/biz/ - Business & Finance

>>24904625
>STORE OF VALUE
Nothing is replacing it, just like nothing will replace physical gold. It's not going to be used for muh cup of coffee at the local starbux, but it will remain the #1 crypto just because it was the 1st and has become recognized as a store of value.

A secure store of value should have the smallest attack vector possible, and being Turing complete/ open to smart contracts increases the vulnerability space.

Next pls.

>>24904625
you're right, btc will be replaced by bitcoin

>>24904625
>software engineer at amazon
if you so smart why are you making a replacement instead of being a wage slave

>>24904691
this.

Sure will. It will be like 500k so no one can buy it and it will be replaced by a faster leaner coin.

But btc will be the relic the standard of value. Kinda how USD was the standard based on gold and then replaced by paper money with no backing.

Its a long way coming but BTC shall remain king in usd value. I get your fud but you fail to see the long long term value of btc.

More likely it'll be replaced when governments and investment institutions own 80% of it, governments regulate the shit out of it, nobody can do transactions on a congested network, and all the miners shift to a fork with a reasonable blocksize and we all just go from there. Yes, bitcoin will eventually go to zero. But it'll be a slow decline where the smart money gets out into alts way before the dumb money (government bureaucracies and pension funds) realize they're the bagholders.

>>24904824
>governments regulate the shit out of it
Stop doing it in fiat, you are free to go

>>24904625
This isn't some revelation. Most people realize by now that institutions are manipulating it for the purpose of profiting off of a new wave of fomo bag holders. Sell off, accumulate, pump, rinse and repeat.

>>24904956
Like I said, smart money will get out and BTC will flow to institutions who think they're dominating a market when they control BTC, but don't realize the marketspace is literally infinite and people will gravitate to the most effective (and least regulated with bullshit) solution to their problems.

We're already now at the point where the IRS is going after literally everyone who uses crypto by default and all US exchanges are requiring KYC. It won't be long before people start moving to privacycoins like Monero.

>>24904625
Bitcoin will be able to do all of that and more. ETH WILL go to $0 tho.

>>24904625
literally who?

>>24904691
I agree, which is why MySpace is still the world’s largest social media platform.

>>24905335
Not comparable at all.

>>24905099
Based. Monero is the BTC killer. Atomic swaps will be the final nail in the coffin.

>>24905535
>atomic swaps with monero
soon.jpg idk how long it'll be though

>>24905418
That is not comparable but I can explain why it wouldn’t be, because my delusion is deeply ingrained in my psyche that it has become a part of me, and without it I am not whole.

>>24904625
You're dang right it will be replaced soon.
STIFF

>>24905335
Imagine being this dumb

>>24905335

>>24905335
Following your logic. MySpace was sold for $580 million. Are you willing to sell your Bitcoin for $580 Million (fifty eight hundred million) in the future, anon?

>>24905535
>why do you want privacy
>are you a drug dealer lol
Normies are too dumb for XMR.

>>24905678
>>24905708
>>24905786
This time it’s different.

>>24904625
the thing with code monkeys is that they are not able to comprehend market demand. The market doesnt demand a metal that is rarer than gold, because there are many, the market wants gold. There might be "better" versions of bitcoin, but they are still just copies. Bitcoin would have been replaced by shit like ETH or all the other 6500 trash coins if they were so outstandingly good. These software niggers dont realise how monetization of a scarce asset works. You cant just flip flop, it takes decades and even centuries historically speaking. BTC has such a huge headstart and is so much better than these shitcoins that it will never be overcome by them. Its now worth close to 400 bil, while the next "best" thing isnt even 10% of that and not even 5% as liquid.
Alex Ching chong beta bitch amazon wagie slave

>>24905335
Myspace didn't even have first to market advantage that was Friendster.
>Tfw convinced myself FB was a bad investment at the IPO due to what happened with Myspace and now they buy companies that intend to usurp them like Instagram.

>Proof of work must be slower than proof of stake.
This makes zero sense and tells me this guy has no idea what he's talking about

>>24905940
More like
>wtf anon the IRS wants 40% of my crypto earnings
>quick tell me about that drug dealer coin that can't be traced I ain't paying fucking 40% of MY money!
Then they'll brag about it on facebook and get taken to court and they'll unironically forget their wallet password/seed and declare bankruptcy and generally act like a dipshit forever.

>>24906048
Do you know how to draw a trendline? I suggest you do so in the following chart.

>>24905535
anonymous tokens only have one purpose: cashing out off or into a position. They will never be what BTC is

>>24906206
Whats your point? BTC has more than twice the market cap of all your shitcoins combined.

of course, it will be replaced by XRP

>>24904625
>car will be replaced bc it doesn't even fly
>telephone will be replaced bc it can't even handle video
>computer keyboard! I laff - it can't even read minds and save you all from RSI
0/10

>>24906211
they dont need to be stores of value even though monero is, they just need to be better than btc at moving money around, and monero is. atomic swaps will combine strengths of both btc and xmr and make it easier than ever to use both, each for their designated use case

>>24906480
>after the last few months he STILL thinks money is for moving around
ok roger

>>24906330
If Bitcoin is losing market shares then the code monkey/Chinaman has a point.

Hey do you remember these? What happened? They were king in highschool.

>>24904625
this moron believes bitcoin will become money. it will just be digital gold

>>24906623
>comparing bitcoin to electronics
brainlet

>>24906480
>>24906775
Bitcoin will some day be money, but until then it is used as a store of value to hedge against fiat destruction. When Bitcoin has a market cap of a few trillion it will be more stable than any other shitcoin and its original purpose of a perfect form of currency will be established.

>>24904625
the "best" protocol is far from being always the one that gets adopted
the best at a point then stops being maintained, and the protocol being adopted gets improved over time and it's never ever replaced (see internet protocols)

>>24905335
>comparing money to some irrelevant company
where is the btc headquarters? Bitcoin does what it's meant to, store of value.

>>24906206
https://messari.io/article/eth-is-not-money

>>24906623
>remember a hardware device that is now obsolete
Yes retard, I remember, do you remember p2p torrent protocols? Theyre still being used and theyre antique by internet standards. Why? Because theyre superior. Just like mankind still uses the wheel, writing and all the other fundmamental invetions. Bitcoin is a p2p monetary instrument.

>>24906623
at least post the real deal faggot, not the shitty remake

>>24906812
Nokia’s decline wasn’t just a hardware issue (no touch screen) but also a software one, they sticked to Symbian which was inferior to both iOS and Android.

>>24906211
Waste of digits on a surveillance coin denier. Enjoy your economically unviable coin.

