What does Sup Forums think about Bitcoin?

What does Sup Forums think about Bitcoin?

Other urls found in this thread:

bitcoinhk.org/segwit2x-statement/
bitcoin.org.il/files/IBA_Statement_Segwit2x.pdf
en.m.wikipedia.org/wiki/Year_2038_problem.
segwit.party/charts/
blockchain.info/es/charts/hash-rate
amazon.com/Buffalo-DriveStation-Velocity-External-HD-LX6-0TU3/dp/B013P0JGP6/ref=sr_1_1?s=pc&ie=UTF8&qid=1509399898&sr=1-1&keywords=hd&refinements=p_n_feature_two_browse-bin:5446816011
reddit.com/r/ObtainFreeBitcoin/comments/79jgyg/best_faucets_list/
blockchain.info/charts/avg-block-size.
twitter.com/SFWRedditVideos

You must have the brand / mark of the beast to do business. But but but but BITCOIN....


DOES NOT FUCKING MATTER.

You will be forced to "verify" in the name of terrorism or be limited to a fraction of what you can use. Also this applies to the rate of which each coin is worth.

You think farmers are going to take BT when they need the tit of government for subsides and other cuts ?

I don't think. Thinking can get you killed.

It's a Rothschild plan for the NWO currency. The end.

Good money making opportunity

>Your ID

it's funny to me how jews can parrot this for years while simultaneously shitting themselves over it and think we'll suddenly start buying it

alinsky was a fucking IDIOT.

You got any coins? Are you hyped for the next fork, immediately dump B2X to BTC?

Missed the train. I wouldn't buy it at a quarter of the price and even if it doubled, it wouldn't be worth the risk in my opinion.

You do realize that this is exactly what people back in 2014 said?
Around mid november the bitcoin will fork: 2 currencies will exist at the same time. You get the same amount of alternative currency than you have in original bitcoin. Since this altcoin is actually shit everyone will immediately convert it back to bitcoin, raising the bitcoin price. Mark my words, this is the time to get on the hype train!

>when all you can do is mock

Hello jew, nice to see you

Still doesn't change the fact that the BTC whitepaper was released under a pseudonym and uses the exact encryption that the banks use.

Shill, hell is waiting for you

This fork is different. Only one will survive.

Someone who knows better explain it for us please

>a guy familiar with financial software comes up with a new finance instrument
Not everything a conspiracy

What would you like to know?

Recording every transaction ever will sooner or later run into technical problems.

Come now, everyone knows that storage isn't an issue nowadays.

gee wilckers! a competing bank!

better shut it down!

Credit cards was the first step
Chipped/Smart cards were next
Digi-cash from (((David Chaum))) first but failed to get attention
Satoshi Nakamoto drops the BTC whitepaper, still no one claims the name

Yes, it is a conspiracy, Rothschilds wish to own everything and were well on their way to finishing the job with crypto.

What's easier to steal, a password protecting all your digital money, or an actual wallet from your person. Plus, if anyone does crack your password and take the coins, what will you do then? Cry for donations? Because that's all you will get to do

It benefited from all the inflation that gold was supposed to absorb.

>TFW no bitcoin.

Should I just kill myself now?

Something where if you were lucky enough to get in early, you are rewarded for your risk taking. If you get in now, you are stupid because the risks and investment required to make money is stupid high. This is a pyramid scheme. Those at the top will end it when they decide they have enough to retire. Congrats on those who got in early though.

You should literally buy now, it's at 6.1k USD currently and rising!!

Bitcoin is a deflationary currency. If people keep adopting this, the price will naturally rise.

I don't have any extra shekels right now for bitcuck. I do have some nice outstanding debts though so I guess I'm doubly fucked.

>MFW still going to Russia this summer FTW!

Start a Dutch Tulip gardening business, for the irony.

As it stands now it’s a Ponzi scheme. I made money off it, others have but it’s still Enron tier bullshit that will eventually collapse. If you have the nerves to risk it, go ahead.

