/biz/ - Business & Finance

He's not completely wrong though. The only value of bitcoin as an asset is the fact it's scarce. There's no productive value to it.

So when do the natives go 70 AD Rome?

In Minecraft

>>24923464
yes but he says the scarcity is not ensured in the protocol.
I ask you what is mining reward (mr)= (1/2)^x x-> infinite

Where is mr heading huh? to 0.
where does

>>24923304
>Someone decides to alter the bitcoin protocol to allow constant growth of supply.
>Everyone else: "That's not bitcoin." Keeps using OG bitcoin, forked if necessary.
>New, unlimited 'bitcoin' tanks, if it ever has any value at all.
>Jewconomist: "See, I told you it was a bubble."
>Real bitcoin starts nudging seven figures.

>>24923304
To change supply you only need to change a couple of lines of code lmao and here are like 2 people in charge of BTC main code

boomer is right

>>24923698
Computer code is not written in stone, that's never been the case. Bitcoin could change its supply from on day to another without warning

>>24923464
You can move millions for mere dollars. Try to do that with a bank.

>>24923822
Why do you make claims about things you know nothing about?

>>24923778
>>24923822
read>>24923698
again

You can't fork btc and just say this is btc now.

>>24923920
Bait

>>24923920
It's just weak FUD, he probably holds boomer rocks. You can safely ignore retard posts you know you don't have to reply to them and give them attention. It's just feeding the trolls at that point.

I see this as an endorsement.

(((rosenberg)))
whatever intention this guy has i dont trust him

>>24923951
>You can safely ignore retard posts
But all of you are retarded.

>>24923920
>>24923932
I'm not talking about forks. I'm talking about the fact that BTC is mainly developed by two people and the entire codebase consensus relies on them. Anyone could make a literally bit by bit exact copy of BTC right now and run it on a parallel network like ipfs. Is it Bitcoin? Of course it is.

Bitcoin has never been unique or immutable and never will.

>>24924069
>Is it Bitcoin? Of course it is.
It's literally what litecoin, dogecoin, bch and bsv did. They're not Bitcoin.
Why even post? Why not at least bing the subject first?

>>24924150
You do understand what bit by bit exact copy means, right?

>>24924069
holy fuck what are you on dude? The code is online you can't tamper with it anymore or it becomes a fork and no one is going to have that shitty fork. And copying the code won't change that fact lol.

>>24924150
The crazy funny part is that I could mine those first three coins mentioned, on my browser

>>24924150
Who would change bitcoins code you retard? Satoshi?

>>24923778
Not only do you have to change the code, you have to convince miners and wallet holders to upgrade with your patch, which implies consent, and which users will not do once they realize you're trying to fuck with the supply of BTC. That's l literally how forks happen.

>>24924065
Fucking rude.

>>24924181
>>24924069
Jesus fucking Christ. Your copy supply will never merge with the OG BTC. It will be separate thus being a separate coin just like those he mentioned. Shut the fuck up you stupid fucking retard.

>>24924181
>imagine fudding btc in the year 2008+12, gonna bite the bait
you don't go around telling people "Hey faggots, look at this COPY, it's the same as the original!"
doesn't change the fact that it's:
1)a CLONE, a fake of sorts
2)NOT THE ORIGINAL ONE

>>24924196
>>24924253
>>24924287
>>24924304

What patch? The only difference is that it would be running on a different network, that's it. It's the same exact code. Who cares about miners?

You little faggots are so defensive because deep inside you know I'm right lmao

Remember this: BIT BY BIT COPY

>>24924473
A bit by bit copy runs on the same network. If you change the protocol the other nodes ignore you. If you set it up on a different network like you're talking about but change nothing about the protocol it's still a fork. You can't interact directly between the networks. You're describing exactly what litecoin did as if it's something you discovered.

>>24924557
>A bit by bit copy runs on the same network
Network state is irrelevant, because what you are implying is that if a piece of software is completely different bit by bit but the output is the exact same as BTC then it means it is BTC lmao

You cannot win faggot

>>24924473
Ho lee fuk

Who's going to mine your copypaste coin? Who's going to run a node?

