Topic: beginner with triggering questions - only real men to answear (Read 201 times)

Bitcoin has always been a currency and will always be a currency (not digital gold) if it stops being a currency then it fails.
Quantum computers won't do anything to bitcoin, that is the nature of cryptography to become obsolete at some point. They all have an expiration date, when the cryptography used by bitcoin is close to that date it will simply be changed.

That's a mistake because you would be using a centralized shitcoin with a massive risk of disappearing at any moment. If you want price stability then use fiat (USD) instead of an altcoin!

Copying code is easy, creating something useful is not. That is why altcoins have been copying bitcoin for years (including Cardano) and failing to create anything useful.

They have already done it in many countries. For example bitcoin has been treated like any other currency in Japan for over 5 years now.

Like any other currency bitcoin will be used for a wide variety of reasons but illegal activities will always remain at the bottom of the list because of how transparent bitcoin blockchain is.

No altcoin has ever taken that long to be created. All of them are usually created within hours and some only months. This is exactly why we only have "shitcoins" instead of having alternative cryptocurrencies.

What difference does it make? They created garbage, sold it to idiots and made some money, whether it is $1 or $1million doesn't make a difference apart from showing how many idiots exist.

It is known that many altcoins aren't really good in terms of investment because they don't use cases and have low liquidity. But not all of it are in that category because just as you've mentioned about ADA (I don't have it btw), despite that you have mentioned factors that will make it look like the other ugly coins, it's still at the top of coin. And that means the community likes it and there's enough liquidity and volume into it. If people are using volatile coins to accept, it's not always the case that they want to accept it because it's volatile. It's about the adoption that they can see and it's convenient for these merchants if they've several cryptos to be accepted as payment.

If the quantum computer (if it really exists) can crack BTC, then anything using ECDSA is no longer secure. I bet it will be a catastrophic event. BTC won't be your main concern at that point.

Altcoins are also good for moving small funds because it's cheap.

No, 99% of ICO are a scam or at least soft scam.

guys,

thank you very much for help - that trick to check ether address of ICO if funds are really there is something I was not aware of.. thank you!

Well, for those ICO collected money, they usually give you address where you have to send funds and get their tokens. So you can always check that address on respective chain.

Quantum computers are an unknown that can induce chaos, just like war or a natural disaster are that unknown for every investor. We could call them black swan events for their respective environments.
 

Altcoins increase the value of the market. It's great that people are trying to build something on the idea introduced by Satoshi.
Altcoins that fail are like failed experiments. Do you think that we should stop experimenting?

The technology that is called "quantum computing" has gone through a lot of hype recently, as a huge number of computer scientists, academics, and quantum physicists are very optimistic about it. However, the topic of quantum computers is shrouded in mystery, as there are still a lot of unsolved problems with them. It may come as a surprise to hear, but there are a lot of things that quantum computers cannot do, and the full extent of that is starting to become clear to even the most hardcore of quantum computing researchers. They've discovered that classical computers are actually quite good at some things that quantum computers will never be able to do. Despite the early promises of a quantum computer that will one day break all of the existing algorithmic and computational rules that govern today's technology, we are still at least a decade away from making such a machine a reality.

It is silly to think that processing power will evolve and cryptography won't.



Not even fiat or gold has a stable price. Brazilian Real just lost 45% value in the last year...



This is why btc is different than the others. BTC doesn't need 3rd party approval, as it is decentralized, and its network cannot be shut down.


The problem is that most altcoins propose to create something they can't. And a lot of people invest millions in those projects, hoping to get even more money, but the developers just can't do what they proposed in the first place.... This is why our ecosystem is full of scams.

Not sure on the qualifications for "real man" so I may have broken your rule .


