Cryptocurrency General

I am a bit suspicious about this ethereum, looks like the designated future controlled corrency

They are using it but for more utilitarian purposes, not to replace what they are currently doing or to replace fiat.

This is exactly what I was talking about in the OP and the thing that must be worked against.

Cryptocurrency will be the future and we need it to be one that (((they))) don't control.

Unsure. I own some, but I don't really see the usefulness in it. Seems like the Crypto trying to tie the others together into one functional unit.

Why does this topic need a general?

if Bitcoin wins the popularity contest then what could the banks do to impose their own cryptocurrency?

make it illegal

Google DAO smart contract hack to see how shitty smart contracts are. It's a buzzword to scam VC funding, that's all.

Guy made 60 million _according to the terms of the smart contract_ he didn't hack or steal anything. But he drained their finances, per the terms of the "smart" contract.

no matter how hard you favor one of the current version out there it doens't matter

it all depends on state authority
why is ugly printed cellulose worth something today, because the governments around the world decree you can pay your taxes in it
same with this emerging new bitcoin, the states power to dictate how it wants to receive taxes trumps any other mechanism of customer choice

you should not aim to make a good version the one everybody uses, this is impossible too many actors will try to subvert
the best hope is to create a good alternative to the system, used probably only by the redpilled people, the problem here is that it's pool will be too small, thus leaving it open to boom bust manipulation

Cryptocurrency is a good idea, but all the implementations you list have a fatal flaw: they're not backed by anything of measurable value, so their currency-value is completely arbitrary and unstable.

True believers will say "yeah but neither are federal reverse notes!" Um, yes, that's true, but you just proved that your Litecoin has the same problem as the currency you're trying to replace.

Then say say their cryptocurrency is good because there is a limited supply, and elites lack power to increase the supply by running a printing press. They miss the point: both supply and demand must have some reference in reality. But these crypto-currencies only have one anchor in reality, the limited supply. Because they lack backing in material wealth the single anchor of limited supply is insufficient to stabilize the currency's value.

The true believers will say, "stop focusing on this one negative and look at all the positives." They miss the point, lack of backing is not just one flaw to be weighed against a multitude of benefits: it is the fatal flaw. Lack of stability means unusability as a medium of exchange.

When someone comes up with a cryptocurrency that is limited in supply and has real-wealth backing, then I will consider it as having a realistic possibility for success.

Yu know many years ago when Wall Street finally swooned away all of my money and then on top of that the huge taxes due on money I invested and yes 30% rate under 1 year. I will tell you what needs to be done and when I say this I mean it. Now I lost all my money in Kodak, hey I made a bit my first time newb won gets With SIRI because of the spectrum value and the Carl heat.

Anyhow listen Kodak got railroaded by Google and Apple but not by Samsung. It was a bad bait. Kodak had the Digital camera patent. Yeah they had a small nuclear thingymagiggy downstairs to. Anyways so the New York courts Slug pumped Apple and Googles long hard washingtons up their rubens and somehow flashpoint was the Legit. And Korea just years prior was? Yeah,

So here's what Kodak needed to do. You delete the fed and everyone gets a sweet super barter billy (don't tm me) and every hot dog and bad Samaritan gets one, but you, yes every citizen must perform an inaugural civil service. And I mean labor. DO YOU WANT THAT pipe line breaking in the great lakes? The one Obama made some shitty deal on? That pipeline is just an example of how to renew Americas outdated infrastructure.

Now listen so there are commission projects Donald Trump would be perfect for this. Cut the war crap guys come on, enough misery. So you have your Billy barter machine and it makes this fiat paper money of your own design. Now like Bitcoin and the inaugurations symbolizing this as mining to start. Look it's pure barter. Anybody anywhere does deals using a barter certificate so you go put a new engine in sallys minivan and you need 4000 Barter bills or Nickys. Sally has 4000 Sally bucks. So you grab sallys barter broncos and by reputation accord (and oversight measures) sally says in return her reputation on barter can be used for services she or any of her family members can physically render. Or aside from food Merchandising can accept the barter certificate if her barter score is the el primo that's the trusty sally everybody knows ringer blasts on the merchant screen. Nobody needs to be taxed or have usury. Instead we drop citizenship as a solo citation and America now has a membership fee and like credit your Good honest word protects you and communites and bad ones well. prisons aren't going away. Keep the liquidity to a hand that cannot enable warefare. Make the moral comeback

