Can we just step back for a second and appreciate

What an astounding success Satoshi's invention, the blockchain, has become? Bitcoin has not only thrived, it has given birth to a wider economy of competing blockchains and pseudo-blockchains. It has survived a political dispute over the future direction of its governance, and the result of the dispute is currently in arbitration by the market herself.
Nobody knows where this whole crazy experiment is going to take us in the end, but one thing is certain: I don't expect an economy that has grown as rapidly as the cryptocurrency space, carving out a rich history in the process, will end here. We are just getting started and those who do their homework are going to the moon.
History, reminiscence thread for old timers.

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Only thing Bitcoin / Blochain has achieved is price appreciation. The number of useful real world applications is basically 0. Even bitcoin turned out to out to be complete failure from the p2p cash it was supposed to be. Bitcoin community used to be about fuck the banks, now we just want them to buy our bags so we can get more USD. Literally no one gives a fuck about the technology, they just want to sell to the greater fool.

"astounding success" my ass

fucking this. now sjws and trendies dance around like faggots at conferences and ooh and ahh when hyper-jew phrases like
>bank the unbanked
are thrown around on ICOs websites and shit.

it's nasty as fuck. viscerally disgusting to me.

>The number of useful real world applications is basically 0
that's not true, pretty soon we'll be able to gamble in a provably fair, transparent, and largely distributed manner and that's a direct result of what Satoshi started

I'm looking forward to putting a few bucks on slots every now and then

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>Even bitcoin turned out to out to be complete failure from the p2p cash it was supposed to be
blame blockstream IMO
>cue core autists

take this faggit globo homo gayplex feelings shit back to redd*t

See Why the buttcoin FP? Plenty of applications already, comon nobody who is above room temperature IQ takes talking points like that seriously anymore.

you have to understand why they want to convert to USD user. Most people's debt is held in USD. To me mooning on my cryptos and fucking up some commas means buying my freedom back that admittedly I got myself into when I was less financially aware and intelligent. Many people were shilled the degree = financial freedom thing, and that debt was buying them freedom from middle class/low class situations, going to schools they could barely afford with scholarships because in their youth they believed everything they were told because they had yet to be jaded from the world or their rolemodels/authority figures told them it was a good idea. I could wait until the USD crashes or I could work these satoshis and get my head above water. I never 100% sell though. We gonn' make it user, but making it means something different to everyone. For me it's 50k~ ish and money on top. My dream life? Owning an ethical bank with a small team of money management pros and working our way to buy the financial freedoms of people and not letting kids like me get themselves into crazy debt by giving them reasonable interest rates.

>Can we just step back for a second and appreciate

fuck off you fucking shit head go post le bogg memes to all your normie fucking fucks

i think you're basically right, but missing the broader picture. when i look at things like theta, powerledger, and the like - even if these things don't succeed - i see how this kind of tech has the potential to completely change how the economy functions.

yes, bitcoin is essentially a ponzi scheme, and it is also digital gold, which is purely speculative and isn't that interesting. but it's also the reserve currency for the biggest experiment the financial world has ever seen, that could change everything. so it's a bit more complicated than you think.

for the record i don't own any theta or powr at the moment.

you sound like a nice one, user. actually altruistic.

have you heard of mutual credit systems? could be a way for peer-to-peer loans to happen with 0 interest. it's partly what holochain is built for.

Thank you, I try user. They say there's no evil or good in the world, that to assume the role of the moral judge is immoral in itself. I say fuck it, lemme just do what I think is right. I haven't heard of mutual credit systems but I'm waiting for some eth to come around so I can start investing in an exchange besides binance. I just might pick up some HOT based off your shill, still much research to do.

You get it. Bitcoin will survive because it is base money for the greatest show on earth. I believe that before this experiment is over, whether that is 3 years from now or 300 years from now, we are going to see some serious shit.
Bitcoin also finally gives us Austrians a way to put our money where our mouths are. If you have a deep understanding of the theory of money, it is obvious what an excellent money bitcoin is long term.

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It's "unbank the banked" not "bank the unbanked"
You got the memephrase wrong lol

Idk to me any scaling issues etc. are temporary, and not that important. The biggest problem with using crypto as a currency is the volatility. Normies will never use it as cash if they can't be sure what it's worth tomorrow. People say it will have less volatility as it gets bigger but so far that hasn't been the case. I'm not sure if it's even solvable without introducing some sort of centralization / trust into the system.

