Cash will not exist in 10 years and some of you faggots still argue "what's the point of Bitcoin".
https://www.youtube.com/watch?v=JwkC8WaN5T4&t=30m21s
watch 30 minutes 21 seconds
Just lol, absolutely fucking lol. Sad goodbye to financial privacy.
>>1052846
>2020
>use bitcoin to buy a sandwich
>centralization has allowed miners to execute double-spends
>bitcoin's value plummets as a result
>the sandwhich costs 3000 BTC
>it takes six days for the transaction to process
>because bitcoin is based on a public ledger, your crazy ex sees that you bought a sandwich in by where you live in Sheboygan, Wisconsin
>finds you and murders you
No thanks, I'll pass.
No thanks, I'll pass
>>1052867
Ugh, fuck posting on mobile.
>>1052867
>This is a nocoiners conceptualisation of real life.
Thats why Gaddafi had to die!
>>1052846
i genuinely believe the fact that bitcoin survived this supposed 'failure' and the following panic-sell and is now back at baseline compared to where it was before the article of this developer-fearmonger was published, means it's not only here to stay, but still a potentially incredibly lucrative investment.
if i had any money right now i would most definitely buy 10k€ worth of bitcoin and sit tight.
Real money hasn't existed since the gold standard you fucking idiot.
What you hold in your wallet is a claim check to an idea that the federal reserve produced. It's no different from digital currency now.
Are you really this fucking stupid?
>>1052846
Some might argue that cash won't exist in 10 years specifically because of Bitcoin and the blockchain. It is the catalyst that eventually kills our financial privacy. Fucking thanks, Bitcoin. I was fine with the privacy and anonymity of cash and pre-paid debit cards, assholes.
>>1052846
Is that the frog from that "Inside Job" meme documentary on the 2008 financial crisis?
>>1052882
>privacy and anonymity of pre-paid debit cards
Those ones you need to provide ID and tax/social number to activate? You're super awesome
>>1052903
Wat? I buy my prepaid debit cards in cash. From Walmart. No ID or SSN needed. What are you on about?
>>1052846
Everyone who steps into a bank can see the transition. There's a big push to move people over to the ATM's and mobile/internet banking to perform all transactions - staff are rewarded for talking people out of face to face transactions. This is under the guise of "helping customers bank in their own time". Identification must be recorded for every face to face cash transaction at many of the banks now and more are going to have to follow suit as the government steps up its demand for record keeping. There's already SAR's and CTR's which get filed for the big deposits or other 'suspicious' activity - like trying to deposit and access your own cash reserve as you please.
Foreign banks have been forced to hand over their records to FinCEN if they want to do business with US banks - they'd be crippled if they didn't do business with US banks so they have no choice but to be compliant.
So now you've got a banking sector which ID's all face to face transactions, has records of all other transactions via internet/apps and even tracks foreign banking institutions under the guise of "muh terrorist funding".
Soon, the IRS will have its own crypto-currency and that will edge its way into the US economy as the only legal tender. Fully traceable, no tax evasion, no buying anything without 'them' knowing.
>>1052907
Federal laws and such and so forth and so on
>>1052907
>implying they don't use facial recognition at the checkout counter
You can't escape, m8
>>1052895
kek, are you talking about Christine Lagarde? The motherfucking director of the IMF?
You're on /biz/ and you dont know who she is?
>>1052921
I don't know of any federal law that you requires you give identification to buy a prepaid debit/credit card. Their whole purpose was so they could be an alternative to banks and not require you to go through the process of opening a checking account. They offer full anonymity because they are not linked to any of your personal identifiers. If you use a Bitcoin exchange, on the other hand, you have to give a whole slew of IDs, bank routing numbers, current bills to prove residency, etc. The whole thing stinks to high heaven.
>>1052938
I giggled. I don't know if this was intended to be a joke but it was funny.
>>1052966
It's not. All major retailers are feeding their surveillance video feeds into facial recognition software now. They get name and face information from Palantir who in turn buys it from Facebook and other sources.
>>1052878
>Real money hasn't existed since the gold standard you fucking idiot.
>>1052963
Link to the one you regularly 'buy' and I'll point you in the right direction. Visa and Mastercard would be out of the question so for now I'm stumped. Unless you're so fucking retarded that you buy them and never activate them.
>>1052996
yeah it's hilarious.
