Bitcoin price prediction and analysis

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Bitcoin price prediction and analysis Anonymous Sat Jan 2 14:22:58 2021 No.12537128 [Reply] [Original]

I did a quick analysis of how bitcoin peaks after each halving. The tl;dr version is bitcoin will peak around $70,000 to $100,000.

I'm including a bitcoin price graph (y-axis is in log scale) and a excel snip-it of my calculation.

Bitcoin price increases after each halving, but by how much does it increase? What I think happens, is that after each halving the bitcoin price increases X fold, but after each subsequent halving the price increase is reduced by a factor of 3 (this is shown in the excel screenshot).

Anonymous Sat Jan 2 14:25:54 2021 No.12537142
File: 21 KB, 878x255, Bitcoin Price Excel Snip-it.png [View same] [iqdb] [saucenao] [google]

My analysis assumes that that price increase reduction remains constant after each halving. I don't have a way of knowing if this is correct, but after the next peak and subsequent bear market it will be confirmed or denied.

What do you guys think, do you think my prediction/analysis makes sense?

>>	Anonymous Sat Jan 2 14:26:57 2021 No.12537147 Is it really at 30k? It was at 19k like 4 weeks ago

>>	Anonymous Sat Jan 2 14:27:50 2021 No.12537149 >>12537128 >>12537142 The factor of 3 was simply calculated by dividing 92/29=3. And all of the over values highlighted in yellow were back calculated from that.

>>	Anonymous Sat Jan 2 14:30:44 2021 No.12537161 >>12537128 Ok here goes my analysis. Let P(t) be the price of Bitcoin, then the following holds: [math] P(t)\to 0, ~t\to \infty [/math] Q.E.D

Anonymous Sat Jan 2 14:31:03 2021 No.12537162

>>12537147
Yea its at 30K, but I think its not to late to make some profit, I think it will at least double in value over the course of the bullrun, and based on the last bullruns following the halvings, the bullruns have gotten longer (12 months in 2012, and 16 months in 2016 to 2017).

>>	Anonymous Sat Jan 2 17:34:09 2021 No.12537836 >>12537161 Seems about right. Also OP this isn't /biz/ >inb4 technical analysis No studies have shown that investors and hedge funds that base their strategy on technical analysis don't outperform markets, hence it isn't a science.

>>	Anonymous Sat Jan 2 17:38:53 2021 No.12537860 >>12537147 peak is above 50k for this run, for sure. Want to quick buck it? buy ASAP, sell at 47.5k Rebuy at the dip to ~16,000-18,000

>>	Anonymous Sat Jan 2 17:40:19 2021 No.12537866 >>12537860 Also, I been in the crypto game since 2010. None of my predictions have been off by more than 20% If you apply the widest margins to what I've shared here, you can still make out like a bandit.

Anonymous Sat Jan 2 17:42:47 2021 No.12537874

>>12537860
>>12537866
If you have $10,000 to slap in and out of crypto.

The next couple days could make you $5,000+ liquid, with reinvestment of your initial capital, off the low/hi peak sell and the dip buy, if you cap it within the next 12 hours.

You buy after that, you're on your own.

>>	Anonymous Sat Jan 2 18:37:48 2021 No.12538092 >>12537128 most of the investors going into bitcoin right now don't even know what the fuck halving means so i don't think they're carefully planning some retarded halving date into their equation of whether to buy or not

>>	Anonymous Sat Jan 2 18:50:59 2021 No.12538133 >>12538092 Yeah a lot of it is an inflation hedge strategy as well as FOMO.

>>	Anonymous Sat Jan 2 19:25:49 2021 No.12538265 >>12537128 phrenology is not science >>>/biz/ is that way my friend

Anonymous Sat Jan 2 19:36:44 2021 No.12538302

>>12538265
Not, OP, but I'm curious:
Sci types are generally very bright yet shittily paid, especially PhD students, etc. Whatever you all think of crypto on the whole, obviously there are people out there making a lot of money from it. And most of them are not particularly well informed or talented. Are you not at all tempted to apply a little thought to it and make some money? It's an immature market, there's far more opportunity there than something like Forex. I get that you aren't primarily motivated by money - but what about having enough money to be comfortable, to pursue your own goals, etc?

>>	Anonymous Sat Jan 2 19:42:29 2021 No.12538321 >>12538302 Because for every person that makes money there is a person that loses money. It's just gambling.

Anonymous Sat Jan 2 23:32:48 2021 No.12538955

>>12538302
It seems that /sci/ is full of PhD students living off a shitty 25k year stipend.

I completely agree with you about taking some initiative and making some money when you can. Anyone looking at bitcoin performance over the last 10 years can see a semblance of a pattern. I was really curious to see if I'd get any meaningful feedback about my though process, I guess not. \_(ツ)_/¯

Anonymous Sat Jan 2 23:41:52 2021 No.12538970

>>12538955
You need to add this scenario

Scenario: 20% market correction in next 3 months

This would remove X amount of capital from people using it as a hedge

You must also quantify a coefficient for for sell offs which would rely in part on how many sell offs occur in what timespan before a runaway effect happens

Going up too quickly can also trigger a sell off

Anonymous Sun Jan 3 00:01:16 2021 No.12539005

I bought LINK for 12 cents a piece at 10,000 from Etherdelta years ago. I don't hold BTC, and am just waiting for it to hit 30 dollars USD. If the SEC kicks in I have a sell price at 8 bux, but that would really suck. I'm expecting it to go to 30 next year, assuming we survive the next six months. Shoutout to the Ripple fags, lmaoooooo

Anonymous Sun Jan 3 02:33:24 2021 No.12539320

>>12538321
I have no doubt that this is speculation for most, but it isn't gambling. Do you honestly believe that someone with an informational or procedural advantage isn't better placed to make money in crypto? There are around 6,500 crypto projects right now. The majority of them are scams. But some are not. Do you honestly believe that someone who does research cannot better place themselves to make money? Even if it WAS zero-sum, which I don't think is strictly true - some projects DO create value, same as the stock market - surely an intelligent person can place themselves at an advantage compared to others? This isn't roulette. It's also worth mentioning that the potential risk/reward is asymmetrical e.g. potentially lose 100% of your money invested vs potentially making 1000x returns. How can someone with a mathematical or statistical or even information-gathering edge not take an interest in that?

Again, I know it isn't all about money - not everyone wants to work themselves to death in an investment bank. But a PhD student could potentially take $100, do some well-informed research, code a bot, or codify a trading strategy, and never have to worry about finances ever again.

>>12538955
See, I dismissed it in around 2010, 2012, and 2017. I've now had enough time to realise there is SOMETHING to it. And like you said, there are definitely patterns.

>>12539005
Why not spin some of that off in to other projects instead of waiting for a 4x?

>>	Anonymous Sun Jan 3 02:40:54 2021 No.12539336 >>12537128 I could have bought bitcoin at $50 a coin. Heh. Not that it matters, I would have sold it at $500 and used it to buy beer.

>>	Anonymous Sun Jan 3 06:33:48 2021 No.12539855 >>12539336 Heh, nothin personnel kid

>>	Anonymous Sun Jan 3 06:42:15 2021 No.12539871 >>12537128 Just train a neural network to predict bitcoin value

>>	Anonymous Sun Jan 3 07:45:56 2021 No.12540000 >>12538092 Which is why it's guaranteed to have a pop north of 45-50k

Anonymous Sun Jan 3 07:47:05 2021 No.12540004

>>12540000
Those idiots are going to sell as soon as they make any money, and tumble some whale bots into sell outs.

A bubble will trigger, and Bitcoin will repeat the cycle of life that has kept it going.

Pump, Dump, Pump, Dump...
Bubble, Crash, Bubble, Crash...
Yet Bitcoin lives on...

>>	Anonymous Sun Jan 3 07:48:09 2021 No.12540010 >>12539871 Already did. My mind is a neural network, trained on Bitcoin.

Anonymous Sun Jan 3 07:50:02 2021 No.12540015

>>12538970
The too quick sell-off is going to happen.

Between 45-50k.

Personally, I play close to the chest, and wouldn't sell until 47.5k

I think an approach to 50k would trigger a mass sell off, it it gets close in the next week, a crash will happen.

>>	Anonymous Sun Jan 3 07:51:06 2021 No.12540016 >>12538321 Oh shit, anytime an employer pays an employee they lose money, and the employee makes money! It's gambling! Someone loses money! Someone gains money!

>>	Anonymous Sun Jan 3 07:52:12 2021 No.12540018 File: 246 KB, 680x709, opsfacewhen.png [View same] [iqdb] [saucenao] [google] >>12540016

Anonymous Sun Jan 3 12:31:52 2021 No.12540601
File: 7 KB, 246x250, neetpepe.jpg [View same] [iqdb] [saucenao] [google]

>wake up
>shitpost on 4chin
>trigger libtards in youtube comment sections
>haha
>eat chicken tendies
>they are good
>thank you, chicken tendies
>check my coins
>they are up
>eat more tendies as a rewards for my superior intelligence
>life is good

>>	Anonymous Sun Jan 3 12:43:48 2021 No.12540642 Be warned: https://en.wikipedia.org/wiki/Tulip_mania

Anonymous Sun Jan 3 13:18:21 2021 No.12540760
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>scholar.google crypto forecasting
>all papers published in literal who journals
What's the deal here? Is crypto forecasting a meme or are serious researchers snubbing it for no good reason?

>>	Anonymous Sun Jan 3 13:44:31 2021 No.12540833 >>12539320 >some projects DO create value No they don't. It's literally just the illogical extension of fictional currencies. There is no value.

Leddit spacing Sun Jan 3 14:03:18 2021 No.12540904
File: 1.88 MB, 5000x5000, btc_pepe.png [View same] [iqdb] [saucenao] [google]

>>12540760
Quantitative finance journals are for graduate students to advertise themselves to hedge funds

Hedge funds keep their algorithms secret because public knowledge of them would eat into their returns

Their returns are in the millions so they have extremely strong incentives to guard them

Best way to get hired by a top hedge fund is to publish a result they've already discovered in private but haven't released

>>	Anonymous Sun Jan 3 18:03:41 2021 No.12541876 >>12540904 >only way for hedge to know you figured it out is to publicize it >publicizing it loses you money >why would you ever do this

Anonymous Sun Jan 3 22:07:37 2021 No.12542573

infinite growth is retarded and doesn't even make sense.
So why is BTC constantly going up for no reason?
Where is the demand for bitcoin coming from, exactly? If it's pure speculation, fuck that noise. I'd believe it if third worlders were using it to get around their shitty currencies at least.
Stinks of a scam to me. Just because you can get in and out and profit doesn't make it not a scam.

