1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[No..Money..Mo..Problems]

Totally untrue. Infrastructure is everything. Especially in Networking, especially in Computer Science and especially in Economics and Bitcoin is a convergence of all 3. The most ignorant thing you could possibly have said

Bitcoin transactions are powered by people who set up shop as “miners,” running software originally designed by Nakamoto that creates the network that does the work of processing transactions. Bitcoin’s capacity is set by the frequency with which miners add new batches of confirmed transactions to bitcoin’s digital ledger, or blockchain and the way the bitcoin protocol routes data through its network.

In 2016 bitcoins infrastructure grew by about 70% cuz of computer and telecom upgrades but the Bitcoin network could only process about the same number of transactions. The have studies from Universities done on Bitcoins scaling issues breh. You not gone run a windows 95 and say but I have high speed internet that's not how it works breh.

 

[No..Money..Mo..Problems]

lmao..there was legit only around 4 or 5 blockchain engineers in existence at that time

But yall said it was unhackable if that's the case the initial breach should of never happened because the blockchain technology should of blocked it right? The security has gotten better with more people but don't tell me it's unhackable breh cuz it is.

 

[Malta]

But yall said it was unhackable if that's the case the initial breach should of never happened because the blockchain technology should of blocked it right? The security has gotten better with more people but don't tell me it's unhackable breh cuz it is.

You're trying to use faulty coding from when the tech was in it's infancy to prove a point


Again have hackers stopped trying to crack the egg?

 

[FSP]

Bitcoin transactions are powered by people who set up shop as “miners,” running software originally designed by Nakamoto that creates the network that does the work of processing transactions. Bitcoin’s capacity is set by the frequency with which miners add new batches of confirmed transactions to bitcoin’s digital ledger, or blockchain and the way the bitcoin protocol routes data through its network.

In 2016 bitcoins infrastructure grew by about 70% cuz of computer and telecom upgrades but the Bitcoin network could only process about the same number of transactions. The have studies from Universities done on Bitcoins scaling issues breh. You not gone run a windows 95 and say but I have high speed internet that's not how it works breh.

See, there again you're wrong. It's processing the same number of blocks per 10 minutes but the number of transactions is a variable number. Blocks are finite size limit that can be process more or less transactions depending on how much tx data is in that block. Segwit was implemented to reduce the amount of data in each block by un-appending unneccesary transaction data to speed up confimation times and reduce miner fees

see here Average Number Of Transactions Per Block

The network can handle many more transactions per block than it could back in November before segwit. (It just so happens that the number of total transactions has gone down and that explains the decrease in #of transactions mined per block today)

Also what's beginning to happen is confirmations of transactions off chain such as Lightning Network

This explains the decrease in miners fee even though many more transactions can be processed at a faster rate.

You're analogy makes no sense at all either.

 

[No..Money..Mo..Problems]

It's 2018, what happened to BTC in it's infancy has no bearing on today. I know nothing about BTC yet you're harping on about high transaction fees when those were addressed two months ago. Do you think hackers have just stopped trying to compromise Bitcoin?

You not gone wiggle yourself out of this one breh. You specifically said the block chain technology was gone change the world. Bitcoin is still being run on the same principals of block chain that it was back in the day with some tweaks. There's a ledger and than people confirm transactions. So if the theory of block chain is that it's unhackable because no one person control the servers than how was it possible for it to get hacked. The reason nobody has been able to hack Bitcoin now is simple nobody been able to figure out a new way. Once somebody does though it will get hacked. I'm sure Apple was getting hacked all the time in it's Earl days the security has gotten better but it's still not hack proof. Same thing with bitcoin the security measures have gotten better but you can't use the " the technology" is unhackable line.

 

[FSP]

But yall said it was unhackable if that's the case the initial breach should of never happened because the blockchain technology should of blocked it right? The security has gotten better with more people but don't tell me it's unhackable breh cuz it is.

I don't remember anyone saying it was unhackable back then. Now, it's not really hackable.

It is in theory, but it's not in practice. The chanes are infintesimially small at this point for the blockchain itself to get hacked. any known hack would first of all tank the value of the coin thus de-incentivizing people to want to hack it in the first place. Secondly it would require more cost in hardware than you would get back in coin value. You'd be much better off trying to hack a different blockchain.

