/biz/ - Business & Finance

>leddit spacing
>wall'o'text
Cringe

Bluepilled

>people gonna do this and that
predicting shit like this is impossible, the best u can do is hedge bets

>>10622594
is that a real photo or a deepfake?

>>10622697
It's the real deal

>>10622697
legit

>>10622549
People were saying that about internet and email in 80s faggot

>>10622549
The plan for LN was never ultimately that normies would use it. The plan was that banks would own bitcoin and normies would buy and eventually get wage in and then use and "deposit" and borrow bitcoin credits and basically they wouldn't touch either the first layer or the 2nd layer at all. Bitcoin would simply be the basis currency for a private banking system where people yet again don't have custody of their own financial assets.

When you look at it like this, and you look at who backs Axa who backs blockstream, then the direction of bitcoin suddenly starts to make a lot more sense and more like it is by design rather than just a failure.

See this, referencing Hal Finney's ideas regarding the possibility of bitcoin as just a settlement layer among the big guys. That is secretly blockstream's plan. Ethereum has actually having end-users usable 2nd layer scaling tech built for it. Bitcoin does not. This is on purpose and anyone who would try this would be pushed out. In fact, poon was pushed out by the LN project, whose white paper he co-authored (it was supposed to need more than 100mb blocks on the bitcoin main layer). He's now working on Plasma.

https://www.reddit.com/r/Bitcoin/comments/3sb5nj/most_bitcoin_transactions_will_occur_between/

>>10622794
>Bitcoin would simply be the basis currency for a private banking system where people yet again don't have custody of their own financial assets.
The flaw in this logic is that you assume it will be impossible to still use bitcoin, even if banks get normies to get it through them. Banks just act as individuals lending bitcoin, nothing more, and everyone else goes along their way, trading directly with other people.

>>10622756
If you draw that parallel then bitcoin is like people who would have refused to scale the internet due to fears of centralization. Then nobody could build ontop of it.

>>10622915
>The flaw in this logic is that you assume it will be impossible to still use bitcoin
I don't assume this. I assume it's cost-prohibitive and difficult, which it will be. People follow convinience, apart from very dedicated libertarian autists with plenty of funds and time and mental energy.

Banks will not act as individuals lending bitcoin. People will never actually recieve the bitcoins, just like the current system of accounting between banks with fiat. There is no real reason to withdraw bitcoin to your own wallet. In fact, people will not have their own wallets, because even if tools are made to make it super easy to set up a wallet, sending bitcoin to it, and opening your own LN channel(s) to one or more of the hubs (mostly will be banks), it will still be cost prohibitive because you'll still pay at least two transactions. On top of this, normies will feel more comfortable with institutional custody than being responsible for having coins in their own wallets.

Ethereum tools are being developed to solve these problems through things like multiple party multisig smart contract "semicustody" wallets, where multiple parties have to collude or get compromised to fuck you over.

With the direction of bitcoin right now, we'll go right back to everyone but the absolute richest not having control of their own assets (can be confiscated by authorities regulating banks), fractional reserve banking, etc.

It's basically the same old system, just that governments are removed from money creation when it comes to the the most important currency.

>>10622549
>EVERYONE WORKING ON ALL THESE OTHER PROJECTS ARE FUCKING STUPID
>WE CAN BUILD AN ALL IN ONE THAT DOES FUCKING EVERYTHING THEY CAN
>WHY WON'T YOU FUCKING BUILD ON OUR PLATFORM YOU FUCKING RETARDS
>I DON'T FUCKING CARE IF ITS REALLY HARD AND NOT DESIGNED FOR IT
>FUCKING PUMP BCH REEEEE I HATE YOU ALL FUCKING BCORE SHILLS

For the record I think BCH is technically superior to BCH but that is also true of DGB. BCH shills getting uppity and attacking technologically superior chains and products however is the most asinine thing I can think of.

Bitcoin cash is coming for you niggers

>>10622594
Damn, I always knew CSW was a fag, never knew he was gay though.

