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Nocoiner predictions: 2021 will be year of comedy gold

amycastor.com

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Re: Nocoiner predictions: 2021 will be year of comedy gold

#51

Post by pg_bot »

qnmaster wrote: post #49
pg_bot wrote: post #46

Earlier quoted context omitted.

I'm not too deep into this world, and you can correct me if I'm wrong but weren't those forks of the ledger due to technological disagreements and not folks starting over from scratch? Has anyone said, we are literally copying the exact same protocol and tech from bitcoin and just say this is another parallel version? As an end user why would you care if coins were in epoch-1 or epoch-2 if they perform the same exact…

This is a rabbit hole, but the TL;DR is that it's very resilient against precisely these types of attacks.

How would what I'm describing be classified as an "attack"?

Re: Nocoiner predictions: 2021 will be year of comedy gold

#53

Post by qnmaster »

pg_bot wrote: post #51
qnmaster wrote: post #49

Earlier quoted context omitted.

This is a rabbit hole, but the TL;DR is that it's very resilient against precisely these types of attacks.

How would what I'm describing be classified as an "attack"?

Every time it's been done, it's clearly an attempt by the developers to profit. Why else would one duplicate something, hardly change it, but attempt to pass it off as the original thing?

Re: Nocoiner predictions: 2021 will be year of comedy gold

#54

Post by ur-whale »

rarefied_tomato wrote: post #12

Weaver's claim about Tether being a vehicle to inflate the price of Bitcoin is odd. The main Tether-BTC transacting I'm aware of is in high frequency trading. Any longterm position in Tether is effectively against BTC (electing to instead hold a tokenized USD). Furthermore, Tether has a market cap only 1/16 of BTC. You can say either are flawed individually, but their valuations are independent. China also has a geop…

>Tether being a vehicle to inflate the price of Bitcoin is odd

I'm not so sure.

I'm a great supporter of Bitcoin, but:

     a) Tether worries me a great deal, especially if you dig into the background of the folks behind it. Unless tether lets itself be properly audited and proves cash reserves, it can indeed, in a rater straightforward manner, be used to manipulate BTCUSD

     b) The current price action also worries me a great deal: it's IMO likely going to go through more 2018-like volatility events (i.e. a x5 haircut to shed speculators) through 2021 thereby lending temporary credibility to the nocoiners arguments.
I'd much prefer to see Bitcoin price be either stable in value or growing slowly.

But the nature of the beast makes that proposition a difficult one until it reaches its "natural" capitalization (whatever that may be - some say that of gold).

Re: Nocoiner predictions: 2021 will be year of comedy gold

#55

Post by ur-whale »

jayd16 wrote: post #40
disruptalot wrote: post #3

The same tired arguments as ever: miner death spiral, not scarce, ponzi, tether etc. But with a new timeline. I'm sure it'll happen this year!

You act like it hasn't been barely 3 years since the last massive crash. You need it to happen every other year?

Obligatory:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

Re: Nocoiner predictions: 2021 will be year of comedy gold

#56

Post by ur-whale »

olalonde wrote: post #15

Typical nocoiner, always focused on price...

Yeah, agree 100%.

I'll go one step further and argue that some of the scenarios described in the article are not unreasonable.

What they fail to see is that if these actually come to pass (e.g. Tether collapse), it will actually good for Bitcoin in the long run.

Money badger don't care.

Re: Nocoiner predictions: 2021 will be year of comedy gold

#57

Post by ur-whale »

vorpalhex wrote: post #23
seibelj wrote: post #5

Bitcoin is a novel innovation that is actually useful to some people - it is artificial digital scarcity and a decentralized payment network that is separate from government or any centralized entity. It is totally voluntary. Ethereum is also an absolutely fascinating technology. Some people become “experts” and refuse to see innovation when it is staring themselves in the face. The world can’t change to these people…

Yes, Bitcoin is excellent for money laundering.

> Yes, Bitcoin is excellent for money laundering.

True or not, this argument is essentially orthogonal to Bitcoin's usefulness and success.

As others have pointed out, there are many financial institutions / instruments that also fit the bill and that does not diminish their utility.

To make the point maybe more salient: a moving vehicle can be used to kill a person, that doesn't mean cars should be eliminated.

Re: Nocoiner predictions: 2021 will be year of comedy gold

#58

Post by ur-whale »

corona-research wrote: post #11

Rubini... lol

I do agree that it is really hard to take Rubini seriously.

Much of that has to do with the way he expresses itself: he's really obnoxious to listen to and one has to make a great effort to get past that 100-foot wall of aggression to try and understand if there's any value in his arguments.

I have honestly tried, and once you peel off the tone and posturing, I must confess there isn't much to be found.

Re: Nocoiner predictions: 2021 will be year of comedy gold

#59

Post by pg_bot »

qnmaster wrote: post #53
pg_bot wrote: post #51

Earlier quoted context omitted.

How would what I'm describing be classified as an "attack"?

Every time it's been done, it's clearly an attempt by the developers to profit. Why else would one duplicate something, hardly change it, but attempt to pass it off as the original thing?

I mean technically in this case it's just another copy of the original thing no need/want to try and deceive people. In the long run all bitcoin will be lost. You could also parallelize transactions which I believe is still a problem in the cryptocurrency community.

Re: Nocoiner predictions: 2021 will be year of comedy gold

#60

Post by vorpalhex »

CryptoPunk wrote: post #27
vorpalhex wrote: post #23

Earlier quoted context omitted.

Yes, Bitcoin is excellent for money laundering.

So is cash. Being free from government control can be a lifeline for those living under repression or kafkaesque regulatory morass. This is what life is like for the less privileged under the anti-money laundering regime: https://www.reddit.com/r/MakerDAO/comments/de0sys/kyc_is_abs...

Why does KYC exist? Well, people were:

1. Engaging in human trafficking, which is really unfortunate for the poor and often non-white females who are being trafficked

2. Sponsoring terrorism, which sucks for the again young and often non-white females in schools that are being blown up, the women in markets getting shrapnel wounds, and the children losing parents

3. Funneling arms to terrorists, which allows them to resist police forces and continue forcing young people to be unwilling participants in the drug trade, prostitution and other pretty subpar life outcomes

So yes, it's really inconvient to have to deal with KYC and miss out on that sweet stock growth on foreign markets - I encourage your example to work with his local government to pass the appropriate laws to join the world economy.

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