It will need some time for you evangelists to learn that bitcoin is digital gold and not digital money.
Fyrstikken (cryptorush) would call it a commodity: http://www.youtube.com/watch?v=8q9DvydzAsY
Quote: "Bitcoin worshipers will never go to heaven " LOL
Price trending to the cost of mining it.
Use of malicious negative feedback to suppress free speech brings shame on the bitcoin community.
Frystikken is an idiot.
But that doesnt disprove my point. Its simply plain logic, that a hard cap coin can not be a currency. It IS a ponzi and risky investment.
Money works totally different from Bitcoins. As said, it is not wrong to invest in bitcoins, but what's wrong is to confuse gold and money.
So gold is a ponzi scheme? I'm confused. I'm also confused about what happened here. Auroracoin is dead now? Was it actually a scam or did somebody just destroy it for kicks and giggles or for their own personal motives? Also, how was it so easy to kill the coin? Doesn't this mean every other low hashrate scrypt coin is vulnerable? What about scrypt-N and PoS coins? Thanks in advance for helpful replies, I'm just looking for information and trying to understand how things are shaping up in this dark world of cryptocurrencies.
Since when was there a hard cap on gold?
LOL. Are you an alchemist from the 17th century? You do realize gold cannot be created from your urine, right? The only feasible way to make gold, and therefore exceed the natural "hard cap" on it, is through nuclear bombardment and beta-decay of other precious metals. This process would be insanely more expensive than what you would get out of it, and most of the gold you would get out of it would be radioactive
This is hilarious... So you think because more gold can still be minded it doesn't have a hard cap? So since bitcoin can still be minded it doesn't have a hard cap? Gold was formed during the earliest stages of the earth, and the majority of it and other precious metals sunk into the core. The current available supply of gold exists because of meteorites bombarding earth a long, long time ago- this "flung" gold out of the core of the earth and into accessible regions of the mantle. So, in theory there is another way to increase the accessible "hard cap"- just have to wait until the earth is completely screwed by a bunch of meteorites again... lol. tl;dr there is no way to increase the amount of available gold i.e. it has a hard cap. once all the accessible gold is mined, there will be no other source- just like bitcoin...