Anyone else a philosophical cryptocurrency lover as opposed to just an investor?
I unironically think this is the most important financial innovation since the invention of written language for recording and transmitting economic value
Being a software engineer myself, I find the implementations fascinating and am ecstatic at the entirely new field of decentralized blockchain based computing that Satoshi opened up for us. The future is bright, and the place to be is in computer science right now despite the memes against it all over Veeky Forums
If you don't agree with me, then that's okay but I think you should do some more research into the philosophical implications of the discovery of the blockchain, and furthermore if you don't respond to this post with "Thank you Satoshi" your mother will die in her sleep tonight
I have no other reason or goal other than to milk this bubble up to my goal of 500k and bounce. I don't care about the projects, I want enough to live comfortably.
Christopher Reyes
Obligatory "Thank you Satoshi".
Jace Perry
BTC or BCH?
Aiden Gomez
Yes, I despise the kike bankers and corrupt federal government. Bitcoin is a path to liberation which doesn't involve violence, which I thought was inevitable
Ryan Watson
That post is mesmerizing
Mason Morris
Bitcoin BCH
Colton Lopez
Satoshi defined Bitcoin as the longest PoW chain that follows consensus rules. BCash has a shorter PoW chain therefore it is by definition not Bitcoin. Furthermore, he was philosophically against centralization, and BCash is heavily centralized. There is no doubt that Satoshi would support BTC, not BCH.
Cooper Brooks
I unironically think no one cares
Kevin Peterson
I think it is fascinating, but I also believe that immutable public ledger technology could be shackles for humanity worse than any kike bankster could have ever dreamed of.
Fully realized 100% tracking of human movements and habits will be achievable within mere handful of years, through distributed trustless record keeping.
The road to hell is paved with good intentions...
Christian Scott
Yes. I first got into crypto when that was the dominant spirit of the community. that spirit is still alive but there's a lot more 'get rich quick fuck this shit lollol' mentality around now.
Landon Parker
>Fully realized 100% tracking of human movements and habits will be achievable within mere handful of years, through distributed trustless record keeping. You're completely right, but with privacy coins always being an option this isn't a serious issue user. Look into Monero (XMR).
Cooper Lopez
>centralized
Explain this meme because the argument that bigger blocks = centralization seems retarded when you can buy memory is like 6 cents per gig these days
Ryder Barnes
"Thank you Satoshi"
favorite project/team/application? what do you want to see? what do you think is retarded? what is your greatest fear?
>Favorite team: Bancor >want to see: smart contracts start replacing legal contracts >want to see: gov/public decisions be guided by and made transparent with something like a DAO. >retarded: AI on blockchain. That said, i really don't understand how it will be better or more efficient on a blockchain... please enlighten me if I'm being stupid. >greatest fear: blockchain is used to publicize the transactions of private entities and not public entities. essentially
Jeremiah Ward
I believe in the idea, and I want it to be real. But the chances of it happening are slim. I believe more in the technology than the true goal; the technology will succeed because the technology is superior to the banking credit/debit system.
I don't know if its possible for our world to fully adopt crypto without fiat, but at the very least it may give central banks something to think about the next time they want to massively devalue their fiat.
Brandon Richardson
It's not retarded, it's mathematically necessary. There are some full nodes running right now that would have to soon cease operations if the block size increased too much, due to an increase in computing, network bandwidth, and storage costs required to run it. This is by definition increase centralization in the hands of those who are rich and powerful enough to upgrade their hardware. This eliminates people in shit tier countries with limited resources. This eliminates poor hobbyists. And these people are very important for decentralization by definition
Second off, increasing the block size as the first solution is not a good scaling solution for network protocols. If you're aware of basic computer science concepts regarding algorithmic complexity and system scalability, a recurring theme is that throwing hardware at a problem is not really solving it, it's just postponing it
An 8x throughput increase by throwing 8x more hardware at the network may reduce fees now, but it's not actually solving any fundamental problems. This is the "solution" that BCash proposed. And they cannot implement Lightning Network which relies on the malleability bug fix implemented by SegWit, which they refused to implement to allow ASICBoost to continue being utilized by Jihan Wu, the owner of Bitmain, who didn't want his hardware to become obsolete. The vast majority of all BCH blocks are mined by two people, him and someone else
>Mfw someone told me to check out Bitcoin on Omegle in very early 2010 but I was 15 and didn't download it >I remember the conversation like a fucking knife in my side
FIUCUKKKKKKKKKKKKKKKKKK YOU
Jose Ward
It’s just transparent internet gold. Why would we go back to the gold standard?
