best comments:
'Reading all the comments as well as listening to all those people on various conferences is convincing enough to understand what is going on in so called crypto currency world. And maybe it's time for so many of people following this new trend to become sceptic as it should be knowing couple of things:
Cryptocurrencies exist in ecosystem known as Internet. While many of you consider it as independent network for various type of communication(financial, real time communication tool-mobile phones, and other communicational tools, transport etc) it is absolutely very much centrally controlled network, looking from perspective of software and hardware, it does not mater. Claiming that there are mathematical algorithms which are totally independent and unbreakable in such ecosystem is a fairy tale. First of all lets imagine this thing in ecosystem which is using infrastructure build by governments(eventually you need real time cables and other equipment to be installed in order network to be able to function at all). If this is a fact, which undoubtedly it is(correct me if I'm wrong), it means that a most important tool, that enables existence of the network, is under CENTRAL AUTHORITY CONTROL. Do I need to remind you who is Edward Snowdan? Do I need to remind you who is Julian Assange? Did you read any of documents issued in Vault 7 revealed couple of months ago? If authority is able to control software and hardware where do you see decentralization in bitcoin? Oh you mean this romantic idea it will make humans free of control by the government, just by saying it is untraceable(and i is very traceable no need to show examples, you can find them by your self)? Do you believe that anyone in control of monetary system and all the wealth will allow some computer scientist and bunch haha developers to crush down the system, which they control anyway? And in the end Bitcoin as well as other cryptocurrencies are in all their core principles part of the monetary system. The minute you exchange bitcoin for any paper currency you are making it part of a system. If it wasn't part of system why would anyone in his right mind give you any paper currency in exchange for computer algorithm? Because it's unbreakable? Because the transaction is validated and written in a ledger? Bullshit! Every transaction that you make by using a credit card is validated as well otherwise you get shit on your account, or you transfer shit to another person account or business account. Oh transaction fees are less then in banking system. Well wake up today is 2,5 $ and in one year will come to at least 20$ and so on. Calculating this is not so hard. So even that is just a story which will not stand for long. It is valued because the major monetary players have taken their place in the ecosystem and now they are propelling it to sky. As they did with almost anything in monetary system. There is no decentralization in monetary system. The set up of monetary system does not recognise anything but centralised authority as that is the only way to control the system in whole. All this bullshit stories in connection to scalability of Bitcoin and network is just a game. First the mind of mathematician, which essentially you need to be good at in order to become good computer scientist, does not work in a way that it does not pay attention to details. Because accuracy of final result is IMPORTANT TO MATHEMATICIAN. In this regard the one who created bitcoin code and started all of this knew up in front that the system will either crash under same protocol used on large scale or will be upgraded in order to survive. He knew that scarcity is basics for the value. If tomorrow starts raining gold first couple of days you would see madness on streets. But if it would continue to rain for a month you would see people trying to get rid of the shit that is making their life difficult. He also knew that once the value start growing up and once it surpass a value that is standard for what humans are perceiving as ultimate value such as gold, it will become an asset for which will many strive to get to. And in order to get to it you need to engage a paper monetary value. This propels other industries as well. And if you do not see this then you undervalue the power of monetary system and people leading it. You see these days graphic cards are actual gold. As everyone knows they are LACKING in the market. People are PREPAYING FOR THEM EVEN MONTHS IN ADVANCE! What amaze me is that all of us are willingly participate in this game, in which we know who will be the winner. Bitcoin is just another monetary tool that has been used and it is still been tested in order to switch paper currency world in next couple of years. AND IT WILL BE CENTRALIZED AND CONTROLLED BY THE GOVERNMENT, otherwise it will disappear. Be very careful with what ever assets you have. Do not invest everything and on large scale except if you play with money you have earned after you return your invested assets.!!!