• it can only support a deflationary monetary system, no inflationary ones and so is useless as a trading currency • it has no native fungibility maintenance • governance is by contention only, which has already lead to forks in the community as well as the chain itself • it's one of the most centralised assets in the financial universe with 98% of the supply being held by less than 0.1% of the world population • it's slow at confirmation (a good thing IMO, but if you're trying to top up your credit card when the shop's closing in 10 minutes, forget it) • the Lightning network will not fix this as it only works for off-chain transactions plus... thisI'd better stop there for now cos my "koolaid" tank seems to keep topping itself up and I might get a bit sick  Your criticisms are all the strengths of the current fiat digital monetary system. Enjoy, you have it today. |
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And then Congress will make a law against road pirates, who are using Comcast’s private roads without permission. And we can all run a campaign on road neutrality and no one will listen
A good illustration why power of the state is not good. I can’t argue with that. Also have learned something today which is that libertarians basically just want to be left alone. I had some sympathy for that even if I don’t agree with some of the outcomes. So I apologize! This would then imply that all non-Libertarians want to constantly be fucked with by the state? You can't belong in both camps simultaneously. You can't have it both ways. It's not to say that Libertarians want total anarchy. It's just that it's crystal clear the state has gone WAY past providing basic civil services at this point. And keeps on going beyond it decade after decade, eroding one's freedoms and liberties more and more and more. Until eventually none are left. No one seems to care though, in fact the majority fkn embrace and welcome it. |
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Ok, next valid use case of blockchain with ROI...
*crickets*
Public real estate register? Security events accounting? business accounting? ROI? With real quantifiable numbers? You're just throwing out pie-meet-sky stuff, with no ROI to back it up. Same as the conference speaking "blockchain disrupters" with no evidence to support. |
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We could use the blockchain for fraud-proof voting. One digital token per voter, an address to send it to for each party, everything public.
Again, Theory vs. Reality. Reality:1. The corrupt establishment would never adopt it, because it limits how they can skew/cheat elections 2. Even if they did allow it, the voting blockchain you would get is not the voting blockchain you would want. It would be centralized, controlled, non-transparent, and have backdoors (i.e., corruptable by the establishment once again). Ok, next valid use case of blockchain with ROI... *crickets* |
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I was humbled by the how. Still not entirely sure about the why. But with so many people trying to blockchain all the things, something is bound to stick and be useful
I'm not sure I will ever agree on this. It's more like irrational exuberance for a piece of tech that nobody understands being trivialized into a buzzword for marketing purposes only. The fact that even after years have passed by and people are still struggling to find a proper ROI use case for it outside of Bitcoin only underscores that. Watch how irrational I make your statement just by replacing "blockchain" with a blunt but true definition/reality: "But with so many people trying to blockchain slow database all the things, something is bound to stick and be useful" And how it ever became a verb I will never know. "Do you even blockchain bro?" Nonsensical. |
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You are absolutely full of shit, Torque. The only BCH I got pre-fork is in equal quantity to my BTC holdings, due to the impending fork.
And that's my point. Unlike those hapless brainwashed BCash cultists that actually have to buy BCash directly post-fork (i.e., now and forever forward in time), you haven't bought any directly with hard-earned fiat. You acquired all of yours for "free". So you really don't have any skin in the game. Neither do Roger Ver, CSW, McAfee, Peter R., or any of the other BCash cult leaders. They received all their BCash for free too. When the whole project goes tits up they won't care. In fact they've all probably quietly traded their BCash for more BTC. I did convert quite a bit of my BTC to BCH after the fork. At a cost basis of about 17:1. It was a vote of confidence in what I see as BCH's superior monetary characteristics.
Will I be vindicated in the end? Jury is still out.
But I'm winning so far. Perhaps that's what's really bugging you.
You're not winning anything, because your shitcoin is merely being wash-traded back and forth by a few whale miners on a few exchanges. No one is buying any of that shit. No one is using it for e-commerce, it has barely any transaction movement at all. There is no merchant adoption. It's a DOA shitcoin. |
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The 4 orange letters seem to spell BICH
yeap another 2000 points (so far) bull run on BitCH/BTC pair. Congrats to jbreher. Thanks, I appreciate the sentiment. Though I didn't have anything to do with it. Other than to hodl, that is. The only reason you're smug and patting yourself on the back about BCash is that you got in pre-fork and thus didn't have to shell out a dime for it. Same with Roger Ver, CSW, Mcafee, Peter R., and all the other BCash shills. They all got their BCash for free, and so that's why they shill hard for it. They know damn well that they wouldn't buy any significant amount of that shitcoin on the open market if they had to spend real fiat for it. And when it crashes into the shitter one day, no skin off their backs. The only people who will get burned are the brainwashed BCash cultists who paid real money for that garbage. |
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So go on, burn some oil. Do your part to improve the world.
