blockchain available.

In all honesty, I think the companies (mostly banks) pushing for ''Woah! Blockchain is the real revolution!'' is a bit funny. It's like saying ''Woah! Car tires are the real future!" and not saying anything about the rest of the car. Bitcoin is the car, Blockchain is the car tires.

Banks are doing whole seminars on ''Blockchain'' and tailor them around not saying the word 'Bitcoin'

Try to keep $50,000 as cash in hand (socks, mattress, safe), and bite the inflation bullet. You never know when the (((banks))) are going to fuck you over.

>>128578574
Ethereum has a concept of smart contracts and distributed applications.

just start reading the whitepapers of these new blockchain startups

https://steem.io/SteemWhitePaper.pdf

also too lazy to find the bitcoin and ethereum white papers but those should get you started.

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>>128572320
eth is superior

There are always those mentally retarded conservationists that refuse to look past their noses when it comes to new technology. They don't even want to try to imagine the benefits of a new technology because they are so used to being mouthed their habitual hubbub of daily life. These are the demented, the old and weak, the women, niggers and the children. Never reason with them, and most certainly never let them into your library if you want to protect the grace of your intellectual integrity.

>>128578880
Salty nocoiner confirmed

>>128576798
I did, DGB and RDD were the big gainers. I'm probably gonna pull out of DGB on the 9th since I think it'll dip once the meeting hype is over though.

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>>128578861

Bitcoin 2 year logarithmic scale. Find the bubble.

>>128578835
Out of interest, how does one buy coins without risking bank account? I know many countries if bank sees you paying an exchange, they close your account with no redress.

>>128578861
I'll take the bitcoin bubble over the everything bubble in fiat-land anyday.

>>128579076
But the blockchain is the real revolution. Your analogy is not correct.

A more apt one would be that a blockchain is like an operating system and bitcoin is but a single application running on it.

>>128579434

you use localbitcoins

>>128579076
No I'm talking about dedicated blockchains that are not cryptocurrencies.

Use in logistics, manufacturing etc.

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>>128579172
no religious wars plz. We need all the manpower we can get. infighting is how (((they))) win.

>>128579506
My experience with those in the past is very low liquidity, bad prices and nobody wants to sell bitcoin, everyone wants to buy it

>>128579434
coinbase was a ycombinator backed startup that's pretty reputable. As far as the sketchier coins i think you buy btc and transfer them at another intermediary exchange. don't do straight cash for scamcoins.

will we be free from the jews if we transition to bitcoin?

>>128579134
Cheers for the reading content and directions m8

>>128579721
When there is more ATMs or these become exchange traded, I think the price will skyrocket as suddenly Joe Public can use them, which they really find too awkward at present.

>>128572746
You can't just leave us at that Straya... I for one demand information.

>>128579076
Curious, why the loyalty to bitcoin? You work on your own btc based projects?

I just think bitcoiners have a tougher road ahead than eth. I'm still new at this though so forgive my potential heresy.

>>128579731

You will be free from an abusive financial system that devalues your money by 2% on average every year and punishes savers instead of rewarding savers.

>>128579966

Bitcoin and Ethereum are both great, they do two very different things.

Bitcoin is a store of value, settlement network and peer to peer cash network.

Ethereum is the fuel used for running unstoppable applications (imagine a darkweb website such as Silk Road impossible to take down)

Bitcoin has a hard cap of 21 million. Ethereum has no cap (because it is supposed to be used as fuel).

If you ask an Ethereum dev about it they will openly admit that Ethereum is not meant to be Bitcoin. It is not meant to be used as peer to peer transactions, store of value or settlement network.

They are both great because they are both groundbreaking and do very different things than eachother.

>>128579731
yes. think about it. Every retailer that has a creditcard machine loses 3-5% to (((them))) on every purchase. blockchain based currencies could get that transaction cost down to .01% probably more.

Also its not only that but you can do things like smart contracts and even create decentralized autonomous organizations. It empowers the individual in so many ways. mostly because we are getting fucked so many different ways right now.

>>128572746
Plz we are hungry for knowledge. Also you don't have much time before china buys your country outright. So talk fast.

>>128573028
>the cryptocurrency keeps rising
That's where you're wrong kiddo

What will happen to BTC when quantum computers break asymmetric encryption?

>>128572320
It will be banned soon so why waste money on it?

>>128581007
You can't ban it.

I mean so many financial institutions are against it and already close accounts sending money to exchanges that it is effectively already banned but they cannot stop it.

