Bitcoin currency of the future?

[xcvbn]

He's rich. You're poor. I'll listen to him.

This guy's rich, give him a listen:

Novogratz Raises $250 Million for Crypto Merchant Bank
https://www.bloomberg.com/news/arti...to-raise-250-million-for-crypto-merchant-bank

 

[Der Eisbär]

He's rich. You're poor. I'll listen to him.

Warren Buffett: I was wrong on Google and 'too dumb' to appreciate Amazon

• Warren Buffett told shareholders at Berkshire Hathaway's annual meeting that he missed his chance to invest in Google.
• Buffett has largely avoided tech stocks because he said he didn't understand many of their business models.
• He said he was a customer of Google's ad business so he should have had a better sense of the company's outlook over the long term

https://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html



Yeah, trust the guy that admits he's too old and stupid to understand technology. He's definitely your good to source for advice on emerging tech. ;]

 

[Drenalin]

Those are all cases of exchange hacks or personal negligence. It's my understanding that part of what makes most crypto so enticing is that it's essentially impossible to hack the private key of an address(you need quantum computers and/or billions of years to crack them). This is thanks to the decentralized nature of the technology but once you add that "middleman" i.e. people, companies, etc that's how mistakes(or outright fraud and theft) are made.

Still hacks that scare bitcoin users & investors. Also I doubt bitcoin is as safe as they make it out to be. Of course it will be portrayed that bitcoin is impossible to hack. If they don’t say that, bitcoin can’t exist.

 

[xcvbn]

Still hacks that scare bitcoin users & investors. Also I doubt bitcoin is as safe as they make it out to be. Of course it will be portrayed that bitcoin is impossible to hack. If they don’t say that, bitcoin can’t exist.

 

[RagingBeringola]

That's the point of this thread. To facilitate a useful discussion on cryptos. People like Jones came into the thread and completely derailed it with ignorance and negativity

You guys are too radical in your positions. You've been overpositive while Jones has been very negative on the subject. But no way I see JonesBones as ignorant. he has valid points and posted several times interesting links (as you did too). You have different points of view, I see no point in you both (or Luminaire) arguing, but I admit it has been a fun read

 

[Der Eisbär]

More unbelievable ignorance

 

[xcvbn]

More unbelievable ignorance

Everyday we're still learning a lot about crypto but security(bitcoin uses SHA-256) of the blockchain protocol is like the one indisputable fact and a huge reason for why corporations and investors are interested in this space- it's incredibly secure.

So real quick, if you want to hack a Bitcoin private key(this bypasses any encryption you place on an address) you need to crack SHA-256. There's 2^256(This equals 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,936) different combinations of private keys. You would exceed the age of our universe trying to crack just one known address with all of the current hashing power in our world...combined.

Quantum computing has the potential to throw a wrench into things but as that space develops so too does hashing cryptography.

 

[Cygnus A]

i think it’s stable at 8000 right now

will head back to 1000 in a few days

1000 or 10000 ?

 

[Cygnus A]

Are you serious?? The literal low point of the year???? I fucking hate you right now.

I know I know.. Wanted to stop the bleeding LOL. Whatever I do with investing, you should do the exact opposite. I lost 50k in the stock market a few years ago.

 

[Michaelangelo]

1000 or 10000 ?

 

[CerebralKnievel]

I know I know.. Wanted to stop the bleeding LOL. Whatever I do with investing, you should do the exact opposite. I lost 50k in the stock market a few years ago.

I'm going to copy the message I sent you and resend it every day for the next decade.

 

[ChucksGlassJaw]

Warren Buffett: I was wrong on Google and 'too dumb' to appreciate Amazon

• Warren Buffett told shareholders at Berkshire Hathaway's annual meeting that he missed his chance to invest in Google.
• Buffett has largely avoided tech stocks because he said he didn't understand many of their business models.
• He said he was a customer of Google's ad business so he should have had a better sense of the company's outlook over the long term

https://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html



Yeah, trust the guy that admits he's too old and stupid to understand technology. He's definitely your good to source for advice on emerging tech. ;]

See, this is why you get so much shit. You just called Warren Buffett "stupid." Warren Buffett, the CEO of Berkshire Hathaway, whose net worth exceeds $84 billion is "stupid." Yet, we should listen to @Der Eisbär, the guy who's too poor to wager $100.

 

[CerebralKnievel]

See, this is why you get so much shit. You just called Warren Buffett "stupid." Warren Buffett, the CEO of Berkshire Hathaway, whose net worth exceeds $84 billion is "stupid." Yet, we should listen to @Der Eisbär, the guy who's too poor to wager $100.

It goes without saying that he isn't stupid, but he isn't a computer engineer or even knowledgeable of the fundamentals of software and his track record with internet technologies is not impressive. He's a titan of wealth and nothing will change that now, but for this very significant sector of economy he is too old to learn the tricks and really does not know what he's talking about any more than half of these clueless senators when they discuss technology. Just old rich white guys.

 

[ChucksGlassJaw]

It goes without saying that he isn't stupid, but he isn't a computer engineer or even knowledgeable of the fundamentals of software and his track record with internet technologies is not impressive. He's a titan of wealth and nothing will change that now, but for this very significant sector of economy he is too old to learn the tricks and really does not know what he's talking about any more than half of these clueless senators when they discuss technology. Just old rich white guys.

He's smart enough to stick to his fundamentals and not invest in things he doesn't understand.

 

[CerebralKnievel]

He's smart enough to stick to his fundamentals and not invest in things he doesn't understand.

Well, yeah, but to the point of this topic I think that only reinforces the statement that he is not an authority on the subject.

 

[SwamiLeoni]

Still hacks that scare bitcoin users & investors. Also I doubt bitcoin is as safe as they make it out to be. Of course it will be portrayed that bitcoin is impossible to hack. If they don’t say that, bitcoin can’t exist.

Lol he literally just said that the Bitcoin Blockchain cannot be hacked unless it’s with a quantum computer and those don’t even exist. You would need to control 51% of the blockchain to even attempt to try and it could take you more than 1 million lifetimes to do it. The easiest way for people to make money doing shady things is by hacking exchanges, creating bunk scam ICO’s, Ponzi schemes, phishing sites, phishing wallets, malware ect. Hacking Bitcoin is not one of them because there is no ROI.

 

[Der Eisbär]

See, this is why you get so much shit. You just called Warren Buffett "stupid." Warren Buffett, the CEO of Berkshire Hathaway, whose net worth exceeds $84 billion is "stupid." Yet, we should listen to @Der Eisbär, the guy who's too poor to wager $100.

I'm just being a little rude. He's obviously not stupid. But he is too old to understand technology and has a terrible track record on investing in the tech sector. If your game is traditional investments like real estate, then Warren is your man. But he is not an authority what so ever on technology, and especially not brand new emerging tech like cryptocurrencies.

 

[ChucksGlassJaw]

I'm just being a little rude. He's obviously not stupid. But he is too old to understand technology and has a terrible track record on investing in the tech sector. If your game is traditional investments like real estate, then Warren is your man. But he is not an authority what so ever on technology, and especially not brand new emerging tech like cryptocurrencies.

You overstated your position? Shocking.

 

[Der Eisbär]

You overstated your position? Shocking.

Way to address nothing of significance. You just keep looking for cheap little moral victories like this is somehow a fucking competition. How about you engage in actual discussion of the topic or GTFO this thread?

 

[RagingBeringola]

I know I know.. Wanted to stop the bleeding LOL. Whatever I do with investing, you should do the exact opposite. I lost 50k in the stock market a few years ago.

Don't hesitate to share your moves with your fellow sherdoggers