Jamie Dimon: "I Regret Calling Bitcoin A Fraud" | |
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DRGONZO
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DRGONZO
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DRGONZO
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Anonymous Coward User ID: 74859192 Sweden 01/09/2018 01:45 PM Report Abusive Post Report Copyright Violation | Bitcoin only exists as long as it is profitable to mine it. The minute no-one can mine and make a profit all mining shuts down, and then bitcoin is STONE DEAD. No transactions can be made, no-one can get any real money for their bitcoins, and the value of your bitcoin is now zero. How long will it take before mining becomes unprofitable? No-one knows for sure, but math guarantees that it must happen sooner or later. Bitcoin has a limited shelf life by design. It becomes harder and harder to mine as time passes. At some point breakeven can't be reached for the miners, and bitcoin is history. When bitcoin dies, all altcoins will likely die too, since the entire crypto ecosystem is built around bitcoin. The exception will be digital currencies supported by central banks and financial institutions. |
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The Rickest Rick Sanchez
User ID: 73168454 United States 01/09/2018 01:56 PM Report Abusive Post Report Copyright Violation | Absolutely not Wait for Dimon and Blankfein to inflate the bubble first They will sell crypto to the American Public The universe is basically an animal. It grazes on the ordinary. It creates infinite idiots just to eat them. The Rickest Rick Sanchez comments are meant for entertainment purposes only and should not be construed to reflect the feelings and opinions, implied or expressed, of the author. |
The Comedian :D
User ID: 75177906 United States 01/09/2018 02:19 PM Report Abusive Post Report Copyright Violation | :nelson: Saint Comedian, Patron Saint of Bringing the Butthurt to Dipshits ‘There are some assholes in the world that just need to be shot.’ - General Mattis, USMC, Secretary of Defense [link to www.godlikeproductions.com] "Subterfuge and social pressure are the wheel and fire of the 21st century" - Some asshole Legal Disclaimer: All comments are intended as humor and/or fiction and not advice, and not to be confused with any event or person, living or dead. |
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Anonymous Coward User ID: 74919280 United States 01/09/2018 02:58 PM Report Abusive Post Report Copyright Violation | another thread, where most people show they still don't understand how crypto works or what determines it's price. Quoting: Anonymous Coward 70869817 it's not a fucking secret. JP Morgan Chase has a long history of FUCKING the muppets. You don't understand how JP Morgan works, generations of banking and money handling that you cannot comprehend. If you don't think that JP Morgan can take every last cent from cryptotards chasing whatever 0 or 1 just went up.... well enjoy the ride. |
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humbird
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Sir France's Beercan
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Sir France's Beercan
User ID: 69853668 United Kingdom 01/09/2018 03:22 PM Report Abusive Post Report Copyright Violation | Translation.... Quoting: DRGONZO "Now that JP Morgan has accumulated enough cheap BTC for itself I no longer think BTC is a fraud.." I mean how fucking obvious is this guy...? Yep they’re a bunch of wankers, they know exactly what they’re doing. Didn’t Dimon’s own bank show up as have bought millions of dollars of bitcoin in the plunge following his previous comments? |
Anonymous Coward User ID: 4466048 United States 01/09/2018 03:37 PM Report Abusive Post Report Copyright Violation | Bitcoin only exists as long as it is profitable to mine it. The minute no-one can mine and make a profit all mining shuts down, and then bitcoin is STONE DEAD. No transactions can be made, no-one can get any real money for their bitcoins, and the value of your bitcoin is now zero. Quoting: Anonymous Coward 74859192 How long will it take before mining becomes unprofitable? No-one knows for sure, but math guarantees that it must happen sooner or later. Bitcoin has a limited shelf life by design. It becomes harder and harder to mine as time passes. At some point breakeven can't be reached for the miners, and bitcoin is history. When bitcoin dies, all altcoins will likely die too, since the entire crypto ecosystem is built around bitcoin. The exception will be digital currencies supported by central banks and financial institutions. Fundamental misunderstanding of the technology. The fewer the miners, the lower the difficulty, therefore the easier it is to mine. The more miners, the higher the difficulty. There will always be a supply/demand equilibrium based on this system. "Profitable" vs. "unprofitable" is situationally unique to every miner. The sweeping generalization of a (false) specific notion applying to the whole of the diverse alt-coin ecosystem is a complete abandonment of logic. Then, to end with that a centralized fiat coin is somehow superior to the technologies that are a direct antithesis of centralized banking is merely a shill-point in disguise (the success of and demand for the antithesis indicate the level of desire for it as an alternative to centralized banksterism). Why don't you go stamp your boot on someone's face, I think you are able to understand that process better. |
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