Bitcoin

nextgenathletics said:
All your points are valid, but on a purely logistical level, attempting to "crack code" as you put it, on that scale for duplication is sufficiently more vigorous than doing so with the U.S Dollar for example, which currently justifies bitcoin as a hedge against inflation. The sheer amount of technological prowess, resources and skill needed for doing so is simply a barrier that the dollar doesn't have. That being said, theoretically there is no such thing as a perfectly invulnerable form of currency.
Click to expand...
But it is just code at the end of the day. All code has flaws. This one demonstrates the whole 21M limit, which is the most fundamental piece that I can see, i.e. if no scarcity then what's the point, may not be what its made out to be.

Someone didn't just happen upon this, they were looking. Fortunately a "good actor" found it.

In September 2018, an anonymous party discovered and reported an invalid-block denial-of-server vulnerability to developers of Bitcoin Core, Bitcoin ABC and Bitcoin Unlimited. Further analysis by bitcoin developers showed the issue could also allow the creation of blocks violating the 21 million coin limit and CVE-2018-17144 was assigned and the issue resolved.
 
notintheface said:
I'm still not seeing any reasonable explanation, I'm sorry. There's a whole lot of hand waving but honestly no good reason that a piece of data that's 4MB -- a smaller size than a photo that you take with your phone -- should magically be worth almost $2M. When I go to a mortgage broker and ask them "will you take 25 bitcoin for this house" and I don't get laughed out of the room, maybe you will have a point but I would have thought that after 12 years that would have happened by now.
Click to expand...
Lol! Your Mortgage broker doesn't typically laugh at you when you're in the room. He waits until you leave. You think you're paying 2.25% interest when your amortization schedule says you're paying 49%. Kinda the same way you think of bitcoin.
 
I have chosen to invest in Bitcoin via GBTC because it acts more like a stock which I am more comfortable with. I can look at it in a similar way including relative strength, moving averages, volume, and institutional support.
 
PossessionSoccer said:
I have chosen to invest in Bitcoin via GBTC because it acts more like a stock which I am more comfortable with. I can look at it in a similar way including relative strength, moving averages, volume, and institutional support.
Click to expand...
Intercontinental Exchange--owned Bakkt said on Monday it has agreed to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, giving the cryptocurrency platform an enterprise value of $2.1 billion.

The deal is expected to provide Bakkt, founded by outgoing Georgia Senator Kelly Loeffler and backed by Microsoft and Boston Consulting Group, with $207 million in cash and $325 million from other investors, including $50 million from ICE.

A few questions:

1. Why the rush to go public?
2.Are investors looking for quick gains?
 
Maybe they're hoping to get some quick gains from relief checks created out of thin air. Kinda like bitcoin except bitcoin doesn't create more bitcoins. Hence the ru$h.
 
“The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be,” Dorsey continued. “We are trying to do our part by funding an initiative around an open decentralized standard for social media. Our goal is to be a client of that standard for the public conversation layer of the internet.” --Jack Dorsey

https://www.dailywire.com/news/twit..._vFIj25EJo2kx5oo6BNMBYdOQfPy8uw5csKTSskgtH1o0
 
Bruddah IZ said:
Lol! Your Mortgage broker doesn't typically laugh at you when you're in the room. He waits until you leave. You think you're paying 2.25% interest when your amortization schedule says you're paying 49%. Kinda the same way you think of bitcoin.
Click to expand...
They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.
nextgenathletics said:
Bitcoin and crypto in general relies on America faltering and that's not my game.

Sure, those that invested in bitcoin way back and held are dancing right now, but I'll stick to stocks.
Plenty of juicy companies to trade right now.

Never bet against America long term.
Click to expand...
They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.
 
WestOfFive said:
They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.

They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.
Click to expand...
Why would money launderers want to wash all the value out of their dollars in a day due to volatility.
 
WestOfFive said:
They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.

They largely fall outside financial regulation. If things go wrong, you may not be able to claim against the Financial Services Compensation Scheme.

Prices are volatile — prone to extreme swings in price.

Those creating and selling cryptocurrencies do not have to disclose information that might help understand what is driving the changes. Some cryptoasset firms may also be associated with financial crime or money laundering.
Click to expand...
Bitcoin is way more regulated than the USD$. The code prevents an increase in bitcoin supply. The last 17 U.S. financial crisis's were caused by an increase in the money supply. From the Great Depression all the way to the Housing Crisis. Increasing the money supply reduces all financial regulatory agencies, meant to protect u$, to shit.
 
WestOfFive said:
Man with over $200+ million in Bitcoin can’t remember his password



What if it was just 1....2....3.....4
Click to expand...
Why doesn't he just pay the best hacker $100+ million, half of is worth to retrieve password. This could be a complete loss. It's possible he has monies and investments elsewhere, and can afford the fall.
 
A lot of buzz around Dogecoin, Elon Musk over the weekend tweeted about it and it shot up. I don't know enough to understand this crypto, basically a penny stock the way I see it that is peer to peer.
 
soccer619 said:
A lot of buzz around Dogecoin, Elon Musk over the weekend tweeted about it and it shot up. I don't know enough to understand this crypto, basically a penny stock the way I see it that is peer to peer.
Click to expand...
Dogecoin was literally setup as a joke. Musk tweeted #dogecoin but put $1.5B into bitcoin. Lots of other people/companies that are more mainstream with tons of cash could be next. This will be the driver to $100k.
 
soccer619 said:
A lot of buzz around Dogecoin, Elon Musk over the weekend tweeted about it and it shot up. I don't know enough to understand this crypto, basically a penny stock the way I see it that is peer to peer.
Click to expand...
The quantity of penny stocks can be modified at any time by the issuer of stock. Not the case with bitcoin.
 
You must log in or register to reply here.
Back
Top