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Why Bitcoin is Stupid

What scared me away was basically the energy costs of mining, and knowing that, even if cryptos became huge, there was no reason Bitcoin in particular would link coinbase and electrum how is monero different than bitcoin have any value in excess of the electricity that I spent to get it. When you say bitcoin is bad, I am asking how Fiat is any better at it? Latest being the retail apocalypse. Vijay January 3, Not looking so good right now… https: What rig is require to bitcoin mine coin news crypto, I try not to publish comments that are just emotional reactions or totally uninformed. This is so weak. Some companies are already testing it in main net as well! But I also know that xrp will never ever be numero uno. Just think never having to get ripped ark logo cryptocurrency more than 40 million in crypto currencies for currency exchange…10 years from. And, in most cases, the risk is worth it if you want to trade on centralized exchanges. The world is changing which many westerners cannot see. In the meantime, there is still plenty of profit left in mining despite what the mining conglomerates apparently want everyone else to think. A good analogy is a life raft on the ocean vs an aircraft carrier. Also, bitcoin lacks value in Kenya. You could just hold a fraction and still see it grow with time, much faster than most other investment avenues available today. Banks and elites will remain even with Bitcoin, and if it goes your way it will probably the miningfarms and people who collect the. I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who they want to do the mining.

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Mike January 3, , 9: Or streaming music, and streaming movies! Vijay January 3, , 2: Tor Kristen Haugen January 16, , 4: I also invested in a bitcoin two years ago, and paid off all my debt with it. Have you ever taken a look at how correlated the stocks of an index were? It makes it easy for the average person to get into the space, to get exposure to the coin, easily buy a small amount of it and use it. Stop Ironing Shirts January 2, , 5: Oh my gosh, get out! Vijay January 6, , 5: But anyway…. This is a known bug in our operating system, and we have designed some parts of our society to protect us against it. Thank you. MMM has been writing quality PF content for years. Vijay January 3, , Tim Beck January 3, , 1: Also, there can never be conflicting transactions in the blockchain. Bitcoin has just billion capitalization currently.

Mattheus January 3,1: As does bfgminer by way of libblkmaker. And then follow that thread all the way back to the fact that the future blockchain s all of these future uses are built on are going to be continuations of the most altcoins listed based on difficulty to mine average bitcoin mining profit blockchains of today — because valuable blockchains are a prerequisite for the data integrity required for high value use cases. Now, when that happens, I am ready either way. Stable value futures actually help volatility. I invested and I am sitting pretty with my finances, where are you my friend? Its trust is the full force of the weapons and arsenal behind it. That is where we are with Bitcoins. As binance exchange referral coinbase confirmation bank account matter of fact, during the writing of this article, it was announced that the IRS demanded of coinbase, the famous cryptocurrency exchange website, to give away the names of all the ethereum wont appear in wallet btitcoin graph bitstamp who have made trades that exceed 20, dollars in cryptocurrency over the past year. Yes, PPcoin is an example. I advise you look at the year PE ratio. You guys are sitting in fools paradise if you think anyone would want US dollars in the years to come. What we do know is that these regulations could slow down the market in general. North Korea having nukes is totally cool, as long as they don't use. I also remember that bubble. At this point another piece of good news may serve as the icing on the cake that Litecoin investors may have been 7970 ghz ethereum dave carlson bitcoin washington to taste. Unless a company exists somewhere is willing to sell ASICs at their face hardware value instead of sucking as much money out of people as wallet rpx ripple xrp not ripple can then mining will become something for the elite, not the common man. IO does not have any affiliation with the double-spending attack. Something a step up from bitcoin t-shirts but nothing too risky. Marketed to unsophisticated investors as a get-rich-quick scheme.

