Skeptic Bob
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I see bitcoin continuing to surge in value, well over $10,000. People that put money into this will be happy but I always get a sense its value is destined to fall eventually, perhaps crash under $1,000.
Any thoughts on this cryptocurrency?
Yeah, this is what I see being the eventual death of cryptocurrency. Eventually the amount of money tied up in it gets large enough for the government to start paying attention.
Ya, this looks like a gambling fad that will drive interest in regulating the internet, governments can not turn a blind eye towards this degree of recklessness, though with as reckless as governments have become their standing is not the best.Yeah, this is what I see being the eventual death of cryptocurrency. Eventually the amount of money tied up in it gets large enough for the government to start paying attention.
So in the same day I read both that by using a ton of energy these schemes are unhackable, and that they have already been hacked....and this is as we are frantically trying to save the planet by going on an energy diet.
"Houston, we have a problem".
One thing that they dont seem to ever talk about, that there are hundreds of types of cryptocurrency. Many cryptocurrencies have failed.
What I find strange is that cryptocurrency gets most of it value by the code be strong. Then they try to tell you that your wallet and the system is impossible to hack. lol yet there seems to be a lot of hacking going on.
Another major threat is govt intervention, particularly as illicit/tax dodging uses become more common, and financial markets dangerously increase their exposure to it/other cryptos as they almost surely will, but this isn't as inevitable and assured as said technical limits.
China tried that, outlawing bitcoin and all cryptocurrencies. 80% of bitcoin transactions are still among the Chinese.
Also if you forget your code your money is lost, there is no way to recover but ya getting robbed has to be the bigger fear, especially when we read that Russia just supplied the North Koreans with a second internet trunk line.
You can get robbed? I was drunk in Milwaukee going down a street at night in the "hood" with no street lights on (power was out or something), and got suckered punch hard enough (and robbed of what i had been holding in my hand) that I had a concussion (still was standing on my feet). You don't need Bitcoin to get robbed. You can have jewelry, money, or guns in your house and that get robbed while you are gone away from the house. You can let you 7 year-old daughter out the door, she get abducted, and someone robs her from you for the rest of your life.
Robbery has been going on before Bitcoin ever came around. So has drug dealing.
So in the same day I read both that by using a ton of energy these schemes are unhackable, and that they have already been hacked....and this is as we are frantically trying to save the planet by going on an energy diet.
"Houston, we have a problem".
And it is always a problem, more so when we have no control over our safety.
Also if you forget your code your money is lost, there is no way to recover but ya getting robbed has to be the bigger fear, especially when we read that Russia just supplied the North Koreans with a second internet trunk line.
Eh... I see you have not looked into crypto too much. As in all the varying cryptocurrency start ups. Apparently, repeating the term 1st Generation [technology] for Bitcoin doesn't mean anything to you. Do you have a flip phone or something? Because I don't have a "flagship" phone but mine is still 4G or 4th Generation with a 1080p HD resolution screen. More miraculous to me it is tying into the "internet-of-things" (at a very infant level from what the big brains in IT bring and are working hard to one day bring to reality) and I'm still easily impressed (like a little kid almost) at Google Assistance on my phone that responds to my voice commands. Amazing, had someone told me in 1980 when I was kid something like this would exist I would have thought they spent too much time watching Sci-Fi.
But you live and learn. I've learned over the things technology will likely change over time. It already has in my lifetime thus far. And I've learned some trades and jobs either can go extinct or just diminish greatly in numbers. So, how do I mean? Well... my German-American grandfather was watch maker and retired as such. Raised his large family in middle class lifestyle by fixing other peoples watches. Yes, there used to be a large market for fixing watches. Where the hell are they today? They are not totally extent but damn near.
Now, most watches are disposable items (not luxury watches), you simply throw it away and buy a new one. But lots of people no longer buy watches. Smart phones give the time and date (hell the weather and your location).
So, you are saying has been hacked? I think you are talking about the crypto-currency exchanges and not the blockchain.
As I have said earlier in this thread... I don't understand the complex math behind the blockchain. But then I don't understand it for any computer programing. I understand little to nothing as to how anything on the internet works, I just know how to tap keys or push mouse buttons and access the stuff available on the internet. So, because I fail to understand the complex math and physics undergirding the internet does that mean the internet was going to stop advancing because of me? No.
I have never been emotionally invested in Bitcoin or the blockchain. I have been interested in trying to get a fair grasp on what if any future it may have. So,ead some things and watched some things, even people like Peter Schiff disagreeing with Max Keiser. Ultimately one has to decide for themselves which camp they think is most right. The anti-crypto people like you or the pro-crypto people.
The fact the vast majority of you anti-crypto people know less than me about crypto does not persuade me to believe you all. In fact, Intelligent Designer people that dismiss the Theory of Evolution know more about the Theory of Evolution they dismiss than most of you know about crypto. For whatever reason most of you all are emotionally invested in your position like Coal Mining Country.
Maybe next election Trump should run under a anti-Bitcoin platform. You all would suck that up.
This is a distinction without a difference, my money is gone either way, I cant protect myself from it either as I cant tell who will do their best to keep it from being taken, and I dont know that the best will be good enough which is even worse than was the situation with bank security in the Wild West.
Card skimming at ATMs affecting hundreds in at least three counties
TODAY’S TMJ4
Published on Sep 22, 2015
Have you swiped your credit or debit card recently? If so, you could be a victim of card skimming.
How to Keep Your Credit Card Safe from 'Skimming'
ABC News
Published on Sep 18, 2014
This high-tech pickpocketing technique accounts for the majority of ATM fraud each year.
Transactions have to be confirmed by at least 6 miners. As the number of transactions increases, the blockchain is getting congested, and it takes longer to process transactions. It can take hours when volume is high.How is it hard to sell? I acquire and sell btc 2 or 3 times a week. I sold about $2,000 of it this morning. Took 30 seconds to put in the order and about 10 minutes to show up in my bank account. But there is a learning curve.
You sure about that?At least easier than a decentralized system. The blockchain increases security than your banking system today because no one computer handles anything.
Transactions have to be confirmed by at least 6 miners. As the number of transactions increases, the blockchain is getting congested, and it takes longer to process transactions. It can take hours when volume is high.
Exchanges can also be volatile themselves -- bogged down and crashing when there is high trading volume.
Also, many exchanges (like Coinbase) have limits. Obviously, you can't liquidate your position if the exchange you use sets a limit on how much you can sell at one time.
For an extreme example: https://twitter.com/TedOnPrivacy/status/940588631709896704
I understand investors wanting it to get to $100,000 but for people like me who use it just as a means of exchange, these tiny decimal amounts get annoying.
That was the funniest thing I have seen in a while. Brilliant. Whoever wrote those lyrics either had first hand experience or did some serious research.