It is hilarious that it is a few Chinese bitcoin miners that basically have all of bitcoin by the nuts, and it is stupid Internet freedomtards pushing it all over. Good luck with your uasf, lol.

>>128581004
quantum computers will never happen

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>>128580897

lol ya

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>>128572995
This

jeez, is it Bitcoin thread o'clock wtf

I was a believer in Ethereum but then the DAO shit happened and now I can never trust it again.

What's the most technologically interesting cryptocurrency atm?

and also, as a professional programmer, isn't it a great idea to take advantage of the recent crazy btc swings and invest a little bit of money & write an auto-trading program for myself? not looking to make bank, just to get small gains here and there

>>128583412
Just watching some vids on mining. Seems like an issue of managing power consumption vs bitcoins mined. How do you make this profitable without investing shit tonnes into graphics cards?

>>128584163
or is the real money in doing what this guy says? >>128584110

>>128583013
You'd be surprised UTS SYD just made a great leap In mapping the specifics of outcomes in relation to singling out the abstract answers of quantum computing

>>128584163

You mine Bitcoin using ASIC miners, basically it's not a graphics card but a small computer with 10 to 20 asic chips.

You're right that its managing power consumption vs. bitcoin mined. You make it profitable by keeping electricity cost as low as possible, right now mining is incredibly profitable.

So think about putting your Bitcoin miners in places where climate is cold (good luck with that in straya) and energy is cheap, so maybe near a power plant or hydro energy plants like a dam.

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Lets laugh at all the nocoiners HAHAHAHA

STill not buying Augur (REP) anon, tststs

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>>128572320
Yes central bank created fiat money is a problem, but BitCoin just adds barriers to value - it doesn't reduce them.

BitCoins are worth $x, yes Dollars - they value is measured in dollars. So whats stopping the Fed printing dollars and buying all the BitCoins thereby cornering the market and regulating the value of them? BitCoin are totally owned by (((them))) and they do not offer a safe store of value or reliable anonymous exchange. Apparently to redeem your BitCoin into fiat currency for spending you have to give your social security number and personal details etc., so its not anonymous and website like CoinBase have no legal obligation to actually give you your fiat back.

BitCoin is literally one big bubble.

check out this shit-a-pallooza of a video that serves to demonstrate how complicated the whole mess is, and its a pro-BitCoin video: https://www.youtube.com/watch?v=QjZk7N7RXfA

Buy Gold and Silver bullion that you actually hold in your actual hands in real life for reliable value saving.

>>128584302

It's in both, it just depends how big you are willing to go. I'm going to get into mining this july with $1k to support the UASF (BIP148), but I mostly buy and hold Bitcoin. I expect BTC to be around $10k in 2020, and much more than that in 2030.

Keep researching

>>128581004
Quantum encryption

>>128572527
Shit b8 m8

>>128584604
>>128572320
wow...so many shills out against crypto currency. Establishment terror shitting is real.

>>128572527
Oh look, it's Macaroni. How's your mum?

>>128573133
It's not trustless. Wire me 10 bitcoin and I will Email you a bridge :^)

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I really like the idea of bitcoin.But there are a few issues I have

1) It's more like an online equivalent to cash in that there's no safety or protection of your funds. If someone takes your wallet, your cash is gone and there's nothing you can do about it. If someone gets a hold of your bitcoin keys, you're fucked too. At least if someone hacks into your bank account, you can have shit reversed. Of course, you can always just say "that's your own fault" but still

2) it's value isn't stable. It's more like stocks or commodity speculation at this point. Maybe in the future it will level out, but certainly not today. It's simply not something that I would keep all my money in long term. If I put in 100k today, it could be 200k in a year, or it could be 50k in a year. I have no idea.

3) Since it's virtual, it is absolutely 100% useless in a situation where the internet/power grid goes down or SHTF.

My conclusion is that bitcoin is more like a stock. You can save money in the bitcoin market and watch as it goes up and down, but it's not really a way to store and CONSERVE wealth. And that's what I want. I don't want to make money through market speculation. I just want a way to retain my wealth. Especially if/when shit hits the fan, in which case BTC is absolutely worthless.

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>>128584786
have you seen the video I linked? Its just a mess of confusion about how unreliable bitcoin is. I've been watching bitcoin since 2009 when after the bailouts, I knew (((they))) would be pushing for a cashless society, and BitCoin was the perfect expression of a cashless society, so I haven't trusted it EVER.

