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My crypto journey so far

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rodo555
The question was about sending money to your girlfriend and why bother converting into crypto, to do so?

Once again I take profit on trades convert use with Revolut fast and cheap

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kramer_456
43 minutes ago, asmodeus said:

The guru, perhaps the greatest investor ever has a clear view

 

 

But he's comparing bitcoin and crypto to an investment like shares. Crypto is not an investment. Its a type of technology. Sure some people are using it like an investment or a store of value. But that's not what it really is and that's not where its going to make the biggest impact.

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how122255
9 hours ago, rodo555 said:

User case 1 having been ripped off for years by banks when sending money to Thailand I now send crypto from my Revolut bank to girlfriends Revolut card she can the use ATM or bank counter to withdraw takes a few seconds rather than 4/5 days with Hsbc

Pattaya beer bar takes crypto and actually everyone excepts my crypto paid in to Revolut bank and then converted to pay said bill

In a year's time,  the acceptance of cypro  and the uses will have grown 10 fold, in my opinion.

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rodo555
12 hours ago, how122255 said:

In a year's time,  the acceptance of cypro  and the uses will have grown 10 fold, in my opinion.

I really think its early days as yet but its going to explode

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Biennial
22 hours ago, taylor1975 said:

As revolut do normal fiat currency transfers, why add in an extra layer and use crypto? .....seems unnecessary and i would have thought extra fees??

I see a lot of mixed reviews on Revolut here: https://www.trustpilot.com/review/www.revolut.com

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supergeil
On 6/2/2018 at 18:07, kramer_456 said:

Ok. So for me to provide a detailed review of why I think Crypto is a game changer would probably take me 10,000 words of detailed analysis and explaination. I couldn't be fucked really. But you geniuses are giving us half a sentance about why its all a scam.

I'll do you a deal. How about you give us 1000 words in detail about why Crypto will never work and its a complete fraud. Then I'll be happy to address each and every point you make.

Not really a fraud, and digital money will work, it already does.

Crypto based on the blockchain though have many problems:

Proof of work: As there is no central authority, anyone can append to the ledger if they prove they have done a certain amount of work. The problem here is that the cost of this work must be more expensive than the value being protected. E.g. if I can rent CPU cycles cheaper than what I could “steal” by controlling the ledger, the network has a fatal flaw. This was recently exploited with Bitcoin Gold where someone did have more CPU than the rest of the network and was able to double-spend (thus steal) coins with an estimated value of 18 million USD.

But this issue is actually double-sided, because let us say the attacker of bitcoin would have had to spend more than $18 million on their attack, so it would not have been worth it, but then that effectively means that it costs more than $18 million to run the network. In this case, I think the attack took around an hour, so if it costs more than $18 million to run the network for an hour, it means that the transaction costs per hour are more than $18 million. Do you see the problem? Who should finance that? Right now it is financed through inflation by issuing block rewards to the miners, but that is not sustainable, so eventually it should be financed by transaction fees, but transaction fees should be less than 100% of the amount transferred, so we are back to the original problem, that the cost of running the network is cheaper than the value transferred, and thus susceptible to attacks.

Scalability: The only way to run a decentralized ledger in a no-trust environment is to have everybody keep a copy of the ledger. That means every transaction needs to be broadcast to everyone, which doesn’t scale. This is why there are currently severe limits on how many transactions are processed per second (for bitcoin I think it’s 4-7), because if you increase to VISA/MasterCard volumes, you just can’t get the ledger distributed to everyone, nor would everyone be able to store a copy (as it would grow too big).

Consensus: Because it is a distributed ledger, many miners append to it, this causes forks, so there are actually many different ledgers, miners should always pick the “longest” ledger and append to that, but the ledger that is currently the longest may not stay the longest. In general, if a ledger has stayed the longest for 40-50 minutes, statistically (for bitcoin) it is highly unlikely that it won’t keep being the longest, but that is just until there is a majority attack (like bitcoin gold), and having to wait 40-50 minutes before you have confidence in a transaction having gone through severely limits the usefulness, and even after 40-50 minutes you still can’t declare 100% confidence.

I know this was only 500 words, but I hope you’ll still give you rebuttal to the above points and tell us how crypto currencies are a game changer :)

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kramer_456
15 hours ago, supergeil said:

Not really a fraud, and digital money will work, it already does.