Such arrogance from such ignorance. NGMI

>>24924684
>if a piece of software is completely different bit by bit but the output is the exact same as BTC then it means it is BTC
Yes that's how protocols work. You can implement them using different methods.

>>24923304
>A.)How can someone get into such a position and not understand simple analysis and limits?
Look at these old fucks, they probably shit themselves involuntarily at least once a day and can barely read the font size the whitepaper was originally written in.

>>24924473
>Who cares about miners?
How do you think a network works exactly? Fucking dumb asshole.

>Seething merchant fudding for a better entry point

Oh what a surprise.

>>24924684
If your cryptocurrency uses the same protocol and rules as Bitcoin, then it's bitcoin regardless of how you implement it.
You copy of Bitcoin will follow the same rules as the real Bitcoin and will work on the same network and won't be able to create blocks/coins whenever it wants.

>>24924684
>>24924473
>hmmm I know how I'll hack bitcoin aka the digital asset literally designed to prevent copypaste counterfeiting digital money
>Ah I know what I'll do! I'll copypaste the btc code! No one but me has ever thought of that!
DELUDED NOCOINER COPE

>>24924473
>Who cares about miners?
confirmed bait guys, disregard let's focus on the kike in OP.

>>24924821
I agree, Bitcoin code is irrelevant because, as you clearly noticed, it is possible to mimic it in almost infinite ways.

>>24924899
I could run it on ipfs, the result is the same. I can run it on a private LAN, the results is the same.

>>24924887
Miners are literally just two chink private companies governing the entire destiny of BTC hashrate. I don't give a fuck about them

>>24924986
How many miners control BTC? Fuck off chang

>>24924926
Brainlet responses are the best, keep them coming guys

What is this guys reasoning?

>>24923464
THAT'S NOT HOW A MEDIUM OF EXCHANGE WORKS YOU FUCKING RETARD. DO YOU THINK GOLD WAS USED FOR SO LONG JUST BECAUSE IT WAS OOOOH SHINY? THEY UNDERSTOOD THAT THE SUPPLY WAS SCARCE, YOU COULDN'T JUST MAKE GOLD, AND IT WAS UNIVERSAL. IT'S ONLY VALUE WAS BEING SHINY SO WE TOOK IT AND MADE IT MONEY.

FUCK I'M SO TIRED OF YOU BRAINDEAD RETARDS

>>24925024
>it is possible to mimic it in almost infinite ways
Like how different implementations of TCP/IP "mimic" the original. If you don't implement the protocol correctly your attempts to interact with the rest of the network have no effect. The entire network your implementation wants to communicate with has to reach a consensus for any significant change.

>>24925024
>I could run it on ipfs, the result is the same. I can run it on a private LAN, the results is the same.
The result is not the same since you are part of the Bitcoin network and have to follow the protocol.
You can't temper with the blockchain. If you run bitcoin then you follow bitcoin's rules.

>>24924069
Imagine being this smooth brained and wrong

>>24925024
>it is possible to mimic it in almost infinite ways.
Bitcoin isn't just a client.
It's not like your browser or torrent clients which all implement the same protocols but are different clients/frontends.

>>24925024
>>24925055
>b-but look these miners are big so therefore I can do whatever I want and everyone will do what I say

No.

>>24924069
You almost correct. You meant to say:
>Is it bitcoin protocol?
Yes it is.
But. Is it bitcoin (btc price ticker)?
No, it's not.
And yeah, should the two fucks who code bitcoin protocol (BTC) fuck up, it will cause quite a ruckus. And maybe another fork will take away BTC ticker, or maybe not. Good thing altcoins exist.
And this is exactly what jewconomists don't understand or don't want people to realize. That it doesn't matter whether original bitcoin chain fails or not, the idea (of new money system) is out there, and you can't kill an idea.

>>24923822
back to /pmg/ boomer

>>24925348
Even better, they don't realize yet that even if they manage to dominate BTC with CCP miners and international corps owning most of the extant BTC, it won't give them any control because users can just switch to an alt at any time and escape literally all de facto control over BTC itself. The second they try to dominate, they'll be left holding bags and huge losses on paper.

