Topic: Please stop the 'manipulation' bullshit. (Read 3339 times)
Learn some manners, faggot. Then we'll talk
You're missing the point. Some here think that by buying 1BTC, they are buying 1/21millionth of the technology. I'm simply pointing out that's nonsense.
Actually you are buying 1/21 millionth of the total digital units of an instance of the most sophisticated, actively developed, global, decentralized, secure transactions network the world has ever seen...
That's why buying 1/21 millionth of an altcoin costs 1000 times less despite the fact that the underlying technology is almost identical...
FTFY.
an instance of?
what other instance of blockchain ledger has gained any traction?
caution, troll, don't mistake infrastructure for "sunken capital" again troll
You're missing the point. Some here think that by buying 1BTC, they are buying 1/21millionth of the technology. I'm simply pointing out that's nonsense.
Actually you are buying 1/21 millionth of the total digital units of an instance of the most sophisticated, actively developed, global, decentralized, secure transactions network the world has ever seen...
That's why buying 1/21 millionth of an altcoin costs 1000 times less despite the fact that the underlying technology is almost identical...
FTFY.
You're missing the point. Some here think that by buying 1BTC, they are buying 1/21millionth of the technology. I'm simply pointing out that's nonsense.
Actually you are buying 1/21 millionth of the total digital units of the most sophisticated, actively developed, global, decentralized, secure transactions network the world has ever seen...
That's why buying 1/21 millionth of an altcoin costs 1000 times less despite the fact that the underlying technology is almost identical...
You're missing the point. Some here think that by buying 1BTC, they are buying 1/21millionth of the technology. I'm simply pointing out that's nonsense.
...
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition.
If I said automotive technology is valuable to mankind, would you assume I meant Chevy?
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition.
If I said automotive technology is valuable to mankind, would you assume I meant Chevy?
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
The analogy was meant to help you understand that bitcoin is a technology that has applications (digital cash)... Obviously the two protocols have different characteristics...
^
As much as I admire your ability to post smileys, the rest of your typings disappoint.
In the future, please try to make your comments coherent, relevant and concise.
Or simply stick to playing vidya.
As much as I admire your ability to post smileys, the rest of your typings disappoint.
In the future, please try to make your comments coherent, relevant and concise.
Or simply stick to playing vidya.
@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition.
If I said automotive technology is valuable to mankind, would you assume I meant Chevy?
so you're part of that blockchain not bitcoin clown group heh.
how has clonecoin success worked out so far? when should we expect them to catch up?
sunk capital
surely you mean security & infrastructure right? I thought you were smarter than that, even in your trolling, disappointed
Everyone will have faith in a truly decentralized blockchain. eGold was nothing like that. It wasn't new technology. The blockchain is and every new technology stays forever and advances.
I have to agree with you in this. Any coin can succeed, but the more useful it is or the most trust its blockchain applications require, the more valuable it will be. It doesn't have to be bitcoin the one that will succeed (if it is one..).
Wrong... bitcoin must succeed or no one will have faith in alt currency for another 5 or so years like after e-gold
I have to agree with you in this. Any coin can succeed, but the more useful it is or the most trust its blockchain applications require, the more valuable it will be. It doesn't have to be bitcoin the one that will succeed (if it is one..).
@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
The blockchain can be duplicated as many times and for as many different applications as need be. Clonecoin. This particular instance of he technology--the Bitcoin blockchain--is no more elegant than a clone, so not particularly valuable beyond its current sunk capital (miners, etc.) & brand recognition.
If I said automotive technology is valuable to mankind, would you assume I meant Chevy?
@NotLambchop
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
But, your opinion seems to be that the protocol/technology is valuable, therefore the coins should also be. When more applications are developed for the blockchain and adoption increases, the more valuable the protocol becomes, the more expensive the coins become.
...
I am sure many ISP provides made good money selling Internet to the people...
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
I am sure many ISP provides made good money selling Internet to the people...
Yes, just like I'm sure many exchanges made good money selling you Bitcoin. I'm not suggesting that no one profits from the internet, just that the value of bitcoin (the unit of account) is not the same as the value of the technology.
@stefanf: I agree with you, but there's nothing to suggest that today's BTC price reflects the value of the technology. There's even less to suggest that the price would rise.
Solving a block must be rewarded for people to continue mining, but there's no reason for the reward to be high if the network's total worth (the profit which could be had by compromising it, etc.) is low.
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
Bitcoin the "protocol/technology" can't work without itself being a currency (something with value).
Without value attached to its blocks, what is the incentive for miners? Only big miners? Then what's the trust in the protocol?
Decentralization requires the blocks to carry their own value for the miner.
Isn't buying otc more expensive? Why would anyone do that just to keep the exchange rate low? What's the gain?
Correct, OTC is more expensive. People usually buy from the exchanges to sell OTC.
Or, they find a OTC miner that can sell below bitstamp then they turn around and sell to retail buyers OTC (rather than making a tiny % selling on exchange).
Why would a miner sell below regular price? That doesn't make sense.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
I am sure many ISP provides made good money selling Internet to the people...
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
Wrong, many who bought .com domains made a fortune.
.com domains have nothing to do with "protocol/technology." See boldface above.
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
Wrong, many who bought .com domains made a fortune.
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
Bitcoin the "protocol/technology" in your analogy would be tcp/ip. To my knowledge, no one made a fortune buying "shares of internet."
You can't compare the internet to Bitcoin. Sure, many people didn't know the use of it 20 years ago. But it was a completely new thing. Bitcoin is money.
Bitcoin is not money just like the internet is not a digital version of USPS... Bitcoin is a protocol/technology. One of its applications is digital cash.
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