Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2017-12-28, 10:43

I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed

2) Transaction fees are out of control, and there's exchange rates

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet.

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive.

5) The currency is way too volatile

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government.

8) The entire thing is a huge bubble

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Watch Out Pylon! on 2017-12-28, 10:59

steveschneider wrote:I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed

2) Transaction fees are out of control, and there's exchange rates

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet.

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive.

5) The currency is way too volatile

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government.

8) The entire thing is a huge bubble

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.


Pretty much all of this is accurate. My exposure is pretty limited right now. I took my money and ran.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Rocinante on 2017-12-28, 11:03

1) The entire thing is driven by greed

Knock, knock.

It's capitalism.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2017-12-28, 11:06

Rocinante wrote:
1) The entire thing is driven by greed

Knock, knock.

It's capitalism.

There's the old cliche money is the root of all evil.

Meet the new currency, same as the old currency.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by kingstonlake on 2017-12-28, 11:10

I find it hard to believe the that the "anti USD" is going to be replace the USD when it's purchased using the USD lol. But you can make money on idiots and speculation as long as you clear the blast radius before the bomb goes off.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2017-12-28, 11:13

kingstonlake wrote:I find it hard to believe the that the "anti USD" is going to be replace the USD when it's purchased using the USD lol. But you can make money on idiots and speculation as long as you clear the blast radius before the bomb goes off.

I think at the end of the day the banks will co-opt some of the elements of the bitcoin tech, house it on their own servers and make transactions more efficient as they take the lead on the cashless society.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by LooseGoose on 2018-01-02, 15:23


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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by InTenSity on 2018-01-02, 15:59

LooseGoose wrote:Monero? IS that the one to jump into now?

The Criminal Underworld Is Dropping Bitcoin for Another Currency
That's what I was thinking. Ethereum took a good jump over night. Doesn't look like I'll be buying back what I sold at a profit. I'll just hold on to my loan coin until I can cash out for a new bathroom.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-03, 01:07

I just bought some more LTC. It is lagging, it will catch up huge. Once BTC gets done with this consolidation and everyone cools their jets with the CBOE and CME futures shit, it is going to fly again and it will take everything else with it. I still think LTC should be >2K right now.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-03, 01:36

steveschneider wrote:I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed (LMMFAO, no shit Sherlock. So is the DOW, so is the NASDAQ, so is anything of this nature.)

2) Transaction fees are out of control, and there's exchange rates (kay, cool story bro. You can't withdraw money from an ATM without paying a fee. You can't go to a bank and buy Loonies for USDs without using an exchange rate. Why would you suppose that there isn't an "exchange rate" between USD and BTC or any other crypto currency???? I don't get this point at all...."there is an exchange rate!!!!" Oh! Fuck that! I'm out!!!! lol ok.)

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet. (I don't even know why you think this is a "point". Does China recognize bitcoin? lol, dunno..... it's 15K per coin, they prolly should recognize..... lol at this. China, guys!!!! They don't recognize Bitcoin! Get the fuck out!!!!! lmfao)

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive. (Regulated how? They're going to just cap it somehow? lol Please advise...... If someone can figure out how to "regulate" bitcoin, I'm sure there are a fuckload of world leaders ready to hear your new shark tank invention ASAFP.)

5) The currency is way too volatile (The "currency" is still in it's infancy and seeking out it's own supply v demand driven price v every fiat currency on the planet in the face of massive adoption. Also, volatility implies both lower lows as well as higher highs. All we have seen in the crypto universe is higher highs and higher lows recently, meaning the entire space is still seeking it's rightful and optimum "value" at which point you will see actual "volatility" = in both directions. You aren't seeing "volatility", you are seeing parabolic growth which requires pullbacks and consolidations before moving upwards and onward. We aren't experiencing "volatility" right now, we are experiencing a ramp in price with some pullbacks and consolidation.)

