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Thread: Tangled Math Beats BitCoin

  1. #11
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    Focusing on price or on particular crypto currencies is myopic By that measure, IOTA is down even more in % in spite of it's advantages. I'm gradually investing into the most promising coins and tokens, focusing on those that offer solutions for scaling, smart contracts, privacy, messaging, and distributed exchanges. I'm less focused on how much money I may make or lose, and more focused on the long term technological revolution that we are in. Losing the tiny fraction of my money I'm putting into this doesn't bother me as much as not participating in the most important technological trend since the internet.

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  2. #12
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    I run experiments all the time, that's where the fun and challenges are.

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  3. #13
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    We fear what we do not know. It has always been like that and it will always be so.
    We should stop thinking about the Bitcoin as a currency that people can use to buy or sell things. Of course you can, but it would be a misuse.
    Bitcoin is more like gold, an asset to keep in the own portfolio to differentiate the investments. A risky one for sure, but with a huge revenue potential.
    There are plenty of other altcoins to be used if we are interested in the e-commerce, bank transactions or distributed communication.
    Ethereum can use smart contracts to generate secure and fast transactions without a third party involvement/interaction. To send and receive money across the world, the best option is most likely Ripple. For the internet of things there is IOTA. Bitcoin was simply the first. Saying that it is slow for transactions means we did not understand it. I do not buy a burger with gold. Technically speaking I'm not even using dollars to buy goods on Amazon, I do that with a credit card and the underneath circuit. The new circuit is the ledger and it is safer and cheaper (and it is going to be faster). You can send money in another continent in less than 5 minutes with Ripple (now it takes days and many dollars). Think about blockbuster and netflix. There is no such a thing like too big to fail. Banks in fact are already trying to invest in this new revolution. Bitcoin is not the One Ring, it has its own use cases. It will be soon obsolete in terms of blockchain technology, but it will always remain the crypto gold standard, so to me, it is not going to die (explode).

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  4. #14
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    Quote Originally Posted by astilo View Post
    We fear what we do not know. It has always been like that and it will always be so.
    We should stop thinking about the Bitcoin as a currency that people can use to buy or sell things. Of course you can, but it would be a misuse.
    Bitcoin is more like gold, an asset to keep in the own portfolio to differentiate the investments. A risky one for sure, but with a huge revenue potential.
    There are plenty of other altcoins to be used if we are interested in the e-commerce, bank transactions or distributed communication.
    Ethereum can use smart contracts to generate secure and fast transactions without a third party involvement/interaction. To send and receive money across the world, the best option is most likely Ripple. For the internet of things there is IOTA. Bitcoin was simply the first. Saying that it is slow for transactions means we did not understand it. I do not buy a burger with gold. Technically speaking I'm not even using dollars to buy goods on Amazon, I do that with a credit card and the underneath circuit. The new circuit is the ledger and it is safer and cheaper (and it is going to be faster). You can send money in another continent in less than 5 minutes with Ripple (now it takes days and many dollars). Think about blockbuster and netflix. There is no such a thing like too big to fail. Banks in fact are already trying to invest in this new revolution. Bitcoin is not the One Ring, it has its own use cases. It will be soon obsolete in terms of blockchain technology, but it will always remain the crypto gold standard, so to me, it is not going to die (explode).
    Look at Interactive Brokers, they can do everything crypto currencies can do with far faster speed and much more safety. You can trade around the world almost instantly with safety and confidence.

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  5. #15
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    Quote Originally Posted by Arthur Hanson View Post
    Look at Interactive Brokers, they can do everything crypto currencies can do with far faster speed and much more safety. You can trade around the world almost instantly with safety and confidence.
    Trading is just one aspect though. Have a look here: A Guide to Sending Money in the US | Ripple

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  6. #16
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    Semiwiki may be obsolete. Here is a story about a Norwegian entrepreneur that has developed a revolutionary semiconductor process (and I assume chip design) that will take over more than 50% of Bitcoin mining - bye bye security.

    Here is the link:

    Norwegian entreprenour plans to put chinese miners out of a job ! atleast some of them :P - BITCOIN - The Bitcoin Pub

    Story should probably be taken with a grain of salt.

    With 50% of the mining power they will be able to corrupt the chain. It seems to me that wasting so much energy on something that could be provided if people could work together and agree on legal rules is not a good idea.

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  7. #17
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    Quote Originally Posted by smeyer0028 View Post
    It seems to me that wasting so much energy on something that could be provided if people could work together and agree on legal rules is not a good idea.
    So you are dreaming that having agreement in legal rules between different jurisdictions within states and between states all over the world is the easy solution ?

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    Trust me ...
    I know what I am doing.

  8. #18
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    Scale and economic power

    The potential for crypto currencies to redefine commerce is so huge it is hard to "see" as we have grown up in the Plato's Cave of thousands of years old "money". To have ultra cheap and 100% reliable value transfer opens up the world to commerce and opens commerce to the world (as in the physical IoT world). It boggles the mind. To deny that is to say you don't need Google because you had a phone book already.

    So now how do we get there? I am a believer that Moore's Law is over in terms of cost effective and power efficient scaling, so we will rely increasingly on software tricks or quantum computing to move forward. It is, as is often the case, the irresistible force meeting the immovable object. Note how in his comments about changing FaceBook Zuckerberg included these comments: "There are important counter trends to this -- like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands ... I'm interested to go deeper and study the positive and negative aspects of these technologies and how to best use them in our services." In short, he seems sort of worried that cryptocurrencies can turn FB inside out. Also note how after way too many years in power the CEOs of Morgan Stanley and Goldman Saks are rumored to consider retiring this year. Still waters can run deep.

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