>>	Anonymous Sun Jan 3 22:11:49 2021 No.12542593 >>12542573 It is the billionaires penny stock.

>>	Anonymous Sun Jan 3 22:32:19 2021 No.12542660 Crypto is the easiest way to get rich. Anyone who says it's gambling is just coping

>>	Anonymous Sun Jan 3 22:35:40 2021 No.12542673 File: 64 KB, 1268x408, 1588212812120.png [View same] [iqdb] [saucenao] [google] >>12537128 >dude, TA dilate

>>	Anonymous Mon Jan 4 07:00:16 2021 No.12543656 >>12542573 Halving - Money Laundering - Pornhub Go try to buy Pornhub premium, right now. Let me know what the payment methods are.

Anonymous Mon Jan 4 07:02:38 2021 No.12543662

>>12543656
https://www.pornhubpremium.com/premium_signup/

That's the legit page to sign up for Pornhub premium.

After Mastercard and Visa turned their back on Pornhub, Bitcoin was still there, holding the umbrella, through the payment method rain.

Pornhub and Crypto are like Peanut Butter and Chocolate.

>>	Anonymous Mon Jan 4 08:02:32 2021 No.12543753 >>12540642 Right, but you know that Bitcoin has limited supply, right? Comparing it to tulip mania means you have zero knowledge of one or the other.

>>	Anonymous Mon Jan 4 08:10:12 2021 No.12543773 >>12543753 Yes, but it has zero real value, so if it's going to fall, it's going to fail spectacularly.

>>	Anonymous Mon Jan 4 08:16:11 2021 No.12543784 >>12540601 Chicken lowers testosterone. I know your shit posting but you should only be eating pork or beef, occasionally fatty fish like salmon or deenz. Poultry is the soi of the meat world.

>>	Anonymous Mon Jan 4 08:17:50 2021 No.12543790 >>12543784 coin is down :(

>>	Anonymous Mon Jan 4 08:22:23 2021 No.12543799 At some point people will realize that meme coin is a fundamentally worthless commodity and the price will crash to zero. I wonder when that will be.

Anonymous Mon Jan 4 08:33:27 2021 No.12543824

>>12543773
If Bitcoin fails, all of crypto fails.

Right now, that would be a bigger collapse than Lehman brothers in 2008. (monetarily)

Adjusted for inflation, maybe not, but we are approaching the point, where Bitcoin by itself will be bigger than the biggest entities to fail and take their net worth with them.

Anonymous Mon Jan 4 08:35:11 2021 No.12543825

>>12543790
Someone pulled a dump on a 1 billion USD transaction across Bitcoin a few hours ago.

Monday morning, markets just opened.

We'll probably hit a new all time high by Thursday at the latest.

Likely Wednesday.

Scared shorters/sellers will liquidate out by Tuesday, and they will have missed the boat, of the rise coming between now and next weekend.

>>	Anonymous Mon Jan 4 08:36:25 2021 No.12543830 Yet somehow Ethereum is almost at 1,000$ Mark my words /sci/, I've met Vitalik Buterin in person. Ethereum will hit $2,000 this year. Want to double your money? All in on it.

>>	Anonymous Mon Jan 4 08:38:54 2021 No.12543842 >>12543824 That's what happens with asset bubbles. A lot of people lose their money and a small number become insanely wealthy. Same thing happened with Tulip mania.

>>	Anonymous Mon Jan 4 09:02:45 2021 No.12543902 >>12543830 Amazon is safer and is garunteed to double and is drastically undervalued relative to the huge growth the past two quarters. Estimates right now place the target share price at $4150. It will be $6000 by end of year.

>>	Anonymous Mon Jan 4 10:26:42 2021 No.12544090 >>12540833 Ah, Dunning-Kruger in evidence here. That's utterly fucking wrong. Not every crypto is dogecoin.

>>	Anonymous Mon Jan 4 10:59:31 2021 No.12544138 File: 80 KB, 680x676, ballot.jpg [View same] [iqdb] [saucenao] [google] >>12544090 >hating on dogecoin? >dogecoin is based what?

>>	Anonymous Mon Jan 4 14:08:59 2021 No.12544706 >>12543842 Bitcoin can be used for trade, tulips are useless. So not the same thing at all.

>>	Anonymous Mon Jan 4 14:14:12 2021 No.12544723 >>12537128 please do binance coin can it it $75 to $100 this br

>>	Anonymous Mon Jan 4 21:10:19 2021 No.12546117 File: 16 KB, 275x183, thebraingame.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Mon Jan 4 21:18:57 2021 No.12546148 >>12538955 The same lesson has been learned over and over since 1849 - if you want to get rich off a gold rush, sell shovels. If I were looking to profit off crypto I'd be looking at content creation around it, tools, etc.

>>	Anonymous Mon Jan 4 21:23:17 2021 No.12546157 >>12544090 Every currency is dogecoin. It just happens that some currencies are backed by governments.

>>	Anonymous Tue Jan 5 09:57:26 2021 No.12547725 Alright boys, Tuesday, time for the weak and feebles to sell out. New all time high by the end of this week. Mark my words.

>>	Anonymous Tue Jan 5 11:12:57 2021 No.12547906 >>12537128 Semi-related question; why do bizfags love candlestick graphs so much? They don't seem to convey much information to me. What am I missing?

>>	Anonymous Tue Jan 5 11:16:08 2021 No.12547912 >>12547906 The box conveys the open and close, and the wicks show intraday high and low which is useful for volatility.

>>	Anonymous Tue Jan 5 11:18:25 2021 No.12547918 >>12537128 What a complete fucking waste of time lmao

Anonymous Tue Jan 5 12:18:32 2021 No.12548076

>>12543824
>Right now, that would be a bigger collapse than Lehman brothers
lol no
bc is a fake market, no one is using it, transactions are rare.
It can collapse tomorrow and the world would be the same, exactly how it is still the same after it rose to quickly.

>>	Anonymous Tue Jan 5 12:20:04 2021 No.12548079 >>12538302 >It's an immature market, there's far more opportunity there than something like Forex guys foxnews and cnn are in this thread careful

>>	Anonymous Tue Jan 5 12:21:50 2021 No.12548083 >>12542573 >infinite growth is retarded and doesn't even make sense. you must hate the stock market lmao

>>	Anonymous Tue Jan 5 12:38:25 2021 No.12548123 This thread has nothing to do with science nor math, MODS move this compilation of horse vomit out if here.

>>	Anonymous Tue Jan 5 18:46:52 2021 No.12549242 >>12548123 u mad?

>>	Anonymous Tue Jan 5 20:40:27 2021 No.12549690 >>12548123 Stay poor

>>	Anonymous Tue Jan 5 20:53:38 2021 No.12549726 >>12537128 >>12537142 >>12537860 >>12540000 BTC will slam into the fucking ground when the tether scam gets exposed >>12540010 >>12539871 What does it say about tether lawsuit?

>>	Anonymous Tue Jan 5 21:34:22 2021 No.12549859 >>1253783 This is the correct answer. The number you make makes you confident, it doesn't make you more right.

>>	Anonymous Tue Jan 5 21:37:00 2021 No.12549871 >>12549242 >>12549690 /biz/ is leaking scammers left and right MODS MOVE THIS THREAD ALREADY

>>	Anonymous Tue Jan 5 22:05:00 2021 No.12549992 >>12549871 >bitcoin is a scam >worth more than a pound of gold

>>	Anonymous Tue Jan 5 22:09:29 2021 No.12550009 >>12549992 The value of something is not determined by the price a retard pays for it.

>>	Anonymous Tue Jan 5 22:20:23 2021 No.12550032 >>12549992 You don't even understand the actual meaning of value, scammer.

>>	Anonymous Tue Jan 5 22:24:31 2021 No.12550039 >>12550009 >>12550032 -adjusts glasses- >akshully hahaha nerds

>>	Anonymous Tue Jan 5 22:25:35 2021 No.12550045 >>12550039 https://www.youtube.com/watch?v=6mjuAjtqMoY

Anonymous Wed Jan 6 03:48:54 2021 No.12550684
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honestly, for 1 bitcoin you can have

118 000 HTR

Bitcoin is at 640 billion usd
whole market is almost 1 trillion and yes willbe 2-3 more soon.

But HTR is ETH at 50 cents and basically at 50 million marketcap

It will be much easier for hathor.network to go 100x

just dyor

>>	Anonymous Wed Jan 6 05:41:46 2021 No.12550871 Bitcoin went up from 20k to 30k in a matter of weeks. Suddenly, it was announced that banks can pay with bitcoin? The elite are insider traders in this system too

>>	Anonymous Wed Jan 6 05:50:14 2021 No.12550882 I've been punching myself for not getting into this for a decade now. When do I get into Bitcoin?

>>	Anonymous Wed Jan 6 05:56:45 2021 No.12550892 File: 93 KB, 660x574, pepe.jpg [View same] [iqdb] [saucenao] [google] How do I buy bitcoin

>>	Anonymous Wed Jan 6 06:00:31 2021 No.12550896 >>12550892 whenever people start posting about bitcoin is not a good time to buy it. Wait until you dont hear about bitcoin for a while, and buy it then.

Anonymous Wed Jan 6 11:28:09 2021 No.12551525

>>12550896
this is dumb

this is how you get caught not making money

Check price trend, difficulty, news, etc...

Understand what makes the market move, and by how much.

Invest when you know it will increase.

Right now, Bitcoin is slated for a bull run. It will probably not peak before 45,000.

It is currently 35,000.

Do with that information, what you will.

Anonymous Wed Jan 6 12:32:10 2021 No.12551740
File: 17 KB, 703x395, hzpl.png [View same] [iqdb] [saucenao] [google]

>>12551525
fomo is not making money
The best you can say is buy the dip, not predict market based on lines you draw on paper. There is no telling which set of lines if correct. You aren't even advocating for that astrology level analysis. You say market is green for go so buy. Which peak are you talking about by the way?
Back to biz shillfag

Anonymous Wed Jan 6 12:38:17 2021 No.12551757

>>12551740
Oh I'm a longer bruh.

When I say peak 45-50k, I mean it's going to hit that mark, then plummet to like... 16-24k for some weeks

There's a small opportunity to make money, but it's right now, in terms of buy in.

If you miss the boat before 43.5k don't buy.

Anytime before then, why not make some booty?

