A Glimpse into the Future of Bitcoin

[Carepolice]

is this your way of promoting crypto currency

My thoughts exactly.

ITT: OP buys a bunch of coins, then tries to create hype to turn a profit. Oh, if only that were original.

 

[Toz]

My thoughts exactly.

ITT: OP buys a bunch of coins, then tries to create hype to turn a profit. Oh, if only that were original.

Nope. I actually only own .05 BTC, which I'll be converting into something else, as soon as I get to my hotel.

 

[skinnyboi]

Can't tell if this is madness
or Sparta

 

[adambaumb]

lol , seriously you need some medical help.

i have manipulate peer to peer torrents many times , and i am a noob hacking.
if a hacker can hack and steal bitcoins then why not owner ?

just think how much money us govt spends on making dollar safe so that people can not copy it.

can bitcoin maker spend so much money on making it safe ? if yes then from where will he get that money ?

it's biggest back drawback "all transitions are controlled by a server"
it's something like a tracker of torrents , coins are tracker by a online tracker and manipulating it is not easy but also not impossible.



-=-

Kid, it's quite obvious how clueless you are. It's no shame of being dumb (at least you can learn and improve), but preaching while you are certainly is.

Your No. 1 Broken Fallacy -> Government make $ safe, bitcoin owner cannot make bitcoin safe
Government spend money to make it safe? Lel. 1-2 % of dollar bills are counterfeit. Bitcoins cannot be counterfeited. You can make your own coin and call it something, but you cannot counterfit a bitcoin. You can try tho, you seem kinda professionel since you hacked a torrent once

Your No. 2 Broken Fallacy -> Biggest drawback is that all is controlled by 1 server?
WT*? One of the main features of bitcoin is decentralization. All transactions are spread across 100s of thousands of computers / servers / cpu farms. Where do you even get this incredible misinformation from?

Your No. 3 Broken Fallacy -> US could launch a better coin
NO, you would have to be an idiot to buy US crypto instead of bitcoin, why? US coin would be centralized, reversable, seizable and will have inflation, but go ahead.

Your No. 4 Broken Fallacy -> You can manipulate the global ledger
Not even with 51 percent of the computing power would you be able to manipulate it. To manipulate a transaction, you would have to replace the public ledger to your faked one, on every single computer contributing to the bitcoin network, within 10 minutes, aka 600 seconds.

Obviously, I would educate myself before spreading bullshit next time if I were you.

Attached thumbnail where I've cut out the difference between the money protected by hungry lying scamming politicians and money protected by the laws of math..

 

[adambaumb]

and businesses will suddenly begin accepting these files I just created even though they have no logical reason to do so.

that is wrong, there are plenty of logical reasons to accept bitcoin over fiat, in fact- that is all there is. It's cheaper ($0,005 transaction fee), easier (get paid same day) and safer (no chargebacks) to receive as a merchant.

 

[Toz]

It's peoples' own fault for still using MTGox. They have had prices so much lower than market-value. That's a red flag, for me. Plus, they'd already been "hacked"

 

[bartosimpsonio]

It's peoples' own fault for still using MTGox. They have had prices so much lower than market-value. That's a red flag, for me. Plus, they'd already been "hacked"

At one point the MtGox login and passwords were passed around in the query string - with browsers that phone home every URL like Google Chrome just imagine the security implications of this.

 

[StraussCan]

Your prediction is as worthless as traffic lights in GTA tbh. Govts such as USA, of the world aren't fool to kill its currencies for a digital one. I do not indulge in this crypto coin shite.

For me nothing beats the robustness and the feel of a dollar bill. #ONLY-GENTLEMAN-THINGS

 

[StraussCan]

At one point the MtGox login and passwords were passed around in the query string - with browsers that phone home every URL like Google Chrome just imagine the security implications of this.

I am a pen tester myself. So, when that shite gets in to the hands of NSA, the whole crypto coin shite is toast as a fucking fried chicken.

 

[Toz]

Comparing the validity of my hypothesis of the continued growth of an already established, global currency, to traffic lights in a fucking PlayStation 2 game? Seriously?
Stay in school, kid.

Your prediction is as worthless as traffic lights in GTA tbh. Govts such as USA, of the world aren't fool to kill its currencies for a digital one. I do not indulge in this crypto coin shite.

For me nothing beats the robustness and the feel of a dollar bill. #ONLY-GENTLEMAN-THINGS

 

[StraussCan]

Comparing the validity of my hypothesis of the continued growth of an already established, global currency, to traffic lights in a fucking PlayStation 2 game? Seriously?
Stay in school, kid.

It's gonna die soon tbh. Do u really think US would let it blow up against their dollar. NO. Federal govt will stuff burritos in the ass of everyone who goes up against $$. Nuff said.

 

[euros123dotcom]

Read through all your answers. Interesting stuff and thoughts. Here is my take and also some questions to Crypto Pro's out there.