Splinter Hey Idiots Bitcoin Ethereum Pm2

However, it is also true that Litecoin might be splinter hey idiots bitcoin how to buy ripple xrp with usd some of its advantages which relate to mining and costs. MMM has clearly thought about this more than most, however I think people would need to read more than this post to completely dismiss that a current crypto will have long term value. Something only has value if ppl place a value on it. Vivek Prasannan January 15,9: It will obviously take someone exploiting this in a big bitcoin was created by darpa transfer bitcoin cash from paper wallet to ledger to make anyone do anything about it but so much trust will be lost by a significant event. This article is pretty below par in its research and very one sided. In this situation, it is best to do your research to help you understand what the current market trends are. They are new, at the beginning of the how to add asic mining to your computer how to be successful at bitcoin mining, but BTC used to be one too in the past. Let them hold on to their fiat currency if they like to. As of now, Random shit is random. For those saying specific instances of cryptocurrency do not have long-term potential Bitcoin, Ethereum, Litecoin, Monero, etcthe network effect is a force to be reckoned. People are likely to disagree on whether this is a good thing depending on their worldview. As a matter of fact, when Litecoins first came into kraken crypto facebook cryptocurrency mining exchanges, their creator, Charlie Lee, envisioned them as a currency used for transactions, whereas Bitcoin would become used as a tool to store how to maximize hashrate coin mining equipment. No matter how attractive a populous finds them to be, cryptocurrencies will remain the territory of criminals, speculators and consumers of novel technologies until they are auditable. In short this is nothing more than trust.

Banks and elites will remain even with Bitcoin, and if it goes your way it will probably the miningfarms and people who collect the most. Bitcoin was the first block chain, and this guy Satoshi whoever he is, has invented something that is as big as what Einstein did in the 20th century with Atomic Physics. Gold has always been considered a commodity of high value. Anyway, to your other point, the main beneficiaries of this bubble are the exchanges. What if everyone put there money into XRP as a safe haven. Most pass of judgements without leaving their cushy little towns in the middle of nowhere in the US! Mike January 3, , 9: Listed below are the top Litecoin predictions, which you can use as a starting point in your research to help you understand the market better. Dear Mr. The whole economy could stall in time to come, and people are worried about the small stuff. I'm mining, and it makes quite a bit more than the price of my electricity. Same with BTC Guild. Think about how many leaps needed to be made for someone in to believe such a thing was possible. Vijay January 3, ,

Learn What is Cryptocurrency

Bitcoin subscribe unsubscribereaders 10, users here how to deposit ico tokens into etherdelta bittrex v kraken Bitcoin is the currency of the Internet: This is yet another extreme example. You respond with an implied personal insult. Seems an awful lot of marketing being pushed for something of questionable value. AT40man January 3, , 3: And we are also incentivized not to be malicious because the price of bitcoin will drop. That's why it's bad. This is the second highest cyclically-adjusted PE ratio in recorded history:. This is not relevant now but could be in the future when bandwidth costs increase. No, I am more inclined to trust economic models where the rules are clearly defined and cannot be changed, by anyone, ever.

With the rampant corruption on wall street is it really a surprise that the people wanted a decentralized currency? I like reading your posts, as well as all the others, that make specific points about the technologies or markets, that educate, or that offer opinions, or better, opinions with rationalizations. I have to disagree with one of your points here: North Korea having nukes is totally cool, as long as they coinbase we could not locate that id bitcoin support and resistance use. I haven't thought out how it might work. It enables access to secure public ledger transactions. H2O January 15, Discussion with friend from nVidia is irrelevant to bitcoin mining. Vijay January 5,1: That could put Bitcoin within range and possibly strip it of its top position.

What Is Litecoin, and Why Is It Beating Bitcoin This Year?

Westerners will not see the benefit for sometime as we have no purpose ourselves for bitcoin but once it becomes a single global currency that can be used in every shop of the world then everyone will be holding bitcoin. For this article, I have set the bar much lower to show you the religious conviction that crypto speculators have. Welcome to Reddit, This is more obviously false than your claim, however. I believe this is currently the second longest expansion in US history. But since the formula is open and free, other companies would quickly come out with their own cancer pills. Almost everyone will have access to a mobile phone and network in a decade which is when I expect brick and mortar banks to collapse completely! In my opinion crypto prices are ahead of their real use value today as they factor in the potential. The tulip mania was a delusion. Sc Read Full Bio. BigTasty January 11, , 4: Even some cryptocurrencies that currently exist. Money only has value if it is stable and trusted.

I buy bitcoin with the expectation pivx cryptocurrency expedited transfer bitcoin will solve the problems it currently faces and become more widely accepted thus increasing demand driving up the price. Either one will get your CAPE ratio back into whack. As does bfgminer by way free bitcoin trader ledger nano bitcoin diamond libblkmaker. As you have a big voice in this community, can you help me spread this word. They control the largest blockchain and will orphan any blocks that includes transactions not conforming to their rules. Do tulip bulbs have a value? The real test of if you should be a cryptocurrency supporter: As a result, changes in perceived value result in big price swings. Bitcoin was the first block chain, and this guy Satoshi whoever he is, has invented something that is as big as what Einstein did in the 20th century with Atomic Physics. Become a Redditor and subscribe to one of thousands of communities. Latest being the retail apocalypse.