>>24904691
+ all these fucking "ETH killers" can suck my dick. BTC and ETH are king and queen of crypto. period

>>24904625
First of all, this guy is a "Software Development Engineer", aka a code monkey, not someone anyone has reason to listen to for anything except maybe what the javadoc says about an array of integers. He is indeed woefully uninformed on the topic of crypto.
His assertion comes form the misunderstanding that one crypto has to do everything. He is right that BTC is not optimized for being a smart contract platform. The smart contracts of today and of the future will not run on the Bitcoin network. That is already the case and doesn't mean a thing to the BTC price because just like BTC doesn't care about the payment use case, it also doesn't care about the smart contract use case. It focuses on the one use case where it is better than all alternatives, which is store of value.
Store of value is absolutely NOT better served by Proof of Stake instead of Proof of Work. A smart contract platform, on the other hand, is. Totally different use cases with, appropriately, totally different platforms addressing them. This is the kind of thing any software developer, even a competent junior, should understand as it is the basis of the whole software industry, but this guy is either highly incompetent or a highly dishonest shill.

>>24906978
>my coin is extremely volatile and it might not even be adopted by the broader market
>great, lets put my networth in there, its anonymous after all, which is soo superior to other forms of holding your purchasing power
>shitcoin dumps, networth -75%
Gee, I sure am glad I was anonymous at least.

>>24905335
> the first and still only implementation of a distributed ledger safe against double spending, solving an age-old computer science problem
> a blog engine
Yeah it's very similar projects so dynamics should play out about the same, you are a very intelligent man.

>>24905535
A few of the use cases that BTC doesn't give a shit about, but that crypto noobs and genuine idiots always think are absolutely essential to the success of BTC:
> Paying anonymously for drugs and hitmen
> Paying quickly and cheaply for a cup of coffee
> Running smart contracts
For some reason you morons don't think that BTC also has to be an oracle service, but I guess that will come before the next bull run when LINK has proven itself.

>>24906928
I am sure a lack of proper HQ will make all the difference.

>>24906933
Lazy response. Is Bitcoin losing market shares yes or no?

>>24906940
Do you remember if there were any other protocols before BitTorrent? I think you may find there were. Hey anyone remembered this shit?

>>24907255
boomer here
i member, just uninstalled it the other day

>>24907080
Right, if I remember it correctly Isaac Newton made a similar conclusion, laws of physics only apply to red apples. Not green apples.

>>24907190
losing market share to whom? It doesnt lose market share as each crypto - going by your logic - serves its own unique market and its unique demands. That would be like saying: does Coffee lose market share to soda? Obviously not, because the demand for both is not directly tied to one another.

>>24904625
yes by freedom reserve

>>24907255
why do you continue to spam this board with your retarded comparisons? A consumer product is not comparable to a monetary unit and therefore doesnt work under the same assumptions.

btc about to have another -30% dominance gap like july 2017

>>24906928
THATS THE POINT THAT THERE IS NO HEADQUARTERS

>>24907329
> Bitcoin and the game pong both consist of computer bits so they are exactly the same in every way.
Look genius, gravity applies equally to a computer running linux and one that runs windows, does that mean that both systems will behave exactly the same or be adopted equally by the market?

>>24907190
>Is Bitcoin losing market shares yes or no?
For the store of value use case? No, it is absolutely not.
Is the crypto space drawing in money into other use cases, potentially more money than BTC draws in for SoV? Sure, and that means absolutely nothing to the staying power and price of BTC, in the same way as Visa taking over the spending use case means nothing to the price of gold.

>>24904625
>PoS or whatever
Secured by nothing. The reason I would write something in stone is to preserve it. If it was too easy and cheap to alter the stone it would defeat the purpose of using that instead of a pen and paper.

>>24907351
Bitcoin is being gradually replaced by other crypto currencies. That is what the graph is showing. BitCoins share in the cryptocurrency market.

CBDCs will be based on bitcoin as a source of fractional reserve. /thread

>>24907527
That's a very elegant way of putting this discussion to rest forever. /thread /topic

>>24907406
Because you say so?

>>24904625
Btc -> wBTC, wow look at that now btc supports smart contracts! Gtfo chink

>Quora
There refuted

>>24907561
That is not what the graph is showing retard. It is showing how new use cases in addition to (and, for the non-brainlets, enabled by) Store of Value are gaining investment. It doesn't show that a single person has been dumb enough to think any non-BTC crypto can replace BTC as the king of SoV. BTC is most certainly not being replaced, now nor ever, it is being enveloped by new technologies that it enables, just like the rise of more and more web sites does not signal the demise of HTTP/S, quite the contrary.

>>24907426
Did you think gravity was the point?

>>24904625

>muh superior alternatives
get out of your libertarian autist fantasy of rational markets. you think fiat is the best currency for the world to use? well guess what, the market has chosen fiat. just bc its the best does not mean humanity will have a eureka moment and ditch fiat bc muh rashonal margets

>>24907714
No, I showed you why gravity would be necessarily orthogonal to our discussion, making anyone bringing up an allegory using gravity as a central component would by force of logic be a nincompoop. If you were trying to make a point, I showed you why you failed to do so. If you actually have a point, which I doubt, feel free to try again, better luck next time.

>>24907750
damn, this lil nigga with his shit beard genetics really sold me on BTC.

>>24904625
if this is true someone, someday, will buy the absolute top of bitcoin

>>24907791
Oops deleted a few words by.
"Making it so that" turns the sentence into something grammatically coherent.

>>24904625
ETH might replace btc soon as long as they fix the scaling issue

>>24904625
Man..

>Software Engineer at Amazon

This wall of text misses the point completely. I’m not saying that he is wrong, but the simple the fact that Bitcoin is a deflationary asset, would keep it from being used as money in any way, regardless.

That is not the value proposition of BTC either. Bitcoin was the first decentralized cryptocurrency. Everything can be traded against it. It is finite. That’s where the value is.

Imagine being so deeply focused on the technical capabilities of the Bitcoin ecosystem, that you completely miss the basic, fundamental economic principles at play.

>>24907516
There is no store of value case in Bitcoin. It is the most volatile asset in the world.

>>24907696
You are delusional.

>btc is shit because it can't be used to steal taxes from you
It's not a bug, it's a feature

>>24904625

>>24907791
>he thinks his rant means anything.
The point was that the logical deduction for Isaac Newton to make was that gravity apply to all apples regardless of color, likewise the law of market economy should apply to all tech, including cryptocurrency. You are so delusional lol.

>>24904625
Btc was abandoned project most of the OG developers went to bitcoinsv and bitcoincash btc now are blockstream shit and retard developers soon it will go down like shit

>>24904691
this. all the normies will use the government backed fiat cryptos for payments while btc will remain the gold equivalent

>>24904625
>Society will be governed by DAOs
So more bailouts, huh? Literally no difference.

>>24908066
Bitcoin is backed by fiat money, you trade Bitcoins for the Dollars not the other way around.

>>24906984
>aka a code monkey, not someone anyone has reason to listen to for anything except maybe what the javadoc says about an array of integers
lmfao

>>24904625
Alex Leung
Soon as I saw the last name, I knew his opinion don't matter

>>24908040
That was your point? That a law that is not in conflict with the assertion that btc will remain the SoV for crypto does apply to the assertion that btc will remain the SoV for crypto? Well what a wonderfully meaningful contribution..

