Bitcoin, How it works !

The tec is developing but in my view it requires government regulation. The way these currencies are being marketed is very much a "get rich quick scheme" under speculation. I done a lot of reading on the topic and most of the sites which "speculatle hudge growth in crypto markets sell crypto and and run there own agenda. This agenda translates to them making a profit and commission on transactions without running a risk that clients dump there money into. They are simple fleacers. . . In some countries there is a need for an exchange of currency But I don't believe that bitcoin or any other crypto currency will over throw the USD and other fiat currencies stated by many marketers. The facts seem to be very misleading.

Its in my understanding that most of the wealth generated on crypto is due to investors higher on the pyramid picking up gains from people lower on the pyramid. Sooner or later there will be no-one to off load to.

ts developing Its very volatile. Needs to be a lot more secure

We keep adding new people to the country. If we stopped the economy would start to collapse. It's a ponzi scheme.

Can I play too?

Down Down, prices are down

Alts are taking over big time = the last few weeks.It is going to end in tears.

Most alt coinsare a complete fiction. They don't even exist. 100% serious. They are pre-beta on a local database. Andsomehowworth billions of dollars.

Even Ripple is essentially still run on a local database.

I don't quite understand it all. If I bought a bitcoin (any crypto for that matter)for 10$ and sold it for 600$

1) Where does my bitcoin (i.e 590$)profit come from?

2)what fees does thecoin sellers charge for the purchase and selling?

3)who pays for the bitcoin mining?

4)Who pays for the blockcain usage and the power etc.

5) What the percentage of declare capitol gains?

Seems to me like a lot of people are sticking up there hands and collecting large amounts of money out of thin air.

So whos paying for all of this ?

Also if you want to get in on the action, there are so many discussion groups, discords, telegrams, forums where you all coordinate your Pump and dumps. More involved the better the pump and dump.

Turn that 0.00056 to 0.15 and SELL. It's all about %.

That's why Bitcoin is Sterile. I want $$$ NOW. NOW. NOW

Remember, it's not illegal because there no regulation. As Roger VER said insider trading is fine legally. Morally..hahahah Morally ahhahahha. You mean like morals?

$$$$$

Imagine Pokemon Go, but instead of Poke monsters people look for Cryptomonsters/coins.

Your burger joint buys 1000 Cryptomonsters from me, 10'000's of teen-milleniums come to catch them. They get Hungry?

Hey there is a burger joint and my captured Crypto's have increase by 400% since I typed this message. Oh noes they have dropped 4000% in 2 mintues, but I'm still hungry.

Have I just randomly thought of a Crypto based Lego Blockchain Mobile App where you can find Bitcoins in the wild and use them to pay for things?

Looking for investors

Company Brownpaper Model:

"Company places hundreds of thousands of millions of fake Satoshi and full Bitcoins around and urban area in a phone APP.

User signs up and use 4G, GPS, DATA, Blood samples, to determine where user is after they have signed up with credit card and full face ID, Passport and first born.

At this point all Telco companies are onboard due to the huge data usage, 4GB an hour searching.

User may then use the App on their phone to "Prospect, Mine then Claim the Satoshis/Full Bitcoin.

It takes a Chinese server farm with 27,000 Nvidia GTX1080Ti 's 10 minutes to mine a portion of a whole block.

It is now up to the App User to finish mining the block.

Advertisers may pay a substantial fee during this time to ensure patronage and also ensure a huge amounts of Satoshi or BTC appear near their establishment, other wise the developers will say " **** you, we know what we are doing" You broke ass dog.

They get hungry, and presto, increased sales.

PS: All Trademarks an Copyrights have been placed.

Cool mate I'll buy when you over throw the US dollar and taxation office. . I wish you and your delusional illuminati friends the best of luck.

I'm going for a bath with my toaster! If the toasters to hot, the toast will burn.

Evil Panda is Smart.

You need to tell that to these profiteers. All basically obsolete with each year passing.

People used to rob a bank for $1,000,000.

Now you just need to rob a computer parts warehouse so you can charge $100,000,000 in transaction fees.

www.google.com.au/search?biw=1280&bih=600&tbm=isch&sa=1&ei=JkdcWuuHLcjG0gSO7YOgBg&q=Chinese+Bitcoin+Gpu+miners+farms&oq=Chinese+Bitcoin+Gpu+miners+farms&gs_l=psy-ab.3...22728.26483.0.26680.12.11.1.0.0.0.402.1587.2-3j1j1.5.0....0...1c.1.64.psy-ab..6.0.0....0.S2Fef6CHCN4

But why even mine? Screw the "BlockChain Ledger" It's basically a term for distributed computing sharing data. But we'll make it soo hard they burn their processors to get more space.