For the real OG's, buy after the upcoming "crash"

>>	Anonymous Wed Jan 6 14:33:55 2021 No.12552177 Made $100, thanks OP

>>	Anonymous Wed Jan 6 14:48:26 2021 No.12552240 >>12537128 Bitcoin is finite. Finite payment system that ends. But buying now is a profitable investments even for future of humanity.

Anonymous Wed Jan 6 18:32:04 2021 No.12552955

>>12544706
Bitcoin is literally has no use case due to the limited technology behind it. Everyone knows this.
>>12548076
>It can collapse tomorrow and the world would be the same
No it wouldn't. GPUs would finally be in stock and at a regular price again. Fuck miners.

>>	Anonymous Wed Jan 6 19:54:11 2021 No.12553114 >>12552955 It is scalpers that did it this time fuck. Why don't you nerds develop a website they don't immediately bot order from.

>>	Anonymous Thu Jan 7 01:06:49 2021 No.12553669 I bought some around 2018 and pretty much forgot about it, now it's worth three times the original value, from what I read from this thread, should I hold until it hits 50k and then sell? I don't trust those cultists from biz with this stuff.

Anonymous Thu Jan 7 02:12:03 2021 No.12553743

>>12553669
No wrong answer, it all depends on your risk tolerance. Bitcoin is a bubble waiting to pop and you're standing the risk of losing it all once the price takes a nose dive. You're not going to get perfect timing and sell the day before the crash so you might as well make peace with that and sell to get some actual gains while you still can.

>>	Anonymous Thu Jan 7 03:22:33 2021 No.12553849 >>12543825 >We'll probably hit a new all time high by Thursday at the latest. Just sayin', this poster hit the nail on the head on that one, maybe the rest of his posts will check out too?

Anonymous Thu Jan 7 15:35:43 2021 No.12555296

>Bitcoin is a machine that makes free money for everyone

No, it's a zero-sum game, based on human psychology and it cannot be predicted by any means.

For instance, can you explain why it rocketed from 6k and is now reaching 100k?
It was 6k for years, literal years. And nothing changed. It wasn't developed in any way during this time.

>>	Anonymous Thu Jan 7 16:00:06 2021 No.12555359 >>12555296 Because JP Morgan says so. -duh- Get with the times, Boomer.

>>	Anonymous Thu Jan 7 16:07:36 2021 No.12555388 >>12537128 It's going to be worth nothing when it gets shut down later this year.

>>	Anonymous Thu Jan 7 17:12:51 2021 No.12555577 >>12537128 Jesus fucking christ, just imagine if Von Neumann was born today. He would have a field day with this shit. A deflationary asset with proof of work behind it, this shit is better than %99.9 of the accepted currencies we use.

>>	Anonymous Thu Jan 7 17:23:18 2021 No.12555629 File: 60 KB, 699x485, 430.jpg [View same] [iqdb] [saucenao] [google] >>12555296 It can only go up, so returns on my investments can only go up!

>>	Anonymous Thu Jan 7 17:43:47 2021 No.12555690 >>12550871 Correct. It's easy to see by looking at how many bitcoins are actually in circulation and traded. Less than 4%. It's the greatest scam ever.

>>	Anonymous Thu Jan 7 18:15:32 2021 No.12555788 File: 9 KB, 219x230, 1609826150087.png [View same] [iqdb] [saucenao] [google] >>12543773 >it has zero value >literally trading for $39,000 USD today ngmi nocoiners are retarded

>>	Anonymous Thu Jan 7 18:26:04 2021 No.12555817 >>12537128 Cryptoniggers are striking again. I'll just wait for the crash :^)

>>	Anonymous Fri Jan 8 04:46:56 2021 No.12557371 >>12537860 When do u think it will go to around 15k $ again?

>>	Anonymous Fri Jan 8 09:18:46 2021 No.12557938 >>12557371 tomorrow

>>	Anonymous Fri Jan 8 10:27:06 2021 No.12558150 >>12557938 Screenshot

>>	Anonymous Fri Jan 8 10:32:34 2021 No.12558165 >>12540016 Retard

>>	Anonymous Fri Jan 8 10:33:42 2021 No.12558171 >>12537128 It can't grow forever. Once people get enough money, feel the adrenaline and fear it will sink. All these bitcoin shill threads and news are just retarded /biz/ faggots trying to pump it all they can until it crashes.

>>	Anonymous Fri Jan 8 12:10:26 2021 No.12558538 >>12558171 > It can't grow forever. fiat money buying an asset he doesnt know about this printer technology

>>	Anonymous Fri Jan 8 16:21:08 2021 No.12559414 >>12558171 >attempting to pump with you broke faggots Not likely. Takes billions to move the market by any frightening amount.

>>	Anonymous Fri Jan 8 16:48:51 2021 No.12559497 >>12555788 >>12555788 zero REAL value. Meaning nothing will stop it when it starts falling, as it has literally no uses whatsoever.

Anonymous Fri Jan 8 17:03:56 2021 No.12559543

>>12559497
>zero REAL value. Meaning nothing will stop it when it starts falling, as it has literally no uses whatsoever.
USD also has zero real value - it's just some papers or 0's and 1's.
Diamonds also barely have value, gold outside of electronics is also useless.
What really has value: water, food, land, oil and other energy sources, weapons and cute anime girls.

Not a shitcoin shill though.

>>	Anonymous Fri Jan 8 17:06:04 2021 No.12559547 ܂

>>	Anonymous Fri Jan 8 17:07:44 2021 No.12559556 File: 147 KB, 891x436, pizzacoin.jpg [View same] [iqdb] [saucenao] [google] Imagine being the guy who spent 10,000 bitcoin on a pizza and seeing what each bitcoin is worth now.

>>	Anonymous Fri Jan 8 17:09:43 2021 No.12559563 File: 92 KB, 1474x481, xe.jpg [View same] [iqdb] [saucenao] [google] >>12559556 Hope he got the toppings he liked.

>>	Anonymous Fri Jan 8 17:35:21 2021 No.12559672 >>12559556 You could say the same about any coin that did a 100x this week.

>>	Anonymous Fri Jan 8 17:46:15 2021 No.12559703 >>12559543 All currency is backed by gold. Learn some basics before sinking your whole money into a scam. >Not a shitcoin shill though. Ah, good.

>>	Anonymous Fri Jan 8 17:47:24 2021 No.12559708 >>12559556 If you try to cash out 10,000 bitcoin right now, the whole market will crash.

>>	Anonymous Fri Jan 8 18:08:15 2021 No.12559783 >>12542573 End cycle luxury speculation

>>	Anonymous Sat Jan 9 05:44:32 2021 No.12561430 >>12559703 When did you learn about that? The Bretton Woods system was canceled literally fifty years ago.

>>	Anonymous Sat Jan 9 05:45:40 2021 No.12561433 >>12559543 >USD also has zero real value - it's just some papers or 0's and 1's. https://en.m.wikipedia.org/wiki/Hyperinflation

>>	Anonymous Sat Jan 9 06:24:39 2021 No.12561514 >>12561430 Fuck, it's all fiat now? I'd go into coins but >>12555690 is a good point.

>>	Anonymous Sat Jan 9 06:26:36 2021 No.12561522 >>12559543 The USD has value because you can use it to buy stuff. You can barely buy anything with memecoin, and the moment vendors start adopting it, governments will step in and ban it.

Anonymous Sat Jan 9 06:40:04 2021 No.12561545
File: 300 KB, 512x512, 1609858386458.png [View same] [iqdb] [saucenao] [google]

>>12537128

had been trading BTC and other crypto scams in 2019 - was fun and a great experience in trading, didn't lose squat, didn't win big either barely made it with a few hundred bucks upside

the last leg BTC is standing on is "store of value"

well that store of value is of no use in any of these scenarios:

- quantum computing getting to a point where its useful and able to screw any encryption

- (inter)net, power availablity

- government crackdown, once they shill their own digitial currencies (on their way ...) why would they tolarate this still small yet growing "cancer"

- trace-ability hodl your shit offline all you want, its of no use there and they could easily find out where the leads end

- all kinds of hacks, exploits and the still by crypto shills disregarded "stable coin" scams that pumped btc probably since their inception

till then enjoy your gamble, you could win big - or get shaken out like 90% or more of average joe users that EVER held even a fraction of crypto scams

>>	Anonymous Sat Jan 9 08:16:04 2021 No.12561707 >>12561545 >quantum computing getting to a point where its useful and able to screw any encryption That's an old meme which was never true.

>>	Anonymous Sat Jan 9 08:26:18 2021 No.12561730 Yes, good goy. Don't take your money out of the ponzi- uhh I mean smart investment scheme. Just keep 'hodl'ing. Don't worry goy, your money is safe with me.

>>	Anonymous Sat Jan 9 11:17:50 2021 No.12562031 >>12537128 >TA >>>/x/

Anonymous Sat Jan 9 16:12:05 2021 No.12562784

>>12561707
quantum computer can break ecdsa used by bitcoin
quantum computer with only 1000 qubits can run schnors algorithm and recover any private key from seeing a public key

it takes on average 10 minutes from you sending a transaction to the bitcoin network, for that transcation to be included in a block
in that time a quantum computer can run the schnors algorithm, recover the private key and make a different transaction paying higher fee and now that one is included in the next block
your coins are now mine

bitcoin ded.
anyone who tries to fix bitcoin ala lets hard fork and use a solution is the king the central bank and the emperor of the bitcoin
which also makes it no different than fiat usd, aside that bitcoin is wasting 1000000x more energy in the process of being fiat.

Anonymous Sat Jan 9 16:48:01 2021 No.12562901

bitcoin is speculation on USD collapse (ie. USA collapse). all other cryptos are centered around bitcoin and probably always will be. they will probably never actually be used as currency, even if the USD/USA did completely collapse. they exist purely to be speculated upon.

all currency speculation is harmful, 'mined' cryptocurrencies are truly heinous. 'mining crypto' is the act of material sacrifice to the god of 'WEALTH=POWER=SECURITY'.

>>	Anonymous Sat Jan 9 17:33:47 2021 No.12563041 >>12562784 Convex thinker detected.

>>	Anonymous Sat Jan 9 17:42:31 2021 No.12563064 >>12543662 >https://www.pornhubpremium.com/premium_signup/ my coin doesn't matter ;( Gibs Visa Mastercarb

>>	Anonymous Sat Jan 9 18:52:23 2021 No.12563220 I want to buy bitcoin but how would I cash out?

