Possible Bad News For US Crypto Miscers...

11-28-2020, 10:23 AM

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#61

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Originally Posted By dopamine72⏩

BTC is not secure like people originally thought, I see and agree with some of your points but IMHO you're on the extreme side of things especially given the history and current news. If we're talking 100 years then obviously that's not as extreme lol. I speculate because the government knows it can be traced they will want it to be used to avoid the issue of people using other untraceable cryptos. This may be why large cap companies are starting to use it. Plus it will be better for the entire central banking system this way. Because untraceable crypto can wreak havoc on our monetary system.

You never mentioned PayPal implementing this onto their platform, nor coinbase working with VISA on a crypto credit card. I believe starbucks and a few other companies have been accepting it as a payment method too (a while ago). Point is I think this trend will continue and more businesses will start accepting BTC as payments which will cause it to grow. The US dollar is also losing its value.

No real point in bickering though, there are plenty of solid points on both sides of this debate, I think you could agree with that at least? Thanks for posting all that info.

Paypal and visa are only filling a demand to make money for themselves. Sure, it may lead to more people investing into the bubble, but it will collapse at some point. And bitcoin especially is not suited as a payment in daily life. Almost no one uses it as payment even after 11 years. Almost no one. It´s not a good currency nor a good store of value. It´s a good spesulation/gambling asset. The black market probbaly uses it a little bit, but I think monero and other coins will take more and more over in that market, in the coming years.

Most companies you can pay in crypto doesn´t actually receive your crypto, the crypto gets converted to fiat automatically, and the seller gets fiat, not your crypto. Very few businesses would want to hold crypto at the moment because it carries way too much risk. Only idiots like MicroStrategy are buying/gambling on bitcoin, and the CEO doesn´t even understand bitcoin, yet all the bitcoin ****s praise him.

There are many good arguments to support blockchain and crypto, but many good arguments for bitcoin. It´s a clever scheme and supporting something that will eventually collapse is bad imo. And the bigger it gets, the bigger the collapse will be, and more people will lose money. Bitcoin also hinders innovation at this point. It has no good fundamentals other than the security fundamental, but that will be lost in a few years.

11-28-2020, 10:26 AM

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#62

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Originally Posted By dopamine72⏩

You never mentioned PayPal implementing this onto their platform, nor coinbase working with VISA on a crypto credit card. I believe starbucks and a few other companies have been accepting it as a payment method too (a while ago). Point is I think this trend will continue and more businesses will start accepting BTC as payments which will cause it to grow. The US dollar is also losing its value.

Doesn't really matter if they implement features to take bitcoin as payment. The whole philosophy around bitcoin is to hold for dear life to the moon right? People into bitcoin are all about holding not spending.

11-28-2020, 10:27 AM

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#63

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Originally Posted By propreffered7⏩

I no longer have any at all. Havent followed it for years

But you know bitcoin is produced via "work" from the computer? There are two concepts used in "proof of work" and "proof of stake" commonly used. If i remember right the size of the block ($$) can discern how quickly a miner gets the block for you. So, to me its "not backed by nothing" but is more centralized because it's still gonna favor those who have more money to buy more

Further. I think i.d. established is a little more history or identifiable, but the blockchain is actually way more identifiable than cash. Every transaction is stored on the blockchain. In theory, its supposed to establish higher trust so you could look up a sellers history (or whoevers wallet youre transferring to)

Coincels have no answer to the 51% hashrate flaw and they never will because there is none. It is a fundamental flaw in the design of the system and I don't need a doctorate from MIT to know that.

It's a good idea I agree. It's not going to replace fiat currency anytime soon though.

11-28-2020, 10:29 AM

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#64

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Originally Posted By dopamine72⏩

I see allot of ignorant posts by idiots who think they know everything about crypto (typical miscers). Probably because you kunts are so butt hurt missing out on multiple massive run ups.

There are hundreds if not thousands of different wallets you can use to hold btc and plenty of loopholes to get through that mess the US government plans on implementing which will be extremely difficult and time consuming.

