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Author Topic: Logical and mathematical truth of bitcoin  (Read 322 times)
dohh
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June 30, 2018, 05:46:23 AM
 #61

Is unfortunate you don't understand the principles in which bitcoin operate so you are concluding it to ponzi scheme. Bitcoin uses electricity to generate it as banks need a service to generate transactions.

Precisely. Bitcoin uses electricity, to generate itself. And for that electricity people are paid 2 times less after each halving. First people in, or scheme masters produced thousands or even more coins with their home PC, now people form groups and buy specialized hardware to do so.

Please note this: from activation 2009 until now, there was released 17 million coins, from now to 2040, mere 4 millions. more than 2 millions per year up to date and less than 0.2 millions per year from now on. If we looked it year by year, the difference would had been even more dramatic.

Whats that in Your opinion? Its a clear pyramid, where people pay with electricity instead of money and late joiners end in net loss.
https://www.marketwatch.com/story/heres-how-much-it-costs-to-mine-a-single-bitcoin-in-your-country-2018-03-06

As You see, in most countries people are running in loss already. Its over soon.
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July 06, 2018, 05:33:59 AM
 #62


Technology development is completely we can support.that want to be developed further, At that time goods and services are not extremely rare objects, but they exist. For example, electricity. You are paying for it, but you can not touch it.
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July 06, 2018, 04:16:51 PM
 #63

I cant appreciate with you because you need to learn more thing based on this topic its not scams if its then already people leave this coins so you should think about it and if you wants to sell then you need to check the other coins and its you matter you will sell or not.
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July 07, 2018, 08:17:10 PM
 #64

Yes, I totally disagree with you. Bitcoin is not a scam. Just wait and watch time will tell everything and i think the popularity is one of the proves.
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July 07, 2018, 08:26:49 PM
 #65

Well, private keys are never going to be cracked unless that there are some quantum computers, but i really doubt that it will happen in a near future, so for me, everything is more than good at the moment and there is nothing to be worried about
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July 08, 2018, 05:09:22 PM
 #66

a) it is limited to make sure it is worth something, just like gold or other valuable materials
b) just because it is decentralized does not mean it will remain volatile. Sooner or later it will come to a stop
c) because you cannot spend it twice like you can with traditional emoney
d) It sounds like you do not. It is not some kind of religion, it is just a technology
e) Many do, many don't. You have to understand how investments and projected profits work, especially in something that so many are interested in
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July 10, 2018, 06:53:08 AM
 #67

Those who want to believe in BTC at all cost, should avoid this topic.
To help some people, who started to think about the core concept of bitcoin, my judgement is:

1) The blockchain part or "mining" in case of BTC is a special kind of scam. For getting a coin You must invest into electricity and computing power. In return You get VERY little chance to be awarded with a coin. This chance is so small, it is mathematically ridiculous, but in practise. ZERO! Nada, ничтo, nichts... What kind of decent money is that, that everyone can apply by spending real money but only few of many millions are actually given by basis of pure luck?

2) The coin part of BTC is a monetary fraud. Although people make transactions voluntarely, they are cheated with the very core concept of BTC. While blockchaining may have some usage as a concept as well as cryptocurrency, it does still not mean that BTC is legit.

Before You attack my opion, try to give logical answer to these questions:

a) why is BTC quantity limited with 21 millions? What limits it?
b) what is the point of decentralised money, if its so volatile, that rate would drop 75% in 6 months (or grows by the same)? this is called a hyperinflation.
c) why is blockchain technology better in 99,99% of transactions, than regular private/public key technology?
d) do You really understand, what is private/public key crypto and blockchain in its core, or they just sound cool?
e) if BTC had at more or less decent chance to boom again, why dont all the richest investors in world buy it?

Maybe it wasnt planned so, but BTC is the most genious scam in the history.

Previous doesnt mean, You absolutely can not make any money in it. The same goes for ponzis and pyramids. If You go in or out right time, You will earn and at some cases earn well!
Well as for me bitcoin and every other crypto is just a mean of profit, I don’t care how it comes, I don’t mine bitcoin or any crypto, I don’t care about its limit being 21 million but until and unless it exists and I see profit in investing my money in it and getting back profit i don’t care about anything, Investor here so I don’t go much deeper about crypto, all I do is keep a market check analyse few things, buy at lows , sell at highs and enjoy the money.

