Because now the coins are owned by a few geeks, wait until it spreads out into the mainstream, where people will own less coins (regardless of the price, they might own more wealth, but own less coins / capita since 1 coins would be more valuable) , then people would not care about doing it, or just forget about it, and then the security could be compromized.


Yes and that 10% inflation affects everybody including the miners, so the effect cancels out. If they mint 10% /year then the price of bitcoin relative to other currencies also drops by 10%, so the effect cancels out. Yet this doesnt affect anybody, except investors.

Actually for bitcoin to succeed the inflation has to go down in order for wallstreet to be interested in it, that's the whole point of the deflationary currency.

Yes i know so whats your point?

You guys confuse definitions, saying fascist is not what it is. There are fascist elements now in big corporations becuase they work together with government, that is what fascism means.

On the other hand here is another group of equality: feminist, social justice, all sorts of equality bullcrap, and they are very leftists, hardcore socialists.

So basically in current society we see a battle between big corporations (fascists) and leftist equality agitators (socialists), whom battle for their own agendas.

I`m not an expert on technical issues but i saw many vulnerabilities.

The most obvious that i can think of is a structural problem. There is no incentive for miners to "mint" or as it is called, because the reward is significantly lower.

While in bitcoin, when the coins will be miner, the miners will then profit from transaction fees which would rise and lower depending on their greed.

In the POS enviroment they will have to leave the minting on thus only the ones with the highest market share can profitably mint, so most of them wont mint it.

See if the POS coin get's distributed evenly then the market will collapse, because if everyone would own almost equal amount of it then since the reward would be so little nobody would mint.

On the other hand in the POW anybody can join the mining game redardless of them owning any bitcoins, they are not required to own anything except mining equipment.

I think this problem will cause many POS coins to be destroyed.

I dont know what you are talking about here, but if you are referring to my quickwallet software's "wallet.dat" then you are mistaken. That wallet.dat contains absolutely no private key. It's just a collection of bitcoin addresses encrypted to ensure privacy, but it has absolutely nothing to do with actualy "wallet.wallet" files like the Bitcoin Core or Armory uses.

Otherwise who would be stupid enough to keep 1BTC if a wallet.wallet file in his infected online pc that is a major target to all kinds of viruses from faucet sites and malware?

It just doesnt seem logical to me.

If you think like that then you are a gambler and know nothing of investments. It's never the "all in" guys that win, in fact most of them always lose.

It's obvious now that you know nothing about responsible trading/investment AND risk-control. I`ve traded a couple of years forex, and i saw guys losing there 100.000 dollars in minutes because they could not control their emotions, just like in a casino.

How many guys you see walking out of a casino with a smiling face? It's really misleading if you see 1 guy winning 50.000$ because he gambled it. So what? You never see the other 100 guys telling you how much they lose.

It's a false paradigm like the lottery. You see 1 guy winning millions of $, but you never see the many other million of guys losing every single bet for their entire life....

Then you dont study economics, you just study the propaganda that the keynesian henchmen tell you.

Interest rates could fluctuate based on market supply and demand for loans, but the problem is that the central bank keeps them artificially low to serve their speculative agendas.

Basically they take all the depositors money and gamble it in the derivative markets. And we know how a gambling session ends, and when they lose they either loot the entire collateral, the depositors money, or they use the tax payers money if that's not enough, or they loot both.

And as the leverage piles up more and more, the odds of default is getting higher and higher, so their winning streak is starting to fade away.

There are 2 outcomes that could happen:
x  1) They default on the loan , which means billionaires will lose alot of money in their bond investments (they wont let this happen though)
✓ 2) They will print alot of money to keep the bubbles growing (stock market,housing, derivatives and oil) causing hyperinflation, and stall the collapse as long as possible (of course at the end they will still lose all as the entire economy collapses)

So yes, embrace yourselves guys, your taxes and supermarket prices will go up significantly in the next years

Then there is nobody left to rob from and it will immediately collapse. The whole point of the current ongoing european QE is to rob a wealthy country and then give that money into loan to : Portugal,Spain,Greece,Italy,Cyprus and other socialist countries who can then give it to lazy fat TV-watcher welfare dumbasses.

Jobless rate is going higher and higher even with the stimulus that they are so proud of that it works, no it doesnt, it will go up until eventually the hard working people will be taxed 99.99% and the lazy welfare leftists will enjoy free meal and other free stuff.

Unless the government breaks into your house and steals all the gold from you.. or if you store it in a vault they will loot it just like with private pensions, bank accounts and such (seen in Cyprus ,Greece and post 1929 USA)

History will repeat itself and as much as i like shiny gold, i think it's not a viable storage of wealth in the crazy society we live in today.

I do have a little farmland, which i inherited though.

I don't have enough saved to do property trading ,also i definitely dont like the real estate market it's too inflated, it will come down as the bubble will pop or they will inflate it wih more QE until hyperinflation kicks in, either way, if i invest in it now, then i`ll lose it all.

It's in savings because i havent found a better investment: gold is going down, and even when it starts to rise again it wont make a significant ROI %.

So the only investment that i can think of that will survive, and not just, but thrive and prosper in the collapse is crypto currencies.

Now i might construct a crypto portfolion, i wont put it all in bitcoin, but i`ll definitely wont buy Greek or Japan bonds lol.

TROLL ALERT!

The eurozone is made up by countries that are full of debt and 1-2 export countries that facilitate the debt for them.

