Too many Wolves in Sheep clothing | Bitcointalksearch.org

Digital_Lord

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Quote from: rezurect on March 22, 2018, 10:08:24 AM

Quote from: Ucy on March 22, 2018, 10:04:34 AM

They have invaded the entire Crypto space with abominations they call Cryptocurrencies.

Here are characteristics of Cryptocurrency

In my opinion these are what should be considered before investing in Cryptocurrencies:

* They must be Decentralized on public Blockchain.

* They must be very secured

* They must be Opensource.

* Must respect users privacy. Identify should not matter (for good reasons) as far as Crypto/Blockchain is concerned.

* Must be Mineable.

* must be Deflationary.

* Blockchain cannot be altered or regulated by humans.

The worst part is other newbs who support all these coins.
How could you be in crypto and not care for something basic like decentralization, mind blowing.

Well, if first crypto currency that was launched was decentralized doesn’t mean that every other must be. Decentralization defines bitcoin and not crypto currencies. Newbies are right to support it. It’s just people like you that aren’t able to differentiate what the meaning of bitcoin is and what crypto currencies stand for.

As long as a coin is based on technology like blockchain, solving problems and is of some utility, it’s surely a crypto currency for me. Decentralization or not doesn’t matter to me as long as there is development of blockchain technology and we see some great utilities.

d1ceplayer

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Quote from: onnz423 on March 23, 2018, 07:55:14 PM

The problem with the privacy aspect, is that by having a private cryptocurrency you cannot necessarily tell whether or not the total supply has increased, making it very simple for market manipulation to occur by the founders. Zcash and Monero are such currencies where the total supply cannot be known with any certainty.

That’s true. Sometimes it might prove dangerous for the investors and the supporters if you don’t know what the total supply is and are currently just dependent on the circulating supply. As the total supply is not known, it’s said to have unlimited supply which surely will reduce the value of the coins in the mean time as the demand will be more and so will be the supply. Both going in the same way = stagnant price or degrading price if the ratio of demand is not higher than released supply.

Kiweikoo

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Quote from: Ucy on March 22, 2018, 10:04:34 AM

They have invaded the entire Crypto space with abominations they call Cryptocurrencies.

Here are characteristics of Cryptocurrency

In my opinion these are what should be considered before investing in Cryptocurrencies:

* They must be Decentralized on public Blockchain.

* They must be very secured

* They must be Opensource.

* Must respect users privacy. Identify should not matter (for good reasons) as far as Crypto/Blockchain is concerned.

* Must be Mineable.

* must be Deflationary.

* Blockchain cannot be altered or regulated by humans.

Bitcoin was the first crypto currency that had all the features you have stated above. Does that mean features of bitcoin equals features of crypto currencies? Well, I don’t think so.

What does it even matter if crypto currencies are centralized and non-minable as long as they are based on the same technology called blockchain and other like it? There are other crypto currencies like IOTA, etc that aren’t even based on blockchain technology and operates on Tangle technology.

The features you stated above are of bitcoin my friend and not crypto currencies. Seems like you are an abomination to this market because you can’t understand the meaning of it.

katrimans

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Quote from: invest2lose on March 23, 2018, 07:52:01 PM

Quote from: sylance on March 22, 2018, 10:15:22 AM

I completely agree with this and I also believe this is a move by governments and banks to subvert what crypto stands for. Essentially bitcoin was started to free us from banks and governmental control of money but then here comes Ripple. I just read IvyKoin and their primary use case is the opposite of privacy... they're advertising how much KYC data flows with each transaction.

yeah and bitcoin is decentralized? hahaha don't make me laugh you stupid retard

Well you are making all of us laugh actually. Truly I don’t support that crypto currencies are bound to be decentralized and minable, but bitcoin is truly decentralized. It is controlled by no one except it is controlled by everyone, if you understand what I mean. Bitcoin is based on decentralized technology and removes the need of third party interference.