A software that gets hacked once in 9 years with billions of transactions is essentially unhackable, breh. Visa, Mastercard, any retail store, Apple, any other private software has been hacked more times than that

 

[Malta]

You not gone wiggle yourself out of this one breh. You specifically said the block chain technology was gone change the world. Bitcoin is still being run on the same principals of block chain that it was back in the day with some tweaks. There's a ledger and than people confirm transactions. So if the theory of block chain is that it's unhackable because no one person control the servers than how was it possible for it to get hacked. The reason nobody has been able to hack Bitcoin now is simple nobody been able to figure out a new way. Once somebody does though it will get hacked. I'm sure Apple was getting hacked all the time in it's Earl days the security has gotten better but it's still not hack proof. Same thing with bitcoin the security measures have gotten better but you can't use the " the technology" is unhackable line.

Again, you're trying to use faulty coding as a means to prove a point, BTC wasn't even 2 years old at the time. What does that have to do with today? as @FSP pointed out there weren't even 10 engineers working on it then, yet here you are trying to use that as an example for today. An earlier version of BTC was exploited, and nobody has figured out a way to exploit it today and it's not for a lack of trying. Either it can be hacked today or it can't, which is it?

 

[Supa]

Bitcoin transactions are powered by people who set up shop as “miners,” running software originally designed by Nakamoto that creates the network that does the work of processing transactions. Bitcoin’s capacity is set by the frequency with which miners add new batches of confirmed transactions to bitcoin’s digital ledger, or blockchain and the way the bitcoin protocol routes data through its network.

You were just asking someone to explain blockchain to you and now you're sounding like an expert

Nah, you just plagiarized your reply:

Credit your sources

While scaling is an issue it's already being addressed. BTC has Lightning, Neo has Trinity, Ethereum has Plasma, etc. It's not a fatal flaw. It's an obstacle that's mainly due to the tech being in its infancy. The solutions are already moving forward.

 

[FSP]

You were just asking someone to explain blockchain to you and now you're sounding like an expert

Nah, you just plagiarized your reply:

Credit your sources

While scaling is an issue it's already being addressed. BTC has Lightning, Neo has Trinity, Ethereum has Plasma, etc. It's not a fatal flaw. It's an obstacle that's mainly due to the tech being in its infancy. The solutions are already moving forward.

lmao. Dude ran

 

[the bossman]

Good luck trying to hack the Sha256 algorithm. Been almost 20 years

 

[Perfectson]

Eh, Peter Brandt called for an 80% retrace which had nothing to do with taxes -





Essentially BTC went up entirely too quickly without the adequate support levels and had to come back down before it could ever reach back for new highs.

this isn't a test of resistance or anything charting, there's a legit massive move of money in BTC, LTC, and ETH.

Peter Brandt is just another long live of "experts" guessing and using chart work to support guesses. I could find 10 other analysts who stating BTC would be well within the 20K range.

retracements don't just happen , this isn't some mathmatical equation, real people are buying and selling. And right now there's ahuge outflow of money and this after we just had one a month and half ago,

the market cap of BTC is different than in 2014 as well, if you really think that the current market cap is going to lose 80% just because then I don't know what to tell anyone.

I posted my links which all support that they are seeing people sell due to taxes and you post a link of graph that means nothing.

with all due respect btw.

 

[Perfectson]

How low is it projected to go on this last leg? What is your suggestion buy when it bottoms out today or wait for the G20 news?

once tax selling are done which is by April there should be stability IMO

 

[SadimirPutin]

Have any of you bought anything in the real world in the last year with Bitcoin or any other crypto currency?

 

[Perfectson]

another thing i stated was that the ICO game was basically destroyed compared to what it was even a year ago. Many of you laughed and called bullshyt. POsting erraneous ROIs on ICOs

meanwhile


"Vaporware" ICO Tokens are Already Trading Below Their Offering Price



of course you will all bark "but it's different for legimitate ones" - if you have that crystal ball please share it

 

[BushidoBrown]

wonder how them winklevoss fukknikkas is doing right now
also, @heisenburrr how u lookin? from what i rememer u was on this shxt early like 2014 or some sht like that