Call the Top for BTC 2017?

[dozerz]

;_;

 

[SilverBags]

The reality is there is no blockchain crypto that can work at large scale volumes and still remain decentralised and i haven't heard one person give a real solution so far (Lightning is not a real solution). The reason Bitcoin Core limited to 1MB is because they know there is no solution and wanted to limit the blockchain growth rate. They then decided to make Bitcoin a settlement/savings chain, it's easy to achieve by having high fees so people stop using it for small transactions.

So anyone can come out and say we are going to support massive block sizes, but then it's going to be very hard to keep it decentralised. Now if it's centralised then there is no issue at all.

Btw that Blockchain Activity link you provided should not be used to make any judgement on how good a crypto functions and scales.

So i guess you didn't understand what i said. Yes anyone crypto can handle a lot of volume but it just means the blockchain will grow at a very fast rate. A rate that will make it very hard to remain decentralised.

Steem has only been popular for a short amount of time so the blockchain size is not an issue yet. But in only a few years it will be an issue. Also can someone provide me a link showing the current blockchain size of Steem? Because i can't seem to find it anywhere.

But here are some rough calculations. Atm block size limit is 65KB and per hour there are about 1200 blocks (78MB per hour). That's about 680GB per year and that assumes growth stops.

Also another big factor is people are assuming data storage will keep rapidly growing like we saw over the last 20 years. Atm a wall has been hit and HDD's are struggling to get bigger with out just stupidly adding more platters which make the HDD fail much faster. And SSD's in the TB are way too costly for most. Also if running that much data you will need to run a setup with error checking and redundancy. So now you are removing the vast majority of people from participating as a node.

@leo25
a fellow stacker has tried to enlighten you and all other members

see video on this link below >>>>
https://www.silverstackers.com/forums/index.php?threads/cardano.87366/

and may you see the light

Build It and They will come!
SB

 

[leo25]

@leo25
a fellow stacker has tried to enlighten you and all other members

see video on this link below >>>>
https://www.silverstackers.com/forums/index.php?threads/cardano.87366/

I watched that video and i don't see anything that is fundamentally new/better from what other cryptos are already doing or planning. As of now they have no real world solution. Maybe in time they might, but maybe in time other cryptos "might".

Like with most, it's a lot of talk/hope and little action.

 

[dozerz]

ponzi makes it onto the abc

 

[southerncross]

LOL, guy looks like he sharted himself.
Was just checking out an old Electrum wallet of mine, 12/01/2014 deposited 4.6 BTC in there, they cost me about a $950 each at the time. if only I just let them sit there.

 

[Teh silvers]

In ch 9 this morning the finance guy was talking about Bitcoin for 4 mins .lol.

 

[jerrygold]

Bitcoin and cryptocurrencies has probably made more millionaires in Australia in the last decade than anything else. Like always the dinosaurs in the media and government only realize it when the ship is in full sail.

 

[Ipv6Ready]

Well I’ve sold out and and have handful left. If they reach $30,000 USD I will sell a two more, than $50,000 and $100,000

Just like I’ve sold out of properties two years ago. I think I got out of property a little early but both BTC and Property have one similarities, in a selling market it will get ugly.

Most are going into rock solid defensive shares and speculating on oil and lithium shares.

A reckonimg will come within ten years, note I’m not predicting SHTF, at worst it will be the same as somewhat worse or not as bad as GFC in the US.

 

[jerrygold]

Well I’ve sold out and and have handful left. If they reach $30,000 USD I will sell a two more, than $50,000 and $100,000

Just like I’ve sold out of properties two years ago. I think I got out of property a little early but both BTC and Property have one similarities, in a selling market it will get ugly.

Most are going into rock solid defensive shares and speculating on oil and lithium shares.

A reckonimg will come within ten years, note I’m not predicting SHTF, at worst it will be the same as somewhat worse or not as bad as GFC in the US.

You have some very logical and thought out positions. Property is horrendous in investing in from my experience, so many taxes and regulations. Selling and buying takes so much time and can be delayed by banks and idiots. Maybe if you are dealing in multimillion dollar properties it is fine to deal with these hassles but how many people are doing that on a regular basis? The great thing with crypto investing is its so quick to realize losses and gains with very little fees or other idiots involved. Shares are ok too but bit more hassle. I assume you hold a fair amount of PMs too?