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Strategies & Market Trends : ahhaha's ahs

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To: dvdw© who wrote (24625)	5/29/2017 12:08:30 PM
From: GraceZ	Read Replies (1) of 24758

Just a minor correction in case someone here reads your reply without reading my original post and gets the wrong idea. I only owned BTC briefly as a way to move fiat into the alt crypto-currency ahhaha convinced me was a better technology because it used a distributed ledger that relies on consensus among multiple nodes as opposed to the way the blockchain in BTC works with each mining computer competing against all others to show proof of work. He later argued that while the payment network created by our speculation was valuable, the token or currency we held might not appreciate even if the solution was widely accepted. I hung onto his original argument about a distributed network being 100s to 1000s of times faster and then also argued that the price of the token didn't matter to the participants as almost no participant would hold it longer than the seconds it took to transact. He agreed it didn't matter but to him that meant the value of the token would fall or remain constant and to me it meant it would rise in value. Small amounts are destroyed during each and every transaction so it can't remain constant. I think everyone here is familiar with the serious hardware requirements of BTC mining. The block size and time for transactions to be confirmed in BTC has become a serious issue that has dogged BTC for a while now, keeping it from competing with payment systems like VISA. There are solutions that can be implemented if agreements can be made but will most likely end up in a fork, hard or soft. Right now it looks like an agreement will be reached without a hard fork and this is the reasoning behind the latest run up in BTC price. That said, all the crypto-currencies have entered into a period of wild speculation. There will be tears and heartbreak as most will end up as zeroes. Until recently, holding the alt instead of the BTC I bought and sold to get it seemed like a seriously bonehead move. It may still turn out to be a bonehead move. History is still being written. What seems to be true regardless of which crypto-currency attains dominance in the future is that central banks have lost control over money creation. I fully expect the empire to strike back and already you have politicos calling for BTC to be made illegal.

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