Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Bitcoin has an history and infrastructure that cannot be easily replicated.
Newsflash, dipshit: Bitcoin's infrastructure is as a payments network. Bitcoin's history means zip diddly squat if some other alt is backed by a bank with a 50 Billion dollar market cap.
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In crypto 5 might as well be 5000 when referring to the competition.
against another grass roots bootstapped alt, yes. Against an alt backed by a Fortune 500 company or billionaire with a slick multi-million dollar marketing campaign, no.
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Your point about gold's transaction throughput is laughable. The limits on gold transaction and its very real cost is considerable given its physical nature. Even 7 tps accross the world is better than the transportability of gold.
yes, but your fees make the divisibility of BTC much more limited. I'm pretty sure there are far more than seven global gold transactions per second. Even more when you count micropayments, like buying shots of Goldschlager. And, other than Government thugs, no assholes arguing that we should minimize them.
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Comparing Bitcoin's network effect to MySpace where there is essentially no cost to the users for switching networks confirms you as just another simple noob. Did you buy this account? You can't have possibly registered in 2011 and utter such idiocy.
What's the cost of trading BTC for any alt on any one of a dozen exchanges? A fraction of a percent? The only costs are paying your goddamn miner fees and waiting for your confirmations. It's not the switchers like me you need to worry about. It's the people who enter crypto going straight to the alt that better suits their needs.
It's early but that might just deserve our award for stupid post of the day.
Might as well say people will throw themselves at Govcoin while you're at it
This is just beyond hilarious. Why the fuck would you even think a centralized payment network supported "by a Fortune 500 company or billionaire with a slick multi-million dollar marketing campaign" would bother creating a cryptocurrency. Do you understand the necessity for the blockchain and POW design and why it is totally worthless and ridiculously inefficient under centralized control?
By the way I'm certain Germany would kill to be able to get the Fed to return their gold to them even if they'd have to wait for the next block
And finally of course you would totally miss the point about "the cost" of switching network. I encourage anyone to invest into an alt that suits their needs ...... and it's gone!
"Newsflash dipshit" Bitcoin would be worth absolutely fuck all if it was valued for the success (or lack thereof) of its "payment network". It's only worth anything because people have decided to trust a portion of their wealth into it.
Are you cypherdoc's brother by any chance? This sounds like some of the stupid shit he'd say to hopelessly defend his points.