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How long have I been saying the same thing
OP: February 23, 2021, 04:57:11 PM
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How long have I been saying the same thing
#1: February 23, 2021, 06:16:31 PM
What do you think about Ethereum? It seems to actually have a purpose and value behind it?
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How long have I been saying the same thing
#2: February 23, 2021, 06:17:31 PM
I agree with BTC and DOGE being scams. I get an entirely different vibe off of ethereum looking into it.
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#3: February 23, 2021, 07:01:41 PM
ALL cryptocurrency is the same
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#4: February 23, 2021, 07:02:14 PM
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I agree with BTC and DOGE being scams. I get an entirely different vibe off of ethereum looking into it.

Defend ethereum. How does it scale
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#5: February 23, 2021, 07:50:17 PM
NRG you're right overall, but Charles' arguments are not - they are weak and baseless assertions. Ryan X. Charles left the industry - similar to other major players like Mike Hearn - many years ago (and I watched what they were doing closely as they exited as I thought it would collapse). My guess is there are warring factions and they fled to another side (also why their exits didn't hold as much weight as I had previously thought they would).

Tether is a scam (he's right there) - they've already been caught not holding cash in reserves, and it's a way to continually pump the price and/or prevent crashes.

BTC is not bitcoin, is not accurate - its currently as close to the whitepaper as anything, although I understand the argument its detractors make. It all hinges on the words in the subtitle... "peer-to-peer."

There were two major events that occurred years ago that are the arguments he's referencing although he doesn't go into any detail. The first was the introduction of segwit, and the second (which was related) was the blocksize (which continues to be a debate). But BTC/Bitcoin is virtually the same after all these years (with minor updates), where as his asserted main coins - bsv and bitcoin cash are complete scams. For years people tracked bitcoin cash's nodes and they were VIRTUALLY ALL in China, setup on VPS' (cheap servers). The bitcoin cash fork has been destroyed, but only continues being somewhat relevant because of the parties involved. 

Ryan's alignment with Craig Wright (who started the bitcoin cash and BSV bullshit) is absolutely dubious - he is a joke in the industry (and rightfully so) - he asserts he's satoshi with 0 proof (and proof with cryptography is extremely simple) - and he's a clear spook. The only reason he gained traction (temporarily back when he revealed himself) is because one of the core devs (Gavin Andresen) said he thought that Satoshi was Craig.

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After doing this the community ostracized him. Side note - he presented bitcoin to the Cartesian's in Aruba in the early days. You are not allowed to view links. Register or Login This has always been one of my large criticisms since day 1.

Back to the forks - forking open source software is easy, and is one of the beautiful things about it, but also one of the problems. By forking the coins, new coins are created (albeit under a different moniker, and not recognized by the main chain, custodians/brokers). Cash is simply a copy of the code. Similar to what litecoin is - although that was just a copy of the base code with a few adjustments (to make blocks clear faster, and with a larger total coin supply). One guy behind cash is Roger Ver, who I believe to be genuine and is a friend of a friend, but he's a useful idiot (multiple times over) as his endorsement of Mt Gox years ago (with it failing just weeks later) led to a lot of people losing a ton of money. I have met him in person, and believe him to be genuine and a hardcore libertarian (although personally I think that ideology is incomplete). One interesting note though -he's working with Kim.com on some things right now.

Finally in 2017 weird shit did happen. You are not allowed to view links. Register or Login I was involved in this debate, and felt the right party won the final implementation at the time, but shortly after, I wasn't so sure. Watching the power struggle elucidated ways in which the whole thing could be (probably is) compromised - obviously through people. One of the big companies pushing for, and winning the battle was You are not allowed to view links. Register or Login

Ironically one of the more prominent devs in the community is a guy name LDJ (not writing his name here). - You are not allowed to view links. Register or Login - we were friends online, but he lost me when he went full retard (or full actor) during this COVID insanity ("scared" out of his mind for his family, despite being presented with evidence to the contrary). He's also a hardcore catholic - kek.

Buddy of mine in the space tried to make updates to the code years ago and found the process to be completely insane (lots of politics and VERY slow moving). Knowing the guy, part of me was very pleased to hear this (as the idea is it's like cash, and what the devs do ripples out for the rest of time), but I do understand his frustration (and he ultimately got behind Dash - and they have an update structure that mirrors nation states with voting and enhancement reserves). 

Ethereum is an absolute joke. Back in the beginning it was hacked, or more appropriately an apps that was developed on ethereum revealed a flaw that allowed a hacker to siphon off millions of ETH). A very few large holders came forward and literally rolled the whole network back (why you have "ethereum classic" - those that chose to not do this). That revealed that virtually all ethereum is held by VERY few people (like less than a dozen), and that they were willing to lift there mask to ensure the bug was fixed without them losing "millions." To me that was against the whole idea behind crypto (we're talking before I had my come to jesus moment from here and other research). My buddy who's in crypto believes ETH will eclipse BTC one day, but I personally don't think he sees the big picture properly. Not to mention the major issues with scaling.

