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2017/10/29 01:13, Zepir:   
just shows how uneducated you are, Etherium has far more use and alot more transaction per day. Not to mention ERC20 tokens which every ICO uses now. I am gonna laugh when it goes up this year alot XD. BTC is going to be the gold standard but there is plenty of room for other cpryto.

2017/10/29 12:39, Rashnak: 
Totally not into this, but can you guys inform me how this works out when there is no more Bitcoins or whatever to be created?

In this discussion alone a number of different alternative currencies have been discussed. I believe the idea of Bitcoin for example is that eventually no more can be generated and that expectation drives the value up now.

So when that happens, what stops anyone from just starting a new currency, like there are alternative currencies now?

I understand the security and other factors coming from blockchain technology, but that aside, how is this different from let's say central banks printing more dollars or whatever? Instead, just anyone can create their own currency?


2017/10/29 16:34, Zepir:   
bitcoin has a finite amount at some point it wont be minable anymore. so the difference is you cant keep printing it. this is why it will be worth as much a 20,000 a coin in no time. People mine it thus creating the decentralized network for the transactions and contracts to be ran on. Its gonna take long long time for it to hit its final amount but it will happen. there is other crpytos out there besides bitcoin and some have multi billion dollar market caps, such as etherium and litecoin. anyone can create a new currency but it has to have good use case and technology, investing in crpyto is the same as investing in stocks and are sold and bought on online exhcanges in real time , 24/7 it never shuts down. The ICO's that have new implementations of the block chain tech and are innovative tend to get bought up etc. take a look at coinmarketcap.com and look at the top 100 currencies, each item on the list has a website you can reach and a forum etc. its pretty fun to invest in these penny coins and watch them blow up and pull in decent returns.

2017/10/30 14:44, Rashnak: 
@Zepir: 'bitcoin has a finite amount at some point it wont be minable anymore. so the difference is you cant keep printing it.'

Totally not what I was asking about. I didn't mean the eventually limited supply of any single currency, but the seemingly unlimited supply of currencies overall.

Doesn't that render the limit of individual currencies pretty useless?

If someone needs money but no more BTC or whatever is cheaply enough avalable, they just start a new currency and voila?

He wouldn't even necessarily need any start capital or resource to sell to the market to create the money, just start a currency, lure some suckers into it and there you go?


2017/10/30 17:37, Zepir:   
there will always be trading of BTC even more cannot be created, people will be trading the current supply. you can buy any ammount of btc down to thousands and hundreds of thousands of a single coin. people do create more currencies, all the time almost daily. only the new coins that have a use or technology behind it or major companies seem to make it. One recent company called stellar lumens just landed a deal with IBM for cross border payments, that just made the price skyrocket. its like a crazy stock market where you can make 40 percent gains all the flippin time. get into it asap and dont listen to noob fudders like kirby.

2017/10/30 18:53, Kirby:   
@Rashnak

To answer your question of 'why wouldn't people just create a new currency once all bitcoins are mined/created?':

The answer is in the Bitcoin whitepaper I linked a few replies back. But for a 'TL;DR' :

The strength of the real and proper Bitcoin network has to do (among many things) with the fact that that particular blockchain has reached a point where the chain is so long that it makes an attack unfeasible. An attacking node would need to redo the proof-of-work for all of the blocks hashed after the 'double-spend' block they are trying to inject, i.e. they would then need to catch up to and then -outpace- all of the honest nodes in order to get that block included.

As the chain grows in transactions and node coverage, this type of attack becomes less and less feasible, by a huge factor.

So, in other words, nobody with money to lose running a Bitcoin node is going to switch to accepting this 'new currency'. As they would be accepting transactions from a much much weaker chain. There would be no incentive.

2017/10/30 18:59, Kirby:   
Zephir, you are quickly crossing the line from 'innocent and misguided' to 'full-on scammer' with responses like 'time to get in on this ASAP'

I ask the audience, without understanding the technology, would you trust: person A who is trying to warn others to simply take the time to learn becore jumping in, or person B who says to ignore learning and warnings and jump in anyway?

This is personal for me. I've seen too many people get burned by mindsets like that. I'm only asking those thinking of getting into 'crypto' to stop, and learn a bit first. Is that unreasonable?

2017/10/31 02:08, Tyrion:   
Like Zepir's playstyle of jump right in, this is what creates excitement in life.

