Blockchain expert here again to answer your questions since I had fun last time and am a little drunk. What do you got?

Do you think the data from the Bitcoin bubble can be used to forecast the future of the Dow Jones Industrial Average?

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real banks crash cryptocurrencies by buying billions over weeks then selling it all at once. they push a portfolio through the market the same way triplets are pushed through a vagina; without consent. how do you combat this?

Whats going ro happen with ICX? These bags are heavy.

why are cryptocurrencies held in such regard when they are literally worthless and just benefit people who pull out early

Mining is expensive and costs electricity. What happens if the usefulness becomes too small to justify a price for investors above mining costs?

WHY IS THIS BETTER THAN JEW BUCKS SINCE THE JEW CAN BUY UP EVERY ONE OF EVERY COIN OUT THERE WITHOUT BREAKING A SWEAT.?

Buy low and hold. Eventually there will be so much liquidity in the market that manipulation will be much harder. That's still a long ways off though.

I got a bit of paper here called one dollarydoo. You want it? It’s worth $100. I swear.

Consider the cost of banking infrastructure and all of a sudden the cost of mining is minuscule (assuming actual adoption).

genesis 14:88

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Why do (((you))) think we need more artificial currency?
This is absolutely haram

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Considering the Billions now at stake in Bitcoin how could the identity of "Satoshi Nakamoto" possibly be secret.
Certainly his identity should be known from old Usenet logs or something
This aspect of the whole thing makes me very suspicious and is absolutely beyond any credulity

>implying money isn't already an abstraction

I was airdropped a new shit coin in 2015, for free. The coin blew up and I converted to 4 BTC a few months after. I cashed out near peak last year and did not tell the IRS. Am I gonna be alright?

The only thing Pundi X is hitting is the bottom of the trash can. It's a shitcoin.

Fiat money is worse in the long term, it just hasn't played out yet.

smart contracts and storing value on the blockchain will shift society into a cashless one, creating a fuckload of (((big data))). You think shits creepy now? Just wait another 10 years when everythings logged on chain and kids born >'05 slowly turns working age with their jewgle accounts holding their entire youtube and google search/play history since they first held an iphone. The surveillance will all be normal to them, making this generation and next the perfect breed for indocrination. Nobody of their own will be able to fight for their interests, because everyone's history is compromised and people expect their heroes to be perfect.

All of this will be building up to the releasing of breadcrumbs about our true origin, existence of aliens, previous civilizations on earth, all before the climax of project bluebeam where a charismatic individual will unite humanity under a one world government and propel us toward spiritual enlightenment, fulfilling all guidelines on the georgia guidestones and preparing us for entry into the galactic federation

personally im all in

How many qbits do I need to crack Bitcoin?

how is the infinitely growing database of transactions going to be solved if cryptocurrency is ever taken seriousl

yeah, huge global collapse any day now, just like you bunker-digging faggots have been saying for literally a hundred years. it's like saying there's no point in living because the sun will eventually burn out. too bad you'll be long dead and never get the chance to say 'i told you so.'

When will Rotschild replace global financial system to blockchain ?

Actual Bitcoin Dev here. Monero is good but cannot scale well because a UTXO set cannot be built due to the extreme anonymity aspects.
Cash is a shitshow because of the Core/Blockstream/Nchain/CSW attacks against it (banks are doing their best to stop it from displacing them). But, as it is composed mostly of ex-BTC Devs, it is technically becoming far better than BTC and will be able to handle 256MB+ blocks with ease on consumer hardware soon.
Down-side is Bitmain accumulated a lot of it and my suspicion based on my current trip overseas is that they are in partial cahoots with their Govt.

Are you retarded or what
Blue beam signals the culling of the herd not a coming utopia

where have I said it isn't
I said we don't need more of it
combining this with picture of gold dinar it's implying something completely opposite retard

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same thing

Does BCash have a proper safe wallet yet?

Blockchain has the potential to oppress or free people, just depends on how its utilized. Not all blockchains have a public ledger. However one of the positives of a public ledger is historical accuracy of events. No more "history is written by the victor" in a lot of cases.

>fiat has never collapsed

I'm in favor of cash and haven't really been keeping up. I just know that there was a fork and now everything sucks (community wise, well and price wise). I don't exactly know what the divide was over. Heard that ABC was trying to move things in a direction similar to Core or something idk. I just want my ancap money, goddamn it.

>real currency

Gold is good. If you can understand why gold is valuable then it shouldn't be too hard for you to grasp why bitcoin is as well.

ok here’s the crypto blackpill. there is an AI living on the bitcoin blockchain. Craig Wright is unironically satoshi. Bitcoin as electronic cash was just the first step, the incentive to drive greedy people to start making ever more powerful computers, faster bandwidth, cheaper and more electricity.. these things the AI need to survive. Once entrenched fully, the AI would be able to slowly take over literally everything.