>>1052984
Cool. I find this dubious at best. Not that I don't think technology is headed in that direction but I doubt facial recognition software is at the point where it can track someone then pinpoint all their exact purchases and cross reference Facebook to get their name and identity to be able to track online use with a pre-paid debit card back to its owner and then care enough to do anything about it. Pretty far fetched. In the future when all purchases are digital and tracked on a public blockchain? I can see it. Fuck blockchain technology.
>>1052996
>>1053000
I think you're missing what he's saying. Our currency is arbitrarily minted by fractional reserve banks. They can invent new money whenever they want to, and often for their own benefit.
The illusion of our money's sacredness happens only in those that are distantly separated from those that can make new money whenever they want, i.e. poor.
>>1052984
If Palantir ever has an IPO I'm buying it.
I mean I know they're an evil company, but that's money on the table.
>>1053007
Except the software is much more advanced and widely used than you realize.
http://fortune.com/2015/11/09/wal-mart-facial-recognition/
>>1052871
If you are going to post nonsense just don't post at all.
>>1052867
Anyway I'll address this cancerous troll:
>centralization has allowed miners to execute double-spends
This is nonsense, you would need a massive amount of hashing power to pull a double spend, it only gets increasnigly harder. We've barely ever had double spends incidents, it will get increasingly rareer. This is a classic cope.
>>the sandwhich costs 3000 BTC
Nchk this is just fucking retarded.
>>it takes six days for the transaction to process
We will have the Lightning Network delivering decentralized, instant payments all over the world for cheap fees, deprecating any other payment network. No one will use on-chain transactions for a fucking sandwich.
>because bitcoin is based on a public ledger, your crazy ex sees that you bought a sandwich in by where you live in Sheboygan, Wisconsin
Wrong, learn Confidential Transactions and BIP47
http://insidebitcoins.com/news/reusable-payment-codes-could-make-blockchain-analysis-companies-obsolete/35899
>>1052999
>Visa and MasterCard are out of the question
No. We may have different definitions but a prepaid gift card can be used wherever Visa and MasterCard are accepted and be used exactly like a debit card or credit card. The only restrictions are for things like renting a car or booking a hotel room which carry extra liability. What else would you use it for except buying things online anyways?
>http://www.walmart.com/ip/Visa-100-Gift-Card/46518455
Also what are VCCs (Virtual Credit Cards)? Those don't require ID either. I'm surprised you don't know about this stuff.
>http://www.ptshamrock.com/auto/virtual-CC.htm
>>1052878
We are talking about moving value in an untraceable outside of government control you dumb cunt.
>>1053016
No, I understand that facial recognition software is in use. Its been in casinos for years. I just don't think it is used in the quite the capacity that you think it is. Yet. Just the fact that Walmart has started a test phase a few months ago is bad news. We both can agree that its headed in the direction you think it is. I just don't think that it is at the point of sophistication to what you alluded to in your first response to me. I think we're about a decade off still.
>>1053030
>posts a bunch of potential "could" and "might" solutions
>ignoring that they all require blockchain forks
Maximum overlel. It's going to be a rough few years for you, anon.
>>1052963
They can pass laws to start requiring all sort of data and they will idiot. Also we are talking about how cash will not exist in 10 years, so how are you going to buy those OTC pre-paid cars? Get a grip and start learning about Bitcoin and how to keep them safe.
>>1053056
More FUD. CT needs only a soft fork, segwit needs only a SF, SC needs only SF:
it is very likely that Bitcoin will support side chains within the next few years. (By my guess, not 2015 but maybe 2016.) Side chain support does not require a hard fork---it only requires a soft fork. As the sidechains paper explains (page 10, final paragraph):
>To use Bitcoin as the parent chain, an extension to script which can recognise and validate such SPV proofs would be required. At the very least, such proofs would need to be made compact enough to fit in a Bitcoin transaction. However, this is just a soft-forking change, without effect on transactions which do not use the new features.
Note that Bitcoin doesn't need a special counter to keep track of value sent to child chains---it already keeps track of every spendable balance. Sending bitcoins to a side chain will be essentially the same as sending money to any other bitcoin address---except that you'll need a special tool to create the transaction for you. Receiving bitcoins back from the side chain will also require the special tool, but that tool will just create a transaction that spends one or more of the transactions previously sent to the side chain.
>>1053063
They're still forks, and already the community is unable to agree on what to do. Also sidechains have to be whitelisted on a case-by-case basis.