2017/10/31 02:47, Zepir:   
I just feel like you dont know what you are talking about at all, I got two of my friends into crpyto when i started pulling in returns weekly, they were astonished and jumped right in. I got a friend who just buys bitcoin every paycheck and for him its payed off greatly , he started buying in when bitcoin was 4k a coin now its and 6.2k . Stop spreading fud, crpyto is retardedly easy to get into, you are making it seem like some hard fucking thing, its not. its super simple, step 1 put money into bitcoin step 2 collect profits. I invest into all sorts of fucking shit including ICO's. People should be cautious when getting into this but literally its two steps

step 1. buy bitcoin

step 2. hold bitcoin

step 3. earn a bunch of money

if anyone is interested in getting into this and need help feel free to ask. dont let kirby get to you lol.

2017/10/31 06:40, Rashnak: 
@Kirby: 'nobody with money to lose running a Bitcoin node is going to switch to accepting this 'new currency'. As they would be accepting transactions from a much much weaker chain. There would be no incentive.'

I didn't previously understand that the proper BTC and those alternative currencies are somehow linked to each other - is that what you are saying? Can't a guy run a Bitcoin node and node for some other currency side by side but completely separate?

Now I am only interested in the time when no more bitcoins can be mined, and the only way to acquire more bitcoins for yourself would be to trade something for it - for example your work hours, house, or potatos that you farm.

What stops people from launching a new currency, however weak in the beginning, just to create money out of thin air from and by people like Zepir here?


2017/10/31 08:41, Razoor: 
From what I understand: because the technology isnt mainly a currency. As I think Zepir is trying to explain, it's a piece of software that fills a function that someone needs to be willing to pay to use. The currency is what you receive for contributing to letting the software run on your machine. So unless you can produce a software that people want to use, you're not going to get any one to buy in...and then you have no currency to speak of.

What I wonder is what will happen if/when people realize that most blockchain services arent convenient enough for everyday use and everyday users...that could cause a pretty nasty crash by killing demand.

2017/10/31 10:54, Vaelrin:   
Blockchain is obsolete already.
Hashgraph is the future.

2017/10/31 13:32, Zepir:   
The exact opposite is already occuring, blockchain is becoming far more easier and convenient to use, all the major tech companie are now switching to block chain because of the security, it is inevitable that the rest of the world will fall like dominoes, i am telling you once a company manages to launch the internet 2.0 on the block chain its game over. people who have money in crpyto will be rejoicing in the future, put any money you can in bitcoin and hold it you will be happy.

Rashnak even when bitcoin runs out miners will still get paid to process transactions on the network. Bitcoin is the gold standard it wont go anywhere, all other coins are bought and sold in bitcoin value or etherium. This is the future of tech theres nothing else that comes even close, the worlds first true super computers are being built now on the bloochain, aka golem (gnt) and etherium.

2017/11/01 14:07, Breaux: 
Bitcoin/blockchain is already becoming obsolete? Interesting read on hashgraph

[submitted link]

2017/11/02 10:38, Nimfea: 
Anyone looked into whats quantum computers are gonna do with cc in some years to come? I have very fuzzy understanding of it all but its going to impact cryptography hard, right?

2017/11/02 18:57, Zepir:   
I honestly dont see that as going anywhere, its not open source. The community will reject it. @Nimfea, thats a good point but i dont think they will ever be able to accomplish that. Its a pipe dream really and by the time they do it wont matter we will be dead.

2017/11/02 19:38, Plip:   
@Nimfea, white paper on cryptocurrency security against quantum computing attacks.

[submitted link]

2017/11/03 02:59, Kirby:   
@Rashnak

'I didn't previously understand that the proper BTC and those alternative currencies are somehow linked to each other - is that what you are saying?'

They are not linked. There have been numerous 'exchanges' over the years that will list sell/buy orders for both Bitcoin and other supposed 'altcoins' together, but in terms of the function of their respective protocols, no they are unrelated.

'Can't a guy run a Bitcoin node and node for some other currency side by side but completely separate? '

Yes.

'Now I am only interested in the time when no more bitcoins can be mined, and the only way to acquire more bitcoins for yourself would be to trade something for it - for example your work hours, house, or potatos that you farm.

What stops people from launching a new currency, however weak in the beginning, just to create money out of thin air from and by people like Zepir here? '

Nothing stops them, of course. I am just saying that the nodes running the original Bitcoin codebase form the strongest network (and, in my and many smarter than I's opinion, the only -relevant- cryptocurrency network), on the basis of many factors. So you can create an infinite number of alternatives, sure, but they won't be Bitcoin no matter how hard they market themselves.

