I think bitcoin makes no sense at all - page 2.

rumbitla

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Quote from: Leonsoft on August 27, 2013, 10:56:05 AM

I think bitcoin makes on sense at all.
A decentralized money means every client holds a central bank -- it's feasible only for a very small scale. The block chain is 10G today. It can grow up to 100...0GB if it wants to get the same position as usd or euro or cny -- obviously it's impossible.
Am I wrong?

I just bought a 64GB SD-Card for $20. Enough for a much bigger blockchain.

Yes, you are wrong.

DannyHamilton

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Please don't feed the trolls.

Peter Lambert

hero member

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It's all fun and games until somebody loses an eye

Quote from: Leonsoft on August 27, 2013, 10:56:05 AM

I think bitcoin makes on sense at all.
A decentralized money means every client holds a central bank -- it's feasible only for a very small scale. The block chain is 10G today. It can grow up to 100...0GB if it wants to get the same position as usd or euro or cny -- obviously it's impossible.
It's no better than an idiot comapring to current finacial system. It does not support transaction, rollback, tracing, etc.
When more people get involved, it will be a nightmare.
When SHA is hacked, everything is gone.
The rule for wealth is so ridiculous -- btc mining likes lottery. Is this better than rules in today's real world? No, it's just ridiculous.
It's just a new kind of Ponzi scheme. Everyone hope his btc will become more and more expensive so he can get rich without doing anything. I do not think they will succeed.

Am I wrong?

Look into "chain pruning" for reducing the size of the blockchain.

Not having transaction rollbacks is considered a positive attribute.

When SHA is hacked, then we can upgrade to a different algorithm.

It is not a ponzi scheme, you might want to do more research into what a ponzi scheme is. Bitcoin does not pay any interest.

Yes, you are wrong.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Welcome, you have a lot of reading to do my friend. Your observations have been noted and dispelled years ago. Bolck size, SHA, distribution, all have been addressed ad-nauseum. and the ponzi thing... Roll Eyes

Well, you have a lot of reading to do.

marcovaldo

sr. member

Activity: 350

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Yes you are wrong....

Leonsoft

newbie

Activity: 5

Merit: 0

I think bitcoin makes on sense at all.
A decentralized money means every client holds a central bank -- it's feasible only for a very small scale. The block chain is 10G today. It can grow up to 100...0GB if it wants to get the same position as usd or euro or cny -- obviously it's impossible.
It's no better than an idiot comapring to current finacial system. It does not support transaction, rollback, tracing, etc.
When more people get involved, it will be a nightmare.
When SHA is hacked, everything is gone.
The rule for wealth is so ridiculous -- btc mining likes lottery. Is this better than rules in today's real world? No, it's just ridiculous.
It's just a new kind of Ponzi scheme. Everyone hope his btc will become more and more expensive so he can get rich without doing anything. I do not think they will succeed.

Am I wrong?

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