Bitcoin

[sweeney]

Bad part is a lot of people are saying with bitcoin and the others like it, that aren't quite as popular or worth as much money, is it will slowly degrade the worth of the dollar on the global market.

 

[Stan's Dad]

I just spent the last 2 hours watching videos and learni ng about this. Crazy, ive never even heard of this before.

you must live under an actual rock

 

[guywhofishes]

- - - Updated - - -

now’s your chance guys!!!

 

[Bfishn]

Down she goes, has almost lost 50% of value in last few days, below 11k.

 

[Captain Ahab]

Congrats to the folks that made money, but the thing scares the crap out of me.

 

[Bacon]

Down goes Frazier.

 

[WormWiggler]

found this today, no idea if it is accurate, true, or jibberish

Lets clear out few things based on whats happening today.

1) The price drop has nothing to do with anything. This is a standard Quarterly Ethnic cleansing of all noobs who came to double their money in a month. We see 30-40 % correction regularly. If you can't stomach it .. GTFO

2) Roger's Shitcoin is nothing more than a centralized pump and dump scheme. Its led by some really shady people and has actually never been battle tested. If it didn't have Bitcoin in its name then it would be trading at 5 $.

3) But we do need to recognize that we have a serious mempool issue. We can't honestly preach people that they can buy fraction of Bitcoin or that Bitcoin can solve problems in Venezuela if it bloody takes 30 $ to send a 5 $ worth of Bitcoin.

There have been studies which show that doubling the Lane size simply doubles the traffic. That will happen here too if we increase the blocksize. But problem here is that we need to survive for 2 years till we have proper long term solution which has been tested like we did for Segwit.

I work in Tech startups as a developer. I supported the Core team over the whole 2X crises because it seemed like a hostile takeover by others over the repo and Dev team. But we need to recognize that ground reality in last 6 months has changed. We have 10X more people now. I have a complete crypto Boner for LN right now but honestly if I was working on a startup which was growing at 10-20X per year and I said that a scaling solution would come in 2 years .. I would be fired the same day.

As a developer, 2nd layer solutions make complete sense to me. Its like Horizontal vs Vertical scaling but at what mempool size do we realize that we have a problem which we need to address.

Rant Over.

Edit: To the kind soul who gave me Reddit Gold. Thank you , I don't really deserve it. I actually feel ashamed. I have been part of this community from Early 2013 without any contributions. I have not even looked at BTC codebase properly. Learning on LN starts today.

 

[JMF]

found this today, no idea if it is accurate, true, or jibberish

Lets clear out few things based on whats happening today.

1) The price drop has nothing to do with anything. This is a standard Quarterly Ethnic cleansing of all noobs who came to double their money in a month. We see 30-40 % correction regularly. If you can't stomach it .. GTFO

2) Roger's Shitcoin is nothing more than a centralized pump and dump scheme. Its led by some really shady people and has actually never been battle tested. If it didn't have Bitcoin in its name then it would be trading at 5 $.

3) But we do need to recognize that we have a serious mempool issue. We can't honestly preach people that they can buy fraction of Bitcoin or that Bitcoin can solve problems in Venezuela if it bloody takes 30 $ to send a 5 $ worth of Bitcoin.

There have been studies which show that doubling the Lane size simply doubles the traffic. That will happen here too if we increase the blocksize. But problem here is that we need to survive for 2 years till we have proper long term solution which has been tested like we did for Segwit.

I work in Tech startups as a developer. I supported the Core team over the whole 2X crises because it seemed like a hostile takeover by others over the repo and Dev team. But we need to recognize that ground reality in last 6 months has changed. We have 10X more people now. I have a complete crypto Boner for LN right now but honestly if I was working on a startup which was growing at 10-20X per year and I said that a scaling solution would come in 2 years .. I would be fired the same day.

As a developer, 2nd layer solutions make complete sense to me. Its like Horizontal vs Vertical scaling but at what mempool size do we realize that we have a problem which we need to address.

Rant Over.

Edit: To the kind soul who gave me Reddit Gold. Thank you , I don't really deserve it. I actually feel ashamed. I have been part of this community from Early 2013 without any contributions. I have not even looked at BTC codebase properly. Learning on LN starts today.

How many wedgies and swirlies does one have to receive before he can understand that?

 

[Bacon]

What's to prevent hackers from clearing out accounts whenever they feel like it?

 

[Rowdie]

What's to prevent hackers from clearing out accounts whenever they feel like it?

Maybe the same firewalls protecting banks from being robbed electronically?

 

[DirtyMike]

Maybe the same firewalls protecting banks from being robbed electronically?

Only problem is people storing their wallets on their own computer.

 

[5575]

This made me chuckle. Bitcoin baby!

 

[Bacon]

https://www.cnet.com/news/bitcoin-exchange-nicehash-loses-millions-to-hackers/. Hmmm.

 

[westwolfone]

Bitcoin was invented to buy illegal things on Silk Road.

I believe the guy that founded Silk Road is already in prison.

 

[Allen]

Bitcoin was invented to buy illegal things on Silk Road.

I believe the guy that founded Silk Road is already in prison.

Yep, he's doing life.

https://www.usatoday.com/story/money/2015/05/29/ulbricht-silk-road-sentencing/28072247/

 

[Account Deleted]

I haven’t invested one red cent in this thing and I still feel like I need to take some antidepressants. Any of you guys on suicide watch today? How do you ride that train man?

 

[701FishSlayer]

$8615.00 as of today

 

[HomeSlice]

was at 6k lastweek. Did any buy on the dip?

 

[tikkalover]

Not me, I've lost enough in my 401K the last 2 weeks. ;;;;;;;

 

[westwolfone]

was at 6k lastweek. Did any buy on the dip?

1st bit coin vending maching in state in fargo