I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?
It's true. Bitcoin doesn't have the capability as it stands. It would need an extra layer (and extra transaction fees) to be able to do transactions with an adequate level of speed and frequency |
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Thats what is my point of view. If BTU will not be a BTC in volume and price, then why we are splitting the Two. People will keeping using the old established real bitcoin and will not accept the clone.
If BTU is better I would hope it succeed. I'm not even sure it is better tbh :| If it is and the miners are against it my guess is it will take a very long time for it to replace BTC. |
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It's really awesome to be optimistic about the thing you love, but you know!!! Things are not just a little bit, but too much different this time...
Seeing all these fights among the current Bitcoin mining groups is just making old as well as new investors lose their interest in it which is why they have been in such a hard panic, they ain't even taking pain to invest them in any other alts due to lost trust... I really hope and pray that we don't see a crash in the price just like we saw in 2013...
Serious governance issues are being raised with these forks and battles. Trust is indeed what's at stake here, it should be possible to discuss it and learn more about it without being censored. |
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Unlike you, I believe in Bitcoin. No matter what happens, I think it will recover and recover user trust. My investment in BTC is long term, expecting there wont be any problems would be very naive. So stop fooling yourself, people will talk speculate and do what ever they want to do. That shouldnt ruffle your feathers unless you one of those in this space for short-term gains.
+1 The next 5-10 years are what's interesting. Short term price fluctuations are just noise |
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My main question is what version of Bitcoin will be best after the hard fork: the miner version or the BIP141 version? I get the feeling a lot of people want to stay with the miners version to avoid rocking the boat even if that means a few miners having a stranglehold on the currency and possibly killing it in the long run. The BIP141 version sounds more interesting in that it aims to reduce the power of a few miners and their ability to set transaction fees as they wish. On the other hand the initial lack of miner adoption might kill it at birth. Is this correct? I'm finding it hard to get useful information on this. Too many oracles, not enough analysts  Edit to add: This thread seems to answer these questions but it's 69 pages long  https://bitcointalk.org/index.php?topic=1928093.80Re-edited to correct a major misunderstanding |
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if 2x is activated in time then 148 becomes irrelevant. they're both trying to do the same thing. 2x has the power behind it and on the surface the will at least. 148 won't be needed I think.
But the core group will implement it no matter what or at least it is it's stated intention is that correct? |
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With bitcoin there's the matter of a transaction tax having to be paid to a cartel of chinese miners for every transaction.
Unless bitcoin becomes virtually frictionless I doubt it will be able to compete with cash
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bitcoin is not dead. you know how i know it? because you have took this effort to make a topic here and post this crap in a desperate attempt to push the price lower.
Best reply Idk if anyone can confirm that two events are due to occur: - July 21st: Segwit2x, supported by chinese miners - August 1st: 'BTC unlimited' upgrade, supported by the developers 'Core' group Both of these could result in a fork although the first one is low risk. Could anyone confirm or deny this? Edit:spelling |
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I read your point about transaction spamming and don't have a reliable answer to that but I would expect that in a P2P context (reducing the need for infrastructure, billions of transactions daily would mean how many computers?) spammers would mostly hurt themselves (and for what purpose?). For token to fiat transactions and other peripheral services, providers would apply fees that should make spamming uneconomical (?)
I actually got an idea how to make 99.9% transactions free and keep transaction spam away that could ruin any network. Very high fees when the network reaches it limits, so that anybody planning a transaction-spam attack know, that each minute network downtime would cost them a fortune. Transaction spam attack is when you create lots of transactions and put on hold the transactions of all the other people. If you can achieve that you've hit home run I think  |
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Every currency has its ups and downs. Even fiat money loses 50%. That doesn't make Ethereum scam. There are really big companies investing on ETH.
I don't believe that to be true. Some companies are studying the ethereum protocol with a view to making their own tokens. The plan is to use their own, improved and no doubt proprietary, technology at some point in the future. None that I know has expressed any intention of being associated in any way with the ETH token. Edit:spelling |
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The transaction fee must be there. Even if the network can handle billions of daily transactions it would be spammed and die without the transaction fees.