1. The coin with the biggest community will win (in a programming sense and mining/usage).

2. If the government made a crypto they'd get a lot of problems from it. Do you make it identify everyone and kill the Black Market? Or have they accepted black market trades may have a positive impact on the economy for them to just all go. Most companies price things off the price they were when the bought it, a supermarket could therefore use the bitcoin price from the week previous for selling foods and other stuff. I thought it was South and central American nations beginning to look at crypto. I think a lot of people in the EU could buy and use it if simplified though - there are a lot of etfs.

3 legitimate Icos use one address only so you may be able to trace it back to thst (this was just the ico I was in and I only did my first ico about 6 days ago).

1.BTC is not a digital gold nor for investments, it was supposed to be used as a currency without any middlemen.

2. a) Just eliminate the third party in the transaction, if you believe that tether can be used over BTC then you don't understand the importance of decentralization

b) BTC too have lot of clone and forked coins which doesn't mean it can run on its blockchain, they dev needs separate blockchain so its completely different and one who can differentiate can use the cryptos efficiently.

c) Decentralization doesn't need approval from anyone.

d) Fiat system also took lot of time and evolution before the system we currently we have.

3) Just check their smart contract address and find the claimed value is actually received or not because everything is transparent in blockchain technology.

Hey there! I wont tackle all of the questions, but I'll give my opinion on the first one and maybe some thoughts on the second one. Bitcoin seems to have the the aura of uncertainty and that's what is keeping it from establishing it as the digital gold. It's starting point as being the first in this field is a good sign of it potential, but until the volitile fluctuation is sorted out, that won't happen. As for quantum computing and security? Both fields will develop simultaniusly so I don't see much issue there. As for other coins, I see them finding a niche where they will provide some value but will not be anywhere near bitcoin.

Hi guys,

BUY CHILLZ - TO THE MOOON! - just kidding.. you must love first posts like that, right..?

well, to the business - I'm interested in crypto from 2017 and well, it's up again so also is my interest and I have a few very naive,
beginner guestions, but maybe somebody can give me a good insight. and yes - I care about money (I'm just honest..).

what I believe (and would like to hear input from old crypto guys

1) BTC - the only future - digital gold. that's it (until quantum computers don't crack it in minutes)

2) all other coins - totally unusable, only good for pump and dump.
Based on:
Cardano as an example of alt coin but don't have to be (I'm HODLing it btw) ->

   a) what is the real usecase? If I wan't to send money, I need price stability -> I will use tether (don't kill me..).
   I don't want a coin what is 1USD today but 0.8 or 1.5 tomorrow for real money transfers. So now what.. wait 10 years to cardano has stable price?
        Not even my friends want lunch money back in crypto.

   b) It's open source -> anybody can clone it to new coin name and use it so no sense for bigger ecosystem to adapt to cardano.

   c) governments will NEVER approve 3rd party coin for paying (any coin) -> they will create their own coin (very easy with having
   so much open source coins already working good) and they will control emission and everything -> it will never be anarchy like
   reddit kids are hoping for. only shade market will use tether or BTC for drugs, weapons and good old trafficking of hot 16yo Romania women.

   d) seems like alt coins development guys just taking time and money from it - why it takes so long to develop? like 10 pro developers need 10 years
   for creating one coin system based on another working opensource codes? it makes no sense for me..
   idea+development+testing = so many years?? with literally 37 BILLIONS invested? ok, that's today price but you got my point - it takes
   so unrealistic long all that development.

        e) hype news like talking with (insert random Africa country name) government of implementing it -> really? in Africa? even in EU, most people are not tech savy
        enough to use crypto - so africa is the best continent for implementing crypto for daily use? well.. looks shady as f...





3) many ICO state that they collected millions USD pre-sale (or how it is called) -> is there any way to check, if the money was really collected?
I think somebody can create new coin, start ICO campaign and say that 10 millions USD were collected - but is that true? Many investors can invest in
coin when they see that the project is loaded hard (like on kickstarter) but in reality, is the money really there?

So those my thinking about crypto and my last weeks thinking so maybe somebody more experienced will reply or some good discussion will be there, if I see it correctly or
am I missing something..?


thanx...