Nobody knows today exactlty how high the transactions costs will finally reach...
Any estimation from the believers is uncredited, as insanely and totally biased.
The costs for the electric power and the costs for the crypto plants devices, plus some mining business profit, plus transactions business profit...
all this will need much more satoshi-shit than the "imagination" of that crypto business troll is fooling you here
Not to mention that the Matrix-gospel administartors will form a CARTEL, obviously!
Because they will have the absoulte global money machine power ...and all of us we will pay them for transactions
The oligarchic behaviour of the few will dictate and manipulate a rigid diabolic market of transactions fees ...That is what any Oligopoly does!
You will have no choice and pay them, whatever the cost they will agree on!
The Federal Reserve of the US will look like a small innocent child next to them
And there are so many more social-economic aspects that bicoin fanatics are not aware of.
But they lie about it, because they will never admit they invested in something so wrong.
So, the transaction fees will possibly match Visa, Westen Union, Paypal...
So why do we need bitcoin ?
How will we know if our government is paying terrorists to compromise a country to take control over it later in the name of "democracy"?
How will we know if the honorable chairman is paying the mafia to eliminate competition ?
The satoshi-shit can be traced up to an electric-shuffled-bytes-mama-source, but it cannot be traced down to a person
Person ...any person... person like anybody in any dirty business...
And thank you George Carlin for adding to terorrists also: serial killers, mass murderers, felony rapists, armed robbers, carjackers, home invaders, thieves, burglars, kindnapppers, sadists, pedofiles, sexual predators, pimps, pushers, pornographers, speed freaks, crackheads, sick junkies, all the ethnic street gangs, mafia, neo-nazis, white supremacists, hitmen, mobsters... (come on, it is only a comic stand, you Forex Factory admins! Pamphlets are not to be CoC-ed)
They will all get payed and police will not be able to follow anything but only some shuffled bytes form a source to another...
...but there is no real person in this video game !!!
They will do only one honest thing though, ...they will pay transaction fees to the crypto-oligarchs!
Fraud and hacking involved cryptocurrencies, exchanges, wallets many times now...
No doubt that is not that safe as they are bragging it is!
That's why is a serious problem for the retail sane people to buy bitcoin.
The bad guy can easily clone private-key-identity, then even if the true owner can trace it back to his fancy "genesis of ownership" of his blocks,
the true owner cannot prove he didn't move that particular blocks and it was someone else who made a fake move of his blocks using his key.
Police: You just bought a gun from a crypto-source we have been monitoring it for a long time, MOFO!
Me: Fk you, it wasn't me!
And here we go again:
- no accurate victim personal identity => no valid charges;
- no source person => no police investigation;
- no proofs => no trial, no justice;
- no assurance => no indemnify for your loss;
So, if your exchange or your wallet is not so safe...
Why do we need bitcoin ?
Now you see it, now you don't!
OMG, LAS VEGAS OFFERS BETTER RETURNS THAN BITCOIN!
And people buy Gold and JPY when the trade war goes wild! ...not random encrypted files!
108 million US dollars in Bitcoin shorts liquidated in dump!
Orcas (huge speculators) dump this shit when there are no more Whales (stupid companies) who buys.
Orcas devours Whales!
...just usual business for any Ponzi structure.
As much as $10 million in Ripple might have been stolen from
Ripple Ledger wallets managed by service provider GateHub!
Again? Told'ya! Wallets not safe!
Where is the infallible crypto-money cyber security ???
Why would we trust those "things"?!?
Cryptocurrency and blockchain they are different things.
The crypto-money are relying on the blockchain technology only to function.
Blockchain is OK!
But the crypto-money is a stupid thing.
Because cryptocurrencies are an enticing medium for fraud, manipulation, insider trading, hacking, and a broad range of chicanery!
Because the anonymity of the transactions can generate manipulation, chaos, crime, fraud... !
Sane authorities won't accept it, ...it will never be accepted.
Dark-hidden-money are the cornerstone of the fraud!
Money laudry, governamental fraud and manipulation, war strategies between rival states, drugs, trafficking in
human beings and guns......... they all pay and get payed via dark-untraceable-hidden-money
Of course manipulation, fraud, crime, happens in the fiat world too.
But we cannot offer legal grounds for manipulation, fraud and crime, by legalizing invisible-identity-money !
Good bye, bitcoin, altcoin, ...good bye crypto-utopia!
In an honest normal world, money must be linked to a personal identity, to a firm, to an economical actor, to a fiscal entity...
The money must be traceable in order to prevent crime, it's common fkn sense!
Blockchain could be the future ...bitcoin could not!
There is this Romanian CEO, someone who repeats the same stupid thing over and over...
It's a cheap sort of fallacy he is repeating and it tax my nerves, it insults any honest man intelligence.
He keep saying, woah, infinitesimal transactions' comms...!
And he comes with an example of 170M transfer for less than one US dollar commission.
Is he a crook or stupid?
Ok, trillions of transactions happens daily? About $5,100,000,000,000 travels every goddamn day for big trade, small trade!
Online, not to mention the cash, I guess. So much more everyday.
Now, how many of them are 170M bulk transactions? And how many are few dollars transactions?
If I buy a pack of fags for 0.0000065B ...the satoshi-shit commission would be like 10-15% or what?!
The comm is not related to the value of the block. How could it be? The values are anonymous.
So all the blocks takes the same commission to be processed, mined, whatever...
So, the comm for a pack of fags and for a 1M monetary units is the same.
There are just a few hundreds of 1M transactions, but millions of 1-10 dollar transactions on daily basis?!
So we need to refer to an average commission next to the amounts circulated.
