Year 2035 - How will you explain yourself

Its the year 2035, you come home from work where you earn 120 Satoshis an hour.
A thought enters your head, you remember how you used to shitpost on a Bangladeshi ukelele board about cryptos.
You were trading like a pro, drawing all kids of triangles on any chart you could find.
Your portfolio consisted of 30 shitcoins that all disappeared by now.

You ask yourself, how dumb could you have been that you did not see Bitcoin succeed and didn't hold any of them.
You ask yourself, how did you not realise that Lightning Network, Blockstack would make most of the shitcoins obsolete.

So user explain yourself, why are you to dumb and dismiss the strongest crypto?
-Most Fiat on/off ramps by far.
-Most diverse app space
-Most free Media, normies now Bitcoin, they don't want to here why ShitcoinXY is better, just like no normie wants to hear why Ubuntu has a better philosophy behind it
-44.5% of market of the whole Crypto marketcap
-Tons of devs are working on the development on new features for it

Bitcoin Will be the new World Reserve Currency,
By 2025 each bitcoin will be over 1M$.
By 2035 each bitcoin will be over 10M$
Screencap this user.

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Other urls found in this thread:

unenumerated - A Comprehensive Guide for Noobs.pdf

Screencap this yourself, you dumb fuck

yeah but when new reserve currency? and what price @ 2020? whats the cost of everything else compared to btc? how many is enough to make it?

>implying you won't be slaving for DOGE in the Neo-Satirist-Facist People's National Sulfur mines

your IP has been logged, you will face the consequences

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Bitcoin is the king. Never bet against Bitcoin long term.

from 8500$ to 1m$ in 7 years, thats 96% increase each year.
Thats not high enough? you think you can outperform this by trading shitcoins and shilling them everywhere with a squad of pajeets?

> muh Chuckie cheese tokens will be one world currency
> the chuckle cheese tokens that I specifically invested in, amongst the thousands of better choices will be this currency
> somehow a stable economy forms around a deflationary currency that can only handle 7 transactions per second and costs 10USD+ per tx
> and somehow buttcoin is made safe enough that the masses can use it without being scammed
> that's how I'll be rich by being a cyber squatter

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>you think you can outperform this by trading shitcoins?

- Bitcoin has currently 1-5 cents fees per tx, reason for that is the addopted SegWit, Lightning went life, and CoinBase started to batch transactions. Lightning will allow for INFINIT tx/s. So 100M tx/s

-We Had a stable world economy around a deflationary currency until the 1970 brainlet.

-Its is already safer that anything else, there will be plenty of Crypto banks that insure the holdings of normies.

-Yep thats how I will be part of the new world Elite, screencap this fag.

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Satoshi agrees aswell

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Ill probably be dead by then anyway. So my time value of money is much higher.

No doubt Bitcoin is the best unless you're a newfag, but shitcoins have better ROI

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So McAfee won't eat his dick on TV? :(

Current USD hard supply is a couple trillion, but due to fractional reserve banking everyone thinks they have 10x more USD than than actually exists. So the broad supply of USD is ~$25T.

Fractional reserve banking will probably never catch on with bitcoin, due to it being deflationary, and not requiring costing security to store like banks require to keep cash safe.

So if you compare the broad money supply of USD, $25T vs bitcoins total supply of 21m (but actually closer to 16m due to lost / burnt tokens), you'd be looking at one bitcoin eventually being worth $1.5m of today's USD. If bitcoin takes over as the world reserve currency the exchange rate would likely have bitcoin many times higher, especially when there is a panic rush to convert USD to bitcoin.


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Are you all-in on BTC? If not, why not?

It is the best "cryptocurrency"
Definitely not from a technical perspective. But from a network effect and first movers advantage. BTC and LTC are the only Cryptocurrencies with long run potential. Maybe XMR. But it will never have mainstream usage. It is at its peak already.
However Utility tokens will probably be a much larger market than Cryptocurrency which is a very niche product with limited uses.

Not "all in", because I think there is still a chance government retaliate against crypto providing some really good buying opportunities. But I still am holding most of my bitcoins.

