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Let’s spell out the more blatant shortcomings of Bitcoin
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2021 Mar 8, 8:35am 2,836 views 191 comments
by GNL ➕follow (1) 💰tip ignore
« First « Previous Comments 118 - 157 of 191 Next » Last » Search these comments
118
WookieMan
2021 Mar 10, 12:08pm
WookieMan
2021 Mar 10, 12:08pm
G36 says
How to you acquire your BTC? How do you sell it? How do you store your physical wallet? Your keys and passwords?
How do you stop miners from controlling 51%? Security is multi-layered. How do you stop one early adopter of BTC from yo-yo'ing the price that has 500k coins? How do you trade it when the exchanges shut down due to government regulation and no one trusts it anymore? Or the criminals no longer think it's worth it to be in it and pick a different coin? Or the IRS classifies it as a different asset class and taxes it at 50%?
Answer one or all. The questions I ask are all legit possibilities and concerns for security and a bunch of other things.
Fact remains, you don't answer questions. So you're a pumper/spammer.
So today we heard from wookie about security and he confused exchange hacks with the Bitcoin network.
How to you acquire your BTC? How do you sell it? How do you store your physical wallet? Your keys and passwords?
How do you stop miners from controlling 51%? Security is multi-layered. How do you stop one early adopter of BTC from yo-yo'ing the price that has 500k coins? How do you trade it when the exchanges shut down due to government regulation and no one trusts it anymore? Or the criminals no longer think it's worth it to be in it and pick a different coin? Or the IRS classifies it as a different asset class and taxes it at 50%?
Answer one or all. The questions I ask are all legit possibilities and concerns for security and a bunch of other things.
Fact remains, you don't answer questions. So you're a pumper/spammer.
120
PeopleUnited
2021 Mar 10, 12:31pm
PeopleUnited
2021 Mar 10, 12:31pm
G36 says
Wild guess, these guys don’t pump bitcoin, plus I notice most of them were already rich. So it didn’t change their lives. Won’t change any of our lives. That is my point.
PeopleUnited says
wild guess here....we wont hear a response from PeopleUnited :)
Wild guess, these guys don’t pump bitcoin, plus I notice most of them were already rich. So it didn’t change their lives. Won’t change any of our lives. That is my point.
PeopleUnited says
Bitcoin changed my whole life, said no one ever.
121
Bitcoin
2021 Mar 10, 12:48pm
Bitcoin
2021 Mar 10, 12:48pm
PeopleUnited says
I agree with that. If you dont invest in Bitcoin you cant make money off of it. Duh.
Won’t change any of our lives. That is my point.
I agree with that. If you dont invest in Bitcoin you cant make money off of it. Duh.
122
Bitcoin
2021 Mar 10, 12:49pm
Bitcoin
2021 Mar 10, 12:49pm
So Wookie wanted to debate security of Bitcoin but wasnt able to produce a single link/website/article that proves that Bitcoin can be counterfeited. Not ONE. Think about that. There are websites that claim the earth is flat. But there isnt one link he can find that shows Bitcoin can be counterfeited??? Not one???
Next thing you know he will take the discussion to a personal level. Its always the same pattern.
Next thing you know he will take the discussion to a personal level. Its always the same pattern.
123
Bitcoin
2021 Mar 10, 12:51pm
Bitcoin
2021 Mar 10, 12:51pm
G36 says
Told you so! :)
he cant actually debate Bitcoin's security, so he starts personal stuff. Par for the course!
Next thing you know he will take the discussion to a personal level. Its always the same pattern.
Told you so! :)
he cant actually debate Bitcoin's security, so he starts personal stuff. Par for the course!
124
B.A.C.A.H.
2021 Mar 11, 8:10am
B.A.C.A.H.
2021 Mar 11, 8:10am
A much improved read now that I have the spammer on ignore. Still see some of his comments that you all have quoted. That's OK though.
I was working in what to this audience I might call Applied Nuclear Technology, as an employee while also doing my graduate thesis research in that area, when cold fusion became the "hot topic".
I remember reading long op-ed pieces in pop news sources of how it might work. Some respected science writers stuck their necks out to pen those articles.
Cold fusion came to dominate the agenda of the normally staid Electrochemical Society's biannual conference. The halls were packed with attendees. Many from the news media paid (probably, their employers paid) the high non-member registration fees to attend and listen to the mumbo-jumbo doublespeak talks.
Back at the job, and also the department at school, the Old Farts were skeptical. A few of the younger ones, including me, were hopeful that "this time it really is different", and if cold fusion really was a reality, a good "stick it to the man" phenomenon.
