/biz/ - Business & Finance

[Anonymous No.56100605]

cryptobros have no response to this

[Anonymous No.56100648]

>>56100605
Wasn't this subreddit made like 10 years ago? The people who created it could've been millionaires if they bought some btc back then.

[Anonymous No.56100684]

>>56100605
>Most bitcoin belongs to a handful of whales
Owning bitcoin does not give you any control over the network, it's a proof of work system, not a proof of stake system.
>It's not possible for an independent miner miner to mine
Not true, loads of independent miners mine through pools which will become even more decentralized with stratum v2 which will allow the miner and not the pool to pick transactions to include in a block.
>The entire 3rd paragraph of nonsense
Literally read the bitcoin whitepaper. All bitcoin miners hold bitcoin, if they wanted to for instance conspire to steal Satoshi's coins they'd destroy the value of bitcoin, therefore destroying their own holdings value. It doesn't make any sense for a rational actor to choose to shoot themselves in the foot.

[Anonymous No.56100702]

>>56100648
Is there genuinely anything more pathetic than nocoiners? I remember seeing a post on that sub about a guy who had been there for like 10+ years. Imagine if he'd thrown $100 a week instead of fudding. Lol, lmao.

[Anonymous No.56100757]

>Bitcoin price in 2013: $100
>Bitcoin price in 2023: $26,000
Nocoiners: Gosh darn it feels good being right!

[Anonymous No.56100820]

>>56100757
You just wouldn't understand.

[Anonymous No.56100836]

>>56100605
I agree
Crypto has NO fundamental, NO value.
It's all made-up pure speculative asset.
and that's a good thing

[c23 No.56101116]

>>56100757
Majority of bitcoin fags is past Mtgox , most of MTgox coiners still does not have access to their imaginary wealth , buttcoin is comedy gold when it comes to bitcoin cultists XD

[Anonymous No.56101140]

>>56101116
George GAPEson

[c23 No.56101157]

>>56100702
Majority of people on this board didn't bought bitcorn in 2013 , if they did they either spend it on drugs or lost it at mtgox.

Most pathetic are people on this board who brag about something they didn't do in reality.

[Anonymous No.56101183]

>>56100605
still less centralized than jewish banking cartels

[Anonymous No.56101195]

>>56101157
>esl thirdie
Disgusting, probably indian too. God I hate brown people.

[Anonymous No.56101236]

>>56100605
The cryptobros might be too low IQ to formulate a response, but I'm sure the cryptohoes can manage.

[Anonymous No.56101238]

>>56100757
>2026
hahaha bitcoin crashed to $50k, it's dropped over 70% it's over!
>2030
oh shit it crashed to just $150k, bitcoin is dead!
>2034
lol it just crashed to $250k, good thing my girlfriend and I chose save up now that starter homes are only 2 million dollars. God damn it feels so fucking good!

[Anonymous No.56101252]

>>56100605
>I really do not get it
Oh sweet summer child, Aribeth De Tylmarande, you really don't even start to get how much you really do not get it.
Dumb bitch

[Anonymous No.56101256]

>>56100648
Don’t forget some crypto exchanges have shut down. Not to mention how easy it is for retards to lose their coins.

[Anonymous No.56101552]

>>56100684
>Owning bitcoin does not give you any control over the network, it's a proof of work system, not a proof of stake system.
infuriatingly close to getting it, but not able to think in more degrees than one; having bitcoin gives you capital to "control the network" by buying equipment
mining is "proof of capital/resources", it is literally identical to proof of stake in that regard - and the control you get is proportional to your resources in both systems (but more unfairly so under pow because you can't compete with mining farms who get cheaper hardware and electricity, whereas anyone can compete in proof of stake proportional to their wealth)

[Anonymous No.56101586]

>>56101552

the example is more simple than that really. what is more accessible: (1) having 100k and buying coins and staking, or (2) having 100k and needing to coordinate logistics for space, utility hookups, cooling/heating systems, hardware purchases, backup power systems, geopolitical concerns (like government policy), electricity costs, etc. etc. needed for a POW mining operation. It's clear which one is more 'fair' and 'balanced' for the general population, and it's not POW. It's just POS with extra steps that create a high barrier of entry that centralizes power.

[Anonymous No.56101697]

>>56101586
It doesn’t matter. The market will decide. It appears Bitcoin has already won the cryptocurrency game. It’s obvious at this point.

[Anonymous No.56101722]

>>56101586
>having 100k
Lel, go buy a cardboard starter house goy. You will never have the slightest impact on any coin, wether PoS or PoW, not even in your wildest dreams
>>56101552
>mining is literally identical to PoS and the control you get is proportional to your resources in both systems
Absolutely utterly adverbially wrong in every way.
First, what "resources" did Joe Lubin & Vitalik proffer to have an unknowably large stake in the network. Joe Lubin, Vitalik and three other anons might already have formed a cartel dominant enough to DoS attack any unwitting 'Ethereans' on their hit list. Not to mention now they sit on their fat (or in Vitaliks case anorexic) laurels and enjoy absorbing the 'non-dilutive' inflation of 'ultrasound' money without lifting a finger. Anyone can also compete in fiat monopoly money, proportionate to their fake fiat wealth.
Second, miners have a heat signature, irl. If by some miracle, a centralized mining operation got big enough to attack the network, you better believe that operation will be located irl and terminated irl. This is impossible with PoS.