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at. (You don't use BTC to go buy milk or bread so who gives a fuck? Eventually you will carry around a device that you store your cryptos on and you will pay for your two carts of food at Meiger wirelessly in under a minute. Maybe give this a couple years to evolve rather than poo poo it??? IDK)

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government. (You probably have USD in your wallet right now with cocaine residue on it, FYI. You have probably also handled money this week that was involved in a marijuana transaction at some point. You have probably also handled cash this year that paid for sex illegally, or was involved in an illegal gambling wager. What is your fucking point with this one? LMMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)

8) The entire thing is a huge bubble. (Prove it. I disagree strongly.)

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.


Responses in parenthesis.... Why don't you provide a link to whatever dipshit you watched talk out of his ass on BTC. I'd love a good laff.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-03, 01:49


Rocinante wrote:
1) The entire thing is driven by greed

Knock, knock.

It's capitalism.


Knock, knock.  Bitcoin saved the lives of thousands and thousands of people in communist countries this past year you fucking idiot.  Look it up.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-03, 02:03

The Pantry wrote:
tTy wrote:

See the future, Nordy. Beeeee, the future.

Eventually people are going to LOL at your "dollars".
I think it far more likely people are going realize crypto is valueless and pull out in a catastrophic crash. The money is already gone. Will just take the last few hanging on until it disappears completely.

Been through this before playing penny stocks. Cryptocash is just another pump-and-dump. And, you're just another dick trying to pump it.

The fact that you admit to "playing penny stocks" pretty much tells me you have no fucking idea what you are talking about, but I already knew that. Good luck Pantry. I hope you see the light soon, I really do. I came looking for this thread almost a year ago hoping to waken some of you up, but a lot of you are salty as fuck and are too stupid to realize what is taking place here.

2018 is going to be 5 times more crazy than last year for cryptos. It is STILL just getting started. And it's not going away. This is so obvious to me, I am seriously shocked that there is so much resistance to this. It's fucking obvious as fuck.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Watch Out Pylon! on 2018-01-03, 08:10

tTy wrote:
Rocinante wrote:

Knock, knock.

It's capitalism.


Knock, knock.  Bitcoin saved the lives of thousands and thousands of people in communist countries this past year you fucking idiot.  Look it up.

"Look it up" is the laziest statement to make when arguing for or against something. You're the one trying to make a point, why don't you look it up and post it here? You're the one that is on his high horse trying to "educate" the dummies. Do your fucking job then.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2018-01-03, 08:26

tTy wrote:
steveschneider wrote:I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed (LMMFAO, no shit Sherlock. So is the DOW, so is the NASDAQ, so is anything of this nature.)

2) Transaction fees are out of control, and there's exchange rates (kay, cool story bro. You can't withdraw money from an ATM without paying a fee. You can't go to a bank and buy Loonies for USDs without using an exchange rate. Why would you suppose that there isn't an "exchange rate" between USD and BTC or any other crypto currency???? I don't get this point at all...."there is an exchange rate!!!!" Oh! Fuck that! I'm out!!!! lol ok.)

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet. (I don't even know why you think this is a "point". Does China recognize bitcoin? lol, dunno..... it's 15K per coin, they prolly should recognize..... lol at this. China, guys!!!! They don't recognize Bitcoin! Get the fuck out!!!!! lmfao)

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive. (Regulated how? They're going to just cap it somehow? lol Please advise...... If someone can figure out how to "regulate" bitcoin, I'm sure there are a fuckload of world leaders ready to hear your new shark tank invention ASAFP.)

5) The currency is way too volatile (The "currency" is still in it's infancy and seeking out it's own supply v demand driven price v every fiat currency on the planet in the face of massive adoption. Also, volatility implies both lower lows as well as higher highs. All we have seen in the crypto universe is higher highs and higher lows recently, meaning the entire space is still seeking it's rightful and optimum "value" at which point you will see actual "volatility" = in both directions. You aren't seeing "volatility", you are seeing parabolic growth which requires pullbacks and consolidations before moving upwards and onward. We aren't experiencing "volatility" right now, we are experiencing a ramp in price with some pullbacks and consolidation.)

