The underlying message of this "meme" is bullshit.

And to top it off, it's not even funny.

I don't care about institutional money, our whole business is cutting out these rent-seeking, monopoly forming useless institutions.

In fact I hope they never get to buy one cent of bitcoin before mass adoption.

I want them left out to the extent that their purchase power is so low, that they never enter the market and slowly die away.


Edit:

Ironically the biggest joke on the buttcoin subreddit are the posters themselves.

Their last project is trying to make a nocoiner coin to make fun of cryptocurrency.

Their entire intellectual capacity is not enough to launch an altcoin. These people never understood computer code. They are all pseudo intellectuals and their arguments are usually not worth as much as a copper plated zinc penny that is covered in dog turds inside a dirty sewer grate.

Error 404, Jesus not found

Why do so many people believe in fairy tales? Even if I went stark raving mad I doubt I'd believe in such bullshit.

You have to examine whether all this profesizing is just a way for you to feel important in a world that is simply random.

Watch this video https://www.youtube.com/watch?v=X05Wn1ZAlfE and learn from it.



And if you're so sure you're right, and you think that belief (the amount of certainty you have) is a good argument, than how about all the other people who are so sure that Zeus wants to have sex with them and those who think they will get reincarnated and those who wear magic underwear.

We can't all be right.

You don't believe in thousands of Gods.

I just don't believe in thousands plus one.

This is an interesting question, I doubt we'll find this thread in 10 years, but I surely hope so!


My prediction is that Bitcoin will still be likely around. I assume the price will be in the hundreds of thousands $100,000-$999,999
In nonfiat terms 1 Bitcoin will be enough money to buy a decent house.

Due to Bitcoin's first mover advantage it is unlikely that another crypto will take its place and be fit for the same purpose.

Due to the popping of another credit bubble in the US and the US dollar losing its status as the world's reserve currency, it will fall in value relative to everything else.

Due to blockhalving and more lost coins, bitcoin will be in significantly shorter supply.

if the lightning network succeeds, adoption could very well follow.



Unfortunatly markets are not rational so it is possible that a lesser, less fit crypto can ovetake bitcoin simply because of it being better adopted. It is also possible that a fairer coin comes out. Bitcoin failed to be distributed equally due to the unforeseen efficiencies that came from GPU and ASIC mining, a coin with a fairer distribution may have better adoption. However I only give the bad case scenario a 10% chance of happening.

That 10% is why I don't put all my money into Bitcoin, just an amount that I am willing to lose.

edit: fixed typos (july 28, 2018 2352EST)
edit2: added price in non-fiat terms (july 28, 2018 2358)

Both edits were done before another reply #4 was posted.

1. Is impossible due to people having to consolidate their inputs. Not all your bitcoin is (or should be) stored in a single private key and address pair. If you have 1 bitcoin and 10 private keys/ public addresses and you want to spend all of that, it's way more efficient, and easier to do 1 transaction using all these inputs than it is to do 10 different transactions which are going to get picked up and put into a block in different times.

2. This would make the supply of bitcoin variable. One of the core principles of bitcoin is to protect against central bank schemes/ monetary supply inflation. 2.b. This will not help decentralize mining, we're talking about orders of magnitude of time until you would get a single block. If now you got a single block in 1000 years, and it is reduced to 100 years, you'll still probably die blockless.

3. Again, no fixed supply of Bitcoin

4. Has already been discussed. I don't want to have to download store and validate 10 Terabytes every month on my computer.

As great as this would be, it would disincentivize consumerism. No company would ever support it. It can even be made friendly to the poor by giving them a tax number and the ability to spend tax exempt up to $5000-10000 in a year, thus paying a lesser total tax rate on the bare necessities.

I can't see a valid argument against that. The whole thing would be easier to calculate as well, we could burn about a library worth of tax code rules and pay billions less in tax preparation every year just in the US.

The ignore button seems like the most practical solution, however I'd prefer to filter the content and not the authors. And hell, I'd love to see through the eyes of the user with the biggest blocklist for a day.

Implementing my proposal would probably take forever, and it might even be a bad idea. Maybe I just have to learn to speed-read and cut my losses when a post seems to be garbage, skipping to the next post.

I'd like to read through threads in their entirety, however there are so many junk posts nowadays that I quit when I have to read more than a few pages.

It would be nice to have a rating system, and the ability to filter our the junkier posts by selecting the minimum rating of post to read.

Perhaps rating a post should be restricted to Full members and above and the right should be taken away to people with higher ranks that abuse it.


Say there is a post with 1000 replies.... Say the rating is 1-5 stars. I only want to read decent replies so I choose to only read 4-5 star replies.

Suddenly I only have to read 100-500 (numbers are made up) replies to be fully up to date.


Maybe we can also tag posts by kind of off topic and really relevant from 1-5.

Then I only want topics that are 4-5 stars relative....

