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1  Bitcoin / Bitcoin Discussion / Re: 51% Attack on: June 07, 2021, 03:41:49 AM
If you want to attack the Bitcoin system, you must first control 51% of the miners. This sounds difficult to achieve, but it is not actually the case. Miners want to join larger mining pools to protect their own profits, which leads to the continuous expansion of the capacity of each mining pool. In fact, the three mining pools of Ethereum can already reach 51% of the computing power. That is to say, in the future, it is completely possible for a mining farm to control more than 51% of the computing power. This also means that you want to attack. A person in the Bitcoin system only needs to control a mine to achieve his goal.
2  Bitcoin / Bitcoin Discussion / Re: Fiat and Bitcoin - The Two Brothers on: June 05, 2021, 09:18:03 AM
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While the former growth is slow and steady, the later is rapid in growth and can aswell reverse its growth rapidly.

Fiat is not designed to grow in value. Rather it looses value due to inflation. It's purchasing power decreases over time.

I think you have some misunderstandings. Fiat currencies have indeed depreciated due to inflation, but this does not mean that the purchasing power of fiat currencies has decreased. Because while prices are rising, people's income levels are also rising. And many people say that the rate of price increase is far greater than the rate of increase of income, but this is not the case. In the days of my parents, they wanted to buy a TV and needed to save money for months or even years, but now if I want to buy a TV, I only need to pay half of my salary.
3  Bitcoin / Bitcoin Discussion / Re: Can BTC become the world central currency? on: June 03, 2021, 09:30:37 AM
I think this is impossible. If Bitcoin is used instead of fiat currency and becomes the only deflation, natural deflation cannot be controlled. It is impossible to overcome the barriers. Trying to confuse the public with such expressions as "Bitcoin can be subdivided infinitely" and "Deflation is better than inflation". It's useless, you will understand if you patiently read books on economics or money and banking.
4  Economy / Speculation / Re: If the current Bitcoin suddenly becomes a bubble overnight and never recovers on: May 31, 2021, 06:13:50 AM
Nothing will happen. The attribute of investment is that there are gains and losses. High returns must be accompanied by high risks. Bitcoin is a string of digital codes, which has no value in itself. Its value is given to it by its believers. As more and more people believe in its value, its price will become higher and higher. It is like a famous painting. The paper and ink itself is not worth much. The value is given to it by people. Painters, painting styles, allusions, etc., are all factors that make a painting valuable. Similarly, the more people appreciate it, the higher its value.
5  Bitcoin / Bitcoin Discussion / Re: Why crypto (bitcoin) is better than traditional money? on: May 28, 2021, 08:38:09 AM
Compared with traditional currencies, Bitcoin certainly has a greater advantage. First of all, the possibility of Bitcoin's inflation is extremely low. The government holds the sole right to issue traditional currencies, which is directly related to whether the currency depreciates or not. The total amount of Bitcoin is constant, only 21 million, which avoids the possibility of excessive currency issuance, and the decentralized storage and transaction model greatly weakens the government's control. Secondly, the security performance of Bitcoin is good. From the perspective of security, ordinary banknotes are anonymous, that is, the identity of the owner cannot be identified by the banknotes, and it may be stolen at any time in the pocket, and there is a risk of the bank being stolen. Bitcoin is a cryptocurrency stored on a decentralized blockchain. When a transaction occurs, it needs to pass through two levels of public key and private key, and it must wait until each node records the transaction in its own ledger. After that, the transaction is considered complete. At the same time, the design of Bitcoin based on cryptography allows the owner to enjoy 100% control. Unless the owner's resources disclose the private key, neither the bank nor the government can transfer these assets.
6  Bitcoin / Bitcoin Discussion / Re: Is Blockchain a Good Career? on: May 28, 2021, 03:36:36 AM
The market has plummeted recently. Many people are worried about whether Bitcoin will return to zero and whether the blockchain industry will return to zero. This is typical nonsense. The blockchain technology industry is still at an early stage, the relevant regulatory regulations are not perfect, the mainstream investment institutions' recognition of the industry is not enough, and the risks are high, etc. These are the problems currently facing the blockchain industry. But this is the path that an industry must take to develop. What really hinders us is not these objective obstacles, but our own perceptions. Our cognition is the fundamental factor that determines the development of the industry.
7  Bitcoin / Bitcoin Discussion / Re: I sometimes wonder whether Bitcoin has established a religion. on: May 26, 2021, 07:29:17 AM
I don't think that believing in Bitcoin is the same as believing in religion. Many people who have Bitcoin in their hands claim that they believe in Bitcoin. But I believe that more than 90% of the people here simply use Bitcoin as an investment method. When people enter the crypto world, they have heard too many stories of getting rich overnight, so they expect such things to happen to them one day. But when they didn't get rich overnight, but went bankrupt, this belief disappeared. I think the true faith is to be able to endure loneliness. People will not be intimidated by some darkness, but can see the light of the future through the darkness in front of them.
8  Other / Off-topic / Re: What was your weirdest present? on: April 02, 2021, 06:58:20 AM
After college, my boyfriend and I began a long-distance relationship. When leaving home, he gave me a pillow of more than one meter and said that if I miss him, hug it
Once the lights were turned off at 11 o'clock in the evening, the pillow suddenly lit up in my arms, like a moon, and I called him to ask him. He said that he also has one, and when two people hold them together, they will be emotionally glowing with each other. If it lights up, it means I miss you too.
9  Other / Off-topic / Re: What’s the most disgusting food you’ve eaten ? on: April 01, 2021, 03:56:13 AM
The most disgusting food I have ever eaten is raw eggs. My friend heard that eating raw eggs is good for the body some time ago, so he recommended me to try it. I swear this is definitely the most disgusting food. It has a sticky texture, and I feel my throat is going to be stuck. It smells very fishy, and I vomited after the first bite.
10  Other / Off-topic / Re: What habit are you most fortunate to develop? on: March 30, 2021, 03:30:01 AM
I am very fortunate that I have developed the habit of reading. Because of the habit I developed since I was young, even now, I still like to read paper books, even if everyone around me is reading e-books. The eyes of all my friends are nearsighted, and I am the only one with normal vision, which makes me very happy. Reading can really change a person's temperament, and people often praise me for my refined temperament. And reading can really broaden your horizons. After a long time, you will find that you will think much deeper than others when dealing with the same thing.
11  Other / Off-topic / Re: What is your favourite sport and why? on: March 29, 2021, 06:40:13 AM
My favorite sport is playing basketball. I think basketball is an interesting sport, it will give me a sense of accomplishment. Basketball is a kind of companionship to me. When I was a child, basketball was like a toy that didn't get tired of playing. When I grew up, I found that there were more and more ways to play basketball, and basketball brought more and more rewards. It gave me many memories.
12  Other / Off-topic / Re: Best book on: March 26, 2021, 06:52:35 AM
The best book I have ever read is The Catcher in the Rye. This novel tells me that no matter how long a person lives, there should be an innocent side in his heart. This novel also tells me never to compromise with what you once hated. No matter where we are and how old we are, we must always maintain a young heart. This is the best thing in life.
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