We know what happened after that. Cold Fusion was a head-fake. The "discoverers" of it, Professors Fleischmann and Pons, were True Believers. But what they "discovered" was a result of lack of rigorous attention to detail in their experiment protocols. Many, especially those who were not grounded in the field, had drunk the Cool-Aid.
You don't get it, you Old Fart: It's Different This Time.
I was working in what to this audience I might call Applied Nuclear Technology, as an employee while also doing my graduate thesis research in that area, when cold fusion became the "hot topic".
I remember reading long op-ed pieces in pop news sources of how it might work. Some respected science writers stuck their necks out to pen those articles.
Cold fusion came to dominate the agenda of the normally staid Electrochemical Society's biannual conference. The halls were packed with attendees. Many from the news media paid (probably, their employers paid) the high non-member registration fees to attend and listen to the mumbo-jumbo doublespeak talks.
Back at the job, and also the department at school, the Old Farts were skeptical. A few of the younger ones, including me, were hopeful that "this time it really is different", and if cold fusion really was a reality, a good "stick it to the man" phenomenon.
We know what happened after that. Cold Fusion was a head-fake. The "discoverers" of it, Professors Fleischmann and Pons, were True Believers. But what they "discovered" was a result of lack of rigorous attention to detail in their experiment protocols. Many, especially those who were not grounded in the field, had drunk the Cool-Aid.
You don't get it, you Old Fart: It's Different This Time.
125
Patrick
2021 Mar 11, 8:42am
Patrick
2021 Mar 11, 8:42am
A spam text I got today:
It says:
Nice of Elon to have such concern for me.
It says:
How one earns cash with BITCOIN!
Join us and begin to become rich with Bitcoin!
Nice of Elon to have such concern for me.
126
Bitcoin
2021 Mar 11, 9:14am
Bitcoin
2021 Mar 11, 9:14am
they need a better translator.
It should say "Wie Mann mit Bitcoin Cash verdient"
and "Begleiten Sie uns und beginnen Sie mit dem Bitcoin Code reich zu werden!"
It should say "Wie Mann mit Bitcoin Cash verdient"
and "Begleiten Sie uns und beginnen Sie mit dem Bitcoin Code reich zu werden!"
127
WookieMan
2021 Mar 11, 9:16am
WookieMan
2021 Mar 11, 9:16am
Patrick says
He doesn't. I like and hate the guy. I literally think his life goal is to get the fuck off this planet which has been great for space exploration or at least rocket tech. He's probably printed close to $200-300M at this point with no effort though. He's almost certainly selling at a methodical pace while the the hype is buying his coin he's selling. Once you get over the peak of the mountain though, gravity still exists and this car has no brakes.
He's not like Hoffman in Rainman where it's obvious he's off. But something is off with the dude if you've ever watched long interviews or podcasts. He's not normal, yet he's brilliant.
Ultimately he likely pumped BTC by saying TSLA would set aside $1.5B for it and then bought a couple hundred million to test the market. The morons flowed in because it was Musk and the rest will be history. He'll walk out of the BTC door with hundreds of millions of OPM if he hasn't already. It's his mantra. That's what TSLA is. I genuinely believe it's all for his space exploration dreams. He creates companies, extracts money for himself and puts it into SpaceX. BTC is just another way to extract money from people.
Nice of Elon to have such concern for me.
He doesn't. I like and hate the guy. I literally think his life goal is to get the fuck off this planet which has been great for space exploration or at least rocket tech. He's probably printed close to $200-300M at this point with no effort though. He's almost certainly selling at a methodical pace while the the hype is buying his coin he's selling. Once you get over the peak of the mountain though, gravity still exists and this car has no brakes.
He's not like Hoffman in Rainman where it's obvious he's off. But something is off with the dude if you've ever watched long interviews or podcasts. He's not normal, yet he's brilliant.
Ultimately he likely pumped BTC by saying TSLA would set aside $1.5B for it and then bought a couple hundred million to test the market. The morons flowed in because it was Musk and the rest will be history. He'll walk out of the BTC door with hundreds of millions of OPM if he hasn't already. It's his mantra. That's what TSLA is. I genuinely believe it's all for his space exploration dreams. He creates companies, extracts money for himself and puts it into SpaceX. BTC is just another way to extract money from people.
129
Bitcoin
2021 Mar 11, 9:20am
Bitcoin
2021 Mar 11, 9:20am
WookieMan says
Patrick saysThat was sarcasm, @WookieManNice of Elon to have such concern for me.
