Why Bitcoin is doomed to fail, and there's nothing you can do about it. - page 9.

dewdeded

legendary

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Monero Evangelist

Quote from: dissident on January 07, 2014, 05:01:14 PM

after doing some more research I don't think bitcoin itself will be the one that remains strong long term, nor litecoin. Blockchain sizes and transaction times will have to be dealt with. My guess is that some altcoin at some point with faster transaction times and newer technologies to perhaps eliminate having to keep a blockchain of every transaction ever recorded will replace bitcoin... I don't know the technical specs if even say wiping all blockchain transactions older than 90 days would work but that's what I would do... 10+ minute transaction times is simply not going to spur widespread adoption... so there's still time to speculate on altcoins.

OMG, great research you did. Never heard these thoughts before. Really impressed.

BTC-TK

member

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Worst case scenario Bitcoin fails but we still have dozens of other crypto? Surely at least one of them will prove to be resilient.

dissident

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after doing some more research I don't think bitcoin itself will be the one that remains strong long term, nor litecoin. Blockchain sizes and transaction times will have to be dealt with. My guess is that some altcoin at some point with faster transaction times and newer technologies to perhaps eliminate having to keep a blockchain of every transaction ever recorded will replace bitcoin... I don't know the technical specs if even say wiping all blockchain transactions older than 90 days would work but that's what I would do... 10+ minute transaction times is simply not going to spur widespread adoption... so there's still time to speculate on altcoins.

coga

full member

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www.btcbuy.info

Quote from: tropicalmonsoon on December 15, 2013, 02:24:50 PM

Go debate Stefan Molyneux about this... He'll destroy you Wink

Moly is demagogue, he'll destroy anyone in debate, no matter how weak his point is

taltamir

full member

Activity: 196

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Quote from: ainz on January 07, 2014, 01:52:31 PM

Quote from: Bitcoinpro on January 05, 2014, 09:40:17 AM

Quote from: ainz on December 29, 2013, 08:03:13 AM

Riiiiiiiiight, deadgiveaway (sarcasm). Those billions of people that can't afford a pencil, never mind access to a semi-decent education, are all inherently "stupid". This is all about creating a new oligarchy of "high IQ" elites who'll be free to exploit and abuse the rest selfishly.... a marvellous step forward for humanity!

Thanks for your post. You've greatly enlightened me regarding the noble and egalitarian ideals of Bitcoin and cryptos in general. Feel free to label me a "faggot" too; not homosexual but not homophobic either, so I won't be offended in the slightest.

If this important piece of innovation dies... I won't hesitate to rest the blame squarely at megalomaniacs like you that seek to selfishly twist and corrupt it. No wonder Satoshi stayed anon and left the forum years ago... he's undoubtedly ashamed to be associated with the likes of you.

you mean those billions of people that can't read or write but love using their smartphone ?

The poorest (i.e. those "billions") can't afford high-end smartphones; they're using e.g. Series 3 Nokias for SMS and calls.

And they do so without being able to read, write, or afford a pencil! Amazing!

Quote

Anyway; my objection was to deadgiveaway's assertion that anyone who doesn't understand cryptos is inherently stupid and not worthy of consideration.

I agree with that objection. Its just that you started spouting nonsense unrelated to that after making said objection.

ainz

newbie

Activity: 11

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Quote from: Bitcoinpro on January 05, 2014, 09:40:17 AM

Quote from: ainz on December 29, 2013, 08:03:13 AM

Riiiiiiiiight, deadgiveaway (sarcasm). Those billions of people that can't afford a pencil, never mind access to a semi-decent education, are all inherently "stupid". This is all about creating a new oligarchy of "high IQ" elites who'll be free to exploit and abuse the rest selfishly.... a marvellous step forward for humanity!

Thanks for your post. You've greatly enlightened me regarding the noble and egalitarian ideals of Bitcoin and cryptos in general. Feel free to label me a "faggot" too; not homosexual but not homophobic either, so I won't be offended in the slightest.

If this important piece of innovation dies... I won't hesitate to rest the blame squarely at megalomaniacs like you that seek to selfishly twist and corrupt it. No wonder Satoshi stayed anon and left the forum years ago... he's undoubtedly ashamed to be associated with the likes of you.

you mean those billions of people that can't read or write but love using their smartphone ?