The other thing is that transaction fees can appear when the network reaches the 20% of it's max capacity.
The people providing infrastructure for the network must earn money. It can be through emission or transaction fees.
For wide adoption emission and no fees is better.
The thing is I don't think transactions fees applied to transfers from one wallet to another would be acceptable to anyone, not with a token used as currency and not in an environment unlike the mania we are witnessing now. I read a statement from Vitalik Buterin stating, I paraphrase, "it's going to be a wonderful world, you'll have to pay for everything you do" . I hope for his sake he was being cynical and mocking instead of hopelessly self-delusional. I read your point about transaction spamming and don't have a reliable answer to that but I would expect that in a P2P context (reducing the need for infrastructure, billions of transactions daily would mean how many computers?) spammers would mostly hurt themselves (and for what purpose?). For token to fiat transactions and other peripheral services, providers would apply fees that should make spamming uneconomical (?) When the mania subsides, the question many will ask is "why would I pay Buterin for something in his 'wonderful world' that I already get for free with fiat in the real world". I don't think a currency that milks its users by charging for basic transactions could succeed. Sorry for being so negative. I don't find one right now, but I am planning to build one from scratch )
I genuinely hope you succeed |
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I think that current leaders will fall once the new one appears.
Not tomorrow, but within the next years.
Here is my top3 features a new leader should have.
1. High transaction volume scale from millions to billions.
2. Low transaction fees.
3. Real assets behind it, so everybody know it can't fall under certain level or it will buy itself back and stop the fall.
What would be your top picks?
1. I agree 2. No transaction fee is justified IMO. I don't pay someone to hand over a few dollar bills to a friend, if crypto requires fees then it's worse than fiat. Millions of computers form networks around these crypto tokens, that should be more than needed for any transaction processing on a P2P basis 3. No need for real assets IMO. Adoption and real world use, such as acceptance from a large number of real world merchants/vendors, would be enough as bitcoin proved 4. I'd add: no "I'll print myself a billion $' worth of the stuff just cuz" ICO type setup or the whole thing is exploitation by definition 5. A fixed quantity of tokens: one of the main attractions is the ability to escape from endless fiat devaluations Let me know if you find this, I can't wait  |
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For what it's worth I sold two thirds of what I was holding.
My objective is to make profits so I there is no reason for me to hold on to something I expect to fall in price. Planning for losses is not part of my book.
I'll decide what to do next after Aug 1st when things should become clearer.
Edit to add: borrowing money to invest in something as speculative as crypto has to be very unwise. I wouldn't do it.
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From google:
The Rothschild Family Foundation & China is launching the lcfhc (Love China Feng Huang Coin or Phoenix Coin in English) the FUTURE of cryptocurrency, ...
Hmmm...
Also from Google:
23 Jun 2017 - Rothschild & Co warns about unregulated fundraising scheme using various names, including LCF Coin, LCFHC.com, LCF Project and.
They claim to give $1000 free to each person who registers. I guess the old warning about free lunches still applies.
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Eth is going down & down!
I am so afraid
Can it grow up in this month?
any possibility?
From what I've seen, without bitcoin, pretty much all those altcoins have as much value as those neat little computer programs you can find for free on internet download sites. Some hold the possibility of future real world use but most likely they are precursors to other, future programs, that will have real world uses one day. Without bitcoin to act as a gateway, the best you can do with them now is swap one token for another and that's not much use The tokens give you no stake in the technology, no stake in the companies that created them, pretty much nothing from what I can see. Intrinsic value: as much as those free programs on the web and that is close to 0 An unlikely but possible scenario is that something dramatic happens to bitcoin in August in terms of confidence or credibility. If that happens (loss of bitcoin gateway + loss of credibility) it is conceivable that those existing altcoins will revert back to intrinsic value. Never mind their current market cap (ever heard of Enron, The Mississipi company, West India company, etc?) they can go to 0 no matter how big they are now. Staying fully "invested" in altcoins at this time is like doing acrobatics without a safety net. It's all very speculative so be mindful of people giving you any kind of assurances one way or another. Only one trick I know to makes this easier: sell a part of your holdings now, a third or half, and then buy it back later if the world didn't end At least you'll have a safety net and you will feel less anxious My two pence... |
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Jesus tap dancing christ !
usable ? For what ?