Brayden Robinson
non-mining nodes don't do anything for you tho if you're not a merchant
Charles Reed
Favorite team: >Bitcoin, Ethereum, Monero
Want to see: >Private key based stock ownership with automatic dividend distributions >Widespread hardware wallet support to replace credit cards entirely, with both "cold" and "hot" hardware wallets >Second layer scaling solutions like Lightning Network
Retarded: >Shitcoins created solely to profit the owners >Centralized shitcoins that aren't even real cryptocurrencies, like Ripple
Greatest fear: >Centralized and castrated versions of cryptocurrencies gain mainstream approval first, maybe "FacebookCoin" that normies don't understand isn't a real cryptocurrency and they fall for it and real cryptocurrencies fall out of favor
AI on blockchain is not retarded but I know what you mean because you're right when it comes to heavy AI computation. We will not be using blockchains to train AI or process data, we will be using it as an intermediate trustless communication layer between AIs. For instance self driving cars will probably end up negotiating traffic routing using low latency (low mining difficulty) geographiically localized mesh network blockchains. It will increase the robustness and safety of the self driving car network dramatically and allow easy cooperation between different brands of self driving cars
Dylan Hill
It's not only merchants who benefit, it's anyone receiving crypto. And that is about half the network at any given time. All transactions involve a receiver. So that is very important. People need to be able to run their own non-mining full nodes
Justin Clark
The "network" is only miners.
Ethan Butler
It's not THAT big a deal
Minister YOU Satoshi
Luis Diaz
I was trying to shill some "referral" bullshit site that I was into to try and get an iPod because I was poor and my parents were poor. Anyway, I had just gotten a laptop a few months before so I was still new to shit on the internet but learning quickly. Was still torrenting, etc, so I recognised "P2P" but didn't understand it, and naturally P2P brought up connotations of viruses, hacks, etc, in my mind.
I remember the exact conversation and being confused thinking, "I'm supposed to be shilling you here", instead the guy was saying big words that I didn't understand so I checked it out but thought I was either going to get virus'd or that it was some stupid referral shit similar to what I was shilling. Said "I'm only 15" and the guy disconnected, lol.
And that, my friends, is how I fucked up my opportunity to be a very wealthy man.
Then I remember seeing it on (plebbit) years later when it first went to 1 dollar, then 30 dollars, and the rest is history.
God damn, If I don't make it eventually I'm going to fucking remember that shit forever and it will haunt me until I die.
I don't want to be one of these faggots with the "what if" stories, and "I knew about Bitcoin early BRO!"... it's sad and pathetic, but that is what I've been reduced to. For fuck's sake.
Evan Bell
Why do you think this user? Miners are slaves to the network, the users are the owners. Miners won't mine a blockchain unless it's the one users are using, and there are specific economic incentives (PoW) to make this be the case. This is a very important and critical aspect of the design of cryptocurrencies and the fact that people keep propagating this fallacy that miners take precedence over users shows a lack of implementation of both the implementation details of the network, and the purpose.
Hudson Stewart
We have that already checkout $evn
Owen Williams
It's okay user, plenty of others wasted theirs on drugs. Plenty of others wanted to mine but said "fuck it" and didn't bother
It's okay, we're still early. Barely anyone has crypto.
Jonathan Sanchez
sincerely hope you lose everything
Liam Rogers
wow, thanks for the insight - something kinda clicked for a lot of the smaller applications I didn't really understand why it mattered. If you blog or tweet, i'd be glad to bookmark or follow.
>>Second layer scaling solutions like Lightning Network what do you think about rsk.co/ ? gave me a lot of hope.
Aiden Peterson
>It's okay, we're still early.
Luis Turner
Users don't need to run their own nodes. More importantly, why would they run their own nodes when you move everything off chain to the LN?
Josiah Brown
>MSM >regulations >idiots These are the three demons you must slay in order to make cryptos successful.
Leo Thompson
I’m jaded af by people like you in crypto. The community seems flooded by pumpers and idiots. I’m also jaded by grand promises with little to show. I pray for a long, corrective bear market
Ryder Green
youtube.com/watch?v=_PFND6IqwUg anybody have the pic of cliff high with glowing eyes that was poster here within the last 24hrs?
Carter Harris
You can be philosophically idealistic towards a certain projectt ot business but never mix your idealism with your investments OP. Keep those two separate if you want your portfolio to grow.
If you truly are philosophically, emotionally or idealistically invested, then participate in the project with your two on hands to help something grow. Otherwise, separate investing your money in your portfolio from your idealism and philosophical leanings.
Ethan Miller
"Thank you Satoshi"
Leo Sanchez
why are you on biz then? you hate moneY?