I promote Gold and Silver bullion which isn't what the central banks want so you have no idea what you are talking about.

In fact I think you are the NWO shill pushing your cashless society bullshit with BitCoin shite. You are shit at your "job"

>>128584446
I've been looking into solar with a mate of mine. So hypothetically speaking, if I can get the power consumption to down negligible costs, this would also help offset my mining capacity? How profitable with what level of equipment?

>>128572320

bitcoin is a huge scam.

there are guys who own 400. 000 bitcoins ( for example knightmb, look him up)

i wouldnt put my money in something just 1 retarded person i dont know can crash.

I'm taking a more conservative route and putting my money into real estate. It can't be wiped out by a keystroke.

>>128585516
I can be wiped out by the government deciding to settle niggers in your area. Consider yourself lucky if you lose only 50% of your investment.
That's why you should never buy real estate in Germany. They can plant a container village into your neighborhood over night.

>>128585246
Oh, and I forgot to add something important having to do with points #1 and #3.

We all know that the CIA niggers have advanced hacking tech and can get into whatever devices of yours they want if they so choose. I fucking GUARANTEE you that if shit started going down (currency crisis, civil war, hyperinflation, collapse of the US dollar, etc etc etc) that the CIA niggers would IMMEDIATELY drain everyone's bitcoin wallets in an effort to prevent the dollar from collapsing all the way and/or as a way of cutting off the funds of dissidents/opposition in the event of a civil war

And if you don't think they'd do that, remember that FDR put out an executive order during the great depression that it became illegal to own gold, and that everyone was forced to trade in their gold for paper money or have it just confiscated outright. They'll do the same fucking thing with BTC. Except since it's virtual, all they need to do is run some algorithms. Don't even need to go door to door and make you hand anything over. They can do it from under your nose.

>>128584446
I'm going to uni next year. The uni accommodation bills are fixed (meaning doesnt matter how much electricity i use, the price it the same).
ASIC miners, here I come :33

I have loans with the banks. Should I just not pay them off and let the Canadian dollar go down the shitter and pay then off when the dollar is worthless? Or what happens if the banks close?

I buy a lot of cryptocurrency. There's a shift going on in my opinion. But try convincing others it's a lost cause.

>>128573573
You don't have any savings?

>>128585776
wtf I hate the government now

>>128575560
SELL SELL SELL

>>128585995

That's brilliant!

>>128585356

You'd have to do some mining profitability calculations (google for mining profitability calculators, there are many good ones out there)

Alternatively you could look into renting a room that has all expenses paid like this anon
>>128585995

and just put 10 miners in there. I think these days a decent asic miner will run you around $1k to $1.4k

I invested in TAAS, an ethereum based ERC20 Token that will give you dividends every 3 months and it rose from 1$ to 3,4$ now. Pretty easy money

>>128579434
What's it like back there in 2015?

>>128585473

lmao you dumb, 400k causing a crash hahahahhahahahahhahahha

confirmed autist germanistani

>>128586545
How long will it take to earn back that $1k-$1.4k via mining? Or do you need to write an auto-trading program to actually make it viable? Any up on github?

>>128587222

You don't have to write an auto-trading program, but it depends on the profitibality. Use a profitability calculator to figure out how long it'll take to make it back.

>>128572320
digital fiat that has technical limitations.

currently only owned by speculators and criminals

what's there to understand?

>>128573028
>>128573110
>>128573206
Holy shit, neck yourself, honestly.

>When banks reduce their appetites for making loans, economies slow down and suffer.
The banks refusing to hand out loans and therefore the economy slowing down is a sign of transition away from this enslaving debt based economy we live in. I can't believe how anyone could say "The economy as it is right now requires everyone to be drowning in debt and that's a good thing and should be preserved".

>the banks will need massive capital infusions from governments, just like last time.
Yeah, no shit puppet Governments are interested in maintaining the current debt based system since it constitutes a very effective means of enslavement. Does that mean it is not in our best interest to still attempt and make the transition? All of the problems you mention are literally mechanisms put in place so that any attempted transition would have be faced with them. Does that mean we shouldn't attempt it and forever remain slaves to debt?

>>128584604
>So whats stopping the Fed printing dollars and buying all the BitCoins thereby cornering the market and regulating the value of them?
The fact that the supply can be expanded through mining by the community itself? What you're suggesting implies that the supply of BitCoin is fixed. Only then would the Fed be able to print money so as to buy all the BitCoin to then gain control of it.

