Yes, it is what it obviously sounds like, an oxymoron!
Let's start simple.
A cryptocurrency is immoral by definition.
Because Bitcoin definitely supports corruption and crime by design !
With the blockchain, it's only the digital ownership (proof of work) traceable.
But that sort of digital ownership doesn’t lead to anyone’s phisical identity!
That blockchain ledger overloaded with encrypted files, does not link to anyone's personal identity !
It's only the Exchanges' database (if reglemented) which contain the owners' details. Easy to hack, among other things.
IP address can be faded by TOR.
As a result, although the bitcoin ownership is private, the blockchain transactions' strings are anonymous.
That makes the whole shit "pseudo-anonymous".
Cryptocurrency concept is rotten deep in its very heart.
Since it's inception, bitcoin has been thought of as an anonymous way to move money, so the law enforcement can't track illicit earnings.
Crypto cult plainly claim loud and clear in daylight like they want to tear apart the world's current order.
Fck the goverment is the slogan!
This has no future. It obviously can't have any.
To become legit, crypto need KYC and AML ...but they will cripple bitcoin of its main strength, full anonymity ...
The KYC and AML dilutes the crypto domain down to some common internet security.
Bye bye, crypto security heaven !
If the terminals hackable, blockchain is a sweet useless piggy in the middle !
(logic: If, blockchain/strong + exchange/wallet/weak = all weak)
No anonymity, no super internet security ...why do we need crypto for ??? We have FinTech...
We have FinTech, Digital - USDollar and the FedNow will bury the private crypto for good!
It's fkn inevitable.
From other perspective, The Blockchain is a great innovation which can serve excellent for the legal tender currency.
Of course, the naive, the crooks, the mental freaks and the anti-system anarchists will stay with the "private sector crypto"...
But history shows that plague - made of those obsessed delusional losers exploited by the crooks and tolerated by the society in the name of liberty - never exceeded a minor percentage of the global population...
As long as losers and idiots will exist, bitcoin won't totally die, but it will stay as a residual dirt forever.
But not real currency.
The problem is that the encrypted files can't be real currencies because they are fundamentally cancerous for the society by design.
A currency is incompatible with the untraceability feature !
The global finance is not a video game!
World needs real governments, real economies, real assets, real money.
Hey, maybe the bitcoin is not very well understood! Oh, you can bet it is poorly understood!
That's too bad, because you can sell misty sht only to stups!
People should know if bitcoin is something more than just a funny baloon which keeps swelling... and bursting periodically!
That can turn down some important potential for bitcoin, don't you agree?
Explain bitcoin for Homer Simpson! Otherwise it will remain forever just a medium of fraud and speculation.
Is not fair to say that you don't need to understand what bitcoin is, as long as it buys you a coffee, or a house.
Nobody sane use hazy stuff to buy a house! ...frenzy experiments!
Bitcoin should be definitely better explained in order to keep it from dropping periodically like a rock down to the minium rentability level.
The internet is full of explanations about what this thing is. But only swots, radicals, and shills.
What about experienced, reasonable, economists, ...sociologists?
Oh, ...oh, no bankers, no politic people! Because they are corruptible, hungry for more money and hungry for more power.
Paradoxically, they might support bitcoin... if something comes in for them. They're just schmucks to be manipulated by the crypto slick nerds.
...let me intricate more: 'If you can't explain it to a six year old, you don't understand it yourself.' — Einstein
Reasons for a thorough analysis.
I don't think the crazy hype does good to the bitcoin on long term.
Bitcoin is poorly understood but the hype can't replace argument.
The clownish blabbering from the fanatic believers it's rather discrediting for the bitcoin.
I think in contrast the hype, an honest thorough analysis can rather help bitcoin.
The noisy clowns, deranged freaks, the political-financial half-witts and the usual anarchists are not helping.
They never help.
They can't help.
They just scream and shout....:
Me, Tarzan, ...crypto is good, fiat is bad!
Chaotic freedom is good, government is bad! Booo!...
Crypto Transactions Oligarchic Market commissions are good, income tax is bad!
Crypto loan sharks are good, banks are bad!
No-state is good, no-police is good, no-military is good, ...taxes are baaad! Booo!...
...and me: BAM, ignored! Yeah, ignored, because stupidity and McAfee-radicalism is baaad!
In order to keep bitcoin from the painful periodic crashing down, it should be brought to light...
Hype can't replace arguments.
Illiterate pety fellas, they prolly still dream they will strike big some day starting with 2 pizza's money
and they will have their revenge against the government - the patsy for their miserable lives - and which they think is "a criminal organisation".
That's about all they can think of, that's all they can see...
Bad news for you, stups! Bitcoin is no more like small investing risk - big reward game anymore!
If you bet $1000 on pumpty-dumpty ₿ you'll get 5K if... if... only if ₿ will ever get to 50K! Uuuh, that's really optimistic ...if not insane!
What?! With 5K you can't even buy a second hand car!