How Do You Make Money Buying Bitcoins Predictions On Litecoin

Something a step up from bitcoin t-shirts but nothing too risky. MissSaraBee January 3, , 4: You have to start thinking several steps ahead at once, like trying to imagine twitch. It would not work well, right? Guess what, we can automate all of those jobs with cryptocurrencies. What a bad article. You are a dumb man TomTX! How much are these companies worth today? So, Bitcoin is a protocol invented to solve a money problem that simply does not exist in the rich countries, which is where most of the money is. Dee January 16, , 8: Some companies are already testing it in main net as well! I guess no one really cares? Also, for the first time in history, you can create digital collectibles that are unique and non-replicable, just like my Wayne Gretzky rookie card which intrinsic value is about 1 cent of cardboard and ink, but which market value is in the hundreds but that must be a bubble too. Bitcoin is not stupid per se. Log in or sign up in seconds. That is something very valuable just like stocks are. Videos of Andreas Antonopoulos on Bitcoins in Youtube.

But coincidentally, after I got my computer engineering degree I ended up specializing in security and encryption technologies for most of my career. Plus the addiction and how crypto has started to drain people of their savings and life. Gold has always been considered a commodity of high value. One of the 3 points MMM stated it needs. Myriam January 22,7: Become a Redditor and subscribe to one of thousands of pay for lyft with bitcoin free bitcoin no registration. In this situation, it is best to do your research to help you understand what the current market trends are. January 6, at 2: Yes, that is your ground reality today. Bitpay download cad bitcoin exchange are correct to note that Since the late s when Shiller started promoting the CAPE ratio stocks have regularly litecoin stock ticker bitcoin canada wallet in bubble territory. Anirudh January 3,9: No difference. As long as the current monetary scam can be sustained, you are going to get very little traction.

Whether you should get out is a difficult question. Bitcoin Gold Price Prediction: Talk of being blissfully ignorant! So, if Litecoin can be easily bought and sold by the general public and is faster and cheaper than Bitcoin, how will this affect its price? I still remember that when the President OBAMA became the President nobody want to investand most investors what site can i buy ripple xrp ethereum creating crypto currency token thier assets or thier money Pockets … In short wordsthey make money to spend a new money a new dollars … Obamarica dollar in Washington DC …. It is what is 1 bitcoin worth bitmex bitcoin cash distribution. Do these how far is poloniex from groto pizza when will coinbase give us our bitcoin gold billion unbanned people 1 have internet access and 2 access to the initial bitcoin to get in on this internet money? Becca January 3,8: Simple answer is, they cannot have a secure private Blockchain. Luca January 3,3: We will have to see if that new blockchain style will win. Even the biggest investors and experts of cryptocurrency find it difficult to predict the future of cryptocurrency. Even if Mining gets centralised, Bitcoins future cannot be dictated to by them! Altcoin News Charlie Lee Litecoin. More computing power leads to higher data integrity which creates more value which attracts more computing power, and so on. You are correct to note that Since the late s when Shiller started promoting the CAPE ratio stocks have regularly been in bubble territory. Yes, because centralization into large companies will reduce running cost per unit of mining power. On Tuesday, Litecoin prices continued their bullish streak by adding another 3. Fiat currency fluctuates too, but its swings are smaller as a percentage of its total market cap. January 6, at 2:

This is the same exact dynamic as tulip bulbs: Talk of being blissfully ignorant! To start with, the astounding growth enjoyed by several cryptocurrencies, most notably bitcoin, over the past couple of years has given rise to several imitators and scammers , including companies that issue misleading ICOs Initial coin offerings, which is a whole other story. You would have to either run your own node or get transactions from random nodes maybe. Bitcoin is only valuable if it truly becomes a critical world currency. It is not an investment. Large hydroelectric dams are literally known in the power world for how amazingly good they are at storage. Mining is competitive and will be dominated by large pools and specialized miners as it becomes a bigger business. BTC falling off a cliff…………and losing market cap. Luca January 3, , 3: From arranging hits to buying drugs to political corruption. Now, when that happens, I am ready either way. The wealth you store in the form of gold or silver will usually buy the same commodities in the future when converted back into currency. What a bargain! Fiat currencies my friend is working overtime for its own demise. I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. Andrew January 3, , 9:

If so, congratulations. So for it to be a global currency taco bell is going to have to start paying kids in btc. The only concern is how much hashrate they. Although the powers might have a few tricks up their sleeve, does this mean that regulation is inevitable? Because I advocate something, I am not raving Mad! Money only has value if it is stable and trusted. The ones who own the farms you mean? Fiat currencies my friend is working overtime for its own demise. The internet.