Traffic circles = less crashes. People need to think. We have hurt great people by throwing so many incentives to people that aren't honest and trusting. In fact the nations of the world are becoming very unstable. Only human beings that will hold themselves accountable should be on earth. Far too many disillusioned people and there whole talent and specialties and passions are out of order because leadership is satanic. It is not saying to this person. Thesenare simple rules now got get em tiger! It's saying shit like body bags for Israel and don't look too deep don't investigate, we are too big. You will make Great Judges come out and you better not cry and weasel out when this kind of heat pours in because you failed to be the only thing any Government official really should be. A TRUSTEE. The lowest and most humble of government position today. Do you understand? You will and this is no joke, a hand will come down if this isn't in the accord. I've never read a religious book btw. Just some scripture. That stuff is ok I get it but people have gone way wrong there too. That is another bad omen for all of you. You better listen when some people speak or act. They mean well. And there's plenty that this country has overlooked.. Too much dishonesty, not enough pride, too many weapons, not enough proper upbringing. Humble, obedient. That's how money gets good. No usury. Membership fees. Remember?

I imagine that's a big part of why the establishment hates bitcoin and other cryptocurrency, they can't tax it.

Standard currency managed to function just fine despite that "fatal flaw". You'll notice that while the value of a cryptocurrency is quite volatile in the beginning, as it sees wider use and starts to develop into an economy of its own, the price begins to stabilize.

No, I've been turning off talmudvision series as soon as they start pushing racemixing in your face for a while now. And if you think that series has anything important to convey you're the fucking idiot.

Ofcourse the kike bankers are gonna co-opt the new digital currency, nobody with a clue about the JQ should be surprised by that.
Even if it was a cryptocurrency they didn't make themselves or have direct control over they could easily take it over by just pouring their fiat dollars into it and buy up half the coin supply.

And Btw billy barter machines still allow oversight commission, and exchanges, but your barter machine money is basically worthless with out a chipped id card like identification, drivers license. Add the tech. You could print 1000 billion billy bucks off your machine, but they are worthless unless they are accredited and authorized under contract electronic verification. All those guys that used to love running around chasing ticker tape can walk around in neat uniforms without guns and be verification officers. With body camera on them. See what you have done. Another lesson. We are not supposed to be culture destroyers in some frankinfuter pipe drea. It's fucked things up for Whitey bad. And Whitey is mad.

you should've turned it off after literally having a female muslim for no other reason than having a female muslim.

Bitcoin is backed by what all currency should be backed by: an upper limit on the amount of currency available, i.e. scarcity

You're partially correct, since obviously FRNs have no fixed-metal (or fixed-anything) backing. But they do have one important attribute: you are guaranteed to be able to pay taxes with them, and even if you evade all taxes, you certainly know someone who needs to pay taxes and thus FRNs are guaranteed to have some value to them in the future (even if diminishing).

You would also be correct to point out that a person's tax liability can be predicted with accuracy only a few years into the future, so this "backing" is unstable rather than fixed. In other words, I may know that a dollar will pay for 1/10,000 of next year's income tax, but I am unsure about the year after that, while a note backed by an ounce of silver will still be backed by an ounce of silver in ten years. This much I concede.

But the flip side of this argument is that there is a world of difference between being able to predict the value of a currency-unit a year in advance (FRNs) and being unable to predict its value as early as tomorrow (cryptocurrency). It's unavoidable that FRNs have that advantage, simply due to their "legal tender" status, i.e., acceptance for paying taxes.

Now, if someone created a derivative cryptocurrency that combined BitCoin with forward-contracts or futures/options, then I could believe that might stabilize the value enough to be usable for day-to-day transactions (and maybe even a long-term store of value), but I have yet to see that innovation in the cryptocurrency marketplace.

You're correct that a fixed supply is necessary, but you're wrong for characterizing that as "backing." Being backed means a guaranteed exchange-rate in terms of some fixed quantity of tangible wealth, like an ounce of silver or a bag of corn. Stability requires both because stability occurs when price-equilibrium is reached, and equilibrium is a function of both the supply and demand. The limited supply takes care of the first, but backing is required for the second, so without that backing–that fixed exchange rate–there can be no (predictably) stable equilibrium and thus the value will fluctuate unpredictably.

Mr. Robot is 100% KIKE. There are Jews coming out of the woodwork with that motherfucker.

First, it's basic bitch 'hacking'. The consultants are 100% Jews. You saw that in the lead up to this season with the 'making of' episode.

