So with cryptocurrencies and mining becoming ever more popular, is it something that will survive and have the power to replace the Central Banking systems in place around the world? Or is it just a literal fad that will come and go in a few years time for people looking to make a quick buck?
This has caused consumer computer hardware shortages (GPU and RAM) and prices are skyrocketing because miners keep buying everything up.
Is crypto good or bad for the future of society and economy?
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Good. Imagine an interplanetary currency, do you really want some random planet deciding it has more money than it does? You can't easily go and check; but with bitcoin, they cannot pretend they have money that they do not. Math is universal and not subject to inflation or resource addition (asteroid mining for gold).
How to solve the problem of governments accepting is as legal tender?
Could Crypto not be inflated if the blockchain is changed? If I read correctly, the blockchain is what determines the available amount of currency, so if that got bigger, doesn't the amount of currency able to be circulated also increase?
>t. the literal state of Sup Forums
Fuck man, watch a Jewtube video about it at the very least.
>Legal tender
>A-user I...
Fuck, we might not make it after all goys.
The algorithm used releases a certain amount of bitcoins until it hits a limit. You can't increase that limit without invalidating all previous transactions. It has a set amount of inflation (new bitcoins mined), after mining power is used for confirmation of transactions rather than new blocks. Bitcoins can not be increased artificially, which is why I support it over its derivatives.
Crypto is how overpopulation is solved.Im probably telling you too much, but it doesnt really matter since its unstoppable now. Its been planned for decades. DHS developed SHA265 as the first step making it all possible.
They waited until the right time, right after a major financial crash, to release it through "satoshi nakamoto".
Bitcoin is deflationary, meaning the value will increase, thereby removing a major incentive for ppl to invest. This will kill economic growth, only allowing people with capital and the most productive people to survive. The combined effect of this deflationary currency and automation will assure the only people who survive, are the people who are smart and well adapted enough to thrive in the coming intergalactic age for humanity.
my point exactly, smart guy.
Don't be a faggot, everyone has to learn at some point. You could have linked to an instructive video rather than having him sift through all shit videos pushing alt-coins for their pump-and-dump schemes.
coindesk.com
Haven't read through all of it, but should get you started.
Why should they? If they want to get a cut of bitcoin, then they can set up mining networks themselves and get paid for every use worldwide.
If a Crypto is adopted as the means of financial transaction, how does that leave anyone behind exactly? How would it affect, if at all, normal businesses and the way people get paid for their work?
Also, How does having multiple cryptocurrencies bode for the future, or will it be a battle until one is left to be used as "official" currency?
Because you're hoping it becomes a new currency without governments cooperating.
It already is. You can buy something from someone and have it shipped or tap phones with certain wallets like a cash exchange. Currency is the medium by which people agree to trade goods, each new person joining further solidifies it as a currency.
That's the point
do you mean preventing them from doing so? At last look around 6 countries are looking into establishing their own blockchains. Also, increasing normie corporate coins being established. Every time they announce their stock jumps.
youtube is a crypto shit show.
>gaping mouth selfie
>"How I turned $10,000 into $100,000 using cryptocurrency"
>"How I became a crypto millionaire"
anything the chinese are involved in is highly suspect. why would chinese who are raised as slaves, care about the ideals behind crypto?
It affects investment. Right now your money loses value because more gets printed. Thats why it makes sense to invest money in companies. With bitcoin very few startups even get funding because people just hold their coins to be more worth. Alot fewer jobs.
There will be multiple crypto. 5 major ones bitcoin included, but bitcoin will be king for as far planned ahead. Together these 5 will be ca. 80% of total cryptos, but there will be many shooting stars having succes in niche markets. Criminals and terrorists will use anonymity-coins like dash.
how do I mine cryptos? I have a powerful computer
>the value will increase
>thereby removing a major incentive for ppl to invest.
What?
Different schemes for mining, many of which don't require 'a powerful computer' desu. You can look up CPU-only coins list and go from there if you want. Or do cloud or pool mining like everybody else does.
However, your regular computer is unlikely to earn you anything, you have to invest in dedicated asic chips or many GPUs for non-asic coins.
The bitcoin blockchain is like a public ledger of all btc transactions. If a transaction isn't added to the blockchain it didn't happen. Stopping the blockchain from growing = stopping all btc transactions