Crypto Currency Thread

[Lemming Train]

Does anyone have a spare tinfoil hat? I think I need one in this thread now.

[anonymous-user]

tertius said:

dimots said:

Some Gump said:

What are the privacy benefits? Within a legal framework i don't understand them. It can't be mail order dildos because they'd have your address. It can't be porn because your ISP can track you down. Hell, given the public ledger and how they caught the silk road people, I'm not even sure it's private!

So aye, what is the benefit of a private.transaction for any legal purpose? Real benefits please, not hypothetical zombie apocalypse / government goes rogue scenarios!

I can't believe we are this far into this thread and people are still asking questions like this.

Condi creates a new wallet. He can post it on here.

I create a new wallet. I can post it on here.

I send btc from my wallet to his. We can ALL see it move. It is recorded for all time on the blockchain and can be viewed at blockexplorer.com or blockchain or wherever.

The transaction is PROVEN.

The transaction is ANONYMOUS.

Pretty cool huh? This is how internet payments are supposed to work.

Whilst that is all true and I agree rather amazing, it does not in any way answer his question for WHY you feel privacy is so critical for this specific use case. Especially since the only requirement is a transfer from one individual to another.

Because there are three types of people who believe in Crypto.

1)The tin foil hat wearers who believe that Fiat is worthless and have some issue with governements and banks.
2)The people who are speculatively trying to make Fiat (ironically the one thing that Crypto is ment to replace).
2)Criminals who sell drugs or want to transfer dodgy money.

for everyone else Crypto is completely useless and way more complicated, slower, risky and volatile than just transfering money using online banking.

Then you have the underlying blockchain technology which is going to revolutionise the way we live just as soon as someone can actually work out a use for it.

[EddieSteadyGo]

dimots said:

Paying a bet made with a hostile third party on an anonymous internet message board with any method of payment that reveals your identity is 'bonkers'.

You are overstating your self importance. Whilst we all need to be careful with our data, the care needs to be proportionate to the risks involved. Exposing some minor personal details to Condi is inconsequential - you know full well it won't cause you any harm, so hiding behind this type of reason is just obfuscation.

I genuinely think if you do this properly you might just earn some respect from Condi and other members here by showing yourself to be an honourable person.

[dimots]

EddieSteadyGo said:

You are overstating your self importance. Whilst we all need to be careful with our data, the care needs to be proportionate to the risks involved. Exposing some minor personal details to Condi is inconsequential - you know full well it won't cause you any harm, so hiding behind this type of reason is just obfuscation.

I genuinely think if you do this properly you might just earn some respect from Condi and other members here by showing yourself to be an honourable person.

Thanks for telling what to do and think, I appreciate it.

[EddieSteadyGo]

dimots said:

EddieSteadyGo said:

You are overstating your self importance. Whilst we all need to be careful with our data, the care needs to be proportionate to the risks involved. Exposing some minor personal details to Condi is inconsequential - you know full well it won't cause you any harm, so hiding behind this type of reason is just obfuscation.

I genuinely think if you do this properly you might just earn some respect from Condi and other members here by showing yourself to be an honourable person.

Thanks for telling what to do and think, I appreciate it.

Always happy to help

[anonymous-user]

p1stonhead said:

Joey Deacon said:

dimots said:

Joey Deacon said:

Ethereum about to drop below $100?

Current cap for Crypto is $121.5 Billion, think we will see $100 Billion by new year?

I would think so! I think it is good news overall, I feel like the hype and over-valuing of ‘crypto’ (I personally only have any interest in bitcoin) holds it back from being able to take risks and develop as it should. I would like btc scaling solutions and more user friendly applications to be developed before the next boom cycle. I think 2019 will be an interesting year.

Ethereum at $85, can I change my estimate of a $100 billion market cap to Monday please?

BTC $3000 by Monday too?

Wheels finally coming off this worthless crap?

Sorry to be a pain, can I change my estimate to the end of today please?

[p1stonhead]

Joey Deacon said:

p1stonhead said:

Joey Deacon said:

dimots said:

Joey Deacon said:

Ethereum about to drop below $100?

Current cap for Crypto is $121.5 Billion, think we will see $100 Billion by new year?

I would think so! I think it is good news overall, I feel like the hype and over-valuing of ‘crypto’ (I personally only have any interest in bitcoin) holds it back from being able to take risks and develop as it should. I would like btc scaling solutions and more user friendly applications to be developed before the next boom cycle. I think 2019 will be an interesting year.

Ethereum at $85, can I change my estimate of a $100 billion market cap to Monday please?

BTC $3000 by Monday too?

Wheels finally coming off this worthless crap?