Forgot the mention. that is the baseline for what bitcoin would be worth if it became the world reserve currency like USD. If it became a world universal currency (EU, China, etc. used it too) then the value would be much, much higher.

>Definitely not from a technical perspective.
Um, yes it is. First layer is supposed to be secure. Bitcoin is the most secure blockchain in the world. Second layer is supposed to be fast. Lightning Network is instant.

>However Utility tokens will probably be a much larger market than Cryptocurrency which is a very niche product with limited uses.
All of it will be second-layer solutions built on the Bitcoin protocol

Government retaliates against crypto/blockchain/ico/scams/erc20. Government is on board with Bitcoin cause it's too late to stop it

BTC dominance will not return to previous heights. Too many legit alt coins now.

bcuck spotted.

It just went from 30% to 45% in a couple of months bro. Most "legit" alt coins will go down A LOT. Just because you're a legit company, doesn't mean your mcap should be 1B. All of this money will go into BTC and rest of the shitcoins will be negligible. At least 95% BTC

>All of it will be second-layer solutions built on the Bitcoin protocol
No. if you saw what led to the creation of Eth you would know how silly this is....

You mean retarded kid who wanted to implement Turing complete on the first layer? Your hype boy is a meme, and RSK sidechain will remove the need of ETH


You're welcome to explain to me how Ethereum is better than second-layer smart contract solutions. Ethereum lost all its credibility during the DAO incident, and you can't have a serious platform where the consensus follows a Proof of Vitalik system

Or just invest in BTC and ETH... Even a modest investment in both will pay out huge when either one makes it.

Same reason BTC has any use. Because it became the norm for it. BTC has too much of a problem reaching any proper consensus to ever catch up anyway.

You're talking like they have an equal chance of making it... Ethereum is just hype. They built a smart platform contract too early: no one used it for anything useful. The few legit companies that use ETH for token distribution could've used coloured coins on Bitcoin. Ethereum is literally useless and is governed by a kid

No... Bitcoin is not the best coin because it's the norm. Bitcoin is the only one that had actually intelligent people behind it. You don't see it, because it's not meant for the public to see.

>BTC has too much of a problem reaching any proper consensus
If you don't have a problem reaching consensus it's because you're not decentralized. Bitcoin works as intended even if you don't get it

I agree that BTC will probably win out, but even if ETH looses vs BTC it will probably still exist as an alternative and be worth more than it is now.

Checked. Aside from my cardano stack all my shitcoin holdings are for the sole purpose of acquiring more bitcoin

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I dont care about intelligent people I care about the products. Obvioulsly a product that was tailored to an already existing market would have technical advantages over a slow to adapt tech demo.
>If you don't have a problem reaching consensus it's because you're not decentralized
No. You are confused here. The blockchain in and of itself is decentralized and must be for it to be effective. Decision making, if at all possible should be dictated to node operators from a governing force. I dont give a fuck about your ancap politics. Democratic decision making is obviously a con on any real project.

It won't exist as an alternative. There is no purpose to Ethereum. It has a broken governance and all it ever did was being the laughing stock of the community: ERC20 tokens, The DAO, Cryptokitties, etc

The only one that is sure to exist as an alternative is Monero, because you can't build privacy on second-layer, and no other coin is anywhere close to Monero.

>By 2025 each bitcoin will be over 1M$.
>By 2035 each bitcoin will be over 10M$

The broad money supply of the entire world is about $90 trillion. Gold itself has a market cap of $7 trillion, and the global stock market is valued at $72 trillion. Saying BTC may be worth ~$20 trillion is one thing, but to say it may be worth ~$200 trillion is fucking retarded. More interesting facts:

>Global Real Estate Market Cap: $215 trillion
>Corp and Gov't Combined Global Debt: $215 trillion
>Oil Market Cap: $100 trillion

Good fucking luck, retard.

>I dont care about intelligent people I care about the products.
Bitcoin is a first-layer protocol for trust-minimised financial transactions, smart contracts, and other infrastructure that requires decentralization and immutability, including world's reserve currency. On top of Bitcoin, we'll have second-layer solutions to enable payment systems, micropayments, cloud storage, cloud computing, voting systems, history registry, patents registration, and others. Many of these are far into the future. That's the product.