Crypto based on the blockchain though have many problems:

Proof of work: As there is no central authority, anyone can append to the ledger if they prove they have done a certain amount of work. The problem here is that the cost of this work must be more expensive than the value being protected. E.g. if I can rent CPU cycles cheaper than what I could “steal” by controlling the ledger, the network has a fatal flaw. This was recently exploited with Bitcoin Gold where someone did have more CPU than the rest of the network and was able to double-spend (thus steal) coins with an estimated value of 18 million USD.

But this issue is actually double-sided, because let us say the attacker of bitcoin would have had to spend more than $18 million on their attack, so it would not have been worth it, but then that effectively means that it costs more than $18 million to run the network. In this case, I think the attack took around an hour, so if it costs more than $18 million to run the network for an hour, it means that the transaction costs per hour are more than $18 million. Do you see the problem? Who should finance that? Right now it is financed through inflation by issuing block rewards to the miners, but that is not sustainable, so eventually it should be financed by transaction fees, but transaction fees should be less than 100% of the amount transferred, so we are back to the original problem, that the cost of running the network is cheaper than the value transferred, and thus susceptible to attacks.

Scalability: The only way to run a decentralized ledger in a no-trust environment is to have everybody keep a copy of the ledger. That means every transaction needs to be broadcast to everyone, which doesn’t scale. This is why there are currently severe limits on how many transactions are processed per second (for bitcoin I think it’s 4-7), because if you increase to VISA/MasterCard volumes, you just can’t get the ledger distributed to everyone, nor would everyone be able to store a copy (as it would grow too big).

Consensus: Because it is a distributed ledger, many miners append to it, this causes forks, so there are actually many different ledgers, miners should always pick the “longest” ledger and append to that, but the ledger that is currently the longest may not stay the longest. In general, if a ledger has stayed the longest for 40-50 minutes, statistically (for bitcoin) it is highly unlikely that it won’t keep being the longest, but that is just until there is a majority attack (like bitcoin gold), and having to wait 40-50 minutes before you have confidence in a transaction having gone through severely limits the usefulness, and even after 40-50 minutes you still can’t declare 100% confidence.

I know this was only 500 words, but I hope you’ll still give you rebuttal to the above points and tell us how crypto currencies are a game changer :)

Firstly its good to see someone who is actually looking at the underlying tech rather than just sprouting one liners based on something they might have seen on TV or in the news.

I never said there weren't issues with blockchain or crypto. There are many technical as well as people related issues with it.

All the issues you mention are well know and a simple search on any of them will bring up 1000's of articles and forum posts with people discussing them and also discussing various solutions.

Although I don't understand your point about the cost of a 51% attack needing to be greater than the amount you steal (pretty obvious) and then connecting that with the transactions fees for running the network being greater than the value of the transaction. Its pretty obvious that the current cost of transaction fees on the network is way less than the value of most transactions. I transferred $5,000 AUD worth of ETH the other day and it cost me 10c AUD. The overall cost of mounting a 51% attack is a way different thing. As first of all you need all those computers, then the power to run them for a period of time etc. Two totally different things in my understanding.

Crypto is very much in its infancy. A lot of these technical issues are not that different to the types of issues that the internet and many other tech game changes have had down through the years. They tend to get solved and all of a sudden people are doing things no one ever dreamed of a few years beforehand.

Remember when...

...the internet was never going to have financial transactions it was way too insecure.

...the internet was never going to have streaming video or video conferencing because it was too slow.

...the interent was just about porn.

...everyone was worried that some Government would attack the internet and bring it all to its knees. Hence no self respecting business would ever use it for serious business applications.

...no-one would buy things online because they wouldn't be able to Touch them or see them.

...Uber would never work because no-one would be silly enough to get in a car with a complete strange.

Its pretty obvious that Bitcoin will never be a mass transaction system like Visa or Mastercard. Even big users of Bitcoin and crypto today have already moved away to other coins for high volume low value transactions.

Visa and Mastercard are only that big because in the old days you had to dominate the whole world in order to succeed and only one or two massive companies were ever going to be able to get that reach and keep it. New players had no chance of coming in. Crypto has already started changing that. Lots of people even today are already bypassing the financial system and using crypto to do things that would have been impossible without a bank (and their massive fees) only 5 years ago.