I do agree with Zephir that people DO make tons of *short-term* gains by arbitraging these different cryptocurrencies. I am merely trying to warn that this is a risk gambit. It is essentially gambling (and the games are rigged).

There's also two separate ways to look at this whole cryptocurreny thing:

1) Try and manipulate the hype to gain short-term gains by *betting* on the lifespan of the latest Not-Bitcoin (ether).

2) Just ignore the hype and hold your value in Bitcoin proper, understanding that the REAL value in Bitcoin is that it is a store of value that is not dependent on any particular Nation's currency to back that value. Really, Bitcoin is more of a country than a currency. That is what gets lost in mindset 1) above..

2017/11/03 06:33, Kirby:   
@Rashnak: 'launching a new currency, however weak in the beginning, just to create money out of thin air '

Re-reading, I think notion here is what is tripping you up. Razoor already answered this though; Bitcoin is just a protocol, like TCP/IP. You would need people to use your new protocol for it to have any value.


@Zephir: 'Etherium has far more use and alot more transaction per day'

I just noticed this quote. This is a notion I know you will not let go of, but I am telling you: transaction volume is not indicative of a strong protocol or even a strong network. Node coverage, sure. But volume?

A strong network needs node coverage, large-enough hashpower, and a large enough block-chain to make double-spend attacks less feasible.

2017/11/03 06:37, Rashnak: 
Well I'm interested in effect of bitcoin (or crypto currencies in general) on real economy, investments, and dedevelopment of humanity.

It sounds that beyond the hype, the use of bitcoin is to function as new gold standard, and gold has traditionally been used as safe haven for wealth when it is too risky to have it in circulation.

And now when more and more people are (or are being wanted) to invest in crypto, it means more and more money will be out of the real economy - out of trade, out of investment, out of building roads, bridges, schools and hospitals.

Furthermore, the hype at grassroot level seems to be exactly there, in the grassroot level, which means that the profit will also be there, rather than in big financial institutions.

And that means that there is wealth moving to hands which are not accustomed to handle wealth - which is obviously feeding the hype even more.

2017/11/03 09:47, Savu:   
Let the speculations begin
[submitted link]

2017/11/05 04:17, Zepir:   
this is what i predict for 2018, the year of crpyto. The year people actually start paying attention to bitcoin. Massive money will flow into the markets from China and India and bitcoin will hit 20k by 2019 or far earlier. With the Amazon rumors and now soon there will be futures trading on forex with crpyto and other commodities. Seriously guys just buy bitcoin and hold it, easiest way to get into it and probably best way to multiple your fiat. just hold bitcoin for a single year and you will be happy.

2017/11/05 11:34, Vaelrin:   
What you experts think of this article?
Seems legit or?
[submitted link]

2017/11/05 14:30, Svarten:   
It's an opinion piece and the 'you' rhetoric is not inspiring confidence. I see graphgs but don't see the statistical analysis. Though, m nnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn¨'


also I don't think the stock analysts' toolbox even if correctly applied can really make any accurate predictions, as these resources are too volatile and (probably) dependent on a very small number of large actors. But I don't think he's scamming, it just seems to me to be a very pointy and targeted message.

(sry, my cat gave an opinion in the middle.)

2017/11/05 18:03, Zepir:   
I dont agree about PIVX, when XVG drops wraith protocol tomorrow, it will be the only privacy coin out there worth using. XVG will start to explode exponentially this year, i got in while it was half of a penny. its reaching about a penny now and should hit 5 cents in no time. Its gained 40 mil in value in the last week ramping up for wraith to come out and steal the market cap from monero and pivx. its the only coin that completely obfuscates IP and uses i2p and tor. if anyone is into crpyto i would buy some xvg before wraith drops tomorrow and hold it for a few months.

2017/11/06 10:09, Vaelrin:   
Zepir, we need to talk.

PM me on FB - Miko Laas (the one with ginger pic duh)

2017/11/06 17:55, Zepir:   
so I told yall to buy XVG at 100 sats its now 130 stas and going to hit 180, buy XVG asap. ok il try to find you. You guys still have 8 hours for wraith to drop seriously buy in now while its barely under a penny, it was half a penny now its almost a penny. I have made 60 percent on my investment this week alone of XVG, moon is the next stop friends.

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