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>>128586561
I turned my 390€ into 800€ day trading and gains from LTC and XRP moons (sold both too early though). Then I went all in an longed ETH with my measly 800€ opened a position at ~85€ and watched it to moon opening up new positions as my equity increased. Pic related, profit after closing my two starting positions.


I never made easier money in my life. I don't even know how the fuck this happened, Money is falling on me and this is way too good to be true.

t.ex minimum wagecuck

I turned 0 to 4000€ in a single month by not being a NEET and wörk.

>It's another "/biz/ shills on /pol/ to scam them into being bagholders for their pump'n'dump schemes." episode

>>128587809

literally finish reading the posts before replying next time, gyro

>>128589059
I read your three posts I replied to, and every single one before it up to that point. Was too pissed to bother with the rest before replying.

>>128588354
>the supply of BitCoin is fixed

Yes - the supply of BitCoin is fixed. there will only ever be a certain amount available to be mined and then no more can be created after that limit is reached.

>>128584698
>>128577341
So how will BTC work without asymmetric crypto? I'm not an expert. Is there an asymmetric crypto method that's strong against quantum computers?

>>128576806
Love the idea.

>>128591013
Using photons that have been polarized in a certain way for key exchange. The bits can not be observed by a third party without changing 50% of them on average.

>>128590274
Are you referring to the 21 million number? We are not about to reach that number any time soon. We're at 16 million and something if I remember correctly, and the more the Bitcoin supply, meaning the BitCoin that have been mined and are in circulation, increases, the harder it is for them to be mined, therefore the rate at which the supply expands will decrease and as a result will take even longer for the limit to be reached. The money supply being fixed is irrelevant until we actually reach the 21 million BitCoins mined number.

>>128591616
So the number of BitCoin is fixed then regardless of "how long it takes to mine them all".
have you seen the video in my original post?: >>128584604

It just demonstrates how complicated Bitcoin is. It's unreliable. Read the comments as well.

>>128591531
Doesn't that require special infrastructure though that doesn't exist now? I don't think that kind of "quantum data" can be transmitted via normal binary.

>>128592626
>So the number of BitCoin is fixed then regardless of "how long it takes to mine them all".
Yes, but that is not a concern, in my opinion, as of now, considering we haven't reached that point yet. And no, I haven't seen the video yet, haven't had time to. Here's the thing though: your criticism of a fixed money supply therefore the potential control of the currency by buying a large portion of the supply of the currency that happens to be in circulation is also applicable to gold and silver, which is what you suggest people should buy instead. So in a sense you can think of BitCoin as the Gold or Silver of today's day an age. Also, since I haven't watched the video I don't know how BitCoin is "unreliable", but I imagine it is something that has to do with its digital nature. Well.. there's no escaping that though. I suppose that's the trade-off for how convenient trading online using digital currency is.

>>128592626

ur retarded m8

its ok

>>128593700
>also applicable to gold and silver,
you make a good point.

I recommend gold and silver only because it has been money for 1000s of years, and after economies crash, people always revert back to them. I know gold and silver price can be manipulated in dollar value, but I always say an ounce of silver is worth an ounce of silver - not however many dollars. When Bitcoin value is manipulated you dont have anything.

>>128594092
please explain why you think that. Maybe you are just too stupid to understand whats being said? Maybe you are the retard?

>>128594328
Silver is Silver and Gold is Gold only because people perceive it as valuable, therefore are willing to rely on them as a form of currency. People have reverted back to them each time because up until now trade has taken place strictly only in the physical world. That's not the case any more though. So unless you can figure out a way to make online trade happen using either Gold or Silver, the next best thing you could strive towards is creating a currency with similar properties to those of Gold and Silver, but without the limitations that Gold or Silver as currency pose when it comes to online trade.

>>128595610
unity ingot

>>128572767
Your meme coins are done now that Segwit is confirmed.

So how much bitcoin do I need to guarantee I'm a millionaire?

None of which will matter when the power grid goes down and nuclear reactors start melting down all over the place.

>>128596124
>>128596318
Care to elaborat about Segwit?
You need about 380 BTC for a million dollar.

>>128572320

Nowadays cryptocurrency is very speculative. It fluctuates like crazy.

When it stabilizes, what will governments and central banks do?

>>128572320
bitcoin is a ponzi scheme

a lot of people are going to lose a lot of money and a few will make a lot.

further it's a stupid system

there is no intrinsic need for the hashing to create the tokens of exchange

mining coins is a rigged lottery.

the tokens of exchange could be created out of thin air like the banks do

99% of the computing power used for bitcoin is wasted on unnecessary pointless number crunching.

