/biz/ - Business & Finance

yes, its a distributed database bro, and someone makes an entry every 10min or some shit and that makes a block and people get sweet gains

Back to Facebook Lori

>>15203021
>software

>>15203021
You put money in it and more money comes out the other end.

>>15203021
>just a bunch what are essentially amateur stock traders

yup, me right here

>>15203029
Shall be using this in future

>>15203032
You're right, it's not software, it's a decentralized system enforced by the laws of thermodynamics in terms of the computational complexity of cracking hashes. Coincidentally it decentralizes and commodifies trust itself, which is the greatest game theoretical accomplishment in recent history.

>>15203021
Intelligence doesn't equate understanding. Intelligence is potential; it means you are capable of learning faster than other people but it does not mean what you learn is useful or even correct.

By judging your self worth based on your intelligence you're more than likely going to be stunted in adult life. You'll blame everybody around you, because you should have made it - right? But understand implementation is 90%, the idea is only 10%.

If you read and listen to understand, keep an open mind but remain skeptical - there is hope. If not, good luck bro, you're going to need it.

>>15203034
this

>>15203077
What are you talking about? What kinds of success will be missed out on? You're talking vaguely and not saying what you mean

>>15203056
This guy fucks

>>15203056

>who actually understand how Bitcoin works as a piece of software?

Ask me how I know your a retard

>>15203021
I know enough to know that'll be problematic for miners to be consistently in the green after a two or three more halvenings without mining blocks for tremendous transaction fees. Maybe the digital gold meme will work out, but BTC has definitely limited potential compared to other projects.

For the next decade it's a solid investment tho, although I tend strongly towards ETH as they are actively working for improvement (now it only has to work as inteneded). Risk in ETH is bigger, but the potential returns as well

>>15203021
some of us are econ nerds and like it for it's halving schedule and scarcity. I came for the $

>>15203154
>I know enough to know that'll be problematic for miners to be consistently in the green after a two or three more halvenings without mining blocks for tremendous transaction fees.

If you think this you don't know anything. If the price of Bitcoin increases sufficiently then the block reward is effectively the same. Loss of block reward becomes an issue next century.

>>15203187
that's why I wrote consistently. On the top they'll always be able to dump for a profit, but they need good strategies to survive the droughts and at the same time be able to compete on the highest level. I think BTC will become more and more centralized over time.

Also sad that I can't formulate my thoughts without getting attacked personally. Something that happens all the time on this board

>>15203021
No one understands the Vishnu living on the block chain. Except Satoj

>>15203021
>intelligent people here
not in these woods.

andreas antonopoulos is great at explaining it to anybody at any skill level.
https://www.youtube.com/watch?v=1wDwb36GNxw

Intelligence is a meme. To survive, to remain sane, you don't stay "intelligent". It makes you a hated ugly goblin who'd vote killary.

>>15203233
That's a really beautiful post

>>15203021
yes i do, not only as a piece of software but also the math and cryptography behind
i also developed shitcoins in the past
working on a solid one right now, i hope to succeed, resign (it will be hard with a a 4 zeroes salary) and dedicate full time on it, eventually build a solid team, i have plenty of crazy skilled security researcher, reverse engineers, software engineers etc (but they are earning 200k+ and the only way to keep them would be selling some small percentage of the premine on investors, which i fucking hate as a concept)

>>15203021