>>24908288
fyi there is an actual flaw in chiinky brains that inhibits their creativity. You're gonna have to ask /sci/ for the reason but it's the truth for now

>>24907945
>There is no store of value case in Bitcoin.

>>24907976
>You are delusional.

The irony.

>>24908366
He is right but I think the aspect that matters is lack of liquidity, high price changes are good for investment banker vampires and speculators but completely unacceptable for any business working in a legitimate economy.
Not being inflatable is also a deterrent because inflation is a normal result of economic growth, I think bitcoin will lose all its a value when the limit is reached.

>>24904625
Regardless of who wins, ChainLink will still be needed and that's all you need to know.

>>24908730
Store of Value implies long-term storage. Volatility doesn't matter if your limit order at your target price will be filled within a cycle. That is, nobody has ever been a bag holder for more than four years with bitcoin. For the spending use case the volatility is disqualifying but for store of value that is quite acceptable. The only problem with the volatility is if you suddenly need the money when the price is low, but you shouldn't be putting money you might need suddenly into a store of value (just like you shouldn't invest in stocks with money you can't afford to lose).

>>24904755
Based

>>24904625
Anyone who is not a complete fucking moron knows this. It amazes me how many fucking retards this board has.

>>24908188
guess gold is backed by fiat too then

>>24905142
>Bitcoin will be able to do all of that and more. ETH WILL go to $0 tho.

Bitcoin does not have devs. It's unable to evolve and has shit tech.

>>24908730
>>24909155
In fact, to add to this, I think btc will continue to be volatile even with 10x the market cap and liquidity, because I think that volatility is required for a real, universal store of value. It has to move with the market to some extent to avoid too flagrant arbitrage opportunities between the market and the value store.

>>24904625
Bitcoin has historical value

replace all you want, its value will just go up as time passes and is scarcity increases as well.

Imagine your grand grand grand children owning a bitcoin many years from now, being one of the few in the world who have it. Ancient coins are worth millions today, so will bitcoin.

>>24909222
Checked, shit opinion.
> designed and implemented by satoshi
> shit tech
ask me how I know you've never coded a line in your life.

>>24909222
It's unable to evolve because everyone expect it to be a store of value and even a small fork could be an horror story with the consensus.

>>24904625
Betamax is superior to VHS. Resolution, sound, etc.
VHS won.
Adoption rates matter.
BTC is Metcalfe’s Law in motion and is spreading like a virus.

Ethereum is for commies and BTC is for capitalists.

>>24909247
Take a new crypto with a new name, put it on the front page of the news and youtube, let the normies come in and you'll have bitcoin replaced.
Look at Facebook now, always been the number one, now Instagram has all the new generation.
Crypto is no different. What crypto suffer is the lack of leadership. Most of the people in it are nerds who do it for scam.

>>24907074
Same argument for every crypto in existence. Price discovery takes time.

>>24909379
This. It is unable to evolve like a crocodile, because when you are well enough adapted to your use case/niche and that niche continues to exist for a long time, there just won't come actual improvements along that often.

>>24906940
The fuck are you writing. Antique is eMule, not torrent.

>>24904625
I agree, this will be the last big cycle for BTC, whatever we hit next year will be ath and we won't see it ever again.
That said I just tripled my position in BTC at $22750. Feeling stupid for fomoing at ath but also think we have a long way to go, and we're not going below 16,100 no matter what until at least 2022.

>>24909478
The smarter you are and the more money you have the less likely you are to think trusting Mark Facebook with your wealth is basically the same as trusting a true, double-spend resistant distributed ledger. Bitcoin is about as good a tech as you can get for its use case, in much the same way as HTTP/S is about as good as it gets for its use case and isn't about to be replaced anytime soon. Both protocols do see some improvements over time, but their momentum means that they could only be replaced if a competitor comes along that is clearly better AND couldn't have its advantages incorporated into the existing protocol. In the case of HTTP/S this might be thinkable, but for BTC it really isn't at this point.
The fact that in the 11 years so far, there has emerged no new tech that does even a little bit better than btc at being a SoV is pretty telling. The rest of crypto can be classified into two categories: Those who try to take over SoV from BTC and are doomed to fail, and the others who focus on other use cases and therefore can do very well. In the first category, the most prominent ones are forks of BTC that have tweaked some parameters (such as block size) to actually try to turn the BTC PoW approach into a platform for the spending use case (very misguided) or have tried to tack support for more advanced use cases such as smart contracts onto the BTC PoW blockchain (perhaps even more misguided).
There needs to be only one PoW blockchain for SoV. Then there is a big need for other approaches such as PoS to serve other use cases like smart contracts. But no competitor will topple BTC for SoV.

>>24904625
Of course it's going to be replaced, by eth soon after it switches to full proof of stake.
It could hardly be more obvious. A decentralized yield positive asset. Literally one in its kind. You can hold the base forever and just sell income - forever. On a long time scale yield always, always wins. Just 5% compounded over 48 years means 10.4x. That's how generational wealth is made and why clans like Rothschilds are so unimaginably rich. Centuries of compounding.
Bitcoin is a negative yield asset because of mining. It requires constant cash inflow from investors just to exist. All realized profits come at the expense of someone else, which doesn't work at all when you're really rich, because there's no one big and dumb enough to take a loss for you. It's pure shit.

All those billionaires currently buying btc are extremely late (it's 11 years old and they're buying now) and they're going to be late on eth too, after losing a ton on btc. I see people pointing out rich people buying now as some social proof bitcoin won while the exact opposite is true.
Want to look at smart money, look at winklevoss. They got into btc early and are probably going to dump on latecomers relatively soon. They are accumulating eth and are very bullish on defi.

>>24904691
YES!

BTC to 500k

>>24904625

The flaw of these engineer STEM types is that they have absolutely zero understanding of people, desire, psychology, or society. They believe that rationalism undergirds all psychology and human decisionmaking, rather than just being something we loosely aspire to while actually being driven by irrationality, appearance, and emotion. He is making this fatal assumption that of course people want a superior, more sensible product with a better consensus mechanism. Same reason why they think everyone would def prefer a PC or an android because you can endlessly customize it and it's drably sensible and it's cheaper and you get way more power for the cost. They are completely unable to account for the way people inevitably prefer and gravitate to something like an apple product driven by design, aesthetics, and interaction, or the way people react to broader marketing's irrational emotional appeals. this guys thinks like a robot and thinks everyone else thinks like robots.

