Thread: RIP Bitcoin

HYP up 20% today as well.


#bladdymintingit

PoW mining is not just coins. The coins are a reward for doing the computation to validate transactions.

If the system has masternodes it is not distributed and can be controlled

Bitcoin itself can be controlled now if someone has over 51 percent of the hash power. Approx 500 million dollars worth of asics will do the job
More and more of bitcoin hash power is being consolidated in the hands of fewer mining companies who then can decide.

The combined pow and pos of DCR would need about 12 billion dollars of asics now to achieve the same though they then would need 60 percent of the stake tickets also. This is the reason the company 0 team moved away from bitcoin model and the reason I think they have a better model

Originally Posted by longway

Think of it like this. A bc and its currency are entirely separate entities, but neither can exist in a viable form without the other. The securing of transactions on a bc requires a currency with value. the currency is what imposes costs on changing the contents of the block chain.

Originally Posted by Farangrakthai

Now what is “blockchain technology” you might ask? Ironically, there is no consensus on the definition:

1. Minimalists will argue it is only Bitcoin
2. Some people think it should include any DL with chained blocks
3. Some experts think it should include any DL with some key features: chained blocks, immutability & consensus protocol

so, longway: i take it you're a minimalist (regarding blockchain), right?

^ oh fit Christ sake. I don't even know the discussion is about any more. I have made myself as clear as I can. For the record I align more with 3. Good luck on your future endeavors in the crypto world, as you are going to need it.

Originally Posted by Farangrakthai

Originally Posted by longway

the dls you describe don't have blocks.

well, i've posted many; though, how about smart contracts?

before you go, longway: why do you think (if you do) smart contracts don't use blockchain?

Originally Posted by Farangrakthai

before you go, longway: why do you think (if you do) smart contracts don't use blockchain?

I think I understand you=, assuming you are not trolling me, in which case well done.

Let me make these points

1. Bitcoin is not just a cryptocurrency, it is the name for its BC and currency, both are entirely separate, but require each other to exist in a viable useful form

2. There are many blockchains and each their attendent currencies to power them.

3. Transferring money is only the tip of the iceberg wen it comes to blockcain applications, so I do think smart contracts use blockchains

4. Blockchains are the solution to operating a DL in a trustless permissionless environment.

4. When I told you that BCs require a currency to operate, you brought up private DLs, these are not Bchains, they have a different design. They dont need a BC to function, in fact its pointless to have a system like that in a closed network.

A good month. 6,000 to almost 18,000


Get on as it's about to continue its nice climb.

fair points, longway and agree on this.

Originally Posted by longway

Transferring money is only the tip of the iceberg wen it comes to blockcain applications, so I do think smart contracts use blockchains

You are loving this Luigi

Originally Posted by Luigi

Originally Posted by Maanaam

So, 31k invested and maybe a further 100k.
Hmmm.

You missed when I topped it up to 1m baht

Originally Posted by Pattaya Plies

You are loving this Luigi

assuming that luigi isn't gambling with more than 3% of his net worth, he must be a millionaire (us$) already and is just having fun.

Originally Posted by Farangrakthai

assuming that luigi isn't gambling with more than 3% of his net worth

Probably closer to 300%

Bitcoin billionaires tip cryptocurrency's value to soar by another 20 times - NZ Herald

Just traded my non-BTC portfolio to 23% LTC.

DAS and ETH also feature strongly.

Originally Posted by AntRobertson

Bitcoin billionaires tip cryptocurrency's value to soar by another 20 times - NZ Herald

The problem is, when it comes time for everybody to cash in, there won't be enough cash in the World to do so.

Originally Posted by Mr Earl

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!

actually Apple is developing a similar tech, sending cash with mobiles, and you don't need Bitcoin or even blockchain for that

^ mactard

Lick jobs ring piece every time you transfer satang

You continue to demonstrate how clueless you are about this tech

Total lack of comprehension

Originally Posted by Dragonfly

actually Apple is developing a similar tech, sending cash with mobiles, and you don't need Bitcoin or even blockchain for that

Kenyans way ahead of Apple there, they use a system called MPESA, it developed out of people trading mobile tops ups and transferring them, they get charged a high % to transfer. Countries like this are crying out for good BC tech, it takes their money out of the immensely corrupt environments in which they are forced to operate without having to pay expensive charges.

Originally Posted by Farangrakthai

so, longway: i take it you're a minimalist (regarding blockchain), right?

it doesn't really matter does it, it's all a scam at the end, and it has no fundamental value of any kind

it's like arguing about the color of Tulips and why a certain color should be more valuable than another

Originally Posted by baldrick

^ mactard

Lick jobs ring piece every time you transfer satang

You continue to demonstrate how clueless you are about this tech

Total lack of comprehension

hardly a mactard, dumbo

and you clearly demonstrated you were a chav looking to strike it rich on a scam business where tech is an excuse for value

total lack of common sense, but again you are a chav

couple of questions, one, any recomended brokers,, two,, can buy in pds/sterling, sell in bt, cheers

Originally Posted by Luigi

The problem is, when it comes time for everybody to cash in, there won't be enough cash in the World to do so.

shhh!!! please don't tell, you will spoil the dream

Originally Posted by longway

Kenyans way ahead of Apple there, they use a system called MPESA, it developed out of people trading mobile tops ups and transferring them, they get charged a high % to transfer. Countries like this are crying out for good BC tech, it takes their money out of the immensely corrupt environments in which they are forced to operate without having to pay expensive charges.

mobile operators can be greedy, but Apple is changing that

you don't need BC to do all this shit, for cheap, and securely

in Europe, we have SEPA, and soon instant SEPA, and it's all free. I can send money to anyone Europe for free, it takes less than 1 day and soon it will be instant.

Thai banks have had instant cash transfer for over 20 years, and they surely didn't need BC for that

Originally Posted by Dragonfly

mobile operators can be greedy, but Apple is changing that

you don't need BC to do all this shit, for cheap, and securely

in Europe, we have SEPA, and soon instant SEPA, and it's all free. I can send money to anyone Europe for free, it takes less than 1 day and soon it will be instant.

Thai banks have had instant cash transfer for over 20 years, and they surely didn't need BC for that

and they gouge you for it, all part of the service. you think you are not paying the banks anything?