I have no doubt there are going to be a lot more scandals and issues with crypto in the future. But I also think they will get solved and it will develop at an astonishing rate just like the internet and other technologies have in the past. Its a game changer because for the first time ever there is a way to do financial transactions instantly across the whole world without the need for an intermediary like a bank or government. There is a lot of money, energy and very smart people pouring into this space at the moment and its not getting any smaller. Its growing at a ridiculous rate. Time will tell I guess, but I think you are a brave man if you think this is going to just disappear one day due to a few technical issues.

Edited by kramer_456

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carlos.raff

Heres a question for the crypto fiends no agenda as such

You wake up one sunny morning and whatever was in the wallet is "gone". Hacked, disappeared into cyberspace but for want of a better expression its "gone"... Dont respond with it couldnt happen the OP has already mentioned his "coin" disappeared

At this point in time who is the regulatory body you immediately pick up the phone to.  ??  My $100,000 has gone awol  ??

 

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kramer_456
1 hour ago, carlos.raff said:

Heres a question for the crypto fiends no agenda as such

You wake up one sunny morning and whatever was in the wallet is "gone". Hacked, disappeared into cyberspace but for want of a better expression its "gone"... Dont respond with it couldnt happen the OP has already mentioned his "coin" disappeared

At this point in time who is the regulatory body you immediately pick up the phone to.  ??  My $100,000 has gone awol  ??

 

Depends on where is was. There are lots of different types of wallets all with very different risk profiles.

If it was an exchange or something like that you could go to them and there have been examples where they have made arrangements to pay it back. Eg. nicehash (not really an exchange but similar in that they were a big company that could afford to arrange to pay it back)

The answer though is there is no regulatory body. So if its certain types of wallets its gone and that's it. Just like if you accidentally send it to the wrong person and they refuse to give it back.

Hardware wallets if used correctly can't be hacked. A true paper wallet could never be hacked but don't lose the paper. If you have a lot of crypto it should be kept in a correctly used hareware wallet. Not online or in a wallet connected to the internet in any way. Just like you wouldn't walk around with a lot of cash in your pocket.

In theory you could remember you private key in your head. That can't be hacked either. Although your so called friend could put a gun to your head and make you tell him. Has happened overseas.

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how122255
On 6/4/2018 at 03:38, Biennial said:

 

Some very good posts here lately...Lots to learn.

Edited by how122255

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carlos.raff
1 hour ago, kramer_456 said:

 

The answer though is there is no regulatory body. So if its certain types of wallets its gone and that's it. Just like if you accidentally send it to the wrong person and they refuse to give it back.

 

....and there in a nutshell is the sole reason to avoid this type of "investment" until such times there is complete regulation in place

I notice Bitcoin is now continuing its downward trend after a brief respite. No question that at its highs it made millionaires out of many a once in a lifetime opportunity I'd be the first to agree

Edited by carlos.raff

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kramer_456
1 hour ago, carlos.raff said:

...and there in a nutshell is the sole reason to avoid this type of "investment" until such times there is complete regulation in place

Absolutely....just like you should avoid using the internet until its 100% secure and free from all hackers!! 55555 :D

Probably don't travel in cars either....I've heard a lot of people die in them!

Edited by kramer_456

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taylor1975
4 minutes ago, kramer_456 said:

Absolutely....just like you should avoid using the internet until its 100% secure and free from all hackers!! 55555 :D

Probably don't travel in cars either....I've heard a lot of people die in them!

its not that its secure, its that it gets repaid if it gets stolen ....sometimes even if the customer has enabled it!! ....the benefits of regulation? Yes please.

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kramer_456
6 minutes ago, taylor1975 said:

its not that its secure, its that it gets repaid if it gets stolen ....sometimes even if the customer has enabled it!! ....the benefits of regulation? Yes please.

You're completely missing my point!

But yes if that is your No. 1 concern at the moment with regard to crypto and you don't like or need any of the other 1000's of potential benefits! Then yes you should completely stay away from it!

Lots of other people are not like you and they will continue to use it in greater and greater numbers.

Edited by kramer_456

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taylor1975
4 minutes ago, kramer_456 said:

You're completely missing my point!

But yes if that is your No. 1 concern at the moment with regard to crypto and you don't like or need any of the other 1000's of potential benefits! Then yes you should completely stay away from it!