The poorest (i.e. those "billions") can't afford high-end smartphones; they're using e.g. Series 3 Nokias for SMS and calls. That's why payment systems like M-Pesa, already widespread in parts of Africa, provide SMS-based interfaces for their users. Anyway; my objection was to deadgiveaway's assertion that anyone who doesn't understand cryptos is inherently stupid and not worthy of consideration. He sounds like another cryptonerd who's been raging at the world from his basement for waaaaaayyyyyyyy too long.

If the goal is to replace central-bank controlled currency (that serves the elite few) with a fair alternative, then it's the poorest and least educated in this world that should be right at the top of the priority list.

2bfree

sr. member

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I'm investigating Crypto Projects

man I was about to take the plunge and buy my first bitcoin now you got me all wired up. Nah, I think I'll give it a shot and get it anyway.

silverfuture

legendary

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central banking = outdated protocol

don't blame the blockchain for your own ineptitude. email was clunky to work with at one time too and it seems to have become a smashing success despite early challenges including adoption. some people see problems and say it won't work, some see opportunities and get busy. which are you?

giveBTCpls

sr. member

Activity: 322

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Blockchain is a pain in the ass. Every software update there is some problem with the blockchain and the only workaround was to delete it and re-download taking 3 days for that. Fucking bullshit.

vpitcher07

sr. member

Activity: 342

Merit: 250

The only one of those points that concerns me is the blockchain size. I'm not so worried about the size of the blockchain once it's on the computer, but rather getting it onto the computer. Internet DL speeds are not adopting at the speed in which harddrive size is. For example, i've had highspeed internet for years now and i've only seen a couple mbps (that's megbits not bytes) boost from when I first got it. My point being, if the blockchain is 100TB and we have 7 Petabyte drives, we still might be only downloading at 10 MBps (megabytes)...

Bitcoinpro

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Quote from: ainz on December 29, 2013, 08:03:13 AM

Quote from: ?? on ??

Quote from: Peter R on December 27, 2013, 11:50:09 AM

Quote from: deadgiveaway on December 27, 2013, 11:31:10 AM

That's the beauty of Bitcoin. It wasn't designed to serve everyone, it was designed to give a chance to that .01% society who have high IQ but were shut out by the corruption in this world. I mean, who really gives a shit about making it work for *everyone*? Fuck the average person.

In addition to what you said being untrue, it comes off as smug and elitist. Bitcoin would be good for the world and the vast majority of humans inhabiting it (except perhaps some dinosaur bankers and corrupt politicians).

The average person may not understand the intricacies of our monetary system, but they are certainly not stupid.

Yes they are and you're a faggot if you think otherwise. Simple as that.

Oh, and you can suck my smug cock and gobble all the jizz.

Riiiiiiiiight, deadgiveaway (sarcasm). Those billions of people that can't afford a pencil, never mind access to a semi-decent education, are all inherently "stupid". This is all about creating a new oligarchy of "high IQ" elites who'll be free to exploit and abuse the rest selfishly.... a marvellous step forward for humanity!

Thanks for your post. You've greatly enlightened me regarding the noble and egalitarian ideals of Bitcoin and cryptos in general. Feel free to label me a "faggot" too; not homosexual but not homophobic either, so I won't be offended in the slightest.

If this important piece of innovation dies... I won't hesitate to rest the blame squarely at megalomaniacs like you that seek to selfishly twist and corrupt it. No wonder Satoshi stayed anon and left the forum years ago... he's undoubtedly ashamed to be associated with the likes of you.

you mean those billions of people that can't read or write but love using their smartphone ?

jmevz

sr. member

Activity: 251

Merit: 250

"Even if they allowed Bitcoin to become successful, they will regulate it so heavily, that it will pretty much lose any “benefits” that it had, (Europe is preparing to tax and regulate Bitcoin) and pretty much becomes centralized and just like anything else. "

Of course it will be regulated and taxed when it 'becomes' a currency, and you should be paying tax on your earnings now. But it will still be peer to peer.

ainz

newbie

Activity: 11

Merit: 0

Quote from: ?? on ??

Quote from: Peter R on December 27, 2013, 11:50:09 AM

Quote from: deadgiveaway on December 27, 2013, 11:31:10 AM

That's the beauty of Bitcoin. It wasn't designed to serve everyone, it was designed to give a chance to that .01% society who have high IQ but were shut out by the corruption in this world. I mean, who really gives a shit about making it work for *everyone*? Fuck the average person.

In addition to what you said being untrue, it comes off as smug and elitist. Bitcoin would be good for the world and the vast majority of humans inhabiting it (except perhaps some dinosaur bankers and corrupt politicians).