Are you high on fucking crack profiteers ?
What part of ETH the ICO rigged scammy launched poorly thought out useless gimmick me too shitcoin is good ?
In what parallel world is Ethereum legit in any way ?
It's a fucking train wreck of retarded bullshit in every single minuscule aspect imaginable.
And i have gone to great lengths to pin point and highlight every single fucking one of them over & over like a broken record for many years 24/7.
And all you chucklefucks do is post.. ya but Ethereum is good !
WHY ?
Because the price went up ?
Seriously ?
Is that your metric of success ?
This is historic next gen level of fucking stupidity right here.
I am witnessing the sickest level of absolute pure retarded fucking stupidity humanity has seen.
Look at the profiteer shitbird i quoted.
He's an idiot and a victim and he doesn't even know it.
Like all the others he rails on about how OTHERS are scammy but ohhhhh not his coin "Ethereum"
You are blind ass morons.
You are not listening.
You will get burned and i warned you.
So you deserve it then.. go fuck yourself if you want to be defiant scammy children.
Why should i be nice to aggressively stupid losers ?
You idiots believe your own lying sack of investard profiteer shitbird hype.
The *ONLY* reason Ethereum is popular is because a bunch of greedy scammy idiots flocked in pumping the price.
So in your retarded little heads that equates to uber mega success and the brightest future possible.
It means ETH will be worth 10k eventually and you will all be rich.
Problem..
ETH is popular because it was manipulated to be in the no. 2 coin position while a flock of greedy profiteers showed up pumping the price even more.
It has NOTHING to do what so ever with what the fucking thing is or how it works or how well it's adopted or how it functions.
It's pure raw hype and nothing more.
So what the fuck happens when the hype dies down kidiots ?
Read what i just quoted.. this brain dead blind investard is going to be sitting on his "bright future ICO coins" like a retard bag holder.
If ETH was a real stock it would be investigated and the people behind it thrown in jail.
It sure as hell would not be pumped up like some super ICO ponzi / pyramid token fer teh ROI's on teh profits coin centralized exchanger.
What part of the piece of shit "coin" is good ?
- Security ?
- Innovation ?
- Fair Launch ?
- Quality Dev's ?
- Concept ?
Like what ?
Seriously i challenge *ANY* of you dumb fucking rejects out there to pick *ANY* aspect of it and i will tear your ass down to the bone !
- Security ?
..heard of the DAO ?
- Innovation ?
..the app's gimmick failed.
- Fair Launch ?
..it's an ICO so it's scammy and worse it was an exceptionally rigged crooked one.
- Quality Dev's ?
..yeah fork it !
- Concept ?
It was a me-too-coin money making idea that was a stupid gimmick.
Reality Check:
You investards are stupid little victims.
And i get to have the last laugh when i eventually watch you fumble over yourselves to dump on each other.
I called it to the exact day with Doge coin when it was ranked as no. 2 in crypto.
And i will do it again !
You douche nozzles would proclaim the pet-rock or Tickle Me Elmo or Furby or Cabbage Patch Kids toys would be the "Future"
..after Xmas was over they were in the fucking dumpster idiots.
Your are not smart.
You are not investars.
These are not companies.
These are not penny stocks.
This shit is not legit / legal.
You are bafoons bumbling around bumping into each other being manipulated.
Whales own crypto.
They are your puppet master.
You will do their bidding and pay them your money when they ask for it.
How many times over the years have i said the best way to scam a douche is to put some money is his hand first ?
It's a shame really. It sounds like you have interesting things to say. But because of your anger and lack of manners your credibility goes to zero. |
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Banks were never going to use the ripple currency they were always only interested in the blockchain. Using a speculative asset for transactions makes zero sense to a risk averse bank. The reality is that ripple is a speculative asset and has no real use other than minimal amounts to prevent spam attacks on the network.
Apologies if this is a newbie question but isn't Ethereum very similar to ripple? Ethereum is the technology/network adopted by some banks and corporations but Ether, the currency, is not? |
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