Main character, Jew name, mentally retarded, crazy (but that's cool goys) bug eyed Jew as the hero.

Perversion everywhere starting with the Jew favourite, black 'bull' defiling the troubled white girl to Asian tranny. All sickness out of a sick Jew mind.

There's an after show that talks about it and even it, is hosted by a Jew.

If you're impressed by this, you're a fucking moron who knows anything about anything and deserve to be raped by a nigger then curbed stomped.

As for last nights plot, what would happen if such a thing were done… see also; know nothing about anything you small fucking child, THAT would result in the collapse of the society. You would be doubling the money supply and thus halving it's value. So the pension fund in Norway and the Swiss National Bank who bought stocks and the Japanese government whose holding Treasuries and the Chinese real estate fund, just got a 50% haircut on their investment. What do you think they would do? TIDAL WAVE of selling ie CRASH. So no, this wouldn't save the economy but like 'hacking' these perverted kikes have no fucking idea.

But then this bitch ass phony is doing what all lazy fucks do who spent all their time doing drugs and pervert shit and realize their Jew homework is due the next day and that is, steal the plot out of the headlines. That is, Canada and Britian and Estonia and a couple other fuckers who announced over the past 1-3 years that they will introduce their own form of digital money. But that isn't what this is, so the show even got that wrong. This is a parallel money introduce and controlled by a private corporation made legal tender and at a rate of 1to1 with the dollar. Thus, increasing the money supply and massively devaluing the dollar from the increase in inflation.

No and neither should you.

I stopped watching after Season 1 and only the first episode of Season 1 was really worth watching. It's disappointing. It could have been much better.

Why would someone bother sliding a thread when they can just ignore it. I was worried the mr robot shills had returned, but you appear to be a normal faggot, not someone advocating that we watch a shitty show with ugly poor actors and a laughable plot.

i watch this show, its entertaining

i was calling bitcoin a weapon of the n-w.o back in 2014

the thing is very simple, an [[[orquestated]]] synchronized internet shut worldwide, will kill any electronic coin fro what matters.

So as a concept is good but not worldwide, that's giving [[[them]]] too much margin to co-opt the coin into something sinister.

In every cryptocurrency someone is holding the key, making it not crypto at all.

Cuck yourself

Every cryptocurrency has a public ledger, the only way to stay truly anonymous is with dark wallet.

Most people in this thread are fucking retards.

Thanks for the input redditfaggot.

citation needed
People have been saying this nonsense for years

There is no rush to increase the blocksize, everything is working fine. Segwit is coming in a month or two. Also, there's no immediate need to anonymize Bitcoin. If needed the devs can easily make it anonymous, besides there's already dozens of tumblers.

This is just retarded. Implying kikes own most of the Bitcoin. Kikes are a small % of the global population and they can't manipulate or control Bitcoin like fiat/Federal Reserve/etc.

Bitcoin is owned by tech-savvy young white men.

I have 228 bitcoins

This is a thinly-veiled altcoin shilling thread. No shitty altcoin (also known as scamcoin) is going to replace Bitcoin. Look up "Network Effect"

Nobody is going to randomly decide to dump Bitcoin and hop on any of the shitty altcoins you listed. There's too much invested. Bitcoin is programmable money.

pic-somewhat-related me mining Bitcoin in 2012 on a shitty Radeon 7850

… and you're still considered small-fries buddy. Nakamoto's wallet holds 1,000,000 of the things and many others have been lost.

Personally, I don't care if Bitcoin does succeed. I'm holding some and it'd be to my advantage if it does.

I, however, am VERY skeptical of the Core Dev team. I work as a programmer and have some mid-size businesses that I would recommend Bitcoin acceptance to - IF they raised the blocksize. 2MB will not cripple the network, that's rubbish. Even 8MB would be managable.

Their reasons for not raising the block-size are not satisfactory. Blocks might not be completely full right now, but the fact that they're nearing max is disincentive for adoption because when they ARE FULL there will be problems. A hard-fork will also be required to up this cap, so it'd be in their interest to develop a solution to this now (if they truly had Bitcoins interest at heart).

Also, get fucked generally, you dumb cunt.

………….I can't think of how to reply to how dumb this comment was.

pick 1

They are raising the blocksize you dumb fuck.
>bitcoincore.org/en/2015/12/23/capacity-increases-faq/

You're just an angry, bitter person in general who has no idea what he's talking about

source for pic-related: bitcoinprivacy.net

Can't tell if you're baiting or just retarded… did you even read the bottom of the picture you attached. 56% of all existing Bitcoins are in a mere 6860 wallets. This is clear evidence of its monopolization.

