Bitcoin, How it works !

You can still afford that lambo!

Of course it has a lot further to fall....it hasn't reached zero yet.

How many times will the dead cat bounce?

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Underoath said..
Its almost like you want to see it crash and burn.

schadenfreude...

How much did you throw at it?

I want it to crash big time hope the guys that invested go broke.. Im over reading all the bull**** get rich quick what's the next bull**** bull**** has risen 100percent. I'm a bull**** millionaire I'll retire before I'm bull**** , can't make a loss on bull**** it's everywhere you go.


Just remember.
Aus is a good country
Theres no easy way to make money.
If you think you can outsmart the next bloke think again.
If people can take advantage of you they will.
In some countries people will put a gun to your head to feed thier family.
Make no mistake this is a dog eat dog world.
NO_CONVERSATION_EXISTS

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busterwa said..
I want it to crash big time hope the guys that invested go broke.. Im over reading all the bull**** get rich quick what's the next bull**** bull**** has risen 100percent. I'm a bull**** millionaire I'll retire before I'm bull**** , can't make a loss on bull**** it's everywhere you go.


Just remember.
Aus is a good country
Theres no easy way to make money.
If you think you can outsmart the next bloke think again.
If people can take advantage of you they will.
In some countries people will put a gun to your head to feed thier family.
Make no mistake this is a dog eat dog world.
NO_CONVERSATION_EXISTS

I don't think many people are putting large sums of money into Crypto. Market cap is 500billion - thats not a great deal in the scheme of things.

Its your everyday hero who might have a flutter with 1or 2k.

Of that 500billion, most of the cryptos would have been purchased at 10% of the current prices/or less. So that's like 50b of investment. As market caps are calculated on the last sale price * tokens available. (Not total price paid)

Sep 11- An estimated $1.4 trillion in value was lost in those five days of trading.

Crypto is tiny tiny tiny.

Crypto/blockchain isn't going away, the decentralized ledger is already been implemented.

Watch regulation come fast and hard this year, confirming its validity.

Prices will fluctuate and some will crash and burn. But the good ones will last forever....

Select to expand quote

Underoath said..

busterwa said..
I want it to crash big time hope the guys that invested go broke.. Im over reading all the bull**** get rich quick what's the next bull**** bull**** has risen 100percent. I'm a bull**** millionaire I'll retire before I'm bull**** , can't make a loss on bull**** it's everywhere you go.


Just remember.
Aus is a good country
Theres no easy way to make money.
If you think you can outsmart the next bloke think again.
If people can take advantage of you they will.
In some countries people will put a gun to your head to feed thier family.
Make no mistake this is a dog eat dog world.
NO_CONVERSATION_EXISTS

I don't think many people are putting large sums of money into Crypto. Market cap is 500billion - thats not a great deal in the scheme of things.

Its your everyday hero who might have a flutter with 1or 2k.

Of that 500billion, most of the cryptos would have been purchased at 10% of the current prices/or less. So that's like 50b of investment. As market caps are calculated on the last sale price * tokens available. (Not total price paid)

Sep 11- An estimated $1.4 trillion in value was lost in those five days of trading.

Crypto is tiny tiny tiny.

Crypto/blockchain isn't going away, the decentralized ledger is already been implemented.

Watch regulation come fast and hard this year, confirming its validity.

Prices will fluctuate and some will crash and burn. But the good ones will last forever....

Nothing lasts forever

Yep. It "crashed" to $USD10,000.

Who cares? Bitcoin the protocol (not the currency that is its first application) is still being developed. It will of course continue to be developed.

Just want to emphasise: there is Bitcoin the protocol, and bitcoin the currency that runs on it.

Bitcoin is layer 1 in a protocol stack. It's not unlike ethernet. We can't say it is like ethernet because it is not, but it is similar. Just like ethernet and the internet protocol suite was completely new ground and not like anything that came before it so is the Bitcoin stack. Ethernet too was incredibly slow and inefficient. It too broadcasts everything to every node. There is no way you could transmit voice or god forbid video over it, email was hard enough. And yet here we are in 2018 transmitting streaming 4K HDR video over the internet and there is ethernet still at the bottom of the stack. Impossible.

Bitcoin will continue to be improved and made more efficient very slowly and carefully because a lot is at stake, and blockchain development is like no other. You can't **** up a release and just issue a patch and a refund for everyone affected. The media and zeitgeist has picked up on it a bit too early in its development and is expecting FaceBook on a Nokia dumb phone. Bitcoin is a turtle. The race is long and only just begun.

The Bitcoin protocol stack is continuing to be developed with Layer 2 looking to be the Lightning Network. It's still buggy although some brave people are using it on Mainnet. It's still broadcasting the transactions, routing via the cheapest path is still being developed. Will it work in the end? Of course it will. There's no reason to stop until it does.

By the way layers is how you do software. Good software, like your operating system, is a history of layers tinkered out and then solidified on top of each other, with applications run on top (and then apps on top of apps). So will be Bitcoin. Most of the alt coins are like those advertisements (and nothing more) for tools that grind and lathe and weld and join and lay bricks and polish all in one. They are ridiculous.

I've got some bitcoin in cold storage. I'm not a trader. I check the price once-a-week if I'm lucky. Wake me up in 2025. The best traders are the ones that forgot they owned anything.

Sources:
en.wikipedia.org/wiki/Internet_protocol_suite
Good video on Lightning Network here: www.youtube.com /watch?v=5wOqgUjYwc0

wired article on Lightning Network: www.wired.com/story/the-lightning-network-could-make-bitcoin-faster-and-cheaper/

When's the graph go vert again?