He doesn't
130
Bitcoin
2021 Mar 11, 9:36am
Bitcoin
2021 Mar 11, 9:36am
WookieMan says
I would like to ask you to stay on topic (Bitcoin) and move your comments about your feelings for other males into another thread. Thank you!
I like and hate the guy.@WookieMan,
I would like to ask you to stay on topic (Bitcoin) and move your comments about your feelings for other males into another thread. Thank you!
131
WookieMan
2021 Mar 11, 11:21am
WookieMan
2021 Mar 11, 11:21am
G36 says
Lol. You make me laugh every day. Thanks.
WookieMan saysPatrick saysThat was sarcasmNice of Elon to have such concern for me.
He doesn't
Lol. You make me laugh every day. Thanks.
132
WookieMan
2021 Mar 11, 11:25am
WookieMan
2021 Mar 11, 11:25am
G36 says
Not your topic. And it doesn't matter anyway, ignore works just fine chief. The OP believes BTC is bull shit, rightly so, and I commented on how Musk is pumping BTC. Furthering the fact that BTC is shit, as the OP states basically. Reading is a real thing. And you won't have a response to what I just posted. You'll post a graph and say Tesla. Maybe have an original thought and people would take you seriously.
You've got 10 ignores right now. That speaks volumes considering when you "joined" the forum..... for the 10th time....
I would like to ask you to stay on topic (Bitcoin) and move your comments about your feelings for other males into another thread.
Not your topic. And it doesn't matter anyway, ignore works just fine chief. The OP believes BTC is bull shit, rightly so, and I commented on how Musk is pumping BTC. Furthering the fact that BTC is shit, as the OP states basically. Reading is a real thing. And you won't have a response to what I just posted. You'll post a graph and say Tesla. Maybe have an original thought and people would take you seriously.
You've got 10 ignores right now. That speaks volumes considering when you "joined" the forum..... for the 10th time....
133
Bitcoin
2021 Mar 11, 12:35pm
Bitcoin
2021 Mar 11, 12:35pm
WookieMan says
I am glad to hear :) You dont get sarcasm but at least you can laugh :)
G36 saysWookieMan saysPatrick saysThat was sarcasmNice of Elon to have such concern for me.
He doesn't
Lol. You make me laugh every day. Thanks.
I am glad to hear :) You dont get sarcasm but at least you can laugh :)
134
Bitcoin
2021 Mar 11, 12:38pm
Bitcoin
2021 Mar 11, 12:38pm
WookieMan says
I love Bitcoin topics, educating folks about the Bitcoin network is a passion of mine. But if you could just move your other stuff (discussing users Vs topic, your feelings for other men) into another thread, I'd appreciate it!
G36 saysI would like to ask you to stay on topic (Bitcoin) and move your comments about your feelings for other males into another thread.
Not your topic.
I love Bitcoin topics, educating folks about the Bitcoin network is a passion of mine. But if you could just move your other stuff (discussing users Vs topic, your feelings for other men) into another thread, I'd appreciate it!
135
Patrick
2021 Mar 11, 12:58pm
Patrick
2021 Mar 11, 12:58pm
G36 says
Maybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
They say native speakers immediately know which gender every noun should have. I never got a feel for that.
mit dem Bitcoin Code
Maybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
They say native speakers immediately know which gender every noun should have. I never got a feel for that.
136
Bitcoin
2021 Mar 11, 1:04pm
Bitcoin
2021 Mar 11, 1:04pm
Patrick says
it would be, if its feminine, which its not. I know its masculine in german.
regardless, the scammer said "mit die Bitcoin Code" which is wrong in any case.
G36 saysmit dem Bitcoin Code
Maybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
it would be, if its feminine, which its not. I know its masculine in german.
regardless, the scammer said "mit die Bitcoin Code" which is wrong in any case.
137
Onvacation
2021 Mar 11, 1:10pm
Onvacation
2021 Mar 11, 1:10pm
Patrick says
Bitcoin is a bitch.
Maybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
Bitcoin is a bitch.
138
Bitcoin
2021 Mar 11, 1:21pm
Bitcoin
2021 Mar 11, 1:21pm
Onvacation says
oh she is! you cant get rid off her. She's resilient. They said she's dead 1000x times....and now look at her....looking beautiful at 56!
Patrick saysMaybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
Bitcoin is a bitch.
oh she is! you cant get rid off her. She's resilient. They said she's dead 1000x times....and now look at her....looking beautiful at 56!
139
Onvacation
2021 Mar 11, 1:22pm
Onvacation
2021 Mar 11, 1:22pm
G36 says
Finally! We agree on something!
