Bitcoin....who's gotten into it?

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Originally Posted by stalefish3169

Because Jed McCaleb, the co-founder of Stellar and Ripple is on the advisory board, for starters. I doubt he would do that for a major ICO on his own platform if it was a pump and dump. Besides, I treat all my crypto money as something I can afford to lose. I'm not putting down 100k on margin.

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Board for Theranos was impressive too:

https://www.bloomberg.com/research/s...capId=20334531

Is McCaleb the guy who stole all that money on Mt Gox.

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Originally Posted by 4matic

Board for Theranos was impressive too:

https://www.bloomberg.com/research/s...capId=20334531

Is McCaleb the guy who stole all that money on Mt Gox.

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Jed sold Mt. Gox to Mark Karpelès several years before the shit hit the fan.

No one mentioned this news from today:

The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said.

Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.

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Originally Posted by 4matic

No one mentioned this news from today:

The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said.

Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.

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Steve Mnuchin is an evolving threat. We should probably just stick to paper money so nothing illegal ever happens again. Just like how the war on drugs has kept everyone from getting high.

Oh wait.

https://pics.me.me/cant-snort-coke-t...n-22897862.png

Also, that perspective makes this seem really interesting.

http://kutv.com/news/local/feds-to-a...seized-in-utah

On Thursday the U.S. Marshall’s Office is auctioning 3,813 bitcoins seized during criminal investigations, including one drug raid here in Utah.

It appears the feds want to sell the digital currency quickly as its value shot up in early December.

Recently, the cryptocurrency lost value quickly but at the time of this post, the value was still high – about $11,000 per bitcoin....

You’ve done your diligence. Good luck!

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Originally Posted by 4matic

No one mentioned this news from today:

The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said.

Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.

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LOL because USD is not being used to fund terrorism and illegal activities.

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Originally Posted by stalefish3169

“His find [of gold] represents not only his own labor, but 999 others to boot.” So do you think crypto currency just came out of thin air instantaneously? Of course not. It took the work of millions of humans completed over thousands of years. It’s the sum of efforts by mathematicians, engineers, philosophers, factory workers, etc. You keep saying Bitcoin, but you’re vastly over simplifying things. There are literally hundreds of cryptos, Bitcoin is just the most well-known…and for good reasons.

Other people in this thread recently mentioned IBM’s heavy bet on block chain. Did you know they’ve partnered with a token called Stellar Lumens to make international payments with very low fees in only several seconds? IBM itself reportedly has 1500 people working on block chain. Do you think the value of their efforts is imaginary?

I am making a big bet on a startup called Mobius tomorrow for their public ICO (initial coin offering). This will be the first ICO on the Stellar network. They are led by Stanford/Ivy League educated heavy hitters who just raised about 30 million in their ICO presale. Do you believe they think their work is worth nothing?

I get that gold is special, but you can’t send it in 3 seconds to someone on the other side of the earth. So in that respect, it is inferior to crypto. Bitcoin is also finite. Once all 21 million coins are mined around 2030, that’s it. But like I said earlier, Bitcoin doesn’t need to win at everything. There will be other winners as well, just as there are Dollars, Euros, Visa, MasterCard, Western Union, etc.

Finally, you need to give Satoshi a little more respect, man. He (They?) solved the double spend problem and to this day Bitcoin has still never been hacked. That’s pretty fucking incredible.

https://seekingalpha.com/article/413...tomania-upside

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You can't send ANY crypto in 5 seconds yet. That's the biggest issue. Transaction speed.

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Upcoming futures settlement dates starting 26th of Jan , 18th of Feb , 26th of Feb.....etc, lets see if we have a repeat (over 30% correction) of yesterday and the day before.

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Originally Posted by stalefish3169

What makes a Bugatti superior to a Kia? Lots of the new cryptos are shit and some are scams. Just like products in the "real" world.

Why do we have saws, drills, and wrenches? Why isn't every tool a hammer? Everything else is not nails.

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You can make an infinite amount of each "specialized" type of crytpo. Your argument fails again.

There is scarcity within an individual crypto, but there are an infinite amount of cryptos and they aren't hard to make.

