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Author Topic: Hacks & puppets & forks - how to destroy bitcoin  (Read 3128 times)
Sled
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October 06, 2017, 02:32:24 PM
 #41

The reputation of bitcoin is getting destroyed slowly because of the forks that has been launching for bitcoin and it seems that it doesn't affect the performance at all because i believe that the reason for having forks are to improve the quality of the coin and to make major improvements that everyone would feel after the launch of fork but right now it is just like making forks that will completely just for money and not improvements.

Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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October 06, 2017, 03:36:41 PM
 #42

To fork a lot of discussion about what is happening in order to reduce the time of transactions and reduce their cost. This did not happen. We see banal fight for the money. Nobody cares about reputation. This is very bad. bitcoin loses its primary purpose and became an instrument for speculation. This may make bitcoin bubble. We are going to blame for it. Each of us had something to do with their efforts.

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centralbanksequalsbombs
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October 07, 2017, 05:00:39 AM
 #43

To fork a lot of discussion about what is happening in order to reduce the time of transactions and reduce their cost. This did not happen. We see banal fight for the money. Nobody cares about reputation. This is very bad. bitcoin loses its primary purpose and became an instrument for speculation. This may make bitcoin bubble. We are going to blame for it. Each of us had something to do with their efforts.

Bitcoin has the highest value because of its reputation - if there was no reputation there would be no value.

If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
If it was exactly like fiat and only did transactions, there would be no value.

Bitcoin has all these together and has the most value and increasing more than anything else coming from the fiat central-banking debt-system.

Though it is still very early adoption by the world population (most people everywhere don't know what it is)...
Bitcoin (the King) has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

And it has become clear that...
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.


Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates. Central banks will never have such domination of Bitcoin.

Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.


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October 08, 2017, 02:08:45 AM
 #44

Reply if you find the post useful, share your thoughts.

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October 08, 2017, 10:04:20 PM
 #45

Amazing to see global trade growth on localbitcoins as well (scroll down to see all the individual countries:
https://coin.dance/volume/localbitcoins

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October 12, 2017, 01:35:01 PM
 #46

Effective, True savings vehicle: Bitcoin

centralbanksequalsbombs
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October 13, 2017, 05:32:52 AM
 #47

Amazing to see global trade growth on localbitcoins as well (scroll down to see all the individual countries:
https://coin.dance/volume/localbitcoins


Bitcoin's market cap is currently sitting above $90 Billion.

All the country's central banks and governments have become powerless to stop bitcoin (even despite all big banks for four years training tellers to stop if they hear "bitcoin" to block those transactions ever since 2013 - when will they learn their attempts are futile?)

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October 13, 2017, 05:08:23 PM
 #48

Effective, True savings vehicle: Bitcoin
Saving bitcoin is the best way of making the bitcoin of their future and the upcoming days the worth of the bitcoin is increasing more and more. The importance of the bitcoin is getting high so it’s good to make it sure that the bitcoin will be powerfuland it will give you more profit in the future. The value will be high if you will invest and you will buy the high amount of the bitcoin. The importance of the bitcoin will be more than this.

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October 14, 2017, 07:19:52 AM
 #49

Effective, True savings vehicle: Bitcoin
Bitcoin is the most profitable and strong coin of this era and currently it is impossible to destroy such a valuable coin so those who are thinking to harm it will surely waste their time and bitcoin is now not be effected by rumors because investors are now aware of hatter that they spread this to give loss to bitcoin so no one will do panic selling everyone will join hand to face such situation.

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October 14, 2017, 08:07:06 AM
 #50

Those anti bitcoin are only destroying btc because they did not get a hold of it when it was still very cheap. The bitterness is very present and I know that if only they are holding a huge amount of it, they will be like anyone else who ain't getting tired of making predictions to promote btc.
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October 23, 2017, 01:45:17 AM
 #51

Those anti bitcoin are only destroying btc because they did not get a hold of it when it was still very cheap. The bitterness is very present and I know that if only they are holding a huge amount of it, they will be like anyone else who ain't getting tired of making predictions to promote btc.

They are ultimately destroying their own wealth.

