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richwicks saysI don't know about all cryptos, but with Bitcoin in particular, it's unworkable as a way to pay for goods and services.
This shows me you don't know anything about ALL cryptos including bitcorn.
You have NEVER moved a bitcoin from one wallet to another or attempted to have you?
@richwicks in essence what you said would be equivalent to saying TCP/IP has no real value. It just moves packets around, you can't make money off of it, it's a scam - back in the day.
The hope of all this bullshit is that eventually, a massively distributed database can be made to work in real time. Now if you can DO THAT - that's worth some fucking money
richwicks saysYou have NEVER moved a bitcoin from one wallet to another or attempted to have you?
Of course I have.
richwicks saysThe hope of all this bullshit is that eventually, a massively distributed database can be made to work in real time. Now if you can DO THAT - that's worth some fucking money
Again, read the fucking paper I linked above. Clearly you haven't heard of the lightning network or can't fathom the idea that LAYERS are being added to this tech, just like Amazon and Google are layers on TCP/IP. People can poo poo most of the alt coins all they want and I'll be right there in agreement with them but people who spout ignorant nonsense about bitcorn don't know shit about shit.
How long did it take, and what was the cost, and what year?
You might be out of date.
it won't be allowed.
FJB says@richwicks in essence what you said would be equivalent to saying TCP/IP has no real value. It just moves packets around, you can't make money off of it, it's a scam - back in the day.
Don't strawman me. You know you are engaging in a logical fallacy, but you do it anyhow.
richwicks saysI don't know about all cryptos, but with Bitcoin in particular, it's unworkable as a way to pay for goods and services.
This shows me you don't know anything about ALL cryptos including bitcorn.
people who spout ignorant nonsense about bitcorn don't know shit about shit.
OH, you're talking about poop! If you chew the corn more thoroughly the bits won't be recognizable.
Onvacation saysAre you saying crypto IS good for paying for goods and services?
Indeed ol' chap!
READ!
THE!
FUCKING!
PAPER!
Or go watch a youtube video sheesh.
Bitcoin is not new and it is one of the most widely held financial assets in the world. Between Coinbase and E-Toro (just 2 firms) they have over 90 million clients. There are a plethora of other firms trading crypto currencies all over the world probably with hundreds of millions of other clients. There's over 19k different crypto currencies.
Bullshit. Congress criters are buying in. The ones running for office (both left and right) are behind it. Pension funds, hedge funds and banks are buying in. The loudmouth anti-bitcoin names of the past like Ray Dalio and buying in AND were doing so while spreading FUD.
There are countless companies being spun up to address this new market. Silicon Valley can't hold onto their engineers for these new job roles. One country made it a currency last year (El Salvador) and I'm going to bet at least 2 more do it this year.
Some countries are allowing spot market ETFs already (we allowed a futures ETF last year and spot will happen b/c we aren't N. Korea).
So, you sell some crypto for fiat and then you can make a purchase. How is that better than just using fiat?
Why is crypto valued in fiat?
It's just another classic Ponzi scheme promising to be a new monetary system that has never been shown the ability to actually work.
So sick of people pumping this.
richwicks saysIt's just another classic Ponzi scheme promising to be a new monetary system that has never been shown the ability to actually work.
So sick of people pumping this.
I'm sick of ignorant people making BS statements about shit they don't understand.
I'm sick of ignorant people making BS statements about shit they don't understand.
You're just pumping this thing.
It's a 10% fee currently to move from one wallet to another, if you want to do it under and hour.
it's not ever going to be a fucking currency.
Transaction and maintenance costs are tremendous and it can go to 50% in a week, as we just saw - some currency.
In layman's terms, how do you think the open source blockchain works?
Just as a mathematician wouldn't play the lotto, except for fun, a software engineer wouldn't dabble in crypto, except maybe to unscrupulously dupe some HODLer.
It's a Ponzi scheme that requires new money for old money to cash out. Not only that, like any Ponzi scheme it requires new money just to sustain it. Somebody has to pay for the miner's electricity, hardware, rent, utilities, food, hookers and blow.
This is not bitcoin. If you don't understand why it's simply because you don't understand bitcoin. That is understandable. It's commonly stated that it takes ~100hrs of study to truly understand it. Not to mention fintech, defi, the way too many other alt-coins, most of which ARE in fact scams as far as I'm concerned.
I also don't think the legacy financial system has a bright future.
The advice I have for them is to get a clue or be ready to eat the biggest shit sandwich they have ever seen ;)
The problem with the haters here they grabbed the easy way out and decided w/o any 'real working knowledge of crypto" because that takes effort, decided they
don't like crypto no matter what. So now all that toxic pride is in print and none have the balls or humility to look into the facts and recant their obvious ignorance.
The advice I have for them is to get a clue or be ready to eat the biggest shit sandwich they have ever seen ;)
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value