>paying some chinks jewcoins for buttcoins

lolno
Let this meme die.

Anyone wants to buy some marbles and mirrors from me? I also have some Jewish gravel aka diamonds on sale.

>>128596586

sacrifice efficiency for social scalability

>>128595610
Gold and Silver are used as money because they dont rust - they dont perish EVER. They are fungible, divisible, rare etc. all the things you need to define money.

Bitcoin doesn't exist and you need internet AND a power supply both of which are government controlled (really).

Bitcoin increases the barriers to imaginary value. Gold Silver IS value directly.

>>128597133
I'm a beekeeper. In the absolute worse case scenario, I can even eat my honey. Can you eat gold/silver/cryptocurrencies?

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>>128572320
Can someone with more knowledge about memecoins answer this for me?

Buttcoin and other block chain currencies are finite because of the computing cost to mine more at a certain point, so people always say "dude no inflation lmao". Since they all do the same thing and there can be any amount of different memecoins, why wouldn't other memecoins cause inflation to the value of every different memecoin?

>>128597133
>Bitcoin doesn't exist and you need internet AND a power supply both of which are government controlled (really).
So then the requirements for BitCoin's existence are similar to those of non-physical transactions. Also the internet isn't government controlled, not yet at least, but there has been a massive push lately, which I'd partly attribute to the existence of cryptocurrencies. Now regarding power, what the hell is the government going to do, introduce a universal black-out so as to prevent trade using BitCoin? So given that online "digital" trade is not going away, what is your proposed solution to the problem of currency?

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>>128598770
also, what is solar energy?

Captcha, what the fuck.

>>128597605
Stop asking faggot questions you already know the answer to. Its not like you are the first one to point this out and its not like I've never heard this argument before.

You can exchange gold and silver for food anywhere in the world and its easier outside the "developed" "free" world, and anyWHEN throughout the entirety of human history..... up until about 1972.

>>128596586
Small price to pay for removing trust from the equation.

>>128599668
Yeah, there's also Solar Energy I suppose. Honestly, the more I think about it the more I realize how important Autonomy, in almost every sense of the word, is in this day and age.

I don't fucking understand a word of this shit and I work in software dev. Anyone that tries to explain it just fucking muddies it even more for me.

>>128598770
The government can pull the plug on the internet and the power supply any time they want which they would do if it meant government becoming irrelevant.

The solution is an interest free currency. Usuary is the problem. I advocate Gold and silver for individuals to store wealth rather than having a gold or silver standard.

>>128600417
Its not mud - its shit.

Check out just how full of shit the water is in this video:
https://www.youtube.com/watch?v=QjZk7N7RXfA

If anyone thinks BitCoin is legit after hearing this shite has been brainwashed by the bitcoin hucksters.

>>128600490
>The government can pull the plug on the internet and the power supply any time they want
As people before me have mentioned, there's Solar Energy. Not only that but do you think the Government would cause a universal power outage or loss of connection to the internet and there would be no reaction to it? C'mon now man. Even the Government has limits within which to operate. And of course you're still not proposing a solution to the problem that Gold and Silver are not viable forms of currency for when it comes to online trading.

It's just tulip mania. Once the deflation inherit in all crypto currency kicks in people will abandon it.

>>128602378
>It's just tulip mania
SHUT YOUR MOUTH!

Somebody try to pick my reasoning apart, I think BitCoin is one of the most incredible technologies to happen to humanity since the printing press or the Internet itself.

A) No middlemen. Banks obsolete. Even lending arrangements would be entirely individual-on-individual and built in to the protocl. Unless, of course, a lending company keeps a BitCoin balance, but then they're not a bank per se because there's no need to keep deposits anywhere.

B) Taking down any blockchain would require EMPing the entire planet. With enough miners around the world, redundancy is massive and nothing is centralized.

C) Hacking blockchain would be incredibly difficult. You either alter the protocol (which given the expertise and number of people involved, somebody will catch), or you hack thousands upon thousands of miners AND break the encryption to alter the blockchain ledgers. Plus, with regards to the protocol itself, its features and updates are determined by an open source committee, which is going to have interest that are nowhere near those of a central bank. Alterations favoring states and central planning would be vehemently rejected.

