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81
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Alternate cryptocurrencies / Altcoin Discussion / Re: Thoughts on Zcash?
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on: April 26, 2018, 09:30:44 PM
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I still have to do my research on it. But my first impression was skepticism when I read it will require several people with a "trusted setup"
Also 20% of each block going to the dev team by default seems a bit centralized. I wonder why they didn't do the ethereum setup of ico for dev team then regular mining
This 20% reward is totally insane, I believe that long term this coins will be eclipsed by forked projects like ZEN, HUSH or even ZERO. |
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90
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Bitcoin / Bitcoin Discussion / Re: Buy a can of Coca-Cola for 500$ - it's cheap
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on: April 19, 2018, 11:39:10 PM
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The funny thing is that if Coca Cola would be sold for 2000$ a can, then it would really be cheap to buy it for 500$. The value and the price of something are determined just by the people who are interested in trading that something. Whatever they believe the price should be, when there is consensus, that becomes the actual price.
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91
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Bitcoin / Bitcoin Discussion / Re: What will happen if two mining company unites
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on: April 19, 2018, 11:36:09 PM
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Imagine two mining giants and manufacturers, for example Bitmain and Bitfury decided to unite. What will happen? If their hashrate become more than 50% of total hashrate and decided to hang on others opinion, what will happen?
Satoshi addressed this scenario on page 4 of the bitcoin whitepaper: "If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth." This is my same line of thought. These mining companies are so unbelievably rich just because they "own" Bitcoin, but in the very moment they would play dirty with it they would kill their Goose That Lays the Golden Eggs. |
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95
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Bitcoin / Bitcoin Discussion / Re: Banks will use blockchain
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on: April 19, 2018, 11:26:14 PM
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Blockchain is just a tool, a technology, nothing "sacred" limited to Bitcoin and company. Since it is a good tool it is very likely that banks will adopt it, probably in a centralized way.
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96
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Other / Beginners & Help / Re: How To Convert Bitcoin To Hard Cash
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on: April 19, 2018, 11:23:19 PM
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Either you can use Localbitcoins and meet someone to exchange bitcoins with cash or you can change on an exchange like Coinbase or Kraken and have the money wired to your bank - if that is something that you can do in your country.
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97
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Economy / Speculation / Re: Bitcoin to the Moon
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on: April 19, 2018, 11:21:29 PM
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I really cannot cope with the fact that there is still someone who would start here a thread with the title "Bitcoin to the Moon"...
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98
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Bitcoin / Bitcoin Discussion / Re: Cryptocurrency kills people
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on: April 19, 2018, 11:13:54 PM
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This is one of the most idiotic statements that I have heard about Bitcoin. Could I reply to Bill Gates I would reveal him that in fact it is Microsoft which kills people, since so many terrorists prepare their plans on computers running Microsoft Windows. Moreover, a lot of politicians who declare wars prepare their plans on computers running Microsoft Windows. And let's not forget that the big cartels of narcotic drugs also are very likely to use computers running Microsoft Windows for dealing with their criminal projects which end up with the death of millions.
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100
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Bitcoin / Bitcoin Discussion / Re: Party's over. Go get a job, you lazy animals...
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on: April 19, 2018, 11:05:56 PM
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Strange times we live in. Crypto speculation, YouTube views, paid content. Yet no real contribution to the human evolution. A good professional is getting harder and harder to find. This generation is full of fucks who pose on YouTube, unboxing shit, and earning 100k dollars per month. Or "great economists" who are betting on a zero-value digital coin. This is insane. Go get a fuckin job, get a degree, go invent and participate in a project that has real benefits for our technological evolution. You are chasing ghosts and the next generations will have you impaled as the idiots of human history whose only occupation was to gamble and make selfies in moronic view-hungry vlogs on the internet.
So yes, hold your currencies like your life depends on it. Shallow and boring.
BTC < 8k USD. The measure of our generation...
Difficult to say you are wrong - in fact this is true. But then, most of the jobs in the West are totally useless anyway, especially in the public administration sector. We just live in a different world where the rules are getting more and more surreal. |
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