Thread: RIP Bitcoin

I did a whitewash with some of my BTC returns and put cash into 9 different ones.

Of course I've no idea what they are, never mind what they do, but if I look back into my wallet in 5 yrs time and the ten trillion OMG coins I bought for 1,000thb are now worth ten gillion trillion billion USD each I'll drink my own urine to celebrate.

The beauty of a worldwide scam is that their will always be some able to offer comfort and look after your best interests.

Lulu just buy the oven now on the never never

Are all websites registered in Panama ?

Originally Posted by Luigi

I'll drink my own urine to celebrate

ok post recorded

Don't worry, Manfan has every post of mine automatically screen shotted, saved and documented.

Originally Posted by longway

what I described above applies to proof of stake bchains, proof of work bchains work differently, but still require a currency.

from what i've read (a few articles/month), blockchain will move the whole internet to a higher level and it's not the same as how it works with bitcoin.

instead of "proof of stake" or "proof of work" like bitcoin uses:

https://www.ibm.com/blogs/blockchain...-for-business/

The Bitcoin blockchain in its simplest form is a database or ledger comprised of Bitcoin transaction records. However, because this database is distributed across a peer-to-peer network and is without a central authority, network participants must agree on the validity of transactions before they can be recorded.

This agreement, which is known as “consensus,” is achieved through a process called “mining.”

After someone uses Bitcoins, miners engage in complex, resource-intense computational equations to verify the legitimacy of the transaction. Through mining, a “proof of work” that meets certain requirements is created.

rather than using mining to verify the transactions, "selective endorsement" is used:

https://www.ibm.com/blogs/blockchain...-for-business/

blockchain can be used for a much broader range of assets than just cryptocurrency.

Bitcoin thrives due to anonymity. Anyone can look at the Bitcoin ledger and see every transaction that happened, but the account information is a meaningless sequence of numbers. On the other hand, businesses have KYC (know your customer) and AML (anti-money laundering) compliance requirements that require them to know exactly who they are dealing with. Participants in business networks require the polar opposite of anonymity: privacy.

Consensus in a blockchain for business is not achieved through mining but through a process called “selective endorsement.” It is about being able to control exactly who verifies transactions, much in the same way that business happens today. If I transfer money to a third party, then my bank, the recipient’s bank and possibly a payments provider would verify the transaction. This is different from Bitcoin, where the whole network has to work to verify transactions.

Why will blockchain transform the global economy?

Similar to how the internet changed the world by providing greater access to information, blockchain is poised to change how people do business by offering trust.

The benefits of blockchain for business are numerous, including reduced time (for finding information, settling disputes and verifying transactions), decreased costs (for overhead and intermediaries) and alleviated risk (of collusion, tampering and fraud).

Originally Posted by longway

i cant see the point of using block chains with this type verification method,

because, it's better, apparently:

Originally Posted by Farangrakthai

https://www.cio.com/article/3194586/...nsactions.html

Here are some of the most notable entities that have examined blockchain and are now moving to adopt it.

Originally Posted by buriramboy

So I can see and understand the attraction of Bitcoin and its acceptance but all these other cryptos surely they are just a scam or can you spend them too?

You haven't been paying attention have you!

Toddle off now and go count your Beanie Babies.

Originally Posted by buriramboy

So I can see and understand the attraction of Bitcoin and its acceptance but all these other cryptos surely they are just a scam or can you spend them too?

No one is spending any of them, BC included. You can convert them back to dollars so in that sense you can spend them.

None of them will ever have value as a medium of currency without price stability.

Bitcoin is dead!

Originally Posted by Mr Earl

You haven't been paying attention have you!

Toddle off now and go count your Beanie Babies.

Well obviously but I understand you can spend Bitcoin but these other ones have what value if unlike Bitcoin you can't actually buy any whores with them?

Originally Posted by buriramboy

Well obviously but I understand you can spend Bitcoin but these other ones have what value if unlike Bitcoin you can't actually buy any whores with them?

Every lady has a smartphone today, your can set them up with a Bitcoin wallet and send them some Bitcoin, ETH, LTC, whatever, in less than 15 minutes!

Bitcoin and a smartphone not only means you are your own banker, but you are the bank!
This is a true game changer.
ATM's where you can transfer Bitcoin for fiat or fiat for BTC are beginning to appear is many cities around the world.
It wont be long before more banks get on board, as they see this as a new opportunity, to fleece the public for some fees.

You're missing my point mr earl, I get Bitcoin as it seems to have some real value as can spend it. My point was all these other cryptos as in everyone that isn't Bitcoin just seems to have been created out of thin air with nothing to back it up and hence no value. As I've just started biriramboycoins anyone want to buy 10 or 20?

Originally Posted by buriramboy

You're missing my point mr earl, I get Bitcoin as it seems to have some real value as can spend it. My point was all these other cryptos as in everyone that isn't Bitcoin just seems to have been created out of thin air with nothing to back it up and hence no value. As I've just started biriramboycoins anyone want to buy 10 or 20?

Sure anyone can start a coin, up to you to provide value.
Some kid in S. Korea recently created Bitcoin Platinum on a lark...took in some money. Later apologized.

The top coins have something going for them, ya gotta study each one, who developed it and so forth.

Originally Posted by buriramboy

I get Bitcoin as it seems to have some real value as can spend it.

Spend it where?
It's like walking into a shop and asking if you can pay with a lottery ticket. The ticket has value as you paid for it, and may even produce a huge profit. Maybe some shopkeepers who were going to buy a ticket would accept, but most wouldn't.

LTC also up nicely the past few days.
I've been watching BTC too close and forgot all about the others.
From $90 to $220 since Friday.
Wow!

17021.48 US Dollar

LTC and FTC ripping it up!

Originally Posted by Mr Earl

No real need to mention how utterly ignorant you are...

Let's see an alcoholic semi-literate pimp from Phuket who drinks his own piss want[sic] to school me on economics of crypto...

Originally Posted by fiddler

LTC also up nicely the past few days.
I've been watching BTC too close and forgot all about the others.
From $90 to $220 since Friday.
Wow!

Tiz a good long-term move to spread some of the tasty BTC profits among them.

^^Precious Anty Pantie you are quite beyond any schooling at this point, a true lost cause...

Originally Posted by Mr Earl

Anty Pantie

...you're in your mid-to-late 60's, right?