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Bitcoin inflation rate will reduce to be less than gold. Unlike Gold or U.S Dollar, this number can be predicted to perfect accuracy. https://bitcoinvisuals.com

by r32a_ 8y ago

Bitcoin inflation rate will reduce to be less than gold. Unlike Gold or U.S Dollar, this number can be predicted to perfect accuracy. https://bitcoinvisuals.com/misc-future-supply https://bitcoinvisuals.com/misc-future-supply Bitcoin hyperinflation during the early period is part of the design? It gave incentive to people invest money into the network and asset. Many of those addresses are known addresses of exchanges, yes it's a problem that everyone puts money into the exchanges. However that is changing, new decentralized exchanges, atomic swap technologies already exist for people to move away from centralized exchanges. The industry has come a long way and still has further to go. Also the "regulated" banks that you speak of, plunged the world into the financial crisis and got away with it no harm. These "regulated" are constantly caught break multiple laws and manipulating markets. https://en.wikipedia.org/wiki/Libor_scandal https://en.wikipedia.org/wiki/Libor_scandal https://www.telegraph.co.uk/business/2017/12/11/hsbc-spared-us-money-laundering-sanctions-battles-clean-act/ https://www.telegraph.co.uk/business/2017/12/11/hsbc-spared-... http://www.cityam.com/269831/goldman-sachs-hit-52m-fine-short-selling http://www.cityam.com/269831/goldman-sachs-hit-52m-fine-shor... https://www.bloomberg.com/news/articles/2018-05-01/goldman-sachs-to-pay-110-million-to-n-y-fed-for-forex-conduct https://www.bloomberg.com/news/articles/2018-05-01/goldman-s...