>>	Anonymous Sat Jan 9 19:26:05 2021 No.12563300 >>12550871 Institutional investors have caused the recent pump aye

>>	Anonymous Sat Jan 9 19:27:07 2021 No.12563302 >>12550871 It's quite genius if they are Suck up the suckers piling in. Deposit gains from the pump into offshore comfy accounts Job done

>>	Anonymous Sat Jan 9 19:28:13 2021 No.12563305 >>12563220 Presumably with the same platform you buy in. E.g. Coinbase in the US or Kraken in Europe.

>>	Anonymous Sat Jan 9 19:28:19 2021 No.12563306 >>12562901 I will never forgive the miners fro ruining PC component prices and stock levels I can't find comfy priced and available CPU and GPUs because of these bell ends I hope they get bummed

>>	Anonymous Sat Jan 9 19:29:23 2021 No.12563308 >>12562784 >bitcoin is wasting 1000000x more energy in the process of being fiat. All that computing power to discover proteins? Nope. Idiots say no

>>	Anonymous Sat Jan 9 19:32:27 2021 No.12563314 >>12537128 apparently there were/are a bunch of bitcoin addresses sending bitcoin between themselves to inflate the price

>>	Anonymous Sat Jan 9 19:37:43 2021 No.12563325 >>12563300 yeah because they detected how fucking retarded the 'retail investors' are and how successful a bunch of nobodies were in fleecing them, so they decided to get in on it

>>	Anonymous Sat Jan 9 19:48:35 2021 No.12563360 >>12559497 You say cryptocurrencies have zero value because you don't understand a thing about it, educate yourself you fucking coinlet

>>	Anonymous Sat Jan 9 19:51:28 2021 No.12563365 File: 3.28 MB, 635x640, NOT_SELLING.gif [View same] [iqdb] [saucenao] [google] >>12549871 cry bitch nigger

>>	Anonymous Sat Jan 9 19:52:22 2021 No.12563368 File: 259 KB, 2048x911, 1609348480774.gif [View same] [iqdb] [saucenao] [google] >>12537128 there are index funds and other investors who invest in bitcoin now. this will be the second great depression.

Anonymous Sat Jan 9 20:03:14 2021 No.12563395

>>12563314
[Citation Needed]

That's not how orderbook inflation was taking place, and hasn't been an issue in years.

>>12563306
Not Bitcoin's fault as of today.
GPU's and CPU's are being snatched up by scalper bots and resold via eBay/Amazon at a price premium.
Crypto is hands off on this one, buddy. Bitcoin has been responsible for this situation in the past, but as of right now, Bitcoin has nothing to do with your PC hardware sales. Bitcoin has basically been ASIC only for reasonable mining returns since 2014.

>>	Anonymous Sat Jan 9 20:09:46 2021 No.12563416 >>12561522 >>https://www.pornhubpremium.com/premium_signup/ >moment vendors start accepting it That moment happened 9 years ago in 2012. Now, for some vendors, it's the only option because Mastercard and VISA think they own the planet.

>>	Anonymous Sat Jan 9 20:11:24 2021 No.12563423 >>12563395 No, in the UK it's rigs. People are calling to buy up the stock

>>	Anonymous Sat Jan 9 20:12:26 2021 No.12563426 >>12563416 >Mastercard and VISA think they own the planet. This is the only reason and credit I give the concept of bitcoin. The rest is hype and fluff

Anonymous Sat Jan 9 20:16:27 2021 No.12563435

>>12563423
Not Bitcoin's fault.

It might have given these idiots the idea, but you can't get reasonable mining returns (for Bitcoin) with NVIDIA GPU's at ALL, and the returns for mining with AMD's BEST GPU as of right now, is probably less than you could make just offering to mow people's lawns for cash.

Anonymous Sat Jan 9 20:17:25 2021 No.12563440

holy fuck i'm glad for this thread. i just want to get something off my chest noone cares about but since i'm banned on /biz/
>>>/biz/25758874
The company has previously worked with leading global companies such as Venmo, Airbnb, PayPal, Nike, and Sonos. It has also been involved in designing Discord, a major social community platform.
>Discord
failure written over your bloodshot dead eyes. but hey atleast they're doing it through representative democracy. democracy will be the failure of polkadot, it might have it's good golden decade. $30k to change the combination of letters and change its block explorer color from pink. the world of crpytocurrency opens up for you if you delete bitcoin and ethereum as two redundant and obtuse coins, seriously.

anyways op, i saved an academic thesis from some dude who worked at an investment group blackrock or ripple labs or whatever you can read about it here, much of it i don't understand but you do you

oh yea bitcoins also worthless, the halvings are just a self fulfilling prophecy. dyor is a cringe statement. but position yourself in cryptocurrencies that are better than bitcoin when the market catches up to reality it's a dead shitcoin https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

https://s3-us-west-1.amazonaws.com/fundamental-valuation-framework-for-cryptoassets/A+Fundamental+Valuation+Framework+for+Cryptoassets_June+2018.pdf

>>	Anonymous Sat Jan 9 20:17:35 2021 No.12563441 >>12563435 It is Bitcoin speculator's fault. I agree but madness of crowds and all

>>	Anonymous Sat Jan 9 20:17:46 2021 No.12563442 >>12537162 VALUE hahaha

>>	Anonymous Sat Jan 9 20:18:37 2021 No.12563445 >>12563440 Post a thread on whats going on on here, on sci and how it affects us

>>	Anonymous Sat Jan 9 20:19:31 2021 No.12563448 >>12563395 I remember reading about it a few years back on hacker news or something similar. Don't care enough to find it again. >[Citation Needed] back to rebbit friend

>>	Anonymous Sat Jan 9 20:19:49 2021 No.12563452 >>12563440 Tell us more seemingly based anon What is going on with the Bitcoin pump and what will happen? What does this tell us about economics and society?

>>	Anonymous Sat Jan 9 20:20:37 2021 No.12563454 >>12563445 what are you implying, i'm banned from posting on biz and i watch highschool dropouts get high on gambling money without being capable of telling them that

>>	Anonymous Sat Jan 9 20:22:22 2021 No.12563457 >>12540004 All pyramid schemes require new members signing up which is what is happening

>>	Anonymous Sat Jan 9 20:24:34 2021 No.12563463 >>12563454 I meant the points you raised about bitcoin. Deserves a thread. Your linked posts were interesting

>>	Anonymous Sat Jan 9 20:25:38 2021 No.12563468 >>12563457 >You now remember ACN

Anonymous Sat Jan 9 20:26:10 2021 No.12563470
File: 14 KB, 329x499, 31dAaWOs9cL._SX327_BO1,204,203,200_.jpg [View same] [iqdb] [saucenao] [google]

>>12563452
bitcoin is just trending and that trend hasn't ended yet (that's my own simplest knowledge)

it goes up because cash is trash and much like the stock market and even gold, all assets go up like that because they are quoted in usd (i learn from peter schiff along with things like that about true economics) i'm not the smartest guy in the room. but i've exposed myself to these markets for only a few years and unlike my companions on biz who can't learn anything. but yea the stock market isn't economics, again you just watch peter schiff podcasts and read this book. make sure you're in the field of austrian economics, which is predominantly logic based

Anonymous Sat Jan 9 20:32:02 2021 No.12563482

>>12563463
heres another article https://www.ingwb.com/media/2151406/why_bitcoin_to_become_niche_asset.pdf

i realized this the other day, bitcoin just drains money from projects with technological development. i used this analogy from a recent interview with peter schiff on saying how america has drained the resources from other developing countries just so they can consume instead of produce, and peter's hypothesis is that the emerging markets will boom because of the us dollars collapse. i used that analogy how bitcoin is neither intrinsically valuable nor appreciated for it's tech (other than durr its simplicity). honestly i try to stray away from speculation as much as possible and look at the facts, is bitcoin used, maybe it is, i don't use it. people speculate that bitcoin is going to be a store of value, well why would i try and predict the future if gold is a store of value right now, that is the fact

>>	Anonymous Sat Jan 9 20:33:29 2021 No.12563487 >>12563482 >>12563470 good

>>	Anonymous Sat Jan 9 20:49:02 2021 No.12563513 >>12537142 >a sample sized based on 3

Anonymous Sat Jan 9 20:53:19 2021 No.12563521

>>12563457

It doesn't matter whether it's a pyramid scheme or not, frankly if you believe it is, at this stage, that's fine and understandable, but only if you also think stocks are pyramid schemes.

I know, I know, it's not a direct comparison, but for the average laymen who doesn't own Bitcoin OR stocks, it's the fucking same.
We see the numbers, we hear people talking about them, we know if we have some, they're worth some amount of money.

Point is, Bitcoin hasn't gone away, in the more than 10 years it's been around.
It's going up, and people still believe in, talk about, use it, buy it, sell it, etc...

>>	Anonymous Sat Jan 9 20:55:44 2021 No.12563530 >>12563482 understandable, but also makes you sound like a gold bug.

Anonymous Sat Jan 9 21:00:34 2021 No.12563543

>>12563470
>>12563482
People take this Schiff guy, someone who has been saying the same (wrong) thing for 20 years, is a shovel seller, and got busted for tax fraud seriously? If he actually believed the dollar was going to collapse, he would incur as much debt as possible in USD and use that to buy actually useful assets like land, real estate, etc. Moving to gold makes little sense to combat hyperinflation.

Anonymous Sat Jan 9 21:01:05 2021 No.12563544

>>12563530
ethereum is more kin to digital gold than bitcoin because it has a market of other people need ethereum to function in their operations, like physical gold. bitcoin has no market other than transacting and agreeing on its value other than pure speculation. i'm not a gold bug i just think bitcoin is useless and ethereum exists in a competitive market and might get out competed. monero is a better bitcoin because it has a private ledger and bitcoins whitepaper says middlemen one too many times when middlemen run bitcoin operations

>>	Anonymous Sat Jan 9 21:04:05 2021 No.12563555 >>12563543 i don't know peter schiff personally and don't care about what he is like other than he is the same student of economics as that thomas sowell guy as i linked his book. they study the same things and say similar opinions

>>	Anonymous Sat Jan 9 21:06:03 2021 No.12563560 File: 449 KB, 633x950, 1593774258490.jpg [View same] [iqdb] [saucenao] [google] >>12559497 >zero REAL value. Gold also has zero real value, with some minor applications in electronics and mostly female jewelery. And yet there it is..