>If people keep adopting this
Thats the problem no one is nor does anyone care. All the discussions here and on /biz/ are about how much money bitcoin will make you, not about its use as cryptocurrency. Even you are touting it to make money here That tells you something.

Got some cash on it.
But it's a bubble

Seems like you're only looking for validation here. If you think its a good investment, then buy some BTC, don't look for magic answers in Sup Forums.
Nobody can really know whether bitcoin will die eventually, stabilize, or be worth millions per coin.

I'm waiting for the segwit2x fork before buying.

>You assume I won't
>But the numbers say I will.....

Wait until Italy's banks topple. Some people will look for alternatives... Hmm, what could an alternative to banks be??

Already got cash in it.

You do realize that if you buy now, you get the same amount of segwit2x coins at the time of the fork?

so this what you do

market cap / circulating supply = price of Bitcoin

$102,078,686,889 / 16,653,075 BTC = $6,129.72

.....let's use Apple's market cap

$842.19B / 16,653,075 BTC = $50,572.64

....let's use the S&P500's market cap

$22.6T / 16,653,075 BTC = $1,357,106.72

Bitcoin is not stopping any time soon

In my humble opinion, I don't think cryptocurrencies will ever be used for what they were originally meant (as a way to transfer money without a third party authority). It will just be an inversion. And perhaps it is indeed a Ponzi scheme, but one that is not illegal and that is still years behind its fall, if such fall ever occurs.

also, (((they))) will run out of money trying to become a whale on every cryptocurrency

The IMF & WB are already working with IBM and the Linux Foundation on their own iteration utilizing the blockchain tech btw

A blockchain coin backed by the supranational entities and approved by the worlds nations - coming soon. (After the market correction, bail-in, etc)

haram. at least here.

>ID = JEW
OY OY VEY

You sound like the retards that were screaming Y2K.

>brand / mark of the beast
The mark of the beast is SIM cards/chips/ip addresses user. And it's been her for decades.

It's might become the "new gold" it verry likely will go above 40.000 a coin in the next 15 years.
So can you make a lot of money with it? sure.

But it will not challange today's fraudulent monetary system at all. And cannot serve as a substitute for today's currencies. For the same reason that 100% gold-backed currency would be a bad idea.

ID = JEW

the real money is on litecoin faggot

Bitcoin is a great experiment.
The blockchain is its Achilles heel. Same with etherium. Before the end of the year the blockchain will be close to one terabytes which makes it unmanageable.
The idea of bitcoin was that you could hold it in your own wallet on your own computer. However with the exponentially increasing size of the blockchain that makes it impossible.

So people are relying on third party services to hold their coins for them which defeats the original purpose of a peer to peer monitary system.

Also the Chinese has pretty much taken over mining.

So bitcoin is becoming more and more centralized.

Bitcoins success and the growth of the blockchain will be the death of it.

I'm more worried about the divison of hashing power for each chain. There's a lot of uncertainty this time, because the community (both mining pools and exchanges) are very divided on this fork. Nobody really know which is the original bitcoin. Some people already claim that Bitcoin Cash is the original one.
In case you're interested, here's the statements both Hong Kong and Israel's bitcoin community released in regards to segwit2x:

bitcoinhk.org/segwit2x-statement/
bitcoin.org.il/files/IBA_Statement_Segwit2x.pdf

Y2K was an real problem, but it was taken care of, just like the year 2038 problem should at its due time: en.m.wikipedia.org/wiki/Year_2038_problem. And yes, the blockchain size is a problem. It is around 150 GB as of now, which means that less and less people while be able to run a node, thus, more centralization.

I'm honestly suprised you can simultaneusly display such deep lack of knowledge and arrogance in such few words.