The "trustlessness" of crypto is inherently flawed as a concept because it ignores the real, human need for trust and the impossibility of purging it from our decisionmaking. BTC and ETH win because they have been around the longest and people trust them. They have had a decade with BTC and half a decade with ETH to be first suspicious of them, then to play with them as novelties, then see them gain widespread interest and recognition, then begin to seriously integrate them, and then to see that they have a track record and that they work (or that their flaws reveal themselves and get fixed). Simply said, it takes a lot of time for something to overcome our suspicion, prove itself, iron out its own problems, and convince us that it is valuable and viable--- that's essentially what brand equity is; the value of recognition and trust. BTC and ETH have that, and random new alts made by some unknown band of autists doesn't (and won't) until theyve existed a while. Period, end of discussion

>>24909384
Ethereum has much higher adoption than bitcoin in users - where network effects exist.
Network effects exists in users, not in holders. Holders are linear, ie. 2x more people holding something make something 2x bigger.
Metcalfe's law requires interaction.
>>24910456
You're right about longevity being good but the issue is really whether eth will be valued higher than btc. No other open blockchain is going to matter (as opposed to state-run blockchains etc).

>>24910456

I should add that it is now too late for alts that want to replace BTC as the "store of value" coin. BTC has the massive advantage of brand equity and time-in-use to prove itself, its usefulness and viability, and to accumulate the trust of people. It's valuable because it is scarce, can't be forged, and exists in a known quantity, but most importantly because it has BEEN valuable, STAYED valuable, and CONTINUED to grow (all intermittent volatility aside). It has a history of being believed to hold value and gain value, and now that it has shown it's not a bubble or novelty and costs over 23000 per coin, there will be no catching up at this point for SOV alts. There is no need for another, there can and only will be one. The only alts that will survive are Dapps not oriented around being a store of value. "payment" alts will also never be allowed by central banks and governments because it would sap them of all their political power and ability to plan their economies; they will implement digital fiat cryptos that will function the way people hoped XRP, Nano, or other remittance coins would

>>24910662
>because it has BEEN valuable, STAYED valuable, and CONTINUED to grow
could be said about every ponzi ever before it collapses. Including Madoff's, for over 30 years. If that's really the best argument for btc it's over.
Btc buyers lose billions per year to mining. That's a fact. It has zero chance to compete with something that generates billions per year in profit.

Bitcoin is literally perfect. Even if we ignore this look at the US government. Ineffective inefficient tyranny that has being against freedom as their only principle. They won't be replaced anytime soon no matter how horrible it is. When I make it with link I will spread the messages our founding fathers believed in. Crazy to think that they went to war while we are looking back and thinking they had it pretty great, comparatively.

>>24910798

>could be said about every ponzi ever before it collapses. Including Madoff's, for over 30 years. If that's really the best argument for btc it's over.

Okay so when bitcoin reaches 31 years old you'll admit you're fucking retarded? What a convenient argument, wherein you never have to admit defeat because it just hasn't collapsed YET.

Also bitcoin isn't a ponzi scheme so your entire point is irrelevant. Go back to r/buttcoin you stupid faggot

>>24910962
>Also bitcoin isn't a ponzi scheme
It literally is.
Ponzi scheme is when the only way for existing investors to profit is to take money from new investors, leaving them with bags.
The only way to profit on bitcoin is to take money from new investors.
It's a new type of ponzi scheme, without a centralized coordinator. That's the innovative part. Still a ponzi scheme.

>>24904625
another retard that misses the point

>>24911004
It literally isn't

>>24910654

I agree, and also very good point about state-run blockchains. As I say in >>24910662, the remittance game will probably be dominated by the state-run digital fiat coins, and possibly also the services that might be used for government purposes like identity or voting. I have a hard time imagining that governments would allow the private sector to conceive of, provide, and manage an unpermissioned blockchain providing a service that is actually supposed to be under their own central control for security and accountability reasons. Imagine a blockchain that manages identity or voting being fully decentralized and having on-chain governance suggestions/upgrades being submitted by nodes run by China or something, or having china 51% attack it, or having China buy up all its tokens to create a majority in the POS consensus.

Personally I think ETH will not be more valuable than bitcoin unless it dapps and native token sub-networks become some standard necessary to the backend of our very lives and the token simply becomes insanely scarce. ETH's value is supposed to reflect the demand for the use of the ethereum virtual machine, and nothing more. The more people need to use it for computation and apps, the more scarce the ETH will be and the higher its value. Right now, ETH is being treated sort of like the silver to BTC's gold--- a purely speculative, volatile vehicle for risky investing--- but it's not meant to be used like that or as a store of value. And as I say in my last post, there is no need for two coins that store value. Frankly, I think ETH is overvalued for what it is and how little it's actually used. To put it nicely, it's valued completely speculatively right now and its future usefulness/demand might well be priced in already or soon. Like all alts it is simply captive to BTC's own market cycle corresponding to its halving and to the money BTC brings into the space which is shifted into alts in order to gamble, essentially.

>>24906158
There are tons of idiots flooding biz.

>>24904693
2 Inflation bugs faggot

>>24911024
This post seems so delusional and retarded. Why replace the current centralized system with another centralized system which has a Bitcoin backbone?

>>24911004

>A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]; also a Ponzi game)[1] is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.[2] The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.

Your simple brain is getting hung up on the "funds paid from later investors to earlier investors" part and is glossing over the fact that a ponzi leads people to believe profits are coming from some other source. Everyone involved in crypto trading knows the way the game works or at least should be reasonably be expected to know. There is no central authority promising a return from some extraneous product that does not exist.

Also the entire concept of "profits coming from contributions from later investors" is how all market-traded assets work you stupid faggot.

>>24910798

It's possible, I have to admit. But everyone saying that BTC is like a pyramid scheme because it doesn't have a cash flow or profits needs to realize that the simple act of being unforgeable, secure, and a known quantity (so to speak) is an inherently valuable thing. There are very few things in the world you can say that about, and it's why we have struggled all throughout human history to designate something as the center in our constellations of "value"--- a fixed, unchanging vantage point that everything else can be compared against, something that cannot be reproduced or faked, and is scarce. Gold does not generate profit nor is it very useful beyond an application in electronics that hardly threatens to exhaust the supply, yet it perseveres as the quintessential valuable object.

>>24911050
>ETH's value is supposed to reflect the demand for the use of the ethereum virtual machine, and nothing more.
Equivalently, shouldn't BTC's value then represent the demand for the use of the Bitcoin network and nothing more? The way I see it, ETH's intrinsic value is much higher than BTC's because the Bitcoin network is just a shitty ledger which can handle a single digital currency while the Ethereum network is more like a decentralized virtual machine. In a sense it's a powerful superset of the Bitcoin network.

>>24911045
not an argument
>>24911050
>ETH's value is supposed to reflect the demand for the use of the ethereum virtual machine, and nothing more
as opposed to what? bitcoin has no source of value and doesn't store it. To get some real value out, you have to scam somebody into buying it from you.
Ethereum already generates over 1B in fees per year. The only missing piece is to get rid of mining, at which point it becomes a share in that. Fees are going to grow too.
With 10B/year it's easily going to be valued at 1T. Literally the only decentralized yield positive asset in existence.