Clearly many groups are pushing for Crypto (it's basically mentioned in Klaus Schwabb's book the great reset). Personally I hope the Q team is right when they were pushing for gold/silver, and a new national currency reset. Btw I've presented with some top people at Goldman Sachs. These guys (and other banks) are fucking idiots on a lot of this stuff. 

I've elucidated my main criticisms (and positives) on Crypto at length in the past in other back/forth NRG and I have had if you want to look it up. Not sure if it was in one of the old forum incarnations though - goes into great detail.
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« Last Edit: February 23, 2021, 07:53:15 PM by DigitalDiogenes »

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How long have I been saying the same thing
#6: February 23, 2021, 08:09:55 PM
Everyone thinks elon musk is Tony stark
Really he's Obadiah Stane
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#7: February 23, 2021, 08:13:39 PM
85 percent of btc is held in 2% of coinwallet addresses. That Charles is being shilled relentlessly says all any critical thinker needs to know. That solving math problem for the nsa is somehow billed as the resistance to fiat is further proof of people's general dimness.

Btc will never be used as a mainstream payment system. The lightning network is mythological.  When they hit 4 digit per sec processing times wake me up. Its all a pump and dump. Clowns bragging about buying btc at 30k are gonna be transgender levels of sad soon
My conscience is clear. You've all been duly warned.
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#8: February 23, 2021, 08:28:08 PM
None of the issues raised here have been addressed since this was written


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#9: February 23, 2021, 08:33:14 PM
99% of coins out there now are definitely hopeless long term, technological advancements (theoretically) would encourage more innovative “coins” to topple the preceding ones. This is all moot though since it’s up to governments and/or financial institutions to design & adopt any sort of digital currency.

Long term I think physical cash is dead anyways, but will we even be going down the road that takes us to “cryptolandia”?
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#10: February 23, 2021, 08:36:52 PM
linear growth in the chain of blocks that make up bitcoin is resulting in exponential growth in the computation necessary to process and verify transactions: Transactions that used to take 10 minutes now take hours. With bitcoin transaction fees hovering above $25, a $5 payment now costs $30. This obviously is not a workable digital currency. What is most worrisome is the energy expenditure that verifying transactions now requires. The bitcoin network is reportedly consuming energy at an annual rate of 32TWh -- about as much as the entire nation of Denmark. Each transaction consumes 250kWh, enough energy to power an average Western home for nine days. China has become the dominant bitcoin-mining nation, with its provinces providing ultra-cheap energy to miners.
In short its too volatile to be a store of value, has no utility other than speculation and as will all pyramid schemes the early adapters wield ungodly leverage in the system
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#11: February 23, 2021, 08:37:45 PM
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99% of coins out there now are definitely hopeless long term, technological advancements (theoretically) would encourage more innovative “coins” to topple the preceding ones. This is all moot though since it’s up to governments and/or financial institutions to design & adopt any sort of digital currency.

Long term I think physical cash is dead anyways, but will we even be going down the road that takes us to “cryptolandia”?

All crypto has the same problem
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#12: February 23, 2021, 08:51:02 PM
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99% of coins out there now are definitely hopeless long term, technological advancements (theoretically) would encourage more innovative “coins” to topple the preceding ones. This is all moot though since it’s up to governments and/or financial institutions to design & adopt any sort of digital currency.

Long term I think physical cash is dead anyways, but will we even be going down the road that takes us to “cryptolandia”?

All crypto has the same problem

BTC is a fundamentally broken coin, no doubt. But in terms of the existence of any sort of digital currency, wouldn’t it just be an issue enough resources and commitment to bring it out?

The amount of control that having electronic tabs on everyone’s finances (moreso than now) is invaluable, cant think of anything more useless To endow a Slave populace with than an internet credit.
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#13: February 23, 2021, 09:08:20 PM
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99% of coins out there now are definitely hopeless long term, technological advancements (theoretically) would encourage more innovative “coins” to topple the preceding ones. This is all moot though since it’s up to governments and/or financial institutions to design & adopt any sort of digital currency.

Long term I think physical cash is dead anyways, but will we even be going down the road that takes us to “cryptolandia”?

All crypto has the same problem

BTC is a fundamentally broken coin, no doubt. But in terms of the existence of any sort of digital currency, wouldn’t it just be an issue enough resources and commitment to bring it out?

The amount of control that having electronic tabs on everyone’s finances (moreso than now) is invaluable, cant think of anything more useless To endow a Slave populace with than an internet credit.

Again. Crypto has no intrinsic value. Far too volatile to be a store of value.

Crypto has had 10 years to find a utility and failed.. tesla and btc will fail together and spectacularly.. musk realizes holy shit i can meme profits into existence since ya know his companies don't turn profit...  "gamestonk yall, also I'm buying 1.5 billion of btc", btc skyrockets.. not paypal doesn't and will not cash out btc...

The tesla price spike is half lying about his companies capabilities and half his btc profits...all from making shnooks make him the wealthiest man in the world...

Who's keen enough to discern why SpaceX is not 99 percent cheaper than nasa

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#14: February 23, 2021, 09:09:09 PM
I'm persuadable on this topic but no one has shown me utility or scale
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