A. Banks will not topple.
B. If they did people will literally not have money to buy Bitcoins.

I didn't say it was illegal. There are legal ponzi schemes out there that take the steps necessary to mask their wealth. But this is classic pyramid. All the guys on top hold the most coins, people below them buy and in term act like this guy and try to push others to buy and get in so his investment goes up rinse and repeat. I actually was there at the beginning, I was on the original bitcoin message board and all I remember those days were scams and people begging others to buy coins so the value would g up. Nothing has changed.

explain

Gresham's law

>From Wikipedia, the free encyclopedia
>In economics, Gresham's law is a monetary >principle stating that "bad money drives out good". >For example, if there are two forms of commodity >money in circulation, which are accepted by law >as having similar face value, the more valuable >commodity will disappear from circulation.

if you find a partial hash collision to the extent of the current difficulty the double sha256 of the merkle root of a block of 1-way elliptic curve signed transactions, you make a block getting new bitcoins and this block will be a new tip for all outgoing p2p connections to use, probabilistically

this

this was said about bitcoin unlimited and bitcoin classic dip

segwit.party/charts/

On this site you can see that there's only about 9% of support for segwit in current transactions. It has dropped.

One thing which does concern me though is the surge in hashing power somewhere the last few days. This could mean that someone has a farm standby, which will activate at the segwit fork, suddenly hashing on that chain. This could be a real issue.

Last year = 105$CAD/BTC
Today = 8000$/BTC

That\s a 7,600% increase.... I wonder how next year will fair.

money needs no backing, especially from these godamned jews

BUY

this. People should enjoy the ride.
Hodl your bags guys. I will not buy into it again.
FOMO investors drive out good investors. The pop will be epic this time

BUY BUY BUY BUY

I already have quite a bit in BTC. Not a LOT but enough that if it makes it to 1 mill, I could live pretty well..

>2018: The Bitcoin bubble has popped and investors are now appealing to the federal government for a bailout
>Casual observers are referring to this crisis as both infuriating and hilarious

ive made 40k since june folliwing memes on biz

>money needs no backing
mother of all redpills.

reality is 100% a stage show. "the jews" and "communists" and "terrorists" are fake cyclical dramas that will always have the elite owning us like cattle.

unless we start printing our own cash. that's why I suggest NAZI CITIES IN THE SKY. we will reach them with secret nazi tech.

Litecoin is still a huge asymmetric bet with ridiculous payoff. Bitcoin hasn't solved scaling at all, has multiple forks, and is pretty much priced in. Whereas bitcoin could go up 10-fold in the next years, litecoin, which gains adopters by the day due to the inherent mess that is bitcoin scaling, still has hundreds-fold to go up.

Have you cashed in yet?

I wish I fucking knew about it years earlier cause Id be a millionaire right now senpai >:(

Actually, I was seeing the opposite thing. A massive fall in hashing power. As if one or several pools were shut down altogether.

blockchain.info/es/charts/hash-rate

Its either that or blockchain.info's data is bullshit.

This is happening at the same time 1 BTC is reaching 6200 USD. To be honest, I have no idea what is going on.

youre retarded if you think this. im deep in alts and watching iduots like you get burnt will be hilarious

>implying you didn't sell your soul by signing up for internet, drivers license, public school, paying for Stacy to eat dinner with you
Nigger, you can download a bitcoin core wallet anonymously on your computer and do whatever the fuck you want with it, no signing up for shit

Either you are a shill or are retarded

This could be a decoy? If you make people believe that there's no support for B2X but when the fork happen you suddenly turn on all rigs again?

Interesting point. Any idea what caused this sudden peak?

Here's a 6TB drive for 6 Litecoin faggot:

amazon.com/Buffalo-DriveStation-Velocity-External-HD-LX6-0TU3/dp/B013P0JGP6/ref=sr_1_1?s=pc&ie=UTF8&qid=1509399898&sr=1-1&keywords=hd&refinements=p_n_feature_two_browse-bin:5446816011

the leaf nose

ive cashed out over 15k. the s2x rebound ia going to be glorious for alts

so you made 15k, gg

US has a 20% capital gains tax. FUCK THE IRS

If Bernie won it would have been worse

I'm a complete nobody, but there is a thing about bitcoin I don't understand.