This is a cat and mouse game, brand new blockchains are being invented and used which probably none of you even know about on here (once again you guys are stupid)

This is the wild west and don't expect anything to be "regulated" any time soon. Coinbase is a platform for noobs by the way....

Quoted for ignorance, you literally have to purchase btc first before you can buy any other crypto because you can only buy other crypto with btc....Not any other currency

You come into the thread arrogantly, and then in your last sentence you post something that anyone who has actually brought crypto knows is false.

11-28-2020, 10:31 AM

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#65

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11-28-2020, 10:31 AM

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#66

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Originally Posted By TomWanks⏩

Coincels have no answer to the 51% hashrate flaw and they never will because there is none. It is a fundamental flaw in the design of the system and I don't need a doctorate from MIT to know that.

It's a good idea I agree. It's not going to replace fiat currency anytime soon though.

Yea its also slow as fuk

And for sure there are tons of implementation problems including getting rid of the pesky system put in place now lol

With the internet it seems hard to fully stop but i guess it could def. Be limited to niche uses

11-28-2020, 10:37 AM

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#67

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Originally Posted By PimpMasterC⏩

Paypal and visa are only filling a demand to make money for themselves. Sure, it may lead to more people investing into the bubble, but it will collapse at some point. And bitcoin especially is not suited as a payment in daily life. Almost no one uses it as payment even after 11 years. Almost no one. It´s not a good currency nor a good store of value. It´s a good spesulation/gambling asset. The black market probbaly uses it a little bit, but I think monero and other coins will take more and more over in that market, in the coming years.

Most companies you can pay in crypto doesn´t actually receive your crypto, the crypto gets converted to fiat automatically, and the seller gets fiat, not your crypto. Very few businesses would want to hold crypto at the moment because it carries way too much risk. Only idiots like MicroStrategy are buying/gambling on bitcoin, and the CEO doesn´t even understand bitcoin, yet all the bitcoin ****s praise him.

There are many good arguments to support blockchain and crypto, but many good arguments for bitcoin. It´s a clever scheme and supporting something that will eventually collapse is bad imo. And the bigger it gets, the bigger the collapse will be, and more people will lose money. Bitcoin also hinders innovation at this point. It has no good fundamentals other than the security fundamental, but that will be lost in a few years.

We can agree to disagree. The timeframe we were debating alone is different so we're actually more on the same page than I originally thought. BTC is 100% not secure anymore just FYI.

Originally Posted By Unstumpable⏩

Doesn't really matter if they implement features to take bitcoin as payment. The whole philosophy around bitcoin is to hold for dear life to the moon right? People into bitcoin are all about holding not spending.

If this was true then BTC wouldn't be so volatile but its extremely volatile therefore this isn't even close to true.

Originally Posted By BetaAsPhuck⏩

You come into the thread arrogantly, and then in your last sentence you post something that anyone who has actually brought crypto knows is false.

You are limited to BTC, ETH, BCH and LTC on coinbase to purchase with US dollars now I guess. There are thousands of other cryptocurrencies available that can only be purchased with BTC. I'm sure I'm missing something else too because the freedom has consistently gotten better with buying crypto.

Not too long ago you couldn't even buy the above w/ any currency besides BTC. That is what I meant.

11-28-2020, 10:37 AM

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#68

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11-28-2020, 10:39 AM

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#69

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Originally Posted By PimpMasterC⏩

Paypal and visa are only filling a demand to make money for themselves. Sure, it may lead to more people investing into the bubble, but it will collapse at some point. And bitcoin especially is not suited as a payment in daily life. Almost no one uses it as payment even after 11 years. Almost no one. It´s not a good currency nor a good store of value. It´s a good spesulation/gambling asset. The black market probbaly uses it a little bit, but I think monero and other coins will take more and more over in that market, in the coming years.

Most companies you can pay in crypto doesn´t actually receive your crypto, the crypto gets converted to fiat automatically, and the seller gets fiat, not your crypto. Very few businesses would want to hold crypto at the moment because it carries way too much risk. Only idiots like MicroStrategy are buying/gambling on bitcoin, and the CEO doesn´t even understand bitcoin, yet all the bitcoin ****s praise him.

