REALIST NEWS – Bitcoin – Web Bot – Silver – Oh My

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20 COMMENTS

  1. It was Mike Hearn and yes, he is a sell-out. And I'm proud to say I called it early based on his Google pedigree. He wanted to turn Bitcoin into another dumb Google+ App and when he saw he couldn't, he made a staged exit for the R3 Blockchain consortium. If people don't want to get behind a free and open blockchain (Bitcoin) they can be enslaved by the bankster's blockchain (R3).

  2. Prices rise when buyers buy. So who's going to buy into Bitcoin when the ledger forks. Block chain tech is flawed. Only if Saudi Arabia buys Bitcoin will it jump again. You can't even use it everywhere. And trading; they zap you with fees like mad. Be careful how you spend your money. Peace

  3. What concerns me with bitcoin is the future…. the tech is in a vulnerable place right now with all the debates going on around how to " fix " bitcoin to make it more….. future proof.
    I still think in the future something will take bitcoins place….
    Bitcoin is like what email was to snail mail.
    The problem is people forget that America Online had a monopoly on email (and internet provider market) for a relatively short span of time.
    The first " brand " to go to market rarely if ever endsup winning the race in a free market economy.
    Aol essentially has almost a negligible market share of online business nowadays compared to what it used to.
    The same thing will happen to bitcoin given a year or two for people to wrap their head around decentralization and come up with something exponentially better.
    Everyone used to use AOL , Yahoo Lycos , etc…. until GOOGLE came in and knocked the entire game board over.
    I am still waiting for the " google " of crypto payment systems to emerge.
    And I am not trying to hate on bitcoin, I am just saying that in my mind I see something overtaking bitcoin as an inevitable event that people should prepare for and watch out for because it may endup being the opportunity of a lifetime.

    I see these as the primary things that make bitcoin flawed:
    1) Limited Block size
    2) Eventually the coins will run dry and the miners will be forced to operate on fees only, which lets face it if the fees are not worth it the hashrate will drop and the network will become slow/vulnerable/un reliable and at some point it may not be worth it for miners to invest in new hardware to skim fees alone that will be a very risky moment for crypto in its current form.
    3)The large wallet / ledger size , some kind of compression needs to happen people shouldnt have to download 100GB to have a copy of a ledger (not that you need the entire ledger but still….)
    4) Ease of use, people rarely still use long WIFI keys to log into their wifi network, I dont think the future will see people using long key strings to spend crypto currency and perform day to day transactions (its not practical )
    5) For a " decentralized currency " bitcoin is pretty…. centralized there are only a handful of " mega miners " out there who at anytime could collude to alter transaction history…… huge risks.

    The first crypto payment system to solve these hurdles will replace bitcoin overnight…..
    Needless to say decentralization will probably happen because its the only way the free market will be able to sustainably function under such oppression from socialist regimes and govts….. citizens will look for ways to hide wealth/spend without being taxed….. because the tax burden on society is growing way too disproportional……… its completely unsustainable….
    People just want to be free, the only way to do that nowadays is by making every transaction private/nontaxable…….

  4. Bitcoin is just another silly place to park fiat. Think about it, you have to go online to use Bitcoin and they are stored in a virtual purse, so what happens when the net is down or governments just ban Bitcoin payments and usage. It just seems really risky storing fiat in something you have no control over, you might as well keep it in a bank!

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