What is Holla Forums opinion on bitcoin and crypto currencies in general?

What is Holla Forums opinion on bitcoin and crypto currencies in general?

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en.wikipedia.org/wiki/Merkle_tree
bitsim.beepboopbitcoin.com/
twitter.com/AnonBabble

Mostly ambivalence

I think it's a meme. Miners turn perfectly good hardware and energy into heat dissipated and dead hardware (that requires a fuckton of rare minerals, then be processed once disposed etc), people who buy and trade them are stupid gamblers. It's a fedora currency, it makes sense in a neoliberal utopia that elonfags dream of but I will not endorse this shit.

While I say this, I believe we could probably use the blockchain tech for some other actually useful applications.

honestly if one was to buy silver coins and horde them, it would make more sense then using bitcoins IMO

That is one expensive meme

The actual technology behind cryptocurrencies (I.e. the blockchain) is incredibly interesting and has legitimate applications toward achieving a proper, decentralized Internet. Bitcoin itself and the people who swear by it are memes though and the only real use for it is still buying drugs.

bitcoin price is so volatile that it is useless for rational asset evaluation
invested bitcoiners always love to fawn over these numbers while they hoard their precious
but just imagine what would happen to bitcoin price if one of the new bitcoin millionaires suddenly decided to cash out

all real businesses that accept bitcoins as a payment method peg price in bitcoins to the price in fiat just because bitcoin is so volatile

Capitalism is an expensive meme.

...

genie's out of the bottle and it's outkiked the kikes; the only iffy thing about it is the distribution of pretty much any coin - like everywhere else Pareto strikes again
I forsee:
$1T marketcap in 2018
$10T marketcap by 2020
god knows how much beyond that
get in bois, there's still time

No way.
The most compelling features of crypto currency to normies, namely wiring money nearly friction free, are going to be offered by governments if the market caps get to a Trillion and beyond.

That only with their deflationary nature will see crypto currency collapse. Until then they are providing a desperately needed service that should have always been provided by government, nearly cost free electronic transfer of money.

nope, it's not the fees but the fact that there are no gatekeepers with kikey fees, taxman taking pounds of flesh, and - most importantly - no way of counterfeiting
literally the exact opposite the stock market, capital gains taxes and central banking stand for; yes, they are most volatile but volatility is good at this point, draws in the numbers and it all grows exponentially from here
you're generalising BTC's characteristic unto all alts; there are loads of them which are very inflationary in nature
says the increasingly nervous man for the xth time in crypto history
you mean monopolistic fiat that's made by kikes, controlled by kikes, inflated by kikes and devalued by kikes? this is beyond "electronic money" but more a way to escape modern serfdom that transcends wagecuckery, state ponzies, monopolies and so on; it represents an untouchable trustless means of transferring wealth or value that is beyond arbitrary expropriation

The gatekeepers are the speculators with large crypto holdings. This is why the gold standard was abandoned in the first place.
You don't need crypto currency to evade taxes. And you can't buy big ticket items like new cars, real estate or businesses with crypto currency, making them very limited in utility as a replacement for regular dollars.

All of them have caps to the amount of coins can be mined right?

Hitler never printed a single debt free dollar. The only people who ever did were Kennedy and Lincoln, both liberals.

I'm not against crypto currency, and I'm definitely not against undermining the dollars hegemony. It's just that crypto cash as it stands now is deeply right wing libertarian. You guys fail to see that the state comes from the bourgeois power, not the other way around.

Eh, the blockchain is a fairly niche technology and most things that use the blockchain are actually just memey horseshit. Most things that use a blockchain don't need a cryptographic proof-of-work and would be better off as a plain-old append-only public ledger tbh.

I was implying stock brokers who have to jump through x hoops and pay y shekels in order to gain access to the market, which they pass on to their customers, making bank in fees along the way; contrast this to essentially no barrier of entry into crypto
there's literally nothing wrong with gold standard - whales or no whales having most of the supply; there will always be whales in every store of value because Pareto principle, early adopters etc.

this isn't about need, it's about having total control over your holdings that NOBODY can arbitrarily take away from you, that is unless you fuck up by divulging your private keys to the wallet
there's no ECB, FED, BOJā€¦ to excercise control over currency policy or provide bailouts to buddies/masters; you carry the yugo banner so I don't have to remind you to nevar forget ex-yugo dinar; the only fond memory people have of it are fixed interest rate loans during hyperinflation on which everyone bought land and built houses essentially for free during the 80s, these are the same people that later on privatised all real estate, got into early pensions, abuse the single payer healthcare systems and nowadays prey on their children's futures while spouting yugonostalgia

cryptos' everyday real-world utility shall come soon enough, be patient; I reckon the main reason for this not being so today is their volatility and regulatory grey area when it comes to doing legitimate business that must comply to whatever legislation

nope, depends on the particular coin; some have no caps whatsoever, some have high inflation rates, some are extremely deflationary but what they all have in common is that they are denominated in BTC
there are also various approaches: some employ PoW, some PoS, some DPoS and probably other systems of processing transactions; I won't get into how and why they do what they do but I can tell you that 99% of altcoins' raison d'etre is to facilitate the increase onf one's BTC stack through trading

I'm using the term to represent usury; I'm sure you can tell I abhor all fiat; sound money are silver and gold but crypto is even better because it's more fungible and more easily transacted

I don't think anyone who put in work into anything wishes to see the fruits of their labor diminish over time or get taken by someone who didn't put in said work, in essence it transcends the libertarian-authoritarian divide


there are possible applications beyond memes, for example blockchain could facilitate demonstrably free and fair elections or tamper-proof recordskeeping, distributed computing and so on, essentially could support any decentralised system that relies on computers and/or databases
PoW is also only one of many ways of approaching tx verification and I agree on it being a bit wasteful

It sort of already is, the idea of using hash functions to make things harder to tamper with is way older than blockchains: en.wikipedia.org/wiki/Merkle_tree

Fuck that, why aren't there crypto-labor vouchers?

Fuck off with your retarded meme.
here entertain your ass: bitsim.beepboopbitcoin.com/

>>>/gnussr/

There should be a mutual credit system and labour vouchers built on something similar.