Thread: RIP Bitcoin

Originally Posted by AntRobertson

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

Anty Pantie a lost cause at 46, quite clueless about the truth of the world, your body, and just about everything else..sad kinda sorta...

So that's a 'yes' I suppose. Huh.

Originally Posted by Luigi

No need for that. They already have scans of my passport, photo, house book, bank book and account numbers.

Therein lies a new batch of dangers, which is why my trades have been and will be through someone I trust who took the time to do dd and is already set up without having to give his broker far more than everything they need for identity theft.

if you are going to drop money in other alts , do the research - not just the sub reddit where the fanbois shout moon

and make sure you know the difference between a coin and a ECR20 token - this crypto kitties debacle has highlighted some serious issues with ETH and will likely impact anything using ECR20

understand what a premine is - many of these coins will be dumped by their developers when they decide they have enough money to retire

check out the developer team - have they got real names or just game kiddie nicknames where you are unable to check their past coding achievements or business - look them up on linkedin

check out their roadmaps and see if they are making stupid promises - a chinese ECR20 token - mysafehouse.com - in their roadmap had " trial on animal Q2 2018 " - https://www.reddit.com/r/icocrypto/c...e_proposition/

fair enough throw a hundred dollars at a coin that is worth fractions of a penny , but pick ones that may be more than a pump and dump

and join polinex , binance to have access to the majority of trades - read reddit and bitcointalk for info on your chosen

Originally Posted by jabir

Therein lies a new batch of dangers, which is why my trades have been and will be through someone I trust who took the time to do dd and is already set up without having to give his broker far more than everything they need for identity theft.

just like exchanging cash at superrich

and shilling for my choice of coin - DCR - I stake
https://medium.com/decred/the-top-5-...r-50c40b50bd08

Originally Posted by baldrick

many of these coins will be dumped by their developers when they decide they have enough money to retire

like any good pyramid scheme does.

;-)

people are taking out mortgages on their homes to buy bitcoin.

https://www.cnbc.com/2017/12/11/peop...seph-borg.html

Originally Posted by raycarey

people are taking out mortgages on their homes to buy bitcoin.

are they really , or is it just a news producer throwing lollies for click children ?

Originally Posted by raycarey

people are taking out mortgages on their homes to buy bitcoin.

and young people are using their credit cards on the bitcoin website to buy bitcoins (apparently, using a credit card is suggested on bitcoin.com as the easiest way to buy bitcoins).

^ around the time I first bought in, google's top search for the week was 'How to buy bitcoin with a credit card?' which had a score of 100 on their 1-100 search scale.

Originally Posted by baldrick

are they really

according to this guy, yes.

"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.

Originally Posted by baldrick

lollies for click children

Originally Posted by Farangrakthai

because, it's better, apparently:

well its not, definitely. Block chains are designed for decentralised verification and they have to be fully transparent, there no reason to use them otherwise.

but believe whatever you want to believe.

Originally Posted by Farangrakthai

and young people are using their credit cards on the bitcoin website to buy bitcoins (apparently, using a credit card is suggested on bitcoin.com as the easiest way to buy bitcoins).

This could lead to heavy duty litigation, since various consumer acts lay specific and general legal obligations on cardcos. If, a big if, if btc does crash causing cc customers to lose large amounts of money, it could bring on a slew of individual and class actions that the cardcos will want to avoid.

Originally Posted by longway

but believe whatever you want to believe.

it's not a matter of what i believe; it's how it's being adapted to be used more widely (not just used in the way bitcoin uses it with "proof of work" like we discussed earlier).

as mentioned, these are some examples of governments who will start using it: https://www.cio.com/article/3194586/...nsactions.html

the reason businesses are interested in using block chain is apparently because as a distributed ledger:

"each entry/update in the ledger is a block in the chain of transactions among the participants."

​https://www.cio.com/article/3194149/...r-company.html

Blockchain is a decentralized digital distributed ledger shared by a peer-to-peer network of computers. It’s a mechanism that brings efficiencies, transparency, security, auditability and trust into shared business processes at a very broad level.

