completely comical you guys debating/worrying about the security of a network that has had 99.999% UpTime throughout the entirety of its nearly 10 year existence. If security was ever going to be a concern...it would've been last bear market when downside potential literally was damn near 0$.

?

When block rewards decrease, security must be paid by fees. It's uncertain if this will work or not. What's comical about that.

Why do these coiners all think the govt is out to shut down Bitcoin. It’s a nerd toy, no one in the govt really gives a rip.

Assuming you're not being facetious, I'm sure many of us were around to get ****ed by the UIGEA. That directly assaulted and damaged the global online poker market. It was a set of banking regulations.

BTC, crypto, etc are all definitely on the gov't radar. Black Friday happened specifically because Full Tilt and PokerStars became too big to not notice (the money moving around). And the gov't will do whatever the **** it wants to do, as usual. In my limited knowledge of crypto, they can't stop BTC et al just like they can't stop online poker in America, but they damn sure have other avenues to choke its viability off. Remember, online poker took a heavy blow from banking regulations, not some gambling edict.

Like what? I know that seems like a silly question to ask bc I'm asking you to tell me the unforeseen, but your post implies you know something everyone else doesn't, so I ask the question in that sense.

The pokersites were laundering billions of dollars through a US bank. Tether is pretty much the only thing that could blow up like that in Crypto.

Its kind of a moot point though. If the government wanted to reck the whole space, they could make everyone's life a living hell at the least, and probably figure out a way to 51% the network at the worst. Targeting giant miner farms probably wouldn't be too hard.

lol

They think Sheldon Adelson has a brother who hates bitcoin or something?

Its going to be a slow multi-year exit from the space without much money coming in and most people who exit wont be coming back. Id expect btc to be under 500 by end of next year. I cant see any reason for a rise back up

eventually you have a debt crisis somewhere and everyone is like "OMG I should buy bitcoin! I am such a genius" at the same time and the price quickly skyrockets before eventually crashing down again.

Can't imagine how happy bitcoin bulls are that it is almost under $3,000. Licking their lips probably at the chance to trade more worthless fiat for crypto.

You're joking, but yes I've been buying. Guess we'll see if that's a good decision.

Illegal economy bottoming out the price + volatility + ponzi clowns who go "oh look, it's going up!! can't miss out!"

Ok, data centers were a bad idea but still you can run protein folding learning algorithms or a fuzzer to find bugs in big important open source projects or any other computation which has some real world benefits.

This is so delusional. All they need to do is announce that Bitcoin is illegal. It will instantly wipe out all exchanges, youtubers, pump-and-dumpers on Twitter and most of the miners. They could prosecute someone just for show so anyone who ever does business close USA or any country with extradition treaty to USA will avoid anything remotely connected to crypto space. The only reason BTC is functioning is that US government decided to let it.

They stopped 99%+ of online poker happening in America (provided by offshore companies which was the point). Chasing after remaining 1% is just not worth it. The same thing can happen with crypto if anyone cares enough.

we can also take all the computational power being burned so that kids can sit on their fat asses playing fortnite do do all of the stuff you just listed as an argument against BTC mining

More like jealous nofiaters who can't stand the fact fiat's value has grown to nearly 10x what it was last year!!!

To the moon

Juk

Maybe, but I don't see even a single major politician calling for a prohibition on crypto. It's certainly not a given that Uncle Sam is going to spend enormous resources on some nerds flinging tokens back and forth.

Down 76% year-to-date. This may not be the best time to be making sarcastic comments about the US dollar.

We nearly got an interesting discussion going between Tooth and Pete for a moment there.

Moonboys and trenchbears (what's the polar opposite of a moonboy?) are mostly noise, yelling past each other.

Pragmatist

31k posts. Congratulations to everyone in this thread for participating in The Phenomenon

in 40 years, after paper cash has been eliminated, every transaction is monitored, and the government has access to everyone's bank account and deducts your income tax automatically, hopefully we will look back at our toy money and have a chuckle.

Second lifers who own in-game real estate and money:

How is your statement any different to the Second Life loser above? In fact I'd argue that Second Life in-game currency is more likely to become a global currency than Bitcoin in 15 years.

Augie, this is your opportunity to buy at a discount so in the next bull cycle you aren't the old man yelling at the clouds YET AGAIN

I’m neither a bull or bear

It’s had three separate cycles where it has exploded then got rocked by 80-90%

Why not a fourth? What were the reasons for the first 3 explosions?

Even if it’s a pig it can easily be hyped or manipulated again, right?

thousands of video cards strung together in a giant chinese warehouse

the currency of the future!