Moreover the transactions done are untraceable and anonymous. The security and privacy that bitcoin provides is due to the fact that it’s decentralized. Bitcoin though is manipulated by many factors, but no one controls its prices except all the people that hold it. so I don’t think he is retard, it seems like you are the one here who doesn’t know if bitcoin is decentralized or not.

onnz423

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The problem with the privacy aspect, is that by having a private cryptocurrency you cannot necessarily tell whether or not the total supply has increased, making it very simple for market manipulation to occur by the founders. Zcash and Monero are such currencies where the total supply cannot be known with any certainty.

invest2lose

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Quote from: sylance on March 22, 2018, 10:15:22 AM

I completely agree with this and I also believe this is a move by governments and banks to subvert what crypto stands for. Essentially bitcoin was started to free us from banks and governmental control of money but then here comes Ripple. I just read IvyKoin and their primary use case is the opposite of privacy... they're advertising how much KYC data flows with each transaction.

yeah and bitcoin is decentralized? hahaha don't make me laugh you stupid retard

Gab20

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Activity: 714

Merit: 3

In my opinion, i feel a scam coin or project can also duplicate the same process. Sometimes even if there is coin doesn't fail at the start, it might not succeed in the long run despite possessing all. There are much more to observe so as not to fall victim. Although, some of these thing are games of chance. Many still need to be done to ensure that the crytospace is becomes safe and free of all forms of misconducts.

poodle63

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Quote from: Ucy on March 22, 2018, 10:04:34 AM

They have invaded the entire Crypto space with abominations they call Cryptocurrencies.

Here are characteristics of Cryptocurrency

In my opinion these are what should be considered before investing in Cryptocurrencies:

* They must be Decentralized on public Blockchain.

* They must be very secured

* They must be Opensource.

* Must respect users privacy. Identify should not matter (for good reasons) as far as Crypto/Blockchain is concerned.

* Must be Mineable.

* must be Deflationary.

* Blockchain cannot be altered or regulated by humans.

The true decentralized thing is only the blockchain which has been used POW system but in fact, that was wasting a lot of resources and this need to be fixed. But i'm not sure if that must be opensource because the scammers can take the code to create a similar blockchain system.

But still, blockchain is an experiment and need the more development progress to become a perfect system without any bug. That's so difficult to complete all of the requirements that you have been mentioned.

adekogbe

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For the purpose of education, this is educating, but I really do not understand what you mean by ask cryptos should be minable, there are some top coins on coinmarketcap that carry the non-minable tag does this mean they are bad projects??
Please explain.

aalborg

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I cannot understand the value of information in this topic. Is it for newbies like aducational information? If yes, it is okey, but I believe that all basic information about cryptos they can find in other e-resources. If they join this site, they should already know a bit about cryptos.

thefaucetrunner

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I totally agree. People are using crypto as a front to justify selling people little more than raffle tickets that they completely control. A lot of the tokens are distributed in the most ridiculous ways, including many popular and mainstream cryptos. Mining is great because it allows the supply of token to adjust to the demand, rather than being decreed into existence by the people at the top, as with fiat and phony tokens. Who controls the nodes is very important too. If 3 people own 40% of the tokens or all of the physical nodes, that is not good at all.

Vit83

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It is hard to create technologies on open source that will cost billions of dollars) It is like windows on open source) How can you take money for your product if anyone can copy your code) The most problem I see now is the real usage of crypto in the real world it is very low now IMHO for too many projects.

sylance

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I completely agree with this and I also believe this is a move by governments and banks to subvert what crypto stands for. Essentially bitcoin was started to free us from banks and governmental control of money but then here comes Ripple. I just read IvyKoin and their primary use case is the opposite of privacy... they're advertising how much KYC data flows with each transaction.

rezurect

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Activity: 686

Merit: 250

Quote from: Ucy on March 22, 2018, 10:04:34 AM

They have invaded the entire Crypto space with abominations they call Cryptocurrencies.

Here are characteristics of Cryptocurrency

In my opinion these are what should be considered before investing in Cryptocurrencies:

* They must be Decentralized on public Blockchain.

* They must be very secured

* They must be Opensource.

* Must respect users privacy. Identify should not matter (for good reasons) as far as Crypto/Blockchain is concerned.

* Must be Mineable.

* must be Deflationary.

* Blockchain cannot be altered or regulated by humans.

The worst part is other newbs who support all these coins.
How could you be in crypto and not care for something basic like decentralization, mind blowing.

Ucy

sr. member

Activity: 2576

Merit: 401

They have invaded the entire Crypto space with abominations they call Cryptocurrencies.

Here are characteristics of Cryptocurrency

In my opinion these are what should be considered before investing in Cryptocurrencies:

* They must be Decentralized on public Blockchain.

* They must be very secured

* They must be Opensource.

* Must respect users privacy. Identify should not matter (for good reasons) as far as Crypto/Blockchain is concerned.

* Must be Mineable.

* must be Deflationary.

* Blockchain cannot be altered or regulated by humans.

Topic: Too many Wolves in Sheep clothing (Read 137 times)