SELLING TO FIAT IS GOOD.period


#61

Dogecoin is a novelty of blockchain too. And look, DogeCoin’s market cap is over $300-million; vastly surpassing many excellent, well grounded projects, with good initiatives, and solid technological advances on data transfer.

your fourth point is wrong. Bitcoin becomes more centralized everyday due to ASIC mining; i’d argue we left centralization sometime before bitcoin cash. Hence why I said bitcoin is a shitcoin nowadays, and that won’t change because it takes them 6 months to even get simple shit done.


#62
  1. Dogecoin “surpassing many excellent, well grounded projects”? Like what?
  2. “with good initiatives”? Examples?
  3. “solid technological advances on data transfer”? WHAT??? Are you serious?

I can’t tell if you are trolling or being serious! If you don’t know the history of dogecoin, you may be pleasantly surprised! Even Peter, the greatest dogecoin advocate on the internet, is well aware that dogecoin is a meme-joke coin. It’s good for value transfer given its price stability, but that’s about it (if you wanted to point out the advantage, this would be the one, not the 3 bullet points I flagged above).

Yes, it has become less decentralized with the advent of ASIC mining, but it is still THE MOST DECENTRALIZED coin out there. There is still no single authoritative person or a small group of people who have much influence on Bitcoin.

It’s okay if you think bitcoin is shitcoin. You don’t have to put a penny on it. Let the market decide.


#63

you read my post wrong. I was saying that you saying bitcoin is a novelty of blockchain has no meaning and no value for users (especially long term). I was comparing the fact that dogecoin is also a novelty, also has a massive market cap, and yet has no value.

none of that matters the most important part of the post is that BTC is not decentralized. it’s very centralized and becoming more and more centralized everyday due to failed coding.


#64

thank god someone gets it


#65
  1. Not sure what you were getting here. Dogecoin is #40, Bitcoin is #1, so what’s your point? An investor doesn’t merely look at the ranking, he/she looks at the development behind a coin/token.
  2. You need to point things out to be concrete. I am trying to engage in an intelligible discussion with you.
    ----------As I was responding to your reply, I noticed that you deleted them out--------------
    If bitcoin has no meaning and no value to users, people would:
    A. Stop mining it
    B. Stop trading it
    C. Stop HODLing it
    In contrast, dogecoin has its own use cases, but I wouldn’t call it a novelty since it doesn’t invent anything new. In fact, its github repository hasn’t even updated for years (did you know this?).

This is outright wrong. You may want to be careful where you are getting your news/information from. If you are getting it from CNBC or Bloomberg, you would really have to think twice.

Last year when I first started, I was somewhat like you trashing Bitcoin and buying only altcoins. Then when I started investigating myself and thought through the economics, I began to agree with Peter’s opinion on why Bitcoin is always the king. Then, I began to discover Andreas Antonopoulos’s presentations and even began to read his book. It was also around that time that I found out about Jimmy Song.

If you are interested to educate yourself on the topic, read the quad-logy:

  1. Bitcoin and Virtue Part 1: Prudence
  2. Bitcoin and Virtue Part 2: Temperance
  3. Bitcoin and Virtue Part 3: Justice
  4. Bitcoin and Virtue Part 4: Fortitude

If you care to know why Bitcoin is different than other cryptos, read these:

  1. Why Bitcoin is Different than other Cryptocurrencies
  2. Why Bitcoin is Different

If you want to know why too low of fees cannot sustain the blockchain, read this fine piece by Charlie Lee, written with “Satoshi Castle” as an analogy! A great read.

Obviously, as you can see from my writing (organization), I am trying to engage in an intelligible discussion. If you are not interested, don’t worry about replying.


#66

CNBC? Bloomberg? ASIC mining centralizes. It was supposed to be ASIC resistant. It isn’t, at all…lol. So how is this wrong?

I own many BTC by the way; I’m just not delusional to its value. I watched it go from $200 to $20,000 with relatively little increase in VALUE compared to just itself. And when you compare it to what other cryptos are doing, it has surely lost value comparatively to the whole. Meaning it’s running more or less on speculation and confidence, I call this a bubble.

Here’s a good link to a wonderful article that breaks down BTC valuation trends.


#67

I was commenting specifically on “failed coding”, which was not true.

When Satoshi first invented Bitcoin, he didn’t foresee the possibility of ASIC mining, so there wasn’t any code to prevent it (i.e., make it ASIC-resistant).

Because Bitcoin is decentralized, there is no one who can just say, “Alright, let’s change the code to ASIC-resistant”. The weakness of decentralization is that progress doesn’t move fast because everyone has to agree, or a fork would happen. Everything has to be proposed first, hence the acronym BIP - Bitcoin Improvement Proposals.


#68

Nuance is good.
You could say ASIC miners make mining less decentralized.
You can’t really say ASIC miners make Bitcoin centralized.
Bitcoin is not just Bitcoin mining. Also, you don’t have one entity that does all the mining.
You could also say it’s the whole reward system in it’s competitive form that makes the mining more centralized.
Because it’s competitive, it will alway reward rich people who can accumulate a lot a hashing power where there’s cheap electricity. Whether the standard hardware is CPU, GPU, or ASIC.


#69

Correction, ANYONE can change the code to ASIC resistant. and they did. :stuck_out_tongue:


#70

Not that this guy knows anything :joy:

Just like to add I do see the value in trading especially if your in the 10% who are actually successful in making long term profits.:crossed_fingers:
Would also be nice to see some of the traders in here post their results up.:face_with_monocle:
Just to be transparent I’m a hodler, and a little bear trend won’t shake my coins out of my grip :fist:


#71

Crypto is dead bro. Bitcoin is going to $100 IF that. We need to change this place to the fiat pub. Long live Ben Franklin.


#72

Don’t forget usdt,

hail tether :raised_back_of_hand:t2:


#73

USDT is the real bitcoin.


#74

I’m 100% hodling USDT. I’m Currently dca’ing it monthly :dollar:


#75

Nope, this shows what you are misunderstanding. Nobody can “change” the original code. They can make a fork of the original code. This is the essence of open source. This is why Github is the most prevalent source code repository, particularly for works that are open source.


#76

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Hmmm…


#77

FIAT currency is a tool by governments to control what, when and how we spend…it’s not freedom and there is 0 trust. Don’t be fooled. FIAT currency has been used for thousands of years to control the population. Don’t believe me? Do your research.


#78

why USDT? did you find it stable?


#79

I don’t want to convert to USD because I would have to use GDAX which would then log my $$ transactions. I’m somewhat afraid USDT could collapse at any time. Bitconneeeect.

Now selling back to BTC. Ok. no problemo!


#80

forking is what i was talking about breh