Thread: RIP Bitcoin

Originally Posted by Maanaam

There's an interesting analogy in the diamond market.

any commodities market.

Originally Posted by Maanaam

He scammed 200 million out of people. Takes a bit of nouse.

But, speaking of financial mathematical geniuses...Is Warren Buffet?

His first business venture as a kid was buying sixpack Cokes for $1.20 and selling them for 25c each; people chuckled at his few cents profit till he pointed out he wasn't interested in cents but percents, that 30c profit per sixpack was 25% which few stockmarket traders could match.

Originally Posted by uncle junior

any commodities market.

No, diamonds in particular.
They used to be rare, found in river beds in India and Brazil, but with modern mining techniques, they are not nearly so rare as they were. Then De Beers found the hype: Engagement rings! Everyone had to have them if they were to get married.
Diamonds have an inflated value due to people believing they are rare. They are not rare and can be mined.
Good analogy with the mining aspect with crypto.

^ Yep, nouse.

Originally Posted by uncle junior

Just transferred a bunch money to my brother back in the states using crypto, cheaper and a zilllion percent easier than going through the banks. If it's all a scam it's one I can live with.

Watching my ETH calssic go up is a nice extra tooo

great news, ... how did u do that please

Originally Posted by Maanaam

I don't think anyone is rubbishing blockchain technology. I am not. It will be the future for almost everything once they sort out the security issues.
Cryptocurrency, however, totally relies on the hype of the perceived potential rise in value. It's all hype. When the hype dies for any number of reasons (such and grand theft of exchanges, regulation, etc), the value dies, and it will be an avalanche.

There's an interesting analogy in the diamond market.

The thing to keep in mind is that Bitcoin is the blockchain, and the foundation of the new internet of money. That won't be going away.
The building blocks on Bitcoin will be many, around the globe, and in many facets. Some serious some not, time has come for personal responsibility and the witness of value.
Why?
Because of the inherent honesty and accountability of Bitcoin. The trust-less aspect of Bitcoin cannot be overemphasized. Something so new to humanity.

Originally Posted by AntRobertson

My BX account verification was just rejected. Need to resubmit me docs.

take it as a sign.

Originally Posted by Mr Earl

The building blocks on Bitcoin will be many, around the globe, and in many facets. Some serious some not, time has come for personal responsibility and the witness of value.
Why?
Because of the inherent honesty and accountability of Bitcoin. The trust-less aspect of Bitcoin cannot be overemphasized. Something so new to humanity.

Originally Posted by lob

great news, ... how did u do that please

Sent a couple ETH tokens to his Exodus wallet...badabing

Originally Posted by raycarey

That's right Ray. Do you recall when the internet was compared to a fax machine?

Bitcoin is the internet of money.

You should be going; wow, wowy, wow wow.

Not playing stupid...

Originally Posted by Maanaam

^ Yep, nouse.

Commodiity markets are hype driven,,microsoft, oj rookie cards, cryptos, tulips ;doesn't matter., people start seeing the profit of an active market and a frenzy begins .

I'd say diamonds are a terrible analogy on account of the way they're mined. There is a core of crypto developers that are actually working on developing good products or at least trying . Diamonds; a bunch of Africans slaving so a bunch of rich fekkers can wear a ring...nothing much worthwhile going on there.

Originally Posted by Maanaam

I don't think anyone is rubbishing blockchain technology. I am not. It will be the future for almost everything once they sort out the security issues.
Cryptocurrency, however, totally relies on the hype of the perceived potential rise in value. It's all hype. When the hype dies for any number of reasons (such and grand theft of exchanges, regulation, etc), the value dies, and it will be an avalanche.

There's an interesting analogy in the diamond market.

actually Earl is right, blockchain without mining and the currency is a bit pointless

the real killer is going to be the protocol to build some kind of "block" information suite, if that gets done in an open standard with a lot applications interface and APIs, that might actually work

and no, ETH is not accomplishing this already

^ETH has many limitations, the real future is in the micro-payment arena, like Steemit. A real world application which is pretty cool. Ya get paid for posting quality content. What a fucking novelty!

Originally Posted by AntRobertson

My BX account verification was just rejected. Need to resubmit me docs.

Originally Posted by raycarey

take it as a sign.

It maybe is, but Smeg's monitoring this thread like a hawk and reporting my every post to his little acolytes over on TC and getting legit worked-up and angry over it all.

I can't stop now, that's worth the investment alone!!







Hi Smeg!

Isn't Thai3 smeg?

No that's xanax AKA crazydog AKA however many other logins he has had.

Easy to confuse the two though... both not very bright, both very obsessed...

^ Got it.

Originally Posted by AntRobertson

It maybe is, but Smeg's monitoring this thread like a hawk and reporting my every post to his little acolytes over on TC and getting legit worked-up and angry over it all.

I can't stop now, that's worth the investment alone!

Well you've certainly managed to come up with the most ignorant reason imaginable to get involved in crypto-currencies.

Have you considered studying the subject itself? Highly recommended, lest you wish to end up growing old and being broke.

Originally Posted by Dragonfly

actually Earl is right, blockchain without mining and the currency is a bit pointless

No, I disagree.
Blockchain is great for transparent open ledger record keeping. There are good things in that and nothing to do with fantasy finance. "Currency" mining is a dead end pyramid scam. Open ledger record-keeping can be great, especially for anarchist antidisestablishmentarians, but also for Joe Citizen. Real property ownership. Real ID. Real money.
But security has to be rock solid. Blockchain technology's intergrity has to be established.

Originally Posted by Mr Earl

Well you've certainly managed to come up with the most ignorant reason imaginable to get involved in crypto-currencies.

Have you considered studying the subject itself? Highly recommended, lest you wish to end up growing old and being broke.

Wait... you actually took that seriously??

What's wrong with you.

^ The OCD is working overtime today, ain't it.

Nice one Earl, nobody will notice your Asperger's-like inability to discern tone with that cunning distraction.

Well played.

Originally Posted by Maanaam

No, I disagree.
Blockchain is great for transparent open ledger record keeping. There are good things in that and nothing to do with fantasy finance. "Currency" mining is a dead end pyramid scam. Open ledger record-keeping can be great, especially for anarchist antidisestablishmentarians, but also for Joe Citizen. Real property ownership. Real ID. Real money.
But security has to be rock solid. Blockchain technology's intergrity has to be established.

Still in it's birth stages, long way to go but even so early the benefits are clear, and with the potential to develop toward new and creative platforms, corrupt parts of the establishment should rightly be terrified. Immutable, open ledger not controllable by any person or entity, once on a blockchain data will be there forever and cannot be edited or shredded or conveniently lost in a fire...millenials especially should fawn over it!

Originally Posted by jabir

Immutable, open ledger not controllable by any person or entity, once on a blockchain data will be there forever and cannot be edited or shredded or conveniently lost in a fire...millenials especially should fawn over it!

Except when they want to exercise their right to be forgotten when they realise the sordid pics of themselves as drunk youngsters are permanently online.
I'm so glad I didn't grow up in the days of social media or camera phones.

Originally Posted by Plan B

I'm so glad I didn't grow up in the days of social media or camera phones.

Boy oh boy, am I what!