The idea was supposedly that bitcoin would become an alternative currency, right? But is the current time, I see a very volatile price of bitcoin. It's rising way faster than inflation. This means there actually no incentive to buy stuff with bitcoin. It's much better to use your 'regular' money to buy stuff, and keep your bitcoin position intact (assuming there are penalties for money to bitcoin conversions). So everyone already owning bitcoin keeps their position.

Meanwhile, there are people who already owning bitcoin encouraging people to buy bitcoins, likely because the price will rise. However, this worsens the first problem. It feels like it's close to impossible to get out of this cycle, except for a bubble burst.

Am I missing something here?

>the s2x rebound ia going to be glorious for alts
So sell s2x at fork and buy in after the crash. Why would alts be affected?

No it's always been this way. Too volatile for use other than an asset

I think you should spare me some :^)
14mQXppEZCTPk5k5YyKdn2qzrUf4aoVwhH

hurrrrr durrrrrr unrealised gains have no tangible value hurrrrrfddddffrrdrdpplleedurrrpplle fucking retard

no replay protection

I'm not an expert on this but from what I understand bitcoin's implementation of blockchain has a very serious problem, not in the size of the blockchain but the increasing hashing difficulty.
Since transactions are appended to newly discovered blocks (which also have a size limit), this means there's a limited number of transactions per minute which is inversely proportional to the difficulty.
As time goes on and difficulty increases, the number of transactions per minute will decrease, and when combined with bitcoin's increasing use it will eventually reach a point where transaction times are so long that it's completely unusable.
Please correct this if I got it wrong - I'd actually prefer to be wrong on this.

if you would be invested in something that is less volatile, no. But crypto, come on.

You are right that there is a maximum number of transactions per block. Currently, the max block size is 1 megabyte. However, the software is designed such that every 10 minutes a new block is generated: after some time it is checked if this is true and the difficulty is changed accordingly.

So yes, 1 MB is going to be a bottleneck. However, Bitcoin Core can just decide to increase the max block size and therefore 'fork' the network. This will not be a huge problem.

goy fooling kike casino

That ID... So buy Bitcoin /pol?

Can I get some bitcoin please I need it, please
1Pe96Ev3h3cCdesPwLNVXVY2rYhQY1fomR

1sfTCBFmQR8QPtQAE75G3La1XCLzHUD1Q

1je36Ev3h3cCdesswLN4X7Y2rYhQY16omR

wrong, the difficulty and the blocksize are independent variables

>Asking for handouts in the name of capitalism

need BTC to kill roaches

1FeYDQaopnCDHd6gMtiV3c2G3oQLy93o2b

>difficulty and the blocksize are independent
I know that, but doesn't the increase in difficulty equal longer times between blocks discovered?

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No, the software is designed such that every 10 minute a block is found. If this results in more or less than one block per 10 minutes, this means that the difficulty is changed.

Less than 10 minutes: diff increase.
More than 10: diff decrease.

Get them for 'free'? reddit.com/r/ObtainFreeBitcoin/comments/79jgyg/best_faucets_list/

Stop creating that thread here every day. Nobody wants to buy your fucking bags.

Ah, but transaction times would still go up if more then 1mb of transactions are requested in a 10min period, right? Since they wouldn't fit in the 1mb block size?
Would increasing the block size require a fork?

nothing ... there's plenty of money flowing into bitcoin as return of investment in other risky businesses isn't high enough

i'd bet anything it will fail once china or the us or some other bigger cuntry make their own chain-shit and shitcoins ... banning those and making them straight up illegal and harder to use ...

Yes. If a 1 mb block is filled, then new transactions have to be put in the new block. If this happens, then the first transactions will be processed in the next block, of course, but if this block also exceeds 1 mb then the transaction time will increase linearly. This is a big problem. You can see the average block size here: blockchain.info/charts/avg-block-size. This is hogging against the 1 MB.

Increasing the block size needs a fork. The current software has a hardcoded max on 1 MB per block. Therefore, the software needs to be updated in order to increase max block size. Every software update means that all nodes and miners need to adapt this new software, hence a fork (since some nodes and miners might decide to still mine / maintain the 'original' code (but this is of course a stupid idea)).