cAPSLOCK
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Whimsical Pants
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October 22, 2021, 03:22:55 PM |
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Ethereum is much like the stonk market:
It'll always get pumped, even though it is complete dog shit.
The biggest scam in crypto history (next to XRP).
One of the major differences between Bitcoin and Ethereum’s economics is that the latter is not deflationary, i.e. its total supply is not limited. I don't think many of the people who buy Eth know this. It is claimed by the (centralised) "founders" they have this inflation for "security" reasons. To me it sounds just like the need for inflation in a fiat currency: some reason that doesn't make sense. Bitcoin already shows you don't need inflation because of "security". Currently: avg Eth fee: $31.4. avg BTC fee: $4.17 Makes no sense to chase ETH when we all know BTC is the store of wealth and not even the ETH scammers claim that their chain is that. Their letting fools think that perhaps but I've never heard them say it is that. If there is such a need for smart contracts, ie if my fridge needs to automatically order eggs and milk from a supermarket computer and pay the robot delivery then it would cost $63 before anything is delivered. Nonsense carry on. XRP is probably a bigger scam but I am starting to think Cardano is similar also. Just a bunch of dudes trying to make their own Bitcoin / blockchain / copy for whatever reason they can sell it and fleeing when they get found out. See also Charlie Lee with Litecoin and Roger Ver & whatever other assholes were involved with Bitcoin cash. The thing that is so annoying to me is that the logic is so simple as to why Ethereum is a bad idea. Smart contracts? Yes this is a VERY interesting idea. And the lightning network is built on them, for example. But not only do they not NEED to be run on a blockchain beyond the most simple ones, it actually does not make sense for them to be. All the security aspects of a smart contract can be rooted on a blockchain via efficient hashes. You do not need a "world computer" using one of the least efficient storage systems ever developed by humankind. Ethereum BREAKS one of the two things blockchain is important for. Decentralization. Any blockchain used for indiscriminate data storage is destined to centralize and become a digital version of the Federal Reserve/IMF/WEF/IBS machine that currently enslaves the world. Only if we get this digital version it will make what we have now look fair. I do not think Ethereum would centralize to a single authority. But it would collapse to a small number of very powerful members of a group. It would need the kind of infrastructure that only countries and huge corporations (think Amazon, Google) could create and maintain. So we just end up with a new system that works just like the old one. The members of that "fedaration" could meet and set policy as they see fit. And then the obvious question. Why on earth waste all this time and money running a blockchain when they can just do it with a good old shared database? There is no reason. And poof the reason for Ethereum to exist in the first place disappears into a puff of logic. The central banks seem to have already figured this out. They are not going to waste time trying to make something decentralized for their CDBCs. Why would they? It would not benefit them. Now i imagine they might use the NAME "blockchain". But... Bitcoin truly is humankind's best chance of destroying this eras system of mass enslavement. Ethereum (and all the other centralizing "blockchains") is more than a scam to enrich it's founders. It is a direct attack on the freedom of humanity. And that is not an exaggeration.
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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bitcoinPsycho
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Activity: 2464
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$120000 in 2024 Confirmed
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October 22, 2021, 03:27:51 PM |
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bitcoinPsycho
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$120000 in 2024 Confirmed
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October 22, 2021, 03:36:11 PM |
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Could be a little too early for this. Might as well be optimistic. Now is the time
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bitcoinPsycho
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$120000 in 2024 Confirmed
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October 22, 2021, 03:59:12 PM |
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WO abandoned. Only me and Chartbuddy left
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 22, 2021, 04:01:25 PM |
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El duderino_
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BTC + Crossfit, living life.
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October 22, 2021, 04:11:43 PM |
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WO abandoned. Only me and Chartbuddy left
I’m always around somewhere
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eddie13
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BTC or BUST
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October 22, 2021, 04:15:03 PM |
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Observing
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El duderino_
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BTC + Crossfit, living life.
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October 22, 2021, 04:17:33 PM Merited by JayJuanGee (1) |
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heslo
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October 22, 2021, 04:27:57 PM |
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I sent some dirty fiat to my exchange but it still hasn't cleared... really upsetting because this dip looks tasty to buy. Granted it's only $1000 or so but hey every little bit is nice to add to my stack.
Off topic: USGP this weekend in Austin, dunno if you're an F1 fan bob, but if you are and you're going, enjoy! Hoping to get there next year if international travel permits. Was all set to go for 2020 with everything booked but we all know what happened there.
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cygan
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Crypto Swap Exchange
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October 22, 2021, 04:36:51 PM |
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BobLawblaw
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Neighborhood Shenanigans Dispenser
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October 22, 2021, 04:41:26 PM |
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Observing
Puttering around... somewhere... Stuff and things... you know... regular "normal" activities...
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goldkingcoiner
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Verified Bitcoin Hodler
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October 22, 2021, 04:45:39 PM |
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WO abandoned. Only me and Chartbuddy left
Im here too....
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vapourminer
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what is this "brake pedal" you speak of?
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October 22, 2021, 04:57:58 PM |
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WO abandoned. Only me and Chartbuddy left
ZZZZZzzz zzzzzz zzuhhh, wut? im more or less here. at least thats what im told
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 22, 2021, 05:01:25 PM |
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Torque
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October 22, 2021, 05:02:57 PM Last edit: October 22, 2021, 05:22:58 PM by Torque |
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My greatest wish in life is that when she dies, there are numerous parades worldwide.... ...not to honor her life, but to celebrate her death. Joyfully singing "Yay, the wicked witch is dead!" Fuck that wealthy elitist bitch.