>>	Anonymous Sat Jan 9 21:15:32 2021 No.12563595 >>12563560 Gold has natural scarcity and it can be held in the hand. I'd rather have bullets in the safe, but Bitcoin is just going to get obsoleted by a better coin. It is something like betting Windows 3.1

Anonymous Sat Jan 9 21:16:04 2021 No.12563597

>>12538302
cryptocurrency is actually a first market in which economic students are capable of engaging in their profound theories, it's very intriguing. i mean what was here a few decades ago? E-cash? Bitgold? gold, silver, fiat... seashells? now there are thousands of economic theories competing to be the best, there is a lot of opportunity in that. switch to economics and programming and create your own cryptocurrency, what have you. it might fail there is no doubt in experimentation

Anonymous Sat Jan 9 21:34:13 2021 No.12563641
File: 209 KB, 1176x1200, 1610224756415.jpg [View same] [iqdb] [saucenao] [google]

>>12563595
>Gold has natural scarcity

Bitcoin has algorithmic scarcity and can be held in the hand, if you're dumb enough to carry around one in physical form.

>but Bitcoin is just going to get obsoleted by a better coin

Hearing this weak ass argument since 2013 by people who miss out on every major run-up.

We don't need you to make money, it matters not to me if you remain in your little corner collecting shiny gold coins.

>>	Anonymous Sat Jan 9 21:47:33 2021 No.12563676 >>12563641 As if 2013 is all that long ago. Trashcan. You are betting on the first shitcoin.

>>	Anonymous Sat Jan 9 21:52:02 2021 No.12563691 >>12537128 How is this thread still on /sci/ this is what the janitors are not being paid for.

>>	Anonymous Sat Jan 9 22:02:10 2021 No.12563733 Till now I have made money with only one thing in my mind STONKS ONLY GO UP MY FREN It's just that, if you really believe that Bitcoin is better that fiat cuckerrencies, just hodl, if you don't, Bogdanoff will teach you stautistics

Anonymous Sun Jan 10 03:46:23 2021 No.12564508

>>12562784
>quantum computer can break ecdsa
There are efficient quantum algorithms solving the discrete logarithm problem, yes, but you can use longer keys or different algorithms for mitigation.
>ecdsa used by bitcoin
Bitcoin uses SHA256
>in that time a quantum computer can run the schnors algorithm, recover the private key
Ah, that's what you mean. See above, just increase key length or use a different protocol. SHA256 is the blockchain standard, can't change that without a reset, but the transport protocol is exchangeable.

Quantum computers in general do not endanger present communication, only the past. That's why the NSA etc built gigantic data graves saving pretty much everything - to be able to decrypt it in retrospect.

>>	Anonymous Sun Jan 10 05:53:28 2021 No.12564774 >>12563454 I have 200K in crypto. I'm 18 years old. My initial is 2K. Tell me your best advice.

>>	Anonymous Sun Jan 10 06:28:49 2021 No.12564832 Hahaha oh wow this thread is filled with seething self-proclaimed geniuses and their massive COPE for missing out on yet another obvious bullrun in the most cyclical of all assets. EOY2021: BTC 250k ETH 10k LINK 300 DCA, BTFD, HODL

>>	Anonymous Sun Jan 10 06:41:08 2021 No.12564845 I'm retarded and I bought LINK at 20 cents you're good at maths and you missed out lol

>>	Anonymous Sun Jan 10 06:45:06 2021 No.12564851 We're crashing hard bois. The rollercoaster is going down

Anonymous Sun Jan 10 06:47:08 2021 No.12564852

>>12544706
Bitcoin is useless as a currency due to its "feature" of limited supply, which means permanent deflation and no spending.

Ironically the same factor that makes it so attractive as a commodity (limited supply) makes it worthless as a currency, due to Gresham's Law. (Bad money drives out good money). This means that nobody wants to spend their bitcoins to buy stuff due to the permanent BTC deflation built into the system. That Swedish guy that made the news back in 2011 for buying an apartment with BTC when a BTC was worth $1 dolar probably wants to kill himself now.

Anyway, Bitcoin has two major problems. First of all as explained above, it is worthless as a currency, there is barely any market for buying stuff with bitcoin aside from illegal shit and a few websites that try to be trendy. Pornhub may allow you to pay with bitcoin but are people actually paying them with bitcoins? I doubt it's that many people. People just hoard bitcoins as if they were gold bars due to the permanent deflation bug/feature. But unlike gold, bitcoin is not a physical good, it really has no use outside of illegal transactions.

The second problem is that Tether is a scam which has been used to pump up BTC. Tether hasn't been properly audited since 2016.

My prediction is that once the Tether scam is discovered, the whole house of cards will come crashing down.

>>	Anonymous Sun Jan 10 09:52:43 2021 No.12565198 >>12563555 read keen and wolf

>>	Anonymous Sun Jan 10 09:54:27 2021 No.12565200 >>12564852 please tell us of this tether thing ?

>>	Anonymous Sun Jan 10 09:57:10 2021 No.12565208 >>12563676 >As if 2013 is all that long ago. Trashcan. You are betting on the first shitcoin. My bet has been extremely lucrative.

Anonymous Sun Jan 10 10:34:05 2021 No.12565275

Ok, what we're experiencing right now, is the weekend slump.

It's quite a common phenomenon with Bitcoin, that it has a decrease/drop on weekends.

What will be interesting to see here, is if the weekend slump triggers a larger sell off.

If that happens, we might see a tumble next week.

If that doesn't happen, we'll continue seeing a bullrun that will peak around Wednesday-Thursday of this upcoming week, possibly even going into Friday.

If the large sell off is triggered, we'll see the results of that within a few hours, not sure how low it will drop if the large sell is triggered.
Could dip below 20k, but given the length of typical Bitcoin bull runs and current timings/ATH, I would bet more that we'll continue rising this week.

PS I was the anon with the previous correct predictions in this thread.

>>	Anonymous Sun Jan 10 10:37:14 2021 No.12565282 >>12564851 see >>12565275 I've been in Bitcoin for about a decade now. Weekend drops are normal. They CAN trigger larger sell-offs, but usually not in a prolonged bull-run, without some other bad news occurring.

Anonymous Sun Jan 10 11:13:20 2021 No.12565365

>>12563521
that's cause of media hype the adverts are everywhere here now like on buses and shit where you never saw them before. big money attracting bigger money (the sum of the masses). currency is not meant to be traded like stocks and that's pretty much all it is being used for right now in its current form.

>>	Anonymous Sun Jan 10 11:28:31 2021 No.12565385 >>12564508 > Bitcoin uses SHA256 Oh fucking IQ 85 brainlet get out here bitcoin uses the secp256k1 curve > just increase key length or use a different protocol absolute retard detected I cant even just go and buy more coins and HODL go buy

Anonymous Sun Jan 10 11:33:53 2021 No.12565397

>>12565200
Tether FUD is what the buttcoiners reuse now since they havent invented anything new since 2017

Im the quantum computers will totally fuck bitcoin in the ass guy
these are the buttcoiners FUDs they used since 2009

> 2009 magic internet money
> 2010, cant even scale block size spammed to unusable
> 2011, buttcoin since it crashed from 30 to 2 dollars
> 2012, buttcoin buttcorn
> 2013, overflow bug bitcoin is broken deal with it 219 gazillion bitcoins created
> 2014, it crashed we told you so, mt gox hacked
> 2015, magic mt gox money, roger stole your money
> 2016, too late for you now, 1 coin is above 100 dollars anyway
> 2017 bitcoin isnt real Tether is price manipulating
> 2018, see we told you so, it crashed
> 2019, cant even scale
> 2020, its tied to the market and crashes like every stock
> 2021, tether bitfinex cryptocapital colombian drug lords are pumping up the price with fake money its not real
...

Anonymous Sun Jan 10 15:14:15 2021 No.12565951

>>12565397
>2016
>100 dollars
Bruh it broke 1000 in 2016
>2018 crash
Crash? Son it never dipped below 3000 in 2018
>2019 scale?
Sure thing broham, Peer to Peer will never scale. Never has. Nope. Never threatened any other industries with P2P anything. Nope. Never.
>2020 tied to the market
So... Like everything else in our modern economy?
>2021 You tried to make a point
You didn't.

>>	Anonymous Sun Jan 10 15:16:12 2021 No.12565957 >>12565951 >>12565397 I'm not trying to shut you down btw, please continue, this is entertaining. I've done everything I'm required to do today, watching you grasp at straws will fill the gaps where I used to go to bars and such.

Anonymous Sun Jan 10 15:24:48 2021 No.12565978

the arguments for bitcoin havent grown stronger for bitcoin, they do grow weaker as new tech makes the stark contrasts. the argument then has changed from peer-to-peer free of middlemen to just a store of value. if whales started transacting in another coin that was not bitcoin, bitcoin loses it's last use case, then becomes a zombie chain, that is the vernacular.

>>	Anonymous Sun Jan 10 15:29:23 2021 No.12565990 >>12537142 >my analysis >excel spreadsheet lol no one has ever been able to successfully explain to me how crypto works. it's all a ponzi scheme

>>	Anonymous Sun Jan 10 17:00:30 2021 No.12566257 >>12565385 Fucking idiot I was talking about mining. Can you read? >absolute retard detected I cant even Hurr durr so you have no clue about cryptography. Understood. Dunning-Kruger victims in here I swear.

Anonymous Sun Jan 10 17:48:37 2021 No.12566376

>>12565990
Sorry bro, Bitcoin enthusiasts spent the last 10 years trying to explain it to people. (I'm one, I don't type it up anymore, so you can just continue to call it a ponzi scheme if you're waiting on my personal explanation.)

If you want to figure it out, I encourage you to go read one of the ten bazillion articles that explain it, watch one of the thousands of videos that explain it, or go play with dogecoin until you understand it.

https://www.dogecoinfah.com/

You can actually contribute to Folding@Home and earn dogecoin simultaneously.

Make a wallet, send some around, see what you can do with it.

Realize that Bitcoin is the same, but with a much more vast amount of vendors that accept it, and a more fleshed out ecosystem for secondary tools that assist with owning, trading, and using it.

Anonymous Sun Jan 10 17:55:19 2021 No.12566396

>>12565990
Here's a simple use case and example, that might show you just the slightest hint of utility, if for nothing more than archiving and historical record purposes. Imagine if Rome had been using Bitcoin.

You ever hear the story, of the guy that spent 10,000 Bitcoin on a couple of pizzas to eat for dinner?

It happened May 22nd, 2010.

I didn't look up a news article. It's not marked on my calendar.

https://www.blockchain.com/btc/address/17SkEw2md5avVNyYgj6RiXuQKNwkXaxFyQ

That's the transaction.

