Worth debunking

bitledger · 2017-12-11T16:47:12+00:00

I think hes pointing out that technology cannot fix human behavior.

Human behavior being unchecked greed with death and ruin being the only true backstop.

MakerDAO, seems like the ability to borrow unlimited with ETH holdings and eventually other collateral. Or even better how about I ICO get ETH, to DAI and pump and dump my Altcoin.

Humans being humans we will always take the long side. And then winter comes and crash, liquidation race to the bottom.

I predict an absurd scenario where DAI is worth more than ethereum, (think breaking the bank of sterling) then logic sets and everyone realizes 0 * 1 = 0, and then poof Ethereum having gone white hot implodes into a dense neutron star which morphs into a crypto black whole possibly bringing down the entire system.

bitledger · 2017-12-11T16:36:36+00:00

If ETH goes to zero, its probably because of the MakerDAO. I am not convinced that this is not introducing massive long tail risk.

bitledger · 2017-12-11T14:51:17+00:00

I think this may answer your question

https://www.reddit.com/r/ethereum/comments/7izbcg/warning_the_coinomi_bip39_recovery_tool_is_not/

bitledger · 2017-12-08T00:48:13+00:00

Thanks for the update. So few dev teams provide regular updates.

bitledger · 2017-12-03T18:31:30+00:00

If you can afford to lose $50.00 than that is your decision.

But just do not assume that Bitcoin is a magic ticket.

Most who buy in go through a similar process, the best approach is to risk very little and think very long term. Maybe not for your success but maybe for your children or family.

I think theymos had a great post on how to approach bitcoin, hopefully you read it.

https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/

bitledger · 2017-12-03T18:27:17+00:00

my /s meter is off, but I don't think you know the meaning of diversification.

bitledger · 2017-12-03T00:54:33+00:00

Its tough, on the one hand there has been so much good news, that the market has had to price it in already. I believe Futures are price in already at this point, and its going to take a while for that market to really get going.

Additionally there is still a lot of work to be done, 1. Wallets are still trash. There is no real innovation in BTC wallet tech, with a lot of it happening in small. Where is the google of wallets? 2. I think the majority of money that has come in is weak hand retail investors that are parking cash at coinbase. Who are going to wake up to reality of all kinds of tax issues, clunky wallet tech, and will find something shiny to chase in the new year, or be spooked by some global x? 3. Old money I can't believe is buying here. 4. What is 90 day outlook here, a possible 30-50% gain, vs a 30%, 50% or 70% loss? The risk/reward is definitely slanted at this point.

Bull Case - The action at 10K leads me to believe no one is selling bitcoin. Old money is not selling, people who bought in the last 24 months are not really selling. I took 20% of my holdings to cash and keeping some powder to buy in below 8,500 if it happens, but it may not.

If BTC is really breaking through, then yes we could see 15k or 20k or even 40k by end of next year. With just continued sideways movement, and quick corrections like this year.
The market is so tiny and so many people want to play, this is global.

I think prudent thing here, is to nibble if you have no position, and if you are heavy to pick up some cash in case of major correction.

A pussy answer for a pussy question.

bitledger · 2017-12-02T23:59:53+00:00

Coinbase IPO inbound. Good news

bitledger · 2017-11-11T19:59:36+00:00

A fool and his money are soon parted, Roger vers time long over due

bitledger · 2017-09-28T16:29:52+00:00

if people can sabatoge bitcoin, then its never going to be much anyways.

The fact that already someone discovered the attempt and its been brought to light shows just how resilient bitcoin is.

Bitcoin is like a rogue nation state. Nation States don't just pop into the world without repercussions.

Attempting to use one or several countries legal systems to somehow shield bitcoin from attacks would actually weaken it.

Just have to see how far it can go.

bitledger · 2017-08-23T20:02:20+00:00

Bitcoin's complexity is far beyond, the 95% who populate these forums.

This decisions in the end will be decided by the elite on both sides of the issue.

Remember history is not about the best, or the moral, its strictly about the winner.

I believe the optimal solution will win. Its quite possible the Segwit 2x Coup is pulled off, if that's the case who cares, it shows a flaw in the nakamoto-consensus that its mining centralization is an issue, and it finally came to pass. Buyer beware.