Onvacation saysPatrick saysMaybe Bitcoin Code is feminine, in which case it would be "mit der Bitcoin Code".
Bitcoin is a bitch.
oh she is!
Finally! We agree on something!
140
Bitcoin
2021 Mar 11, 1:23pm
Bitcoin
2021 Mar 11, 1:23pm
G36 says
Apologies....she's 57! moving quickly that bitch :D
oh she is! you cant get rid off her. She's resilient. They said she's dead 1000x times....and now look at her....looking beautiful at 56!
Apologies....she's 57! moving quickly that bitch :D
141
WookieMan
2021 Mar 11, 1:23pm
WookieMan
2021 Mar 11, 1:23pm
G36 says
You literally don't get the comment. You do realize it's possible to have a conversation off of patnet, right? You didn't get my math "sarcasm" comment or anything else.
And now you go personal as usual. Grow up.
I am glad to hear :) You dont get sarcasm but at least you can laugh
You literally don't get the comment. You do realize it's possible to have a conversation off of patnet, right? You didn't get my math "sarcasm" comment or anything else.
And now you go personal as usual. Grow up.
142
Onvacation
2021 Mar 11, 1:24pm
Onvacation
2021 Mar 11, 1:24pm
G36 says
That's what bitches do. They're volatile.
Apologies....she's 57! moving quickly that bitch :D
That's what bitches do. They're volatile.
143
Bitcoin
2021 Mar 11, 1:24pm
Bitcoin
2021 Mar 11, 1:24pm
WookieMan says
must have hit the nail here.
G36 saysI am glad to hear :) You dont get sarcasm but at least you can laugh
must have hit the nail here.
144
Bitcoin
2021 Mar 11, 1:27pm
Bitcoin
2021 Mar 11, 1:27pm
Onvacation says
oh yes, in a parabolic way, look at her move:
G36 saysApologies....she's 57! moving quickly that bitch :D
That's what bitches do. They're volatile.
oh yes, in a parabolic way, look at her move:
145
WookieMan
2021 Mar 11, 1:30pm
WookieMan
2021 Mar 11, 1:30pm
G36 says
Learn to quote....
WookieMan saysG36 saysI am glad to hear :) You dont get sarcasm but at least you can laugh
must have hit the nail here.
Learn to quote....
146
Bitcoin
2021 Mar 11, 1:32pm
Bitcoin
2021 Mar 11, 1:32pm
WookieMan says
wow, these wookie attack lines. "grow up" "learn to quote"
vicious baby
G36 saysWookieMan saysG36 saysI am glad to hear :) You dont get sarcasm but at least you can laugh
must have hit the nail here.
Learn to quote....
wow, these wookie attack lines. "grow up" "learn to quote"
vicious baby
147
WookieMan
2021 Mar 11, 1:38pm
WookieMan
2021 Mar 11, 1:38pm
G36 says
Not really. Learn to use the quote function. Seriously. I know you don't know what BTC even is, but at least learn to highlight text correctly to quote on the site. Makes reading easier even though I know you like to use pictures because you have no independent thoughts.
wow, these wookie attack lines. "grow up" "learn to quote"
vicious baby
Not really. Learn to use the quote function. Seriously. I know you don't know what BTC even is, but at least learn to highlight text correctly to quote on the site. Makes reading easier even though I know you like to use pictures because you have no independent thoughts.
148
Bitcoin
2021 Mar 11, 1:48pm
Bitcoin
2021 Mar 11, 1:48pm
WookieMan says
give yourself more credit. These are vicious, vicious attack lines....
"grow up" "learn to quote"
Man, i am shaking
G36 sayswow, these wookie attack lines. "grow up" "learn to quote"
vicious baby
Not really.
give yourself more credit. These are vicious, vicious attack lines....
"grow up" "learn to quote"
Man, i am shaking
151
WookieMan
2021 Mar 11, 1:58pm
WookieMan
2021 Mar 11, 1:58pm
G36 says
Now editing your own comments? I quoted it. I don't edit quotes unless they're my own or I use the strikethrough tag. I'm sure Patrick has logs of each comment. You're a top 3 liar I've ever seen on this site and that's saying something. Learn spell. We know reading isn't really working for you already.
pls dont edit quotes. thats illegal :D
Now editing your own comments? I quoted it. I don't edit quotes unless they're my own or I use the strikethrough tag. I'm sure Patrick has logs of each comment. You're a top 3 liar I've ever seen on this site and that's saying something. Learn spell. We know reading isn't really working for you already.