Lots of other people are not like you and they will continue to use it in greater and greater numbers.

i'm typing on an ipad. In theory i could use it as a doorstop or a plate for dinner, but why, when there are perfectly fine other solutions available. On that premise, give us your top 10 crypto uses, that can't already be perfectly met....(lets ignore investment potential as thats not a 'use' and also illegal shit, as thats not cool)

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kramer_456
1 hour ago, taylor1975 said:

i'm typing on an ipad. In theory i could use it as a doorstop or a plate for dinner, but why, when there are perfectly fine other solutions available. On that premise, give us your top 10 crypto uses, that can't already be perfectly met....(lets ignore investment potential as thats not a 'use' and also illegal shit, as thats not cool)

Ok this is going to be my last comment as its getting boring now. If you don't like crypto stay away from it...easy.

The ipad analogy you used is pretty dumb. Why don't you compare things that match. Like PC's can do what laptops do, but laptops still became popular, same as ipads, same as smartphones. Who the fuck really needs a smart watch? But now everyone has one. In theory you can do the same on all of them but people prefer different ones for different reasons.

Just because something else can do the same thing doesn't mean someone won't prefer the new or alternative one for its particular characteristics. The world is full of products that do the exact same thing as something else that already exists and yet they become super popular anyhow.

1. Investment is definitely a use and could appeal to lots of people in ways that other traditional investments don't. Why is investment not a use? It can definitely be used as a way to store value that may appeal to people over the traditional options.

2. Trading for profit 24/7 with very little fees and government intervention. Some people are happier to have less regulation even if it creates more risk. Some people like more volatility.

3. Transferring large amounts of money instantly and anonymously. I guess in theory this is illegal even if its not ill gotten or for illegal reasons. Because Governments what to make sure they can track you. Some people just don't like being tracked.

4. Transferring money to friends and family anywhere in the world instantly without lots of red tape and fees.

5. Smart contracts and applications.

6. As a way of taking payment or donations for your content or products online. Companies like Paypal, Google, Apple, Visa etc are becoming increasingly leftist and social justice warriors. Lots of content providers who these companies disagree with have been shut out of the payments systems lately. Eg. Wikileaks, certain right wing writers and comentators.

7. Just because something is illegal doesn't mean its not cool. You're on a monger website for Pattaya. You realise prostitution is illegal in Thailand??? People have used Gold and cash to get around Government regulation they don't agree with forever. Crypto can be used as a new way to do the same that is way more versatile and easy. Even if you don't use it for that it may still become very popular if others do. Video and to a degree the internet both benefited from their popularity in the begining with porn producers and users.

8. As a way of raising money for innovative startups without all the overhead of traditional capital markets. Lots of good idea are completely locked out of traditional markets. Many writers and content providers make a fortune on the internet now that would never have seen the light of day under old traditional media and publishers in the past. 

9. As a payment smart contract mechanism for peer-to-peer exchanges.

10. Automated security systems where granting or denying access is embedded as code on the block-chain.

This is going to be my last comment. If the absolutely insane amount of new technologies, industries and products (internet, smartphones, google, facebook, amazon, netflix, uber, aribnb, youtube just to name a tiny few) that have appeared over the last 30 years and completely changed just about every part of modern life is not enough to convince you that something new might come out of a technology like crypto. That's fine with me, I really don't give a shit. I happen to believe this is going to have a major impact.

 

Edited by kramer_456

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carlos.raff
3 hours ago, kramer_456 said:

Absolutely....just like you should avoid using the internet until its 100% secure and free from all hackers!! 55555 :D

Probably don't travel in cars either....I've heard a lot of people die in them!

Move the goalposts as much as you like. As a former (sucessful) investment manager for Equity and Law my views carry some weight. You lose money with Morgan Stanley, Barclays. Perpetual. Lloyds, Hargreaves Landsdown (insert your own) and theres a regulatory body in place who will investigate and where appropriate reinstate the client

Your simple words in response to a regulatory body were in short Crypto doesnt have one. At this point I'll bow out

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how122255

Various forms of regulation are being drawn up as we speak in many countries...USA, Japan, S. Korea, and Euro are all considering how they want to regulate cryptos...I am sure in 1-2 years or less that most of these countries will have the regulations that will make you feel safe...Many countries already have strict anti-money laundering rules in place...Myself, I really enjoy the 24/7 availability of trading/investing/gambling  that can be done for such very low fees.