It doesn't really matter how many people think bitcoin has value, mining is a tax on their stupidity. It's about 7B per year at the current price. Eth stakers are going to earn billions per year, btc buyers are going to lose billions per year. Good luck with bitcoin staying first.
Not to mention the meme value from eth becoming deflationary.
>>24911125
>Also the entire concept of "profits coming from contributions from later investors" is how all market-traded assets work you stupid faggot.
wrong, that's how ponzi schemes work. Profits in markets are ultimately supposed from the added value being generated, in the case of a company's stock - its profits.
If markets really worked the way you think, wealth generation would be impossible, yet new wealth is being created.
>>24911227
>and it's why we have struggled all throughout human history to designate something as the center in our constellations of "value"
sorry but that's some alternate history. Money is a state invention - a token to demand taxes in. When people were left alone they traded in directly useful assets - like grain, slaves, land.
Gold was the best technology for tax tokens for thousands of years, so it has a lot of cultural staying power, but it's definitely waning already.
Without special tax token, people can just value things they don't personally need in things they need, the most natural way.

>>24904625

>>24904625
>POW is baaaad
>ETH is gooooood
>ETH is POW
oh shit nigga you fucked up

>>24911303

>Profits in markets are ultimately supposed from the added value being generated, in the case of a company's stock - its profits.

When you buy or sell a stock in the marketplace, who are you buying or selling to?

>>24911342
People who want to hold it as an investment more than me.
I may have a better investment in mind, but they don't, or I may want to spend some wealth.

Don't get me wrong, there's a lot of ponzi-type action in stocks right now, but it only lasted so long because central banks have been printing so much money, and in many cases (especially Japan) buying stocks outright.

>>24911410
So you're saying when you sell a stock at a profit (or loss), that cash came from another participant? Your profits came directly from the contribution of a later investor?

>>24911276

I would say no, because while BTC was proposed as a remittance coin, it doesn't need to be. As I say in >>24911227, the simple act of a commodity being scarce, secure, and unforgeable is actually an incredible achievement and can't be said of many things in the world. Such an absolute point of comparison is crucial for gauging the value of any other goods or services in comparison. With technology and even just human craft, most things can be forged if you want to. Gold hasn't been forged yet materially, but has been forged believably for centuries simply by way of appearance. but one day with fusion we will be able to synthesize gold, and it's inevitable we will find exoplanetary sources that make it common enough to pave streets with. At that point it will be meaningless as a store of value if it's everywhere.

Money can be reproduced--- tho it's called a forgery if it's not done by governments or central banks. Valuable paintings or art can be forged by craftsmen so skillfully that they are simply impossible to verify as forgeries, or even when they're found out, these forgers and forgeries are celebrated in their own right. Some artistic forgeries are rare and valuable simply as incredible forgeries. But all it takes for a painting to be "genuine" is for some "expert" at one point in history to deem it genuine, thus giving it a valid provenance that simply becomes more set in stone as time passes. There are tons of cases of art being outed as forgeries decades or centuries after being exchanged as priceless originals--- especially with sculptures from antiquity. the point is that BTC has already won by being scarce, secure, and un-fakeable. That actually makes it an incredibly strange, abstract, and now valuable thing when you think about it that way

>>24911124
Because the currencies in said new system can be governed by protocols and not federal reserves. Look at something like AMPL, for example. 100% inflation resistant.

It's inevitable, that there will be a degree of centralization no matter what we do, since the majority of people will want other people to handle and safeguard their assets.

>>24911583
Same can be said about most other cryptocurrencies though. Then, the only thing making BTC unique is that it was the very first crypto currency.

>>24911487
they got something with real value in return. Shares in a profitable company don't need any buyers to be valuable. If I get 1 million from dividends per year and literally everyone on earth thinks shares are worthless, I still get 1 million per year.
Bitcoin without other investors is completely worthless - which shows it has no value in itself. In bitcoin's case even the network would stop functioning - somebody has to pay miners.

>>24911303

With BTC, it's already becoming apparent that people will lunge at the opportunity to own a store of value whose supply can't be abused by states or central banks claiming that they alone can conjure it out of thin air. The dollar supply has ballooned by 25% in six months and is plunging against other fiat currencies. When I say humans have struggled throughout history to designate a fixed vantage point for value, I don't mean that we have ever arrived at the ideal solution, and gold certainly wasn't it. But fiat definitely is not either, and its mismanagement in the effort to plan our markets and economy is its own downfall and quantitative easing props up dead bloated markets and money printing makes it continually lose value and makes it impossible for anyone without home equity or exposure to markets secure generational wealth. Someone on here aptly said: "Inflation is a tax on the elderly and the poor". Imagine having to fight for 20 years via grassroots political movements just to get the minimum wage raised to 15/hr to combat the way inflation has increased cost of living and made salaries that were sufficient 10 years ago completely insufficient today. Meanwhile the Fed inflates the USD supply 25% in 6 months on a whim and all that work goes out the door

Nothing has a "source of value" other than how well it fulfills a need. Being unforgeable, secure, and scarce is actually an incredible technological achievement that bitcoin was first to do digitally. Also Ethereum doesn't "generate" fees, by the way. It's mildly inflationary, but besides that, fees are paid with already existing tokens. ETH's value is currently completely speculative and certainly not based on the actual demand for the EVM

>>24904691
Yep btc to 1mil unironicly

>>24911735

read my post up above: >>24910456

Yes that BTC is valuable because it was first, but it has also gained our trust and there's very little way to quantitatively account for that. Brand equity is just a technical term for recognition and trust. It has taken years for BTC to even enter the ears of most people, let alone prove that it works as a a scarce, secure, unforgeable commodity. No coin can just be dropped onto the market while touted as the absolute best new alternative and just be picked up by the entire world the way bitcoin has been. There is zero trust for a coin with zero track record, or even only 3 or 4 years of track record. Flaws and mistakes are inevitable, people want to see something work for a long time and continue to work without issues, or to reveal their flaws/vulnerabilities so they can be worked out. Ethereum has had disasters already, and they've been addressed and continue to be addressed. But it's also a challenge to make people believe that something is valuable, especially when it's immaterial like BTC, and ESPECIALLY when it's new and nothing like it has ever existed before. There's no way to engineer public trust and interest in a coin, it's just something that grows the longer the coin exists and doesn't have some major fatal failure or issue with public image

>>24911119
2010 fixed by Satoshi himself, when was the second? 2013 was a db fuckup by core.

>>24912122
Who is Satoshi Nakamoto?

>>24904625

>It will ABSOLUTELY be replaced because it’s INFERIOR TECH.
>The next BIG THING is always around the corner just like my favorite JavaScript framework of the month

>>24912004
Yes, I see your point. I think we both agree that Ethereum is technologically clearly superior to Bitcoin. The question is then if this will allow the Ethereum ecosystem to grow that much that it will gain more recognition and trust than Bitcoin in the end. Most of the interesting new developments are happening in the Ethereum world right now. It remains to be seen if that will also translate to the general public viewing Ethereum as being the best platform and Bitcoin being the old dinosaur with no real use.