Portugal,Spain,Italy,Greece,Malta,Cyprus,and are almost near a debt crisis. While a few of them stand good like Finland ,Germany and to some extent France.

So the solution to this is to hyperinflate the euro so that those indebted countries can pay their debt later. See it's always free stuff now, and pay later, like all socialist dumbasses are doing right now.

Because of this only 2 possible outcomes could exist:
1) Germany gets tired of those lazy socialist countries and kicks them out of the EU or they'' leave on their own once they see that they wont get cheap euro
2) Germany will play along, hyperinflating the euro (because let's be honest Greece will never pay it's debt) causing pre WWII. hyperinflation, 1929 style financial depression

I think option 2 is more likely. So put your seatbelts on because prices will skyrocket in the near future (2-5 years)

Who would use those, when they pay alot less.

It's better if you have a list of those that pays hourly and have like 120 of them, it takes 30 seconds to complete one so by the time you go to the end of the list, the cooldown of the first faucet is already done, so you can start again.

If the 60 min faucets pay 1000-2000 satoshi, then you can earn 180.000 satoshi/hour.

If the 10 min faucet pays like 500 satoshi then you can earn only 3000 satoshi/hour.

A bit of difference there

Yep i also have deposits in 2 different banks, and the interest rate was lowered since i reached adulthood (18) and now i`m (28) from 15% to 2.5% so i could have became rich from my deposits that my parents put in there when i was a child to save some money for me, and the second one i put from my own income and hard work.

Too bad, bad luck for me, the globalist maffia had other plans for my deposits, they just want to loot it. And now as the interest rate drops and drop and drops, the inflation , the official one is less than 1%, but rest assured it's about 3% as i calculated it, they probably lie about the official rate anyway.

So at the moment i`m losing 0.5% yearly on my deposits, so as bitcoin will become more stable, i`ll empty my bank account and put it all in bitcoin.

I`m getting tired of their fractional ponzi scheme inflating my saving away, and i wont waint until the government thugs come and freeze my account when the "bank run" happens.

Just pray that the global ponzi scheme lasts 1 more year until bitcoin stabilizes then i`ll cut ties totally with the fiat garbage system.

When we got alternatives in our nice bitcoin community, why should we use the fiat garbage that these thieves shove down our throats anyway? 

You are wrong guys, social justice or social equality is not fascist, it's socialist !!

All these equality dumbasses and the stupid herd that follows them, they are all leftists. Social justice by definition is socialist, a fascist justice would be one where the big corporations would decide policies through the approval of the government, but these lefist equality groups are all leftists!

So you can correct the title of the thread, they are leftists!

Accountable to it, are you serious, when did you (in the history of mankind) saw a bankster being prosecuted for running the global ponzi scheme called the fractional reserve banking system?

Also so what if they are accountable to the parlament, so who is the parlament accoutable to? Nobody.

It's an elite maffia ruling class ruling above us all.

Russia?

Man i start to like the BRICS more and more, your banking system is so much better then. Also the financial responsibility is much higher there, and the gold backing etc etc.

Maybe its because of my resentment of the western financial system that bought be into bitcoin but, still this doesnt mean that the eastern banking system is perfect, far from it.

See the western system is just totally rotten, no doubt about it, but i still think that the Bitcoin is a much more efficient one than the BRICS payment system aswell, since its costlesness. Now the great would be if the mainstream system would merge with Bitcoin and provide interconnected services.

I would like a bank to have a service where you could buy and sell bitcoins directly from my checking account, until I see that i`ll remain skeptical.

Once the banking system decides to implement that, then i`ll regain my respect for them, until then, i`ll be watching it developing.

I own ~3 BTC bought none, i earned them and sold a few stuff

Wow i didnt know about those, thanks. Are you a computer scientist?

Also this doesnt solve the problem it only makes it more imperative. Since the same way as you install the bitcoin core or armory into the offline PC you can also put the virus there on the first install.

Also if you then decide to put an antivirus on the offline pc then you can also slip the virus in together with the antivirus..

So it seems to me there is no 100% security out there. What do you think?



Yea but i`m not talking about 0.01BTC either, i`m talking about 10.000 posibbly 100.000BTC to be managed. When you own that amount of funds then you have to pay additionally for increased security.


It could not be intentional though, many softwares can be infected unintentionally though. That's why i scanned my own softwares that i made with 4 different antiviruses to make sure nothing slipped inside it. Even if i made the code 100%, there could be the possibility that a malicious resource file copies itself into the assembly.

No but you can bribe many of the big stakeholders to sell it to you anonymously and then you can use the network maliciously.

When the exchanges have enough volume to contain 51% of the coins, then just a well placed buy order simultaneously on all exchanges could do the trick.

It would not be profitable, but a government could do it only for the purpose of disrupting the coin.


https://en.bitcoin.it/wiki/Proof_of_Stake

You find many of it there.

Where do you live man, it souds like a paradise?

You must be one of the 0.0000001% exeptions that give some validity to the current banking system.

I`m sure though most of us have to wait 4 days to transfer, pay a  20€ fee + 3%, have shitty customer service at the bank and also credit cards charge alot too +2~3% and also they audit you if you send many 10€ transactions because you become suspect of money laudering  .

So it's good to be in the minority but the majority has definitely other experiences with the current banking system

Yes for now it only supports bitcoin addresses. Later i might consider adding more coins to it like litecoin and such.

Also i have another app if you want to keep track of the bitcoin value or statisics, you might wanna check this out then:

https://www.btcdlc.com/shop/bitcoin-supermarket/bitcoinstats