[Anonymous No.56101729]

>>56101697
its not even remotely obvious wtf
investing in ETH has been better for 95% of the last 8 years (inb4 you start crying about le pico top of ETH/BTC), and Bitcoin is still an unused stagnant piece of shit - even in a bear its dominance is dwindling

[Anonymous No.56101764]

>>56100605
Bitcoin is decentralized because :
1. It has no central issuance.
2. There is no middle man that can stop the transfer of Bitcoin or confiscate it.

Anybody adding anything else to that definition is just that, them playing semantics by adding their own personal definition on what the word decentralization is supposed to mean.

A lot of the people in that /r/subreddit have no clue what they are talking about, them thinking that miners have the power to "take over some wallets" just proves that. I have no idea what the third paragraph is even trying to communicate.

[Anonymous No.56101775]

>>56101729
Basedlana is cheaper and faster than Eth. And both utterly lack decentralized lel
Eth is a premined shitcoin. Lubin ejaculates on your face everytime you get raped by transaction fees.
Eth waved the white flag in the 'merge' when it went from PoW to PoS, because it was not able to compete wtih bitcoin any longer. Next comes the surge, then the verge, then Vitalik purges and then Lubin splurges on all the remaining bagholders led astray by the charlatan roadmap

THERE IS NO SECOND BEST!

[Anonymous No.56101782]

>>56100605
im happy for you or sorry that it happened

[Anonymous No.56101784]

>>56101722
>First, what "resources"
lol (lmao) I love how I can tell exactly what mindless programming you have undergone by just 3 words
"le work and energy is embedded in the coins"
>did Joe Lubin & Vitalik proffer to have an unknowably large stake in the network
for this to be a problem, you're like 2 orders of magnitude away from what a reasonable assumption of their stake size could be
>DoS attack any unwitting 'Ethereans' on their hit list
"dos" attack? toppest of keks
>enjoy absorbing the 'non-dilutive' inflation of 'ultrasound' money
why the quotes? it is literally money by the same metric bitcoin is, only it has a monetary policy that doesn't shit on holders or overpay for security, therefore ultra".
>without lifting a finger
"le work and energy is embedded in the coin"
it literally doesn't matter if you have to setup a mining farm, stake or ride an electric bike, "proof of X" is literally just sybil resistance and coordination - and proof of stake is infinitely more efficient than pow (both monetarily and in terms of wastefulness)
>heat signature
top kek
BTC hashrate dumped 50% in a day when China cracked down on mining a few years back
>yfw bitcoin hashrate fell 50% when China shut down mining in 2018

[Anonymous No.56101852]

>>56101784
>"resources"
I was using your own words anon, so you must be projecting about your own "mindless programming" lel
So, how many coins does Lubin et al cartel stake? You will never know. And that is an existential security flaw for your little PoS shitchain
>"le work and energy is embedded in the coin"
I just don't trust Joe Lubin's face. I don't trust all that premining. I don't trust merge verge purge splurge roadmap OK! It's ultra-scammy
I like the fact that foreign adversaries ban miners, Ok! I love that we took all their gold in past wars lel. Let them give us the digital gold. I like the fact that hostile miners can be bombed to hell by heat seeking missiles. You need to get to the next level, this isn't Pokemon Go!

[Anonymous No.56101906]

>>56100757
>and all those long and painful periods where the line went up
>the hardest hours, at all time highs
Totally normal thoughts to have lmao. "Others are making money, the horror!". It's so weird. Winning for nocoiners means feeling "vindicated" and staying poor. Losing for them means being wrong as well as staying poor. Winning for "cryptobros" means retiring. So even if nocoiners win they still lose, I don't understand the smugness.

[Anonymous No.56102179]

>>56100605
he forgot something: miners have no power on bitcoin
as worst they can decide to not include specific transactions in their blocks but they will be included in a later block mined by someone else
he also forget about uasf
i takes time to understand bitcoin and I realize most critics don't understand it

[Anonymous No.56102224]

>>56102179
Shipcoiners are going to have to learn the hard way.

[Anonymous No.56102237]

>>56100684
These people are mentally ill

[Anonymous No.56102252]

>>56100648
I used to post there because I feel like you should always be laughing at yourself, *especially* when messing around with money like that. I actually did (and still do) hold a very small amount of bitcoin though.

[Anonymous No.56102376]

Ten years ago these guys were ignorant normalfaggots seething at crypto autists, now they're crypto-hating autists seething at ignorant shitcoin gamblers. And they could have made it.

[Anonymous No.56102417]

>>56101775
low quality bait

[Anonymous No.56103071]

>>56102224
>muh shitcoiners
>eth works exactly the same way
cant make it up

[Anonymous No.56104728]

>>56101157
Can I turn this into an NFT? I want to send this Bitcoin NFT to a bunch of my friend's wallets.

[Anonymous No.56104774]

>>56101157
>be me
>mines etherium in 2016-2017
>used it for drugs on the deep web
Fuck anons I’m ngmi