Cryptocurrency

[WhiteWonder 2,798]

How about you stop insulting? I never claimed I'm making "watertight arguments". I am simply responding to what I consider your failure to understand the point of this investment. You've made post after post that SCREAMS that.

 

 

...and demonstrates that they don't fully grasp what they've invested in. And you don't, no matter how much you squawk. Your on posts demonstrate your failure to understand, and I've pointed out repeatedly why and how you don't.

 

i'm dying laughing here. last response to you.

 

why don't you stop insulting? If you consider my words to be insults, what the hell are yours? you're too much.

 

I have fully come to the conclusion that you have very little idea what you're talking about and this is why when pushed, you resort to YOU DONT UNDERSTAND!

[mmmmm...beer 809]

Nice writeup on Yahoo Finance... scroll to the bottom.

 

https://finance.yahoo.com/news/home-prices-consumer-confidence-need-know-tuesday-230835209.html

[IMMensaMind 462]

 

If you really don't think that a group of people, any group of people will ultimately take control of CC's and blockchain, I personally feel thats a bit naive. Especially if its on such a meteoric path to being the be-all end-all of finance.

What's naive about it? This is where my research - and your lack of it - allows you to conclude that my conclusions are naivete, when in fact, your conclusions are based in a naive understanding of the capability of Government.

 

Google 'symmetric-key encryption' and AES algorithms, particularly that which Bitcoin utilizes: Elliptic Curve Digital Signature Algorithm (ECDSA).

 

ETA: nvm. I did it for you, as it relates to CCs:

 

https://chrispacia.wordpress.com/2013/09/07/bitcoin-cryptography-digital-signatures-explained/

 

The Government currently uses AES protocol to encode Top Secret intel. No way any entity gets through it. Breaking it represents as close to an impossibility as exists on this earth. The information in that link is invaluable to truly understanding how this makes this a TRULY disruptive technology; one that will absolutely remove Government from the "get theirs" equation.

 

 

But they don't have the ability to control this in any effective manner. Doesn't mean that they won't try, and I never alluded to anything otherwise.

 

oh, and there was war. Mining for gold, mining for oil, cross country railroads... all began as ideas. Pretty sure the governments get their cuts now.

Think about how. Fiat. Understand how this represents a 'game over' to those power grabs.

 

 

 

I never said my own money was immune. My own money is just as vulnerable as CC's.. that was kind of my point, bud. My own money is not = gravity

 

No, that's not why I contested your complaint. Your own money is not 'just as' vulnerable. It's infinitely more vulnerable.

 

That's the point.

[Strike 5,691]

How, pray tell, can the Government stop this? The beauty of this is the inability of Government to do a goddamned thing about this. They cannot even break into iPhones (without a backdoor).

 

Government cannot stop the use of cryptocurrency any more than it could pass a bill outlawing gravity.

 

This "government", through a backdoor passage of a clause, single handedly destroyed the online poker scene in the U.S. Thinking they can't affect something is beyond dumb.

[Hardcore troubadour 15,534]

I don't know much about this stuff, but I know a little history. All I can say is the powers that be won't go down easily. They never do. And when it comes to power, nobody touches the banks. 90's brought many of you this far. The rest is up to you. Good luck!

[IGotWorms 4,060]

 

in summary... BUT BUT BUT you dont understand!!!!!!

 

 

which seems to be the end result of most of your discussion on the topic because you just can't seem to handle people having differing opinions.

 

i get this strange feeling you have aspergers. just a hunch.

 

He's got something alright

[IMMensaMind 462]

in summary... BUT BUT BUT you dont understand!!!!!!

 

 

which seems to be the end result of most of your discussion on the topic because you just can't seem to handle people having differing opinions.

 

i get this strange feeling you have aspergers. just a hunch.

 

Insult: asperger's.

 

Saying my opinions are naive isn't an insult; I respond to it with a counter, as I did. Claiming you don't understand is also not an insult. Simply claiming you don't understand, however, is not all I'm doing. I'm explaining what you don't understand, afterwards.

 

No different than any other argument. You make a claim like "there is no profit", and I counter it. You have no response. You claim that the car analogy is 'poor' - and then you proceed to demonstrate a failure to understand the analogy...only to cede the point after it is further explained to you.

 

Because you didn't get it. And because you refuse to cede any other point - instead running away from them - you still remain a valid target for the claim that you do not understand.

