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Honorable Bitcoin

  • #541
  • Feb 18, 2020 2:54am Feb 18, 2020 2:54am
- Thinking transaction alone makes no sense without the whole ledger.
- So you have to promote the whole everything.
- But the whole everything doesn't work at large scale such as global.
- Because crypto is not scalable (speed), not sustainable (energy/purpose), not transparent (owner's identity hidden), not safe (blockchain vulnerable and dirty interface, ...exchanges, miners), economic hazard (deflationist effect)
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Now, if no global go...where is the future of blockchain ?
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  • #542
  • Edited 7:04am Feb 18, 2020 6:52am | Edited 7:04am
Ok, it's very hard to tell ...when to go with the pump and when to dump
A bitcoin bubble must blow up with surprise ...otherwise, whose money they will cash ?

This post explains that bitcoin is a pyramidal gamble...
Simple thing, sharks took advantage from stupid greedy wannabes periodically
Since wannabes' stupidity and greed are endless, this pyramidal game of rolling this non-value computer code thing can be repeated forever

BITCOIN BUBBLES , TRICKY GAMBLE, ...see the pic !
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  • #543
  • Edited 9:11am Feb 18, 2020 7:23am | Edited 9:11am
On crypto crime.

Crypto champions are either very dumb or crooked to the bone.
Hard to tell because on one hand they show similarities to teenager brains. Idiot kids.
...I mean their behaviour, all crypto nonsense and attitude, anarchism, and begging for attention ...that's childish ...loser pattern
On the other hand they show and assume also criminal mentality. This can be smart

BTW, about crime... consider money laundry or drug dealin' in the bitcoin criminal environment.
The bitcoin ownership anonymity doesn't count for the idiot street drug dealer!!
The street dumb dealer is at risk anyway. He's liable as a user or a supplier, but money found on him doesn't matter!
Cash or crypto wallet, all the same in the street.

It's not for the street supplier, it's more for guys like lord Escobar
Big shot's money piles up on crypto wallets ...miles away from your poor street dealer
No link to El Chapo ! That's the whole point. He is clean like the Pope is. The crypto just clean up those MOFOs.
The crypto wallet found in the street on your dealer doesn't link to anyone ! No personal identity, no location !

That's why crypto is a medium of crime ...it's mainly for the big crime, the crime that matters, not for junkies in the street.

Hidding big illegal earnings from drugs, guns, human trafficking, bribe, terror, ransome, inside trading, tax evasion..........

CRYPTO IT'S SUPPOSED TO BE the NEW GLOBAL FISCAL PARADISE ! ....buy now !

post justification: my view on bitcoin is bearish on the long run.
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  • #544
  • Feb 18, 2020 4:07pm Feb 18, 2020 4:07pm
Quoting TudorIoan
- Thinking transaction alone makes no sense without the whole ledger. - So you have to promote the whole everything. - But the whole everything doesn't work at large scale such as global. - Because crypto is not scalable (speed), not sustainable (energy/purpose), not transparent (owner's identity hidden), not safe (blockchain vulnerable and dirty interface, ...exchanges, miners), economic hazard (deflationist effect) ______________________________________________ Now, if no global go...where is the future of blockchain ? {image}
In order for blockchain to work on a global basis it would need to be implemented on the most efficient and powerful computers such as Cray supercomputer
I found a used one on eBay for $44,500 but brand new the cost was $10 Million. What a bargain for keeping blockchain ledgers and process transactions
  • #545
  • Edited 10:26pm Feb 18, 2020 10:15pm | Edited 10:26pm
Quoting Hutch
{quote} In order for blockchain to work on a global basis it would need to be implemented on the most efficient and powerful computers such as Cray supercomputer I found a used one on eBay for $44,500 but brand new the cost was $10 Million. What a bargain for keeping blockchain ledgers and process transactions
Yeah, among other things...
Computation power is too expensive.
Transactions are too expensive.
Competition for mining will consolidate crypto oligarchy.

