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post #71 of 80
I think a different crypto-coin will overtake bitcoin, or possibly be its equal. It will be a security based coin.
post #72 of 80
Quote:
Originally Posted by extracrunchy View Post

Gold and bitcoin both do essentially the same thing: use energy (mining) to create something that people perceive as having value.

That's the delusion that bitcoin miners tell themselves. My earlier description is more accurate: a mathematical circlejerk.
post #73 of 80
well at leat i can safely now know which is the 2017 bubble award goes,

bitcoin , i ll propably bet some option on it before it collapses.

Lol @ all who think bitcoin is a real currency.

Even if it could be ( not rly for many technical reasons ) the whole economics is based upon who can control the money supply. you cant control bitcoin thus it wll never be acceptable as currency
post #74 of 80
Quote:
Originally Posted by Mand12 View Post

a mathematical circlejerk.

This more aptly describes debt-based economics as a whole, not any specific financial instrument.
Quote:
Originally Posted by st3roids1 View Post

you cant control bitcoin thus it wll never be acceptable as currency

Both premises in your statement are false.

Bitcoin is rather tightly controlled by a relatively small core group of miners and developers. Indeed, this is one of the most major criticisms of it.

Viability as a currency is not based on centralized control and it's far from inconceivable that a vastly more decentralized currency than Bitcoin could achieve broad support and utilization.
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post #75 of 80
Quote:
Originally Posted by Blameless View Post

This more aptly describes debt-based economics as a whole, not any specific financial instrument.

...No, it has nothing to do with debt. It was a comment on claiming that the contribution of your GPU to the blockchain constituted actual value used as backing for the cryptocurrency.
post #76 of 80
Thread Starter 
I think that is Bitcoins main problem, is that it is controlled by a few very powerful and rich miners (mostly in China btw)... also good luck ever trusting anyone if Bitcoin ever does become mainstream, I imagine robberies will increase quite quickly, because Bitpay credit card type service (nothing to protect you the consumer unlike Visa/Mastercard), someone steals your physical hard drive or Bitpay card, transfers it all to Monero Coin, etc.
    
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post #77 of 80
The easiest way to have it not traced is to use a Bitcoin interac machine and pay cash....
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post #78 of 80
Quote:
Originally Posted by Robilar View Post

The easiest way to have it not traced is to use a Bitcoin interac machine and pay cash....

Or use Monero.
post #79 of 80
use a laptop, spoof all hw ids. Connect to a public network and use a vpn. Then wipe the drive, which resets and (hopefully) removes traces of the hw spoofing.

Then when you are asked as to how you acquired this money plead the 5th (us only). But I wouldn't recommend such activities. Very shady.

[exit] don't connect within sight of a camera, so if you have to use a wifi gun or dish.
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post #80 of 80
Blockstack will hopefully help with this
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