>ancap politicap
It's not ancap lol. Bitcoin is meant to remain socially scalable, meaning that it can scale in an inclusive manner for the world's population. It's not meant to remove the government, it's meant to minimise the trust that government will enforce the rules on everybody equally i.e. smart contracts. Being socially scalable requires you to be decentralized and hard to govern to fulfill the purpose. Actually, I suggest you read this unenumerated blogspot co uk/2017/02/money-blockchains-and-social-scalability.html as Szabo can definitely explain Bitcoin better than anyone in the world

this lmao
Every project shills their product and white paper like they are the next thing
Solving everything that other faggot project doesn't
>we are betting on 1 or 2 of them
Out of thousands
Fuck this, why am i still here with these gamble degens

Lightning network is bad and you should feel bad

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but, will the gpu prices ever be the same?

Usage is down. Transactions are down. Outputs are down. LN holds about 4 btc in total liquidity and was ddos'd already. The more nodes it gets, the more fragile it becomes. It doesn't scale. Despite most major crypto entities activating segwit, it remains at 30% adoption. No one uses BTC other than to buy and sell shitcoins with. Merchants are dropping btc.

Come back to the adoption model, the real life cash model. BCH will be the cash of the world. Don't take my word for it. Sift through the trolls and find the real work being done by many different people. It's like the old days again. Hundreds and hundreds of people all building their apps ontop of bitcoin cash.

Blockchain isn't the revolution. It's just a means for the cash revolution.

Look up CoinText. Its public beta is in 2-3 days. It will allow anyone to send BCH to anyone else in the world via phone network texting, all done on chain. No internet, no smart phone, no app required. Just something that can text and a cellular network.

I originally came here for the shitcoin gains, but I found something much bigger with bitcoin cash. Take 5 minutes, suspend the doubt that's been engrained by anti bch troll armies, do some reading, talk to some people who are working on their own bch applications.

/end rant

Lol, cashies on suicide watch considering ltc has more tx's


>1 MB
2 MB-ish. If all transactions in a block are Segwit-enabled, you get maximum 12195/block theoretically, so 525600 / 10 * 12195 = 640,969,200 ≈ 600M

This is too optimistic in practice, but you're calculating a theoretical limit

>Third layer channel

The point of those third layer solutions is that people won't need to open a channel anymore. People connect to a bridge node that is already on LN, so it scales to any number of people. Also, channels may be open for many years.

>how can the bank afford to give out $25T if there are only $3T in existence!

Maybe there are other ways besides fractional reserve too. Have you tried asking in #lightning-dev or #lnd

>still uses first layer for transactions
Everyone will be laughing at your outdated tech by 2019

The biggest problem is liquidity.

Even if their magic wand makes channels free to open and close and rebalance, at the very best, someone with $2000 deposited in LN will be able to send ~$80.
That's with some very generous assumptions, it could be much lower.

Fractional reserve???? you can't be fucking serious! Now 80%+ of the BTC on LN network will be fake???? THAT'S NOT TRUSTLESS. It's not peer to peer. and it's not a currency when you'll lose all your money with a ddos on the fractional reserve bank

ask them yourself, I don't need to . I know the only theoretical way around the problem is by making bitcoin a trustful funny money central reserve system. which destroys 99.999% of bitcoin's value proposition.

First layer can support as many 2nd layers as you want to throw at it. Technically tippr bot on Twitter and reddit is a second layer. You could make your own LN on bch if you wanted, and I'm sure people will. The point is you aren't forced onto a specific 2nd layer by a crippled first layer and then censored if you disagree with that design choice.

It'll be a fractional reserve bro sorry. Szabo already conceded it.

