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notevenrealguy posted:Because if you were to make a decision to buy one of those Bitcoins that young people talk about now instead of during the middle of December 2017 you would be about $15,000 less in the hole lol. Is the best time to play roulette after the ball hits double-zero twice in a row because you would theoretically make more money than if you had invested earlier in the day?
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Also blockchain-based voting has already been tried a couple times, notably in West Virginia and Sierra Leone. Every time it's been attempted it has been completely riddled with problems. Most modern western non-American banks have been doing free or cheap digital money transfers for over a decade, to the point where a major bank in my country investigated whether it would be worth it to make their own digital blockchain and decided it wasn't. Bitcoin can't even come close to boasting "free or cheap" about its digital money transfers anymore, and I dunno how many cryptos out there actually can. Either way, BTC will never see wide adoption for the same reason other cryptos won't - why would a major bank use a currency that has been pre-mined? Just because the guy who pre-mined BTC is some mysterious shadow doesn't make it any different than LTC or namecoin (remember namecoin? probably fuckin not)
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Nov 25, 2018 08:16
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blockchain is an absolutely garbage database structure for everything that isnt an outright horrible idea to begin with
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Nov 25, 2018 08:19
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Salt Fish posted:Is the best time to play roulette after the ball hits double-zero twice in a row because you would theoretically make more money than if you had invested earlier in the day? No, but the gambler's fallacy refers to false understandings of probability, and it doesn't really have a place when talking about valued assets changing in price. But once again, no I would not invest in cryptocurrency right now, and no I would not play the most boring casino game with false notions. Ad by Khad posted:namecoin (remember namecoin? probably fuckin not) Yeah lol, I remember a whole lot of stupid poo poo. notevenrealguy fucked around with this message at 08:26 on Nov 25, 2018 |
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Nov 25, 2018 08:23
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I wonder what Bruce is up to these days, on seconds thoughts, I don't think I want to know.
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Nov 25, 2018 09:00
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I would blow Dane Cook posted:I wonder what Bruce is up to these days, on seconds thoughts, I don't think I want to know. It's very weird visiting bitcointalk these days.
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Nov 25, 2018 09:13
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gary oldmans diary posted:blockchain is an absolutely garbage database structure for everything that isnt an outright horrible idea to begin with Not to mention the sheer loving waste of energy and spike in emissions it all was. It’s like running 1/100th of the Visa network on backyard, 1960’s-era 2-stroke generators while just burning down a random forest for shits n’ giggles each month. It’s literally the worst possible solution to any question in any way.
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Nov 25, 2018 09:41
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Ripoff posted:Not to mention the sheer loving waste of energy and spike in emissions it all was. It’s like running 1/100th of the Visa network on backyard, 1960’s-era 2-stroke generators while just burning down a random forest for shits n’ giggles each month. I mean it's a bad answer to that one too, but it was theoretically possible to work.
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Nov 25, 2018 09:44
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Didn't we just break the mining profit wall? I thought it was 3500
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Nov 25, 2018 11:27
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Photex posted:Didn't we just break the mining profit wall? I thought it was 3500 You can safely say that $3,500 is not making anyone profit at the current difficulty. Even with cheap electricity.  $3,500, next stop ZERO. Looks like my prediction was a little off. It'll die even before 2019. Risc1911 fucked around with this message at 11:47 on Nov 25, 2018 |
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Nov 25, 2018 11:29
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notevenrealguy posted:Because if you were to make a decision to buy one of those Bitcoins that young people talk about now instead of during the middle of December 2017 you would be about $15,000 less in the hole lol. ... What? The price of the individual Bitcoin is irrelevant. If you invest (lol) $10K, it doesn't matter if it buys you half a BTC, one BTC or one thousand BTC. Sure, you could argue that the higher the price, the further it can fall - but if it went to 0.001, you'd have lost pretty much everything either way.
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Nov 25, 2018 11:48
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lol it went up $500 in less than 5 minutes some exchange is trying desperately to stop the crash someone please explain to me how this isn't just incredibly overcomplicated stupid gambling
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Nov 25, 2018 12:04
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It's actually a sound and smart investment, because
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Nov 25, 2018 12:12
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 It's already dropping back down again 
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Nov 25, 2018 12:16
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Lolie posted:It's very weird visiting bitcointalk these days. yikes 
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Nov 25, 2018 12:19
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r u ready to WALK posted:lol it went up $500 in less than 5 minutes
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Nov 25, 2018 12:27
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r u ready to WALK posted:
With gambling, the House always wins. With Bitcoin, the House eventually loses its shirt as well due to massive incompetence or fraud.
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Nov 25, 2018 12:32
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Its gonna be $200 in a month then a slow decline to worthless.
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Nov 25, 2018 12:35
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https://twitter.com/officialmcafee/status/1066545279095193601
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Nov 25, 2018 12:40
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all I know is when McAfee gets hacked to death with a machete his last words will be "The Horror, The Horror..."
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Nov 25, 2018 12:45
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Value is stored in
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Nov 25, 2018 12:54
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Alan Smithee posted:all I know is when McAfee gets hacked to death with a machete his last words will be "The Horror, The Horror..." https://twitter.com/officialmcafee/status/1066660682362511360
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Nov 25, 2018 12:55
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Did he eat his own dick yet?