nosuchthing 8y ago
The issue you're ignoring is accountability. Decentralized exchanges are a myth. Someone is creating the software and with the added complexity, lack of accountability with anonymous developers comes the risk of malware hidden in software updates. The only reason I can imagine you or anyone would try to argue that the answer to an imperfect legal, regulatory, and financial system is to abolish it and move to a new system designed to bypass accountability and where the money supply was designed to be minted very rapidly to an anonymous group of oligarchs who then simply horde it, would be because there's a strong psychological motivation for you to attempt to convince other people to "buy" into your deregulated penny stock database not because there's any real world benefit over a regulated system, but because you simply want to sell your stock for a higher price - leaving the greater fools who buy database tokens holding a bag of something they can't use anywhere. Deregulation helps against malicious actors how?? https://medium.com/cryptopay/list-of-known-bitcoin-scams-beware-of-fraudsters-de8f7442acd0 https://medium.com/cryptopay/list-of-known-bitcoin-scams-bew... https://bitcointalk.org/index.php?topic=576337 https://bitcointalk.org/index.php?topic=576337 Bitcoin and cryptocoins have been plagued with malicious actors since its inception. From Satoshi's wallets to MTGOX, the countless Bitcoin hacks and scams. https://en.wikipedia.org/wiki/Mt._Gox https://en.wikipedia.org/wiki/Mt._Gox https://bitcointalk.org/index.php?topic=576337#post_linode_hacks https://bitcointalk.org/index.php?topic=576337#post_linode_h... https://bitcointalk.org/index.php?topic=576337#post_allinvain_theft https://bitcointalk.org/index.php?topic=576337#post_allinvai... https://bitcointalk.org/index.php?topic=576337#post_bitfloor_theft https://bitcointalk.org/index.php?topic=576337#post_bitfloor... yet another major Bitcoin bank/exchange has exit scammed. https://www.blockhaven.ca/releases/quadrigacx-a-potential-risk-for-investors https://www.blockhaven.ca/releases/quadrigacx-a-potential-ri... https://www.theguardian.com/technology/2015/mar/18/bitcoin-deep-web-evolution-exit-scam-12-million-dollars https://www.theguardian.com/technology/2015/mar/18/bitcoin-d... https://bitcoinmagazine.com/articles/fraudulent-south-korean-exchange-pure-bit-nabs-28m-ico-exit-scam/ https://bitcoinmagazine.com/articles/fraudulent-south-korean... When was the last time a Bank collapsed and FDIC insured deposits were lost? https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/ https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoi... https://coinnewstelegraph.com/ethereum-news-new-zealand-based-cryptopia-exchange-suffers-hacker-attack-exit-scam-suspected/ https://coinnewstelegraph.com/ethereum-news-new-zealand-base... http://blogs.telegraph.co.uk/technology/willardfoxton2/100007836/bitcoin-pirate-scandal-sec-steps-in-amid-allegations-that-the-whole-thing-was-a-ponzi-scheme/ http://blogs.telegraph.co.uk/technology/willardfoxton2/10000... https://en.bitcoin.it/wiki/MyBitcoin https://en.bitcoin.it/wiki/MyBitcoin https://bitcoinist.com/canada-maplechange-exit-scam/ https://bitcoinist.com/canada-maplechange-exit-scam/
- r32a_ 8y ago
  This is a feature not a bug of bitcoin. As the saying goes in the community, "Not your keys, not your coins", you're not supposed to store coins on an exchange. But nearly everyone does. Everyone is encouraged to hold their own keys and be responsible for their coins. As UX and wallets improve more and more people are holding their own coins. The people that store coins on exchanges must understand the risk of holding coins on exchanges. It's a reality of crypto. It's true, current iterations of DEX are not really DEX, they are all centralized companies, these things take time to build, it's not a simple photo-sharing app. If it turns out that is impossible to build a true DEX then you can always do shapeshift style atomic swaps and those are here today! Bitcoin hacks and scams are not related to Bitcoin. There are even more hacks and scams that happen in the regular finance industry. From SWIFT being hacked to countless and countless of scams by small and big companies. Are you seriously saying that Bitcoin only suffers from scams?? The difference between a Bitcoin bank failing and regular bank failing is that, if Bitcoin bank fails, for people who have stored their coins safely won't be affected. Sure the price will fluctuate because of the news but I still have my coins. When a regular bank fails the entire country has to pay the price and money is printed and currency is debased. Everyone has to pay for the mistake of a few.
  - nosuchthing 8y ago
    No customer protection and irreversible transactions = "This is a feature not a bug of bitcoin." Shapeshift is not an atomic swap, it's an exchange and they charge a large fee on top of the current spot price determined by other major exchanges. Bitcoin hacks are related to Bitcoin because Bitcoin/Ethereum is software. See: https://www.livebitcoinnews.com/cve-2018-17144-the-aftermath-of-a-catastrophic-bitcoin-bug/ https://www.livebitcoinnews.com/cve-2018-17144-the-aftermath... When was the SWIFT protocol hacked? I'm guessing you're confusing stolen credentials with "hack" in that case which is indeed similar to the many cases where cryptocoin exchanges get hacked though stolen credentials and user funds are taken - except if that happens to your account at a normal bank you're protected with FDIC insurance or something similar depending on your bank. You're confused. Regular banks fail, and customer funds are protected. When a regular bank fails, that has absolutely nothing to do with debasing currency, nor does it affect the inflation rate. When you use Bitcoin there's a lot of trust needed that can't be guaranteed or verified, and while problems exist with traditional payment systems at least customers have protections and criminals or bad businesses can be held accountable. I'm not sure why you think avoiding a legal system, or avoiding financial regulations would help solve any of the problems with malicious scams and abuse? It sounds more like you're attempting to sell a product that does not fix any of those things, hoping to convince an audience to buy into an oligarchical penny stock ala https://en.wikipedia.org/wiki/Company_scrip https://en.wikipedia.org/wiki/Company_scrip