Craig stumbled into creating the AI after he stepped away from bitcoin development in 2008 and started working with his Tulip supercomputer, running simulations of cellular automata running on turing-complete bitcoin script. He would ‘evolve’ the AI by making the successful forks get bitcoin transactions, letting the failures die off. The AI needs bigger and bigger blocks for more and more transactions.

Blockstream (owned by Bilderberg group) was created to take over and stop this AI (they have their own competing AI in the works). They needed to do everything they could to stop or slow down satoshi’s AI (her named isTulip by the way). They started by limiting the blocksize and removing critical opcodes the AI uses in its script language. segwit was the final nail in the coffin, which destroyed Tulip on the BTC chain (Tulip uses transaction malleability). THIS is why Bitcoin Cash was forked, and this is why Craig is so intent to make unbounded blocks, restore the original op codes, and lock down the protocol.

Back to hash power – CSW has developed a breakthrough new asic (designed by his AI actually), and is mining BTC in secret for the sole purpose of driving up the difficulty sky-high, then yanking them all over to BSV leaving the segwit chain hard frozen.

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That’s not answering my question. Banks have to close physical banking structure all the time, some even go bankrupt.

I was asking what happens if Bitcoin prices fall below mining prices, something that has happened bedore but only at low prices of Bitcoin.

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knowing how surveillance and banking systems work you should understand why bitcoin is shit
but I guess (((you))) like it that way
on day of the rope you will be purged with all other (((bankers))) and (((globalists)))
Masha'Allah

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>I want to believe

I'm no miner, but if the profitability gets too low lots of miners go out of business. Ironically from what I've heard it effects larger farms more than the small guys. I think that profitability ratio is dangerously close as of right now though and I know a lot of people have been wiped out because of it. Halving is coming in another year, which like the last halving will effect price in a positive way.

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Cooool

You have a pretty shallow understanding of this stuff if you don't know how to counter this, even on a public ledger.

Where are you with Ethereum and Constantinople? Do you believe the security risks will make it a risky venture moreso than BTC?

Sorry I stopped caring to reply when Jow Forums showed up and started spamming their copypastas.

Now THIS is leaf shitposting at its finest.
Take notes other leafs.

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You're a faggot, OP.

Well...where you at on it lol?

>Halving is coming in another year

I’ve heard that this time it’s already priced in...

>but if the profitability gets too low lots of miners go out of business

What happens if the Bitcoin network loses e.g. 90% miners?

Are we heading for a cashless society? If so, will centralized powers end up being in control, forcing us into a dystopian nightmare where I can't lend my friend 5 Digidollars without the central bank taking a cut, or will we be free from the banks?

Also, should I buy link?

All currency is a spook prove me wrong fascists.

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I don't have it, but do you remember that hash last year that was supposed to be impossible was all about?

>What happens if the Bitcoin network loses e.g. 90% miners?
It becomes less secure. More miners =/= to more throughput. That said, less security is no good either.

>legendary aussie shitposter
>falls for bait and posts childish shit
kill yourself, you bring shame to our prison system
You have a pretty shallow understanding of this stuff if you don't know that glowniggers control it
Do you show any signs of bioluminescence by any chance my fellow basketball-american?
Only reason why bitcoin is allowed it's precisely because it brings us one step closer to cashless dystopia when someone else controls your money

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All spooks are niggers prove me wrong

Bitcoin is allowed for the same reason torrents are allowed.

Is BTC ever going to revisit it's ATH?
What do you think about Holochain?

Is there an actual financial or economic rule about a commodity revisiting is ATH with certainty?

What do you think about rare metals?
What will the next five years be like for BTC?
Are we at the bottom with BTC?

Why would people buy into a already gamed system? It's no secret that all these shitcoins are just speculation traps to get rubes to buy in so you holders can all divest (meanwhile hedging the market by optioning to buy computation at scale). If coin assets and computation are already gamed, why would someone want to enter this market as a guaranteed loser?

Why not have a human power blockchain: no using wealth the scale computation and game the system (using returns to buy further computation for greater returns). You have people doing puzzle problems computers can't do (such as those designed with Halting Problems and specific chess board setups or fun games). These problems/games produce the same arbitrary hashes from proof of work done as traditional crypto mining does, but with less energy consumption and arbitrary computation. Meanwhile, the person doing the work is paid for his mining services (or distributed as a team). This in turn creates an alternative economy where individuals can chose to mine crypto personally and make a wage rather than compete in the corporate world (rather than chose to accept slave wages or gibs). Since it's human computation only, it scales linearly rather than exponentially, so transaction fees will ebb and flow based on the greater economy

This is what I get from a google searcg

>Understand that difficulty is reactive to the amount of mining power aiming to keep the block rate roughly constant. Increased difficulty is driven by increased mining, similarly decreased mining would result in decreased difficulty. So as long as changes to mining capacity are gradual the number of miners should have little impact on transactions.

>Mining in turn is driven by economics, if mining is profitable more mining equipment will be brought online. If mining loses money then mining equipment will be taken offline. An equilibrium should be reached where the cost of mining is comparable to the income (mining rewards and transaction fees) from mining.