If somebody screws with a normal ledger they nearly always get found out any way...

If I did a Google search or a bank transfer and it took 14 days depending on how much extra fee on top I paid them, the power usage of several countries and the possible increase of difficulty of the blockchain at that time, WHY?

Why not have dedicated servers to deal with the requests? Maybe have some oversight and regulation? Maybe to make sure people are not ripped off or hacked or have some kind of Guarantee of their savings?

Ohh, that's correct we already do, and we have distributed processing and cloud storage and a Government Guarantee of our savings with minimal, if any fees.

Bitcoin was created to buy "cheaper" drugs as anon. It is no longer anonymous, decentralised or make at all any sense except for "Lambo Moon Rich Bitch try hards."

People who would never think of the sort are holding their passports up to their heads with a handwritten note to random websites. FOMO

The exchanges are loving their cut every time you trade these "magic nothings" Wake up.

That being said block chain will still change the future, what is the Pump and Dump for tonight?

Dude, and I thought I was unemployed! I've limited myself to half a bottle. I'm not complaining. Best holiday in a while. : D

Yeah, I posted something about an S9 Antminer costing about $3k and being 500,000 x (not a typo) as effective as one of those 1080 cards. I saw a question other day by an Australian who did some numbers and even with our crazy electricity prices would make a modest profit after a year, by using a mining pool.

Of course, that doesn't include the potential for the total hash rate to double by the end of the year thus cutting his profits smaller and smaller each month (it's better to just buy bitcoin).

The point being that for SHA256 mining a GPU is pathetic. And that's an understatement. I don't get why nVidia stocks are climbing when for $100 I can outperform one of their cards by 500x. Makes no sense. Sounds like Mr. Market in effect.

I did have some fun thinking about how much an Antminer S9 (practically the Volvo of the mining world) can outperform an nVidia GPU. (bit tipsy now) I think it was 500,000x I came up with 30MH/s vs 15TH/s. Imagine getting one miner, a dude with a mining helmet on and all, and 500,000 of them; the MCG at capacity, five time over.

Or, 1 year of work vs 500,000 years of work.

______

Yeah; I missed Ripple too. I was thinking about it just under $1. Nothing long term because I don't think it will work long term. It is just going to join the list of alt coins that were once a contender to the crown.

The trend this month [cough cough/puke] is "partnerships with some big business". It's ridiculous of course.

Let me just throw the grenade in here. Here's the completely possible hypothetical: Ripple actually does form a partnership with some international bank and they need to use XRP. Problem is the price of it has gone through the roof on the news. They can't afford to buy enough to pull the whole deal off.

Ripple (the company) freak out a little because it's all falling through. But there's an easy solution; print more XRP to drop its price, and/or sell that new chunk to the company they have partnered with. Why not? It's imaginary money anyway; purely digital.

The whole point of cryptocurrencies is that you can't do that. At all. Impossible. Ripple is breaking this fundamental rule for a short term gain. People are all-of-a-sudden besotted with professional looking companies.

Anyone with Westpac? Know how **** and unprofessional they are? They have their little logo proudly associated with RIpple, as do a couple other companies I have actually worked for for many years. They are a disaster zone behind the scenes. You wouldn't believe me if I told you.

Stick with the original. The second layer is only just beginning this year. Lightning Network is actually here (beta) and RootStock too. Theoretically once they are stable (and we know how pedantic Bitcoin devs are, they're like Mayweather; zero issues) ...theoretically once they are both stable they provide a DAG like IOTA, and a rich(er) scripting language like Ethereum. Theoretically there is actually no more need for alt coins as they can all be replaced by second layer Bitcoin applications.

Might get interesting.

Dude has still got invested $50 of his own money in his own DOGECOIN, when it only has a foul $2,000,000,000 market cap.

Risky business this Crypto. Dude should get out while he can with his $$. There are some idiots out there.

Kinda feel I should Gold panel my Lambo when I moon. Will be too heavy to drive or use but who cares, or serve any purpose at all. Hahha Normies.

Nah I don't trust ya Nowind. I will make my own Lambo style choices.

But I just heard of a scam where if you feed chickens ****, stuff you wouldn't even eat, they **** it out as food in a convenient package.

Don't tell anyone, but I reckon it could be the next big thing.

Same people told me if you masturbate cows, you get a similar reward. I got kicked in the face. Although insiders told me there would be a different result.

Last time I listen to scammers.

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