by r32a_ 8y ago

nosuchthing 8y ago

The issue you're ignoring is accountability. Decentralized exchanges are a myth. Someone is creating the software and with the added complexity, lack of accountability with anonymous developers comes the risk of malware hidden in software updates. The only reason I can imagine you or anyone would try to argue that the answer to an imperfect legal, regulatory, and financial system is to abolish it and move to a new system designed to bypass accountability and where the money supply was designed to be minted very rapidly to an anonymous group of oligarchs who then simply horde it, would be because there's a strong psychological motivation for you to attempt to convince other people to "buy" into your deregulated penny stock database not because there's any real world benefit over a regulated system, but because you simply want to sell your stock for a higher price - leaving the greater fools who buy database tokens holding a bag of something they can't use anywhere. Deregulation helps against malicious actors how?? https://medium.com/cryptopay/list-of-known-bitcoin-scams-beware-of-fraudsters-de8f7442acd0 https://medium.com/cryptopay/list-of-known-bitcoin-scams-bew... https://bitcointalk.org/index.php?topic=576337 https://bitcointalk.org/index.php?topic=576337 Bitcoin and cryptocoins have been plagued with malicious actors since its inception. From Satoshi's wallets to MTGOX, the countless Bitcoin hacks and scams. https://en.wikipedia.org/wiki/Mt._Gox https://en.wikipedia.org/wiki/Mt._Gox https://bitcointalk.org/index.php?topic=576337#post_linode_hacks https://bitcointalk.org/index.php?topic=576337#post_linode_h... https://bitcointalk.org/index.php?topic=576337#post_allinvain_theft https://bitcointalk.org/index.php?topic=576337#post_allinvai... https://bitcointalk.org/index.php?topic=576337#post_bitfloor_theft https://bitcointalk.org/index.php?topic=576337#post_bitfloor... yet another major Bitcoin bank/exchange has exit scammed. https://www.blockhaven.ca/releases/quadrigacx-a-potential-risk-for-investors https://www.blockhaven.ca/releases/quadrigacx-a-potential-ri... https://www.theguardian.com/technology/2015/mar/18/bitcoin-deep-web-evolution-exit-scam-12-million-dollars https://www.theguardian.com/technology/2015/mar/18/bitcoin-d... https://bitcoinmagazine.com/articles/fraudulent-south-korean-exchange-pure-bit-nabs-28m-ico-exit-scam/ https://bitcoinmagazine.com/articles/fraudulent-south-korean... When was the last time a Bank collapsed and FDIC insured deposits were lost? https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/ https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoi... https://coinnewstelegraph.com/ethereum-news-new-zealand-based-cryptopia-exchange-suffers-hacker-attack-exit-scam-suspected/ https://coinnewstelegraph.com/ethereum-news-new-zealand-base... http://blogs.telegraph.co.uk/technology/willardfoxton2/100007836/bitcoin-pirate-scandal-sec-steps-in-amid-allegations-that-the-whole-thing-was-a-ponzi-scheme/ http://blogs.telegraph.co.uk/technology/willardfoxton2/10000... https://en.bitcoin.it/wiki/MyBitcoin https://en.bitcoin.it/wiki/MyBitcoin https://bitcoinist.com/canada-maplechange-exit-scam/ https://bitcoinist.com/canada-maplechange-exit-scam/

r32a_ 8y ago
This is a feature not a bug of bitcoin. As the saying goes in the community, "Not your keys, not your coins", you're not supposed to store coins on an exchange. But nearly everyone does. Everyone is encouraged to hold their own keys and be responsible for their coins. As UX and wallets improve more and more people are holding their own coins. The people that store coins on exchanges must understand the risk of holding coins on exchanges. It's a reality of crypto. It's true, current iterations of DEX are not really DEX, they are all centralized companies, these things take time to build, it's not a simple photo-sharing app. If it turns out that is impossible to build a true DEX then you can always do shapeshift style atomic swaps and those are here today! Bitcoin hacks and scams are not related to Bitcoin. There are even more hacks and scams that happen in the regular finance industry. From SWIFT being hacked to countless and countless of scams by small and big companies. Are you seriously saying that Bitcoin only suffers from scams?? The difference between a Bitcoin bank failing and regular bank failing is that, if Bitcoin bank fails, for people who have stored their coins safely won't be affected. Sure the price will fluctuate because of the news but I still have my coins. When a regular bank fails the entire country has to pay the price and money is printed and currency is debased. Everyone has to pay for the mistake of a few.
- nosuchthing 8y ago
  No customer protection and irreversible transactions = "This is a feature not a bug of bitcoin." Shapeshift is not an atomic swap, it's an exchange and they charge a large fee on top of the current spot price determined by other major exchanges. Bitcoin hacks are related to Bitcoin because Bitcoin/Ethereum is software. See: https://www.livebitcoinnews.com/cve-2018-17144-the-aftermath-of-a-catastrophic-bitcoin-bug/ https://www.livebitcoinnews.com/cve-2018-17144-the-aftermath... When was the SWIFT protocol hacked? I'm guessing you're confusing stolen credentials with "hack" in that case which is indeed similar to the many cases where cryptocoin exchanges get hacked though stolen credentials and user funds are taken - except if that happens to your account at a normal bank you're protected with FDIC insurance or something similar depending on your bank. You're confused. Regular banks fail, and customer funds are protected. When a regular bank fails, that has absolutely nothing to do with debasing currency, nor does it affect the inflation rate. When you use Bitcoin there's a lot of trust needed that can't be guaranteed or verified, and while problems exist with traditional payment systems at least customers have protections and criminals or bad businesses can be held accountable. I'm not sure why you think avoiding a legal system, or avoiding financial regulations would help solve any of the problems with malicious scams and abuse? It sounds more like you're attempting to sell a product that does not fix any of those things, hoping to convince an audience to buy into an oligarchical penny stock ala https://en.wikipedia.org/wiki/Company_scrip https://en.wikipedia.org/wiki/Company_scrip