First. I do think that "things" (Gold, Dollar, Houses, BitCoins, etc.) get their value in an artificial form from the user base. NOTHING has intrinsic value. Not even Gold. If I'm in the desert and thirsty, I will value water over
Gold. Matter of fact, I don't understand preppers or dooms-day-guys. If they knew a bit about history they would
know that Gold or Gems or whatever value you have during a real crisis (like war or apocalyptic economic crisis) is worthless - only food, water, medicine and ammunition will help you.

Jews fleeing during WWII that had Gold on them where killed faster by Nazi troops. Matter of fact, owning Gold was Life threatening back then.

Second. I loved the idea of a decentralized, currency that is independent from government and banks, but truth is, they will try to seize and destroy the idea (maybe not, maybe I'm wrong) but it is a threat to power and current rich fucks. Like the Internet: at the Beginning it was hailed as a "free form" to express yourself and to give the small guy real possibilities and chances, don't misunderstand me, it is still a fantastic medium, but in the meantime the internet has been taken over by big ass corporations, Wall Street and is heavily regulated and controlled by state agencies. You can't run around and write what you really think as it will be considered spam or otherwise be deleted or the FBI shows up at your doorsteps. Maybe I've become pessimistic...

Serious questions:

How can BitCoin (or any other currency) be really anonymous if I use it with real Life goods? What I mean is: I have a bitcoin address that is anonymous, but once I order something from Amazon (as an example) they will link the hashtag address to my real, physical name and home address. Gone is anonymity. Correct or am I missing something here?

 

[Cnotey]

Anyone see the front page news this morning? Hah. I would like pics of half of you eating your shoes now please.

 

[lancis]

Your prediction is as worthless as traffic lights in GTA tbh. Govts such as USA, of the world aren't fool to kill its currencies for a digital one. I do not indulge in this crypto coin shite.

For me nothing beats the robustness and the feel of a dollar bill. #ONLY-GENTLEMAN-THINGS

Back then, when electricity was a new kid in the town, the father of J.P. Morgan dismissed the technology as the "stuff of carnivals and fairs". In addition electricity was in direct competition with oil, which was serving as a lighting fuel, and was monopolized by Rockefeller.

Back then, smart people understood that with such an enemies electricity has no chance to survive, and they were correct - our houses are still lit by oil lamps.

Bitcoin as cryptocoin may not survive, just like DC lost its war to AC. But the technology in its broader sense is here to stay, mate.

 

[euros123dotcom]

By the way, financial bubbles are the least understood phenomena and not all bad for Society.

Bubbles are sometimes feed by Speculators and pure Greed. Greed for big or quick profits. Thanks to this human behavior it was possible to finance the US Railway system - speculators stepped in, pumped enormous amounts of money into the system, bubble bursts and most people lost a shit ton of money, but the trains and railway system stayed for the benefit of everyone and even the poor.

Same goes for the dot com bubble. If it weren't for that we would hardly have the Internet and networks as cheaply as we now have. Also Satellite technologies in the 80's: all pushed up by "greedy speculators". The truth is, these are the folks that bring development up to speed (also in biotech, etc.) later, the sheep will follow.

First adopters and speculators in the Crypto-Currency game will help to bring this to maturity and worldwide adoption. Is it good? Will it benefit everybody? Only time will tell, but the next time you cry "Bubble", remember that this financial effect also brings some good to human society.

 

[euros123dotcom]

...
Back then, smart people understood that with such an enemies electricity has no chance to survive, and they were correct - our houses are still lit by oil lamps.

Bitcoin as cryptocoin may not survive, just like DC lost its war to AC. But the technology in its broader sense is here to stay, mate.

Very good and valid point. I agree that the genie is out of the bottle. I just hope that Banks will not "hop on the train" and destroy another good idea with their stupidity.

 

[lancis]

How can BitCoin (or any other currency) be really anonymous if I use it with real Life goods? What I mean is: I have a bitcoin address that is anonymous, but once I order something from Amazon (as an example) they will link the hashtag address to my real, physical name and home address. Gone is anonymity. Correct or am I missing something here?

True, anonymity is a myth. However, you can cover your tracks by having a bunch of public addresses and bunch of private addresses, that are not connected to any physical name. The transactions can still be tracked between public/private addresses, but proving something will be difficult, same as with offshore bank accounts.

 

[Cnotey]

I guess no one got my joke. I will be a bit more clear. 750,000 bitcoins were stolen today. Mt. Gox shut down, over $100million worth of bitcoins gone. Currency dead. Gox CEO Resigns. Government to step in.

LOL.

 

[Toz]

I don't really think it's that difficult to understand..
True, it may or may not be Bitcoin, but some form of Cryptocurrency WILL be around.
I know you naysayers like your dollars. I like dollars, too!
But the reality is that the world is evolving. It always has and always will.

 

[Toz]

True, anonymity is a myth. However, you can cover your tracks by having a bunch of public addresses and bunch of private addresses, that are not connected to any physical name. The transactions can still be tracked between public/private addresses, but proving something will be difficult, same as with offshore bank accounts.

This, and being able to use mixers adds a layer of anonymity, in terms of where the dollars went. This is part of the beauty of it, though. It's called a Blockchain. It helps to ensure that counterfeit is NOT possible. You cannot simply create new money, as all money must travel through the blockchain.