Also, my point was that 0.00001% IS SUBSTANTIAL. It might seem like a small figure, but within the context of available supply, it is a whole lot.

Clearly, your defense of Bitcoin is based on your holdings. You're protecting your investment.

If Bitcoin does succeed, that's fine. It works in my favor too (I'm also holding). However, based on its monopolization and the relucatance of the Core Team to increase the block-cap (SegWit doesn't increase blocksize necessarily, it just allows more to fit in), I'm looking elsewhere.

You're still a faggot. Cunt.

explain please

They did it with gold. I think you just don't understand how economics works. With any currency, if there is no way of countering it, most will end up in the hands of very small amount of people.

Bitcoin has the same problems any commodity money has, mostly hording.

This is a problem because?

I have no idea what you're trying to argue here. First you say my 228 bitcoins are nothing, then you say a tiny % is huge

Bitcoin is held by many people, some are smarter than others and either took risks or had the money to buy more. Are you a Bernie Sanders commie or something?

No shit genius, that's the whole fucking point.

Good, I love it when retards buy into altcoins and get BTFO'd

case in point, every crypto not named Bitcoin, lol.

Funny that every bitcoin fag is literally indistinguishable from a kike. Your brain on libertarianism.

There have been recommendations and attempts from ex-developers fto increase the blocksize. At present, Bitcoin is capped at about 7TPS (Transactions/Second) with a 1MB blocksize. A 2MB blocksize would increase this to 14TPS, 3MB to 21TPS, etc, etc.

Blocks, at present, are sometimes hitting this capacity, thus slowing down the network and causing transactions to fail. It's also discouraging Mid-Size Businesses from adopting Bitcoin as a payment option due to the fact that increased adoption (and therefore use) will make transactions unreliable with the present Blocksize/TPS limit.

Core's solution to this is SegWit and Lightning Network. SegWit allows for more TPS to be fit into the blocks by segregating the Witness Data from the block (at maximum, this would give us 3.5MB blocks, but in most practical situations, it'd be around 1.5-2MB - double capacity).

As a short-term solution (and because SegWit is running very far behind schedule), users and devs were calling for 2MB (or more) blocks to be implemented. This (and much bigger) will be necessarily eventually anyway to support Transacting On/Off the Lightning Network (which will allow for Visa-Level transaction capacity). Lightning Network is not looking like it'll be available until at least next year.

Another issue is that most talk of this on /r/bitcoin is censored and deleted. The technical reasons for avoiding a blocksize increase haven't been satisfactory and it seems it's holding as is for economic/political reasons.

Then you should think about hosting it in a place with reliable sources of both.

If you think the (((bankers))) haven't got their hands all over Bitcoin yet, you're a naive fool.

Bitcoin isn't hosted like that mate.

Think of it as having the exact same file on every computer that runs a Bitcoin Node and this file containing millions of "Wallets" (called Addresses). To spend the content of a Wallet, a Key (called the Private Key) is needed. So despite the fact that, if you're running a node, you have everyone else's "Wallet" and "Transaction Data" on your computer, you cannot spend it as you don't have the Key required.

So far as any kind of monetary system goes, cryptocurrency truly is revolutionary. It really is the solution to the Fiat Jews.

you're late the game m8, supermoney already exists

Sound like an interesting idea but could you please make it more coherent? Right now your posts look like they were written by some spambot. Maybe make a picture, infographic style.

Stopped reading here. Moore's Law is dead, and we don't need to store every fucking coffee transaction on chain. The blockchain is already nearing 100Gb as it is, faggot, we don't need more transactions.

Get it through your thick fucking head Roger Ver cocksucker - Bitcoin is for SETTLEMENTS. You /r/btc cocksuckers want to disable anyone from running a node except high end data centres which ultimately will destroy Bitcoin.

It's not a great show, but you have to give it some credit for being significantly more "informed" on the hacking and technology scenes than 95% of other portrayals. They put at least some effort into it instead of having some fag spaz out on a keyboard for ten seconds to multiplex the firewall connection and steal the darknet password.

