/biz/ - Business & Finance

[Anonymous No.17449235]

>doesnt scale
>isnt secure
>wasteful
>not decentralized
crypto is a joke.

[Anonymous No.17449266]

>>17449235
>made me $42MM in 2017
Not a joke to me, anon

[Anonymous No.17449294]

>>17449235
>>doesnt scale
True, not on 1st layer
>>isnt secure
False, it is the safest network on Earth
>>wasteful
True, but so is every human activity
>>not decentralized
False, mining pools are not single entities
>crypto is a joke.
False, Crypto is more than Bitcoin and Bitcoin is no joke

[Anonymous No.17449300]

>>17449235

well i guess this is what you would say about bitcoin if you were a clueless newbie or nocoiner

[Anonymous No.17449304]

below 9k here we goooooooooooooooooooo

[Anonymous No.17449314]

massive red dildo coming soon could see $8k in a couple days

[Anonymous No.17449349]

>>17449266
liar
Even if you bought 100 bitcoins for $100 in 2012 and sold at the top for 20k in 2017 you still wouldnt have that much

[Anonymous No.17449446]

>>17449235
not wasteful, a lot of miners go for green energy

[Anonymous No.17449449]

>>17449235
>doesnt scale
doesn't need to in the end
>isnt secure
no safest cryptocurrency or any other medium of exchange exists
>wasteful
It provides the best security so there's point in spending this energy
>not decentralized
lmao do you even try

Bitcoin is the future of store of value. Better than gold, better than seashells. I was doubting too, but the guy who wrote The Bitcoin Standards has really entertaining debates to watch on youtube and it changed my mind about Bitcoin. Absolutely based and blessed coin.

[Anonymous No.17449670]

>>17449449
>doesn't need to in the end
it does if you want it to be even remotely useful for anything outside of speculation.
>no safest cryptocurrency or any other medium of exchange exists
the majority of mining comes from asic farms in china. a chink 51% attack could happen at any moment.
>It provides the best security so there's point in spending this energy
proof of work doesnt provide the best security and its wasteful.

[Anonymous No.17449747]

not as much of a joke as fiat currency

[Anonymous No.17449819]

>>17449294
Chinese mining pools have a number of attacks they can pull on the network, but ignorance is bliss I guess.

[Anonymous No.17450212]

>>17449235
>doesnt scale
This is what convinced me that boomer rocks aren't going anywhere. It's not that bitcoin can't scale, it's that it has chosen not to scale. Bitcoin is software, its properties and functionalities are decided by people, and different people have different views on what bitcoin should be. In this early stage bitcoin's development has been taken off the rails of its intended progression, and ideologues convinced that it's more important that small scale users can run a node at the expense of pricing them out from actually using the asset have convinced most of the rest of us that this is a good idea. It's not unreasonable to think that we would remove the 21 million cap at some point for ideological reasons, after all it was put there for ideological reasons.

Gold can't have any of these problems, it's just a shiny rock.

[Anonymous No.17450309]

>>17449670
>it does if you want it to be even remotely useful for anything outside of speculation.
sure, just like dollars are useless for transactions because transactions finalize after 2 days between banks, not even talking about international transfers. Not what I was talking about.
>the majority of mining comes from asic farms in china. a chink 51% attack could happen at any moment.
Pools don't matter, EVEN IF not a single one has more than 20% power.
>proof of work doesnt provide the best security and its wasteful.
except it does in Bitcoin network

[Anonymous No.17450752]

>>17449235
>social scale
>most secure cryptography ever, double hashed addresses
>colossal hashrate about to double with the Texas plant
>multiple teams working on it, protocol hasn't had a hard fork since 2014, colossal number of nodes, 99.99% uptime

[Anonymous No.17450780]

>>17449235
fuck you bcashsvfaggot.

[Anonymous No.17450829]

>>17449235
Crypto isn't a joke, bitcoin is ever since Satoshi disappeared.

[Anonymous No.17450996]

>>17449294
You can't scale on layer 2 with a broken layer 1. You wouldn't even be able to open enough channels.

It's not secure because transactions can be rolled back. Transaction finality is not optional. Any POW coin is inherently insecure and DOA when it comes to mainstream adoption.

[Anonymous No.17451007]

>>17450829
literally the opposite for both

[Anonymous No.17451014]

>>17450996
Yeah, transactions can be rolled back if the network decides to do that. Anything can then

[Anonymous No.17451047]

>>17451014
Only coins that operate on "longest chain wins" have rollbacks.

[Anonymous No.17451054]

>>17449235
Yes

[Anonymous No.17451072]

>>17451007
>creator disappears completely, leaving Bitcoin to become fragmented as bickering increases
>"this is a good thing"

You're delusional and it's pathetic to see.

[Anonymous No.17451083]

>>17449235
You forgot
>not anonymous

[Anonymous No.17451225]

>>17451072
you don't seem to understand that it benefits bitcoin.
Literally whatd does that change anyway? If the creator is here or is it being developed independently? How is it wrong that the project is being developed by the community from all around the world

[Anonymous No.17451269]

>>17451225
>creator disappears completely, leaving Bitcoin to become fragmented as bickering increases
>"this benefits Bitcoin"

The absolute delusion lmao.

[Anonymous No.17451687]

>>17451072
>>17451269
t. richard heart

[Anonymous No.17451932]

>>17451269
This is clear evidence that real Satoshi is much smarter than Craig

[Anonymous No.17452700]

>>17451083
that too