Future of currency or massive pyramid scheme?
Please someone, i want to know if i will be wating my money.
Is it 2014 again? No one buys Bitcoin anymore unless they are child abusers or drug dealers doing weird black market shit.
The former, but you'll encounter resistance from traditional banking infrastructure until they can adopt/exploit blockchain tech. So it will be a while..
See how the block limit increase goes.
>>70501292
Looks like it will be the first big experiment in decentralised digital currency, but not an ultimately successful one.
I still have a small amount of bitcoin, but not looking to buy any more, only recover my modest losses on speculation.
There is an apparent conflict of interest between miners - who want to make as much from miners' fees as possible - and those who want to make it a high volume transaction network.
No-one has solved the problem of ever-consolidating mining pools, either. This kind of defeats the purpose of democratised money.
It's the best currency as long as you're a criminal or a terrorist.
It was an experiment to prove blockchain technology works.
There will be a blockchain coin managed by the worlds banks debuting in the next few years, that one will be even bigger than btc
>>70501292
>Future of currency or massive pyramid scheme?
Why not both?
>>70503390
Exactly. The qualities of crypto currency cannot be understated. The genie is out of the bottle.
Bitcoin in specific may not be the future of money. But it brought the dangerous ideas forth.
>>70501292
Stop doing shit, nothing if safe on internet. Invest in some usefull stuff but don't be fooled bankster are working on blockchain.
>>70501292
>implying pol can into cryptocurrencies
better ask in >>>/biz/ or >>>/g/sqt imho btc had potential before mt. gox got shut down, now it just seems to be stalling, some chinese fags caused a bit of troubles in the mining industry recently, I don't know what happened after that.
> believing the crypto jew
>any business or object or anything at all that promises it can make you more money and that it's what you should invest in
>not a scam
>>70507626
It promises less money than you start with, hence the mining fees. The only way it'll make more is by being more trusted than paper money or paper money being taxed more.
Still it has 3 major downfalls.
Early adopters are very rich.
Amount of concurrent transactions is low, making not viable for small transactions and expensive when it's scaled up.
When mining is no longer viable there will be less miners, making it easier for any party to get a 'temporary' majority.
Still it's one of the safest ways to store currencies when in a place where robbers and banksters steal your gold/gems/cash or freeze your bank accounts
Why wouldn't Mexicans use this to transfer money to avoid Trump's wall tax?
>>70502349
or Taringa's CEO ;)
>>70501292
If the owners of the two largest mining firms joined forces they could literally rewrite the blockchain to say they own every single bitcoin ever, including "lost" coins.
Not that they would do precisely this, but a good example of how remarkably retarded bitcoin is.
I heard bit coins run out in the late 2020s . Is that true?
>>70501292
All currency is a pyramid scheme.
>>70501292
it looks like fraud
they have supercomputers and mining bitcoins, it means that they is appropiating your money without effort... they get money doing nothing
it's profitable, look at the data about profits mining bitcoins
>>70502470
OPEN LEDGER TO THE FUTURE
>>70510686
MONEY FOR NOTHING???
No one really knows.
>The security is not at a level good enough for normies.
>Block size limit increase.
It seems to take years to fix problems.