Oh, 100GB Blockchain, yeah that's atrocious! Not. Unlike you, I'm not a broke-ass, neck-beard, basement-dwelling faggot that can't even afford a 1TB hard-drive. I'll have you know I was one of the original developers of Bitcoin before Core took over and have over 300 confirmed commits and am one of the top-programmers in the entire Blockchain space. You are nothing to me but another faggot-ass queer dick-sucking Bitcoin fanboy. Actual anonymous and scalable alt-coins will wipe Bitcoin the fuck out with precision the likes of which has never been seen before in the digital space, mark my fucking words. Think you're going to make it big using Bitcoin as a settlement layer? Think again, fucker. As we speak, the alt-coins are gaining traction on almost every exchange available and will soon be seamlessly traded with each other through anonymous services like Bitsquare, so you better prepare for the Cryptostorm, maggot. The storm that completely wipes your Bitcoin wallet so that everything you hold is worth nothing. If only you could have known what unholy retribution your little “clever” investment was about to bring down upon you, maybe you would have held your fucking cash. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn bitch-ass, beta nu-male, startup-dick-sucking faggot, idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo .

...

I've never watched a single episode because I saw the trailer and I saw the jewish influence.

Pick all four, always.

...

This is probably why you have no friends in real life.

You don't get quality arguments here.

You get people angry they think the missed the Bitcoin train or too dumb to understand its significance

When you look at the pic I posted above, you see I mined basically one bitcoin every two weeks with a shitty $200 GPU.

I couldn't even be bothered buying a better GPU to mine bitcoin

Each of those bitcoins are worth over $600 today.

This makes a lot of you faggots really angry.

A lot of kikes too, paypal kikes, especially

I watched the price of Bitcoin rise to $1200 and then fall to $200 and I never sold

Sorry if you didn't buy when the price of Bitcoin was $200, you're just too fuckin dumb to see Bitcoin's future and since everyone from the poorest dumbest bone-in-nose nigger in Africa to the richest shitskin dunecoon oil prince posting pictures of tigers in his car has access to the internet in the current year, we have to suffer to read your low-IQ shit-bag posts

stay mad I'm worth $140,000 in bitcoin today for practically no effort, and probably far more in a couple years

Etherium has already hard forked due to a major exploit. Its years away from being useful.

This autistic myth persists despite the fact that 'ALL value is subjective. This is nothing more than a veiled appeal to authority because you need some daddy figure to come in and arbitrate. You fear anarchy because you are a child.

Well this "fatally flawed" successful experiment is worth $600 and, despite you pseudo-economic understanding of the real world, isn't going anywhere.

Not backed by anything? Try electricity.

TL;DR you are a faggot.

I've been incredibly critical of Bitcoin this whole thread.

I'd like to now clarify my position:
1. I think my claims to its monopolization are valid. More than half of those currently existing are in the possession of less than 7000 wallets (some individuals might have several of these wallets, making the monopolization even worse).
2. I think the Core Dev Team might be subverted. Their justifications for not raising the blocksize are not adequate from a technical point of view. This raise will have to be done eventually to support sufficient transactions on/off the Lightning Network anyway and would provide capacity increases in the short term while we wait for SegWit and Lightning. I suspect they're acting on economic/political incentives.
3. However, despite these criticisms, Bitcoin does indeed have the "Network Effect" which makes adoption of it by individuals and institutions more likely than with the alternative cryptos.
4. With sufficient adoption, mining would probably become less centralized. Core Team would probably also have to cave to transactional demands. If they do not, I think it is likely that they will be replaced.
5. If people bought Bitcoin now, while it's still affordable, it would minimize the problem of monopolization. Frankly, the early investors probably deserve to be wealthier than late adopters. $600USD now for something that might be worth $3K (potentially a lot more) is not a bad investment.
5. Cryptocurrency will be the future of currency. Bitcoin will probably remain "The Gold Standard", thus I'd recommend investing in it, at least partially (1/21000000 perhaps).
6. There is a possibility Bitcoin will fail. Thus, I'd also recommend investing in the alts (Monero, Dash, Litecoin, Ethereum) while they're still dirt cheap.
7. Almost all cryptocurrencies are seamlessly exchangable through services like ShapeShift.io and soon BitSquare (decentralized). It's likely that all cryptos will be accepted as checkout options eventually.

People on Holla Forums who dismiss Bitcoin and Cryptocurrency probably do not understand it. These people are probably dumb and don't deserve to be on-board with it anyway. Decentralised Cryptocurrency is the way out of the Fiat Banking system. It strikes the Jewish beast at its core.

So the way out of Jewish control is a currency controlled by few that is the single most traceable currency ever devised?