Jeremiah Kelly
Thank you Satoshi
James Kelly
God you normans are such disgusting, cretinous leaches. I pray every norman like you loses every fucking cent you own, you should be BEGGING for your next meal.
Robert Foster
"Thank you Satoshi"
Lucas Cox
We're not moving everything off chain to LN, and they do need to run their own nodes to trustlessly validate transactions with 100% uptime, not trusting third party authorities
Levi Cruz
"Thank you Satoshi"
Colton Hall
kys.
Josiah Walker
I'm not too interested in Bitcoin, but I'm incredibly enthusiastic about Ethereum. Tamper-proof mathematically secure code is a mindblowing value proposition. It's a Trojan's horse for a lot more people to be exposed to the benefits of open source. Transparency and free exchange of ideas are fruitful for society. Trustless programmable money has endless interesting properties, and it's the biggest step we can take towards a meritocratic libertaniarish future of one man creating value all on his own. Holy wordsoup, but idk how to express it otherwise without making a blog-sized rant out of it. In less pompous terms, shit is awesome and my technologically illiterate ass stopped everything to spend all day learning and playing with Solidity. People around me believe I'm in it for the money, and I encourage them to think I'm trading actively and planning to cash out. In reality I play with dapps all day and I have no intent to use ether out of the ethereum network.
Hudson Rodriguez
Thank you satoshi
Charles Evans
Thank you Satoshi, your mother will die in her sleep tonight
Leo Perry
This is good advice. Still, if you approach your investments from a systemic point of view (i.e. Thiel's 7 questions for a successful startup) and the answer happens to fit with the project you're idealistic about, you're good. Investing is always a winner takes all game, ultimately.
If you look at the serious projects: - Bitcoin has no governance - Monero has funny governance - Ripple is business average - Cardano's Charles Hoskinson and Eos' Dan Larimer are both above average, but they're not playing at the visionary level and they're more or less alone in their project
You're essentially left with: - Stellar's Jed McCaleb, who is notoriously unhinged in the way geniuses who deliver can often be. Problem is, nobody has been able to catalyze him so far and the existence of Stellar itself is the manifestation of that failure. - Ethereum's Vitalik Buterin, who despite his youth is the most pragmatic yet visionary type in the whole space. More importantly, he's got a many other great minds aligned with his vision. While Ethereum doesn't follow traditional successful startup structure in terms of centralization and focus, the shared purpose is there.
William Lewis
I was also blown away when I learned about Ethereum in 2016. Definitely the next big step to changing the world with DLT. Wish I had the courage to jump in and buy when it was sub-$10. As soon as I saw projects like LINK aiming to bring smart contracts beyond tokenization, I was floored. I honestly thought this tech would take until at least 2020 to come to fruitiion, but it could actually happen in the next 12 months. If we truly see tamper-proof, censorship-resistant, unstoppable smart contracts become mainstream, it's going to change the world as we know it
Angel Peterson
>writes good post >ruins it with faggy mother die in sleep le meme
Faggot.
Anyway Satoshi explained this shit really well in this post. Dapps is the real deal (currency is just one possible function of dapps).
A completely public, auditable machine rather than some shit where some faggot can make a judgment call and fuck you over. That is the value
Adrian Cooper
>>Private key based stock ownership with automatic dividend distributions
You mean what stakenet xsn created called tpos
Jeremiah Evans
obligatory thank you NSA or whichever gov. organization spawned this money laundering spiel
Kevin Kelly
Thank you Craig Wright
But I don't like to thank people, I like to be better than them
Andrew Bell
Yes. Crypto is the end of credit and debt. Jewish controls over Christian nations.
Sebastian Smith
I see it as a way to separate state and finance like church and state needed to be separated. Governments and politicians are buying votes with their printed money. This practice will be seen as barbaric and laughable when im an old man due to crypto
another thing is i believe men will take back control via this new tech and it will usher in the death of feminism and bolshevism
Chase Reed
>we have solved the problem of human trust by giving up on it entirely instead of building stronger and more ideologically homogeneous communities because my humanities professor told me that communities are racis cisexist and that we need to smash the patriarchy now! #religionofpeace
Mason James
i hope for a long protracted bear market so fucks like you bleed out for years and give up, that’s when well start making progress
Blake James
I think the tech behind it is fantastic. Bitcoin and the alt coins may not survive, but as an experiment, they're great. They're getting too manipulated in my opinion, like everything these days, but you have to expect that - new tech is always targeted by the scammers at some point. I don't see the tech replacing the huge institutions that run the world any time soon, but this work needs to be done, as foundational stepping stones towards the future. If I were 18 and were into coding and math, I'd definitely be looking into jumping into the crypto world at the code level, it's job safety. That's why it's nice to not be emotionally attached to the greed side of crypto. I look at it pragmatically, and it's existence is a good thing. What the future brings, I have no idea, but I do think the tech being invented and evolved right now will still be there, in some form or another. It's too useful to be cast aside.