 

And that's why you've avoided readdressing the details. I, for instance, pointed out how ridiculous it was on your part to claim that "there is no profit" when there plainly is. There is MASSIVE potential profit by being early on the Bell Curve I cited. There is less, on the top of it. You could say nothing in response that would support your claim that you understand that wouldn't absolutely demonstrate that you DON'T...so you stayed away, and instead do things like claiming that I have Asperger's.

 

You can trust that I do not, and you can also assume that the one doing the insulting is the one losing the argument. You can also trust that I have fully looked into this as an investment, and I'm 100% comfortable having put into it the amount that I did.

 

I suspect something, but I'd like you to confirm it. How would you describe your political bent?

[IMMensaMind 462]

I don't know much about this stuff, but I know a little history. All I can say is the powers that be won't go down easily. They never do. And when it comes to power, nobody touches the banks. 90's brought many of you this far. The rest is up to you. Good luck!

There is no question about this.

 

And the fact is that this is a great investment regardless of what Government does, because it can be exited before something bad happens to it regardless.

 

Just like any other investment.

[IMMensaMind 462]

This "government", through a backdoor passage of a clause, single handedly destroyed the online poker scene in the U.S. Thinking they can't affect something is beyond dumb.

You just did it too.

 

You claimed that I asserted that the Government cannot 'affect' this. That's not what I said. I said that they will be unable to stop it.

 

Can you demonstrate how they'll be able to stop it?

 

Other than imagining some incredible technological thing which doesn't exist at the moment, that is.

 

Your anecdote about online poker, btw, is not analogous, for a number of reasons, but foremost among them is that the Government did not stop online poker. It just drove it offshore.

 

Now add bitcoin transactions to the mix, and you have an even more imposing presence; one the Government cannot stop.

[Hardcore troubadour 15,534]

There is no question about this.

 

And the fact is that this is a great investment regardless of what Government does, because it can be exited before something bad happens to it regardless.

 

Just like any other investment.

Doesn't have to be the government. Probably won't be. Power does what it wants until it runs into a greater power.

[IMMensaMind 462]

i'm dying laughing here. last response to you.

 

why don't you stop insulting? If you consider my words to be insults, what the hell are yours? you're too much.

 

I have fully come to the conclusion that you have very little idea what you're talking about and this is why when pushed, you resort to YOU DONT UNDERSTAND!

Note this.

 

Instead of saying - repeatedly - that you don't understand, and then following it up with additional arguments, clarifications and explanations - I could simply do what you just did, and claim you're retarded, or you're fully ignorant.

 

But I'm not pushed by your arguments. You're not offering any.

[IMMensaMind 462]

Doesn't have to be the government. Probably won't be. Power does what it wants until it runs into a greater power.

Of course, but that requires you to base your argument upon something that you've imagined...because it doesn't yet exist.

 

That's like saying that was useless to invest in IBM in the 1950's, because there's going to be an Apple in a couple of decades.

[IMMensaMind 462]

He's got something alright

Yeah. I've got a fantastic family and a wife that I love to spend my time with, and vice versa.

 

Perhaps you should get something too.

 

Now fock off.

[mmmmm...beer 809]

Yeah. I've got a fantastic family and a wife that I love to spend my time with, and vice versa.

 

Perhaps you should get something too.

 

Now fock off.

Take it easy Francis!

[IMMensaMind 462]

Nice writeup on Yahoo Finance... scroll to the bottom.https://finance.yahoo.com/news/home-prices-consumer-confidence-need-know-tuesday-230835209.html

Tell you what. Let's compare the 'bubble' chart to this one:

 

https://finance.yahoo.com/quote/GOOG/chart?p=GOOG#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%3D

 

The very fact that the guy attempts to compare BTC to tulips is proof of his bias - and he even exposes his own bullsht by ceding that blockchain technology is "very interesting".

 

Another financial wonk talking out of both sides of their mouth, as JP Morgan Chase is doing by simultaneously bashing CCs while building their own.

 

There is a difference between a 'bubble' - as that guy is attempting to characterize it - and a hype-driven investment that actually has teeth behind it (as GOOG did and does).

 

Associating this one with tulips is dishonest.

[mmmmm...beer 809]

There's something weird about a guy won't even attempt to think of alternatives. It's uhhmmm.. yeah.

[IMMensaMind 462]

Take it easy Francis!