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taylor1975
2 hours ago, kramer_456 said:

Ok this is going to be my last comment as its getting boring now. If you don't like crypto stay away from it...easy.

The ipad analogy you used is pretty dumb. Why don't you compare things that match. Like PC's can do what laptops do, but laptops still became popular, same as ipads, same as smartphones. Who the fuck really needs a smart watch? But now everyone has one. In theory you can do the same on all of them but people prefer different ones for different reasons.

Just because something else can do the same thing doesn't mean someone won't prefer the new or alternative one for its particular characteristics. The world is full of products that do the exact same thing as something else that already exists and yet they become super popular anyhow.

1. Investment is definitely a use and could appeal to lots of people in ways that other traditional investments don't. Why is investment not a use? It can definitely be used as a way to store value that may appeal to people over the traditional options.

2. Trading for profit 24/7 with very little fees and government intervention. Some people are happier to have less regulation even if it creates more risk. Some people like more volatility.

3. Transferring large amounts of money instantly and anonymously. I guess in theory this is illegal even if its not ill gotten or for illegal reasons. Because Governments what to make sure they can track you. Some people just don't like being tracked.

4. Transferring money to friends and family anywhere in the world instantly without lots of red tape and fees.

5. Smart contracts and applications.

6. As a way of taking payment or donations for your content or products online. Companies like Paypal, Google, Apple, Visa etc are becoming increasingly leftist and social justice warriors. Lots of content providers who these companies disagree with have been shut out of the payments systems lately. Eg. Wikileaks, certain right wing writers and comentators.

7. Just because something is illegal doesn't mean its not cool. You're on a monger website for Pattaya. You realise prostitution is illegal in Thailand??? People have used Gold and cash to get around Government regulation they don't agree with forever. Crypto can be used as a new way to do the same that is way more versatile and easy. Even if you don't use it for that it may still become very popular if others do. Video and to a degree the internet both benefited from their popularity in the begining with porn producers and users.

8. As a way of raising money for innovative startups without all the overhead of traditional capital markets. Lots of good idea are completely locked out of traditional markets. Many writers and content providers make a fortune on the internet now that would never have seen the light of day under old traditional media and publishers in the past. 

9. As a payment smart contract mechanism for peer-to-peer exchanges.

10. Automated security systems where granting or denying access is embedded as code on the block-chain.

This is going to be my last comment. If the absolutely insane amount of new technologies, industries and products (internet, smartphones, google, Facebook, amazon, netflix, uber, aribnb, youtube just to name a tiny few) that have appeared over the last 30 years and completely changed just about every part of modern life is not enough to convince you that something new might come out of a technology like crypto. That's fine with me, I really don't give a shit. I happen to believe this is going to have a major impact.

 

Nothing new in that list that wasn't there a year or 2 ago. I'm getting impatient with this crypto technology, considering its all valued at $334bn. 

If there are no new uses by the end of this year, will the values drop further? Will be interesting to see. 

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how122255

With many, many new exchanges and  hedge funds being established, I think in 1-2 years the cryptos will be giving the equity and commodity markets some real competition.

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Ludhamlad
18 hours ago, carlos.raff said:

Move the goalposts as much as you like. As a former (sucessful) investment manager for Equity and Law my views carry some weight.  At this point I'll bow out

LOL.....they didn't carry much weight on here.

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supergeil
On 6/5/2018 at 07:33, kramer_456 said:

Although I don't understand your point about the cost of a 51% attack needing to be greater than the amount you steal (pretty obvious) and then connecting that with the transactions fees for running the network being greater than the value of the transaction. Its pretty obvious that the current cost of transaction fees on the network is way less than the value of most transactions

Current transaction costs are lower, yes. As I wrote, this works now because miners get block rewards (although for network security it actually did *not* work for bitcoin gold).

But there are a few things here related to block rewards:

  1. Block rewards in the first place is a bad system because it should cause inflation. The equivalent would be if we told banks that we print 100,000 USD every time they have done 4,000 new transactions and gave this new money to the bank that did the transactions. That is basically how bitcoin work, and why miners are (currently) not concerned about transaction fees.
  2. Block rewards are halved every 4th year, so if miners run at break-even today it means that in ~2 years they will get 6.25 bitcoins less for their work. At today’s value that’s around $50k, and one block contains about 4,000 transactions, so if everything else remains equal, the transaction fee should go up with (the equivalent of) 12.5 dollars in ~2 years per transaction. I say if everything else remains equal, but consider the parameters you have here: more miners = more expensive to mine, less miners = less secure network. Isolated, the best way to solve the problem is to get 1 bitcoin to double in value for the next halving, this of course leads to the question of what exactly makes bitcoin go up in price, since no underlying value is being generated, and new bitcoins are issued every 10th minute (see #1).