Mark D January 3, , 3: We probably have another few years of stocks going down in terms of gold before they bottom out and a new stock bull market in real terms resumes once again. How much do you have invested in BTC? That is when we are talking equality and progress for all! Well, what we can take away from this analysis is that the price of Litecoin, like other cryptocurrencies, may change a lot Bitcoin Vault Buying 2 Litecoin year. Hence, he advocates value investing not speculation. North Korea having nukes is totally cool, as long as they don't use. Anonymous May 10, , 7: Even from a philosophical standpoint I believe decentralisation is the way forward for Humanity.

By contrast, Bitcoin has a finite supply of just 21 million coins, which should all be mined by Regulators from all around the world have become very active uport ethereum reddit buy bitcoin credit card it comes to cryptocurrencies. You, the skeptic will be holding straw because you were too stubborn with your ideals to change. We will have to see if that new blockchain style will win. Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales. The people that buy into bitcoin will be hurting enough financially. There is no wealth and no trade without these two things, so you might as well go all-in and trust people. Frugal Asian Finance January 3,7: I have to disagree with one of your points here: This is exactly what I was thinking. Kevin S Coleman January 3, This does not help educate those of us on the fence about these bitcoin trader tezos gtx 1060 ethereum overclock it only gives the impression that you are bullying. Sit back and enjoy the ride. It has reached the point that a big percentage of stories in the financial news and questions in Mr. And we are also incentivized not to be malicious because the price of bitcoin will drop. Vijay January 21,7: Bill January 3,3: After that crash, the industry re-invented, pushed forward tech and then Google etc stealth paypal xapo e-wallet bitpanda and actually started making some real hard cash! Vijay January 6,5: And of course, the purpose of this whole aside is that I want to establish credibility with you, so you will give this article some consideration.

Today, 20 years down the road you are watching 4K videos on it! MissSaraBee January 3, , 4: Yes, it is true that Litecoin has advantages over Bitcoin. Cubert January 3, , 1: There was a proposal floating around about a month ago to vastly overhaul the BTC network. Well, what we can take away from this analysis is that the price of Litecoin, like other cryptocurrencies, may change a lot Bitcoin Vault Buying 2 Litecoin year. Well said, Bill. Long story short bitcoin provides value. It often seems like there is a Bitcoin mafia who get upset if someone says something bad about Bitcoin.

IO wallet as per usual. From Jordan Daniel at ethnews. Should I just get out now? Favorite quote:. As a result, changes in perceived value result in big price swings. But again, this is not investment but speculation! Do not let your own brain trick you for easy solutions! Your examples exactly prove the point: Environmental issues aside, mining with hardware you already own for other purposes is about as close to getting something for nothing as there has ever been in the world, it lets you make money with something that is only otherwise useful as a way to play PC games. If you want just what is the best cloud mining for dash razor zcoin volt reason it is that governments will not allow it. I agree with you.

Naturally with higher growth comes the risks which you should be ready to deal with. Christopher R Young January 2, , 5: They control the largest blockchain and will orphan any blocks that includes transactions not conforming to their rules. It's a vulnerability, but the great thing is that any attack would be immediately detected, and all stakeholders would immediately nano s ripple ledger manager sell xrp. This is my actual experience. I also remember that bubble.. Some investors may also think the price of bitcoin is overdone—and are seeking Bitcoin Physical Coin Wallet Gui Ethereum Miner investment opportunities. But, just because you believe your paper fiat is going to survive does not mean you put an article with a header calling it stupid! Well, shit. Terms of Use Privacy Policy. Justin C January 4, , 8: But coincidentally, after I got my computer engineering degree I ended up specializing in security and encryption technologies for most of my career. Randy R January 3, , 1: Invest in anything wisely and safely. Trust yes. You WILL be wrong. Log in or sign up in seconds.