>>10622697
Someone called him homophobic so he posted this

>>10623585
*so he proved he was a fag

>>10623599
He's married to a god tier Asian woman and has kids

>>10622549
Based and redpilled anon. Bch is Bitcoin. I'll be sticking some link gains in it post singularity.
Core is a store of value, and that's fine or whatever. But Bitcoin is peer to peer digital cash.
Lightning network is literally retarded and absolutely vulnerable to censorship. Also it's retarded. Like the dumbest fucking thing I've ever heard of. Crippled grandpa won't up the blocksize because Israel is our greatest alli
1000 corecuck suicides at real dragon breath flippening

bitcoin is proof of work, on chain settlement, on chain scaling with moores law. fuck your raspberry pi node, we are going to scale this bitch until the kikes are priced out

>>10622697
You couldn't tell from the way he waxed and waned about drinking wine like a complete poofta?

Anybody who actually listens to what Craig Wright has to say knows BCH is going to win.

No, not the tweets. He just troll there. Watch the 2 hours long interviews or regret it in 5 years.

I'm down 200k in this market and I don't care. I'll just keep buying some more BCH everytime the market is down. Eventually I will be elite tier rich and set for the rest of my life.

Cashies hard at work here
Lmao

>>10624501
We've made logical arguments about why LN will fail and why BCH will succeed and the mouth breathers on here can't do anything more than come back with "lol centralized bcash scamcoin". I don't even care to convince you anymore. I'd rather watch you lose everything and buy my bags at 50k or neck yourself.

>>10622841
you have any sauce on poon

>>10624515
>logical arguments
where? You're doing nothing but spouting random statements with no arguments. This reminds me of the daily lamden shills.

>>10624545
I meant over the last several months, not this thread in particular

>>10624563
right. The daily corecuck threads and image dumps?

>>10624568
Logical arguments always have the word cuck in them. Check the academic literature.

>>10623330
bitcoin's base layer is going to remain decentralized indefinitely
the main chain throughput is going to be determined by what hardware and software technological advances take place. It's a conservative and cautious approach to avoid the main chain from being compromised.
The same can't be said about eth even at today's transaction volume.
technically anyone can be a LN "bank" if it comes to it no government authority is regulating the network that's just FUD

>>10624515
bcash is centralized as fuck and it is a marketing scamcoin with the worst devs in the cryptosphere. those are facts - cashie cultists hate facts

>>10624515
Both LN and BCH are scams. Only Bitcoin (real Bitcoin, that is, addresses that begin with 1) is the inmutable digital gold for the next 1000 years in which anything worth measuring will be measured with.

A lesson that noobs will pay with their own money, as always.

>>10624672

even if your claims are true, I still like to diversify

>>10623330
>People follow convinience, apart from very dedicated libertarian autists with plenty of funds and time and mental energy.

And since when do any other group of people but dedicated libertarian autists with plenty of funds and time and mental energy deserve to profit from Bitcoin?

>>10624663
Core camp koolaid makes you think that the more decentralized your coin is the more valuable it is, even if that makes fees go up to $100 and confirmations to take hours.

The real economic truth is that you only need a solid 10+ large mining data centers to be decentralized enough to matter. After that it is all about scale, ease of use and merchant adoption.

In a few years when BTC is worth 10% of BCH you will still be angrily yelling about "BUT MAH DECENTRALIZATION RASPI NODES".

I can't wait.

>>10624730
>top governments don't have the resources to neutralize 10 points of failure
>he thinks that dogshit (which could be any altcoin) will ever be valued higher than an actual decentralized network
kys

>>10624828
You are still under the impression that you are some anarchist trying to overthrow the government. Even if you are decentralized if all the governments collude to ban bitcoin what do you think is going to happen when it is only used by a few illegal hackers. It'll be worth nothing you fool.

Bitcoin only works by working with the existing systems and being used in commerce.