There are many good arguments to support blockchain and crypto, but many good arguments for bitcoin. It´s a clever scheme and supporting something that will eventually collapse is bad imo. And the bigger it gets, the bigger the collapse will be, and more people will lose money. Bitcoin also hinders innovation at this point. It has no good fundamentals other than the security fundamental, but that will be lost in a few years.

I agree with all your thoughts on Bitcoin.

It's only strength is that it's the most well known, in every other regard there are better cryptocurrencies than Bitcoin.

If I buy something using Crypto and they have XLM option I use them. Quick, cheap and easy.

I respect what Roger Ver is trying to do though, he and the BCH team seem to want to fix or the flaws with Bitcoin Cash so that it can be used as an actual alternative currency.

11-28-2020, 10:43 AM

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#70

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Originally Posted By BetaAsPhuck⏩

there are better cryptocurrencies than Bitcoin.

100% agree and this was one of the points I was trying to make. There are many reasons why this holds so much truth. Thing is...any of the good/new cryptos that are the "best" most "secure" can only be purchased with BTC, nothing else. This is why btc has much life in it still. But if things change, I may change my opinion.

11-28-2020, 10:43 AM

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#71

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Originally Posted By dopamine72⏩

You are limited to BTC, ETH, BCH and LTC on coinbase to purchase with US dollars now I guess. There are thousands of other cryptocurrencies available that can only be purchased with BTC. I'm sure I'm missing something else too because the freedom has consistently gotten better with buying crypto.

Not too long ago you couldn't even buy the above w/ any currency besides BTC. That is what I meant.

Coinbase isn't the only game in town, as you know.

You can literally buy Crypto directly with fiat without ID, from places likehttps://local.bitcoin.com/andhttps://localmonero.co/

Originally Posted By dopamine72⏩

100% agree and this was one of the points I was trying to make. There are many reasons why this holds so much truth. Thing is...any of the good/new cryptos that are the "best" most "secure" can only be purchased with BTC, nothing else.

I would say that Bitcoin Cash and Monero are better than Bitcoin for different reasons, and they can be purchased directly with fiat using the links above.

11-28-2020, 10:45 AM

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#72

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Originally Posted By dopamine72⏩

If this was true then BTC wouldn't be so volatile but its extremely volatile therefore this isn't even close to true.

The reason it's volatile isn't because people are spending it. Rich people use it to launder money. So they put in big money, transfer it out, and the lemmings hold for dear life.

11-28-2020, 10:46 AM

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#73

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Originally Posted By BetaAsPhuck⏩

Coinbase isn't the only game in town, as you know.
You can literally buy Crypto directly with fiat without ID, from places likehttps://local.bitcoin.com/andhttps://localmonero.co/
I would say that Bitcoin Cash and Monero are better than Bitcoin for different reasons, and they can be purchased directly with fiat using the links above.

Cool site, so with this you can buy BCH then buy other cryptos correct?

11-28-2020, 10:51 AM

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#74

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Originally Posted By Unstumpable⏩

The reason it's volatile isn't because people are spending it. Rich people use it to launder money. So they put in big money, transfer it out, and the lemmings hold for dear life.

Not to mention the other various forms of black market shenanigans, pump/dumps, new investors, new cryptos being made so more hype carryover to BTC ETC ETC. No doubt BTC is one of the shadiest of all "currencies" "Investments" "assets" whatever you wanna call it. But what I'm trying to articulate to this whole thread is its going to continue to be around for a while and that's an easy call. Its just now starting to become mainstream as we all know and because of that it still has a lifespan. Now to try and predict how long that life will last is a whole different ballgame.

11-28-2020, 10:53 AM

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#75

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Originally Posted By dopamine72⏩

Cool site, so with this you can buy BCH then buy other cryptos correct?

Yep.

11-28-2020, 10:59 AM

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#76

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Originally Posted By BetaAsPhuck⏩

Yep.

Learned something new, repped. Any other crypto you can buy with US dollars?

And I remember when BCH came out, good fkin times lol.

