2020 Collapse

alor said:
the policy had been set without Australian supply...
after a few years, we will get to see the outcome
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Jin_Song_Dynasty.jpg
 
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TreasureHunter said:
They want to get rid of cryptos claiming that they consume too much energy... hilarious.

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What a joke Bitcoin is.
Wastes a vast amount of computer time and energy doing nothing useful.
In 100 years,w hen we have computers the size of continents,and have harnessed the entire Power of the sun,the technology may have practical application.

Last edited: Mar 24, 2018
 
Computation for Bitcoin has achieved a change in thinking? I don't think you can classify the potential the bitcoin offers as useless... This even from just the fundamental statement of being another source of value.
 
Anyone rubbishing bitcoin at this point only exposes a lack of thorough understanding.
Trying to convince others to buy it hand-over-fist right now is a whole other story…
 
heartastack said:
Anyone rubbishing bitcoin at this point only exposes a lack of thorough understanding.
Trying to convince others to buy it hand-over-fist right now is a whole other story…
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Agreed.

Many people who missed the boat speak against it. Also, people who don't understand the phenomenon.

I never believed in cryptos and I didn't invest/missed the boat, but it's a totally new phenomenon that most people don't understand even today.

I always like thorough deep analysis, which "nay sayers" don't usually have.
The rate of adoption is tremendous, it spreads more than the internet, more than anything ever before!

This is the future in one form or the other. I think many people missed the boat, I didn't believe either that is was going to become so big.
When I first heard about it, it was around 25-30 $ and I considered it as "internet money", basically like a coupon at most.

So I never bought, didn't understand it thoroughly, but very few people did understand 10% of what we understand today. It was so unpredictable and
seemed to have so many flaws, limits etc.

I was fascinated about them technically, but never would have believed Bitcoin could even reach 10 k. But it did.

I always compared it to gold and silver and found that PM's would beat Bitcoin at any level: store of value, intrinsic value, more stable (PM's are not so
volatile), you hold it and you own it (cryptos are merely digital)... the early bubble made me think cryptos are merely in a tulip-bubble.

But today we're living in far more digitalized world and this environment simply works totally differently. It is a totally new phenomenon.

Michael Saylor and Raoul Pal are the most convincing and I listen to them a lot. All previous Bitcoiners were "armchair teenager experts with pimples" and
seeing who they are discredited cryptos in 3 seconds.

The early exchanges and wallets didn't have credibility. Chinese and Russian trading portals looked like spyware/adware/trojan virus nests and were scary
to just enter them. If anyone ever registered there and shared their personal data through KYC methods, they must have been nuts!

The early "alt coins" were pump and dumps.

So I never was a crypto guy, although I kept reading about them for a decade.

I always made sense to listen to Peter Schiff and Jim Rickards. PM's seemed to be sound assets and cryptos looked worse than fiat money.

Obviously I didn't understand enough about the entire crypto-phenomenon. Now I am astonished and I'm determined to learn more about it.

Now I listen to all: Saylor, Pal, Schiff, Rickards - they all make strong points. Today I couldn't say either one or the other is right/wrong.

I think they're all right and what's the common element is that fiat is going to dust. Cryptos, PM's all have future in my opinion as alternative investments.

I also think BTC is going to hit 100 k. They just need to invent something to make it consume less electricity.
 
The first time I became aware of it was when they announced parity with the US dollar. I don't know where from.

Edit: just shows you how fkn trash the dollar is too. So weak of a domino to fall without a squeak.
 
its the dollar 's soul trying to hang on something...like ghost in the shell
the spirit that lost its body...there is no place to return to
 
Indeed, a very big question is whether they can do something to make cryptos consume less electricity. Like this indeed, their future is limited.
 
The best performing major fiat currency is the CHF. The worst to own is the EUR.

And, just like Uneducated Economist believed, the US dollar is much stronger.
 
mmm....shiney! said:
It's called Proof of Stake.
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Is that enough? Just to stake cryptos...

I'm not sure what consumes most of the energy - probably the mining?

So once Bitcoin and Ethereum are past the mining stage (all will have been mined), then will that reduce their consumption of electricity?

Because downloading and synchronizing the wallets in my opinion will constantly require more and more electricity. More and more crypto history to download.

Or, they could make it really centralized (like the light wallets), that way the entire blockchain stays somewhere "central". But that throws away the basic idea of why decentralize cryptos exist.
 
TreasureHunter said:
I'm not sure what consumes most of the energy - probably the mining?
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Mining being computationally hard is arbitrary. They only made it hard to help decentralise it. Proof of stake removes the mining puzzle to make it fast and instead just does a quick hash of the block.

Since POS is centralised, I don’t really understand it's benefit over a traditional bank.
 
leo25 said:
Lol I would say all cryptos are in the business of creating credits out of thin air. It’s all in the air these days.
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Traditional banks are in the “create government backed fiat” out of thin air scheme. POS blockchains aren’t. ;)
 
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