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at. (You don't use BTC to go buy milk or bread so who gives a fuck? Eventually you will carry around a device that you store your cryptos on and you will pay for your two carts of food at Meiger wirelessly in under a minute. Maybe give this a couple years to evolve rather than poo poo it??? IDK)

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government. (You probably have USD in your wallet right now with cocaine residue on it, FYI. You have probably also handled money this week that was involved in a marijuana transaction at some point. You have probably also handled cash this year that paid for sex illegally, or was involved in an illegal gambling wager. What is your fucking point with this one? LMMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)

8) The entire thing is a huge bubble. (Prove it. I disagree strongly.)

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.


Responses in parenthesis.... Why don't you provide a link to whatever dipshit you watched talk out of his ass on BTC. I'd love a good laff.

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Nordic on 2018-01-03, 08:38

tTy wrote: I came looking for this thread almost a year ago hoping to waken some of you up, but a lot of you are salty as fuck and are too stupid to realize what is taking place here.


Solid sales techniques
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2018-01-03, 08:53

Nordic wrote:
tTy wrote: I came looking for this thread almost a year ago hoping to waken some of you up, but a lot of you are salty as fuck and are too stupid to realize what is taking place here.


Solid sales techniques

Doesn’t take skepticism well.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Tim Wakefield on 2018-01-03, 12:51

Back into LTC @ 246. I check this shit too much to not have a small stake

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Nordic on 2018-01-03, 15:18

steveschneider wrote:I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed

2) Transaction fees are out of control, and there's exchange rates

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet.

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive.

5) The currency is way too volatile

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government.

8) The entire thing is a huge bubble

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.


I'll take a stab at some of these as they are relevant/good questions. Note, I'm far from an expert, but this is what I've gathered. There is a ton of info out there on all of these topics.

1) China - I don't think any gov't backs it as it gives up control. The Chinese gov't is actively trying to kill it. But China has also been a hotbed of activity for cryptos. A lot of mining happens in China.

https://www.reuters.com/article/us-markets-bitcoin-china-mining/china-central-bank-can-tell-local-governments-to-regulate-bitcoin-miners-power-use-source-idUSKBN1ES0TD

https://news.bitcoin.com/the-bitcoin-exchange-that-once-dominated-china-is-heading-to-japan/

6) Transaction times - I'll jump to this one as it leads into the next one. This is a definitely a problem, in the here and now. It will never succeed if transaction times are not instantaneous. Remember how annoying the first chipped credit cards were when they came out 12 months ago? It took 3x as long to buy Wild Turkey from the corner store. And the problem will only get worse."The hash problems get exponentially harder, and every four years the size of the reward cuts in half." In other words, you'll need more computing power to make the same contribution to the blockchain, you will receive less BTC for doing so and it increases exponentially. The counter to this is, long term this will work itself out one way or another. We'll figure out more efficient ways to "mine" bitcoin/process transactions. Computing power doubles in relation to cost every 18 months (Moore's Law). The way BTC is being mined/transaction processed has also evolved greatly and will continue to do so. Or a new crypto that tackles this problem is born and becomes mainstream (see Bitcoin Cash, LTC, Ripple, etc.). I've said it before, I'm not convinced BTC will be the be all end all crypto. It was the first, the tech behind it is ground breaking, it is the most recognized and used, but it has it's warts. The scale and transaction times are the biggest threat to BTC IMO.  This is a really good read...

https://www.wired.com/story/bitcoin-global-warming/

2) Transaction Fees - First off you are paying a fee now with your credit card. It is just baked into the price of the goods you are buying. So this issue can be tackled. However, feeding of the above, the more you mine/process transactions the less BTC you get over time. Also, BTC is finite. Miners get rewarded for processing transactions/mining with BTC and transaction fees. So at some point your reward for mining diminishes. From the link above, 99% of the BTC will be mined by 2032. I've also read that the last BTC will be mined in 2140. In a nutshell, miners will no longer receive (or receive very little) BTC and transaction fees will be the only thing miners will get for processing transactions. Increased transaction fees has the potential to cripple mining/transactions. The solution? Same as #6. It needs to evolve. Whether it is through processing power, the "Lightning Network" (see the last two links below), a new crypto or by some other means. Nobody really knows yet. It is all still very new. This whole segment is evolving and there will be major casualties. But to say it can't be done or solved, I would disagree.