I'm convinced wars are going to be started over this. Banking hegemony and the power of politicians would wane immensely, and they're not going to let it go lightly. But I find it inevitable. Maybe an economy mixed between BitCoin, gold, and silver. But fiat currencies will die. They never last, central planners are too fucking stupid.

>>128602148
Im saying the solution is a currency that is created without interest.

>do you think the Government would cause a universal power outage or loss of connection to the internet
yes - because who do you turn to in times of trouble like that? The government" The government thrives on problems like that and in fact I believe they cause problems like that to provoke dependence on government. They become more relevant and needed when catastrophes happen.

Gold and Silver are only good for individuals who want their wealth preserved, but a gold or silver standard is a bad idea

Isn't bitcoin the one world currency of the new order?

>>128602378
Its tulip mania where the tulips are imaginary.

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>bitcoin

>>128602995
how do you pick which cryptocurrency to use? Wont there just be a succession of popular cryptocurrencies that pop and then crash, depending on which is in vogue?

>>128602995
ORDO AB CHAO
This is the plan of the bankers

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>>128572320
>Shilling BTC when it's at all time high
Sell the news

>>128603574
On Poloniex, I usually pick the big hitters with most volume. Don't chase the pump and dumpers. Just look for total market capitalization. There's $30 billion +/- alone.

>>128603204
>I'm saying the solution is a currency that is created without interest.
Not sure I entirely understand what that means but wouldn't BitCoin fit that description? At least until the point we reach the point of having mined all available BitCoin. I wonder.. what happens then though.. since for a currency to maintain stable purchasing power the amount of that currency in circulation must be linked to the amount of produced goods.

>>128603574
I imagine it will be picked as currencies have historically, through network effect of something with agreed-upon value. There will be niche currencies for specific kinds of transactions, then the standard one for the average joe, which will likely be BitCoin the way things are going.

>>128603574
Invest in ten cryptocurrencies, if nine flatline and one gives 4000% roi [as bitcoin did over five years] you still end up with 3000% profit.
But nobody is saying you aren't taking the risk of losing everything.

>>128572320
Cryptocurrency is like Microsoft was in 1989. The fact that the currency can not be inflated, or even be hacked into by a central server makes the currency extremely interesting. More and more businesses are using it and it is true that the financial system is modeled after your typical 1978 style office setting. Since technology has evolved to the point that it has in all aspects, as too will currency and payment for goods and services.

We are making history anons. Instead of going drinking for a weekend, toss it into a currency. You won't regret it.

>>128605148
>toss it into a currency. You won't regret it.
YA MORONS BUY IN AT THE ALL TIME HIGH. YOU WON'T REGRET IT AT ALL.

>>128572320
>Trusting a currency that's more volatile than Trump's mood
don't do that

>>128604725
Bitcoin may be interest free but it doesn't actually exist and there are more barriers to value than any other monetary system.

Also, have you ever cashed out bitcoin to fiat? I heard its quite difficult for large amounts and requires social security numbers and giving up your anonymity and such.

>>128605511
>requires social security numbers and giving up your anonymity and such.
Requires this just to buy BTC legally.

>>128605511
Yes, use a gateway like Coinbase. And yes, sometimes it takes time to cash out. What's the problem? You're not buying RPG's are you? If you are using it for good purposes, you have nothing to worry about.

>>128605339
>YA MORONS BUY IN AT THE ALL TIME HIGH. YOU WON'T REGRET IT AT ALL.

Yea, I'm sure the same assholes are regretting buying Ethereum at the all time high last year at $10...

>>128605779
I also heard coinbase has no legal obligation to give you your fiat back. If it decides to goes bust everyone loses.

>>128605148
The currency can be inflated\deflated in relation to the demand of other cryptocoins, as anyway can make a duplicate system for coins that serve the same purpose as bitcoin. Bitcoin is retarded because its infrastructure is open, so creating new coins is easy, and if they arent somehow intrinsically different to bitcoin in a way that makes them valuable, its basically just increasing the market cap of bitcoin with a different name, which in turn lowers the value of bitcoin, despite people claiming scarcity is built in, it isnt, thats a fucking lie.

The only cryptocurrency worth shit is something that is intrinsically valuable and hard to copy, i.e etherium and synereo.

t.Former Investment Banker

>>128605511

>social security numbers and giving up your anonymity and such.

There are ways of making the transaction anon using tor.

>>128606180

>I also heard coinbase has no legal obligation to give you your fiat back. If it decides to goes bust everyone loses.

