Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24796.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: mooncake on October 31, 2014, 01:01:54 AM

I should clarify myself. It is possible that there were attempts to create Internet 1, Internet 2, and so on. They just did not catch on, and scale to the Internet that we know today.

Actually there were many long-range computer networks before and contemporaneous with the Internet:

https://en.wikipedia.org/wiki/BITNET
https://en.wikipedia.org/wiki/FidoNet
https://en.wikipedia.org/wiki/UUCP
https://en.wikipedia.org/wiki/CompuServe
https://en.wikipedia.org/wiki/Asynchronous_Transfer_Mode

Until the late 1980s the Internet was limited to some universities and some large companies; other networks like UUCP and BITNET reached many more hosts than the Internet did. The latter became the dominating network only after it was opened to general public. And that was still before the WWW was invented.

So, is Bitcoin like BITNET, or like Internet?
[/quote]

touhonoob

newbie

Activity: 42

Merit: 0

Quote from: mooncake on October 31, 2014, 01:04:07 AM

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

Huge adoption on November in Japan:

1. Kraken Launches in Japan
2. GMO-PG Enables 48000 Merchants Using Bitcoin as Payment Option
3. BitFlyer Rises $236000
4. Rakuten Accepts Bitcoin

mooncake

sr. member

Activity: 434

Merit: 250

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

mooncake

sr. member

Activity: 434

Merit: 250

Quote from: JorgeStolfi on October 31, 2014, 12:24:28 AM

Quote from: spooderman on October 31, 2014, 12:05:16 AM

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not? Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

I should clarify myself. It is possible that there were attempts to create Internet 1, Internet 2, and so on. They just did not catch on, and scale to the Internet that we know today.

Using the above analogy, there were, are, and will be attempts to create Bitcoin 1, Bitcoin 2 or in general terms, cryptocurrencies. They just did not, have not, and possibly will not catch on, and scale to the Bitcoin that we know today.

The next question is: Why is that so? To answer this, try to find out why alternative networks did not catch on, and scale to the Internet that we know today.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

LOL. Now THAT needs framing.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: JorgeStolfi on October 31, 2014, 12:24:28 AM

Quote from: spooderman on October 31, 2014, 12:05:16 AM

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not? Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

Do altcoins need to die? Maybe they will find their niche. Maybe Bitcoin will become so big it becomes politically charged and an altcoin becomes it's rival?

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: spooderman on October 31, 2014, 12:05:16 AM

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not? Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

AviThour

newbie

Activity: 28

Merit: 0

Quote from: ?? on ??

Bored.

Thats a useless post to get more posts.. Undecided

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: mooncake on October 31, 2014, 12:14:06 AM

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

This is really an interesting question. What is stopping the creation of Internet 2, Internet 3, and so on?

And yes, this question is really answering to the previous question, similar to the other thread on "Answering the question with another question". Grin

Actually Bitpay may be creating Internet 2.0

mooncake

sr. member

Activity: 434

Merit: 250

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

This is really an interesting question. What is stopping the creation of Internet 2, Internet 3, and so on?

And yes, this question is really answering to the previous question, similar to the other thread on "Answering the question with another question". Grin

WoopDeBoop

full member

Activity: 271

Merit: 101

Quote from: cbeast on October 30, 2014, 11:45:25 PM

Exactly. Buffett doesn't need to worry about the new technologies because he's mature and mature-means-old-and-old-means-dead.

Buffet is also full of shit and is a large ~~manipulator~~ player in the commodities market whilst claiming he never gets involved in commodities.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: DieJohnny on October 31, 2014, 12:03:39 AM

Quote from: noobtrader on October 30, 2014, 10:19:09 PM

Quote from: Walsoraj on October 30, 2014, 10:16:30 PM

Quote from: noobtrader on October 30, 2014, 10:15:07 PM

Quote from: Walsoraj on October 30, 2014, 09:42:41 PM

Will feel great when investment bankers start pumping.

unless banker think like warren buffet and regard ripple as a blank cheque. (u dont pump on blank cheque right ?)

First, I admit to understanding very little of what you said. Second, why not?

Buffett: “It’s a mirage basically, it’s a method of transmitting money, it’s a very effective way of transmitting money and you can do it anonymously and all that… a check is a way of transmitting money, too. Are checks worth a whole lot of money?”

The more I hear Buffett talk about Bitcoin the more certain I am that Bitcoin will succeed. What happens when rich people start to actually understand Bitcoin, it obviously hasn't happened yet.... holy shit

OTOH he is probably buy bitcoins on the down low, like he did with IBM stock.

spooderman

legendary

Activity: 1680

Merit: 1045

Quote from: cbeast on October 31, 2014, 12:00:26 AM

Quote from: molecular on October 30, 2014, 11:56:28 PM

Quote from: Erdogan on October 30, 2014, 08:51:53 PM

EDIT: This should have been posted in the gold collapsing thread...

you mean the "sidechain" thread Wink

OMG, we're not going to start side chaining threads now? My head will explode.

well, in some of the threads, your head doesn't explode so it's ok.

spooderman

legendary

Activity: 1680

Merit: 1045

Quote from: cbeast on October 30, 2014, 11:52:22 PM

Quote from: JorgeStolfi on October 30, 2014, 11:51:25 PM

Quote from: spooderman on October 30, 2014, 11:39:23 PM

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Ugh Jorge. I didn't know you responded to me but people will insist on quoting you driving me to respond to your idiocy.

Yes there is more than one cryptocoin.

I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.

It has a network difficulty of 1 and is completely useless.

But yes let us pretend that network strength is not a factor. You've been "intellectually trolling" us here for a year or so, almost gaining hero status, but have failed to learn/acknowledge the most simple elements of what bitcoin is, what cryptocurrencies are, and what the relevant factors are in their utility and reliability.

DieJohnny

legendary

Activity: 1639

Merit: 1006

Quote from: noobtrader on October 30, 2014, 10:19:09 PM

Quote from: Walsoraj on October 30, 2014, 10:16:30 PM

Quote from: noobtrader on October 30, 2014, 10:15:07 PM

Quote from: Walsoraj on October 30, 2014, 09:42:41 PM

Will feel great when investment bankers start pumping.

unless banker think like warren buffet and regard ripple as a blank cheque. (u dont pump on blank cheque right ?)

First, I admit to understanding very little of what you said. Second, why not?

Buffett: “It’s a mirage basically, it’s a method of transmitting money, it’s a very effective way of transmitting money and you can do it anonymously and all that… a check is a way of transmitting money, too. Are checks worth a whole lot of money?”

The more I hear Buffett talk about Bitcoin the more certain I am that Bitcoin will succeed. What happens when rich people start to actually understand Bitcoin, it obviously hasn't happened yet.... holy shit

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