|
1
|
Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
|
on: June 10, 2017, 06:43:17 PM
|
Dash is not even remotely competitive. It is simply and purely a scam to steal money from the foolish and ignorant. The market cap of dash is an illusion created by temporarily removing most of the supply into masternodes which monitor all the transactions and insure that 90% of the network traffic goes through NSA controlled routers. When the scam bubble pops all of those masternodes will get liquidated in a huge rush to the exits, crushing all the innocent holders.
Foolish they may be, but I don't think the holders are so innocent. DASH is best understood as a novel transparent Ponzi scheme. Duffield used to openly talked about crunching supply for the sake of raising the price so it's hardly a nefarious secret. Even today their marketing consists of creepy infomercial-like presentations designed to reel in new users. But the key is that those users go in consciously hoping to pull off the same on future buyers. According to your definition also bitcoin can be considered as a ponzi scheme. Basically anything that is valuable is with limited supply. Basically Putin's watches can be considered as a ponzi scheme https://www.bloomberg.com/news/articles/2017-06-06/putins-patek-philippe-5208p-grand-complication-for-auctionNo, it's not about limited supply or about selling higher than one bought it for. Ponzis promise payout (but rely on reeling in new investors because they do not possess a real business generating cash flow). Bitcoin has no payout; it's just a commodity and does not pretend to be more than that. DASH's value proposition is predicated on paying out interest to special nodes. |
|
|
|
|
2
|
Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
|
on: June 10, 2017, 05:42:29 PM
|
Dash is not even remotely competitive. It is simply and purely a scam to steal money from the foolish and ignorant. The market cap of dash is an illusion created by temporarily removing most of the supply into masternodes which monitor all the transactions and insure that 90% of the network traffic goes through NSA controlled routers. When the scam bubble pops all of those masternodes will get liquidated in a huge rush to the exits, crushing all the innocent holders.
Foolish they may be, but I don't think the holders are so innocent. DASH is best understood as a novel transparent Ponzi scheme. Duffield used to openly talked about crunching supply for the sake of raising the price so it's hardly a nefarious secret. Even today their marketing consists of creepy infomercial-like presentations designed to reel in new users. But the key is that those users go in consciously hoping to pull off the same on future buyers. |
|
|
|
|
3
|
Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
|
on: August 31, 2016, 10:03:19 PM
|
I just flipped some coins out at 85 before it jumped up again never to go back.
I think I understand better the way people went with bitcoins. Its all lessons.
Component of my USD-equivalent gains from trading over 2 years: ~1.7x Component from doing absolutely nothing: ~30x If I'd missed even one of the sudden steep rises that constitute that 30x, it would easily wipe out more than the entirety of that 1.7x. Just don't even log in to the exchange.  |
|
|
|
|
7
|
Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
|
on: August 26, 2016, 05:03:23 AM
|
XMR went from $25M to close to roughly $60M market cap on a DNM announcement.
FCT has Department of Homeland Security and a Wall Street firm amongst their clients.
There's a mismatch with the demographic of crypto here and many investors put their idealism before money. The US government and Wall Street are easily in the top 5 of what most crypto people despise and for this reason it'll take some time to reach price discovery. The kind of revenue US government and Wall street can generate stomps any shady DNM.
I like Monero though and hold some but the two should definitely reach parity again at some point.
The DHS awarded Factom $199K and the Wall Street firm in question is a Florida-based startup with $500K in seed funding. Sure we can abstract away and add gravitas by calling it 'US government' and 'Wall Street', but the details matter. After all, Monero's rise was due to the largest DNM adopting it, not merely any DNM. |
|
|
|
|
8
|
Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
|
on: August 21, 2016, 03:28:35 AM
|
It looks to me like there will be a replacement as the development progress has slowed to a crawl. Not to mention Diffie-Hellman elliptic Curve25519 is considered not safe. I no longer trust the constants. I believe the NSA has manipulated them through their relationships with industry
— Bruce Schneier Should I continue? This is exactly backwards. Schneier was referring to the constants of the NIST curves. Curve25519 is not a NIST curve, which is precisely why it's been very popular among cryptographers in recent years. |
|
|
|
|
11
|
Economy / Speculation / Re: That is it. Bitcoin is totally unpredictable. This market is fake.