If you don't trust the gateway, then don't use the gateway. You clearly don't understand blockchain, do you? Nobody has control of your wallet, except you, or a hacker if you're stupid enough not to use 2 Factor Authentication.

>>128606044
Is BTC at 10$? 20? 30? 100? 200? 1000? 2000? No?

There is a difference. Just telling people to use their heads, are you opposed to this anon?

>>128605511
Yes, it's true that it requires a whole bunch of paperwork to "cash out" BitCoin. I personally avoid that by having someone else perform any such exchanges, be it either buying or selling BitCoin, and then sending them to me, since sending/receiving BitCoin doesn't compromise your identity. Wallets are not associated with any identifying information after all. And even the person I get to buy/sell BitCoin for me, in the scans of papers that he submitted so as to be able to trade in such marketplaces, he heavily watermarked them beforehand and they were still accepted. Beyond that there are even (probably illegal though) marketplace which have no such requirements. But then more trust issues are introduced since it's harder for people to be tracked down to then be held responsible in case of complications.

>>128572320
>tfw i try to ignore bitcoin threads at all costs because I should've bought in when they were 5cents, but i didnt because I was a poorfag stoner at the time too lazy and beta to invest in something and im still salty about it

feel bad.

>>128606522
Have you seen this? > https://www.youtube.com/watch?v=QjZk7N7RXfA

I dont think anyone understands and those who claim to understand are LARPing or brainwashed by the bitcoin hucksters. If you can explain anything these two in the video are saying i'd be amazed.

>>128606828

I encourage everyone who's interested in this to educate themselves, like I did. What's mining? How do I send currency? What's blockchain? What the hell IS a cryptocurrency and why can it be so potentially valuable?

People need to spend time to understand what this is for themselves. Don't trust the media to educate you. If you are interested in this, read up on it.

>>128607027
Same here. Now I have spare cash but it's too high. The future we chose.

bitcoin is a money laundering scheme.

>>128608745
and a facilitator of the black market

>>128607402
>read up on it.
I did, and everyone says that they need a big portion of the world to be on board for it to really take off and that's just not going to happen until they make it easier for people to buy in and out, hold and spend. Without these processes working nicely it won't go anywhere.

>>128606249
This is the main reason I am very tepid with putting a large amount of savings into Bitcoin and crypto in general. The ease of cloning and modifying Bitcoin, along with the low rate of adoption scares me when something that can blow BTC out of the water could gain traction overnight. Hell, LTC is a copy of Bitcoin pretty much and for transacting functions far better. In a rational world we'd all be using it instead of BTC. But I guess expecting rationality in any market is a fool's errand. I own a few thousand in BTC, ETH, XMR and STRAT and have my eye on Bancor but the blockchain needs a killer app and if one is out there I don't see it right now.

>>128572320
Your line of thought has one essential error:

When quantum computers start to be a thing, encryption becomes useless, thus your bitjews valueless.

>>128572320
Bitcoin is the ruse to get a global currency installed, and once the bottom drops out and hell breaks loose from a big "hack", you can bet your ass that is the moment you will need biometrics to get on the internet or do any transaction, and a global government without representation will be born to oversee it all. You play ball, be a good shareholder citizen, or they turn off your chip, and your life is fucked. Fucking fools. If you can't hold it in your hand, it is a fucking scam. IF YOU CAN'T HOLD IT IN YOUR HAND, IT IS A FUCKING SCAM.
One big solar flare, a carrington event, and bitcoin goes to shit. Can and will happen again.
Better to invest in REAL things, not fantasy bullshit that doesn't really exist.

>>128611489
If you can hold it in your hand, you can be scammed, big-time. You kind of need banks to have an economy based on precious metals, goy. Blockchain obsoletes banks and centralization.

>>128585995
Careful with that though, it isn't always use what you want. You might well get charged for using over a certain limit. Just be sure to carefully read the tenancy agreement.

>>128611375
Synereo is what you're looking for, their blockchain protocols have the ability to handle heavy media like images and videos and they've got all kinds of shit in the works for it to be the not only a currency but the base infrastructure for a decentralized internet, thats the real revolutionary shit that no ones talking about, buying into it when its released will essentially be like crowd funding new uncontrollable internet infrastructure.

Thats something you cant easily copy like bitcoin ect, and having more than one would just be inefficient and so I see most people putting their money into that and only that unless a viable competitor comes out.

ethereum wanted to do the same thing but they dont have the ability to handle heavy media, plus they are competing against their own forked block chain because the retards who run ETH reset the whole thing.

