Tacticular Cancer: We'll have your balls

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Technology Bitcoins

Discussion in 'SCIENCE!!' started by kaizoku, Dec 8, 2012.

  1. Reapagender: ⚧ Doom Preacher

    Reapa
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    https://coinmarketcap.com/all/views/all/
     
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  2. Make America Great Again The Brazilian Slaughtergender: ⚧ Arcane

    The Brazilian Slaughter
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    I wonder if Cryptos could be used as the basis for a Energy-Backed Currency...
     
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  3. Make America Great Again Lady Errorgender: ⚧ Arcane Literally Hitler

    Lady Error
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    You're simply ignorant, that's all. Buy at Coinbase.com, they charge 1.5%. Or Bitpanda.com in Austria. But as you are a typical sceptical German, you'll probably find reasons to reject it and not take the opportunity to invest even a little.
     
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  4. Burning Bridgesgender: ⚧ Enviado de meu SM-G3502T usando Tapatalk

    Burning Bridges
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    :what:
     
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  5. Reapagender: ⚧ Doom Preacher

    Reapa
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    right, i didn't have the patience to browse through all existing exchanges. when i read the first one what i saw made me even more skeptical of the others. it said there were no hidden fees. which for me means that hidden fees are common enough for them to point out that they had none.
    that and the list i just posted a few minutes ago made me realize there was no reason not to just go to a casino and be done with the itch of making a lot of money fast.
    there's also the fact that a bitcoin is now worth 15,800 when it was only worth 10,000 a few days ago. from 1,000 to 10,000 over a year is ok. from 10,000 to 16,000 in a few days is not ok. it's possible that the sudden surge is due to the recent episode of the big bang theory reaching a lot of people who bought some bitcoins to put under the christmas tree. it's possible that it will still grow till christmas to a ridiculous high. i'm fairly certain that it will have dropped a lot in value by the second day of christmas at the latest. how soon will it drop and how low? how high will it go?
    betting a little on it would be pointless, betting a lot on it would be stupid. the middle ground would be both pointless and stupid.
     
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  6. Make America Great Again torogender: ⚧ Arcane

    toro
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    You have bitcoin.de in Germany. It's one of the safest exchanges on the market.

    Don't invest more than you can afford to lose. If you cannot afford to lose anything then don't invest cause investing in shares or coins is the same fucking thing: gambling.

    I agree that Legacy Bitcoin (Segwit) has gone off the deep end. A lot of dumb money is pouring in into a coin which is un-scalable at the moment. The market is irrational and it will end badly for a lot of people.

    To keep it short: the blockchain technology represents the future of money. Bitcoin will rise and fall, almost all coins will do the same but it doesn't really matter because there is a big probability that we will all use a blockchain-based coin sometime in the future. In fact, many central banks are working on issuing digital currencies (private banks are already using Ripple).
     
    Last edited: Dec 8, 2017 at 8:38 AM
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  7. taxalotgender: ⚧ I request a spice shipment immediately. Patron

    taxalot
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    As a taxman, this makes me slightly worried. That means you should be worried too.
     
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  8. Make America Great Again Lady Errorgender: ⚧ Arcane Literally Hitler

    Lady Error
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    Except if you leave your money in solid cryptos for several months or a year or two, there is a very high chance you will multiply it. But to understand that, you'd really need to research why that is the case. Yes, the current surge is crazy and irrational, mostly due to dumb money. Many people expect a good correction this month or next - maybe around 50%.
     
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  9. Make America Great Again torogender: ⚧ Arcane

    toro
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    Please explain.

    Are you referring to the fact that all transactions are in plain view?
     
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  10. taxalotgender: ⚧ I request a spice shipment immediately. Patron

    taxalot
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    Well. That's new to me. Are you saying that governments have access to all the logs and records of bitcoins transactions?
     
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  11. Chaotic_Hereticgender: ⚧ Magister

    Chaotic_Heretic
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    Bitcoin is the future One World Currency for the NWO.

    Buy some now while its cheap guise (and sell before the the speculation bubble bursts).
     
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  12. Make America Great Again Lady Errorgender: ⚧ Arcane Literally Hitler

    Lady Error
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    Bitcoin is not the NWO currency, but they will want to trick people into thinking that their 1984 coin will be much better because it is issued by the state.

    And Bitcoin already went through several bubbles and crashes, so that's nothing new. There will be at least a couple more.
     
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  13. Make America Great Again torogender: ⚧ Arcane

    toro
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    You can check any transaction from the beginning of the blockchain. At least for Bitcoin.

    https://blockchain.info/

    Click on the block -> see transactions -> click transaction -> see inputs and outputs.
     
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  14. Burning Bridgesgender: ⚧ Enviado de meu SM-G3502T usando Tapatalk

    Burning Bridges
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    Imo bitcoin has nothing to do with NWO.

    It's just a repetition of the 2000 dotcom desaster. Greed makes people totally bypass their critical mind, and even if they have fallen hard you can arouse their greed with a new idea every couple of years.
     
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  15. Make America Great Again janjetinagender: ⚧ Arcane

    janjetina
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    Have you guys heard of the future Venezuelan crypto - Communero? It will be backed by oil and empty shelves.
     
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  16. Chaotic_Hereticgender: ⚧ Magister

    Chaotic_Heretic
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    So petro-dollar to petro-crypto?
    Yeah right, as if uncle Sam will play nice.
     