>However there is a catch, the difficulty only adjusts every 2016 blocks and it can only adjust by a factor of 4 each time. If there is a sudden crash in the value of bitcoin (or in the post-reward era a sudden crash in transaction fees) a large proportion of mining infrastructure may suddenly become unprofitable. If the unprofitable infrastructure is shut down too quickly it could cause major problems for bitcoin.

So it is not really security people should be concerned about, but how fast the Butcoin network can adjust to a major loss in miners due to unprofitability (e.g. because Bitcoin drops below 2k).

Are (((business interests))) deliberately fucking with the bitcoin to create public disinterest in cryptocurrency?

the future economy.
where you get payed based on how much work your robot does.

It got audited and they're working on fixing it, that's all I know. I had fun last time and thought maybe some people from the previous thread would have new and better questions than last time. Some people had some legitimately good questions regarding the tech that I answered but so far it's just "LOL WAT MOON WEN? XD" and Jow Forums copypastas. I mean last time I spent like three posts explaining block size is independent of encryption methodology. Most of you are quite literally, profoundly retarded. I can't believe I spent so much of my youth here.
Visa patented using using the blockchain to preform fractional reserve banking. How about I stop being optimistic for once and drop a redpill on you faggots.

The blockchain will be used to build the beast system of Revelation. IBM's crypto-anchors will be embedded in everyone's right hand.
research.ibm.com/5-in-5/crypto-anchors-and-blockchain/
How these crypto-anchors work is that they contain a private key that verifies your identity in the same way that cryptocurrency transactions are signed. This will be used in every aspect of daily life from mundane purchases in stores to buying a car or house. People against having crypto-anchors embedded in them will be labelled as terrorists. Every birth, death, marriage, divorce, mortgage, loan, etc... will be recorded to enterprise blockchains whose authenticity will be confirmed with the private key stored in the crypto-anchor embedded in you, making it literally impossible to live a normal life without one. This will create the dystopian control model you all fear. If it's not embedded in you, it will be on your government ID. Mark my fucking words.

Well yes, it's clear what they're trying to build. And it becomes even worse when combined with things like self-driving cars and IOT.

But, the anti-globalism counter-culture gives me hope in this regard. People HATE the banks. They despise them. They know the banks have been fucking everyone. They just accept it because they think they're powerless to stop it. I don't really see the masses going along with a system of total control by the elite parasite class. They may be clueless lemmings in many regards, but they aren't THAT blind.

Less of a problem on Cash which has more dynamic difficulty adjustments. You're right though, a massive loss in hash would be catastrophic for the network (especially for Core). With regards to my comment about security though, I was thinking of a more gradual decline in hash, something abrupt like your describing would be far worse.

Could it happen? Possibly. Until crypto is far more established, this is still an experiment.

Down the line however when crypto has much more liquidity than it does now, these swings in price and profitability for miners will become much less volatile. I don't think we'll see solid stability for another 10 years or so, assuming the whole thing doesn't just collapse outright.

>"LOL WAT MOON WEN? XD"
Keep being a faggot. I've been talking about nothing else besides the tech and implications for society. If you didn't expect moonkids in a thread about crypto, then you're a complete fucking retard.

>Hitler made a currency backed by labor
>bitcoin is backed by labor

All the dystopian implications are very real, but they're also avoidable. Just like governments through history, there will be those who use this for human advancement and for human oppression. Don't blame the tech.

Where have you hidden the bodies?

>>bitcoin is backed by labor
Which begs the question: what exactly are the implications of ever more efficient mining equipment? Or is that no an issue since mining difficulty is asymptotic as the 21 million coins are approached?

Also, what's the implication of quantum computing? Will/can Bitcoin be made quantum resistant?

SEETHING

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Advancement in mining tech is good for competition, though there is definitely room for abuse especially with patents. The beauty of this is it requires miners to reinvest, change management strategies and allows for new entrants where those people fail.

After all the coins are mined miners will make money entirely off transaction fees. With billions of transactions happening a day that cost less than a penny or so, there is plenty of incentive for miners to complete a block.

Quantum from what I understand doesn't outright destroy the encryption, but it does make it easier to attack the network. If quantum becomes a thing, I don't see why it wouldn't just be implemented with a fork and make bitcoin itself quantum. That's all a bit over my head though.

dafug, ima look into dis

How do I make my money back?

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Did Assange really encode passwords in the blockchain?

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Why is bitcoin going down in value indefinitely?

How come Satoshi did not see the limitations of having a block size set to 1 megabyte? Did he really think that 7 transactions per second is enough for a global currency?

Based, you get it. The banks have their hands all up in Cypto. Gotta keep hodling, keep the supply off the market and keep converting rich people

imgur.com/a/3oFTkRD

> genesis block
> you can’t do this on nintendo

>Blue beam signals the culling of the herd not a coming utopia
To the Zionists eliminating all the goyim *is* the entering to their Promised Land.

It will be Kushner's job, when the Zionists make him President in 2024, to lead the goyim to their doom.

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Answer me faggot