Honestly bitcoin, ltc, ect are not good investments, they are not good stores for value as they are essentially just a house of cards.

There are blockchain tech and currency ideas out there worth investigating though.

>>128572320
anyone tried to mine bitcoin from solar power? because that would be free

>>128611775
I'm well aware of how it all works. Also aware that there are computing farms that can get over 8 block in a row, and that is only going to get worse. It is just a matter of a few years until the whole system is unstable. Fire up largest ddos/cpuBurn against nodes + execute CPU/GPU^10^10 calcs = SYSTEM FAIL

Make your bullshit money while you can. Sell it for real money before it is worthless. Encryption based system is not going to stay secure long.

This is not an endorsement for banking dynasties. We just need to go exterminate them, burn their ivory towers, and realize that fractional reserve did not promote "progress" of human kind, instead it fueled the burnout of our natural resources because we were idiots who participated in an economy dependent on infinite growth in a world of finite resources, fueled by hedonism and greed.

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>>128611489
Now THIS is schizophrenia

California is pushing a bill to ban crypto from American use, it's already over.

>>128612776
Thanks for the heads up. I have no illusions about the long term prospects of my crypto investments. I'm long past the point of realizing a profit back in fiat of my initial investment. I'm riding the wave while I can at this point. But blockchain tech is very exciting and I'm in love with the idea of an incorruptible decentralized ledger.

>>128611489
This

>>128611489

never a good pol thread without a psychotic tinfoiler

>>128584886
that's what smart contracts are for, as implemented on ethereum
the trustless aspect of bitcoin is that once it's sent, it's sent.

>>128585246
on #2
it'll get more stable the bigger the market for it gets.

>>128585516
>>128585733
correct.
diversify your investments in to all kinds of different things
bullets
gold in holes in the ground
stocks and etfs
land
etc...

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>>128613233

>>128614357
Yeah, totally skitzo... When earth goes dark, and the generators run out of gas at the server farm and shuts down a few days later, how much is your crypto currency going to be worth?
We've had 3 celestial bullet grazes in the last 12 years... Do you understand? We almost got sent back to the stone age 3 times in the last 12 years. You city dwelling crypto currency pushing fools will die within a week, broke, and no where to run.
http://news.nationalgeographic.com/news/2011/03/110302-solar-flares-sun-storms-earth-danger-carrington-event-science/

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>becoming rich
>in a currency nobody uses

>>128572320
>Limited number of bitcoin
>Suddenly one person owns them all
>Richest man in the world
>Everyone just switches to some new meme currency

Nice try, but it's never in a million years going to work.

>>128573110
Except that banks aren't trading cryptocurrency and this can all be avoided by not trading it

>>128616066
are you retarded?

>>128616538
You can't just "own" them all, there's no central bank to raid.

>>128572527
>the State must control the economy.

the state does, bitcoin is for black market goods but still controlled by the US military

>>128573206
>since governments cannot mine cryptocurrency like they could print currency,

don't dare them because they will grow more poppy plants

>>128613233
>a world of finite resources

the world has infinite resources but some of it you have to wait for it to grow back so you can spend a long time waiting

>>128613334
Its spot on you fucking shill

>>128572320
A currency that is fully traceable by any willing party, requires ID to trade and is heavily owned by just a few addresses?
Fully aware of the implications, thanks.

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>>128572320
I get it - how disruptive and huge it is- but I don't understand how to capitalize on it now. Teach me!

>>128573206
The way you laid that out, absolutely riveting. And a fresh idea to me, thank you Mr. France!

>>128621668
Thats Holland

>>128572320
Op invests heavily in bitcoin
>Buy bitcoin guys!
You are the Jew now

Lets laugh at all the nocoiners, made 2k since yesterday :)

>>128611489

Everyone talks about muh real investment but doesnt say what.

Aware me.

>>128625028
Yeah - its like a bubble isn't it?

>>128606522


The fiat ccy risk at coinbase i get.

What if you transfer fiat currency to coinbase, then proceed to buy eth/btc and keep those coins in a wallet on coinbase.

Is there a way to lose your cryptocoins then e.g. through a coinbase default or similar incident at mtgov

>>128572320
Bitcoin is amazing. Only, let's hope no one invents a quantum computer because Bitcoin will be donezo

>>128626433
Apparently, if you are worried bitcoin or any crypto might crash in value, you can use your crypto to buy TetherCoin:
https://tether.to/
which will always stay at $1 per coin so you protect yourself from crashes in value

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>>128625028