Apparently doesn't matter to igot.com. Those fucker won't withdraw any of my funds.
The silk road sure didn't help its image but personally the rise of warehouse sized mining facilities basically ruined the bottom line and destroyed the currency.
[img]http://media.coindesk.com/2014/06/20140523_164302-e1404154208253.jpg[/img]
It was an astounding pyramid scheme.
It's only good for buying illegal goods and services on the dark web. So in a sense that still makes it worthless.
But bitcoin is the future guys!
It never mattered except to the lucky few that invested early and made off with all the real money. How ironic for something paraded around for being so [I]different[/I] and [I]better[/I] than traditional investments, was exactly like a real investment minus any kind of wealth backing or asset protection.
It was fools gold that suckered idiots into thinking they could make big money without putting in any of the work and finances that genuine real world investments require. Just another Get Rich Quick scheme that was a great success for those at the top and left everyone else with pocket change. How utterly [I]predicted[/I].
The only thing that came from this, as the article pointed out, was the technology involved.
A refined bitcoin system would make a universal currency not that far out of reach. "Credits", anyone?
Bitcoin is irrelevant, Ethereum is not. Ethereum has the potential to become [i]the[/i] platform for IoT.
[QUOTE=Map in a box;50267547]A refined bitcoin system would make a universal currency not that far out of reach. "Credits", anyone?[/QUOTE]
GNU and Inria are working on something called [url=https://taler.net/]Taler[/url], which seems like a solid electronic payment system for people who aren't cryptolibertarians.
[QUOTE=pentium;50265791]It was an astounding pyramid scheme.[/QUOTE]
It doesn't fit the definition of [URL="https://en.wikipedia.org/wiki/Pyramid_scheme"]Pyramid Scheme[/URL].
In one of those you are paid for getting other people into the scheme.
In Bitcoin you gain bitcoins by having your computer device (well technically you need an ASIC nowadays) make them.
You don't get anything for introducing other people to bitcoin.
[QUOTE=DrTaxi;50267775]GNU and Inria are working on something called [url=https://taler.net/]Taler[/url], which seems like a solid electronic payment system for people who aren't cryptolibertarians.[/QUOTE]
Oooo. Might be time for me to put my anti-GNU sentiment for a bit, this is cool.
[QUOTE=Map in a box;50270334]Oooo. Might be time for me to put my anti-GNU sentiment for a bit, this is cool.[/QUOTE]
In what world would someone be anti-GNU?
[QUOTE=eirexe;50274711]In what world would someone be anti-GNU?[/QUOTE]
Viral licences are cancer imo.
[QUOTE=FunnyStarRunner;50265808][b]It's only good for buying illegal goods and services on the dark web.[/b] So in a sense that still makes it worthless.[/QUOTE]
Doesn't sound worthless to me.
It's only getting more and more relevant. The amount of money invested into bitcoin/blockchain companies is staggering.
Doesn't matter what news comes out. The network still runs with 0 downtime. 24/7/365.
bitcoin is the future, but only in a future where everyone's on the net all the time, like all those 90's scifi films
[QUOTE=icarusfoundyou;50275417]It's only getting more and more relevant. The amount of money invested into bitcoin/blockchain companies is staggering.
Doesn't matter what news comes out. The network still runs with 0 downtime. 24/7/365.[/QUOTE]
No downtime doesn't really help if it takes ages to confirm a single transaction
[QUOTE=icarusfoundyou;50275417]It's only getting more and more relevant. The amount of money invested into bitcoin/blockchain companies is staggering.
Doesn't matter what news comes out. The network still runs with 0 downtime. 24/7/365.[/QUOTE]
credit card companies companies can process hundreds of transactions in the time it takes Bitcoin to process one
[QUOTE=The freeman;50275530]No downtime doesn't really help if it takes ages to confirm a single transaction[/QUOTE]
Bitcoin is one project caught in a bit of development hell. There are dozens of other projects out there--I counted them all once and there are roughly 3-5,000 cryptocurrencies in existence. A lot of projects stall, a lot of projects are dumb, but there are a few diamonds in the rough.
I keep a blog where I find really shitty cryptocurrencies: [url]http://cryptolonography.tumblr.com/[/url]
The blockchain idea is completely revolutionary and there is no way it will not factor into different parts of our life. For a project that is only about 7 years old, it still has a long, long way to go.