In a way, (((Rosenburg))) is absolutely correct. The supply of crypto as a whole is infinite. But in the short timescale of a single transaction or a year or an individual's lifetime, the laws of supply and demand work and exchanges can be conducted meaningfully. The only "people" who can get fucked by crypto long term are the institutions. Traders are going to stay ahead of the curve and the real winners are the drug and illicit material dealers and NEET hodlers, the way god intended.

>>24925158
To be fair, Gold has a lot of applicable aspects to it.

>>24925581
I'd sooner start trading in Yu-gi-oh cards than ever go back to relying on """"currency's"""""

Fed is done for, you can't just keep shitting yourself and hoping people don't notice.

>>24925611
Oh I really do agree. But for most of history, we didn't have the technology to harness it. We still aren't quite at the tipping point where gold and silver are being driven by industrial usage, it is just a bonus.

>>24925708
The most practical aside from jewelry and statue shit was filling cavity's with gold

>>24925164
>>24925225
>>24925227
>>24925269
>>24925274
>>24925348

Have sex

>>24925700
Same. Even if I do cash out for divvy income I'm still going to keep most of my wealth in crypto. The dollar is fucking done in my lifetime and I want no part in it.

>>24923910
You can move billions for mere cents with xrp

>>24923464
>whats the instrinsic value of gucci clothing
>how about yeezy trainers
>coca cola
>diamond rings

bitcoin's network effect (brand) has instrinsic value as much as any other brand

>>24926278
also collectibles like art/cards

Met the DuckDAO hunters game, does anyone participate it?

Looks like this crypto incubator can provide convenient options for investments. Please, share your opinion about it

>>24923304

>>24926278
>>24926306
Literally all of those things have intrinsic value in a way bitcoin doesn't (they're physical objects with a utility other than being traded).

Bitcoin has intrinsic value in that it can't be blocked by banks/governments and appears to be unhackable (can't be stolen as long as you keep your private keys private).

Anons. I'm retarded. What exactly does bitcoin or any other normal or promising token does?

>>24926213
The xrp supports the current CORRUPT federal reserve system. You are investing in you and your childrens’ own slavery

>>24926213
I can change a number next to your name in notepad for free. That a group of people are dumb enough to accept my notepad document as an authoritative source of who has what does not say anything about the technical merits of the method.

>>24923304
Well he's wrong in the sense that currently there's a cap of 21 million in the protocol but right in the sense that it could be changed in the future. But then again why would the developers want to remove the cap? They probably hold bitcoin and that would just decrease their bags value lol

>>24923822
AHAHAHAHAHHAHAHAHA


WHAT A RETARD

>>24925842
could you fucking leave the thread you 16 year old downsyndrome kid?

>>24926278
absolutely noone here would have bitcoin if it was worthless

>>24923822

>>24926384
Bitcoin can not be changed unless the majority agrees

>>24923304
>Rosenberg
>"There's nothing to suggest we can't inflate this into the high heavens"
Everything checks out.

>>24925842
excellent bait, now fuck off

>>24926443
No it cannot.

>>24923822
What a waste of digits

>>24924034
What if he told you the story of Dark Plaguerats the Wide?

>>24924069
This is like watching someone dig their own grave

>rosenberg
because of course

>>24923304
He knows he's wrong, but the fools who watch this shit will believe him without seeking out another opinion and it gives his central bank pals a bit more time before their inevitable demise.

>>24926392
bitcoin is stagnant and has like 2 devs because all the money is with bag holders that have no incentive to invest in growing the tech ecosystem beyond memes on twitter.

expect this year or 2 to be bullish for btc but focus slowly migrate to other coins.

>>24923778
He's not right.
>there's nothing in the protocol that ensures 21 million
>to have more than 21 million you need to change the protocol

That change would never gain support of the miners. At best it would be some shit Bitcoin Gold type fork.

Still not as overvalued as tesla.