The average person may not understand the intricacies of our monetary system, but they are certainly not stupid.

Yes they are and you're a faggot if you think otherwise. Simple as that.

Oh, and you can suck my smug cock and gobble all the jizz.

Riiiiiiiiight, deadgiveaway (sarcasm). Those billions of people that can't afford a pencil, never mind access to a semi-decent education, are all inherently "stupid". This is all about creating a new oligarchy of "high IQ" elites who'll be free to exploit and abuse the rest selfishly.... a marvellous step forward for humanity!

Thanks for your post. You've greatly enlightened me regarding the noble and egalitarian ideals of Bitcoin and cryptos in general. Feel free to label me a "faggot" too; not homosexual but not homophobic either, so I won't be offended in the slightest.

If this important piece of innovation dies... I won't hesitate to rest the blame squarely at megalomaniacs like you that seek to selfishly twist and corrupt it. No wonder Satoshi stayed anon and left the forum years ago... he's undoubtedly ashamed to be associated with the likes of you.

gambit1

hero member

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I'm sorry that the OP sold all his bitcoins at a low price (I understand that this is what happened). Trolling the bitcoin won't help, but I feel for you.

taltamir

full member

Activity: 196

Merit: 100

Quote

Actually I was wondering, what if some beneficiary of current system buys all BTC and destroys his hard drive? Wouldn't it mean that BTC is lost?

Reminds me of extre nutcase christians going to a bookstore, buying all copies of harry potter, and burning them.
And then being surprised that it didn't work in reducing circulation of the books.

Geez

newbie

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Merit: 0

Quote from: deadgiveaway on December 27, 2013, 11:31:10 AM

That's the beauty of Bitcoin. It wasn't designed to serve everyone, it was designed to give a chance to that .01% society who have high IQ but were shut out by the corruption in this world. I mean, who really gives a shit about making it work for *everyone*? Fuck the average person.

Then why do most people in this thread (including you) have such a low IQ? They shouldn't even be able to use BTC and yet they are.

Quote

Actually I was wondering, what if some beneficiary of current system buys all BTC and destroys his hard drive? Wouldn't it mean that BTC is lost?

That's completely impossible because
1. Not everybody sells their BTC
2. Even if everyone did and one entitiy would buy more and more BTC from people and take them away from the market, the price would continuously skyrocket in a ridiculous way that at some point even the richest man on earth would run out before he owns all Bitcoin.
3. Even if someone was rich enough to buy all Bitcoin right now, he'd only have about 50% of the total amount of Bitcoins.

@OP
I really wanna see how any government wants to regulate a global currency. Sure they can tax stores that use BTC, but that's about as far as it goes.

dc0ded

newbie

Activity: 41

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Quote from: JohnyBigs on December 15, 2013, 03:11:38 PM

Quote from: dorcorax on December 15, 2013, 02:46:11 PM

Actually I was wondering, what if some beneficiary of current system buys all BTC and destroys his hard drive? Wouldn't it mean that BTC is lost?

They can't currently do that as all the coins have never been made yet, but if someone theoretically did that then yes they would all be destroyed.

Good effort mate. But I don't think that bitcoin is going anywhere.

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: deadgiveaway on December 27, 2013, 11:31:10 AM

That's the beauty of Bitcoin. It wasn't designed to serve everyone, it was designed to give a chance to that .01% society who have high IQ but were shut out by the corruption in this world. I mean, who really gives a shit about making it work for *everyone*? Fuck the average person.

In addition to what you said being untrue, it comes off as smug and elitist. Bitcoin would be good for the world and the vast majority of humans inhabiting it (except perhaps some dinosaur bankers and corrupt politicians).

The average person may not understand the intricacies of our monetary system, but they are certainly not stupid.

deadgiveaway

full member

Activity: 182

Merit: 100

That's the beauty of Bitcoin. It wasn't designed to serve everyone, it was designed to give a chance to that .01% society who have high IQ but were shut out by the corruption in this world. I mean, who really gives a shit about making it work for *everyone*? Fuck the average person.

applelover

full member

Activity: 160

Merit: 100

JohnnyBigs,

1) Can you please elaborate on point #2 about Gavin meeting with the CIA and Satoshi disappearing?

2) Can you provide evidence that school shootings are staged so the Govt. can pass gun control laws?

3) What percent of your original bitcoin holding do you still have?

Topic: Why Bitcoin is doomed to fail, and there's nothing you can do about it. - page 9. (Read 39330 times)