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October 25, 2017, 04:25:29 AM
 #52

Effective, True savings vehicle: Bitcoin
Bitcoin is the most profitable and strong coin of this era and currently it is impossible to destroy such a valuable coin so those who are thinking to harm it will surely waste their time and bitcoin is now not be effected by rumors because investors are now aware of hatter that they spread this to give loss to bitcoin so no one will do panic selling everyone will join hand to face such situation.


Thank you for posting...your writing is a bit confusing, but I think I might understand what you are saying? Bitcoin has become a bit less volatile as the years go on but please be aware of the ever present big drawdown risk.

For example, currently, part of the selling pressure is online brokerages in the USA are now starting to cut off US investor access to the Swedish Nasdaq Nordic listed Bitcoin ETN fund - suddenly alot of US traders can't have any buy orders on that product.

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November 02, 2017, 06:15:47 AM
 #53

The reputation of bitcoin is getting destroyed slowly because of the forks that has been launching for bitcoin and it seems that it doesn't affect the performance at all because i believe that the reason for having forks are to improve the quality of the coin and to make major improvements that everyone would feel after the launch of fork but right now it is just like making forks that will completely just for money and not improvements.

Or is it the reputation of Bitcoin is getting stronger with the passage of time?

Amongst the fields of a plethora of forks from Bitcoin and thousands of cryptocurrencies to compete with Bitcoin....Bitcoin has always remained the king.
Maintained for many years even as hundreds of other cryptos fade away. Right?

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November 04, 2017, 05:55:18 PM
 #54

There are some great educational merits in this post that I hope are helpful to those new or learning. If so, please reply here.

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November 08, 2017, 04:36:13 AM
 #55

Bitcoin has withstood many numerous forks and have outlasted, outclassed, and outnumbered any of these competing altcoins. I'll bet it'll be same story for future forks.

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November 21, 2017, 04:59:55 AM
 #56

Effective, True savings vehicle: Bitcoin
Bitcoin is the most profitable and strong coin of this era and currently it is impossible to destroy such a valuable coin so those who are thinking to harm it will surely waste their time and bitcoin is now not be effected by rumors because investors are now aware of hatter that they spread this to give loss to bitcoin so no one will do panic selling everyone will join hand to face such situation.

Your comment has reigned true and prophetic with most everything htat's been rumored about bitcoin all throughout 2017!

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November 30, 2017, 07:27:07 AM
 #57

Bumping for newbies as we now have a market cap easily exceeding $160 Billion for Bitcoin. There's interesting resources on the OP.

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November 30, 2017, 09:48:11 AM
 #58

i also believe forks will Destroy bitcoin in future especially BCH  .

but price will destroy bitcoin more than hacks
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December 03, 2017, 12:31:54 AM
 #59

i also believe forks will Destroy bitcoin in future especially BCH  .

but price will destroy bitcoin more than hacks

BCH is no threat to bitcoin as it has multiple centralized points of failure [central development team that can make coin worthless if they go away, AND also more centralized mining AND has more centralized protocol with larger block-size which requires more capital investment to mine (only the richer)] - easy to point out scamcoin.

Bitcoin is the king of store of value asset that can be easily moved across borders without any intermediary/3rd party that unlike gold, stocks, bonds, real estate, is largely free from any central bank led price manipulation.

Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?:
If it can be shutdown, and have assets frozen by a bank or government, there would be no value
If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin").
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
If its development wasn't decentralized around the world, there would be no value
If there was central "leaders" or foundation for the coin, there would be no value
If it was exactly like fiat and only did transactions, there would be no value.

Bitcoin has all the characteristics needed combined to make the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system.

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December 03, 2017, 12:49:47 AM
 #60

Honest, TL:DR.

But the fork is not new news. If the fork is about providing bigger pipes to enable bigger transactions, what's the problem?

Everyone agains the fork feels like people that would rather continuing riding horses when the car was invented.

What am I missing?

Good word, i like your opinion.  You are not missing anything.
If fork make bitcoin and blockchain even better why not? Why people like bitcoin but dont like bitcoin would be better?
Confusing.

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