So, it's a NO buy more than you can invest in a video game or a small gamble for some change and have fun.
But the noisy hype is really harming bitcoin mostly because the shills' insanity is actually scaring the normal people
who really want to invest in something new, but they are not sure they fully understand.
Then comes the bubbbbble, then the lamentable crash, ...and then the aggressive clowns, the crypto fancy jargon, booo! ...hm, fishy business, obviously!
The hype doesn't help anymore now ...because the bitcoin 19K-crash discredited the fake fanfaronade.
But still, don't underestimate the power of the "crypto show business"!
It's true, the people believe everything they're told, ok,
but I think the people who cares about their finances are much more critic thinkers than any other people, like religion or cult people.
Is not fair to say that you don't need to understand what bitcoin is, as long as it buys you a coffee, or a house. Don't fkn kid yourself!
So, how about logic arguments. Hype gone, now maybe it's time for some logic? ......No???
Enter general acceptance currency feature. Hehe, yes, again!
Is not fair to say that you don't need to understand what bitcoin is, as long as it buys you a coffee, or a house. No, no, don't kid yourself! It's not enough.
Because the fiat money trumps the cryptocurrency enthusiasm only because the long history of general acceptance,
which is one of the most important features of a currency, ...and which the crypto fans deliberately ignores.
We have just become aware of how much weights this "historical" inertia when the cryptocurrencies came out to confront the fiat.
But maybe is enough to say that you don't need to understand what the dollar is in order to use it!
Yes, because we use the fiat from "the begining of time"!
Oh, but that's not the case with bitcoin. Bitcoin doesn't have a long history of general acceptance ...to accept it at once, blindly, at the scale of the whole society ...it may take decades...
Understanding first, then trust.
The hate against the government is not enough to build trust on bitcoin.
And the most of the people don't buy hazy stuff.
It's just sane survival instinct! They just don't buy.
Unless they're degenerates or have nothing to lose...
And the early birds are still rich, but what about buying new bitcoin now?
Bitcoin is no more like small investing - big reward game anymore!
They say, give it time! Patience? For how long? 50 years? 100? ..."we're all dead on long term!" you know.
So, it's a NO buy more than you can invest in a video game or a small gamble for some change and have fun!
I invite people here to think here, not to scream against the current global order, ...we can see too many crypto fanatics out there, everywhere.
Come on, use arguments, genuine knowledge, and don't ignore reailty. Come on, try! Try harder! Again! ...OK
Reality it's a bitch and it will come after you and hurt you bad if you don't treat it right. The bitcoin's crash from 19K is self explanatory on that.
A lot of dead bodies down to 4000!
Whisful thinking also is damaging the bitcoin, ...and mostly your portfolio
Don't live in your hell, don't live in your passionate hysteric bubble ...even you can see few particular dudes, who made millions from speculations on
Or even if you put all of your life savings into bitcoin at 19K hoping to make it big at 50K, and all you can do now is pray, take medication and
booze... or you can go even low than that, like being Not-KpmGollum creature, ...ouph, traumatizing!
If we talk the main strengths is easy.
Definitely, the blockchain is the ultimate cyber security. That's really great for everybody.
But how does that aspect can help a currency ? Safety, of course!
But always remember, bitcoin is only relying on blockchain to function.
Blockchain is supposed to be the ultimate cyber security, but bitcoin pretend to be a currency... different sht!
Now from this point, here we go for the show. Here's few weak spots of cryptocurrency to discuss:
1. anonymity (medium for crime)
2. tuning the credit industry (compulsory shaping of the monetary system)
3. no inflation fallacy (the money endogenous origin of inflation misunderstanding)
4. vulnerable terminals (constant hacking on wallets and exchanges)
5. eliminating the third party fallacy (no-state, no-authority world concept it's obviously not realistic, ...enter the_oligarchic_transactions_fees_market as the wild new third party)
These are the most controversial and disputed. We should discuss mmore all this!
Because those aspects are so important that they might decide if cryptocurrencies will survive reglementations ...or not.
I invite you to bring your knowledge and logic.
(within CoC limits) Trivialities and obscenities are allowed on this thread, but not stupidity. Stupidity is worse.
BTW, I am aware this could generate a hate wave. If you want to join the irrelevant-reason-hate-wave just let me know!
One of the passphrase could be "fuck the government" ...just say it here and I promise you will get instantly ignored ...thank you. Hugs !
Welcome, Crypto Manipulation Era! ...cool!
Not even wolves are not what they used to be time ago on Wall Street! ...enter coyotes!
All sort of crypto frauds are gathering like clouds... yummy, yummy for financial media !
Lotta real money to be made for the financial media out of this crypto-crime-fraud mess!
Oh, what happened? No fundamental sht!
So pure speculations are still crippling this asset ...thing.
Pure scamming tool!
As long as this huge volatility will not decrease, investing in Bitcoin is very and extremely dangerous in my opinion. Mabe in next years there will be a higher liquidity and more players will sit at the table so no hidden surprises can occur.