|
on: November 17, 2015, 08:21:19 PM
|
Bitcoin is also open to manipulation, sure. But the manipulation is open to every one For many established securities and traditional investments only the banks and other big players can manipulate it. Bitcoin offers manipulation to the masses haha . Bitcoin is extremely illiquid compared to any respectable stock, but it's still too liquid for 99% of holders to move the price without mass action. Manipulation is only accessible to a small number. |
|
|
|
|
15
|
Alternate cryptocurrencies / Altcoin Discussion / Re: Vitalik writes Dear John letter to the Ethereum community...
|
on: October 02, 2015, 12:45:28 AM
|
So any speculations about ETH future?
Will they pull their exit scam soon? What will happen? I need answers *grab popcorn*
To fund their 340,000 CHF monthly budget for the next 12 months they will be massively selling ETH. That is one way things are headed. what are they doing with 340,000 CHF MONTHLY? that amount is insane... Mistake #1: locating yourself in the world's most expensive country. |
|
|
|
|
16
|
Other / Politics & Society / Re: Microaggressions, "triggers," and the coddling of the american mind
|
on: August 28, 2015, 03:28:48 AM
|
|
My observation is that being a victim is a highly desirable status in American academia. It's a form of street cred since the humanities (and to a lesser degree some of the social sciences) abandoned scholarship and became centered around victims and victimhood in recent decades.
Unfortunately, most people have a tough time accessing victim status due to being privileged their entire life (they are in American colleges after all, which cost $10k+ per year). This newfound sensitivity and claims of being offended by everything are their small attempts to access the coveted victim status.
|
|
|
|
|
18
|
Bitcoin / Bitcoin Discussion / Re: Bitcoin is Forking
|
on: August 16, 2015, 05:25:51 AM
|
Bitcoin has already been forked. That's where Litecoin, etc. came from. When you fork Bitcoin's existing economic majority, that by definition creates an alternative economic consensus (regardless of UXTO inheritance and blockchain). I'm not sure why discussion of this particular new alt isn't in its proper forum here: https://bitcointalk.org/index.php?topic=1115016.0Yep, just an alt, like the 500+ other alts. If anything, inheriting the BTC blockchain and its unspent balances dooms an alt. After all, there are loads of people with coins who have the ability to dump (due to their BTC balances porting over) and incentive to dump (because it's a competing chain, but mostly just for immediate profit). |
|
|
|
|
19
|
Bitcoin / Bitcoin Discussion / Re: Bitcoin is the undisputed global public ledger, but we need a private one too.
|
on: August 05, 2015, 04:53:45 AM
|
I don't think we can have it both ways. Transactions need to be logged and public for obvious reasons, but if people want to be anon and protect themselves fully then that is up to them.
Logged for what obvious reasons? To track criminals? That's an entirely orthogonal issue. To ensure the integrity of the system? That can be accomplished with math (ring signatures and ZKPs) without revealing the transactions. |
|
|
|
|
20
|
Bitcoin / Bitcoin Discussion / Re: lol: blockchain - yes; bitcoin - no
|
on: August 05, 2015, 04:46:17 AM
|
where exactly are the ridiculous amounts of money being spent? a bank can implement their own blockchain by deploying a server in each region. they can mine with the server CPU because it is not an arms race to get more hashing power. with this small Blockchain network they can store all customers transactions in a decentralized and secure fashion. Remember the 51% attack is based on a percent of hashing power, all bank nodes can mine on CPUs to secure the network like we once did.
I think too many people are fixated on the Bitcoin Blockchain as the solution for everything. For internal applications where there is no hashing power arms race, creating a new network is a perfectly good application of the technology.
The point of hashing and the blockchain is attaining distributed consensus in spite of being open to the whole world. If it's for "internal applications", there's no need for a blockchain. An ordinary database will do and, as a bonus, won't be open to transaction analysis and network attacks like Bitcoin is. |
|
|
|
|
Show Posts