How much the amount? 5 billion dollars every day the total amount of charges from trading on small things?
But that's 1% average commission of all the transactions as an average today?
Oh, ...oh, ...oh, so we are back to Visa, Western Union, Paypal, Skrill, commission sizes? WTF
[quote=TudorIoan;12318996]Cryptocurrency and blockchain they are different things. The crypto-money are relying on the blockchain technology only to function. Blockchain is OK! But the crypto-money is a stupid thing. Because the anonymity of the transactions can generate manipulation, chaos, crime, fraud... !
Sorry for pulling some phrases out of the context.
Of many things written by you, you are an ardent opponent of cryptocurrency, and the main argument is anonymity.
So, do you think that numerous payment services on the Internet, from Skrill to Google Pay, Apple Pay should collect information about us?
Do you think it's right that any government keeps track of all your income, expenses, thereby controlling these expenses and our whole life?
I agree that there's a negative side and this is money obtained by fraud or terrorism. And it's necessary to avoid it as hard as we can.
But I think Bitcoin, for example, has a future and in the Market as well. Because thare're so many people that tired of being monitored with every financial transaction, even if you just want to book a plane ticket...
I don't buy drugs, I don't buy guns, I don't buy female slaves in flesh, I don't do money laundry, I don't take any subversive action, terrorism, I don't pickpocket people... I just mind my business. I keep my creativity for job, for home, friends, for my spare time...
Paranoiacs thinks the government is following them every step they take... they are "important".
They actually use to flatter themselves, but they are no stars, they are just common sick losers. But they need to blame on someone for their miserable lives.
The Big Brother and Uncle Charlie are the most popular targets of losers' hate, the most common outpouring target for depressed, sad people.
They will never understand that "someone" is needed to track the money to prevent fraud. Is not because someone is damn curious about them "geniuses". They are just frustrated, deranged nobodies.
And their problem is only their anxiety. Most of them are really sick, they failed in the real world, business, job, they failed in life, or they come from very poor people, so they punch everybody in the need to prove they are "somebody".
Well, I don't do frauds. I like to be "monitored" because that's how I feel safe. That's how I feel protected from violent people, from crooks, thieves, frustrated stups...
Nope, I don't think bitcoin has a future.
Because the crypto-money are the perfect medium for fraud. And that's too obvious!
Blockchain, is another story. Blockchain has a future.
But I'm not as categorical as you. I think that some people dont like to be "monitored" not personally, but "monitoring" as crowd for control.
But as for "monitoring" to feel safe, I disagree with you here.
If someone wants to kill any ordinary person (not a "star" or a politician, although there've been cases), he will do it.
And how do you like an example of "feel safe" with the Pokemon Go app?
Where it was possible to track the geolocation of the kid playing what pedophiles successfully used. Full safety you know...
And if on the topic. I see Bitcoin is not going anywhere for now.
And Blockchain yes, a brilliant system.
calm down and chill out.
Anyone is under the eye of "Big Brother" and the actually name of his - "social media". I suppose that Google know better where should I go to have a breakfast or what the PC brand I'd like to buy, than me, actually. The crowd should be controlled because we should avoid anarchy. By the way,I read a idea about crowd: people who leave the crowd is falling into the crowd of people who believe that they are not in the crowd.
The only one thing is really has a sense... Everyone should live... Live and enjoy the life, enjoy the every moment given.. And it doesn't metter if you are rich or poor. The most significant factor is your thining, is your mind and the world inside your soul.
Yes, bitcoin is a service that used for terrorism payments, yes, that is unpredictable system. But cryptocurrency and blockchain is a new technology step. Let me give an example in one similar expression:
The nuclear fission process is a great step for technology, but someone used it to make a bomb.
Holy shit guys you don't get bitcoin at all. Better not talk about something you have no clue about. First educate yourself about the current financial scam system, then bitcoin will make much more sense to you. Also one big ROFL for anyone that claims bitcoin is used for money laundering/terrorist financing. Nobody who understands bitcoin would ever do illegal business with it, that's the dumbest thing you can possibly do LOL.
As I said nobody who understand bitcoin would ever use it for illegal activities. Obviously all these people don't understand bitcoin lol. Sucks for them, they got caught, I wonder how ROFL.
The largest criminal, money laundering and terrorist organization in the world is the government. Let that sink in.
Ok, a "crowd person" admits he is stupid enough to be manipulated if the Big Broad knows what he likes for breakfast, but he's smart enough to understand exactly the manner how the whole system works against him!?
The sentiment of the people who feels being watched and manipulated is full of contradictions, fallacies ...but funny.
I say is only paranoia, inferiority complex, and anxiety of the people who didn't make it in life, and try somehow to attenuate the regret or even depression.
The state is there to help them.
But they need someone to blame on ...for their failure.
Occult conspirations and misty entities, but mostly the rich and the state fits best to bandage wounded souls.
Not to mention they don't understand how the state is really working. They don't understand the no-state-society is equivalent of chaos.
They never get to think that far, because they need "revenge" and get even right now.
I'm honestly telling you how I feel. And I feel safe when the state watches.
The example was like how I feel downtown where cameras at every corner, while in the slum I don't feel safe not even at noon ...but no one wathches
I wouldn't feel comfortable with that kind of "freedom" ...unless I would be some shady guy
After all, "everybody watches" is the principle of trust in the blockchain! The blockchain is "trustless"
Is the governance of the blockchain social consensus !
It's minimizing the amount of trust required from everyone by distributing trust to all of them video game players?!
So "everybody watches" your "kid" in a trustless system ...even pedophiles ...what are we talking about?!?!?
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