Yeah the banking system has many problems ...but bitcoin is not the solution
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  • #546
  • Edited 11:57pm Feb 18, 2020 10:35pm | Edited 11:57pm
Crypto idiots are financial ignorants.
Those half-witts can see only one side of the problem, ...preserving the value of their savings. And that's it.

Here's a secret for those crypto wankers, the world's economy is bigger than your toillet, you morons!

Bitcoin mess up the whole economy, ...deflationist effect will create unemployment for instance, ...anonymity - easy extended crime, ...centralization - oligarchy...

Crypto desperate teen brains are a just blind ignorants.
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  • #547
  • Feb 19, 2020 4:21am Feb 19, 2020 4:21am
Crypto or CBDC are impractical only because of the cost/efficiency ratio.
They are dead but they don't know yet.
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  • #548
  • Feb 19, 2020 4:17pm Feb 19, 2020 4:17pm
Quoting TudorIoan
Crypto or CBDC are impractical only because of the cost/efficiency ratio. They are dead but they don't know yet.
Please don't tell them or they will become zombies before I stop making $ trading crypto
  • #549
  • Feb 20, 2020 1:34am Feb 20, 2020 1:34am
Gathered lots of information here.
  • #550
  • Feb 20, 2020 2:45am Feb 20, 2020 2:45am
Hi Hutch, it also looks like someone suddenly realised that bitcoin is virtually dead and dump its loads of sht, BAM!
Oh, another $700 in 5 minutes !!! ...bitcoin, whatta hoax !

Posted on other's people analysis thread, but I have to keep this post for the record on my thread ...it's edifying for the cursed volatility which cripples this bitcoin.
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  • #551
  • Feb 20, 2020 5:39am Feb 20, 2020 5:39am
Really nice read thanks for sharing a lot of good facts, analysis. Keep it up.
  • #552
  • Edited 6:45am Feb 20, 2020 5:47am | Edited 6:45am
Bart Simpson Pattern. AGAIN !!
Just typical for this bitcoin trash.
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  • #553
  • Feb 20, 2020 9:21am Feb 20, 2020 9:21am
People who say you can't save in gold ...they don't have any

You don't have to pay everyday for your coffee in gold !
You just have to save in gold, preserve value of your work in gold.

Crypto on the other hand, is totally unfit to save anything with ...too volatile.
And the future of the crypto is hazy because of deep technical issues. Too risky for the long run.
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  • #554
  • Edited Feb 21, 2020 12:21am Feb 20, 2020 9:31am | Edited Feb 21, 2020 12:21am
Quoting tharik
Gathered lots of information here.
Quoting ZakMorton
Really nice read thanks for sharing a lot of good facts, analysis. Keep it up.
Hi there, guys ! Thanks.
Yeah, we all know there's something wrong wittha current system but I don't think the bitcoin is the solution on the long run.
Bitcoin is a great speculation tool. As traders we buy and sell "everything" !
But if we think to invest on the long run, we must know what bitcoin really is.
McAfee, Craig Wright, Not-KPMG, they don't help bitcoin. They don't help the non-wannabe people to understand bitcoin because they go too clownish and idiotic on the crypto topic.
If we will ever put big money in this, we must understand what exactly is and what is the real fundamental potential of this bitcoin thing.
Otherwise we're only lunatics running with a burning match through a dynamite factory. We may live ...or we may not
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  • #555
  • Edited 10:07am Feb 22, 2020 9:02am | Edited 10:07am
Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors.

This is the truth about bitcoin and other crypto.