Platio
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July 10, 2018, 08:18:49 AM
 #68

BTC is the most genious scam in the history.

yes you are correct. bitcoin is a scam so please sell the coins that you have so desperately been buying and leave us dumb people be in our scam in peace  Kiss
Well yeah if anyone thinks bitcoin is a scam they can eventually sell them and well to be honest i don’t really think bitcoin will have a limit till 21 million, to mine 21 millions of bitcoins it will take years even for multiple huge setups and when they do I guess there will be something to increase the limits, well for me till I see my profit I will keep on investing and getting back my money.

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July 10, 2018, 08:53:43 AM
 #69

BTC is the most genious scam in the history.

yes you are correct. bitcoin is a scam so please sell the coins that you have so desperately been buying and leave us dumb people be in our scam in peace  Kiss
Well yeah if anyone thinks bitcoin is a scam they can eventually sell them and well to be honest i don’t really think bitcoin will have a limit till 21 million, to mine 21 millions of bitcoins it will take years even for multiple huge setups and when they do I guess there will be something to increase the limits, well for me till I see my profit I will keep on investing and getting back my money.

That limit of 21 millions and its decreasing release rate is with a shape of pyramid. If BTC fails as product, only scheme will remain, where early enterers get huge reward, late miners mine for nothing, late buyers lose money.
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July 11, 2018, 07:31:04 AM
 #70

BTC is the most genious scam in the history.

yes you are correct. bitcoin is a scam so please sell the coins that you have so desperately been buying and leave us dumb people be in our scam in peace  Kiss

Obviously I dont have any, Im not stupid enough. I just want to help those people, who dont understand, that are scammed. I know few, that have "invested" instead of voluntary retirement plan, i just feel pity about them.
Well I have invested a lot too and I am getting huge profits too and until I am receiving my profits I don’t mind investing more to earn profits and not only in bitcoins I have invested in more cryptos and also encourage other investors to invest in cryptos and get their profits too, although to be honest I too don’t see a very bright future for cryptos but until I am making money I don’t mind.

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July 14, 2018, 02:10:48 AM
 #71

Having a bitcoin is less than 4 times the value, more than 6 months ago. People do not understand, that the core concept of bitcoin is zero. And now, that's ridiculous ... For me, investors are not interested because all they want is profit.
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July 15, 2018, 02:25:37 PM
 #72

Actually through the help of mathematics the experts can give a theory what will be the future of bitcoins,
from this they can easily make some predictsion and be prepared in some challenge that expected to be happend.

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July 16, 2018, 04:47:11 AM
 #73

yes, thats correct. viability of such ROIs in such period of time, is impossible.

$1 to $10,000 in 9 years has never been heard of.. Mostly likely money getting created from thin air.
The rates are to be honest determined by whales is just a false call, all that happens is simple supply and demand thing, just basic trade rules, when the supply is more than demand the rates fall and when the demand is more than supply the rates rise as high as it went to 20k issh dollars, then again the rates fell as because everyone was selling to get their profit. Although it has stabilised now and I am pretty sure it will rise again.

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July 16, 2018, 04:00:50 PM
 #74

It seems like in order to answer on your question I need to write down whole book about Bitcoin in this thread, lol. If you have a lack of education, you would rather go and look for some video films about Bitcoin technical side.

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July 17, 2018, 04:52:35 AM
 #75

It seems like in order to answer on your question I need to write down whole book about Bitcoin in this thread, lol. If you have a lack of education, you would rather go and look for some video films about Bitcoin technical side.

You are too focused on propaganda, that BTC enthusiasts provide You with. Calling sceptics uneducated is a common behaviour of scheme supporters.

https://www.bloomberg.com/features/bitcoin-bulls-bears/  You can read here, what much smarter persons, than I am, think. I give it 5%, that Im wrong about BTC and if I am.... I´m not ashmed to be wrong with Bill Harris. Now, dont get too exited with these 5%, I still say, BTC is clearly a scam. All promises, that Lightning Network or SegWit will come and solve all issues, are bluff. Again a typical strategy in schemes - a lot of promises and speculations about upcoming technologies, that will rocket value of "asset" into cosmos.
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