What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

?

What is the fate of Bitcoin?

  1. Currency of the future

    30.1%
  2. Passing Fad

    69.9%
  1. HR Dept

    HR Dept Contributing Member

    Joined:
    May 31, 2012
    Messages:
    6,392
    Likes Received:
    833
    Anyone else make a killing off of ANS today?
     
  2. Commodore

    Commodore Contributing Member

    Joined:
    Dec 15, 2007
    Messages:
    20,570
    Likes Received:
    2,999
    yes, lots of ignorance

    a blockchain is just a crappy database

    what makes the Bitcoin blockchain powerful is immutability and the ability to write to it without permission

    that comes from the proof of work consensus mechanism and the distributed nature of the network, nothing to do with blockchain

    those features cannot be replicated without a massive amount of electricity and processing power
     
  3. Roscoe Arbuckle

    Joined:
    Aug 15, 2014
    Messages:
    481
    Likes Received:
    216
    look at whatever investment you want. I know you're still a child, but quit acting like you know what you're talking about. It's annoying.
     
  4. moestavern19

    moestavern19 Contributing Member

    Joined:
    Dec 8, 1999
    Messages:
    37,874
    Likes Received:
    1,905
    I'm sorry. I must have missed your seminar. Do you have a newsletter? Or are you just a bitch without a brain?
     
  5. Space Ghost

    Space Ghost Contributing Member

    Joined:
    Feb 14, 1999
    Messages:
    8,552
    Likes Received:
    733
    I will agree there is a lot of ignorance on this topic. Some of those who are very knowledgeable on the subject admit they dont fully understand the subject.

    I would not associate block chain with a database, however that could change. Bitcoin is more of a fancy spreadsheet and extremely limited. It could survive over the next decade, but it will not be the household name for block chain.

    Bitcoin's Proof of Work is an absolute waste of resources, however it proves people are willing to use this on a large scale. When people start using Proof of Work for actual purposes (such as the Golem project), its going to be huge. If Proof of Stake works, we will no longer need the distributive power consumption when its not needed.

    There is so much more to block chain than bitcoin.
     
  6. Roscoe Arbuckle

    Joined:
    Aug 15, 2014
    Messages:
    481
    Likes Received:
    216
    Pretty sure I am your father...
     
  7. Mr. Brightside

    Mr. Brightside Contributing Member

    Joined:
    Mar 27, 2005
    Messages:
    18,229
    Likes Received:
    1,039
  8. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    30,504
    Likes Received:
    1,724
  9. Commodore

    Commodore Contributing Member

    Joined:
    Dec 15, 2007
    Messages:
    20,570
    Likes Received:
    2,999
    one of the better technical explainer videos if you want to know how it works

     
  10. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    The guy did one of the most embarassing reddit AMAs of all time, it's painful how stupid he is.
    Gives out unbelievably bad advice to people, shows he doesn't have a damn clue about the worth of bitcoin or other stocks.
    His "investments" and "businesses" are utter trash and the best part is how he apparently avoided taxes on all of this and will probably be prosecuted in a while.

    Link spoilered because of reddit's annoying auto-post feature.
     
  11. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    This month has been brutal for all altcoins aye, just a regular price correction?
     
  12. TheMystery008

    TheMystery008 Member

    Joined:
    Jul 26, 2012
    Messages:
    4,557
    Likes Received:
    1,131
    I thought the correction happened a few weeks ago. I guess I was wrong.
     
  13. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    30,504
    Likes Received:
    1,724
    Lol. Ethereum is down over 50%, isn't it? Just watching intra-day swings in these things is funny. :)
     
    Yung-T likes this.
  14. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    Love reading the subreddits/forums dedicated to these coins. One day it's "ahh yeaaa to the moon baby, we all gonna have a garage full of lambos in five years", then when months like this one happens it's "ah f***, should've known this coin is crap, where are the developers??!!!".
     
    TheMystery008 likes this.
  15. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    30,504
    Likes Received:
    1,724
    Yeah, it's similar to the DotCom craze except I think that was even worse. Can't wait to see how this turns out when looking back about 10-15 years from now.
     
  16. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    30,504
    Likes Received:
    1,724
    Ethereum is dropping faster than Kardashian underwear. It's down another 15% to $158. It was $400 a month ago.
     
  17. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    And Bitcoin under 2k again.
    Those 7day charts for the top100 coins look brutal, you can do downhill skiing on them.
    https://coinmarketcap.com
     
  18. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    Btw, I hope GPU prices go down now. Unbelievable how many twats on forums are talking how they never made a profit with mining, but still bought dozens of cards.

    Sucks for every gamer that can't afford gpus currently, all because of a bunch of kiddies who didn't do the math.
     
  19. Mr. Brightside

    Mr. Brightside Contributing Member

    Joined:
    Mar 27, 2005
    Messages:
    18,229
    Likes Received:
    1,039
    Everything is Possible
    with Bitcoin.
     
  20. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    19,954
    Likes Received:
    2,277
    Nearly 250 now, this market is crazy.
     
Loading...

Share This Page