Topic: Why bitcoin is in big trouble and is ultimately doomed! - page 6. (Read 13219 times)
Yes, but the stake has increased, there is alot more money involved in mining than there were in the beginning stages of bitcoins... Your local pizza delivery companies are unlikely to collude for any reason, but Pizza Hut and Dominoes may (or at least buy out each other) ...
The dude is on a Bitcoin bashing frenzy lol
All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...
Basically, taint is the problem where part of your coins are mixed with stolen, laundered, or illegitimate coins. It will eventually be a huge problem for bitcoin, as exchanges and merchants will refuse to take coins above a certain taint %. We may also find trading freezes up, people are stuck with coins they cant use, and bitcoins lose a lot of their worth.
All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...
Yea, and he isn't trying to "promote" LTC either!
Shall we start a pool on how long before he states that his account was hacked FOR REALZ and this whole thread was the hacker?
Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?
Were they colluding before? NOPE.
Please think about your own questions for 15 seconds before hitting the post button. You'll find that logic will answer many of your own questions.
Im not sure, perhaps we would see more featureful and diverse chipsets if we had perhaps half a dozen chip manufacturers instead of just two...
Also, the problem with a huge number of ASICs coming online, is not just that they get more powerful, its that smaller miners see lesser profits and drop out. Mining on a GPU will become impossible, and unless you invest heavily in ASICs you will probably not many enough money for it to be worthwhile.
Also, the problem with a huge number of ASICs coming online, is not just that they get more powerful, its that smaller miners see lesser profits and drop out. Mining on a GPU will become impossible, and unless you invest heavily in ASICs you will probably not many enough money for it to be worthwhile.
The dude is on a Bitcoin bashing frenzy lol
All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...
Basically, taint is the problem where part of your coins are mixed with stolen, laundered, or illegitimate coins. It will eventually be a huge problem for bitcoin, as exchanges and merchants will refuse to take coins above a certain taint %. We may also find trading freezes up, people are stuck with coins they cant use, and bitcoins lose a lot of their worth.
All that on a thread about the blockchain.info taint feature, which has nothing to do with what he described.
Oh, well...
Bitcoin is a risky project and there is a high change that you will lose everything.
If I lose everything that I have today, I would honestly have to say that I've come out ahead overall over the past 2+ years.
Now that you've said your peace, I'll buy you out at $3 per and you can leave.
Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.
See gold. Isn't gold mining 'being monopolized by a small but powerful group' either? A free currency essentially removes all limitations of ownership, and you are free to start 'monopolizing' too. That said, ASICS would only advance Bitcoin more in terms of security and stability (financially as in price and the Bitcoin network in general), and no, I don't have any ASIC's yet.A technological race is normal for any free system - see the chip war between AMD and Intel for example. Who is complaining that the computer CPU is being monopolized by only two companies?
Im not so sure, isnt it possible that the top 3/4 pools will collude like you sometimes see cartels doing in other markets?
Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.
As bitcoin isn't about "printing free money!" I am not worried outside of the 51% attack scenario. But, competition being what it is, I don't see the 51% situation likely.
Nor can you correct rudeness and general crudity... In any case, I was wondering whether you think the ASICS will cause a problem for bitcoin and mining in general? I am myself very worried about mining being monopolized by a small but powerful group.
Sorry, corrected post.
You can fix posts but you can't cure stupidity...
Sorry, corrected post.
rjk, Bit-coin will fail at some point, I see no point in having an address to sell any coins I may come into possession of. And thanks for the thought out post Vandroiy!
Are you even reading what you are writing? 
Bitcoin is a risky project and there is a high change that you will lose everything.
If I lose everything that I have today, I would honestly have to say that I've come out ahead overall over the past 2+ years.
Now that you've said your peace, I'll buy you out at $3 per and you can leave.
rjk, Bit-coin will fail at some point, I see no point in *not* having an address to sell any coins I may come into possession of. And thanks for the thought out post Vandroiy!
While that $2000 is most likely easy money for me, I don't want to take your money or humiliate you. I am just giving you a warning that you are treading in dangerous waters. Many people here are risking much higher sums than that every day. Whatever you want to take from this failed experiment, you should not put in any money that you cannot afford to lose!
Is this where I get to use the quote button?
- Make a financial forecast
- Take a stance using bets or financial instruments
- PROFIT
Though I agree on one thing: don't put in more than you can afford to lose. That comes in automatically if you do the forecast correctly, but who does that in the first place?
But yea, Bitcoin is high-risk. Speculating on it is for people who like the idea.
psy, please keep on topic, this post is not about litecoin.
but I thought bitcoin and litecoin were pretty much the same?
psy, please keep on topic, this post is not about litecoin.
So you think bitcoin will fail, but you still have a donation address in your sig? Whatever.
I am nothing of the sort, I was going to remove my signature ages ago as it was very old...
Very old and it advertises a litecoin wallet that was announced on June 8, 2012.
https://bitcointalksearch.org/topic/annltc-ewallet-ltc-faucet-pool-86345
We should ask theymos to check the logs and see the date when he last edited his signature...
psy, please keep on topic, this post is not about litecoin.
Ok, that matter will be investigated. This is a serious thread, please behave and get back on topic.
Serious thread became unserious when you were outted as an litescammer.
But seriously, I'm curious as to how you don't see that the only "success" LTC could hope for is to sink both BTC and LTC.
Litecoin will be very succesfull. Their windows only client that's not updated since February and has serious flaws that were already addressed on the Bitcoin client will take it sky high.
Jump to: