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#141
11-03-2021, 12:46 AM
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I guess the bad thing I could see happening to bitcoin and all cryptos is all the national governments agree that they are illegal and are only for black market use and any transacting with them is a criminal offense. And immediately shut down the "mining" operations and destroy the value of the companies that legally trade in them because they can't go black market over night.
They'll just say "we want you to choose USD or some other shit money, or go to jail" They can do it on climate change principles which are part of the united nations. All this computational power doing basically nothing is a waste of resources.
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#142
11-03-2021, 12:48 AM
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Greater fool theory applies to fool 'assets' like Doge, Shiba Inu, etc.
If you think BTC is a fool asset, you are a fool :0 How long does a bubble take to pop?
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#143
11-03-2021, 12:48 AM
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#144
11-03-2021, 12:52 AM
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Western society currently still has good free speech laws. Fed Chair recently said they won't ban BTC.
Also, smart politicians are starting to own BTC, which is really good for BTC holders haha. Politicians always make rules to protect themselves. They will most likely try to ban Firo or other privacy coins.. but it's like banning torrenting. Yes, it'll be illegal, but you'll have widespread personal usage. Even if they ban BTC, like they banned gold, you can't confiscate it. 2^256 # of possible private keys.... impossible to brute force. If it does get banned for X years, those who hold will have incredible wealth when unbanned after X years. Imagine.
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#145
11-03-2021, 12:54 AM
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I want energy/power protecting my money. The last thing I want is some proof-of-stake scheme, which is exactly what we have today. Those with stake make the rules. Quote:
There will always be a financial incentive to allow mining, even if it's taxed or regulated. It's why we have tax shelters and money-for-citizenship schemes. Unless you get the entire world in bed. and with the financial incentive.. fat chance.
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#146
11-03-2021, 12:55 AM
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#147
11-03-2021, 12:57 AM
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Quantum computing is a bogeyman. It's as real as a quantum resistant algorithm. We'll get both, don't worry.
There's brighter people working on this. If "SHA-256 will be broken by quantum computing" is your excuse not to hold bitcoin, you deserve your future poverty.
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#148
11-03-2021, 01:00 AM
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No I get that, that was/is a concern but at this rate it's too big and you have matt damon on crypto.com so the activism is going to go the way of crypto I think. It cracks me up that prices like 37 were way "to high" for me just about a year ago | |||
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Last edited by Jibartik; 11-03-2021 at 01:04 AM..
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#149
11-03-2021, 01:02 AM
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You're rude! | |||
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#150
11-03-2021, 01:03 AM
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You got it backwards. No one with BTC will want to trade for your worthless fiat, regardless of whether it is banned or not.
If you think people with BTC will want to trade for the fiat of some broke-like-a-joke totalitarian regime, you're a fool. No one with BTC is trading for the NK Won, lol In the Weimar Republic, no one with Francs or gold or art wanted Papiermark. You may or may not know more stuff than I, but wisdom is the application of knowledge, and you have shown yourself thus far to either ignorant (lacking knowledge) or foolish (unable to properly apply knowledge) in this matter. Now tell me more about this "quantum computer than can break SHA-256" =)
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