https://www.cnbc.com/2017/12/19/big-transactions-fees-are-a-problem-for-bitcoin.html

http://www.newsbtc.com/2017/12/14/bitcoin-transaction-fees-keep-doubling-nearly-every-three-months/

https://www.forbes.com/sites/ktorpey/2017/12/31/why-bitcoins-price-has-continued-to-rise-in-the-face-of-high-transaction-fees/#5381f90f29da

https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/

Did I answer your questions and make you feel all warm and fuzzy? Nope. To dismiss these questions is pretty foolish. They are legit questions and concerns. But to dismiss cyrptos as a fade because all of the solutions are not on the table yet, is probably equally as foolish. Right now it is all speculative on how it will play out in the end and this is being shown in the wild market swings.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2018-01-03, 15:49

Nordic wrote:
steveschneider wrote:I finally watched a doc on Bitcoin to learn more about the big idea of this new currency and to get a sense of where it is all headed.

I'm more cynical than ever.

1) The entire thing is driven by greed

2) Transaction fees are out of control, and there's exchange rates

3) Does china recognize Bitcoin? I don't think they do. I don't buy it that cyber currencies will be the one true currency for the entire planet.

4) Sooner or later it is going to get regulated - the people that think it is going to undermine the fed, and banking system are naive.

5) The currency is way too volatile

6) Some of the transactions take 15 minutes to complete and in that time who knows what the value of this currency will be at

7) Bitcoin is linked to money laundering, drug dealing and potentially terrorism. The bitcoin pioneers scoff at this, but they stand behind the founder of Silkroad and Charlie Schrem knowingly funneled cash to facilitate criminal activity. I don't trust a lot of the people involved with lifting this currency up and they are just as corrupt or more corrupt than our government.

8) The entire thing is a huge bubble

I sincerely hope everyone makes money on this but in my view sooner or later the house of cards is going to come tumbling down.


I'll take a stab at some of these as they are relevant/good questions. Note, I'm far from an expert, but this is what I've gathered. There is a ton of info out there on all of these topics.

1) China - I don't think any gov't backs it as it gives up control. The Chinese gov't is actively trying to kill it. But China has also been a hotbed of activity for cryptos. A lot of mining happens in China.

https://www.reuters.com/article/us-markets-bitcoin-china-mining/china-central-bank-can-tell-local-governments-to-regulate-bitcoin-miners-power-use-source-idUSKBN1ES0TD

https://news.bitcoin.com/the-bitcoin-exchange-that-once-dominated-china-is-heading-to-japan/

6) Transaction times - I'll jump to this one as it leads into the next one. This is a definitely a problem, in the here and now. It will never succeed if transaction times are not instantaneous. Remember how annoying the first chipped credit cards were when they came out 12 months ago? It took 3x as long to buy Wild Turkey from the corner store. And the problem will only get worse."The hash problems get exponentially harder, and every four years the size of the reward cuts in half." In other words, you'll need more computing power to make the same contribution to the blockchain, you will receive less BTC for doing so and it increases exponentially. The counter to this is, long term this will work itself out one way or another. We'll figure out more efficient ways to "mine" bitcoin/process transactions. Computing power doubles in relation to cost every 18 months (Moore's Law). The way BTC is being mined/transaction processed has also evolved greatly and will continue to do so. Or a new crypto that tackles this problem is born and becomes mainstream (see Bitcoin Cash, LTC, Ripple, etc.). I've said it before, I'm not convinced BTC will be the be all end all crypto. It was the first, the tech behind it is ground breaking, it is the most recognized and used, but it has it's warts. The scale and transaction times are the biggest threat to BTC IMO.  This is a really good read...