The old "you dont understand it!" bit doesnt work pal.

...

It's market cap is less than $10B mate. People who get in now could disperse this monopolization.

Most people holding mass amounts are, as someone else said, young white tech-savvy males.

In terms of traceability, it is still FAR MORE anonymous than any current fiat system.

Don't invest in crypto if you don't want to. Keep sucking Jewish fiat dick, I don't really give a shit. Cryptocurrency will be the future. Bitcoin has, historically, given huge returns and it is likely it will continue to do so. If you don't cryptocurrency's potential, you're probably a mid-tier pleb who doesn't really deserve to hold wealth anyway.

There's possibility of failure, hence my recommendation to buy the alternatives while they're cheap. They'll all be interchangeable anyway.

I honestly don't know what I was expecting.

(Continued)
Well, long story short, I tried this, got a miner and everything.

Turns out it didn't work, and I needlessly dropped $700 on a plan that was destined for failure.

I don't really know what I was expecting when it was sent to me from someone called "Chad Bush", huh?

It's not like they would ever let me order something online without sabotaging it, huh?

You guys were never actually planning on helping me, were you?

alright, fuck it, i'm done.

You can all fight this thing without me.

oh, I see… well, I guess I should have expected that.

AAAAAAAAAAAAAAAAAAAAAAAAA
what kind of fucking text is this?
I managed to almost finish it, but then the sally broncos and nickys dicks were too much

can someone translate?
is he advocating the end of dolar and start a labor backed money like hitler did?

you guys think hillary is messing with the postal service?

Anyways, you guys are welcome for all of the FREE help i've given you over the past 11 years.

(continued)

I guess I won't be around long enough to see this one through to the end.

I'm sorry that I wasn't born rich.

And I'm sorry that my enemies prevent me from getting a job.

(continued)

And I'm sorry that they also prevent me from earning money of any kind.

Hey, don't bother finding people over the internet, it's completely controlled by Mossad.

Meh. I toss $5 out of each paycheck into BTC. It's been a fairly reliable savings up to this point. The value of the BTC, were I to sell it all today, is way, way more than it would be had I put it into a bank savings account.

A lot of people are expecting some miraculous happening of "I put $10 in BTC and now I'm a billionaire!" Those people will die poor and alone.

(continued)

In case you haven't noticed, everyone you "find" over the internet is a mossad plant, right?

Because mossad knows that you are looking, and they want to infiltrate your institutions.

So, stop using the internet as a recruiting vehicle, because it is tilted against you on purpose.

So, don't bother trying to find me anymore, because we all know that you can't.

Right?

They won't let you find anyone but their actors and art students.

Ah, a new one.

They really are devious, aren't they?

It's not going to matter, guys…

They want me dead, and you can't stop them from succeeding.

they are just going to infiltrate trumps campaign, guys.

What if I told you that I was an ambassador?

fucking hell that's a fuck lot

why I didn't buy/mine a couple X years ago when I first heard of it?

I could buy a new PC with 5 of them

Is this more or less centralized than fiat money? just answer me this.
then we can argue if this is an issue at all or not

What is the most unhackable cryptocurrency we have yet?

Can't answer this as I'm actually not sure.

Only thing I can say in response to this is that the Market Cap is currently valued at less than $10B, which means it could still be dispersed.

Really fucking nice quads there. Got a bit of cummies on my screen looking at them.

Cryptocurrency is secured by hashing power (this is actually the main function of mining - to provide security). None of the major cryptos have been hacked - yet. To do so, a bad actor would have to control more than 50% of the hashing power (not impossible, but very unfeasible for larger cryptos).

If you meant to say "anonymous (v. "unhackable"), Monero is probably the most anonymous. They're around $10USD last I checked and though it will inflate infinitely, it does so at an incredibly slow rate once it reaches 21,000,000 coins (from memory).

My recommendation would be to set aside $2K or so. Buy one Bitcoin in case of its success and then invest the rest in Alt Cryptos. My prediction is that ALL cryptocurrency will raise in value, particularly if Bitcoin's monopolization becomes an issue.

No it is not less traceable you fuckwit. Tou're talking about a system where every single transaction you make can be traced back to you. There is no anonymity, every single purchase you make is tied to your wallet.

Crypto-kikes always claim a mile when they go a yard.

1. Wallets are generated anonymously. If you don't attach your name to your address (most people do not), you ARE anonymous.
2. Transactions cannot be censored.
3. You're a moron of epic proportions.

