cryptocurrency

[Baugi]

Originally Posted by yyrkoon [You must be logged in to view images. Log in or Register.]

just because you tards have no btc doesn't mean it's worthless. whoever said good luck getting $9500 for it today, it's trading for $9500-$9600 today on every major exchange.

also don't underestimate the fact that there's only 21 million btc potentially available (when all of it has been mined in about a hundred years). there's 7 billion people today, 1.5b in china alone.

TLDR: you will get laid before btc crashes

smilin hard

stay poor

All it's going to take is one good attack. It should probably concern you that they've already had to fork several times to head off serious issues with the protocol. Also that security researchers have published relatively unfixable DoS vectors.

I'm happier stuffing my salary into my mattress personally.

[yyrkoon]

Originally Posted by Baugi [You must be logged in to view images. Log in or Register.]

All it's going to take is one good attack. It should probably concern you that they've already had to fork several times to head off serious issues with the protocol. Also that security researchers have published relatively unfixable DoS vectors.

banks are being robbed / hacked into / defrauded since banks exist. everyone still uses banks. also banks are much, much more vulnerable to dos than the bitcoin network.

they've forked? who are "they"? what did it to to bitcoin? not much except boosting its price.

you can fork the bitcoin chain today, it takes a couple days to learn how, from scratch. just like you can create your own paper currency today. it won't matter unless people actually attach value to it (which is a whole different story).

I'm happier stuffing my salary into my mattress personally.

glad we both are happy

[HippoNipple]

Originally Posted by yyrkoon [You must be logged in to view images. Log in or Register.]

banks are being robbed / hacked into / defrauded since banks exist. everyone still uses banks. also banks are much, much more vulnerable to dos than the bitcoin network.

they've forked? who are "they"? what did it to to bitcoin? not much except boosting its price.

you can fork the bitcoin chain today, it takes a couple days to learn how, from scratch. just like you can create your own paper currency today. it won't matter unless people actually attach value to it (which is a whole different story).





glad we both are happy

The difference is if a bank gets robbed you still get to keep your money. Their are also measures enforced by the government to keep your money safe in case of bankruptcy (FDIC and SIPC). Bitcoin has investment and security risk. It has paid off to take that risk.

[fash]

Originally Posted by Forum Cuck [You must be logged in to view images. Log in or Register.]

stuff like this is why I will never spend 1c on bitcoin

it has been a giant scam since day 1 from some really smart Japanese guy and its an extremely cool concept

should something like this come out from a real financial agency and be regulated by a real entity it would be super cool

people offer me bitcoin all the time and I say if its worth money go sell it and pay me in USD or RMB

All the schemes mentioned in that article (I skimmed) are really old school practices of manipulating security prices, not just cryptocurrencies. Any dilettante trader has to be aware of them to manage risk because they happen in any market (granted they are overseen by govt bodies that effectively mask the volitility e.g. the SEC in the US tries to crack down on such practices). The difference is it's billionaires, not millionaires.

[Baugi]

Originally Posted by yyrkoon [You must be logged in to view images. Log in or Register.]

banks are being robbed / hacked into / defrauded since banks exist. everyone still uses banks. also banks are much, much more vulnerable to dos than the bitcoin network.

they've forked? who are "they"? what did it to to bitcoin? not much except boosting its price.

you can fork the bitcoin chain today, it takes a couple days to learn how, from scratch. just like you can create your own paper currency today. it won't matter unless people actually attach value to it (which is a whole different story).

I think you misunderstood what I meant by "dos" (which is fair, I didn't give much detail). I don't mean flooding some node with packets. I mean attacking transactions and transaction histories such that making and storing transactions becomes computationally infeasible. With a sufficient share of miners, you can also abuse the consensus protocol to invalidate a correct branch of the chain. Ect.

There's not an appropriate banking analogy for these attacks because they have the potential to bring down the entire system.

If someone came up with a feasible attack on the cryptographic side of the protocol, the whole thing would be donezo instantly; zero value because your only insurance was cryptographic. This is obviously less likely, but we've broken plenty of provably secure protocols over the years.