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Bitcoin, I've Been Here Before

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Re: Bitcoin, I've Been Here Before

#71

Post by therein »

nkrisc wrote: post #51
saalweachter wrote: post #40

Earlier quoted context omitted.

I will say, as a Bitcoin "hater", Bitcoin is far more resilient than many things it might be compared to. With Pets.com or Leheman Brothers, there was a corporate structure that could stop existing. It could go bankrupt, the C-executives could be arrested, something could happen beyond which it'd be fair to say it was over. With Bitcoin, you could have all of the exchanges go defunct, you could have 99% of the miners…

Or just continue on being useful to a small fraction of people. It doesn't have to be this massive market.

In case of a massive and rapid reduction in the number of miners and therefore the network hashrate, it would take Bitcoin network difficulty too long to adjust to be useful in short term.

Re: Bitcoin, I've Been Here Before

#72

Post by moneytide1 »

cat199 wrote: post #67
moneytide1 wrote: post #32

Bitcoin will be more relevant soon because there is exponentially more gold/silver/platinum/uranium in the solar system than on Sol-3. It would be silly to ship in paper every 2 years so people could trade "cash" while working at the methane harvesters and excavators. Just keep that price constant and we can finally move forward.

Totally. My perceptics rundown indicates that the real thetans are moving things forward to clear the planet with heavy upstat bitcoin momentum. Mining coin helps me to audit my preclears and be a more on-source being. Either that or I've been reading too much sci fi. Not sure which. Xenu knows!! :D :D

Sci fi is not fiction, it is theory.

Re: Bitcoin, I've Been Here Before

#73

Post by Fnoord »

HenryBemis wrote: post #13
smokeyj wrote: post #7

Earlier quoted context omitted.

But you can also pay $50 on a $5 transaction. LN existing on testnet has no bearing on the real world. Who wants to tie up $50 to open a channel and $50 to close it? Small blockers are kidding themselves.

But why would someone pay $50 for a $5 transaction? A criminal perhaps to stay under the radar. A sensible person would go for the cash option and pay $5 for $5. If on the other hand someone was to launder money ;) then still the fee is tooo large to launder petty cash (pay 55 dirty to get 5 clean). An efficient money laundering rate is anything north of 50% (100 dirty --> 50-70 clean).

> An efficient money laundering rate is anything north of 50% (100 dirty --> 50-70 clean).

That's supported by what I read in "Kingpin: How One Hacker Took Over the Billion-Dollar Cybercrime Underground" by Kevin Poulsen. Book's about Max Butler alias Iceman who ended up as in the higher echelon as vital gear of a carding gang. They'd have people who'd shop and resell the items instantly, as if new. The shoppers also need to get paid, obviously.

Blockchain's entirely public, so Bitcoin is terrible for money laundering. Not any better than USD.

Monero is apparently anonymous though. Though I take the term anonymous with a huge grain of salt since its always a relative term, not an absolute binary flag.

Re: Bitcoin, I've Been Here Before

#75

Post by drizzzler »

brucephillips wrote: post #57
drizzzler wrote: post #54

Earlier quoted context omitted.

This has nothing to do with the parent.

It does. There's little point it debating which currency or index of currencies to analyze, when none of them are showing significant traction as a currency.

The parent comment says nothing about the validity of "it being a currency"..this is an argument the child brings up just to Bitcoin hate. And it's a 'beat the drum' comment, same as the "it's like tulips/.com" that the parent is tired of hearing.

And, it's not the point of every cryptocoin to be a currency, whatever may be your definition of a currency.

This forum is so dumb now.

Re: Bitcoin, I've Been Here Before

#76

Post by stale2002 »

pmlnr wrote: post #61
stale2002 wrote: post #12

Earlier quoted context omitted.

Merchant adoption for bitcoin cash is increasing very quickly. You can indeed pay for things with bitcoin cash, and as soon at bitpay adds it to their platform (Which they are working on and will do so very soon), the merchant adoption rate will actually be higher than the bitcoin adoption rate. And all of this was done in only a couple months.

Examples, citation, please. I do not see 'merchants' accepting BCH when I try to buy food.

I'd love to!

https://acceptbitcoin.cash

All within a couple months. And this isn't even including all the merchants to come when bitpays adds support in 2 months. It will be more than bitcoin once that happens.

Re: Bitcoin, I've Been Here Before

#79

Post by goldpineapple »

CryoLogic wrote: post #48
etr-strike wrote: post #42

Earlier quoted context omitted.

Way to pimp your altcoin at the end there. IOTA isn’t even in the same league as bitcoin. It’s not decentralized and it’s not trustless. Just use SQL at that point...

Those points are not accurate. IOTA uses the coordinator as a security measure right now (against 34% attacks) and will be removed once the coin is distributed enough to diminish probability of attacks. So saying it is not decentralized isn't honest. Without the coordinator it is decentralized. Point two is also refuted once the coordinator is gone.

Opinions on Streamr v Iota?
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