Can someone please bring me upto date with the whole cryptocurrency scene?

No please go on. Enlighten me as I am a brainlet on this topic.

I just can't seem to understand why people would want to trust a system which lays out everyones transactions in a public ledger for the entire world to see, even if it is all anonymous. If someone got hold of another person's bitcoin address I would assume there would be certain privacy risks...

Imagine a world where Jae-In Song must now pay 2 Mooncoins per kb of email sent.
You won't be getting hacked unless rich fags pay for it.

Also, imagine a MySpace that is backed by likes and users instead of Zuccbook and the iPhone. Now that apple has stopped sucking the marrow out of Steve Jobs carcass, they're about to make cryptos horrible by making it the Mark of the Beast...
So, best info you'll hear on cryptos all day is: buy Unobtanium and ignore all this shit until you have to get a chip in your forehead, citizen

>What is so revolutionary about an emerging market stemming from the creation of new technology that undermines a century old oligopoly of large institutions that primarily function as inefficient middle man for wealth transactions and wealth security?

Gee I don't know op...

>le get rid of the middle man meme
>instantly have millions of people unemployed

I think you might actually have a brain defect

Meme triangles let me explain
1 chose a triangle
2 pick a chart
3 mix them up
4 congratulations now you can see the future

If only we'd known a hundred years ago that the solution to the fiat problem was just having some guy print off all the money in his basement and make people do increasingly difficult math homework to get a share of it. Brilliant.

>fear of free-market innovation
Commulet detected.

Thats exactly the solution you thought you were being smart with your sarcasm but in your stupidity you said something right , i love when idiots randomly say something right and they arent even aware of it , nature is truly amazing

It's a ponzi bubble, a new invention in the world of the (((((jew))))). It's whole purpose is to make you money. Until one day you wake up and be bankrupt and homeless. Enjoy.

great argument for 2012
how come it didn't hold up?

Yeah if only we could have known about asymmetric cryptography, and had a global network of devices competing for resources to produce new currency, instead of some guy printing off all the money in the federal reserve's basement, and sharing it based on however much he feels like loaning out that day.

The oracle problem

The free market isn't a ponzi scheme. If anything, the us dollar is a ponzi scheme, because the us has to keep forcing more people to use it, for it to retain any value. Why do you think oil is priced in usd, and that any nation that tries to break free from the petrodollar, is effectively destroyed in political uprising?

The market is a ponzi scheme fiat is a ponzi scheme everything is a ponzi scheme even the ecosystem of this planet is a ponzi scheme, what this faggots cant see because they have been brainwashed by jews propaganda is that a ponzi scheme is not a bad thing

>If someone got hold of another person's bitcoin address I would assume there would be certain privacy risks.
Not necessarily. The amount sent/received is visible and the public address is visible but that public address doesn't mean squat to a thief unless they hold your private keys. There's 4 levels of storage for crypto:
Exchange
Software wallet (hot wallet)
Hardware wallet (cold wallet)
Paper wallet

Exchange is the most risky. You don't own your private keys. If exchange gets hacked or vanishes a la Mt Gox, you're fucked. So rule 1 is don't keep all your crypto on an exchange.
Software wallets you do own the private keys, so you have total control over your coins. Software wallets are like the wallet in your pocket. You keep spending money, it's easily accessible but being that the keys, seed, password, PIN, etc. are all created on an internet connected device there is concern about keylogging and being compromised. Also you are trusting the dev team of said software wallet and their code.
Hardware wallets are arguably the most secure. Your private keys are generated and only seen on the hardware wallet itself. You can even plug in a hardware wallet to a malware infected computer and still safely transact with crypto, there is no way for malware or keyloggers to read the keys off your hardware wallet. If you lose the wallet, you can still retrieve your coins using the random seed you're given once you start up the wallet. You don't even need to buy another wallet of the same brand, just use a BIP39/44 wallet and your random seed will get your coins back.
A paper wallet is probably THE most secure in terms of keeping your private keys for your eyes only, but comes with the risk of the paper being stolen or lost. The private keys are clearly written on a paper wallet so if stolen, your coins are effectively gone. Upside, paper wallet is free.

More like some guy in his basement empowered other guys in their basements to do increasingly difficult math homework so they each get a share for their work, and so that anyone who wants a share and doesn't want to do the homework themselves are double checked and verified by those doing the math.
Your understanding of blockchain is incredibly flawed.

The crypto scene is libertarians ponzi scamming eachother and pretending that finances would be better if they were unregulated and unpoliced lile the 90s internet.

The tech is fucking awesome though. Beneath all the intellectual dishonesty is tech that disrupts the game theory of the trusted middleman. All the rent seeking on account of selling trusted third party services can get redistributed to companies and consumers. The economy gets that much more efficient.

The scene is shit now though cause muh scammy ICOs.

first step: one entry accounting
king writes what you owe him and thats it
second step: double entry accounting
you write what you owe the company in your books and company writes what you owe them in their books
third step: tripple entry accounting
now go figure out why this IS in fact a big thing and why blockchain is the future

Start by watching Freedom to Fascism.

This.

Satoshi Nakamoto is the modern day version of en.wikipedia.org/wiki/Luca_Pacioli

Also - the idea of the greater fool theory does not apply to Crypto as actual value is produced. Not understanding blockchain is not understanding the value produced.

You could also argue that stocks are a greater fool theory, through your limited understanding of the stock market. Doesn't mean stocks don't represent inherent value. If you would've bought apple in 1992 in large quantities, you would have been rich now. Does that make it a greater fool type game, or a recognition of future value.

Nobody holds the answers m8. Research yourself and live accordingly.