I wait a position for bitcoin from the begin of this year but as price is moving now, for me it reflect somebody is free to run and move the Market at his will, clearing small players from the table. Because when many major players are at the table, no Big Player have the courage to do what we see now. When there are many Big Players at the table, every of them play with precaution because they know the others have similar power and they can be wiped quickly. So extreme volatility happen very rare.
I consider a relative safe trading environment the asset where I detect Cycles (accumulation/distribution). Prior to huge rocket-launch wich took place in 2017, Bitcoin was very nice. Price reflected a still presence of Market participants . Many opportunities were created for swing trading. Starting with 2017, Bitcoin is very unstable and very risky to invest for the long term.
I do not recommend to anyone to seriously buy bitcoin in present environment, but to wait.
True. Extreme volatility it's crippling this asset's reputation!
Hodl (long term investing in bitcoin) it's totally nonsense!
How can anyone think to invest big in such a pumpty-dumpty asset?!?!?!?
How can anyone think to store value in bitcoin?! It can slump 50% in a week!!! Check that out, it's on the chart!
How can anyone think of bitcoin as a refuge asset?! Look what happens if war (geopolitical risk) ...Gold moves, not bitcoin!
The bitcoin chart shows plainly that it's a pure speculation tool!
Play only for fun!... Even big investors and institutions are investing small percentage from their portfolios because the big risk now!
Like I (a retail chap) put only some $500 in bitcoin for fun... ok, everybody have 50-100 bucks for a gamble!
When the bitcoin crashed from $19,900, nothing was changed essentially from today!
Bitcoin was still the same asset essentially!
Meaning, 19,900 did not prove to be high enough to ensure that it will never collapse like a boulder
down to the minimum profitability (electricity waste, mining) level !!!
Careful, everybody! The FOMO bitcoin sentiment can wipe you out!
What is essentially different today from December 2016, December 2017, December 2018 ?
If the answer is: nothing essential, it's basically the same idea to build a currency on blockchain technology,
not much, the same shit... So, why the huge roller coaster?
Who sold the 19K?
Who cashed in the US dollars from 19K?
Who got burnt from 19K?
congrates TudorIoan for starting the thread,,,a lot of quality and informative knowledge about the bitcoin would be just on this thread wow,,,i personally dont trade bitcoin as i feel its a bubble and there is nothing on which it basis but will try to learn the basic of bitcoin and how can we get benefit trading bitcoin from my friend Tudor,,,
It's just that I hate scammers. And cryptocurrencies are a global scam!
It is not moral for the financial entities to be untraceble!
BTW, the crypto elite are even worse than the rich today. Gini ratio shows like 1% people (the rich) own 50% of the total USd world's fortune.
.........but 1% of crypto elite holds 80% of crypto!!!
They are the new crooks!
And they have the nerve to blame the banks!!!
Imagine the global monster mining and blockchain admin. plants! Cool, yah!
Who will afford to build such plants?
Who do you think it will gonna be the crypto elite?!
Who's gonna be the crypto new global bankers, the new "middle man"?!
...you and me, the small people?
At huge global scale, the blockchain traffic will take more and more time to process data.
Blocks traffic will slow.
That means expensive computing power, monster proccessors, monster crypto plants! Who's gonna pay for it?!
Who's gonna pay for the enormous electricity waste.
It's you and me, the small people will pay.
Enter Monster Commissions!
Commissions. New commissions.
If no politic authority, pure supply and demand global market economy (libertarianism) will generate continental oligarchies lead by crypto plants magnates!
The new rich will thrive and despotically lead the crypto-society.
Oligarchic Commissions Market will set the "agreed" price.
That's what oligarchies does.
Crypto Loan Sharks, or what? ...if no Banks!
New global order => Authority vaccum ...if no governments! Chaos!
We'll get back where we've started! Even worse.
New crooks. New stups.
And here's the technical analysis for the next couple of years
Pump-dump-pump-dump-pump-dump... ........happy humpty-dumpty party, everybody!
There are Bitcoin lovers and Bitcoin haters.
Well I have a question for all of you. Are you Bitcoin lovers or Bitcoin haters? As for me, I'm Bitcoin hater.
So bitcoin won't disappear forever, otherwise it will be the end of all cryptocurrencies. And it isn't beneficial to its creators. But there will be a moment when the majority of Bitcoin "believers"go away from their Bitcoin idol.
About anonymity. Because of the anonymity of Bitcoin money can be transferred to military weapons, terrorist attacks, and so on.
I still periodically receive emails that if I don’t transfer 1 Btc to an unknown wallet, all my accounts will be hacked. And it might work for someone.
In addition Bitcoin transfers aren't recorded anywhere, and you don't pay taxes for it. And it is unprofitable for the goverment. They can't track the history of your payments. But it is beneficial to those who want to hide their money and not pay tax for it.
And as far as I know, in the Nepal any operations with Bitcoin are prohibited by law and can be punished with imprisonment. As for me its too much.
© Crypto Craft