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What's the future of cryptocurrencies ?

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LoveNotHate
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02 Sep 2017, 3:36 pm

Cryptocurrencies .... never made sense to me ... so I missed the boat.

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....
2. It is a government-independent currency.
3. The distributed block-chain is a more secure transaction history.

My argument to others has been, "a credit card is better".

A credit card lets you "charge-back", which cryptocurrencies don't permit.

What do you think?

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0_equals_true
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02 Sep 2017, 4:36 pm




The technology behind it goes further than currency



LoveNotHate
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02 Sep 2017, 4:50 pm

0_equals_true wrote:


He says that taking out the "escrow account"/"middle man" is a "revolutionary change".

I say it's the biggest negative with cryptocurrency.

-You lose fraud protection.
-You lose the ability to "charge-back" if you get ripped off.



0_equals_true
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02 Sep 2017, 5:20 pm

watch this



0_equals_true
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02 Sep 2017, 5:37 pm

Charge back is often a form of fraud. Companies like Paypal are notoriously bad at arbitrating fraud, often siding with the fraudster. Same with banks. If a bank deems a transaction authorized it is legitimate as far as they are concerned, they won't compensate.



naturalplastic
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03 Sep 2017, 6:25 am

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....
***************************************************************************************


Is that an argument FOR? Or an argument against cryptocurrencies?



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13 Sep 2017, 12:41 am

The future of crypotocurr/blockchain has already been determined by and co-opted by the TBTF banks. All physical notes/coins will be pulled from circ. and all financial transactions worldwide shall be electronic only.

Ethereum and poss.others will form the global electronic fiat monetary system.
Blockchain will also changed the way all contracts are performed.



The_Walrus
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14 Sep 2017, 12:36 pm

Bitcoin is a dead currency walking - it simply takes too much energy to maintain the ledger and as it becomes more popular it becomes slower.

Other currencies might have some limited roles to play as alternatives to government-backed ones, but ultimately I think blockchain is more likely to be used for things like customs arrangements.

LoveNotHate wrote:
Cryptocurrencies .... never made sense to me ... so I missed the boat.

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....

I am not sure that I understand this argument. It's much harder to buy things covertly using a cryptocurrency (where all money is publicly registered) than by using hard cash.



LoveNotHate
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14 Sep 2017, 3:58 pm

The_Walrus wrote:
Bitcoin is a dead currency walking - it simply takes too much energy to maintain the ledger and as it becomes more popular it becomes slower.

Other currencies might have some limited roles to play as alternatives to government-backed ones, but ultimately I think blockchain is more likely to be used for things like customs arrangements.

LoveNotHate wrote:
Cryptocurrencies .... never made sense to me ... so I missed the boat.

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....

I am not sure that I understand this argument. It's much harder to buy things covertly using a cryptocurrency (where all money is publicly registered) than by using hard cash.

Jamie Diamond recently said it better than me.

He said Bitcoin is good for contract killers, so they can covertly transact payment.

Two parties can transact illegal business without awareness of the other party.



LoveNotHate
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14 Sep 2017, 4:06 pm

naturalplastic wrote:
There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....
***************************************************************************************


Is that an argument FOR? Or an argument against cryptocurrencies?

A reason why they serve a purpose for some.

You can conduct illegal business without anyone knowing who you are.



Chichikov
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15 Sep 2017, 5:24 am

https://www.neowin.net/news/bitcoin-is- ... -chase-ceo



LoveNotHate
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15 Sep 2017, 6:08 am

Chichikov wrote:
https://www.neowin.net/news/bitcoin-is-a-fraud-which-will-blow-up-according-to-jpmorgan-chase-ceo

"The cryptocurrency market cap, which tracks the total value of all cryptocurrencies, now sits at just $112 billion after rising as high as $180 billion less than two weeks ago".
https://www.cryptocoinsnews.com/bitcoin ... exchanges/

Just in two weeks, an amazing 68 Billion dollars has been lost.



The_Walrus
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15 Sep 2017, 7:14 am

LoveNotHate wrote:
The_Walrus wrote:
Bitcoin is a dead currency walking - it simply takes too much energy to maintain the ledger and as it becomes more popular it becomes slower.

Other currencies might have some limited roles to play as alternatives to government-backed ones, but ultimately I think blockchain is more likely to be used for things like customs arrangements.

LoveNotHate wrote:
Cryptocurrencies .... never made sense to me ... so I missed the boat.

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....

I am not sure that I understand this argument. It's much harder to buy things covertly using a cryptocurrency (where all money is publicly registered) than by using hard cash.

Jamie Diamond recently said it better than me.

He said Bitcoin is good for contract killers, so they can covertly transact payment.

Two parties can transact illegal business without awareness of the other party.

Hiring a contract killer in Bitcoin means that everyone can see that you did it.

Hiring a contract killer over the internet via Paypal or your bank and only the single organisation handling the transaction can see that you did it.



LoveNotHate
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15 Sep 2017, 7:19 am

The_Walrus wrote:
LoveNotHate wrote:
The_Walrus wrote:
Bitcoin is a dead currency walking - it simply takes too much energy to maintain the ledger and as it becomes more popular it becomes slower.

Other currencies might have some limited roles to play as alternatives to government-backed ones, but ultimately I think blockchain is more likely to be used for things like customs arrangements.

LoveNotHate wrote:
Cryptocurrencies .... never made sense to me ... so I missed the boat.

There are three arguments I see:
1. You can covertly buy child porn, banned arms, illegal narcotics, send bribes, traffic money ....

I am not sure that I understand this argument. It's much harder to buy things covertly using a cryptocurrency (where all money is publicly registered) than by using hard cash.

As the video above points out, there is no "third party" that knows who is making the transaction.

Jamie Diamond recently said it better than me.

He said Bitcoin is good for contract killers, so they can covertly transact payment.

Two parties can transact illegal business without awareness of the other party.

Hiring a contract killer in Bitcoin means that everyone can see that you did it.

Hiring a contract killer over the internet via Paypal or your bank and only the single organisation handling the transaction can see that you did it.

Bitcoin is anonymous, unless you register with an Exchange.

That's why people are doing all these illegal activities with Bitcoin, because no one knows who they are.

See: What makes bitcoin 'anonymous'? (middle of page)
https://bitcoinmagazine.com/articles/is ... 447875283/



KaleyS
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28 Jun 2019, 11:45 am

Interesting info! I try following the news in this sphere. The last forecast I checked showed that the price on Bitcoin will increase in the nearest future, it might reach $28k. I want to add that if you want to find out the present state of the market and top predictions,. Maybe this source will be interesting and useful for someone.



Last edited by B19 on 14 Nov 2019, 8:29 pm, edited 1 time in total.: spammer

adrianna27
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10 Aug 2019, 11:20 am

I appreciate your post where you talking about cryptocurrency future!

Moderator Note: The above was posted by a sock puppet replying in this post to his previous spam link post. He has done this on WP under multiple identities. Please report suspicious links, posting in Bitcoin threads is one of his targets on WP.