- Edit I guess you have to buy fiat first then BCH so you can buy other crypto

11-28-2020, 11:15 AM

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#77

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Whats funny is that bitcoin has a very centralized coin distibution. Even more centralized than the fiat distibution haha. Bitcoin was supposed to be this super decentralized fair currency, but it´s more centralized than fiat lol. A handful of people/institutions own half the bitcoin supply. Just wait until they start to sell

For a cryptocurrency to have any chance at all to truly have a respectable coin distribution, it NEEDS a wide varity of usecases. If not, it doesn´t even stand a chance.

11-28-2020, 11:18 AM

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#78

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Originally Posted By PimpMasterC⏩

Whats funny is that bitcoin has a very centralized coin distibution. Even more centralized than the fiat distibution haha. Bitcoin was supposed to be this super decentralized fair currency, but it´s more centralized than fiat lol. A handful of people/institutions own half the bitcoin supply. Just wait until they start to sell

For a cryptocurrency to have any chance at all to truly have a respectable coin distribution, it NEEDS a wide varity of usecases. If not, it doesn´t even stand a chance.

how will coincels recover from the truth?

11-28-2020, 11:23 AM

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#79

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Originally Posted By dopamine72⏩

Learned something new, repped. Any other crypto you can buy with US dollars?

Monero.https://localmonero.co/

And I remember when BCH came out, good fkin times lol.

I hope the BCH team complete their roadmap.

11-28-2020, 11:40 AM

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#80

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Having a supply cap usually leads to extreme hoarding, which leads to centralized distribution. Thats why bitcoin will never be successfull long term since it has no usecases to attract a wide variety of buyers.

11-28-2020, 11:40 AM

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#81

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Originally Posted By BetaAsPhuck⏩

Monero.https://localmonero.co/

I hope the BCH team complete their roadmap.

BCH a good buy in your opinion?

11-28-2020, 11:44 AM

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#82

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Originally Posted By dopamine72⏩

I see allot of ignorant posts by idiots who think they know everything about crypto (typical miscers). Probably because you kunts are so butt hurt missing out on multiple massive run ups.

There are hundreds if not thousands of different wallets you can use to hold btc and plenty of loopholes to get through that mess the US government plans on implementing which will be extremely difficult and time consuming.

This is a cat and mouse game, brand new blockchains are being invented and used which probably none of you even know about on here (once again you guys are stupid)

This is the wild west and don't expect anything to be "regulated" any time soon. Coinbase is a platform for noobs by the way....

Quoted for ignorance, you literally have to purchase btc first before you can buy any other crypto because you can only buy other crypto with btc....Not any other currency

How do you cash out your investment without an exchange?

11-28-2020, 11:45 AM

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#83

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Originally Posted By PimpMasterC⏩

Whats funny is that bitcoin has a very centralized coin distibution. Even more centralized than the fiat distibution haha. Bitcoin was supposed to be this super decentralized fair currency, but it´s more centralized than fiat lol. A handful of people/institutions own half the bitcoin supply. Just wait until they start to sell

For a cryptocurrency to have any chance at all to truly have a respectable coin distribution, it NEEDS a wide varity of usecases. If not, it doesn´t even stand a chance.

This. And more competition against btc in the form of hundreds of alts just dilutes its value

11-28-2020, 11:47 AM

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#84

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Originally Posted By johnnyboi123⏩

BCH a good buy in your opinion?

I'm not the person to take crypto buying advice from. I strongly advise you to do a few weeks research into the project, and then come to a conclusion about it's long term potential.

I'm someone who believes that 'the elite' are screwing us economically, and are trying to phase out cash trackable currencies, so these days I mainly look into crypto as a way of subverting the system.

11-28-2020, 11:53 AM

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#85

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It blows my mind that people think the recent explosion in Crypto prices has anything to do with anything other than the money laundering through Bitfinex and Tether. Look at the market cap of Tether, then look at the Crypto market cap.

11-28-2020, 11:58 AM

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#86

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Originally Posted By Frank

It blows my mind that people think the recent explosion in Crypto prices has anything to do with anything other than the money laundering through Bitfinex and Tether. Look at the market cap of Tether, then look at the Crypto market cap.

I dare you doubt that Tether isn't 100% backed by USD.