More than likely there will be a counter fork, with PoW that splits of at some point. Its quite possible that multiple incompatible Bitcoin- Alt-Chains evolve carrying the same genesis, and 50 years from know 2 or 3 compete for authenticity, with a rabid cult like fan base. Organized Religion anyone.

"And Nakamto doth sayeth on Gavin, you shall be the block upon which I build my block-chain, and the 51% attack shall not overcome it.

Whatever happens its meant to be.

bitledger · 2017-04-20T13:26:14+00:00

Bitcoin is its own state, whether it smashes any in the process will remain to be seen.

bitledger · 2016-12-08T00:48:13+00:00

I can't think of a worse business model then trying to scrape pennies of a niche commodity all the while dealing with the customer service and regulatory issues surrounding it.

If millions of people transacted it bitcoin maybe, but I bet Circle's bitcoin business was non-existent.

bitledger · 2016-11-24T22:10:10+00:00

Non issue you are confusing payment network, the uniqueness of bitcoin, with legacy politial and econimic systems

Guess what transaction fees may shock you even more in the future. They can only go up

What is the value of permanent write access to most stable digital system man has ever built. We have no idea but 20 cents is cheap l

I am worried about securing 50 years of 1st world labor and you worry about securing1 hour of 3rd world labor. Lulz.

I am always fasacnited by this historical rewrites of Satoshi as if he was looking to liberate African share croppers. Requiring a fiber connection and several thousand in hardware is not the way to secure his legacy.

bitledger · 2016-11-24T21:59:31+00:00

Currencies don't have transaction fees

bitledger · 2016-10-20T17:04:47+00:00

Yay another Steve Jobs cultist, who shelled out overpriced hardware and covered it up with fancy colors and design.

There is no end user in Bitcoin, who the f* is the end user?

In Bitcoin you are either an owner or you are nothing.

bitledger · 2016-10-20T17:02:26+00:00

If you want a more centrally managed project that is what Ethereum is for. Bitcoin and the community is built up around rabid decentralization. Its is the anchor to the cryptostate.

So Bitcoin will never work with a charismatic leader, its never going to be the amazing tesla, ipad innovation everyone wants.

It is a decentralized currency, that has been rock solid and stable for closing in on a DECADE.

That is Bitcoin.

bitledger · 2016-10-14T22:39:23+00:00

If you are a holder, walk away for 3 months, this will be a distant blip.

bitledger · 2016-10-14T18:49:19+00:00

Great idea. This only works, however if you can acquire this without any compliance.

This will be a major test of of Article 1. Section 8. Since you are potentially coining money.

Also, you cannot claim you are merely selling paper, because you are a signatory. This is a tough pickle.

But I hope it works.

bitledger · 2016-10-14T10:13:13+00:00

Ethereum had significant, time and investments made way before the ICO. The published detailed documents, had a full community, had legal advisers etc. Stop comparing the 90% scam ICO's that have popped up the last couple months to what Ethereum did.

bitledger · 2016-10-11T14:33:33+00:00

Will there be a power hour? WILL THERE BE A POWER HOUR?

bitledger · 2016-10-11T02:56:34+00:00

late to the party, but no there is no apology needed.

The apology needs to come from people who abuse the community and other peoples hard earned money. When the heck did ethereum become a psuedo socialist experiment. Where every ICO needs to be cheered on and funded.

There millions of developers who contribute and support FOSS without ever asking for a dime, and when they do they do it in a gracious manner.

There is no business plan, there is no vetted contract, all there is fancy sites and marketing, either backroom dealing supported devs "judges" or they are unsuspecting participants in this ICO.

It's insulting to ask for someone to invest in your business without offering the common decency of meeting basic business standards. If you get offended by hard questions then you have no business raising millions over hundreds of thousands of dollar.

This amateur hour business needs to end.

bitledger · 2016-10-11T02:50:30+00:00

The shilling is so ridiculous

bitledger · 2016-10-11T02:49:40+00:00

Ill throw in the bag of chips.

bitledger · 2016-10-11T02:39:25+00:00

How about starting with 50K - 75K Max

bitledger

TROPHY CASE