Bumping to point out kike's obvious disinformation attempt.

Crypto currencies have a halfway point where additional currency very quickly and sharply shoots up in requirements.
This is why the coin is only in the hands of a few, whoever goes first gets all the easy hashes, everyone after is days a hash.

Scalable crypto is impossible, not how the hashing system works.
Its like shoving more coats in a closet, really easy for a few, then harder, and eventually near impossible.
If you do try such a system, there are ways, it just may as well be simplified as being multiple algorithms instead of the switch, which is the same effectively, since they would be mined quickly regardless.

Your green is extremely accurate, but misses the blockchain issue, if you have the hold on half the network, you have control of it all.
Guess {{{who}}} has the computing power?

Normal currency has military force behind it.
Force is the only objective measure.

test

Is that supposed to be Paul Krugman?

Sorry dude, can't see it. You're banned there.

I agree with many of your points.

However, I think Layer 2-type networks (like Lightning) might work to enable scalability. Even if these operated as a (less secure) side-chain, it'd allow transactions to be placed on the second layer and (final values) consolidated later into the main layer. In practice, it could be like having two accounts: Savings and Spending.

Might be worth looking at TumbleBit if you haven't already. Hopefully Core Fags will allow its implementation.

The Blocksize is going to need to increase substantially to allow transactions on/off the L2 network. This is what irks me about Core Team. They seem completely disinterested in permitting this transaction size increase (for, what they claim, are "centralization concerns" - as though Bitcoin isn't already centralized).

I don't have a rebuttal to the Early-Bird Investor Capital problem. But I think Crypto is going to happen regardless, so I encourage people to get on board before it explodes.

The basic issue is that crypto coin has the pointed scarcity, if you can find a way to get around that, its just an inflationary fiat.
The original point was that it was a deflationary/stable fiat case.

X amount of crypto exists technically, therefore its should have some value that is asymptotic. THe issue is that a scalable method that is truly scalable and not just unlocking another fixed amount, breaks this.

Best plan as well is none of the current schemes and a new base algorithm, remember when the asic miners were made and they dropped the value as their architecture meant it was much easier to hash than the racks of radeons people had?

The early bird problem is exactly the issue, getting around it means helicopter money. Or just hoping you get your tiny pie piece and it works out.

Sorry, misinterpreted your "scaling" to mean from a Transaction Capacity POV.

My thought is that the first Crypto's (Bitcoin, Ether, Dash, Monero, etc) will become the "Gold Standard".

Once these have reached the point of monopolization, new crypto's (that are affordable for those that missed the boat - the normie plebs) will get introduced. These will initially have very-low value compared to, say, Bitcoin.

However, as more people start adopting and using these newly introduced crypto's, they will gradually climb in value. The effect will be a inclination towards dispersing crypto wealth slowly (based on usage/acceptance), while giving early adopters (those that hold cryptos presently) an immense advantage (theirs will be initially worth more). In my opinion, this very same thing is already happening with Bitcoin Vs the Alts. Bitcoin is steadily rising, but some of the Alts are gaining traction fast. They will probably still never be worth quite as much as Bitcoin.

I'm not opposed to this. Those that got in early, being progressive, probably do deserve to do better from it. But the effect. long-term, will be dispersive imo.

Sorry, I should add that the reason I see this as feasible is that it's incredibly easy to transfer between Cryptos.

Services like ShapeShift.io make it a breeze and I imagine this will eventually be made seamless.

At present purchasing with Crypto is usually a two-step process:
Alternative Crypto -> ShapeShift -> Bitpay.

My prediction is that this will become seamless - all background to the end-user.

The issue though with the tiered system is you at best recreate the existing valuing of currencies, weak and strong based on usage and acceptance.

At worst, you recreate the American banking crisis or modern day Ireland mints.
Not a good plan, and there still hasn't been a a reason to jump on, you're just saying like now, but with built in tracking and the ability to disprove a transaction. Same issue people have with moves to a cashless society (fun overlap between fiat and never credit under this).

Basically, the way I see it, the whole background will be more of an e currency thing as now with cards, but with a lot more tracking going on in their use.
Profiling, alerts, and automatic "enemy of the state" stuff.

Nah, the tracking thing will become a moot point. Completely cucked with things like Monero.

The advantage of Cryptocurrency is that (done properly) it's essentially uncontrollable - or at the very least, far more difficult to control/trace than Jew Money.