https://www.wired.com/story/bitcoin-global-warming/

2) Transaction Fees - First off you are paying a fee now with your credit card. It is just baked into the price of the goods you are buying. So this issue can be tackled. However, feeding of the above, the more you mine/process transactions the less BTC you get over time. Also, BTC is finite. Miners get rewarded for processing transactions/mining with BTC and transaction fees. So at some point your reward for mining diminishes. From the link above, 99% of the BTC will be mined by 2032. I've also read that the last BTC will be mined in 2140. In a nutshell, miners will no longer receive (or receive very little) BTC and transaction fees will be the only thing miners will get for processing transactions. Increased transaction fees has the potential to cripple mining/transactions. The solution? Same as #6. It needs to evolve. Whether it is through processing power, the "Lightning Network" (see the last two links below), a new crypto or by some other means. Nobody really knows yet. It is all still very new. This whole segment is evolving and there will be major casualties. But to say it can't be done or solved, I would disagree.

https://www.cnbc.com/2017/12/19/big-transactions-fees-are-a-problem-for-bitcoin.html

http://www.newsbtc.com/2017/12/14/bitcoin-transaction-fees-keep-doubling-nearly-every-three-months/

https://www.forbes.com/sites/ktorpey/2017/12/31/why-bitcoins-price-has-continued-to-rise-in-the-face-of-high-transaction-fees/#5381f90f29da

https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/

Did I answer your questions and make you feel all warm and fuzzy? Nope. To dismiss these questions is pretty foolish. They are legit questions and concerns. But to dismiss cyrptos as a fade because all of the solutions are not on the table yet, is probably equally as foolish. Right now it is all speculative on how it will play out in the end and this is being shown in the wild market swings.

Give me some time to go through this and I'll respond. I appreciate the thoughtful response.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Other Teams Pursuing That on 2018-01-03, 17:20

I liked Ty’s response better.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:37

ETH pushing a grand.

BTC and LTC not losing hardly any traction after enormous buildups.

They are all going higher.

I don't really have time to debate you guys, I'm just telling you the truth.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:42

steveschneider wrote:
tTy wrote:

Responses in parenthesis.... Why don't you provide a link to whatever dipshit you watched talk out of his ass on BTC. I'd love a good laff.

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.
steveschneider wrote:
tTy wrote:

Responses in parenthesis.... Why don't you provide a link to whatever dipshit you watched talk out of his ass on BTC. I'd love a good laff.

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.

OK, I'll debate this one...

There is no apparent advantage to switching to bitcoin, except for the fact that it is outpacing the value of the dollars in your wallet at an ever increasing rate and it's not going to stop for a long time. It may be a bubble, but it is not yet any where near ready to pop, and so if you can convert your shitty USD to BTC and let it grow before the burst, then you gain bigly. Otherwise, you sit there, in perpetuity, and gain nothing. Your choice. Good luck.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:47

Watch Out Pylon! wrote:
tTy wrote:



Knock, knock.  Bitcoin saved the lives of thousands and thousands of people in communist countries this past year you fucking idiot.  Look it up.

"Look it up" is the laziest statement to make when arguing for or against something. You're the one trying to make a point, why don't you look it up and post it here? You're the one that is on his high horse trying to "educate" the dummies. Do your fucking job then.

I don't care if you are too lazy to figure it out. I am doing "my job" by giving you a heads up. You are fucking welcome. Suck my dick if you don't want to do the leg work, that is on you. Look it up.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:49

Tim Wakefield wrote:Back into LTC @ 246. I check this shit too much to not have a small stake

I'm a buyer here... as much as I can.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:50

steveschneider wrote:
Nordic wrote:

I'll take a stab at some of these as they are relevant/good questions. Note, I'm far from an expert, but this is what I've gathered. There is a ton of info out there on all of these topics.

1) China - I don't think any gov't backs it as it gives up control. The Chinese gov't is actively trying to kill it. But China has also been a hotbed of activity for cryptos. A lot of mining happens in China.

https://www.reuters.com/article/us-markets-bitcoin-china-mining/china-central-bank-can-tell-local-governments-to-regulate-bitcoin-miners-power-use-source-idUSKBN1ES0TD

https://news.bitcoin.com/the-bitcoin-exchange-that-once-dominated-china-is-heading-to-japan/

