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Global CRASH -this September Take your money and run or what ???
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theHand

Biedrs kopš Sep 20, 2014  360 ieraksti theHand Aug 18 2015 at 21:00 (labots Aug 18 2015 at 21:17 )
That's like saying I don't like dollars because I wasn't there when they started printing them. Makes no sense at all.

Bitcoin is just the first attempt at crypto and it does have some well documented problems. That said the whole thing is in its infancy. It will take years for the idea to settle in and be developed to its full potential. Fortunes will be made along the way. Bitcoin might not even survive, who knows, but the cat is out of the bag so to speak. There will be plenty of future opportunities as people come to grip with the idea of a bank-less society. Hopefully it will lead to decentralised governance as well. And of course along the way all the crypto's will slug it out just the way Fx does today.

In the meantime in Greece: https://www.zerohedge.com/news/2015-08-18/seeking-alternatives-1000-bitcoin-atms-are-coming-greece

kayz08

Biedrs kopš Jul 13, 2015  32 ieraksti kayz (kayz08) Aug 19 2015 at 06:27
Well the dollah (plus other currencies) was introduced by the government and many laws were made for the use of the dollah. So basically you would have to have been living under a rock if you didn't know the dollah existed. Don't forget the governments that print money. They have the power to increase or decrease prices.
Bitcoin is a wild unpredictable beast which can benefit those in the know-how (with IT skills like you) than general population.

All I'm saying is if cryptos come to power. I'll be the first to create a company that teaches people how the damn system works.
That market would be big business.

I don't owe you pip, You don't owe me pip. Lets help each other.
Rainfall0204

Biedrs kopš Aug 04, 2015  28 ieraksti RainFall (Rainfall0204) Aug 19 2015 at 06:30
yea we all gonna crash and burn tomorrow and after tomorrow we'll just go and do the same thing market fluctuation will always go back and forth ohh and btw BitCoin is not the only crypto and its getting harder and harder to mine for cryptos, electricity that my mining rig uses vs bit coins I mine is horrible and basically not worth it and then the blocks of data to be mined runs out by 2040 or whatever then we will be stuck mining for coins using millions of Gigahash resources on recycled blocks of data with new algorithms added the faith in bitcoin tumbled after the 1200$ a coin long while ago now is like 250$ a coin and takes a long while to FIND and then SOLVE the block and using at least 1000watt in hour power source 24 hours a day makes a very good heater out of ant miner but barely makes enough money to pay for the electricity it uses... so make your own conclusions and if anyone one wants a 950 gigahash mining rig let me know 400$ and its yours ill pay the shipping

5starsignalspamm

Biedrs kopš Jul 25, 2014  184 ieraksti 5SS International (5starsignalspamm) Aug 19 2015 at 06:41

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kayz08

Biedrs kopš Jul 13, 2015  32 ieraksti kayz (kayz08) Aug 19 2015 at 10:00
RainFall

These recycled blocks of data you speak of, is it like adding more bitcoins into the system?

Oh and by the way, after your top notch sales pitch, don't think many would be interested in buying any mining rig.smiley

I don't owe you pip, You don't owe me pip. Lets help each other.
theHand

Biedrs kopš Sep 20, 2014  360 ieraksti theHand Aug 19 2015 at 21:03 (labots Aug 19 2015 at 21:04 )
@kayz08

The issuing of FIAT paper is a recent invention. Governments for most of humanities history didn't have any control over money and certainly not over supply. You used to have to do something to get make money, like dig out some gold. And as we can see the fact that they do have control is an ongoing disaster.

Sure a government can make rules, they can have a police and army to enforce those, but when the masses turn their back its tickets. Many, many examples of that in history.

Yeah Bitcoin is not perfect, nothing is, but at least a corrupt government can't mess with the supply. Get that wrong and well, just ask Robert Mugabe what happened to the Zim dollar. US is just as bankrupt as Zimbabwe or Greece for that matter. Hyper inflationary depression is very likely just around the corner. Can only manipulate market forces for so long....

Bitcoin is unpredictable for now, but the crypto's will settle in over time. It's better than the alternative, which is FIAT, that's for sure. Ask any Cyprian or Greek, and watch as this rolls though the entire western hemisphere now...

DrVodka

Biedrs kopš Dec 16, 2011  292 ieraksti DrVodka Aug 19 2015 at 22:03
. Look at the price Of a BTC it lost 60 $ in 2 days , next week it could be worth nothing .. I'm not convinced

theHand

Biedrs kopš Sep 20, 2014  360 ieraksti theHand Aug 20 2015 at 05:45 (labots Aug 20 2015 at 06:05 )
@DrVodka

It's not about Bitcoin, FFS.

It's about the concept, the trustless ledger system. Bitcion is just the first attempt. Doesn't matter if it disappears. It does have problems, we know that. First car was also shit, so was the first plane. But they did prove the concept and today a person can climb into a Bently or RR or a A380 and waft around in supreme comfort.

Takes time man...

By the way, how much of it's value did CHF lose in 1 tick ? So Bitcoin is in good company.

And look where it is heading, the internet might be based on it in the near future:

https://maidsafe.net/overview
https://www.ethereum.org/

kayz08

Biedrs kopš Jul 13, 2015  32 ieraksti kayz (kayz08) Aug 20 2015 at 06:24
I definitely agree with you there, maybe its the mass government brainwashing(I blame the fluorine) that causes me to have more faith in fiat currencies. I'm just afraid that cryptos will be more volatile and unpredictable and really hope the Greek don't suffer because of that. Would prefer for them to do what Zimbabwe did which is adapt other countries' currencies but then again, they don't have enough money to I guess.

I don't owe you pip, You don't owe me pip. Lets help each other.
Rainfall0204

Biedrs kopš Aug 04, 2015  28 ieraksti RainFall (Rainfall0204) Aug 20 2015 at 06:25
kayz08 posted:
RainFall

These recycled blocks of data you speak of, is it like adding more bitcoins into the system?

Oh and by the way, after your top notch sales pitch, don't think many would be interested in buying any mining rig.smiley



lol well the point here is that it could go either way if bit coins become rare and people still want them then price will go up so if you mine right now and in a year or what ever it may be later bitcoins will worth more then you make money but if they worth less you loose all the money you paid for the electricity and the rig itself and the recycled blocks of data I am talking about is the information, when old info is decoded 'solved' the new string of info is formed repacked and delivered and so on and on the more complex the algorithm the harder it becomes for your system to solve it 5 years ago you could mine with your gpus now days even the most expensive processors and GPUs cant handle that you have to buy a dedicated mining system now if you pay 1 cent per kilowatt you can make money with a bitcoin being only 250$ but if you pay 35 cents per kilowatt then its not really worth it

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