You can go view it, right now. There's been a few transactions sent to/from that address, but there it is.

Can you show me all of the cash transactions that some random guy on the internet had, for any date in 2010?

You can't.

Bitcoin can.

ponzi or not, that's a utilitarian use case, that the very thing ALL OTHER ponzi schemes could never do, since they didn't rely on a transactional system, with an open public ledger. (Sure you can argue that you can pull a Mastercard or VISA report on some other ponzi schemes that existed pre-Bitcoin, but I would be willing to bet you real hard cash, that VISA/Mastercard, don't just hand their ledgers out like that, for any individuals' card usage.)

Anonymous Sun Jan 10 18:04:25 2021 No.12566433

>>12566396
>I didn't look up a news article. It's not marked on my calendar.
>
>https://www.blockchain.com/btc/address/17SkEw2md5avVNyYgj6RiXuQKNwkXaxFyQ
>
>That's the transaction.
>
>You can go view it, right now. There's been a few transactions sent to/from that address, but there it is.

so what
it's good for book keeping?

>>	Anonymous Mon Jan 11 04:45:50 2021 No.12567892 Thanks a lot. I just lost 6 years worth of savings

>>	Anonymous Mon Jan 11 05:17:35 2021 No.12568009 >>12537142 >>12537128 I honestly can't tell is this is parody or sincere.

Anonymous Mon Jan 11 09:05:38 2021 No.12568533

>>12566257
> I was talking about mining.
mining is irrelevant and adds no security to your coins

your coins are only secured by ecdsa, nothing else
break ecdsa, your coins are my coins

get that thru your thick skull
mining, hashpower does not keep your coins secure.

>>	Anonymous Mon Jan 11 10:53:10 2021 No.12568826 >>12539005 I got in at about 40 Cent. I've taken back profit several times my initial investment. Not selling the rest for 5 years or a price of over $100 a token, whichever comes first.

>>	Anonymous Mon Jan 11 11:40:42 2021 No.12568996 This thread aged like milk lmao

>>	Anonymous Mon Jan 11 11:45:44 2021 No.12569014 >>12568996 We're going back to 20k

>>	Anonymous Mon Jan 11 11:51:39 2021 No.12569035 >>12537128 Isn't the typical reaction for whatever reason to lose 38% of the tippity top? Say 41K? Lets say 41-15 = 26K. Then 52K so you can make double from there. We are almost there already.

>>	Anonymous Mon Jan 11 12:08:46 2021 No.12569088 I got in at 39K thinking I could still double my money thanks to OPs excellent analysis. I'm shitting my pants right now down 20%. I need to pay off my car

Anonymous Mon Jan 11 12:24:38 2021 No.12569136

>>12569088
recover your losses, minimize your loss.
google already has quantum computers

soon quantum computers will available for hobbyists like PCs where in 80s

bitcoin has 2 years more to live, tops.
its cryptography is from 2008, just not designed to be quantum safe.

as Ive explained, schnors algorithm can calculate the private key upon seeing any public key, which you have to reveal in order to send coins.
blocks are produced on 10min average
a quantum computer has entire 10 minutes to steal your coins and send them to the owner of the quantum computer.

anybody claiming bitcoin can just fork to solve it, means complete redesign of its basic principles, if anybody has the power to orchestrate such a change - bitcoin is then not needed as that person obviously has the power to also change the inflation schedule another fundamental of bitcoin.
bitcoin is in that case no different than a central fiat issued papier money.

>>	Anonymous Mon Jan 11 12:29:51 2021 No.12569149 File: 176 KB, 686x378, bobo-crash-market-cursor-blinking.gif [View same] [iqdb] [saucenao] [google] This didn't age well. My bag will be huge in a couple months.

>>	Anonymous Mon Jan 11 12:35:44 2021 No.12569160 >>12569088 Dude there are literal ads on this board with Pepe telling you to buy BTC. How did you buy into this being the time to make money >>12569136 Quantum computers are a meme weirdo

Anonymous Mon Jan 11 12:50:06 2021 No.12569187

>>12568533
>get that thru your thick skull
I'm not the one with zero reading comprehension here, pal.
t. cybersec major

>mining is irrelevant and adds no security to your coins
But to transactions, that's the whole point of blockchain.

You're still completely wrong in assuming quantum computers will just "break" discrete logarithm-based algos. You sound like you read an article 10 years ago and never cared to check if it was true.

>>	Anonymous Mon Jan 11 12:52:36 2021 No.12569193 File: 4 KB, 178x180, 1605939223736s.jpg [View same] [iqdb] [saucenao] [google] >>12537128 can i buy bitcoin with 10 bucks

Anonymous Mon Jan 11 13:10:18 2021 No.12569241

>>12569136
>schnors algorithm can calculate the private key upon seeing any public key
Here, read this:
>The latest quantum resource estimates for breaking a curve with a 256-bit modulus (128-bit security level) are 2330 qubits and 126 billion Toffoli gates.[43]
How do you think these resources scale with increasing key length? What happens when you square it?
And then also read
>Supersingular Isogeny Diffie–Hellman Key Exchange provides a post-quantum secure form of elliptic curve cryptography by using isogenies to implement Diffie–Hellman key exchanges
And finally understand that only past communication is affected, which is why so many data centers are built right now.
Do you really think it's that difficult to create a new bitcoin adress/private key?

>>	Anonymous Mon Jan 11 15:37:21 2021 No.12569772 >>12569193 You're in dreamland, sorry kirby anon

Anonymous Mon Jan 11 16:56:15 2021 No.12570208
File: 269 KB, 1620x1215, emlol.jpg [View same] [iqdb] [saucenao] [google]

>>12569187
omfg cybersec major
> mining is relevant to secure transactions, thats the whole point of blockchain
he says

as if the security of anything depended on mining.
absolute facepalm

Anonymous Mon Jan 11 17:01:53 2021 No.12570230

>>12569241
> these resources scale with increasing key length
1 000 qubit already exists
increasing key length wont solve the problem, its not a classic computer attack where increasing muh key length adds orders of magnitude more brute force required to break it
double the key length, ok, just add 2 more qubits

> understand that only past communication is affected
lol, u w0t m8?
bitcoin doesnt use DH key exchange retard.

y u in here spreading cheap misunderstandings to protect the renome of a shitcoin such as bitcoin?

>>	Anonymous Mon Jan 11 17:31:25 2021 No.12570318 >>12570208 Not that guy, but it partially does

Correct Predictions Anon Mon Jan 11 17:41:53 2021 No.12570351

>>12569014
I don't actually think the dip is that low.

Price floor appears above 32,000.

This is more likely a bear trap than a bull trap.

The rise was too low to be a bull trap, homie.

If Bitcoin isn't below $30,000 tomorrow afternoon, this is still a bull run.

>>	Anonymous Mon Jan 11 17:50:09 2021 No.12570376 >>12570208 Hurr durr then riddle me this, newfag. What is the idea of _validating_ a block before sending it to the chain? Fucking pathetic.

Anonymous Mon Jan 11 18:00:09 2021 No.12570400

>>12570230
>1 000 qubit already exists
Not error-corrected, and that's a major prerequisite for Shor's.

https://www.technologyreview.com/2019/05/30/65724/how-a-quantum-computer-could-break-2048-bit-rsa-encryption-in-8-hours/
>In 2015, researchers estimated that a quantum computer would need a billion qubits to do the job reliably.
>Now Gidney and Ekerå have shown how a quantum computer could do the calculation with just 20 million qubits.
>just 20 million qubits

>double the key length, ok, just add 2 more qubits
Another one who doesn't understand complexity theory. Tell me, how does Shor's algorithm scale with key length?

>bitcoin doesnt use DH key exchange
I know, it uses ecdsa as mentioned several times in here. The point is that it can easily be modified to account for the advent of quantum computers capable of "breaking" it.
>y u in here spreading cheap misunderstandings to protect the renome of a shitcoin such as bitcoin?
I'm not, I'm the one who called it a scam before. I'm fighting misinformation about quantum computing.

>retard
no u

Anonymous Mon Jan 11 18:15:16 2021 No.12570457

>>12570400

Ok, let's say a group does develop a quantum computer and algorithm that would readily break the current ECDSA implementation.

How could/would Bitcoin respond?

Would they be able to freely move/transfer around all the wallet inputs and outputs on the ledger, until a hard fork occurred?

Will Bitcoin somehow KNOW when a quantum computer developer is nearing the milestones necessary to dismantle ECDSA and the way it's currently being implemented?

Or could this situation occur without warning, forcing panic AND a required hard fork?

>>	Anonymous Mon Jan 11 18:33:01 2021 No.12570511 https://www.truthcoin.info/blog/pow-cheapest/

>>	Anonymous Mon Jan 11 19:09:02 2021 No.12570667 File: 106 KB, 305x229, hi.gif [View same] [iqdb] [saucenao] [google] >>12569187 https://keys.lol

>>	Anonymous Mon Jan 11 19:11:16 2021 No.12570676 >>12570351 Yeah it's hovering. Maybe it's just taking a break for the next push?

>>	Anonymous Mon Jan 11 19:12:09 2021 No.12570678 File: 101 KB, 785x731, soyjak breaking down in tears.jpg [View same] [iqdb] [saucenao] [google] >>12559497 >i-i-it's not REAL value!

>>	Anonymous Mon Jan 11 19:20:15 2021 No.12570703 >>12559497 it will when you can legally pin it to assets and shares such as shared land, as it is meant to be a token. but btc is still trash design. and you can own assets and shares with existing contracts anyways.

Anonymous Mon Jan 11 19:27:41 2021 No.12570720

>>12570457
>How could/would Bitcoin respond?
It responded by introducing pay to public key hash, which keeps it secret until a transaction is performed. After using the key pair for a transaction once, it's discarded and a new one generated. Most wallets implement this anyway.

>>	Anonymous Mon Jan 11 21:21:55 2021 No.12571036 >>12570720 Yeah, but there would still be a hard fork, yeah?

Anonymous Mon Jan 11 21:24:32 2021 No.12571041

>>12570676
It's called a bear trap homie.

Some sell-offs occur for previous high peak buyers to recoup losses or cut profit.

That triggers panic sellers.

Bitcoin is starting to get some rubber banding from tech stock behaviors, so since some tech stocks took some hits, so did BTC.

Combining the stock dips, and the bear trap sellers, the dip looks significant, but in actuality, this is a speedbump.

It would have to floor out at sub 20k to undo the bull run that is occurring.