I think you're right about volatility, but there's plenty of stablecoins proposed that don't require any centralization. personally i think DAI is the most interesting. I'm also keeping on eye on Radix. And then there's also Havven, which is a bit weird since the asset backing the stablecoin isn't actually backed by anything, but it might actually work with their scheme. And then there's also basecoin, now called basis, i think, which for some reason I'm most skeptical about. And then also holo-fuel is supposed to be *less* volatile, but not actually a stablecoin

no

DAI is pegged to USD and USD is controlled by the federal reserve, therefore more centralized.

I know a lot early BTC ers we're attracted to the idea of not being subject to monetary policy, inflation etc. Many think USD is doomed. Not sure if there's any validity to their ideas, but USD crypto is something pretty different.

How about you step back to rēddit

>He hasn't realised bitcoin has now been co-opted by people who want to inure more people into the banking system than the opposite

It's bank the unbanked user, ironically the opposite of what satoshi actually wanted.

>It's bank the unbanked user

In what way

You are a MANIAC

that user is a retard who thinks satoshi is a bogin scamlord

Sadly this, nobody fucking cares unless they can sell for more USD

I can not wait until Etherium puts this relic to pasture so everything isnt so dependent on how it is priced in.

Wrong thread bro

Test

late adopters can't appreciate it because they never experienced it, thats why they're so desperate to shill shitcoins like bcash, hoping for those early adopter gains.

This. I bought in 2014 as a skeptic wanting to see how the cryptocurrency experiment plays out. Now that awareness has plateaued since bitcoin was released 9 years ago, the critics were right on almost all counts except for the price appreciation part. I guess we all underestimated the amount of greater fools out there. Worst part for me is that the community is now represented by penny stock traders, scammers, paid shills, and delusional pollyannas.

9 fucking years, and this is where we're at.

Also it's annoying af to see boomers like Mike Novogratz and Thomas Lee identifying cryptocurrency as a millennial movement. No, it's not a millennial thing it's a retard/naivete thing. Just because other basement dwellers buy CSGO skins or bitcoin or bitchain doesn't mean I'll buy them too.

DAI does not have to be pegged to USD. That's just the arbitrary value they choose to peg it to. It can change. And no, brainlet, that does not make it centralized. It's totally decentralized, just stable at USD value.

yeah fuck that vitalik fag and all shit icos

>ethical bank

Fuck off plebbitor

>it has given birth to a wider economy of competing blockchains
Only because bcore cucks limited the blocksize and halted Bitcoin's growth for years. If they had gone the CASH Chad route from the beginning instead of small blocks for their small cocks there wouldn't even be any competition. Guess we'll have to rely on based Satoshi to save it again.

2018 is the year of the CASH.

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>gamble in a provably fair, transparent, and largely distributed manner
I'm already doing that, I can trade in a DEX.

from 2009-2015 btc was basically 90% drugtrade/illegal shit and 10% nerds wanting an end to banking.
2015-now speculators wanting an easy way to make money.

Useless tech since day 1. But were all here to make money off this shit as best as we can before it gets corrputed by the kikes like everything else in this world.

Blockchain literally has had 0 impact on our lives until now and its already a decade old tech, and it will continue so for a while longer until AI tech matures then we might see an impact on everyones day to day life.

Don't lie to yourself nigga we're all in here for the money and don't give a rats ass about the tech behind it, we all want to make an easy buck from this elaborate ponzi.

I don't know what DAI is, but who chooses the new value to peg it to and if it's so easy how can it be stable for the people who own it?

OK, I know I'm searching.

I don't give a shit, I want it to grow exponentially and become rich.

>value totally controlled by couple bankers
>not centralized

Ok buddy

do some fucking research
the value is pegged through collateralized debt positions that work on the Ethereum blockchain, hence it is decentralized. The point of it is merely to be stable, and it doesn't matter to what reference point it is pegged. It has no relation whatsoever to the bankers who control USD, and if USD becomes volatile or becomes a less desirable peg, DAI can float, but still be relatively stable, or can be pegged to something else.

At first it wasn't like that. The design of bitcoin wasn't to make you rich. It was to eliminate a third party or central bank from holding keeping record of your money. Now with bitcoin, you keep record because it's on the blockchain and your public key can't identify you.

But now because of tax reasons and people cashing out like crazy, bitcoin became a ponzi. Now all people want is the next 100x altcoin to ride and then sell it for USD so they can buy a new house or a fucking "lambo".

I still feel in my heart that the deep state will take over crypto and have their own blockchain for each country. Your identity will only be visible to the government meaning no regular person can say who you are by seeing your public key. And public keys were always meant to change each transaction. Bitcoin was meant to grow much more steady than it has.

Blockstream took it over. It's gone the wrong way. Bitcoin Cash is the attempt at turning back time and starting back where bitcoin was its original self. This time with bigger blocks.