Vitalik BTFO

>Bitcoin is an economic system
If this is what being an oldfag is, glad not to be one. Bitcoin is a protocol. The economic system you refer to is just the first application we found for it. Fucking retard.

he is a ranjeet not a pajeet a ranjeet is higher caste curry nigger who preys on gullible pajeets for rupies.

>hey user, i have no redeeming quality so must rely on seniority. bitcoin was a natural improvement over banks and boomers emotionally invested in their bags, and now i'm emotionally invested in my own bags so i'll dismiss newer improvements. do you know how much of an idiot i am for wearing about bitcoin in 2013 and still not being a multimillionaire? Yea that's right pretty damn stupid, so greater's fool theory is the only way i'll make it for the foreseeable future, if you want to compare consensus systems please fuck off before people wise up to my ponzi

craig wright is using a classic alinskyite tactic. call someone else out on an action that you're doing so that when someone goes after you for your crimes it looks like they're the ones who had smell't it and indeed dealt it.

if it was a waste then i would be against it it's however the price of having a distributed trustless permissionless public ledger that is secure.

Ye but he tried to scam westerners with BSV and paid for trolls on Jow Forums too so I'd demote him to Ramprasadkumar personally

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If you are not a brainlet you can see that POW can bring INNOVATION to the use of electricity , unlike the stale use the world is using it for now. But I won’t spoonfeed a retard.

Just go back to your mom's basement. I feel sorry for you. Nobody in their right mind would think this kind of bullshit. Your attempt to impress backfired in spectacular fashion.

Pee pee poo poo, must be a democrat with these ingenious lines of reasoning

How much hashpower would bitcoin get if it was adopted to the point where prices go 1000x from now? 1000x electricity use for bitcoin from now would be profitable until next halving. Then 500x.

It's fucking stupid. This is the kind of thing that crashes economies. Resource scarcity is real. Externalities are real. Austrian economics retards.

>doesn't have any sufficient answer so resorts to ad hominem

Yes, however humans have the remarkable ability to innovate. PoW is literally a dinosaur at this point in time

OK sirs

Like I said you are limited by your lack of creativity and imagination because you are a low IQ brainlet that can’t in any possibility be early to any ground breaking tech.

Who is to say that in the future , they cannot send a army of drones to the moon or venus for that extent to build a pow mining farm on the moon where electricity generation could be abundant, hell even on the deserts of giza or the fucking inhabitable north pole they can create POW farms that don’t require workers and sustains itself by using renewable energy, ever thought about it this way , you uncreative no hope fuck

>Austrian “economics”.

You're really digging yourself in. America really is a binary political shithole. It's easier not to overwhelm your brains with too much knowledge. Everything must be black/white.

I am sad to see that your brain has never been in an optimal state and has in fact always been limited by your lack of intelligence as well as ability to think out the box, hence you will always be a slave whereas visionary first movers like me will be your masters.

The poo has layers. The dried crusty shell leads eventually to a hot diarrheal cor in which you will find Craig suspended at its very center.

A shithole that can destroy your shithole if it came to it any time they wanted :)

You're like CSW level of delusional. Get off the drugs mate, you're nothing special.

Yes, and you add nothing of importance

Good luck with that. Only proving my point further. You have a long way to go in life, my friend. Hope you learn something with your time and make something out of yourself.

So you are saying your shithole is technologically superior than the us shithole? Who is delusional here, I don’t have a long way to go as I already have everything you ever could have and your future 100 generations if you even have one.

>PoW is literally a dinosaur at this point in time
yeah in a way it is, however there have not been a better system found for the fundamentals. everything that scales better sacrifices something very important that can not be sacrificed. that is why i think cryptos will build on top of each other. btc will be the backbone but too slow and expensive for day to day transactions and shopping. still provide the foundations for the whole ecosystem.

>as I already have everything you ever could have and your future 100 generations if you even have one
Daaaaaaaaaaaaaaammmmnnnn
He f'ed you up!

I know. It's just philosophy. Bad philosophy. Fucking austrian-economics-retards. It's a very simplistic economic view that maybe one can use as a stepping stone to stimulate thinking in mid teens and then go on to grown up material.

Lacking basic reading and comprehension skills doesn't surprise me. Go read again and try to understand what people are saying. You are the only one spewing this kind of bullshit. I would say I feel sorry for your friends but I you probably don't have any since you're impossible to talk to.

damn satoj back at it again

Sure my friend. Keep thinking you are not just another NPC, believing that your opinions are formed by yourself and not by the cnbc and bloomberg narrative that is being reinforced into you and your small cubicle every day.

If he's talking about not having a public health system where you pay 70k for a broken finger, paying 10's or 100's of thousands to go to university plus knowing all your past and future gf's sucked/will suck black cock...yes, you have it great over there.

This level of coping. The mess, that is called your life finally reveals itself in this post. Brighten up, there will be more chances in the future.

Thanks. All the best to you too.

Why is our glorious Creg Sanjay Right so intent in bashing a guy who is half his age?

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He sounds like an angry boomer. Making fun of a self-made man who made it before 25 and, for better or for worse, changed the world. He's cucked on all levels.

Who created the pow concept again

Cynthia Dwork and Moni Naor

Never even attempt to help these people.
Never even attempt to argue with these people.

PoW by its very nature can't be cheap. If it's cheap then it's easier to attack. If some guy figures out a way to use solar for mining then it just means that the money saved from operational costs will be diverted into more solar farms to maintain competitiveness.

Moreover one could even argue that PoW is essentially PoS because amateurs can't really mine for profit either.