6) Transaction times - I'll jump to this one as it leads into the next one. This is a definitely a problem, in the here and now. It will never succeed if transaction times are not instantaneous. Remember how annoying the first chipped credit cards were when they came out 12 months ago? It took 3x as long to buy Wild Turkey from the corner store. And the problem will only get worse."The hash problems get exponentially harder, and every four years the size of the reward cuts in half." In other words, you'll need more computing power to make the same contribution to the blockchain, you will receive less BTC for doing so and it increases exponentially. The counter to this is, long term this will work itself out one way or another. We'll figure out more efficient ways to "mine" bitcoin/process transactions. Computing power doubles in relation to cost every 18 months (Moore's Law). The way BTC is being mined/transaction processed has also evolved greatly and will continue to do so. Or a new crypto that tackles this problem is born and becomes mainstream (see Bitcoin Cash, LTC, Ripple, etc.). I've said it before, I'm not convinced BTC will be the be all end all crypto. It was the first, the tech behind it is ground breaking, it is the most recognized and used, but it has it's warts. The scale and transaction times are the biggest threat to BTC IMO.  This is a really good read...

https://www.wired.com/story/bitcoin-global-warming/

2) Transaction Fees - First off you are paying a fee now with your credit card. It is just baked into the price of the goods you are buying. So this issue can be tackled. However, feeding of the above, the more you mine/process transactions the less BTC you get over time. Also, BTC is finite. Miners get rewarded for processing transactions/mining with BTC and transaction fees. So at some point your reward for mining diminishes. From the link above, 99% of the BTC will be mined by 2032. I've also read that the last BTC will be mined in 2140. In a nutshell, miners will no longer receive (or receive very little) BTC and transaction fees will be the only thing miners will get for processing transactions. Increased transaction fees has the potential to cripple mining/transactions. The solution? Same as #6. It needs to evolve. Whether it is through processing power, the "Lightning Network" (see the last two links below), a new crypto or by some other means. Nobody really knows yet. It is all still very new. This whole segment is evolving and there will be major casualties. But to say it can't be done or solved, I would disagree.

https://www.cnbc.com/2017/12/19/big-transactions-fees-are-a-problem-for-bitcoin.html

http://www.newsbtc.com/2017/12/14/bitcoin-transaction-fees-keep-doubling-nearly-every-three-months/

https://www.forbes.com/sites/ktorpey/2017/12/31/why-bitcoins-price-has-continued-to-rise-in-the-face-of-high-transaction-fees/#5381f90f29da

https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/

Did I answer your questions and make you feel all warm and fuzzy? Nope. To dismiss these questions is pretty foolish. They are legit questions and concerns. But to dismiss cyrptos as a fade because all of the solutions are not on the table yet, is probably equally as foolish. Right now it is all speculative on how it will play out in the end and this is being shown in the wild market swings.

Give me some time to go through this and I'll respond. I appreciate the thoughtful response.

LMAO

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 22:58

steveschneider wrote:
tTy wrote:

Responses in parenthesis.... Why don't you provide a link to whatever dipshit you watched talk out of his ass on BTC. I'd love a good laff.

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.

Also, and AGAIN, please provide a link to whatever the hell it was you "watched".... I'd LOVE to see it. I'm not against listening to a reasonable counter argument...

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by tTy on 2018-01-04, 23:18

OK, I'm out for a while. I'll check back in on you stupid asses in June when this has all blown the fuck up. I hope you guys have found some balls and bought some of this shit and held it. You will make a lot of "money", but the fact is, you don't like me, and I don't really like coming over here anyways, so go fuck yourselves. So, regardless, you are all welcome for the heads up I gave you for, like, 10 months. If you didn't take advantage of it, then you are a fucking idiot. If you did, you are welcome. Good luck, ass wipes. See you on June first.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Other Teams Pursuing That on 2018-01-04, 23:20

love this thread.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Watch Out Pylon! on 2018-01-04, 23:24

tTy wrote:
Watch Out Pylon! wrote:

"Look it up" is the laziest statement to make when arguing for or against something. You're the one trying to make a point, why don't you look it up and post it here? You're the one that is on his high horse trying to "educate" the dummies. Do your fucking job then.

I don't care if you are too lazy to figure it out. I am doing "my job" by giving you a heads up. You are fucking welcome. Suck my dick if you don't want to do the leg work, that is on you. Look it up.

