Cryptocurrency

[vadhert]

[Drei]

Neither is bitcoin/blockchain/cryptocurrency...

Can you please tell me who the Bitcoin founder is? The actual person? No one knows, it is all a grand mystery That guy group of people are probably sitting on 5 million BTCs, I bet they keep cashing in every now and then enjoying that Pozni.


Any start-up company has a service or a produce, it produces something. Bitcoin produces nothing but heat through electricity and computing power, another factor adding to global warming without any by-product whatsoever.

[northernladuk]

Can you please tell me who the Bitcoin founder is? The actual person? No one knows, it is all a grand mystery .

I know but you won't believe me if I tell you.

[Lance]

Can you please tell me who the Bitcoin founder is? The actual person? No one knows,

Incorrect. Someone knows.
/pedant

EDIT: Oh and if they were cashing out it would be visible in the blockchain.

[northernladyuk]

I'm far from a bitcoin devotee... There is a middle ground between "it's a ponzi scheme" and "It'll replace FIAT currency/banks/the illuminati".

Blockchain clearly has plenty of uses. I kind of see bitcoin/crypto more as a replacement for banks than a replacement for FIAT currency. You pay money into a bank, you put a lot of trust in that bank to keep an accurate ledger of what is in your account.

Plenty of examples of banks losing peoples money. Blockchain removes the trusted 3rd party from the equation.

I didn't say bitcoin was a ponzi . It's a speculative bubble. That's the middle ground.

[Drei]

Thing that is pissing me off is that when if it crashes because people may realised the 0 value, it will actually affect the people that did not buy into it. If the late investors get screwed massively and lose billions... that's how the recession starts no?

[Lance]

Thing that is pissing me off is that when if it crashes because people may realised the 0 value, it will actually affect the people that did not buy into it. If the late investors get screwed massively and lose billions... that's how the recession starts no?

How exactly can it affect those that haven't invested?

As for recession..... What have you been smoking? The total BTC market value is $48bn give or take a few billion.
That's small change in terms of recession causing crashes.

[northernladyuk]

I know but you won't believe me if I tell you.

She who must not be named?

[Drei]

Decentralisation is kind of the point and what makes it work in the first place.. perhaps you need to do more research.

The fact is that it's currently decentralised and it currently works as intended so what point are you trying to make.

Again you are not telling me anything new nor are you answering my question. How will blockchain work when no one in the world volunteers their devices to actually calculate all those transactions?

A guy I work with has a start-up company based on blockchain however they had to rent the server power from a provider, thus making it centralised in that country. The other alternative would be to hire a rack in every datacentre in the world in every country. Advantage being that not one country would have jurisdiction to get to the data compared to have in one country where the local law enforcement agency could gain access to it. Does your business have something to hide?

[northernladuk]

She who must not be named?

It's Darren_Test. He was stood in the pissing rain one day trying to push a soggy envelope with £2 in 10p's falling out of it through a letter box and thought 'wouldn't it be good if there was a currency that was only on the Internet so it wouldn't get wet in the rain' And hence it was born.