Because force is the only valid consensus mechanism.  Bitcoin is designed as a war game exercise that utilizes this "force as the only valid consensus mechanism" concept, but just like a real war game, there is a continuous consolidation of power as opponents are eliminated while new opponents are prevented from entering (adversarial mining, ASIC patents, foundry monopolies, etc) until you have a winner take all scenario or something close to it.  PoW was never a valid way to build anything decentralized and nobody has discovered anything to improve on it because it's not actually possible to create a decentralized cryptocurrency.  

The whole thing was basically a fraud from day one.  The only reason any establishment people (like Larry Summers and Ben Bernanke) promote this garbage is because they want to use it to indoctrinate the slaves (you) into willfully participating in their future cashless society slave grid run by...the same Jewish conmen (Pharisees) that people have had to kick out of different countries 200 times now.  The last thing they want are the slaves to break free from the plantation and get access to real wealth (physical metals).

Or maybe you should stop being a Judas and selling out the rest of humanity for a few shekels even though you know damn well nothing about cryptocurrency is going to be pro-freedom in the end.  The only endgame of craptocurrency will be federated chains run by govts and corporations (slave coins) because it's not actually possible to create a decentralized craptocurrency, only ones designed to centralize.  

Since both PoW and PoS are designed to centralize, this means none of these things have any fundamentals whatsoever.  Nothing with zero fundamentals can survive in the long term.  They will either just die on their own flat out from being centralized, or they will be centralized enough for the state to just walk up and take over and then turn them into federated chains from there through some type of G7 or EU commission.

LOL NO.

Bitcoin is NOTHING like physical metals.  Bitcoin does not remove counter party risk or middlemen.  It has built in rent seeking middlemen (transaction validators).  It is not a store of value either due to having a floating cost of production that can "float" downwards to $1 or zero just as easily as it can float upwards, unlike metals.  The cost of production of metals generally only goes up, which is why it doesn't even matter if people mined stuff in space (won't happen in your lifetime anyways); the cost of production would be orders of magnitude higher.

The government WANTS you to buy bitcoin and doesn't try to stop it at all (except Chinese capital flight), and instead tries to manipulate metals and prevent people from investing in those.  They do not want you to have access to real money or wealth.  They want the slaves only using imaginary currency or fiat.  It's not just noggers that are slaves.  All you fucking moron goyim are on the slave plantation now.  Only an idiot does what the government (aka Goldman Sachs & other evil jews) wants you to do.  I do the exact opposite of what the govt wants and only buy physical silver while dumping imaginary wealth (bitcoin) that can vaporize up into smoke at any second.

Lol, no.  If it's possible to create a centralized digital currency, there is no scientific law that states it's mandatory a decentralized one be possible.  This is not yin and yang.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

Hilarious, people are now deleting posts trying to cover up the truth and continuous fraud in this market:

It sounds like you need an inspirational song or something:

http://www.youtube.com/watch?v=MfTlJrZMg6Y

It will go down low enough to entice MatTheCat to come back (like $900).  Mat will then all-in.  It will then instantly go to $0.  Everyone reading this knows this is exactly what will happen.

Some people can't handle #realnews.


Or you can just avoid all the fucking idiot, control freak technocrats in govt + the bitcoin ecosystem and use physical silver instead, which is completely immune to moron technocrats.  Both fiat and bitcoin are designed to be run by central planners so that you get to be someone's bitch the rest of your life.

John McAfee in Bitcoin is kind of the same problem the alt-right has, a leaderless organization/movement to expel Jewish usury parasites off the backs of humanity.  Since there is no formal structure, a gay, Jewish guy named "Milo" just walks up and says "who's the leader around here?  nobody? ok, looks like I am.".

The game theory of a rough consensus attack is that you either dump both and walk away to cut risk entirely, or hold both if don't want to sell for whatever reason.

Both users and developers have ZERO control over anything.  The transaction validators in all craptocurrency are designed to centralize, and thus be controlled directly or indirectly by govt.  Govt is who controls craptocurrency in the endgame.  This is why I abandoned this garbage for silver instead. It's not possible to solve digital decentralization.

You should have been reading the conversations between me + Anonymint + Smooth + Fuserleer and others over the last 4 years in the altcoin section. None of this craptocurrency stuff has any value unless someone is actually able to solve the problem of decentralization, but it's not a solvable problem. All you can do is create a Rube Goldberg machine to obfuscate what your centralized system is doing.

Why are you trying to rewrite history?  Armstrong did not predict jack shit because he said gold was going under $1000.  It's cost of production is anywhere from $800 to $1500 or so for different manufacturers, with the average cost supposedly being around $1050-1100.  Silver is probably around $16-17 for cost of production.

While there is such thing as sunk cost fallacy, silver is far far less capable of being sold under cost of production due to having more industrial use and demand with not much above ground stock (it's been in deficit year after year).

For anyone who doubts the power of silver, it now requires moving twice as many tons of earth to generate 1 oz of silver as it did 10 years ago.  I've seen claims we only have 20 years of silver and 15 years of zinc mining left, which seemed pretty insane, but when you look at actual mining industry stats like this, you can clearly see the low hanging fruit appear to be entirely depleted and something big is going on.

And here's a question you'll never see cryptoshills like Sidhujag able to answer:

It is said the purpose of metals is a hedge against government.  Since the transaction validators of all cryptocurrency are designed to centralize, and thus inevitably be controlled by the govt directly or indirectly, just what the fuck is bitcoin supposed to be a hedge against?  It's sure as fuck not a hedge against government.

It's "the price is a fabricated scam controlled entirely by one single guy/entity on Bitfinex since it was $200" is what's next.

The replies from you peasants are always completely unable to address any issues I discuss at all.  It's always just "that can't be true! someone told me bitcoin was permissionless!".  It's only permissionless if it's not designed to centralize, but it's not possible to create a decentralized craptocurrency in the first place.

You're just repeating false Andreas Antonopolous pumper propaganda that isn't true.  You never actually "own" a bitcoin; there is nothing to own in the first place.  Your so called "coin" is just a virtual loaf of bread in cyberspace that's impossible for you to take custody of.

Bitcoin has permanent middlemen custodians and counter party risk in the form of transaction validators.  These are who actually own the coins because bitcoin is NOT a permissionless system.  The transactions are not blinded, they can pick and choose which to allow through.  Transaction validators are designed to centralize through economy of scale, which will then be run by either like 3 corporations or the govt itself.

Choosing to participate in bitcoin at all means you are signing up to be someone's bitch (inevitably the govt) in a permissioned system.  Metals are actual permissionless systems, bitcoin is NOT.  You're required to ask permission of a transaction validator anytime you want to move a bitcoin (which will be controlled by govt); you don't have to for metals.

Bitcoin is anti-freedom new world order garbage.

Why are you trying to promote a system of which the end evolution can only be federated chains run by govt and corporations to enslave people since it's not possible to solve decentralization of open loop systems?

You have made the critical error of pretending that just because a few pumpers kept bitcoin alive after it's initial pump and dump, that this somehow proves the viability of open loop so called "decentralized" systems.  The fact is, it's not decentralized; it's designed to centralize.  The only type of blockchain that is "proven" are federated chains, while to any non-idiot, it's obvious all the others are doomed to go extinct since nobody can solve decentralization (because it's not possible).

This is why I do not support anything blockchain related.  Why the fuck would I shill for the inevitable outcome of only federated chains surviving? Eventually the general public will figure out bitcoin, etherscam, and all the other trashcoins are distributed but not decentralized as well, then it goes up in smoke.