Now I might have to read only 50-250 replies to get up to date. (Numbers are made up)

If we add a federal state tax and remove federal income tax, we at least wouldn't get taxed twice!  But it would probably hurt workers and poorer people at a greater rate (unless we give poor people cards that allow them not to pay the federal sales tax up to say $15,000 dollars a year.

A man in Africa using only a couple of dollars a week, but who owns his own farm, produces a surplus of food, and doesn't really need to even go to the market is much richer then a McDonalds worker, who is constantly on call for his job, uses $300 dollars a week, and has trouble keeping his head above water (financially)



To the untrained eye, the McDonalds worker out-earns the "third world" man 150 to 1 . But the third world man can work less hours, owns the products of his labor and can do as he pleases.

How are their fees?

This is an argument I didn't expect. It makes total sense in a world where all of our basic needs are met (through UBI or other means) but I don't think it makes sense in our world.

With the current financial system this would just siphon money from the working poor to the wealthy.

So far it has been endless hype and no answers from hashgraph.

I don't understand how it's supposed to be better than bitcoin's ledger, if you just "gossip" how do you have a complete knowledge of previous transactions?

If all the previous transactions get dumped, then you do not have true consensus.

If all the gossip is saved, then you have a ledger that grows at a rate that is impossible to keep up with, not matter the size of your HD (hard-drive).

I just don't get it.

I believe that income tax should be abolished.

I live in the US, and I don't think income tax is fair.


One of the reasons is that the median person will have to pay income tax and then a sales tax on food. Also you have to pay income tax and then property tax on your house.

Another reason is that from when income tax was established the tax brackets seem to have moved downwards. That is to say that poorer people have been getting progressively taxed more. It may help to start taxing people above a living wage of $35,000 but I know that's not going to happen.

(For reason number 2, I believe that the brackets have primarily moved down due to the hidden tax of inflation, which means that you get triply taxed the longer you hold your money)

What do you think?

There is no way you have more than 100K btc to sell at 0% above market.

If all the shitcoins were removed from that list, Bitcoin would be above 50% in dominance.

For example, ripple is not a cryptocurrency.
Bcash is btrash

Remove these coins from the list and bitcoin has over 50% dominance.

And in the long term these coins should die. And many, many more.

Just pay them in bitcoin!

If you're planning an ICO with your own coin and so on and so forth, this belongs to alternate cryptocurrencies and not Bitcoin > Project development.

Probably a good way to make some money on the backs of those who will be fomoing hard, but honestly I hope people stop making shitcoins with the thinnest veil of a shadow of an inkling of an excuse. (To get paid).

You're right about everything but don't spread FUD on howeycoins. I'm very bullish, on howeycoin, I just wired 1000 dollars to someone who can give me a 2 for 1 discount on howeycoin. That means I'm already getting 2000 dollars for my 1000. I'll quit my job and hope that howeycoin goes to the moon.


Good job, moon soon.

I think there are a lot of people here who understand why we need bitcoin.

I look forward to profiting from not having a bank dictate how and when and with what fees and to whom I can send my money to, or from whom I can receive money.

It's supposed to be a currency that holds it's value and doesn't inflate like the USD to an unpredictable supply. It's not supposed to be a risky company stock or a gamble.

Yes the potential for profit is there but it should never be the primary reason why we are in cryptocurrency. Once a crypto gets adopted I don't think we'll be seeing crazy bubbles and crazy price increases, and that's ok.

All I want is a currency I can hold on to without getting taxed 3-5% every year by the US government while getting nothing (through inflation).

That is profit enough. After the next blockhalving inflation in bitcoin will be under 2%. That is profit enough for me.


As for another coin surpassing bitcoin, that could be OK. As long as bitcoin helps me hedge against inflation I don't think this is a winner takes all kind of market.

Silver and Gold can exist together. So can bitcoin and litecoin. Although I do believe that alts are overvalued (even litecoin).

The price would increase and it could increase permanently if we were all to buy and hold.

However we could just all be patient and wait until the next blockhalving in 2020... Inflation (new bitcoins added through mining reward) will drop by half, to really low levels.

Once inflation drops, new bitcoin will become scarcer. Miners have to sell bitcoin to pay for electricity, therefore there will be less downward (sellling) pressure on the market.



Yes, buying and holding more is good but what would be better is if bitcoin succeeded on its own strength, not on an artificial pump.

The biggest reason I'm bullish on price is because in the next block-halving we're going to have less inflation than the USD.

11. Soon to have less inflation than fiat


Let me explain. I always think of and calculate inflation at about 3%.

This is a hidden tax. One of the things bitcoin is meant to hedge against is inflation. Current inflation is about 3.91% (More if you subtract the lost coins).


In less than 2 years, we will see the historic moment when bitcoin finally has low inflation. And in less than 6 years it will be half of that!