Oh, that was. That steaming pile deserves the life he made for himself, and I have no issue reminding him of it if he wants to continue to throw trolling insults my way.

 

If he's so monumentally stupid as to give the forum ammo, then he shouldn't be so quick to allow opportunities to use it.

[Hardcore troubadour 15,534]

Of course, but that requires you to base your argument upon something that you've imagined...because it doesn't yet exist.

 

That's like saying that was useless to invest in IBM in the 1950's, because there's going to be an Apple in a couple of decades.

I hear you, but Apple built a better mouse trap. They didn't look to replace IBM, they could co-exist. At the end of the day, can cryptos and banks co-exist? Maybe they can, I dont know enough to have a knowledgeable opinion. But at some point doesn't something have to give? Will there be a winner and a loser, or do they share the market? . I'm thinking the banks aren't interested in sharing.

[IMMensaMind 462]

There's something weird about a guy won't even attempt to think of alternatives. It's uhhmmm.. yeah.

Wut?

[Strike 5,691]

You just did it too.

 

You claimed that I asserted that the Government cannot 'affect' this. That's not what I said. I said that they will be unable to stop it.

 

Can you demonstrate how they'll be able to stop it?

 

Other than imagining some incredible technological thing which doesn't exist at the moment, that is.

 

Your anecdote about online poker, btw, is not analogous, for a number of reasons, but foremost among them is that the Government did not stop online poker. It just drove it offshore.

 

Now add bitcoin transactions to the mix, and you have an even more imposing presence; one the Government cannot stop.

 

You clearly have no clue about how the government affected online poker. Hint: It was already offshore. I suggest you research my comment before responding again. You just look foolish.

[IMMensaMind 462]

I hear you, but Apple built a better mouse trap. They didn't look to replace IBM, they could co-exist. At the end of the day, can cryptos and banks co-exist? Maybe they can, I dont know enough to have a knowledgeable opinion. But at some point doesn't something have to give? Will there be a winner and a loser, or do they share the market? . I'm thinking the banks aren't interested in sharing.

There are over a thousand currencies in existence, and already over a hundred cryptocurrencies. This isn't replacing the need for currencies; this is an attempt to alter the form they are used, and the improve their functionality for the user.

 

If I have a choice between using a medium of exchange that the government can monitor and tax, versus using one that the government cannot, I'm going to use the latter.

 

It's exactly why internet commerce exploded. The Government was extremely slow to institute rules taxing commerce on the internet. CCs are about to make the virtually impossible.

[mobb_deep 920]

Wow...

[IMMensaMind 462]

You clearly have no clue about how the government affected online poker. Hint: It was already offshore.

No, it's not something I know a lot about. I can only respond to the material you provide. If you think I need to know something more to fortify your point and make it applicable to this discussion of cryptocurrency, by all means do so.

 

Meanwhile, though, you didn't acknowledge that you misrepresented my argument. Are you going to?

 

I suggest you research my comment before responding again. You just look foolish.

Reading it again didn't help. How was it supposed to? You've provided nearly no information, and definitely none that somehow ties to cryptocurrency.

 

I don't think you can, and I welcome your expanding upon it to demonstrate how it means that the Government - any government - will be able to do likewise with CCs.

[penultimatestraw 473]

Can you explain the technical part to the uninitiated?

Explain what is so great about blockchain, which seems to be etheriums claim to fame vs. bitcoin.

 

What is the actual process of mining - running a computer(s) (rigs?) to develop/encrypt a piece of cryptocurrency?

[IMMensaMind 462]

Explain what is so great about blockchain, which seems to be etheriums claim to fame vs. bitcoin.

It isn't. They're both based upon blockchains. BTC is simply a blockchain constructed with the limited functionality of a currency. ETH is built as an open-source platform which is both a programming language and can be utilized as a currency.

 

\What is the actual process of mining - running a computer(s) (rigs?) to develop/encrypt a piece of cryptocurrency?

why don't you find it easier merely to read up on the internet? This stuff requires more than a post.

[IGotWorms 4,060]

Wow...

Dudes straight psychotic

[IMMensaMind 462]

Dudes straight psychotic

Whatever you say, tinyd1ck dude who cannot even satisfy his own wife.

[Strike 5,691]

No, it's not something I know a lot about. I can only respond to the material you provide. If you think I need to know something more to fortify your point and make it applicable to this discussion of cryptocurrency, by all means do so.