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  17. Burning Bridgesgender: ⚧ Enviado de meu SM-G3502T usando Tapatalk

    Burning Bridges
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    I heard of "Communismo"
     
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  18. Make America Great Again DragoFireheartgender: ⚧ all caps, rainbow colors, SOMETHING.

    DragoFireheart
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    What's to stop Bitcoin from being hacked and devalued?

    As far as I understand, Bitcoin is virtual Monopoly money with strong crypto-technology as a check to prevent duplicate coins from being made. It has value because it can't be replicated (iirc there's a upper limit of 2 million coins, coins can be cut into pieces infinitely downwards though.)

    EDIT: Yes, I am very ignorant about Bitcoin.
     
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  19. Make America Great Again Lady Errorgender: ⚧ Arcane Literally Hitler

    Lady Error
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    It's a cryptocurrency, meaning it's encrypted and even the best supercomputers can't hack it. What can be hacked are the exchanges, but that's sort of like a bank getting robbed and has nothing to do with the currency itself.
     
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  20. Make America Great Again torogender: ⚧ Arcane

    toro
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    https://en.bitcoin.it/wiki/SHA-256

    It's funny that the hashing algo was designed by NSA :)
     
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  21. Make America Great Again DragoFireheartgender: ⚧ all caps, rainbow colors, SOMETHING.

    DragoFireheart
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    Right, so the exchanges can get hacked but that's not a new concept.

    The super computers of today can't crack it but what about in the future? As far as I see it it's only a matter of time before someone does crack the encryption. I refuse to believe it can't even be cracked.

    But for the sake of argument lets say someone did crack Bitcoin. What would happen?
     
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  22. Make America Great Again torogender: ⚧ Arcane

    toro
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    https://www.reddit.com/r/Bitcoin/comments/2h213n/what_happens_if_one_finds_that_sha256_is/

    https://www.reddit.com/r/Bitcoin/comments/3gj5oa/what_if_sha256_is_cracked/

    TLDR: You will have to use a unique address for each transaction in order to avoid your private key being exposed. The network would not go down.

    PS: SHA-256 is extensively used in the banking sector. They would be as much or not more fucked than Bitcoin (cause in most cases their protocols are less secure than Bitcoin).
     
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  23. Make America Great Again DragoFireheartgender: ⚧ all caps, rainbow colors, SOMETHING.

    DragoFireheart
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    So not only would bitcoin be impacted, but traditional banking would be impacted as well, correct?

    That actually instills some faith and I may consider buying some at some point.
     
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  24. Make America Great Again torogender: ⚧ Arcane

    toro
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    Pretty much yes. If SHA-256 and ECDSA algos are broken then the entire Internet will be impacted.

    Also it's not trivial but once that happens then it is expected that the security model is upgraded to SHA-512 or another algo.

    Anyway, the risks to Bitcoin come from within: starting with 2014 the Bitcoin's development was taken over and subverted by Blockstream - a corporate entity funded by banks.

    It sounds like bad joke but it's not. The biggest investor in Blockstream is AXA insurance giant managed by Henri de Castries who is the chairman of Bilderberg Group since 2012.

    https://steemit.com/bitcoin/@adamba...nd-segwit-as-the-saying-goes-follow-the-money

    These guys managed to banish all the original developers (which worked with Satoshi Nakamoto) and meanwhile they managed to stall Bitcoin's technical development for the last 3 years.

    You can read more on reddit:
    https://www.reddit.com/r/btc/comments/42nx74/unmasking_the_blockstream_business_plan/
    https://www.reddit.com/r/btc/comments/68mb8t/bitcoin_is_under_attack_by_blockstream/
    https://www.reddit.com/r/btc/comments/5u72va/axablockstream_are_suppressing_bitcoin_price_at/

    Their agenda is to implement side-chains for fast transactions therefore centralizing the network in a couple of hubs which can be controlled.

    TLDR: Bitcoin is a unscalable mess on purpose.

    On the original blockchain there are 200k+ unconfirmed transactions (https://blockchain.info/unconfirmed-transactions) and confirmation time can take up to 1 week because of network congestion.

    People are paying premium fees (25$+) to have their transactions confirmed which pretty much defies the point of the original vision: to create digital cash.

    The two things above indicate one thing: Bitcoin's real value is close to zero. The price is pumped by banks, exchanges and dumb money. Sooner or later a 50%+ correction is expected.

    The solution proposed by Adam Back (CEO of Blockstream) is to use "tabs":


    On the other hand, there is a Bitcoin fork called Bitcoin Cash which proved that the network originally designed by Satoshi can scale on-chain without side-chains or "tabs".

    The situation is hilarious and villainesque at the same time. It's like a silent war which unfolds in the Internet's background.
     
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  25. Make America Great Again Lady Errorgender: ⚧ Arcane Literally Hitler

    Lady Error
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    Bitcoin still has the brand and the name recognition, so maybe it can act as a sort of reserve currency while other coins like Litecoin or Dash are used for fast and cheap transactions. I don't think that Bitcoin is going to die any time soon. And BCash ist not much better since it's controlled by a few whales and some big miners, who've been manipulating the shit out of it.

    I mean, if it's about true decentralization, then hardly any crypto really lives up to it yet. Maybe Vertcoin or Monero. Ethereum and Litecoin are basically controlled by one guy, Dash has an oligarchy of super-expensive masternodes who keep getting bigger, IOTA is still an alpha with a central server, etc.
     
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