ipnone5only
Newbie
 Offline
Activity: 37
Merit: 0
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August 04, 2014, 12:02:48 PM |
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Myth: a bitcoin plutocracy is preferable to democracy
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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GTA
Member
Offline
Activity: 90
Merit: 10
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August 04, 2014, 12:15:14 PM |
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Myth: Bitcoin is more secure than traditional money transfer methods
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RepublicSpace
Member
Offline
Activity: 145
Merit: 10
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August 04, 2014, 12:43:29 PM |
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Myth: Bitcoin is more secure than traditional money transfer methods
Bitcoin is quite obviously more secure than traditional money transfer methods as there are no middlemen to mess with your transaction. As long as you keep your private keys safe  |
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Jubettarr
Newbie
Offline
Activity: 28
Merit: 0
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August 04, 2014, 12:52:15 PM |
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Myth: Bitcoin is more secure than traditional money transfer methods
Bitcoin is quite obviously more secure than traditional money transfer methods as there are no middlemen to mess with your transaction. As long as you keep your private keys safe So as long as you ignore the factor that makes it unsafe, it's safe. Cool |
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R2D221
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August 04, 2014, 01:04:15 PM |
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Myth: Bitcoin is more secure than traditional money transfer methods
Bitcoin is quite obviously more secure than traditional money transfer methods as there are no middlemen to mess with your transaction. As long as you keep your private keys safe So as long as you ignore the factor that makes it unsafe, it's safe. Cool Nothing is 100% safe. Also, you could keep your bank password unsafe, and your account would be emptied before you knew it. |
An economy based on endless growth is unsustainable.
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Bitcoin Magazine
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August 04, 2014, 01:11:28 PM |
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When most of the bitcoins have been mined transaction fees will not be high enough to support the network.
Myth or Truth?
myth. u could support the network with a single Block Erupter 333 mh/s USB Stick |
i am here.
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Bitcoin For Dummies (OP)
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August 04, 2014, 04:21:04 PM |
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how about we make one about how volatility is normal for technology that young
or how regulation and governments can't really stop it?
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counter
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August 04, 2014, 09:33:29 PM |
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I'd love to see the myth that only men are interested in Bitcoin disproved. I'm holding out faith that it is just a myth anyway.
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franky1
Legendary
Offline
Activity: 4214
Merit: 4461
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August 04, 2014, 09:41:29 PM |
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the myth that some rich guy will dump a few million dollars on bitstamp/coinbase and cause a spike in one day. .. seeing as they have deposit limits now, which were not there last year.
goodbye price ramps caused by whales entering the market, hello steady rises by small medium investors. and ofcourse the price resistance rise due to bitpay and others no longer having to sell directly on exchanges as much. due to whales buying privately from bitpay instead.
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Possum577
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August 04, 2014, 09:41:44 PM |
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I'd love to see you examine the myth that bitcoin will "absolutely, definitely, double, triple, exponentially increase in value to the USD".
Too may people talk about BTC definitely going up in value with absolutely zero math or logic to back it up.
I'm bullish on BTC and I'm glad others are too, but I don't have any fact for it...do you guys have any facts or analysis you can share with the rest of us?
Thanks.
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franky1
Legendary
Offline
Activity: 4214
Merit: 4461
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August 04, 2014, 09:47:20 PM |
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I'd love to see you examine the myth that bitcoin will "absolutely, definitely, double, triple, exponentially increase in value to the USD".
Too may people talk about BTC definitely going up in value with absolutely zero math or logic to back it up.
I'm bullish on BTC and I'm glad others are too, but I don't have any fact for it...do you guys have any facts or analysis you can share with the rest of us?
Thanks.
if you start in october 2013. and draw a line from 90$ and each 2 weeks increase it by 10%ish you will see the line of mining costs EG spring 2014 ($400) summer/now ($550) and if you don some maths of the hashpower/vs costs before terrahashers come online to see mining costs pre-october .. you will see that bitcoin prices never really went below mining costs.. (excluding mtgox on its day of closing). but thats not science, thats just opinion based on psychology of trading(resistance to sell at a loss) and other trends |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Night Owl
Newbie
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Activity: 18
Merit: 0
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August 05, 2014, 02:15:49 AM |
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Sorry I am new, but are online wallets safe for small amounts of BTC?
Oops sorry wrong thread |
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Satan666
Full Member
Offline
Activity: 123
Merit: 100
The love of fiat is the root of all good
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August 05, 2014, 11:23:22 AM |
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I'd love to see the myth that only men are interested in Bitcoin disproved. I'm holding out faith that it is just a myth anyway.
Women have no use for bitcoins because they love spending money, not hoarding it. |
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dwdoc
Legendary
Offline
Activity: 966
Merit: 1000
- - -Caveat Aleo- - -
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August 05, 2014, 06:29:52 PM |
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When most of the bitcoins have been mined transaction fees will not be high enough to support the network.
Myth or Truth?
myth. u could support the network with a single Block Erupter 333 mh/s USB Stick But then anyone could easily perform a 51% attack. Eventually transaction fees will probably not be high enough to insure network security. |
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Razick
Legendary
Offline
Activity: 1330
Merit: 1003
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August 05, 2014, 08:15:41 PM |
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I'm curious about this, when the last block of bitcoin will be mined, what will happen?
My 2 cents:
The miners will gain only transaction fees so the electric cost will be higher than the revenue,
therefore the number of miners will drop drastically and the chances of 51% attacks will be huge.
Conclusion: when the last block will be mined, bitcoin will die.
myth?
I would like to see this one busted since I'm not completely sure it's untrue myself. |
ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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franky1
Legendary
Offline
Activity: 4214
Merit: 4461
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August 05, 2014, 08:25:38 PM |
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I'm curious about this, when the last block of bitcoin will be mined, what will happen?
My 2 cents:
The miners will gain only transaction fees so the electric cost will be higher than the revenue,
therefore the number of miners will drop drastically and the chances of 51% attacks will be huge.
Conclusion: when the last block will be mined, bitcoin will die.
myth?
I would like to see this one busted since I'm not completely sure it's untrue myself. the year of 2140, has no realistic or meaningful explanation that would be of benefit to your corpse, which would have been burried many many years prior. so dont worry about it. talking about future events is a speculation/theory. and as it has not happened nor will happen for 125 years it will remain a theory. and thus any talk about the year 2140 WILL BE A MYTH until the yar 2140 which is when those myths can be proven as fact. in short you cant bust a myth until after the fact. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Omikifuse
Legendary
Offline
Activity: 1750
Merit: 1009
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August 05, 2014, 08:29:04 PM |
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myth: bitcoin price must be stable before mass adoption
reason: there is a finite number of bitcoins to be generated, so mass adoption will follow a big rise in price, if it ever to happen
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CoinDiver
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August 05, 2014, 08:39:10 PM |
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"Didn't bitcoin go bankrupt?"
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CoinDiver
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August 05, 2014, 08:39:53 PM |
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"Didn't bitcoin get hacked?"
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counter
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August 06, 2014, 06:11:15 PM |
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I'd love to see the myth that only men are interested in Bitcoin disproved. I'm holding out faith that it is just a myth anyway.
Women have no use for bitcoins because they love spending money, not hoarding it. Call me crazy but the seems sexist to me. How can you make that statement and expect to be taken seriously? Wouldn't hoarding it make them a profit which means more money to spend? It's like saying poor people have no use for Bitcoin because they spend all their money to live. I'm just going to assume you were making a joke and in that case, haaha good one! |
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