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Torque
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October 22, 2021, 05:09:33 PM Last edit: October 22, 2021, 05:23:48 PM by Torque |
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True stack what you can Average Joes don't have the money to buy a 400 oz bar of gold, but they still buy fractional gold to this very day. They don't say "Well if I can't buy a whole 400 oz bar, or a kilo bar, then I no longer want gold." This cognitive dissonance wrt bitcoin blows my mind. Why do people need constant reminding that buying fractional btc is ok? We are truly living in Idiocracy clown world.
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Torque
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October 22, 2021, 05:22:05 PM Last edit: October 22, 2021, 05:35:17 PM by Torque |
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I do not think Ethereum would centralize to a single authority. But it would collapse to a small number of very powerful members of a group. It would need the kind of infrastructure that only countries and huge corporations (think Amazon, Google) could create and maintain. So we just end up with a new system that works just like the old one. The members of that "fedaration" could meet and set policy as they see fit.
And then the obvious question. Why on earth waste all this time and money running a blockchain when they can just do it with a good old shared database? There is no reason.
And poof the reason for Ethereum to exist in the first place disappears into a puff of logic.
The central banks seem to have already figured this out. They are not going to waste time trying to make something decentralized for their CDBCs. Why would they? It would not benefit them. Now i imagine they might use the NAME "blockchain". But...
Exactly. Also, they could simply say they released their CBDCs on a blockchain, whether it was current fork, or some other homegrown blockchain. But they simply use the old system already in place behind the scenes, tried and tested, and citizens would not be able to verify that either way. It's all digital and hidden to the end user. Absolutely nothing would be different and nothing would change.
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BitcoinBunny
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Activity: 1456
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October 22, 2021, 05:27:01 PM |
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My greatest wish in life is that when she dies, there are numerous parades worldwide.... ...not to honor her life, but to celebrate her death. Joyfully singing "Yay, the wicked witch is dead!" Fuck that wealthy elitist bitch. Too bad she doesn't make movies with Alec Baldwin.
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savetherainforest
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October 22, 2021, 05:29:13 PM |
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WO abandoned. Only me and Chartbuddy left
I have nothing to trigger with about, anyone or anything for now. Not even the usual spammers don't seem to have the endurance to keep banging that cann down the road.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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October 22, 2021, 05:38:15 PM Last edit: October 22, 2021, 05:50:15 PM by JayJuanGee Merited by BitcoinBunny (2) |
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Fuck crypto... What is that? Exactly what you read…. There are plenty of people invested in shitty coins as well… Those are having bad feelings and cannot not check the price bc the uncertainty of those “crypto’s”… Not relevant, here. Fuck shitcoins, and discussion of such topic in this thread.. especially if you are trying to suggest that there is some kind of thing that is even close to equivalent to BTC.. which it is not and it is a slippery slope to get into such nonsense thinking (and framing of what is supposedly important).. Might have to pour one out for you dude.... especially if you do not snap out of it..... quickly.. hahahahahaha Thanks for that B_Bunny... I listened to it. I had seen/heard quite a few Saylor interviews, and it seems to me that Saylor has adjusted some of his ways of discussing and describing his company.. you can see this around minute 40-45.. when he responding to the ETF/ETP questions, and is possibly based on some legal counsel that he received... it's good.. and a better way of describing his company... Another point earlier in the video.. is that Saylor pretty much described (and reiterated) his mindset transformation to becoming favorable to bitcoin in March 2020. He pretty much asserted that he was hostile to bitcoin prior to March 2020, and his opinion would have to invest zero into bitcoin as of February 2020 because he did not consider it to have any meaningful value - and so it becomes interesting about how strong Saylor's mindset transformation was, and then once he decided to get into bitcoin, he became more and more and more convicted to the whole idea (and follow up with actions).. He has described his increasing and increasing conviction about bitcoin in several ways and so it is not a bad theme to not only show how he got in, but also so that other people might be able to relate to potentially going through some kind of similar transformation. I don't have any problem, really, with anything that he says, and surely he does reiterate his level of aggressiveness in such a way that individuals might end up misunderstanding in terms of being able to go through periods of volatility (especially in times when bitcoin has negative volatility). Normies do not actually have to use leverage in order to get richie from bitcoin (and potentially richie as fuck) without even employing leverage.. and of course, if you are able to manage leverage, it is a more sophisticated strategy in which you can surely get rich faster than normal and you can also get poor from an asset (such as bitcoin) in which you would have been able to make lot of money but you employed leverage badly (or bad luck)..... Remember https://twitter.com/muststopmurad?lang=en ? He was one of the BIGGEST of bitcoin bulls, but neither he, nor his investment company (focusing on bitcoin bullishness) really did not fair well in the March 2020.. crashening.... he pretty much fucked himself and his investors.. because of leverage (I believe leverage longs got liquidated) and haven't really heard much from him since March 2020.. though I had not heard about him scamming anyone - even though he just ended up using leverage badly. In other words.. take an almost inevitable to be winning investment/asset (such as bitcoin) and convert it into a losing asset.. with leverage... or poor uses of leverage..
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