Bitcoins/Cryptocurrency

N1ckS

Thanks for the rant. Once you have earned DAI or EOS etc you can then simply exchange for Bitcoin, and there is nothing anyone can do to stop you!

fewgroats

fun4everyone wrote: »

It doesn't matter. Bitcoin will revolutionize the entire planet and there is nothing anybody can do to stop it.

This maybe warning you in case you haven't heard of the South Sea Bubble, MAC and MAE, the Californian gold rush and, more a recent example, investing in diesel cars.

benbay001

fun4everyone wrote: »

Bitcoin will revolutionize the entire planet and there is nothing anybody can do to stop it.

How is it not possible for governments to regulate against bitcoin?

eskbanker

fun4everyone wrote: »

Bitcoin will revolutionize the entire planet and there is nothing anybody can do to stop it. It's going to become the worlds reserve. There cannot be a competitor created.

If you don't understand or you feel threatened by it then hate all you want.

I don't really understand it (beyond a basic knowledge of the principles) or feel threatened by it, or hate it, but find that the recurring need of Bitcoin zealots to make outlandish claims diminishes their credibility. It just comes over like religious fundamentalists preaching from their soapboxes, who also typically try to polarise everyone into believers and haters(/infidels/heathens/etc) to reinforce the siege mentality of the cult followers....

Malthusian

N1ckS wrote: »

Coinbase have added Dai to their cryptocurrency 'education' page:
https://www.coinbase.com/earn/dai/

:rotfl::rotfl::rotfl:

But on the plus side, I've just saved you two minutes of your life.

Cue "but you don't understand the teccology bro".

I'm going to create a crypto token pegged to unicorn dust. Thanks to decentralisation, rehypothecation and collateramisation, I can guarantee it will always be worth the same as one gram of dried unicorn sweat. And unlike DAI I can actually achieve my aim when it dumps to zero.

Tell your friends to invest in HRON now and you'll be paid 10% of everything they invest (in dollars or Bitcoin, natch) plus 5% of everything their friends invest, 2% of their friends and so on down five levels, plus when you recruit your tenth person you'll be crowned a Sparkle Ambassador.

N1ckS

Yes, I think the point is you can just exchange it for BTC then GBP to withdraw from Coinbase. Coinbase and Blockchain Wallet have kindly offered £70 of this British unicorn dust to me over the past couple of weeks.

ben501

benbay001 wrote: »

How is it not possible for governments to regulate against bitcoin?

They can regulate all they want, just like they do in the war against drugs, and how well have they done in stopping that? The claim here is vastly different, and to all intents and purposes probably true.

fun4everyone wrote: »

there is nothing anybody can do to stop it.

Of course they could always pull the plug on the internet.;)

coyrls

ben501 wrote: »

They can regulate all they want, just like they do in the war against drugs, and how well have they done in stopping that?

Interesting comparison, they do have a lot in common.

fun4everyone

benbay001 wrote: »

How is it not possible for governments to regulate against bitcoin?

Governments do not want to give up control of money and if they could make bitcoin illegal they would but its basically unenforceable. Not even a concerted worldwide effort could manage it. Any attempt to completely ban bitcoin from the UK or wherever would just be a gigantic waste of time and money. Prohibition doesn't work, history proves that. There is no central point to go after with bitcoin. Banks here in the UK already close accounts for high volumes of btc transactions and basically refuse to deal with serious amounts of it in any way - it's not stopped it going on. Any government who trys to ban bitcoin will soon find out they are just wasting endless amounts of time and money. The competent ones realise this already.

It will end in a scenario where the countries who do not embrace bitcoin start to fall behind the curve. It will finish up being the worlds reserve like gold is now.

ben501 wrote: »

Of course they could always pull the plug on the internet.;)

It can work over any form of data transfer, including the most basic forms such as packet radio.

coyrls wrote: »

Interesting comparison, they do have a lot in common.

Every bitcoin transaction is public and traceable from beginning to end right back to the very start. The ledger is also not controlled or alterable by anybody. Does this make it a good method for transferring criminal money around?

Malthusian

fun4everyone wrote: »

Every bitcoin transaction is public and traceable from beginning to end right back to the very start.

Which is completely irrelevant if the end point is an anonymous wallet.

Does this make it a good method for transferring criminal money around?

Either it clearly does, or the thousands of criminals who use it for transferring money around want to be caught. Which do you think is correct?