>>24904625
>pure democracy
absolute cancer

>>24907991
retarded

>>24904721
but it got bitcoin...

>>24911583
>Gold hasn't been forged yet materially, but has been forged believably for centuries simply by way of appearance. but one day with fusion we will be able to synthesize gold, and it's inevitable we will find exoplanetary sources that make it common enough to pave streets with
don't even have to go that far
just think of gold that's "forged" when you plate gold over tungsten and sell it as a full gold bar

>>24905895
>what is the market cap of btc

>>24906158
How would pow be faster?

>>24912612
Neither is inherently faster than the other.

>>24911004
by your definition stocks, bonds, real estate, and gold are all ponzis
retard

>>24906928
>what it's meant to
debatable

>>24912878
>implying they aren't all in forever bubbles

>>24911814
Store of value is something that generates income. Land is the oldest store of value.
>Being unforgeable, secure, and scarce is actually an incredible technological achievement that bitcoin was first to do digitally
>first
other than that, it's trivial to create an erc20 token with the same characteristics, which prove it's nothing special.
>Also Ethereum doesn't "generate" fees, by the way. It's mildly inflationary, but besides that, fees are paid with already existing tokens.
that's only true under PoW. Eth is worthless under PoW forever, just like btc. It only has some real value currently under the assumption that mining is gone in the future.

>>24911004
Profits from price appreciation doesn't mean it's a ponzi that's how all investments work.

Bitcoin is the king. Nothing will EVER replicate its early organic growth. BCH is the only rival.
XMR is the same for privacy.
YFI is for defi

You can never replicate the pioneers

>>24904625
I've stopped trying to deboonk Bitcoin myths as I know they will only help me accumulate more
Never stop stacking sats until 2040

>>24904758
>will. It will be like 500k so no one can buy it

>>24904721
>2KB

>>24904625
DMG / DMM mTokens are the future. Very few understand right now. Buy and hodl 2 years and then retire.

>>24904691
11 year old tech
> LITTERALLY DIGITAL GOLD AND PROVEN STORE OF VALUE

>>24906980
you can duplicate a bitcoin, and it wouldnt be considered a competitor. you can create an ethereum killer but it can be considered a competitor to ethereum. this is why some companies choose to make their tokens on a neo platform, a dot platform, tron, ada, etc

the only reason bitcoin can sustain its upward momentum is because there are still millions, maybe even just a billion of people worth of capital that still havent heard of bitcoin or believe in it and havent decided to throw money at it. once this supply of people, or generations have passed they would have already been exposed to bitcoin, there will be less outsiders to the point more people are now in the know than not. therefore because of this teetar totter (its only gone up on one side) balance, it is not fair to say bitcoin has secured its spot as a store of value. because the teeter totter only has gone up so far, it still needs to prove its longevity in this regard.

what you are seeing is the first internet generation finally falling in love with this bitcoin idea. less people heard of the bitcoin beartrend and recovery after dropping from 1k, then still with its most recent beartrend from 2017, now people are buying in again. (i dont really feel like editing what i just wrote but i hope that makes sense). you can't forget this is the first generations before we head into 2100, 2200, that have had access to the internet. you can't forget that people are literally alive that were born before the internet, therefore there is a lot of disbelief that can fuel these rallies

PLATINUM WILL REPLACE GOLD BECAUSE ITS MORE SCARCE!!!

bitcoin fixed money printing in 2009
every other crypto since then is recreating the problem (to scam you out of your btc)

Name one working smart contract that the general public uses. Not a fucking token for other shot pins, a legitimate working smart contract that ETH was created for. It’s been how many years?

>>24916230
the thing is most kids are like their parents and dont know or will never learn what proper investments are. most people with the money to buy bitcoin are unironically boomers. once their kids are grown up with their similar capital its questionable that those same kids watching bitcoin on the sidelines and would make their fast paced jokes think bitcoin is valueable because they know it is slow, they just dont have money to care. all the money being burnt is retail who are born to lose their money

the bottom line is everyones timeframes are too small

>>24911105
How am I wrong? You could make the block time whatever you want, it doesn't matter if it's pow or pos. The benefit of pos is you don't need to waste tonnes of power to mine and it's more accessible to everyone in the network. It has nothing to do with speed

>>24904625
It doesn’t do ____ in a MEANINGFUL WAY

>>24906775
humans dont need to compare things to see the value in them. something with a name you never heard of can become popular and people value it. do you think when ethereum became popular it shouldnt have because we didnt know what precious metal to compare it to? there can be a coin to usurp bitcoin not because it needs to be compared to gold but it has a value unique to its own that noone had ever believed in

>>24904625
>NOOOOO BTC WILL NEVER BE NUMBER 1
>BUY MY SHITCOIN INSTEAD IT WILL BE HIGHEST MARKET CAP IN 100YEARS
>TRUST ME IM A CHINK WHO WORKS AT AMAZON

>>24907750
>Qauntum computers
>Nuclear launch codes will go down before bitcoin
Yeah that's pretty fucking retarded, nuclear launch codes are not protected by encryption, but by secrecy

Why do people obsess over real life value?
Everyone said bitcoin was going to die because it provides no real life value, don't they realise that half of their stocks don't either? Tesla is vastly overvalued, and so are many other stocks.

>>24916918
its part of the intellectual discussion about bitcoins value, not its price action

>>24916883
Did you get the covid shot? Cause you talking retarded bro.

>>24909222
Nigger Bitcoin is the most developed Crypto and has by far the most people working on it. People rushing out erc20 shitcoins don‘t count.

>>24906885
this is true, right now crypto startups choose ethereum. but did you notice how many coins since then coined themselves as the ico platform or smart contract platform? its a wonder which one will be the better competitor. i think it'd take an intelligent investor with a smart thesis to figure this one out instead of putting all the eggs into ethereum

>>24916965
nuclear weapons arent connected to the internet

>>24904691
>It's not going to be used for muh cup of coffee at the local starbux, but it will remain the #1 crypto just because it was the 1st and has become recognized as a store of value.
SoV is a massive cope because of the failure to be a peer to peer electronic currency as stated in the Satoshi whitepaper. Furthermore, it can't be a store of value with the network constantly bleeding money to pay for things like electricity.

>>24917962
you bring up an interesting point. although both gold and bitcoin exert energy to find it, bitcoin requires a constant stimulus of energy to prop it up. so that it can always be compared to the same state it was in when it was first freshly "mined". that is stressful to withhold such standards. this faith in a governing body to keep your currency stable is what you can compare to in fiat currencies

fuck janniesv

>>24904625
>Let me tell you about technology I don’t understand

The midwits guide to the galaxy

By looking at how ugly and beta that guy's face looks, I know he is wrong without needing to read it

>>24907750
Nasdaq and nuclear codes can readapt to the new standard. While satoshis wallets will get hacked with quantum computers. Tic toc tic toc

Bitcoin is an onramp. Ethereum is already the superior network by most measures. More nodes, more transactions, more fees paid - more value. Proof of stake makes way more sense than proof of work, because stake is proof of work expended in the past. There's no need for the ongoing waste when compute resources can be put to productive use instead. Bitcoin won't ever go away, but it will become increasingly irrelevant over time vs. networks like Ethereum which continue to evolve to provide more value more efficiently. That's how life works.