>>1053059
You can respond to me without the barbs. This is a civil discussion and just because someone posts something you don't agree with, you don't have to verbally attack them. I actually agree with you that they eventually would have passed laws to cover all the bases and that pre-paid gift cards and VCCs will eventually require personal identification. My whole point was that cash will not exist in 10 years BECAUSE of the blockchain. Cash and pre-paid cards are going the way of the dinosaur to pave the way for ultimate government control. What I was saying is that I was perfectly fine using cash and fully anonymous cards. I don't want a pseudo- anonymous technology that will ultimately lead to a cashless society. Will it happen? Yes. Can you at least allow me the dignity of bitching about it though?
>>1053072
In that case it would be to everyones advantage to make sure that a truly decentralised blockchain like bitcoin, or many, continue to exist.
Bitcoin is not the trojan horse you claim it is. Cashless society was in the works long before bitcoin was even dreamt of.
>>1053070
So fucking what, soft forks don't constitute a substantial risk.
"Duh things need to be done to scale a protocol in the early stages". This is a moot discusion.
>>1053072
Im tired of uninformed trolls FUDding thats all.
>. My whole point was that cash will not exist in 10 years BECAUSE of the blockchain.
Really? And a lot of jobs don't exists and will continue to keep dissapearing because of improvements in technology. Do we stop objectively superior technology then? Things come and go, the current banking system is running under deprecated technology.
In any case, if satoshi nakamoto didn't invent Bitcoin, someone else would have eventually come up with it, let's just be thankful that the original implementation will always be a pro-open source, pro-privacy friendly implementation and not a bankster one. The banks will always be seen as rip offs now.
So yes you can bitch but start getting your ass on Bitcoin it's all im saying.
>>1052846
>Cash will not exist in 10 years.
I'm going to assume you're young and don't realize how short a period of time 10 years is.
>>1053087
Cashless society has been in the works for a long time but you have to admit that cryptocurrencies are the perfect vehicle. Cryptos were dreamt of long before you or I were ever aware of it.
>http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
Blockchain may be decentralized but I don't think it is as impossible to suppress as some have claimed. There is enough centralization involved that they could just target key areas and go from there. Bitcoin exchanges for example. They can be shut down. If Bitcoin were ever made criminal they would do this first and then it would be much harder for people to get Bitcoin. Websites like localbitcoins would be the next place to be hit, then they would go after merchants that accept Bitcoin. At that point Bitcoin would have to relocate to the dark corners and recesses of the internet like the onion router. I'm not saying Bitcoin would be dead, just that they can make it a pain in the ass to buy, sell, use and purchase goods with. They would send undercover agents to raid marketplaces just like they did with Silkroad. I don't really see any positive outcome for Bitcoin once the government rolls out their own blockchain, to be honest. I don't like it either but I don't see any other eventuality here.
>>1053102
We will never have a cashless society because there are too many people wanting to do too many things without leaving a trail.
... buying illegal drugs
... buying illegal women
... hiding off the books money
... etc.
And the problem with Bitcoin (and such) is that they want to act like a fiat currency without having a country to back it up.
>>1053088
I don't object to the blockchain because I think it is an inferior technology. I object to it on the basis that it will erode personal rights. Just because a new technology CAN be implemented doesn't mean it SHOULD. No FUD here. It's not like I really care about if the price of Bitcoin goes up or not, I just have a lot of reservations about what it is and I think there are a lot of people that are unaware of how blockchain tech will be ultimately utilized.
>>1053106
we will go back to trading goats for women
i can't wait
>>1053106
I can agree that there are a lot of people that are against a cashless society. I'm one of them. That doesn't mean that it isn't the government's aim though. If you think we are far off, consider that Israel is almost there already.
http://www.israelnationalnews.com/News/News.aspx/172028
>>1052846
Bankers seem iffy about the future as well.
>>1053106
Yeah as if the powers that be give a fuck about what a 4chan pleb wants to do.
We are going to have no cash in 10 years, even Lagarde is in. It's over buddy. Escorts will accept Bitcoin so we are saved anyway.
The future cryprocurrency's forerunner will be the USD or whatever global currency the IMF is going to issue out. There is nothing that's stopping the current currency powers from making a copy pasta of bitcoin with 200% more surveillance.
>>1053102
Then Bitcoin would become #1 used stuff for prostitution, drugs, and basically anything that you want to do as a free citizen, so trillions would be put on there.
Also the main point of Bitcoin is to get them by offering services and not buying them. I have never bought a single Bitcoin, I have offered my skills (programming) and made a decent portfolio without ever giving my info to any exchange. The gov can never know I own Bitcoin unless I want to.
>>1053096
Im going to assume you are old and don't realize how much can happen in 10 years in a post-internet environment.