Sorry to be a pain, can I change my estimate to the end of today please?

[Condi]

Whatever number of bitcoins the bet is paid in, by the time I've cashed them out they'll be worth half of what they were at the start .

[p1stonhead]

Condi said:

Whatever number of bitcoins the bet is paid in, by the time I've cashed them out they'll be worth half of what they were at the start .

Or double.
Or a quarter.
Or 7 times more.
Or a tenth.
Or all of the above in an hour.

Hence why it’ll never be anything more than a silly gamble.

[Lemming Train]

Condi said:

Whatever number of bitcoins the bet is paid in, by the time I've cashed them out they'll be worth half of what they were at the start .

That's why you should have insisted on the difference be paid in USD (or GBP eqv) rather than (about to be) worthless BTC.

[emicen]

It’s genuinely horrifying to think at this time last year people were cashing in pensions, and even selling their houses, to put in to bitcoin.

[p1stonhead]

emicen said:

It’s genuinely horrifying to think at this time last year people were cashing in pensions, and even selling their houses, to put in to bitcoin.

It certainly got to the maina phase. Someone I know put loads into lite coin and some other one i have not heard about since. He didn’t even know what they were or how they worked.

[dimots]

You may not believe this, but I know of people who have never owned a single bitcoin, have never made a penny of profit from bitcoin, yet who proclaim they did the right thing all along by not buying bitcoin because they knew what the future held :-o

Of course we’re not all of the way through the future, only part way through, so things could change.

It’s a crazy world right?

[Condi]

dimots said:

You may not believe this, but I know of people who have never owned a single bitcoin, have never made a penny of profit from bitcoin, yet who proclaim they did the right thing all along by not buying bitcoin because they knew what the future held :-o

I've never owned a single bitcoin, yet seem to have done the right thing.

[dimots]

Condi said:

I've never owned a single bitcoin, yet seem to have done the right thing.

But how is that the right thing? I don’t get your logic. Doing nothing is better than doing something? Do you just sit on the sidelines of everything doing nothing waiting for things to go wrong so you can say ‘glad I wasn’t part of that’. It makes no sense to me.

Get involved with everything and ride the ups and downs. That’s what is exciting about life.

[p1stonhead]

dimots said:

Condi said:

I've never owned a single bitcoin, yet seem to have done the right thing.

But how is that the right thing? I don’t get your logic. Doing nothing is better than doing something? Do you just sit on the sidelines of everything doing nothing waiting for things to go wrong so you can say ‘glad I wasn’t part of that’. It makes no sense to me.

Get involved with everything and ride the ups and downs. That’s what is exciting about life.

Not buying into a scam is doing nothing for sure, but it’s better than doing something.

[dimots]

You think bitcoin is a scam? I mean, seriously. You really do?

[MWM3]

dimots said:

But how is that the right thing? I don’t get your logic. Doing nothing is better than doing something? Do you just sit on the sidelines of everything doing nothing waiting for things to go wrong so you can say ‘glad I wasn’t part of that’. It makes no sense to me.

Get involved with everything and ride the ups and downs. That’s what is exciting about life.

You talk about niot understanding logic,. you are definitley right about that!

Your thinking would suggest particpating in murder and rape is a good thing or at least better than doing nothing!

[p1stonhead]

dimots said:

You think bitcoin is a scam? I mean, seriously. You really do?

Maybe not a ‘scam’ in the traditional sense but certainly sold as something it’s not. It’s not and will probably never be a viable currency because it’s wildly volatile and all that has happened is that people have hoarded it hoping to get rich.

The only thing that has happened is that a different set of people may end up rich out of it rather than traditional currencies. The only benefit I have ever heard touted is that it’s anonymous. How often do normal people care about anonymous transactions? Never.

Imagine it being taken up widely. I mean seriously. Imagine the average person actually bothering to figure out how it works and trying to buy stuff with it. Imagine the average over 60 person ever figuring out what it even is.

This article kinda sums up how I feel about crypto’s

https://www.forbes.com/sites/jayadkisson/2017/12/2...

“Scammers are intentionally pumping the value of Bitcoin much higher than it deserves to be so that they can then unload their Bitcoins on suckers who are willing to jump at what is being pitched as “the next big thing” that they don’t even understand.”

“It’s actually a Ponzi schemer’s dream: Something that most folks don’t understand, but are being lead by media buzz to believe it is the next big thing.”

Edited by p1stonhead on Friday 7th December 19:38

[dimots]

MWM3 said:

You talk about niot understanding logic,. you are definitley right about that!

Your thinking would suggest particpating in murder and rape is a good thing or at least better than doing nothing!

I understand logic enough not to be trapped by a logical fallacy.