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Originally Posted by Skidog

You can't send ANY crypto in 5 seconds yet. That's the biggest issue. Transaction speed.

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Don't get too close to the edge of the earth or you might fall off. [emoji12]

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Originally Posted by ICantLogIn

LOL because USD is not being used to fund terrorism and illegal activities.

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Just suggesting the same regulation and taxation as any other eft.

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Originally Posted by 4matic

You’ve done your diligence. Good luck!

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Thank you. May your investments increase in value too!

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Originally Posted by stalefish3169

Don't get too close to the edge of the earth or you might fall off. [emoji12]

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Big keyword here. . THEORETICAL.

Visa numbers are real and those type systems based on real currency are not theories. 3-4 transactions per second theoretically when visa does 1667? I.e. Bitcoin is slow.......way too slow.

https://mybroadband.co.za/news/banki...er-second.html


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Originally Posted by Skidog

Big keyword here. . THEORETICAL.

Visa numbers are real and those type systems based on real currency are not theories. 3-4 transactions per second theoretically when visa does 1667? I.e. Bitcoin is slow.......way too slow.

https://mybroadband.co.za/news/banki...er-second.html


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No one is claiming that Bitcoin and Ethereum are fast right now, but there are literally hundreds of devs working on scaling solutions. Read up on the Lightning Network, Casper, and sharding.

Ripple and Stellar are currently very fast. I've sent Stellar in seconds for less than a penny.

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Bitcoin won't get fast because to be fast means creating a larger trusted system... ya know... like a bank.

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Originally Posted by Summit

Bitcoin won't get fast because to be fast means creating a larger trusted system... ya know... like a bank.

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Ding ding ding ding... Which prize would you like sir?

Making it fast makes it just like every other currency. I know the devs talk about a better system, but guess what? It doesn't exist yet. Sooooo....vapor

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Originally Posted by stalefish3169

Tough to say at this point. It's not predicted to happen for over a decade. A decade in crypto time is like 100 years on the Gregorian calendar.

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What's the predicted effect of quantum computing on the whole limited hashing thing? It seems like you could burn through the limited blocks fairly quickly unless some other form of artificial scarcity is put in.

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Originally Posted by Skidog

Ding ding ding ding... Which prize would you like sir?

Making it fast makes it just like every other currency. I know the devs talk about a better system, but guess what? It doesn't exist yet. Sooooo....vapor

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I can just picture you two Luddites on the beach at Kitty Hawk laughing at the Wright Brothers.

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Originally Posted by abraham

What's the predicted effect of quantum computing on the whole limited hashing thing? It seems like you could burn through the limited blocks fairly quickly unless some other form of artificial scarcity is put in.

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Not sure. But I'm glad to have a bet on Stellar and thier partnership with IBM.

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NPR just did a bit this morning on how it's believed that 20% of bitcoin is lost. They had one guy on who couldn't find the computer he bought it with years ago and didn't keep his passwords. He thinks he bought it around 2009 for pennies, so at that time he just wrote it off as a loss of a few dollars...until now.

Some guy in England was trying to get permission to dig up the dump in his town in England to try to find his old laptop, same story.

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Originally Posted by stalefish3169

Not sure. But I'm glad to have a bet on Stellar and thier partnership with IBM.

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How does a technology partnership make the Stellar tokens more valuable?

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Originally Posted by iceman

Some guy in England was trying to get permission to dig up the dump in his town in England to try to find his old laptop, same story.

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saw this one....good story..what a tard eh? They wont let him dig it up because of all the gasses from the decomposing garbage...

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Originally Posted by Skidog

You can't send ANY crypto in 5 seconds yet. That's the biggest issue. Transaction speed.

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Bitshares. lightning fast and super low fees.

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Originally Posted by abraham

What's the predicted effect of quantum computing on the whole limited hashing thing? It seems like you could burn through the limited blocks fairly quickly unless some other form of artificial scarcity is put in.

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I have it on good authority we will likely see quantum in the pretty near future, IBM is close and yep...it could turn the whole bitcoin thing into a juggernaut.