152
Onvacation
2021 Mar 11, 2:26pm
Onvacation
2021 Mar 11, 2:26pm
G36 says
Asymptotes are theoretical. In the real world you have gravity and friction.
You never did answer the question, any questions. But I will try again.
How is bitcoin valuable beyond what the next greatest fool will pay for it?
Since you never answer, I will for you. Crypto is an excellent way for criminals to transfer money. It is used in ransomware, drug dealing, and human trafficking. If it wasn't for the rubes who HODL thinking that one day their "bits on a stick" will make them incredibly wealthy the system would not work. If you speculate in crypto you support criminals.
Not a lot of use for crypto beyond allowing criminals to transfer money. Rebuttals?
oh yes, in a parabolic way, look at her move:
Asymptotes are theoretical. In the real world you have gravity and friction.
You never did answer the question, any questions. But I will try again.
How is bitcoin valuable beyond what the next greatest fool will pay for it?
Since you never answer, I will for you. Crypto is an excellent way for criminals to transfer money. It is used in ransomware, drug dealing, and human trafficking. If it wasn't for the rubes who HODL thinking that one day their "bits on a stick" will make them incredibly wealthy the system would not work. If you speculate in crypto you support criminals.
Not a lot of use for crypto beyond allowing criminals to transfer money. Rebuttals?
153
Bitcoin
2021 Mar 11, 2:49pm
Bitcoin
2021 Mar 11, 2:49pm
i have answered it many times with this chart:
You on the other hand cant dispute the chart. Thats why you ignore it. Have you found any evidence that a Bitcoin can be counterfeited?
Nope.....but you can fake FIAT and Gold.
You on the other hand cant dispute the chart. Thats why you ignore it. Have you found any evidence that a Bitcoin can be counterfeited?
Nope.....but you can fake FIAT and Gold.
154
Onvacation
2021 Mar 11, 2:57pm
Onvacation
2021 Mar 11, 2:57pm
G36 says
Do you have evidence that your bits on a stick are actually connected to anything real?
And that chart is ridiculous. Can't you come up with something better?
Never mind.
Bitcoin is for criminals and fools. What's in your flash drive?
Have you found any evidence that a Bitcoin can be counterfeited?
Do you have evidence that your bits on a stick are actually connected to anything real?
And that chart is ridiculous. Can't you come up with something better?
Never mind.
Bitcoin is for criminals and fools. What's in your flash drive?
155
Bitcoin
2021 Mar 11, 3:00pm
Bitcoin
2021 Mar 11, 3:00pm
See, you cant prove that the chart is wrong. You cant even produce a single link that shows Bitcoin can be counterfeited. You are quick to change the subject and you dont like the chart because you cant dispute it with facts.
Again: Have you found any evidence that a Bitcoin can be counterfeited?
Again: Have you found any evidence that a Bitcoin can be counterfeited?
156
Bitcoin
2021 Mar 11, 3:01pm
Bitcoin
2021 Mar 11, 3:01pm
heck, there are website that argue the world is flat.....and you are telling me there isnt a single website that claims Bitcoin can be double spent / Counterfeited?
I'll wait :)
I'll wait :)
157
WookieMan
2021 Mar 11, 4:23pm
WookieMan
2021 Mar 11, 4:23pm
Smart: No, see below.
Secure: No, see below.
Durable: No, hardware can go bad.
https://www.investopedia.com/terms/1/51-attack.asp
Where is the row in that sheet for value or that it's even an asset? Please answer that. The chart answers nothing and is pure propaganda.
Secure: No, see below.
Durable: No, hardware can go bad.
https://www.investopedia.com/terms/1/51-attack.asp
Where is the row in that sheet for value or that it's even an asset? Please answer that. The chart answers nothing and is pure propaganda.
« First « Previous Comments 118 - 157 of 191 Next » Last » Search these comments
Let’s spell out the more blatant shortcomings of Bitcoin: The blockchain may be theoretically bomb-proof, but the exchanges that Bitcoin trades on can be fiddled, hijacked, and erased from the universe, and Bitcoins with them. Remember Mt. Gox? When it went tits-up in 2014, 850,000 Bitcoins vanished (out of the 21 million that can ever be “mined” under the system as designed). Bitcoins were worth under $1000 when that happened. Also, keep in mind is that Bitcoin is meaningless without reliable electric service and the Internet that runs on it. How many Bitcoins were bought-and-sold in Texas those dark days a couple of weeks ago when a blue norther rolled in and the lights went out. Of course, trading Bitcoin might be the least of your problems when the pipes freeze and all the sheetrock in your house gets prepped for a black mold experiment.