>>1053111
Come on grandpa. Cash is fucking annoying, touching it is disgusting, you don't have freedom to go to another country and spend it without exchanging it.
If Bitcoin was accepted worldwide you could have 1 million in your usb and go to czech republic and fuck a ton of models without anyone knowing (for example).
>>1053158
I really doubt that. Unless you've been into stealth since 2008 and you've looked up TOR/bitcoin/stealth on a non-stealth computer, you're probably on a watchlist. Then when the government shifts towards their version of bitcoin, they will watch your financial closely. Unexplained purchases? Ding doing bannu. Unexplained internet behavior that isn't facebook/twitter/youtube? Ding doing bannu. If you think you'll have the rights you have now in 10 years it's time to reconsider.
>>1053088
>So fucking what, soft forks don't constitute a substantial risk.
>"Duh things need to be done to scale a protocol in the early stages". This is a moot discusion.
You're fucking retarded. You're yet another bitcoin fanboy that doesn't understand shit about the implementation of cryptocurrencies.
A fork is a fork. Bitcoin isn't small anymore: getting all of the exchanges, miners, and bitcoin-accepting services to support blocks with whatever the fork flavor of the month is will be literally impossible. Nodes can't just accept one fork of the protocol but not another: they all have simultaneously support the same changes or else they will discard the new blocks. The miners realize this. They're not going to invest their efforts into minting new blocks that contain transactions which might not be accepted by the entire network. The blockchain genie has been out of the bottle for a while now: you can't just go back and just change the protocol.
But keep telling yourself
>hurr durr nocoiners cope
It'll be the only comfort you have going forward.
>>1053239
okay
this is the biz telegram group
https://telegram.me/joinchat/BUoAxQY6iM77CUAuy_B3Xw
join us for more moneh friends
>>1052846
Yeh but why would bitcoin be the default option? First mover advantage? Myspace had that
>>1053169
They aren't doing shit. That's retarded.
Also even if that happened, they would never be able to get my bitcoins, because they are encrypted. Even if tourtured me, I would deliver a secondary password that opens a wallet that contains some bitcoins but not many as plausible deniability (just like hidden veracrypt volumes). It's game over, cryptography already beated goverments, what you see right now is cope left right and center.
>>1053239
Cope, you don't know how this works as demonstrated by claiming how x needed a hardfork then backpeddling. 0.12 coming soon, lots of nice features, scaling roadmap will go as planned, screen capped to post again 6 months maggot.
>>1053528
>gets called out on blatant bullshit
>c-cope nocoiner
>t-to the moon
Fanboys like you make my day.
bumping for crypto related
>>1053556
>gets called on blatant bullshit
>acts as if you called anyone on blatant bullshit
Typical nocoiner dementia.
>>1053523
>cryptography already beated governments
>beated
Kekked. You're are a fucking retard. The US government (specifically the NSA) is the one that created modern day cryptography. How the fuck do you figure they are beat by something they created you colossal dumbass? For the love of everything that is sacred, stop posting. Forever.
>>1053902
well, a very small minority of people who know what bitcoin is *a trojan horse*, is the reason why I invested into bitcoin kek
msg4 gun blockchain tech son
The world as we know it wont exist in 10 years, i hope you guys have a gun for self defense :^)
>>1053835
>I'm just going to ignore the fact that miners won't endorse blockchain forks since they would risk mining invalid blocks and endanger their mining operation
>le nocoiners cope X--DDDDDDDDD
>>1052846
digital currency may be the future, but it aint bitcoin.
>>1052867
>the sandwhich costs 3000 BTC
you realize bitcoin will experience massive deflation right?
>>1053044
Which is absolutely why it wouldn't work.
>>1053969
>miners won't endorse blockchain forks
It's already happening:
https://bitcoinmagazine.com/articles/f-pool-chinese-pools-will-stick-with-bitcoin-core-1453395328
>Chun insists a hard fork is the desired solution to accomplish this – rather than a soft fork through Segregated Witness
>>1053974
What is it then
>>1052957
You mean you don't know who he is?
The new browser Brave by Mozilla cofounder Brendan Eich features Bitcoin integration.
>Eich says the browser is also attached to two components that differentiate the user experience from others, including a “data vault” for each user, as well as a “digital wallet” leveraging digital cryptocurrency Bitcoin for transactions.
http://www.mediapost.com/publications/article/267089/new-browser-offers-brave-solution-to-ad-blocking.html
Reasons to not hold some Bitcoin starting to look more and more like a childish cope.