So my view on bitcoin is bearish on the long run. I hope it helps for your trading.
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  • #556
  • Feb 22, 2020 9:44am Feb 22, 2020 9:44am
Look, that crypto idiot, you know who, he imagine a world without taxes, governments ...pathetic dumb clownish imbecile
He thinks he's funny Coward, he's reporting my posts all the time ...oh, that's funny
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  • #557
  • Feb 22, 2020 11:32am Feb 22, 2020 11:32am
Quoting TudorIoan
Look, that crypto idiot, you know who, he imagine a world without taxes, governments ...pathetic dumb clownish imbecile He thinks he's funny Coward, he's reporting my posts all the time ...oh, that's funny
You know that I hate taxes but this is because it's proportionally unfair in most countries. I'm all for govs with good governance but few countries are like that these days. 3 cheers for good govs with fair taxes
  • #558
  • Edited 5:00am Feb 24, 2020 4:39am | Edited 5:00am
Nowadays, bitcoin is dominated by very large bitcoin mining companies and some big exchanges.
Between them those guys make up 80% of the transaction checking system, or the hash rate, of bitcoin.

So in other words instead of having central banks, now you have some Crypto Mining Big Brothers and Crypto Exchanges Big Brothers.
Now, if the blockchain is clean and impenetrable, these guys are no angels

Sooo, bitcoin far from being a distributed system it's now fairly centralized in these large crypto companies
and collectively they could choose to 51%-attack, block, reverse transactions or even change the entire bitcoin protocol.
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Now considering the above, this Zhao guy (pic) is so confident in the way that the crypto whales have centralized control on bitcoin so that he even can afford fake bets on fake predictions in order to gain trust from the wannabes !
Great strategy, crook !

Welcome a new Crypto-Ponzi endless self-reinforcing pattern !!

It's like ...if I control the price ..as the crypto oligarchs do, I would go like:
1 - I'd make a fake public bet that bitcoin will be up above the 20K (like Zhao, McAfee, Craig W, A Hayes, ...)
2 - then I'd pump the bitcoin up there absorbing people's real money in the process
3 - then I'd dump that bitcoin chart collecting my cold hard ca$h.


But hey, the little crypto wannabes will already consider me a god because of my "power of prediction"
I just have plundered them ...oh, and now they think I'm a god ???
And now they will believe me everytime I'll make a "prediction" !
And the more billions I rob from them they will give me more and more power to control the chart !!!
...so, I'll be more and more accurate in my "predictions"

Then:
4 - I'd reinvest the the gain reinforcing the same scam ...virtually forever, ...or until the Grand Final Crash,
collecting the big pot then, and making myslef a fkn filthy zillionaire

Shit, this more than a crook can dream !!


Bitcoin, bearish for the long run ...is it ??? But this is how it was steadily growing from the 2 pizza !! Oh, no !!

Bitcoin = Crooks & Stups
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  • #559
  • Feb 24, 2020 5:15am Feb 24, 2020 5:15am
Quoting TudorIoan
Nowadays, bitcoin is dominated by very large bitcoin mining companies and some big exchanges. Between them those guys make up 80% of the transaction checking system, or the hash rate, of bitcoin. So in other words instead of having central banks, now you have some Crypto Mining Big Brothers and Crypto Exchanges Big Brothers. Now, if the blockchain is clean and impenetrable, these guys are no angels Sooo, bitcoin far from being a distributed system it's now fairly centralized in these large crypto companies and collectively they could choose...
Proofs ?
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  • #560
  • Feb 24, 2020 8:43am Feb 24, 2020 8:43am
“In terms of value: Zero.” “I don’t own any cryptocurrency and I never will,”
You have nothing to do with bitcoin except to sell it to the other guy ...and make it his problem !

A payment system ?? Ok, but it's your problem how you get your real dollars back !

Thank you, Mr. Woodstock of Capitalism ...many epic remarks there !
So I was right !
Bitcoin is just a computer code which actually worth only the money that the crypto wannabes bet on !!
And people bet on bitcoin only because other people say it worth "?something?".
But bitcoin is just a computer code "backed" only by illiterate anarchists, frustrated geeks, wannabes...
So, ZERO TRUE VALUE !

Therefore the higher it goes, the worse will fall ! ......just give it time, there are many more wannabes who "beg" to be robbed, ...give it time !
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