>>24904625
>Replace by ethereum
you mean Flare
>Think about it this way, automated taxes !
Taxation is theft, wagie
>In 100 years from now
More like <3-5 years

>>24918327
>you mean Flare
Flare is just a bridge to Ethereum. Do XRP baggies do zero research?

>>24904625
I propose that going off the gold standard in the 70s was a deliberate move for certain players to siphon wealth from the world economy. The WEF is a coalition dedicated to putting an end to this for the good of humanity and the members' own interests/profit at the same time. They want to remove the US as a superpower and establish themselves and a more stable economy. These members are huge companies, a portion of the extremely wealthy, and world leaders. Through their connections and wealth they have had access to the greatest minds available on the planet. They collaborated with these minds and developed BTC with the intention of it eventually being a store of value. (possibly initially called electronic cash to aid with decentralization and introduce the concept of cryptocurrencies in a more palatable way) Once stable, they will use BTC reserves to issue CBDCs and currency issuance will once again be limited to an organization or nation's holdings of a valuable commodity.
Ethereum will be the defacto smart contract platform and be used to power commerce and finance.
LINK will allow legacy systems to integrate into this new network.
The Great Reset will be the death of the USD as the world reserve currency, and the rise of BTC, ETH, and LINK as the infrastructure for economic prosperity.
It's the NWO and we all have a piece of it.

>>24918340
>Flare is just a bridge to Ethereum
No, it use the EVM under the hood for opcodes in order to not reinvent the wheel and gobble up easily all preexisting erc token by being fully compatible, but everything around it is different, no shitty PoW/PoS but a turing complete FBA, that's why it is superior

>>24918378
No one is building on Flare. It's a bridge.
https://cointelegraph.com/news/flare-proposes-new-bridge-to-allow-xrp-to-be-used-on-ethereum

>>24918409
>a shitty 200 words meme article
https://flare.xyz/app/uploads/2020/08/Flare_Version_1.0.pdf
another network, another token

>>24918367
Based and accurate. But Bitcoin's value will get swallowed up by Ethereum eventually. Watch the growth in wrapped BTC.

>>24918456
You don't get it. Flare is an attempt to simulate value on a chain (XRP) that no one uses by tying it to a chain (ETH) that people do. Where are the Flare DApp projects? Can you show them to me on github? Ethereum is the gravitational center of crypto by every measure other than market cap (for now).

>>24905535
inb4 government bans monero

>>24918517
inb4 satoshi atomic swaps to monero

>You don't get it.
Yes I do, it's another network, it's another token, your shitty article is not research
>Where are the Flare DApp projects, Can you show them to me on github?
Snapshot was some days ago, it is not released yet
>Ethereum is the gravitational center of crypto by every measure other than market cap (for now).
that's a short sighted take but ok.

>>24912340

Yeah of course. being turing complete and allowing the issuance of tokens and sub-chains to permit service-specific microeconomies is the most important invention since BTC itself. Without Ethereum, none of the actually interesting use cases for crypto are actually possible or conceivable.

I think ETH and BTC have a mutually beneficial relationship. I think you can safely assume that anyone who has heard of btc and googled crypto to learn what it is has learned of Ethereum and how it's held in just as high a regard and imbued with a sense of utopian potential. If someone hears about BTC through word of mouth or casual conversation, spoken about as some investment that's super valuable and blowing up, those same people are probably also mentioning ethereum in the same breath, also as a highly valuable silver to BTC's gold. The point is that I think we can assume that the spreading recognition and acceptance of BTC brings the same for ETH immediately in its wake. However, I think Ethereum gaining widespread use and acceptance would not make it explode and surpass BTC as the "store of value" coin, even though it COULD. after all, BTC was intended as a peer-to-peer payment coin with the potential for casual everyday transactions, but it's obvious most investors and developers are abandoning that in favor of its simple value as unforgeable, secure, decentralized, unaffiliated with government, and most importantly: completely immaterial unlike problematically unwieldy gold, and anonymously movable with a little knowhow (mixers, IRL shell corporations). same could happen to ETH; maybe holders one day abandon the capabilities of the EVM or tokens.

But I think adoption (and actual use) of the EVM and tokenized microeconomies would actually stabilize its token price relative to the actual demand for running Dapps and processing ERC token movements and their respective Dapp programs. That price could even be less than current ETH price (though I doubt it).

>>24912577
Exactly, I used to do 3D modeling work at a jewelry atelier in midtown manhattan and one of the jewelers there had a skeezy side hustle where he would take shitty metal chain necklaces and bracelets, get them cheaply gold plated, and then unload them on naive buyers on the street. IDK if anons on here have ever seen any gold-plated items when they're absolutely fresh out the gold plating bath before getting messed up with skin oil and scuffed up from use, but it's an unreal luster and beauty that's can't be sufficiently captured in photos and is impossible to capture in words. It's easy to see how an unsuspecting person would assume it's solid and pay full price.

In fact, even with solid gold jewelry we were making that got sold at Bergdorg-Goodman, the insider trick to perfect a piece of solid gold jewelry after the final finest polishing was to get the piece gold plated in the same alloy/color, which added a shine and fetish finish that you couldn't possibly get with manual polishing. Filled in any tiny scuffs and imperfections, makes the surface impossibly, perfectly uniform.

>>24908730
you make a good point, there could less opportunity for future capitalists if the only people who can prosper when all bitcoins have been mined are solely miners. i believe a steady flow of supply/demand and regular shifting of coins to new hands is healthy. but it could feel like a downright future scam if a miner was bidding too much for his coins then you see fit, so the capitalist might go elsewhere to prosper

>>24904691
dumb mother fuckers. what unique properties does bitcoin have that can't be replicated in another coin WITH the improvements of PoS, etc

bitcoin has a big ledger and a longer price history- that doesnt make it a better store of value

>>24918764
you've been scammed into believing PoS, etc are improvements when they've never proven any real world value besides marketing buzzwords used to trick idiots into giving up their btc for shitcoins

>>24912966

what you just said has opened my eyes and I see now that you alone are right and the entire world and multitude of institutions that have invested in BTC are wrong. Tell them right away that BTC and ETH aren't actually worth anything so they can sell ASAP and not lose any money.

