Post
Topic
Board Bitcoin Discussion
May I vent? WTF economics
by
classicsucks
on 19/05/2016, 08:58:30 UTC
OK so bitcoin seems to be generating some buzz worldwide. Obviously China and Russia are interested in it, if only to arbitrage both sides of the market, and maybe destabilize the already-tenuous US dollar while they're at it. Silicon Valley is onboard 100%, but their entire crypto-utopian vision correlates identities and accounts with coin addresses... which is counter to the mainstream coiner who has a brain... which is why someone can pretend to be the inventor of bitcoin... The "fintech" morons are salivating to cut costs.

It's a global stage. The plot and characters have been expounded on. Now let's see what happens. Wall Street wants to leech onto the crypto scene, to do zero work but get paid. Mining is Chinese-controlled. The hardware manufacturers are all there. Abstract bitcoin derivatives with stupid profits is the end goal of Wall St. thugs. Everyone developing is expected to bow to the fiat/coin exchange rate like a god.

I was hoping this could evolve beyond "douchebags repeatedly exchanging meaningless tokens of marginal value for ever-increasing profits".

On the flipside, this network is global, and it seems to be fairly robust against long-term DDOS attacks (ie. Classic/reXT/unLimited).

Next up is transactions that traverse a series of blockchains in a chaotic fashion in a short time interval... bye