Nah. I try to stay away from i'mafuckingwhackadooconspiracyguy.com sites.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Nordic on 2018-01-04, 23:56

Other Teams Pursuing That wrote:I liked Ty’s response better.

Buy more ETH and grab a brownie brah
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Other Teams Pursuing That on 2018-01-05, 00:06

Nordic wrote:
Other Teams Pursuing That wrote:I liked Ty’s response better.

Buy more ETH and grab a brownie brah

I fucked up and bought LTC, and then all my friends told me I should have bought ETC. Here we are.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Nordic on 2018-01-05, 00:09

Other Teams Pursuing That wrote:
Nordic wrote:

Buy more ETH and grab a brownie brah

I fucked up and bought LTC, and then all my friends told me I should have bought ETC. Here we are.

Get both. It's like Indica vs. Sativa. Both have a purpose.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Other Teams Pursuing That on 2018-01-05, 00:42

Nordic wrote:
Other Teams Pursuing That wrote:

I fucked up and bought LTC, and then all my friends told me I should have bought ETC. Here we are.

Get both. It's like Indica vs. Sativa. Both have a purpose.

This is my message to you Nordic ... don’t worry .. bout a thing ...
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by steveschneider on 2018-01-05, 07:15

tTy wrote:
steveschneider wrote:

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.

Also, and AGAIN, please provide a link to whatever the hell it was you "watched".... I'd LOVE to see it. I'm not against listening to a reasonable counter argument...

It was the documentary on Netflix. I forget the title but it should pop right up. It was pretty neutral and was just informative.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by Watch Out Pylon! on 2018-01-05, 08:10

tTy wrote:
steveschneider wrote:

Thanks for your reply.
All you did is further convince me there’s no reason to convert usd to crypto currency. As I said in another post meet the new currency same as the old currency. There is no apparent advantage to switching to bitcoin.

Also, and AGAIN, please provide a link to whatever the hell it was you "watched".... I'd LOVE to see it. I'm not against listening to a reasonable counter argument...

I don't care if you are too lazy to figure it out. I am doing "my job" by giving you a heads up. You are fucking welcome. Suck my dick if you don't want to do the leg work, that is on you. Look it up.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by kingstonlake on 2018-01-05, 08:43

The crypto i was keeping an eye on is up from .03 to .25 in the last two weeks lol.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by LooseGoose on 2018-01-05, 10:02

kingstonlake wrote:The crypto i was keeping an eye on is up from .03 to .25 in the last two weeks lol.

Did you buy $1M at $0.03?

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by kingstonlake on 2018-01-05, 10:08

LooseGoose wrote:
kingstonlake wrote:The crypto i was keeping an eye on is up from .03 to .25 in the last two weeks lol.

Did you buy $1M at $0.03?

I wish, lol. I was gonna jump in with a grand but these fly by night data collectors like coinbase, kracken, gemini, etc wont confirm identities.
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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by LooseGoose on 2018-01-06, 17:39

From ZeroHedge:

2018 In Crypto - 11 Predictions

Cryptocurrency market observers will remember 2017 as the year of the ICO boom, bitcoin’s hard fork(s), cryptokitties, a few major hacks, and the time when every single dinner party swayed towards talking about the price of bitcoin at some point or another. Instead of looking at what just passed, today we’re looking at the year that awaits us.

As we reflect on the past year, we see a number possible trends that will affect the market in 2018.

Here are our predictions for the year to come:

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Post by LooseGoose on 2018-01-08, 17:28

A Crypto Website Changes Its Data, and $100 Billion in Market Value Vanishes

Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.

A website called coinmarketcap.com on Monday removed data from some South Korean exchanges from its price quotes for a range of virtual currencies including bitcoin, Ethereum and Ripple’s XRP. The move followed a South Korean government crackdown on cryptocurrencies.

The move by coinmarketcap caused some amount of chaos when prices across the board suddenly plunged. In mid-Monday trading, XRP had fallen 26% over the past 24 hours, Bitcoin Cash was down 18%, and litecoin was down 12%. Of the top 40 cryptocurrencies, 31 were down, including bitcoin and Ethereum.

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Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

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