[QUOTE=icarusfoundyou;50275803]Bitcoin is one project caught in a bit of development hell. There are dozens of other projects out there--I counted them all once and there are roughly 3-5,000 cryptocurrencies in existence. A lot of projects stall, a lot of projects are dumb, but there are a few diamonds in the rough.
I keep a blog where I find really shitty cryptocurrencies: [url]http://cryptolonography.tumblr.com/[/url]
The blockchain idea is completely revolutionary and there is no way it will not factor into different parts of our life. For a project that is only about 7 years old, it still has a long, long way to go.[/QUOTE]
plus all the research IBM, Intel etc are putting into it
it has some pretty neat applications outside of bitcoin as well
[QUOTE=Conna;50267627]Bitcoin is irrelevant, Ethereum is not. Ethereum has the potential to become [i]the[/i] platform for IoT.[/QUOTE]
I'm pretty sure you mean dogecoin
[QUOTE=WhyNott;50275085]Viral licences are cancer imo.[/QUOTE]
They are needed.
dumb me all you want, but by using gpl v2 you allow free software to be used for non-free purposes
[QUOTE=icarusfoundyou;50275803]Bitcoin is one project caught in a bit of development hell. There are dozens of other projects out there--I counted them all once and there are roughly 3-5,000 cryptocurrencies in existence. A lot of projects stall, a lot of projects are dumb, but there are a few diamonds in the rough.
I keep a blog where I find really shitty cryptocurrencies: [url]http://cryptolonography.tumblr.com/[/url]
The blockchain idea is completely revolutionary and there is no way it will not factor into different parts of our life. For a project that is only about 7 years old, it still has a long, long way to go.[/QUOTE]
Its been in development hell since it started gaining traction though. Transactions have taken a while to confirm since 2010/2011, but nobody noticed or cared since there weren't enough transactions going through to matter.
The blockchain is a neat idea for things outside of currency but Bitcoin itself is a nightmare.
[QUOTE=The freeman;50277414]Its been in development hell since it started gaining traction though. Transactions have taken a while to confirm since 2010/2011, but nobody noticed or cared since there weren't enough transactions going through to matter.
The blockchain is a neat idea for things outside of currency but Bitcoin itself is a nightmare.[/QUOTE]
It still works though. It's just not ideal for extremely fast or small transactions.
It sure as fuck beats the hell out of waiting 2 weeks for money to move across borders.
In any case, now that the Panama papers have hit there will most certainly be an interest in cryptocurrency. Keep in mind that barely of the Panama papers have even been reported on yet.
[QUOTE=Handsome Matt;50279845]steam literally just added support for buying games with bitcoin
i wouldn't say bitcoin is dying or is insignificant at all and I don't understand the circlejerk in this thread saying so[/QUOTE]
For some reason most people are responding that the [I]investment[/I] (or mining) potential doesn't matter anymore since its so infeasible, not the actual currency itself. The currency itself is alive and well, and like you said, cropping up everywhere.
Considering it's one of the most (if not the most) valuable crypto currency, yes, it matters a lot. Especially considering stores are adapting to accept it as a currency
[QUOTE=Trumple;50279876]For some reason most people are responding that the [I]investment[/I] (or mining) potential doesn't matter anymore since its so infeasible, not the actual currency itself. The currency itself is alive and well, and like you said, cropping up everywhere.[/QUOTE]
Because its hip to not understand advancements in technology and call things a ponzi scheme because you didn't invest early on and make tons of easy money.
I get that there is some hilarity behind bitcoin and the community (especially the trash that post gifs of rockets flying into outerspace and post "to the moon" shit every 5 seconds); the but blind hatred of the technology itself is pretty strange. Especially since most people who actively hate it don't even understand what it is.
It also proves the notion that someone can affect the world via the internet while remaining 100% anonymous; this alone has huge ramifications in terms of human rights, politics and many, many other aspects of the world.
I think bitcoins are stupid but fuck, I sure would love a USB that has 1000B on it :v:
[QUOTE=Satane;50280743]how has the fact that you cant print money at home anymore ruined the currency?[/QUOTE]
Nothing really 'ruined' it in those terms. People are just angry that they didn't get in early on--which is why they call it a pyramid scheme. I suppose it is a pyramid scheme if you're willing to call Microsoft, Google & Apple stocks a pyramid scheme.
What has slightly ruined it are the two opposing groups of turbonerds who can't come to a consensus on whether to expand the blockchain size.
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