 

Meanwhile, though, you didn't acknowledge that you misrepresented my argument. Are you going to?

 

Reading it again didn't help. How was it supposed to? You've provided nearly no information, and definitely none that somehow ties to cryptocurrency.

 

I don't think you can, and I welcome your expanding upon it to demonstrate how it means that the Government - any government - will be able to do likewise with CCs.

 

ROFLMAO. You're the one who asserted that the government's actions re: online poker simply pushed it offshore. Maybe don't make assertions that are factually false? So, let me get this straight? If I make a comment that you're ignorant about, and you make a factually incorrect counter, it's MY FAULT that you were factually incorrect? Seriously? If you had asked for more information I would have gladly provided it. But you didn't. You made a factually incorrect counter argument. I don't feel compelled to NOW offer additional information. At this point, I can simply point out that I, like pretty much everyone in the geek club, just wishes you would go away. You add nothing of value to the forum or it's discussions.

[IMMensaMind 462]

ROFLMAO. You're the one who asserted that the government's actions re: online poker simply pushed it offshore. Maybe don't make assertions that are factually false? So, let me get this straight? If I make a comment that you're ignorant about, and you make a factually incorrect counter, it's MY FAULT that you were factually incorrect? Seriously?

Sigh.

 

I'm not incorrect.

 

https://www.forbes.com/sites/nathanvardi/2011/04/15/founders-of-worlds-biggest-online-poker-companies-indicted/#314bcd04aca9

 

The actions pushed poker sites to offshore hosted sites. What you were referencing, though, must have been what these offshore sites then did to disguise payments from their US clients.

 

That doesn't make me wrong, so stop claiming I am. I simply referenced a different aspect of what you were mentioning.

 

If you had asked for more information I would have gladly provided it. But you didn't.

Of course I did. Right after you pointed out that I wasn't addressing what you were citing. I pointed out that I didn't know much about the topic and how it pertains to this discussion, and you could help by filling me in.

 

\You made a factually incorrect counter argument.

As I posted - in the link - I am not 'factually incorrect'. You, now, are 'factually incorrect' by claiming that I am. You are unwilling to let this go now, and will doubtless use it as a flimsy excuse to avoid actually describing how this applies to what we're discussing here.

 

Why? Because I offended your choice of entertainment: NASCAR and WWE. I laughed at it, and you got immediately butthurt.

 

And apparently still are.

 

I don't feel compelled to NOW offer additional information. At this point, I can simply point out that I, like pretty much everyone in the geek club, just wishes you would go away. You add nothing of value to the forum or it's discussions.

 

Who the fock cares what you think you giant redneck douschebag? You want me to 'go away', you ? IGNORE me.

 

I don't come here to make friends, and it is a seriously weak personality who thinks 'friends' are words on screens written by people they've never met. I come here to speak my mind, and if you don't like it, ignore the focking posts, you weak-minded imbecile.

[Hardcore troubadour 15,534]

The Rothschilds are the most powerful bankers on earth. Their Maxim, which goes back to the 1800's, is this: "Let me issue and control a nations currency and I care not who writes the laws". Thats power speaking right there.

[IMMensaMind 462]

The Rothschilds are the most powerful bankers on earth. Their Maxim, which goes back to the 1800's, is this: "Let me issue and control a nations currency and I care not who writes the laws". Thats power speaking right there.

It is.

 

But - like you said - new powers arise.

 

This is a discussion which contemplates if CCs are such a new power.

[Strike 5,691]

MensaRetard,

 

Your own link says the major online poker sites were based offshore. This is probably not an area you want to argue with me. But if you choose to do so, let's make it easy. Name me one major online poker site that was based in the U.S..

 

:banana:

[penultimatestraw 473]

doing the math that adds the actual transactions to the ledger. only one miner can solve each equation, so the more processor power (or joining a network of other processors and splitting the work/reward) equals more $$$.

Ok, this answers the mining question, kind of. So a tech firm or bank with a lot more computer power than a couple individuals could mine more effectively?

[IMMensaMind 462]

MensaRetard,

 

Your own link says the major online poker sites were based offshore. This is probably not an area you want to argue with me. But if you choose to do so, let's make it easy. Name me one major online poker site that was based in the U.S..

 

:banana:

Nope, you're totally correct. I misinterpreted UltimatePoker's demise as a US entity as a move due to US interference, but it was really as a result of the dominance of WSOP.