Nicholas Walker
If crypto really takes off but I lose all of the money I've got invested in it then I'll still be happy.
I'm link because I genuinely believe in it.
Asher Thompson
Nobody ITT has posted anything but baseless hype. Fair currency is obviously the most important potential of crypto, but it may or may not happen. Anything else, namely turing complete smart contracts, are a big question mark. Would smart contracts replace stock and derivative markets? I don't see that happening. Trusted third parties are a thing for a reason, and giving up control to a smart contract instead of a legally monitored entity has obvious risks. In most of these major cases the smart contract would also be less efficient than a centralized trusted authority. Considering you need to pay the validator nodes to use a crypto platform, I don't see it ever becoming cheaper to setup a smart contract instead of just getting legally verified.
Smart contracts will probably remain a small-time thing instead, for deals between two random people and not between people and large players or between large players and large players. We'll probably have pre-made and audited smart contract templates for delayed payments for example
Austin Morris
I assume you mined btc back in 2009 then? Or are you just joining now along the rest of the normies?
Cooper Sanders
I posted no baseless hype. I think blockchain tech has endless amounts of use, on a industrial scale alone - look at the shipping companies adopting it for tracking cargo. That's fucking awesome.
I don't see bitcoin replacing currency, or the underlying mechanics of Wall Street, in our lifetime. That stuff is too embedded, and they have too much invested, and they have complete control of it, and they will have to be forced practically at gunpoint now to change, any change. And, crypto is not replacing the Fed, and banking systems, for the same reason, the amount of power there is too great for anyone to even think about it being replaced, until the banks themselves figure out how to use the tech to their own best benefit. This idea that cyrpto is going to free you from "the jooz" in your lifetime - that's childish thinking. But you know major corporations are looking at blockchain tech for any number of industrial solutions.
Brayden Collins
If you got on so early then you probably rich now yourself, sounds like you just don't want your fellow anons to make it.
Caleb Jackson
why don't you bcash retards just echange usd, where the network is only banks? You niggers don't understand crypto at all. Miners are just part of the network.
Adam Ross
This reminds me of discussions about the internets usefulness in 1998. It's pointless because the innovations in the next 10 years will blow your mind and render all your points moot. Blockchain tech? You've seen nothing yet.
Jacob Parker
>And, crypto is not replacing the Fed, and banking systems That's exactly what it could do when the USD collapses. It could also not happen, but it's certainly the most promising aspect of DLT, not the non-monetary applications. If you aren't handling something scarce (that is, not just any copyable data) then there's little reason to strive for complete trustlessness with DLT. Just think web servers, there's little reason not to trust Amazon with your website, since the worst that could happen is Amazon copying your private data - they'd get into massive trouble for that, and they still can't steal your funds because they're stored outside of Amazon. Your funds are the scarce asset you have to be careful with, and most of the time you don't need to combine them with the service you're interacting with. Basically what I'm saying that most use cases people offer for dapps are unnecessary. A dapp is usually only useful if it needs to handle scarce assets directly, and those use cases mostly entail trading only.
Another use case for dapps is handling legal data, but that's not profitable from an investing perspective. Most use cases of DLT and dapps are bad from an investing perspective. The only thing that could get really profitable is investing in a crypto that has a shot at becoming widely popular as an alternative currency. Anything that derives its value from strict utility alone is not gonna be profitable because the tokens are an artificially scarce asset. If your platform requires 1 token to use but the token price rises from 1$ to 100$, you either have to lower the amount of tokens required or have your platform die
Indeed, I've seen nothing. 10 years. Internet allowed you to send any data anywhere in the world in real time. The implications of that shouldn't have been hard to grasp back in the time. DLT can mostly just send scarce value, and unless it takes off as a currency it's not gonna be much more than a useful gimmick.
Owen Carter
That was a big rambling post and not specifically pointed at you anyway. The tech is obviously gonna exist in some form but like you said the only way it could be interesting from an investment perspective really is if it takes off as currency. Which is not impossible. But the other applications of DLT will only benefit you if you indeed work as a programmer or invest in future companies using DLT
Gavin Roberts
>and it will usher in the death of feminism and bolshevism
Isaiah Campbell
yes. it's not so much that I even want cryptocurrency to end up becoming a black hole for global wealth because it could have bad consequences for a lot of people. but it's a freight train headed at a pile of snow, I have to be acquiring it out of a desire for self preservation