The business process could be internal to an organization, or it could be among different external parties. The transactions are verified and recorded in the ledger almost instantly.

When a transaction occurs, the technology performs validation by each participant and records an entry in the ledger. Each entry/update in the ledger is a “block” in the “chain” of transactions among the participants.
Since a blockchain distributed ledger is not maintained through a central authority or clearinghouse, it reduces the “friction” and inefficiencies.

Currently in the U.S., it can take two days for a central authority to match transactions and complete the entire process. Blockchain can complete it in 10 seconds. It also eliminates a single-point-of-failure risk of denial-of-service (DDoS) attacks and the opportunities for fraud that exist in transaction systems today.

In addition, blockchain uses cryptography to ensure participants’ privacy and prevent hacking while participants’ data moves through the ledger.

Blockchain also eliminates the need to do separate reporting to regulatory authorities. A distributed ledger can be shared with a regulatory body so it has a complete view of all transactions happening on the blockchain.

Originally Posted by baldrick

are they really , or is it just a news producer throwing lollies for click children ?

Wait till lightening networks start being hyped, is decred the only one with it implemented?

I am patiently waiting for that little baby to take off, that was a nice tip.

in the meantime todays fliers are eth and ltc, luckily i have some ltc stashed just for such an occasion.

My LTC holdings have doubled in around 2 days.

Originally Posted by Farangrakthai

it's not a matter of what i believe; it's how it's being adapted to be used more widely (not just used in the way bitcoin uses it with "proof of work" like we discussed earlier).

as mentioned, these are some examples of governments who will start using it: https://www.cio.com/article/3194586/...nsactions.html

the reason businesses are interested in using block chain is apparently because as a distributed ledger:

"each entry/update in the ledger is a block in the chain of transactions among the participants."

Ok so it is a DL based on trust, public BCs are trustless and need a currency to make it function.

Not sure if it is a BC, as in a BC each transaction is not a block, transactions are recorded within a block and become immutable within it. Its a DL, but I dont think it is a BC.

$243.77 USD (59.24%)


LTC up 60% again today.


Could be the next BTC in 2018?... $300 to $16,000 in a year?


Worth sticking some BTC returns on it and seeing what it's at in Dec 2018 innit bruv.

Your buddy with his safe must be gutted.

Originally Posted by longway

Its a DL, but I dont think it is a BC.

from what i understand, bitcoin uses blockchain and needs the coins to pay the miners who use their computer power to perform the verification process for bitcoin.

right?

of course, if the block chain is for private use, then there is no need to have coins to pay for miners to perform the verification process.

https://medium.com/swlh/does-a-block...n-66c894d566fb

Does a Blockchain Need a Token?


3’s Corda and IBM’s Fabric.

Consensus on Corda is reached at a transaction level and only involves parties privy to a transaction. There is no “proof of work” or “miners” in order to verify transactions. As Philipp Sandner explains in his blogpost, “Consensus is based on transaction validity and transaction uniqueness.

Validity is ensured by running the smart contract code associated with a transaction, by checking for all required signatures and by assuring that any transactions that are referred to are also valid.

Uniqueness concerns the input states of a transaction. Specifically, it has to be ensured that the transaction in question is the unique consumer of all its input states. In other words, there exists no other transaction that consumes any of the same states. The reason for this is to avoid double-spends.”

While tokens can certainly be introduced onto the Corda platform, it is not intrinsic to the platform and is not needed to “grease the wheels”.

^ as i said before these dont sound like bchains, they are DLs, if you are verifying each transaction within a closed network, you dont need a block within which to lock them, it works on trust so you dont need a bchain.

bchains are the solution to trustless permissionless networks and cannot be centralised to function as designed.

^ the dls you describe don't have blocks, it sounds like each transaction is verified instantly by looking within a closed network, if it gets hacked it's broken, bchains are designed to withstand any of these kinds of attacks.

Originally Posted by longway

the dls you describe don't have blocks

which ones?

^ all the examples you have presented so far.