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thank god central banks can't debase bitcoin, just imagine the price instability
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Jun 20, 2021 01:03
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thank god exchanges can't lend out your bitcoins and create bubbles, just imagine something something tether
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Jun 20, 2021 01:04
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what a visionary satoshi nakamoto was, though. more concerned about the security of the exchange rate than the security of exchanges he managed to devise a system that produces neither
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Jun 20, 2021 01:06
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SubG posted:thank god central banks can't debase bitcoin, just imagine the price instability https://nakamotoinstitute.org/mempool/bitcoin-is-not-too-volatile/ SubG posted:thank god exchanges can't lend out your bitcoins and create bubbles, just imagine something something tether https://casebitcoin.com/critiques/bitcoin-is-pumped-by-tether SubG posted:what a visionary satoshi nakamoto was, though. more concerned about the security of the exchange rate than the security of exchanges he managed to devise a system that produces neither Wrongfor10yrs LOL fucked around with this message at 01:12 on Jun 20, 2021 |
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Jun 20, 2021 01:08
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SubG posted:what a visionary satoshi nakamoto was, though. more concerned about the security of the exchange rate than the security of exchanges he managed to devise a system that produces neither how dare you imply that satoshi wasn't a genius alien from the future
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Jun 20, 2021 01:09
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drat, seraph seraphin on us again you also are gettin nutjobs on r/buttcoin shilling in the most shillproof community on reddit
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Jun 20, 2021 01:10
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if it's a good explanation you should be able to write it down instead of outsourcing it to random other idiots on the internet.
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Jun 20, 2021 01:11
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kw0134 posted:if it's a good explanation you should be able to write it down instead of outsourcing it to random other idiots on the internet.
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Jun 20, 2021 01:12
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Wrongfor10yrs LOL posted:https://www.lynalden.com/misconceptions-about-bitcoin/ https://i.somethingawful.com/forumsystem/emoticons/emot-frogout.gif
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Jun 20, 2021 01:13
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lol the same tired arguments that eventually revert to "nah nah i have number go up" except when it goes down
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Jun 20, 2021 01:14
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@Seraph: what would convince you that you're wrong?
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Jun 20, 2021 01:14
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ultrafilter posted:@Seraph: what would convince you that you're wrong? 1. Bitcoin has a lower hashrate than it does today 2. Bitcoin has fewer nodes than it does today 3. Bitcoin processes less average daily volume (by wealth) than it does today 4. Bitcoin development ceases https://www.youtube.com/watch?v=DjYbsq3FXfM
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Jun 20, 2021 01:17
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Wrongfor10yrs LOL posted:3. Bitcoin processes less average daily volume (by wealth) than it does today
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Jun 20, 2021 01:18
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bad news about the hashrate part
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Jun 20, 2021 01:19
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SubG posted:bad news about the hashrate part quote:five years from now
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Jun 20, 2021 01:22
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The problem here, at the most fundamental level, is that money is such a politically-loaded concept. Money is a tool and a technology, nothing more. There is no inherent property of money that dictates that it must be managed and controlled by national governments. The only reason that has traditionally been the case is because for the past 7,000 or so years, the only way to maintain the integrity of any wealth ledger is to leverage violence (or the threat thereof). The advent of Nakamoto Consensus changed that reality - rewrote the rules. We no longer require guards at the temples to protect the ledger, because it no longer needs to be centrally managed.
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Jun 20, 2021 01:25
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in the time it took you to post that the hashrate went down by ~2 EH/s
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Jun 20, 2021 01:25
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SubG posted:in the time it took you to post that the hashrate went down by ~2 EH/s Bitcoin's security is well within the same order of magnitude it was 3 months ago. Bitcoin today has a level of network security that enables it to resist coordinated attacks from multiple national governments working together. That's all that's necessary to maintain the integrity of the ledger. This will continue to be the case until we are no longer using ledgers at all (this is an end of civilization scenario).