In regards to normies, as warned in the OP, it needs to emphasized that DECENTRALIZED crypto is required. Corporate/Government crypto will land us in the same crisis that we are in at present (with (((them))) having the ability to print and trace as they please).

They will try to get onto the crypto-bandwagon with something like FedCoin, marketing it as a "Cryptocurrency - like Bitcoin!". We need to do a RMS-style interject before that happens.

The issue with the decentralized system though is its not possible where having more power is more hashes.
Crypto currency by its nature inspires monopolies as shown by them all.
Further, its doesn't change the issue of blockchain and half controls.
The idea has some thought, but fails to make a name for itself.
THings to use, but it gives nothing as yet shown, to move over to.
Which is the issue, anything that does move is apt to be very sudden, and lead right to the issue of being centrally controlled and manipulated, but at this point you can't even be sure that you at least have coin in your wallet.

You're correct about crypto's inspiring monopolization by their nature. But, as mentioned, the alts will counter this (slowly) when the late-to-the-party people realize they hold nothing and are on an unfair playing fields. As these alts arise, a free-market will determine their value.

So far as transition process, I predict it will go something like this:
1. Bitcoin gains increasing merchant adoptance and gets traded against USD (Bitpay, for example).
2. Holding Bitcoin itself is no longer useless due to merchant adoptance (goods are now purchasable with it directly).
3. Bitcoin eventually rallies as a counter-currency to the USD (and other fiats).
4. Public realizes monopolization problem - too fewer (((people))) own too much Bitcoin.
5. Affordable alt-coins start to gain in value against Bitcoin.
6. New alts will be created for those that missed out on the early cryptos. These will also (very) slowly rise in value against both Bitcoin and the early Alts. These will be "pleb-coins", essentially.

It won't necessarily be as smoother transition as I'm making it out to be, but I think that will be the general process. Cryptocurrency will replace fiat. It will take a while, but it will happen. It's worth investing in Bitcoin (and especially the alts) now while they're still affordable.

The problem with that is the now!coins will defenitely not work in this system. Centralized, controlled,a nd old, they fit no one's agendas.
Great test cases though.

Again 1870s banking crisis.
Altcoins just make it happen all over again, but now in nanoseconds (figuratively probably more than literally)
People will rally for government intervention, just as they did with gold backed currency, at which markets will fuck over that backed crypto currency if it goes as being goods or resource backed, while we're back to the fiat case again.

Its much more that we arrive in this trap because the nature of the game declares it, much like how death is inevitable, but can be put off with increasing difficulty.

For someone with a bit of extra cash to invest, what's a good cryptocurrency to get in on? I was thinking of getting a few bitcoins and some user in another thread said it would be a good idea, because shit's definitely going to hit the fan soon and I want to come out on top.

My opinion:
Bitcoin
Monero
Dash (maybe)
and Ether (maybe).

Diversify your pockets. Even just one bitcoin still gives you a 1/21,000,000 share. The others are cheap and if they boom, you'll be doing well.

Cool, but how will I know when to cash out and how? Obviously things are going to be a whole lot different than now fairly soon but surely there's some general guidelines to follow when investing

I wouldn't cash out until SHTF.

If it doubles in value, sell half to recoup your losts so that you'll never be in the negatives.

The rest is basically free money that could be worth a lot if SHTF.

Cool, that all makes sense
How about mining bitcoins? I have a good GPU, is it too late to make any real money mining?

Personally, I hold some BTC. I'm far, far more hopeful about Monero, though. It's taking the cryptocurrency ideal to the fucking max, has a shit ton of "old" bitcoin people involved, none of this blockstream/core/censorship/disinfo bullshit that bitcoin is having.

Get the degenerates to start buying their drugs with Monero. You'll be doing humanity a huge fucking favor.

whoops. counter sage.

Solution:

Nationalize a cryptocurrency.

Decentralization and Nationalism go hand in hand. Cryptocurrency allows us to kill the international kike. Cryptocurrency is the a tool we need to embrace. We need a white nationalist currency.

Small, but important correction: you must pay your taxes in it. That's the whole point. If it were optional, if the state wouldn't insist on it, fiat would not work at all.

Taxes are anti-white.

If an EMP or some other weapons happens, there goes all your cryptoshekels. But your gold is still safe.

Yeah, I know what to trust.

Cryptocurrecies are only meant to be supplementary and situational.

bump

Daily reminder only retards and people new to crypto think any shitty altcoin has a chance of overtaking Bitcoin