I pushed my earlier prediction back by a few days at most.

I'm still seeing an overall rise between now and 01/20/21

I'm looking forward to seeing what the inauguration does to the price.

>>	Anonymous Mon Jan 11 23:04:39 2021 No.12571291 >>12563470 >make sure you're in the field of Austrian economics, which is predominantly logic based >t. retard

>>	Correct Predictions Anon Tue Jan 12 00:54:30 2021 No.12571488 >>12571041 And as of right now, there's a little cushion above the price floor. If there is not a drop of more than 5% tomorrow, the recent hiccup was assuredly a bear trap. In which case, expect it to break 40-45k by 01/19/2021

>>	Anonymous Tue Jan 12 01:28:59 2021 No.12571548 >>12561514 >Fuck, it's all fiat now? yes and it has been for ages, that's why the US can print a shit tone of money. Also Gold is a speculative asset as much as Bitcoin is as gold does not get it's value from its utility (although it exists).

>>	Anonymous Tue Jan 12 02:50:15 2021 No.12571714 Buy Chainlink

Anonymous Tue Jan 12 02:59:54 2021 No.12571730

>>12570376
"validating" does not provide security for YOUR COINS
only to not double spend, "hurr durr batt wat is the difference" lil cybersec major asked. go on.

Ill reiterate this again since the class is slow today

hashrate does not add any security to your coins
mining power does not secure your coins

your coins are only secured by the discrete logarithm problem, as any other PKI using ecdsa.

> citing quantum computer paper from 2015
again facepalm

>>12570400
> it can easily be modified to account for the advent of quantum computers
sure, really sure, now bitcoin cant be easily modified to even increase blocksize to 2 or 8mb,
but now you God Emperor of Bitcoin will just decide and bitcoin will change its signing algorithm to a quantum safe one. right.

hilarious, if anyone has that power to change bitcoin, then go and use fiat currency where humans are already in command.

anyone who can change bitcoin ecdsa to another one, also has the power to change the inflation schedule or to censor and again steal your coins. "hey this new version of bitcoin provides quantum safe signing its entirely optional ;) and btw also all chink addresses are burned and inflation adjusted for miners with verified KYC and location in US."

>>12570318
wrong. see above.

Anonymous Tue Jan 12 03:09:56 2021 No.12571753

>>12537128
It has to crash for a very simple reason. It's a currency, and people are buying it so they can hold it. If you're buying a currency that people aren't using, there's no inherent value.
By all means make money off it while it lasts, and you might make a lot, but for practical reasons this is clearly speculating on a bubble.

>>	Correct Predictions Anon Tue Jan 12 03:20:23 2021 No.12571780 >>12571753 https://icoholder.com/blog/places-accept-bitcoin/ https://www.statista.com/statistics/730806/daily-number-of-bitcoin-transactions/ https://www.blockchain.com/charts

Anonymous Tue Jan 12 03:27:28 2021 No.12571801

>>12571730
>"validating" does not provide security for YOUR COINS
>only to not double spend,
Congratulations, you're not 100% retarded.
>hashrate does not add any security to your coins
>mining power does not secure your coins
Nobody said it does.
>your coins are only secured by the discrete logarithm problem, as any other PKI using ecdsa.
Nobody said anything else.
>> citing quantum computer paper from 2015
>again facepalm
No, only the first part is from 2015.

I'd give you a 90% retarded rating. You seriously need to learn to read. Or are you attacking strawmen on purpose?

>>	Anonymous Tue Jan 12 03:28:56 2021 No.12571805 >>12571780 This doesn't contradict what I said in any way.

Anonymous Tue Jan 12 03:29:46 2021 No.12571809

>>12571730
>now bitcoin cant be easily modified to even increase blocksize to 2 or 8mb,
Completely unrelated.
>but now you God Emperor of Bitcoin will just decide and bitcoin will change its signing algorithm to a quantum safe one. right.
It's already quantum-safe, see >>12570720

Life must be great without any knowledge and Dunning-Kruger levels of confidence. I envy you.

Anonymous Tue Jan 12 03:29:48 2021 No.12571810

>>12570457
"They" cant move UTXOs around freely.

My understanding is that this last years movement of 100 000s of btc, and we have seen people moving their coins which have never been moved even from 2009 is done to move them to a new never-before seen address.

If you use an address once only, attacks against it cant be done, protected by sha256 which quantum computarz cant break.

Only once a transaction is made, or for other reasons the public key is revealed of the address, such as singing anything with that address not just a btc transaction, then its up for grabs.

This situation will be done by those who are already bitcoin whales and miners and developers, the same gang of scammers.
They will first use quantum computers to steal more btc then claim uh we need to hard fork to protect our coins, and also take this other changes to the network which benefits us and our friends adjusting inflation schedule to never end.
They already did it once, with segwit, they'll do it again.

Bitcoin isnt decentralized, it isnt different from any other fiat currency when it comes to governance.

>>	Anonymous Tue Jan 12 03:30:44 2021 No.12571812 >>12571780 It's a bubble as an investment. If people are buying a currency with the intention of not actually using it, and there is nothing propping up the value, it is by definition speculation on a bubble.

>>	Anonymous Tue Jan 12 03:31:38 2021 No.12571815 >>12571730 >"validating" does not provide security for YOUR COINS lmao you don't know shit you retard. Keep falling for shitcoin, I'll laugh.

Anonymous Tue Jan 12 03:36:53 2021 No.12571825

>>12539336
I remember when bitcoin was almost totally worthless, I bought a game on steam for thousands of btc just for the novelty of it and threw the rest of my btc at LSD on Silk Road (worth it at the time) and this was way back when bitcoin wasn't even worth 10 cents.
Shame I never held on to any, but it's just more funny than anything to me.

>>	Correct Predictions Anon Tue Jan 12 03:50:16 2021 No.12571852 >>12571805 >that people aren't using

>>	Anonymous Tue Jan 12 04:02:05 2021 No.12571884 >>12563560 >gold has no natural value >proceeds to explain gold’s natural value

>>	Anonymous Tue Jan 12 04:02:06 2021 No.12571885 >>12571825 I mined a block in the very early days, then trashed the pc later.

>>	Anonymous Tue Jan 12 04:03:28 2021 No.12571889 >>12571852 Right, and many people are buying a currency with no intention of using it for a transaction. This inflates the value and creates a bubble.

>>	Anonymous Tue Jan 12 04:05:14 2021 No.12571893 >>12564774 Sell after the next rounds of profits and invest in something less volatile

>>	Anonymous Tue Jan 12 04:13:38 2021 No.12571907 >>12564774 Diversify your investments. You'll be guaranteed significant profit if you use that as down payment for a house or apartment, then rent it out to cover the mortgage.

Correct Predictions Anon Tue Jan 12 04:25:08 2021 No.12571927
File: 109 KB, 700x394, whydoesthisshillmonglecocks.jpg [View same] [iqdb] [saucenao] [google]

>>12571889
>This doesn't contradict what I said in any way. Because otherwise you'd have to apply this logic to everything else, ala gold/cash/etc...

Now... If you're still preaching anyway, that it's an inflated bubble, because some people don't spend it...

Then I wonder why you're not shit talking those other commodities as well, unless you honestly believe that EVERYONE who buys gold or holds cash could/would never sell or use it in any way.

Anonymous Tue Jan 12 04:30:04 2021 No.12571937

>>12571809
> It's already quantum-safe
hurr durr

Ive already explained several times in this thread, a big enough quantum computer with many qubits in the 8 000 range
is enough to steal any coin within 10 minutes it takes from sending a transaction to it being included in a block

When you send a transaction, any transaction in bitcoin, you must reveal the public key.
There is on average 10 minutes before the transaction is included in a block.
10 minutes a quantum comptuer attack has to calculate the private key, make a different transaction paying higher fee but this one sending your coins to ME.

Bitcoin is quantum broken and always has been

The "muh just use one address ever, dont reuse addresses" is only meant to ease up the victims up before scamming them of their only currency which matters the PETRODOLLAR
This "muh address reuse" is only valid for a very slow quantum computer about 2 000 qubits in size.

also that guy said
"it responded by"
no it didnt respond, Satoshi had this address-hash in the first version.
bitcoin didnt respond to quantum anything its not designed to withstand quantum computer attacks.
no cryptography from 2008 was.
there was no quantum comptuer even with 2 qubits in 2008
in 2021 we have 1 000 qubits.

Anonymous Tue Jan 12 04:31:17 2021 No.12571940

>>12571801
> Nobody said it does.
Wrong. A lot of people believe the hashrate is securing their coins even in this thread.
> Nobody said anything else
Even in this thread people claimed the security of their coins rests on mining. LOL.

Ill give you a 100% scammer rating, IQ 105.

>>	Anonymous Tue Jan 12 04:32:48 2021 No.12571944 >btc is a peer-to-peer currency >btc is digital gold you are here >bitcoin is an immutable audit trail (just proof of data happened at some point)

Anonymous Tue Jan 12 04:55:01 2021 No.12571991

>>12571944
the digital gold step will be wrecked by quantum computers
bitcoin will then be revealed to have a ruling elite class who can "upgrade it" and change it anyway they see fit, just like any other shit currency can be changed by few humans.

bitcoins value depends on the whims of the miners developers and exchanges
2027,
"oh noo noo that format of the address, thats legacy and already vulnerable you see, yes you see you have to now move your store of value coins to our safe quantum deposit box, mmmkay"
"oh nooo your coins have been tainted by a crime network of the other party the fascists, we cant accept your coins here to safe moving to quantum safe address"
"oh noo your coins are following that quantum safe algorithm here we only accept our way gtfo"

> bitcoin is an immutable audit trail
a very inefficient one at that, this is when people move to an immutable audit trail without wasting energy and just use either PoS or Byzantine consensus databases.

2031
> oh bitcoin yeah the napster of crypotcurrencies

Anonymous Tue Jan 12 05:04:13 2021 No.12572006

>>12571937
>Ive already explained several times in this thread
Completely irrelevant. What's so difficult to understand for you about "pay to public key HASH"? You can't use quantum computers to break asymmetric cryptography without having the public key.
>When you send a transaction, any transaction in bitcoin, you must reveal the public key.
Wrong.
>10 minutes a quantum comptuer attack has to calculate the private key
Wrong.
>Bitcoin is quantum broken
Wrong.
>This "muh address reuse" is only valid for a very slow quantum computer about 2 000 qubits in size.
Wrong.
>bitcoin didnt respond to quantum anything its not designed to withstand quantum computer attacks.
Wrong.
>no cryptography from 2008 was.
lol, wrong. McElice is old af.
>there was no quantum comptuer even with 2 qubits in 2008
Completely wrong. You really don't know anything. I literally saw one in 2008 with 5 qubits. It's completely irrelevant anyway, so ce you need extremely well error-corrected qubits for Shor's algorithm.
>in 2021 we have 1 000 qubits.
Wrong again. We have >5000 qubits in quantum annealers from D-Wave and ~74 qubits in transmon qubits. None of which are universally coupled. Phitobic devices offer more, but there aren't any open ones.