It'll just be a more reliable/robust/open form of fractional reserve because the first layer is open, immutable, and auditable. That's the compromise

holy shit lnders are deluded

Dude fuck off. The point is that first layer is sacred. If your first layer increases by 500GB/year, then people can't download it anymore. In several years it'll be centralized and therefore not trustless. No one will be able to host the ledger anymore. It'll be hosted only by a few parties, and they can adjust it at will. Bcash has nothing to do with Bitcoin. If you want to scale the first layer, go wild, but you can't touch Bitcoin. In 20 years from now, do you think anyone will have Bcash entire ledger? Or Nano that tries to scale to infinite transactions? No. Everyone will host pruned nodes and there won't be any trust to these systems.

Bitcoin wants something else. LN is a solution for fast payments and it's still better than any delusional first-layer solution

What do you want? The point is that it'll serve as a reserve currency that can be audited. You only need to audit the first layer which will be used by banks. LND helps getting adoption and moving the ecosystem to bitcoin, it's not meant to maintain all the principles of Bitcoin because it's not possible

We all know this.

Everyone trades shitcoins to build more BTC

>I originally came here for the shitcoin gains, but I found something much bigger with bitcoin cash
Wow, totally convinced, you do not sound like a cult member at all!

Literally the point to move from central reserve to a decentralized reserve with built-in inflation control. You can't have cash powering the entire world without a fractional reserve. That's shitcoin territory like delusional cashies. You need to have a reasonable vision to make it work.

And this is not the entire point of Bitcoin. It's just the currency part. The smart contract part is still to come

I want a better pascalcoin
i have other things i like, but there's no point in just ignoring the idea.

ledger stays a static size because it prunes old sit and keeps balances secure.
Why worry about all this 2nd layer bullshit when you can just fix the core problem?

i tried the wallet though and it looks like the devs don't know what they're doing

>>ledger stays a static size because it prunes old sit and keeps balances secure.
So you compromise on... immutability, auditability, trustlessness, openness, and pretty much everything else?

How will people 50 years from now know that we didn't cheat the system? Why would they trust Bitcoin if it's pruned? I wouldn't. It would be a useless slow database that can't do shit.

They'll probably make another shitcoin that "solves the Bitcoin's trustfulness problem because now we have enough memory not to prune the ledger!"

New pascal wallet is in development. I have high hopes for it.

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a fractional reserve destroys all of that lmao even worse. Every layer needs to be trustless, not just one of them.
But if all consensus nodes agreed on the pruned ledger, why would that matter outside a 51% attack?

i couldn't figure out what my public key was from the wallet... do you know how it works?

In 2035 I'm fucking 40 years old If I'm not a millionaire by then I probably would have offed myself before

Well it did 2000 % in 2017

> - A Comprehensive Guide for Noobs.pdf

You need to generate the key pair first. Make sure to select secp256. Secure your account with a password, then copy the the public key and go to discord or telegram and use the getpasa bot. Let me know if you need more help.

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this shit remembers me of religion.

muh god is the right one amiright? what u gonna do when you are in hell

user, they also have a new wallet which probably explains it better than the pdf i linked

>a fractional reserve destroys all of that lmao even worse. Every layer needs to be trustless, not just one of them.

The fractional reserve part is still a million times more trustless and less opaque than any other payment system. Just check the mempool, have other peers monitoring the payment chanel (decentralized watchers ) etc.You can see audit transactions in the LN and how much each node is messing around with. You can't have everything like Bcash believes.

>But if all consensus nodes agreed on the pruned ledger, why would that matter outside a 51% attack?

If you prune the ledger you remove PoW that secures the network. You delete transactions that used to exist. There's no longer a proof you paid someone at some point. Do you want to use Bitcoin for timestamping patents? You can't, because the network is no longer immutable and your transaction will be lost. Do you want to prove you paid someone at some point? Can't use Bitcoin (or any other blockchain for that matter) Do you want to make an international deal via a smart contract and have a historical record? Can't use blockchain: use a centralized solution instead and go back to the old system.

Bitcoin protocol is secured by PoW from genesis, by nodes who archive and validate all transactions, and by a decentralization system that spans the entire globe thus making it uncensorable. If you prune the blockchain you handicap the system and you no longer have a solution for all that Bitcoin is set to solve. There are trade offs in all systems, and Bitcoin is the only one that cares about immutability and security. It's better than anything we've ever had in history