As for the relationship between transaction fees and network security, let me try with a simple example, I will pretend here that we do not issue block rewards to miners:

We have 25 total miners each with equal equipment.

Mining one block for one machine costs $100.

Since miners have equal capacity, they will each get a block appended to the blockchain 1/25 of the time, i.e. they will have to mine 25 blocks before they get payment (in form of transaction fees). The cost of 25 blocks is $2,500, so the combined transaction fees of one block should amount to at least $2,500 for this to be sustainable for the miner.

But a network of 25 miners means I only need to rent 26 machines (in the cloud) to do a majority attack, and we know the cost per block is $100, so my cost for this would be $2,600 per block, though I would recoup most of that from transaction fees (since as the majority miner, I would be the only one producing confirmed blocks).

This is clearly not secure, so we need to increase the cost of producing a block. We can do that in two ways, either we can increase the difficulty of producing a block so that more CPU power is required, or we can increase the number of miners, but in both cases, the effective price to mine a (confirmed) block for the miner will go up.

And as the miner needs to at least break even, they are forced to increase their transaction fees accordingly.

As for block rewards, what is currently done is that in addition to the transaction fees, a miner gets 12.5 bitcoins (for a confirmed block), that is why right now, it is OK that the effective price to mine a block is almost $100,000 and this cost is currently *not* charged as transaction fees. But bitcoin holders do pay for it indirectly via inflation, but more importantly, this reward goes down over time, so eventually miners will have to charge the almost $100,000 that it cost to mine a block, as transaction fees, or alternatively, the price of mining will have to go down (e.g. by taking miners offline), but that would mean the price of a majority attack also goes down.

On 6/5/2018 at 07:33, kramer_456 said:

All the issues you mention are well know and a simple search on any of them will bring up 1000's of articles and forum posts with people discussing them and also discussing various solutions.

Right, lots of issues, lots of discussion about solutions. Yet after 10 years, none of the fundamental issues have actually found any solution!

On 6/5/2018 at 07:33, kramer_456 said:

Crypto is very much in its infancy. A lot of these technical issues are not that different to the types of issues that the internet and many other tech game changes have had down through the years. […]

It is not at all the same. You really need to understand the problems facing blockchain technology and the problems that have faced past technologies.

For example with the internet, I never heard anyone say “it will never work” with a detailed analysis of the issues, but of course it was widely accepted that regardless of the progress we’ll make, latency between Bangkok and New York will never go below 45 ms because even if we had the resources to do one long direct fiber cable, we are still limited by the speed of light.

For blockchain technology, take the security of the network that I have described above: You need to change the fundamentals of math to arrive at the conclusion that cheap transactions != insecure network. But that is just one of many problems that can likewise be described in mathematical terms, for example we can calculate the storage needs of a blockchain with VISA/MasterCard levels distributed to all participants in the network and compare that to number of atoms in the universe to conclude that this is just not feasible.

Anyway, I was really hoping for you to make the promised post about how cryptocurrencies are a game changer!

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kramer_456
3 hours ago, supergeil said:

For example with the internet, I never heard anyone say “it will never work” with a detailed analysis of the issues

I did and I was being paid by a bank to travel to the cutting edge tech conferences all over the world to investigate and learn about it. The tech issues we would laugh at now were very big deals back in 1995 when people were still dialing in on 14.4k modems!

But I tap out. I'm sure you are the guy that has it all worked out and crypto will die a slow death because no one will ever figure out the insumountable tech issues that you have so rightly identified. Its inconceivable that some smart guy might come along and figure out something you haven't thought about already. I'm sure time will show you to have work it all out already! Congratulations! :D 

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how122255

I'm not a super smart tech guy,  but I know that the crypto field is full of these very smart people that fully understand the problems that some are referring to...I have no doubt that these smart tech people will come up with solutions to these problems just as they have done with the many internet problems that have arisen through the years...There is a LOT of money being pumped into crypto infrastructure recently and I am sure these people that are spending this big money know what they are doing...

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