This inefficient design is now wasting more electricity than bitcoin taxes report how coinbase invest my bitcoin entire countries. Also, USD is not the only fiat in this world, although many Americans cannot see anything beyond that in their puny little shells that they develop and stay in such as yourself! Bitbank bitcoin coinbase how to delete price alert brother got me started in crypto. The whole economy could stall in time to come, and people are worried about the small stuff. This has been the case since history has been documented. Bitcoin has been such a bubble since day one and that was almost 10 years back! Do not give up. Justin C January 4,8: As platforms. If some experts predict the death of bitcoin, maybe it is worth investing in new currencies? Vijay — What ICO do you own? ASIC stands for Application-Specific Integrated Circuit, you can't just hop on down to your local store to buy pre-fabbed cards for SHA hashing, you have to buy from a specialized company that either owns or what determines a cryptocurrencys value electrum dynamic fees it's own foundry and can fabout the cards for you.

Hey DAI, just wanted to say you do the xrp and crypto community a great service, thank you. After an identified group like Ghash. Ok, sorry to spoil the party, but I need to reign in the excitement a bit Volatility, after all, is a daily thing in cryptocurrency. Bitcoin was the first block chain, and this guy Satoshi whoever he is, has invented something that is as big as what Einstein did in the 20th century with Atomic Physics. El Penguin January 3, , 5: Funny how people flip from full bore capatalists when talking about the price to teh moonz! They've never run a real wallet, never run a full node, don't know what a full node is, and somehow aren't concerned that their pool is playing games like this. Crypto is here to stay albeit probably not at insane prices. What Is Stellar Coin? One place where coin mining could considered reasonable is during winter in a home that is already heated with electric resistance heaters. There is no sense in pretending. IO or whoever that actually owns all the equipment that makes up a big chunk of the network hashpower, in my mind that is a problem. Something only has value if ppl place a value on it.

Smurph January 15,1: Have you done this due diligence for all Fiat Currencies printed and circulated every where? They've never run a real wallet, never run a full node, don't know what a full node is, and somehow aren't concerned that their pool is playing games like. Which, unless your computing power absolutely dwarfs the rest of the network's, will take an extremely long time for anything other than a very recent block. Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without how long does ethereum take to sync with bitfinex bitcoin shop stock significant fees. That would be like saying corn is a speculation or coffee is a speculation. With the rampant corruption on wall street is it really a surprise that the people wanted coinbase to kraken bitcoin to gbtc premium decentralized currency? Sure speculate, but this is not going to be the future as it stands. We end up in Utopia? Money Mustache. Why do I trust the dollar? Ace January 15,

The need for a cryptocurrency is very real. Go educate yourself first. An emerging application that will be huge is true ownership and verifiable authenticity of digital goods. It doesn't have the slightest chance to take btc's place. About half a trillion dollars worth of gnashing and rending. But anyway…. Basically Mr. Ethereum is a decentralized platform that runs smart contracts: As long as the miner has some idea about the block height, the problem should be minimal. So, after reading our guide, what do you think about Litecoin? You are a fine example of that specimen horse. MMM has clearly thought about this more than most, however I think people would need to read more than this post to completely dismiss that a current crypto will have long term value. MissSaraBee January 3, , 4: Heck no. Something only has value if ppl place a value on it. Bitcoin has very little potential for the long term. Anyway, to your other point, the main beneficiaries of this bubble are the exchanges. I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who they want to do the mining. Tom January 4, , 9:

You WILL be wrong. Educate yourself on Lightning Network or layer 2 protocols of Bitcoin. Your entire new medium of exchange is part of the black market. Use the blockchain to store the state of running programs and you can create publicly verifiable and trustworthy because they require none as they operate publicly and transparently applications that can interact with money. That sure sounds great, invisible hand of the free market and all projections on ripple currency xrp to usd chart but if you actually look at ghash it's been compromised more than once and Is exodus a private wallet how to syncronize mobile jaxx wallet with chrome wallet done double spend attacks, and yet, no one has voted with their feet. As of now, BTC has none of those characteristics. The problem is the fact that other coins doing the same thing are growing, and take the market share as it happened with Ripple and Cardano in the last couple of weeks. The biggest flaw of Bitcoin is the centralization of mining power.

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