Bbut... but.. my next car will be all electric. My next house will have 10Kwh solar panels, with charging station. All my tools will be rechargeable. The only gas I will burn will be in my fun antique cars that see little use except for weekends. EROI of oil is slowly dying. Mass adoption of all electric vehicles will help kill it. |
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U.S. treasury yield curve has flattened to lowest spread in a decade. On track to invert within 6 months. Usually market crash and recession follow 12 months after that.
Will history repeat?
What do you all think that Bitcoin will do in such an event? Epic rise or epic crash?
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CryptoKitties - the literal reincarnation of the Bean Babies investing bubble, just in digital form and sped up 100X faster ... which is even worse. History repeats. <sigh> |
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Am I doing this WO thing right?   |
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How does an Average Joe not 'go long' on something that he's being told is a digital currency to be bought and used as such? Or as a deflationary asset to be held? Was there ever a time not to 'be long' Bitcoin? These type of articles are inane. It's like telling Average Joe "Go long/short on the rental property you just bought. Go long/short on the Gold you just bought." |
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Random thought that popped into my head while browsing the typical MSM pop garbage...  |
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Bitcoin == Gold 2.0
BCash == fool's gold 0.fail
Everyone should know the difference by now
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The answer is to skill up in skills needed by the automation software industry. If you cant beat them, join them.
But what happens when AI starts writing the software on their own, and better than a human could? I’m not really talking about coding. Coding is only 5% of the available work. You need people to find use cases and deploy the software (which takes a long time). You need sales. You need support. You need people who can navigate the SEC rules on ICOs. You need Infosec. You need all the infrastructure that goes around an ordinary company whether it is making widgets or building AI. Devs are only one small piece (important for sure but a great business can survive with shitty tech but a shitty business with great tech won’t). Software is eating the world but only one bite at a time and it takes awhile to digest. You know what else you need? You need real world problems to solve, real world use cases, and real ROI on those use cases to make all of it worthwhile. Notice how the Blockchain industry has already conveniently skipped over that ROI part and gone straight forward with the hype and marketing bullshit? Seen any real believable ROI analysis on that yet? Of course you haven't. I haven't either. That's all by design. There's money to be made by marketing and selling bleeding-edge futuristic hype solutions looking for problems that don't really exist. They (IBM et al) did the same thing with "Business Analytics". Every company that bought into it has pretty much lost money on BA pilots and implementations. Same with AI deployments. IBM Watson has been the biggest money loser for corporations that have drunk the IBM koolaid and spent millions on their software and their 'consultancy' experts. The only winners are the consultancy bodies like IBM that market and sell the snake oil dream to ill-informed and unsuspecting corporations with deep pockets. |
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The answer is to skill up in skills needed by the automation software industry. If you cant beat them, join them.
But what happens when AI starts writing the software on their own, and better than a human could? |
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I never understood the argument against automation. Why would anyone want a paid job if there are tools that can take care of it? Are people really so desperately helpless that they won't be able to lead a happy life without some superior telling them what to do with 70% of their wake time?
You also seem to forget the fact that production costs slowly but surely converge towards zero. And since money is unlikely to disappear even in a world of virtual abundance you won't see masses of people being broke and homeless, because they would otherwise riot and go to war against those that have.
There will either be a UBI (which could be pulled off today since fiat is a joke anyways and merely an illusion given the levels of production going on nowadays as opposed to the old times of hyperinflation and scarcity), or people will be "paid" for their data.
UBI would lead to a complete Socialistic global society, where governments would increase personal income taxes to first 60%, then 70%, then 80% to 'pay' for it. And they would increasing tell/regulate you how you can spend your remaining money. And they will tell you where you can and can't live. That is not a life. Corporations would be zombie corps and industries run by AI and androids, and human involvement would be minimized to merely the Executive Elites. Hyperinflation would inevitably ensue worldwide. Humans would eventually die off from having their souls crushed. |
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