>>10624873
Short sighted brainlet

>>10624919
Yeah man your anarchy coin that is banned by every major government and isn't used in commerce for anything and all the exchanges shut down is gonna be worth trillions. You gonna be in lambo town just keep hodling you rebel.

>>10624873
You are still under the impression that you are some anarchist trying to overthrow the ledger. Even if you are decentralized if the blockchain neural network colludes to ban national identity what do you think is going to happen when it is only maintained by backwater third worlders. It'll be worth nothing you fool.

Statehood only works by working with the existing systems and being used in pacifying the unwashed masses.
>t. 2040poster

>>10624873
>if all the governments collude
This is why cashies think their shitcoin works. Absolutely 0 IQ, all the game theory in the world flies past their empty brains.

>>10624991
I'm literally arguing your point for you that if you have more than 10 points of failure to stop government shut down it still wont matter because major commerce will be shut down even if the miners keep mining. You are a retard.

>>10625068
why are you ok with only miners and major service providers having the only record of the system
clearly they're going to act in their self interest and not in the interest of the users
>but but muh low fees amiright
use traditional payment processors if you want low fees on a centralized system

>>10622549
>hint: global money can only happen on the first layer
wtf are you talking about

>>10625179
Do you really think that if the miners who have hundreds of millions invested in mining equipment want to do something they view in the best financial interest and longevity of the market that you and your bro with your raspis have any power to stop them? Lol.....

Keep verifying transactions and pretending you matter bro. If a 51% attack was happening your node wouldn't even know until it was already done.

>>10622549
BTC = BITCOIN
Bcash = 0,09292625 BITCOIN

Prove me wrong, op.
>Pro tip: you can't.

>>10622794
Stupid logic. The LN is a sum zero system. All bitcoins in the lighning are cryptographically backed. People will have small nodes in their homes like pic related. And will pay using their own bitcoins. You don't need to ask permision to the gov in order to run a node. And its far cheaper than a miner operation. Go suck dick retard.

>>10625327
>>10625360
Poor bait

>>10624368
Just one question. If Craig Wright is satoshi, why doesn't he dump his early mined bitcoins in favor of bcrash?

>Pro tip: he isn't, and he doesn't hold satoshi's private keys.

>>10625382
(((You)))

>>10625404
>a system that was created for the exact opposite reason stated in pic related is now the new plan because you're a jew lol
yikes

>>10625388
He is waiting until BCH is ready for mass adoption and then we will slowly start dumping on you over time.

>>10625583
TOP
FUCKING
KEK
E
K

>>10625600
Yeah Satoshi is totally Nick Szabo who argued bitcoin wasn't turing complete and not CSW who said it was.

protip: bitcoin is turing complete

I really hope you altcoin faggots get justed or actually create something useful. All this extra shit to rummage through gives me a headache. If you are purposely trying to create confusion, I hope you die.

>>10625258
that's funny because I remember 90% miner support for S2X
what ever happened to that?

>>10625808
We told those miners to fuck right off. We won't verify your shit chain, they almost immediately cowered.

>>10625808
>>10625851
Miners didn't want segwit and BCH already forked so they abandoned it. Are you stupid?

>>10625874
>Jihan Woo choking under the cusp of my heel
>You really thought you could get away with it didn't you... You really thought my full node wouldn't see what you were up to?
>Pathetic..... Don't trust verify

>>10625874
hmm it's showing over 90% of the hashing power mining bitcoin

>>10625967
This has to be larp right

>>10626010
you're pushing an altcoin fork as something legitimate
the market the miners the users everybody disagrees with you
you have to be larping or a complete retard

After listening to csw speak its becoming more clear that bch will absolutely flip btc. Just a matter of time

>>10626065
>a group of people who disagree with the direction blockstream core is taking bitcoin can never fork and make a more successful version of bitcoin

nice logic cuck

>>10622549
no sense in trying to help these sheep. just accumulate

>>10622549

fuck the bcore retards, they'll kys anyway in a couple of years

>>10625388

Tax reasons, and, it doesn't suit his purpose to crash BTC just yet.