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Jun 20, 2021 01:28
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the world is only 6000 years old get this heretic out of here
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Jun 20, 2021 01:30
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Wrongfor10yrs LOL posted:The problem here, at the most fundamental level, is that money is such a politically-loaded concept. Money is a tool and a technology, nothing more. There is no inherent property of money that dictates that it must be managed and controlled by national governments. The only reason that has traditionally been the case is because for the past 7,000 or so years, the only way to maintain the integrity of any wealth ledger is to leverage violence (or the threat thereof).
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Jun 20, 2021 01:32
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"One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we've been taken. Once you give a charlatan power over you, you almost never get it back." -Carl Sagan "The truth may be puzzling. It may take some work to grapple with. It may be counterintuitive. It may contradict deeply held prejudices. It may not be consonant with what we desperately want to be true. But our preferences do not determine what's true." -Carl Sagan
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Jun 20, 2021 01:33
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the only way bitcoin could fail is if the hashrate goes down also, the hashrate doesn't matter lol imagine thinking it matters oh god literally 20% of the hashrate has evaporated literally today
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Jun 20, 2021 01:34
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Jun 20, 2021 01:34
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the only way bitcoin can fail is if the hashrate goes down *20% of the hashrate evaporates* i didn't mean today
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Jun 20, 2021 01:35
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so you're telling me that this person has been wrong for 10 years?? that's impressive
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Jun 20, 2021 01:36
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SubG posted:the only way bitcoin could fail is if the hashrate goes down continually for 5 years straight
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Jun 20, 2021 01:38
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Boxturret posted:so you're telling me that this person has been wrong for 10 years?? that's impressive
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Jun 20, 2021 01:39
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Boxturret posted:so you're telling me that this person has been wrong for 10 years?? that's impressive This poo poo sure hasn't aged well: https://www.somethingawful.com/news/attack-of-bitcoins/1/ Nor will any of the posts SA nocoiners make today.
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Jun 20, 2021 01:39
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don't you see? sure the hashrate is at zero but on march 4th 2023 it jumped up slightly so I'm still right, bitcoin is alive and well 
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Jun 20, 2021 01:41
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Boxturret posted:don't you see? sure the hashrate is at zero but on march 4th 2023 it jumped up slightly so I'm still right, bitcoin is alive and well I think you mean March 4th, 14 AB (after Bitcoin)
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Jun 20, 2021 01:43
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the space shuttle challenger didn't fail. it exploded, but it didn't explode continuously for five years straight
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Jun 20, 2021 01:45
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Wrongfor10yrs LOL posted:If five years from now, one or more of the following are the case: Are you gonna toxx
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Jun 20, 2021 01:47
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Wrongfor10yrs LOL posted:Impressive, and also, hilarious. The best part is not that SA has been wrong about Bitcoin for ten years, but that many of you will probably continue to be wrong about it for ten more, even as you watch it consume this world. Since it currently takes up the energy of Argentina yes it will eventually consume this world
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Jun 20, 2021 01:48
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Alan Smithee posted:Are you gonna toxx Alan Smithee posted:Since it currently takes up the energy of Argentina yes it will eventually consume this world
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Jun 20, 2021 01:51
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Wrongfor10yrs LOL posted:Seems a bit superfluous at this point in our relationship, does it not, SA?
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Jun 20, 2021 01:54
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Jun 20, 2021 01:56
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I'm comfortable leaving it to time to determine which one of us is the clown in this scenario. It's been working out just fine for me for the past six years here.   You can't outmeme me, acolyte of fiat slavery.
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Jun 20, 2021 01:59
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Columbus wasn’t a genius, he was a cruel and greedy get rich invader who fomented genocide through spreading disease and enslavement.
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Jun 20, 2021 02:21
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DominoKitten posted:Columbus wasn’t a genius, he was a cruel and greedy get rich invader who fomented genocide through spreading disease and enslavement.
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Jun 20, 2021 02:22
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This thread really attracts the top goon minds.
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Jun 20, 2021 02:24
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