/biz/ - Business & Finance

>>26245591

>So Kinesis is essentially what the dollar used to be, gold backed currency, why hasn't it been more widely adopted?

Because the MSM doesn't advertise it. If people knew that we already have gold-backed crypto which is 1000x more efficient than the useless Bitcoin, and that Bitcoin is fundamentally broken anyway, the price of Bitcoin would crash and the COMEX would break. Peter Schiff has been talking about gold-backed crypto for years but nobody has paid any attention to him. The bankers have also created the "If you don't hold it, you don't own it" meme to neuter any interest in digital gold, and muddy the waters between unallocated trash like GLD and allocated, audited 1:1 bullion.

https://www.youtube.com/watch?v=5Q9aYYluRA0

https://www.youtube.com/watch?v=z46UvutJ8v4

>>26211976

Most people are so ignorant of Bitcoin that they think that it's some kind of ultra-efficient, superior form of gold. They don't know about the $100 fees and 3-day transaction times in 2017. The exile of Gavin Andresen and Mike Hearn over the block-size debate. The fact that not even 0.1% of the world population could use BTC even on the Lightning Network. If they do a little research they learn that the modern BTC shills are now promoting a "store of value" narrative, and say that BTC isn't meant to be used as a currency. But there is no value to store; the currency aspect was the only place where value ever could have lied. Meanwhile, most people also don't know that we already have real, not fake digital gold, which truly can be used as a currency. >>26207721 So BTC serves absolutely no purpose. Not a store of value, not a digital currency. And yet gold is both of those things. When moonboys and naive boomers say things like "Bitcoin is the future, you can't make everyday transactions with gold or send it overseas" the ignorance simply beggars belief. The truth is directly the opposite.

>>26212768

BTC might go up or might plunge to zero in the short-term, but in the medium to long term it is undoubtedly going to zero, because it will serve no purpose when the dollar gets dumped and the world goes back to gold.

>>19233703

>zeroconf

https://www.reddit.com/r/btc/comments/dx4jpd/this_is_why_zeroconf_doesnt_work_on_btc/

"People often ask "why do you guys claim zero conf doesn't work on BTC?"

Unfortunately many people here don't give good answers. Too often, people reply, "because BTC has RBF."

Of course it's true that a merchant can't accept an unconfirmed RBF transaction because it can trivially be reversed. But that isn't the problem. RBF is optional, and in theory a non-RBF transaction should work like a BCH transaction.

The problem is congestion:

Suppose it's 1:00 (all the way over on the left) and you accept a non-RBF txn paying a typical low fee.

Question: when will the txn confirm?

Answer: maybe it won't.

When a merchant accepts an unconfirmed transaction on a congested chain there is always the possibility that demand for onchain txns will increase and the unconfirmed txn will stay stuck for hours or days, or might never confirm.

Zero conf txns work on BCH because there is always enough slack capacity to ensure that no txn that pays a reasonable fee will ever get stuck.

Lack of capacity is what kills zero-conf, and this is why we must always be working to improve BCH capacity well in advance of possible future demand."

>>18971057
>>18971173

Just as a warning to those who are still in the market, the exit-window for BTC is extremely small--only 3 transactions per second world-wide. If only 10% of other BTC speculators need to get out, your transaction will be blocked by 16 days worth of blocks piling up as your money is lost and the price crashes to nothing.

>>18963176

Buy Bitcoin; you can learn about it here

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

https://www.youtube.com/watch?v=UYHFrf5ci_g

yeah, it costs less than $1 if you don't mind waiting 4 days. we really need 0.1 mb blocks to force lightning adoption.

>>6757329
i hold only about $0.50 in bitcoin cash. id say $0 but the shit is so damn good at what it does that random people are getting it for tips and as payment for goods and services.

at this point, anyone who thinks core > cash is a brainwashed core faggot whos just investing for gains and doesn't care about telling the Jewish bankers to fuck off

no one is going to use lightning instead of an alt. simple fact is that converting to an alt is easier than opening a lightning channel