>If some guy figures out a way to use solar for mining
wait what do you have to figure out on that?

Bitcoin blockchain is a dead man walking. Especially in times of falling hashrate. POS is impossible to 51%. To 51% bitcoin right now would take 30 million dollars

its cringe seeing people actually listen to wright, its like watching people listen to those "traders" trying to sell you get rich quick courses while also trying to trick you into thinking they don't actually make all of their income from selling courses

Who created the term

>POS is impossible to 51%
wtf where did you pull that retarded shit out of? the fact is pos can be easily 51-ed by simple market operations and it has no memory basically from the point 51% share reached the owner has full control over the history.

they did and hashcash (algorithm used for btc pow) was created by Adam Back

you say that like some other random altcoin is going to come along and pick up where bitcoin left off. if bitcoin gets attacked like it has been before, it patches itself and moves on, like any piece of software.

only true late adopters think that you can kill bitcoin/ethereum and the crypto market will just continue on and make them rich with their ico funding tokens

What about ari?

yeah okay Markus Jakobsson and Ari Juels
interestingly blockchain was invented by Stuart Haber and W. Scott Stornetta but could be there was several parallel projects before btc.

all Satoshi did is put the existing pieces together and made a decentralized trustless system out of it.

and all Craig did was shitposting on twitter

same dude fuck the free market daddy fed pls incentivize me idk what to do you know best daddy

Wow. That escalated rather quickly. I was just pointing out the fact that he clearly indicated to you that his current financial situation reflects what would appear to be an amount much larger than you probably can even conceive of. You might even be talking to a billionaire. Serious.

You can’t kill Ethereum because it has an actual use. You can kill bitcoin quite easily. This will happen as soon as it loses the number 1 spot on cmc to Ethereum.

The only usecase bitcoin has is that it increased in value. So far his year it has failed at it’s only useful property.

Good riddance btc press S to spit on the shitcoin.

>famous last words of an eth addict

thats just some serious late adopter cringe right here, and this is coming from somebody that owns far more eth (in value) than btc.

Lol. You better believe it’s happening. Far more people depend on the success of ETH than he success of Bitcoin. No one gives a fuck about some chinks and a bunch of boomer bagholders. Bitcoin could disappear overnight and it wouldn’t make much difference.

SOCIALISM DOESNT WORK. WHEN WILL YOU FUCKING RETARDS UNDERSTAND THIS

What are you talking about you brainlet

youtube.com/watch?v=wT4WgO78prE

If BTC was guaranteed to never increase in price, how much would you hold?
Exactly.

Eth is probably the biggest ponzi piece of shit out there lmao

if it was guaranteed to never decrease in price or just relatively stable i would keep about 50% of my wealth in it.

There will be stablecoins on eth that track a stable cpi value

well bitcoin goes down everything goes down you could have seen this the last year two or three dozens of times. that's because for most people btc is the only thing that matters. it's the only real crypto.

stablecoins are a joke as all asset backed crpyto is a fucking joke. and no decentralized algorithmic (ie non backed) stable coin is actually working even the idea is still in it's infancy.

so for now they are worthless or less than worthless.

I always have this feeling PoW will fall apart when mining facilities get physically attacked and destroyed, costing billions in damages that cannot be recovered.

PoS is more distributed because it's much cheaper in costs, private and harder to detect because of the much lower energy consumption.

That's drunk bogan English.

You brainlets are better off being slaves but for the final time I will englighten you. It is not bitcoin’s price, house price, food prices that are increasing, it is your dumb ass national shitcoin whether usd, yen or eur that is decreasing in value and losing purchasing power every single day. So yes even if Bitcoin never increases in price I will still hold 40% of my networth in it, the other 40% goes to gold and real estate, and the final 20% is for spending.

>he’s never heard of MKR and DAI

Point at the shitty bitcoin maximalist and laugh.

>bitcoin goes down everything goes down

>this state of affairs is a law of nature and can never not be the case

Brainlet

PoS is like signing up for a Jewish cabal. It will never seen wide adoption.

checked and thanks for the quick rundown on curry nigger tiers

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>no decentralized algorithmic (ie non backed) stable coin is actually working
Real crypto expert here
>gold
Lol

>implying crypto backed is not asset backed
the system depends on eths valuation that's the achilles heel of it and the oracles of course, but sure this may lead to somewhere over time.
in the next decade it won't change eventually it might. we are nowhere near that yet.

Satoshi has spoken

Thats not satoshi. It's a fat Boomer scammer lawyer

i thought he was a gay philosophy doctor

>decade

You have a few months if that.

can't believe there are only two poster in this thread that actually get it.

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You don’t get it at all clearly.

>muh one pow chain

What a bunch of faggots seriously.

anything can happen but don't think so, btc been buried a hundred thousand times. there is a n hour of litany just skimming through the article headlines.

Craig cannot form complete sentences that make any sense. Why do shitskins listen to this numbskull? Oh, wait...

Energy supply is also a problem that will become less of a problem in the future.

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>what is a red herring fallacy
Craig is a moron, he is just lashing out at everyone because he feels that he is losing credibility with this ongoing forking bullshit. Bitcoin is king, but ETH is a clear improvement over bitcoin with the introduction of EVM and smart contracts.

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The problem with POW is that it requires heavy compensation for miners. It turns the mining industry into a cartel that controls all increases of coin supply, and the transaction fees. This leads to political conspiracies against the public userbase, as demonstrated by the recent actions of a number of figures in the industry INCLUDING CRAIG WRIGHT.