You're fucking retarded dude.

Anonymous Tue Jan 12 05:06:47 2021 No.12572007

>>12571940
>A lot of people believe the hashrate is securing their coins even in this thread.
Who the fuck cares? Also, you're wrong. Nobody did.
>Even in this thread people claimed the security of their coins rests on mining
Completely wrong you illiterate retard. Mining secures TRANSACTIONS. Nobody said anything else. And what do you think happens when transactions aren't safe anymore?

Seriously, your reading comprehension is abysmally low.

>>	Anonymous Tue Jan 12 05:08:43 2021 No.12572011 >>12572006 >>When you send a transaction, any transaction in bitcoin, you must reveal the public key. >Wrong. I misread here, for initiating a transaction the public key has to be published, but that's what adress cycling is for.

>>	Correct Predictions Anon Tue Jan 12 05:21:18 2021 No.12572030 >>12572006 >>no cryptography from 2008 was. >>lol, wrong. McEliece is old af. >>the McEliece cryptosystem is an asymmetric encryption algorithm developed in 1978 >from 2008 >in 1978

Anonymous Tue Jan 12 05:50:00 2021 No.12572088
File: 1.36 MB, 800x800, 1517264316284.png [View same] [iqdb] [saucenao] [google]

>>12572006
> What's so difficult to understand for you about "pay to public key HASH"?

Fucking absolute retard.
"pay to public key HASH", reveals the public key of the sender, while the receivers key is HASH.

you cant sign any bitcoin transaction without revealing the public key of the signer for fucks sake.
this is the reason "use an address only once", once you send from that address, rekt.

the whole point of revealing the public key of the sender is to be able to verify that the coins are there to begin with.
simple concept wtf.
"muh cybersec major" LMAO ROFLMAO

now tell me, in your scenario where you said 5 times I was "wrong",
how would you or anyone verify that the sender actually ever had any coins huh? when you only have the hash and no public key, huh punk?

I hope you buy more shitcoins and become homeless

Anonymous Tue Jan 12 05:52:50 2021 No.12572092

>>12572007
> Mining secures TRANSACTIONS.
here it is again,
Absolute IQ 60 tier

transactions are secured by the signature algorithm, by the PKI, by the ecdsa.
no transaction is safe, NO TRANSACTION IS SAFE once 2000 qubit quantum computer is availabile
IRREGARDLESS of hashpower going to jiggaloexahashes per second.

absolut mongs in here, go buy more coins and leave /sci/

Anonymous Tue Jan 12 06:02:25 2021 No.12572113

>>12572030
Yes. That's the point.

>>12572088
>"pay to public key HASH", reveals the public key of the sender, while the receivers key is HASH.
Yes, like I said in >>12572011
Learn to read.
>how would you or anyone verify that the sender actually ever had any coins huh?
By having two sets of keys; a master key that signs all the other ones, and one-time-use keys for transactions. One public key from the letter is used for the transaction, then trashed. Every fucking wallet implements it like that.
>I hope you buy more shitcoins and become homeless
You suck as a human being as much as a reader. Again, I'm the one who called it a scam.

>>12572092
>transactions are secured by the signature algorithm
Which is validated through? Yes? Tell me.
>IRREGARDLESS
kek, further proving your illiteracy.
>of hashpower
Who said anything about hashing power?
>absolut mongs in here
Agree, you should leave.

Anonymous Tue Jan 12 06:16:49 2021 No.12572145

>>12571991
my reply back to you isn't as relevant:
bitcoin already is known to have no value, its price largely fluctuates based off its demand and supply, even though we can expose ourself to gazillions of satoshis, people still are greedy to collect baskets of those satoshis called bitcoins. bitcoins use case relies on people using it and transacting billions of dollars to find that demand, so its price can only be determined by its use. if demand lowered, the market reflects this rather quickly in bitcoin. imagine there were 21 million baskets(bitcoin) that existed, and people dont even need to buy the baskets but what's in the basket, to get to the point if bitcoin demand lowered by a substantial amount you have a ton of supply that needs to meet that very little demand, it would be a race to the bottom.

it would be incomparable to a commodity like oil or gold, even though a barrel or an ounce is similar to a basket/bitcoin. because from their respectful baskets i can run a business operation relying on a bit of oil from that barrel, or install a bit of gold in my electronic

this is like how the futures works, people bet on the paper wealth of corn or something and how that market trades, even though they are entitled to their corn ironically through futures, they don't want it shipped to their door. likewise i think a lot of people do not want to be keeping bitcoin. in conclusion there is nothing backing bitcoin but the faith that someone holds it in their wallet will transact with it, there is no company revenue, there is no market besides the middlemen who make fees from bitcoin transactions. in a small essence of capitalism that owner of bitcoin has a demand to transact and that desire could be filled with a better cryptocurrency.

Anonymous Tue Jan 12 06:36:36 2021 No.12572176

>>12572113
> By having two sets of keys

You didnt even know a trx always reveals the public key.
How wallet implements it, doesnt fucking matter.
10 minutes.
quantum computer breaks your trx and signs over the coins to the attacker.
fuck your other set of keys.

no more replying to you, learn to think cybersec major. roflmao. you are a scam.

> Which is validated through? Yes? Tell me.
By magic rainbow unicorns present at every mining node, these magic unicorns have the ability to tell the difference between 2 trxs which are both valid, one paying a higher fee than the other, 1 made by coin-owner the other made by quantum-computer which cracked the private key and signed a new trx, with the same key. Signatures check out all ok.

Yes, these magic unicorns is what will keep your coins safe and validated post quantum computer world.

Tell me again how mining power is validating and keeping your coins and transactions safe. Go on. You read a bitcoin for dummies article they said its fool proof quantum safe crypto from aliens.

Anonymous Tue Jan 12 06:39:56 2021 No.12572181

>>12572145
I understand, the value of bitcoin aside from having value assigned to it by people who want it (for any reason), came from it being the only deflationary currency. The only asset whos supply humans could not modify at will but only by speculation or assigning-it-value, unlike gold, oil, corn or fiat currency. All of the above, the supply can be controlled by very few people.

But quantum computers will make bitcoin irrelevant even in that regard as an elite who controls it will be revealed.

>>	Anonymous Tue Jan 12 07:15:27 2021 No.12572229 >>12571927 Because gold is tied to the rarity of a tangible, physical commodity, which also has practical applications and desirability, and therefore gives it a nontrivial value.

Anonymous Tue Jan 12 08:44:59 2021 No.12572388

>>12572176
>You didnt even know a trx always reveals the public key.
I literally wrote that it does. Please learn to read.
>How wallet implements it, doesnt fucking matter
It does, because you said nobody uses throwaway keys.
>no more replying to you
Oh, good. The troll got bored.
>By magic rainbow unicorns present at every mining node, these magic unicorns have the ability to tell the difference between 2 trxs which are both valid, one paying a higher fee than the other, 1 made by coin-owner the other made by quantum-computer which cracked the private key and signed a new trx, with the same key. Signatures check out all ok.
All of that text to say you have no clue. K then. Of course you're way too illiterate to understand that my point there was regarding you're claim that mining doesn't play a security role. Two different things. You cannot seem to grasp that we're talking about two different things here - validating a transaction and validating ownership.

>Tell me again how mining power is validating and keeping your coins and transactions safe.
>again
I can't, because for the third time, I never said that.
>You read a bitcoin for dummies article
No, I read the whitepaper and followed all changes to the protocol. I'm also aware of current technologies and algorithms like quantum computers and Shor's algorithm as well as their limitations.
Most of all, I'm able to read.

You're utterly retarded. Back into the trash with you.

>>	Anonymous Tue Jan 12 09:22:54 2021 No.12572473 >>12537128 Well, OP? we're waiting for your apology. It's gonna take me years to build up my savings again

>>	Anonymous Tue Jan 12 09:33:44 2021 No.12572489 >>12572473 Hold you retard, whales are eating the scum like you

>>	Anonymous Tue Jan 12 09:35:51 2021 No.12572493 >>12569772 What's the worst thing that could happen?

>>	Anonymous Tue Jan 12 13:15:20 2021 No.12573040 >>12571730 >wrong. see above. Why are you so mad? It's no big deal being wrong. Just admit your mistake and move on.

>>	Anonymous Tue Jan 12 16:00:28 2021 No.12573659 >>12541876 If you predict the future people will flock to you so you can make money off of them. More so than if you would compete with AI that's sitting 2 feet from the trading platform.

>>	Anonymous Tue Jan 12 17:14:47 2021 No.12573928 >>12573659 I mean... What if they just used futures? No need to compete with that AI's daily grind. Blue Eisenhower November

>>	Anonymous Tue Jan 12 17:56:50 2021 No.12574092 >>12549726 how is the lawsuit progressing? last I checked in was 2018, can you give me a rundown? >tether printer go brrrrrrr

>>	Anonymous Tue Jan 12 23:35:19 2021 No.12575274 >>12571730 Hahahahaha I feel sorry for you

>>	Anonymous Tue Jan 12 23:36:42 2021 No.12575280 >>12537128 >market analysis lol enjoy killing yourself after losing all your money

>>	Anonymous Wed Jan 13 02:58:20 2021 No.12575728 >>12571730 >> citing quantum computer paper from 2015 >again facepalm What's wrong with the paper?

>>	Anonymous Wed Jan 13 03:01:57 2021 No.12575733 Q. Oranges need to be peaches. Make it so

Anonymous Wed Jan 13 07:16:58 2021 No.12576264

just get hathor and 100x your pajeet cash, why would you buy something that will 2-5x at max in near future wtf? you see that market capital? thats fkin YUGE wtf. Hathor does fkin more and is at 50million, you know whats that? pocket money

why are you so tard

>>	Anonymous Wed Jan 13 10:23:44 2021 No.12576680 >>12538092 they don't need to know wtf halvening is. it simply reduces supply via miners dumping. market forces do the rest

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/sci/ - Science & Math