Again, there are plenty of coins that function like BTC but better, including ERC tokens. But BTC was the first, has been around the longest, and has passed through that crucial gauntlet of having to teach people it exists in the first place, proving it works and can be competently updated by its community when flaws emerge, building a track record that has proves it's not just going to delete your funds overnight through some bug, and most importantly cultivated peoples' TRUST. It's Brand equity. For BTC, the value lies in a hard-won campaign to convince people of its value, especially because it's digital and boomers have a hard time understanding in particular how something that's not physical could have value. But also imagine an invention with no historical precedent or point of reference trying to show that it's actually worth a shit and can change the world, and which has just been released by an anonymous, unvetted coder using an obvious pseudonym, with no track record or guarantee that it will work and not just get hacked or fail and lose all your money, and which wont even be widely-known in the broader world for most of the next decade. That shit takes time to earn peoples' trust and that operative concept of brand equity. Now for this token you mention, which can do the same as BTC (but better!): no one fucking cares. No one trusts it, no one knows or trusts its creators, no one knows it exists, no one knows where to buy it ("what's a DEX???") and no one wants it because they only just started trusting bitcoin enough to buy it. Make bitcoin copies all you want, but you're missing the point about the fundamental truth that people value things they trust and recognize

>>24918559
Inb4 satoshi pulls off the greatest exit scam in history

>>24910307
what you say actually refutes my point a little but; yes there will always be an annual sum to make. i pointed out in one of my recent comments how ethereum has many competitors now, where other companies want to make their tokens on their platform. such as binance platform, cardano, polkadot, you name it. is it really worth the assumption to guess ethereum will gather a monopoly over them? well how bout this, do sharks like tron and binance, are they willing to gather a monopoly over the other protocols? is there an ideological barrier with vitalik? is he mature enough in his leadership? well all my speculations aside. i suppose you are right to bet all on ethereum because the more you stake the better yield.

i enjoy your point in the second paragraph how billionaires are buying nerd's bags.

>>24904625
>thinking gimmicks mean anything

You can utilize your autism, but only if you leverage your categorization-based contemplations against real world consequences.
This guy unironically thinks because the few blips on his computer are slightly faster than the other blips, that blip a will win because of that.

And this future talk is ridiculous. Our intelligence has been declining since Victorian times and on top of that, we are religiously replacing the descendants of nation builders with people who haven't built anything but mud huts and desert burrows.

In 100 years from now, the majority of the world will be in an outright Dark Age, while there will be a small refuge for civilization, just like parts of the Middle East were in the last cycle. No one will give a shit about crypto when we sleep in gutters and eat worms.

Buy and speculate now, so your family can become part of the new renaissance, don't believe in the future of current technology, and don't fall for autistic pastimes the anti-white regime has set aside to distract you with.

>>24904625
Quadratic voting cements Kleros into the most fundamental part of the Ethereum Protocol and future humanity.
Both BTC and ETH can coexist.

>>24904625
Name ONE (1) consensus algorithm that verifyably is more secure and creates more value than PoW

>>24906048
rarity is not the only quality that makes gold so valued
it’s nobility is more important than its rarity, gold is damned near impossible to destroy and will outlive us all by billions of years
it’s malleability and density makes it easy to divide and verify
and wether or not people want to admit it, the sheen of gold has value as well

>>24910456
quite right on your first paragraph, couldnt have said it better. however you must concede the point made about BTC and ETH, as they too are subject to random sways in the herd mentality. just overnight in the inner "aristocratic" minds of people wanting to fit in, things could quickly fall out of style. but it would be an irrational paranoia to always assume everything you own will be defunct relatively soon. but how soon is immeasurable to the uncertainty of the human mind. in my mind, if it isnt broken, why fix it. but is btc broken as a peer to peer currency?

>>24905335
The MySpace equivalent to digital cash are the first precursors before Bitcoin. Do you actually think there weren't attempts at digital cash before Bitcoin? Bitcoin is Facebook. Every "Facebook killer" just either gets destroyed or integrated into Facebook

>>24905535
Tari smart contracts chain when
you fucking retards promised it in 1 or 2 years in spring or summer 2018 and 2.5 years later nothing
vaporware

>>24919673
if we discovered a metal that was even nobler, rarer, more beautiful and dense than gold as well as having more utilities, like say being useable as a superconductor, then gold would be but a distant memory
gold however is the best our universe has to offer, bitcoin will never match it

ITT people seething at devs and engineers because an Amazon dev is shortsighted.
Literally the people who built this space. Opinions are like buttholes for every dev that hates on bitcoin 20 embrace it.

BTC is the defacto SoV crypto. Masses and big money have made their choice and you can't do anything about it.
Go buy your coffee with rupees

>>24919916
Amazon has one of the worst codebases on the planet and all of their service(s) are on fire 24/7. Why the fuck would anyone listen to any of their engineers?

>>24918764
The age of the chain alone makes it the safest cryptocurrency in the world. PoS is not an improvement as certain properties of PoW mining make it from a economic perspective safer than PoS as the economic investment is real with actual energy and equipment necessary.

>>24920058
>duh chain
Eth already have a longer chain that Shitcoin.

>>24910662
i would just like to add in play. it is the year 2100, you have held bitcoin to 1million dollars. you dont look at your screens for days because you have made it. there is a very small group of people holding 1 coin diligently, they won't sell it. in 10 years no matter how hard they try, they do not sell it and the community grows. 1 year after that this growth appears to be as if it is a tumor and can not be cured. now you hear about this coin for the first time as its popularity grows, but you do not worry because you hold bitcoin, the ultimate store of value. well i'd like to speed things up and show how quickly things could change. the point i'm making is you don't know who your friends are until you've shown them a million dollars, much the same you don't know why people hold anything of value. the anonymous coin that grew rapidly you do not know explicitly, why, someone valued it and it grew. and the point is it doesnt matter what you call a store of value, what happened here in my little play, is a herd of people grew fond of something, and held it as value.
and one little thing i'd like to add here, this isnt like copernicus, where one man can prove there is something better that exists out there, well unless this really is the case in the future of bitcoin, unless there is a humanly body out there to suppress new findings, well you know what comes after, people eventually find out.
sorry if this seems far out, i wasnt quite sure where i was going with this in the middle of writing it.

>>24911124
because its a good faithed judgement that the bodies would not act the same way they are today. hence why he goes on about a free market economy in banking. just because it is centralized doesnt immediately mean it is bad

>>24911325
HAHAHAHA LULZ SO FUNNY LMAO

>>24906940
Bitcoin shills have zero brain power wtf.

>>24904625
Holy based

>>24904625
>Bitcoin will fail because a currency which is easy to tax will replace it.

not likely

>>24904625
https://youtu.be/KhefHCeCNVk

>>24904625
It's impossible to open the mind of low IQ bitcoiners during a bull market. The only two neurons they have are overloaded with dopamine

buy xrupee you will thank me later

>>24915927
Do you not understand that being 11 years old and STILL being used is proof of its acceptance?
Pro tip: look at the top 10 coins each year from 2015 onwards, how many of them are still relevant?

>>24906623
Still using it desu

>>24920133
You're actually fucking retarded, but then again you're a pajeet so what can you expect.

>>24922648
>brags about Btc chain
>cries when he sees Big Eth Chain.