 

That was my limited exposure to the topic, and I misunderstood what your point was and responded incorrectly.

 

I apologize.

 

Now. Can you explain to me how this pertains to cryptocurrency?

 

Or, we could simply move onto ignoring each other from this point on, as I'm biased to do, since you clearly remain terribly insulted by my mocking of your NASCAR and WWE pasttimes - and now your expertise in gambling, apparently. I don't like you; you don't like me..yadayadayada.

 

Fact is, you seem to value your pretend friends here. I don't. You are words on a screen, and nothing more. You'll never be more. Who the fock cares? Either make an argument, or don't.

 

If you make an argument how your cite of what the Government did to online gambling has any bearing on what we're discussing here, I'll respond to it.

 

If you don't, you can go bye bye.

[mmmmm...beer 809]

That once the gov decides they can't tax it, they will shut it down.

[IMMensaMind 462]

That once the gov decides they can't tax it, they will shut it down.

They can't tax heroin either.

 

Have they shut it down?

[Strike 5,691]

Nope, you're totally correct. I misinterpreted UltimatePoker's demise as a US entity as a move due to US interference, but it was really as a result of the dominance of WSOP.

 

That was my limited exposure to the topic, and I misunderstood what your point was and responded incorrectly.

 

.

 

you're a focking idiot. Glad you realize that. Not sure what Ultimate Poker has to do with this. They were never a big player in online poker anyways. Are you incapable of researching how the U.S. government destroyed online poker? Why is it my responsibility to educate you, especially after you've been so condescending? Again, you look foolish.

[penultimatestraw 473]

in summary... BUT BUT BUT you dont understand!!!!!!

 

 

which seems to be the end result of most of your discussion on the topic because you just can't seem to handle people having differing opinions.

 

i get this strange feeling you have aspergers. just a hunch.

 

Many of us have made the mistake of going down this rabbit hole...and drawn the same conclusions.

[penultimatestraw 473]

This talks about mining and some:

And if I was going to do a build this is what I would do:

With newer parts though.

Those videos were helpful. Thanks.

[IMMensaMind 462]

you're a focking idiot. Glad you realize that. Not sure what Ultimate Poker has to do with this. They were never a big player in online poker anyways. Are you incapable of researching how the U.S. government destroyed online poker? Why is it my responsibility to educate you, especially after you've been so condescending?

 

Great. 'Cuz classy guy uses the opportunity to lob another insult after seeing me apologize for my mistake.

 

Here's where the 'condescending' started:

 

ROFLMAO. You're the one who asserted that the government's actions re: online poker simply pushed it offshore. Maybe don't make assertions that are factually false? So, let me get this straight? If I make a comment that you're ignorant about, and you make a factually incorrect counter, it's MY FAULT that you were factually incorrect? Seriously? If you had asked for more information I would have gladly provided it. But you didn't. You made a factually incorrect counter argument. I don't feel compelled to NOW offer additional information. At this point, I can simply point out that I, like pretty much everyone in the geek club, just wishes you would go away. You add nothing of value to the forum or it's discussions.

Whereas I made an incorrect statement prior to this, you were the one who began being the azzhole. And you won't apologize for it either, because you're definitely not man enough. Because you wear your butthurt on your sleeve. You still haven't gotten over the offense you took when I lightheartedly took a swipe at NASCAR - and I immediately apologized for that too, saying I meant no offense; was just casually expressing my opinion in a joking fashion. You, though, carry grudges over petty sht. I have no doubt that you do that IRL as well.

 

And you didn't apologize for totally misrepresenting my argument with your first comment, even after I pointed it out. I never said that the Government cannot 'affect' something. I said that they would be unable to STOP the implementation of cryptocurrency. You also said that the Government destroyed - stopped - US online poker, and that's untrue also.

 

But you won't apologize for making that false statement either. Because you're a hypocritical low character douschebag who readily excuses his own missteps while condemning others for theirs.

 

You obviously didn't deserve an apology then or now. You're not the kind that deserves the consideration. Being mistaken about something about which I have no interest doesn't make me a focking idiot. It means that was mistaken about something, which I acknowledged. It's something clearly really unimportant to this topic, and it's obviously not my job to make your argument for you.

 

Now that you've demonstrated that you have no interest in tying the two topics together, how about you make that faux complaint about my presence here true for yourself, and just ignore my posts from this point forward?