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Nov 25, 2018 13:38
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metaphorically
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Nov 25, 2018 13:47
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Two weeks ago when it was still over 6k I saw someone at work looking at the price of butts so I told them they were being stupid and to sell those things immediately because that poo poo's going down any second now. They said "no man it's gonna go up guaranteed" Welp
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Nov 25, 2018 14:03
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numberoneposter posted:Its gonna be $200 in a month then a slow decline to worthless. the one real use case for all the coins are darknet transactions and people doing them don't even care about the exchange value of the coins. they convert their real money into coins and the seller converts them back to real dollars asap, nobody in that chain cares if a coin is $1 or $100000. even the miners are just gonna start covering their bills through transaction costs instead of mining rewards. nobody but the "investors" should care about the exchanges and holy poo poo if you invested into something that has an intrinsic value of literally $0
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Nov 25, 2018 14:12
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that's the thing about tulips even if you paid $10,000 a bulb and now they're worthless, at least you have some pretty flowers what the gently caress are you going to do with a bitcoin
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Nov 25, 2018 14:23
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is it time to buy? and where are the gpu firesales?
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Nov 25, 2018 14:25
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Raspberry Jam It In Me posted:the one real use case for all the coins are darknet transactions and people doing them don't even care about the exchange value of the coins. they convert their real money into coins and the seller converts them back to real dollars asap, nobody in that chain cares if a coin is $1 or $100000. even the miners are just gonna start covering their bills through transaction costs instead of mining rewards. nobody but the "investors" should care about the exchanges and holy poo poo if you invested into something that has an intrinsic value of literally $0 This still requires there to be exchanges of some sort, and miners - if your pog exchange takes days, or if no one is willing to back the value of those pogs, then this method kinda collapses, doesn't it?
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Nov 25, 2018 14:32
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poverty goat posted:is it time to buy? and where are the gpu firesales? Speaking of GPUs I hope they come back down to reality in prices. Not just miners dumping a million of them on the used market but the manufacturers realizing they can't just charge loving thousands for a new model every time. Nvidia is still sitting on their huge backlog of unsold last years cards that they are still trying to sell for 4x the price they should be.
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Nov 25, 2018 14:35
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All this could have been avoided if Bitcoin ran on Linux.
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Nov 25, 2018 15:00
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Rectal Death Adept posted:Speaking of GPUs I hope they come back down to reality in prices. Not just miners dumping a million of them on the used market but the manufacturers realizing they can't just charge loving thousands for a new model every time. Nvidia is still sitting on their huge backlog of unsold last years cards that they are still trying to sell for 4x the price they should be. Trump is here to help you out with his tariffs on that one.
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Nov 25, 2018 15:03
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Pochoclo posted:This still requires there to be exchanges of some sort, and miners - if your pog exchange takes days, or if no one is willing to back the value of those pogs, then this method kinda collapses, doesn't it? The miners were always meant to cover the costs of running this whole mess through transaction costs sooner or later. Bitcoin falling to $0.01 now would just mean that it happens a year or two sooner than planned. At that point they shouldn't care about the exchange values as long as there is enough demand for transactions. Right now, there is probably not enough of it to sustain this whole shitshow so lots of miners will have to drop out I guess the exchanges are somewhat useful for buying drugs, but still, nobody should care about the price. It doesn't matter if the coin is $1000 or $0.01 if you make a Dollar to Dollar transaction. e: the exchanges live from transaction costs too, like real stock exchanges. the New York stock exchange isn't backed by the price of apple stocks GABA ghoul fucked around with this message at 15:09 on Nov 25, 2018 |
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Nov 25, 2018 15:06
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r u ready to WALK posted:lol it went up $500 in less than 5 minutes There are rules and safeguards in place to stop the house from cheating you when you gamble.
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Nov 25, 2018 15:07
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Mozi posted:that's the thing about tulips Same as tulips - use them to woo women
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Nov 25, 2018 15:17
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bitcoin, the most potent contraceptive known to man
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Nov 25, 2018 15:20
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ocrumsprug posted:There are rules and safeguards in place to stop the house from cheating you when you gamble.
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Nov 25, 2018 15:22
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notevenrealguy posted:No, but the gambler's fallacy refers to false understandings of probability, and it doesn't really have a place when talking about valued assets changing in price. how much have you lost
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Nov 25, 2018 15:24
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Raspberry Jam It In Me posted:The miners were always meant to cover the costs of running this whole mess through transaction costs sooner or later. Bitcoin falling to $0.01 now would just mean that it happens a year or two sooner than planned. At that point they shouldn't care about the exchange values as long as there is enough demand for transactions. Right now, there is probably not enough of it to sustain this whole shitshow so lots of miners will have to drop out Does bitcoin stop working if everyone stops mining? Is it basically Bittorrent?
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Nov 25, 2018 15:25
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Warm und Fuzzy posted:Does bitcoin stop working if everyone stops mining? Is it basically Bittorrent? Yes except instead of sharing pirated games, anime and porn, they’re sharing delusion and scams
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Nov 25, 2018 15:30
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