What They're Saying - The Bulldogs Media Thread - Part 3

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ScragCity

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Bitcoin and crime. Name a more iconic duo.
Fiat and crime. The crime (fraud in this case) was committed with regular money. The criminal tried (unsuccessfully) to hide his money in Bitcoin. The end of the article implies that the man is being compelled to release his encryption keys and his bitcoins will be seized.
 
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ScragCity

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"...$28.47 million worth of coins were located somewhere."

Possibly the most crypto currency thing ever said.
Really? One of the key features of blockchain is that every transaction exists on a public ledger. The article even goes on to admit that the bitcoins were eventually tracked down to an encrypted device.
 

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Norm De Guerre

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Really? One of the key features of blockchain is that every transaction exists on a public ledger. The article even goes on to admit that the bitcoins were eventually tracked down to an encrypted device.
Yes. I understand how crypto wallets work.

I also understand that the vast majority of crypto currencies are worthless pump and dump Ponzi schemes.

Im sure that you've invested in the ones that aren't tho...
 

ScragCity

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Yes. I understand how crypto wallets work.
Oh okay. It didn't sound like you did from that post.

I also understand that the vast majority of crypto currencies are worthless pump and dump Ponzi schemes.
Clearly. Which is a result of the current lack of regulation. It's not a valid criticism of the tech.

Im sure that you've invested in the ones that aren't tho...
Its just BTC in my portfolio. You know, just the best performing asset in history. Pretty successful ponzi.
 

TiAn_

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Enjoyed that video Bitcoin Magazine posted on twitter of a bloke buying a beer with it and it takes 10x as long for the payment to go through as a credit card.
 

ScragCity

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Enjoyed that video Bitcoin Magazine posted on twitter of a bloke buying a beer with it and it takes 10x as long for the payment to go through as a credit card.
So it took ten seconds instead of one second? Thats actually pretty impressive. Bitcoin transactions took like 10 minutes until very recently. Now try buying a beer by trading Gold for it and see how long that takes.
 

TiAn_

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So it took ten seconds instead of one second? Thats actually pretty impressive. Bitcoin transactions took like 10 minutes until very recently.
i'm not anti-crypto, I hold some, but imo its use case as a fiat replacement is pretty terrible atm. it's fine for what it is though.
 

ScragCity

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i'm not anti-crypto, I hold some, but imo its use case as a fiat replacement is pretty terrible atm. it's fine for what it is though.
If you want something that can be used for small day to day transactions then bitcoin will probably never be that. But it doesn't need to. It functions incredibly well as a store of value/inflation hedge/speculative asset. Its basically digital gold.

There are other cryptocurrencies with better tech for transacting. There are cryptos right now that use a different consensus mechanism and can handle 10,000 transactions per second with much more potential to scale if needed.
 

Norm De Guerre

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Oh okay. It didn't sound like you did from that post.
T'was a joke. The only thing surer to get a reaction from an investor in crypto currencies is to make a joke about Elon Musk.

Im sure the two groups are connected somehow...

Clearly. Which is a result of the current lack of regulation. It's not a valid criticism of the tech.
The tech is incredible, its just run way ahead of regulation.

Its just BTC in my portfolio. You know, just the best performing asset in history. Pretty successful ponzi.
I know you have BTC. You're who I targeted the joke at.
 

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Norm De Guerre

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What exactly does Musk have to do with crypto? Doesn't he own a battery company?
He probably has more influence on the value of crypto currency’s than any individual on the planet. The point is that crypto and musk advocates are quick to defend their chosen ones and don’t care for it when fun is poked at them.
 

perro_loco

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Oh okay. It didn't sound like you did from that post.



Clearly. Which is a result of the current lack of regulation. It's not a valid criticism of the tech.



Its just BTC in my portfolio. You know, just the best performing asset in history. Pretty successful ponzi.
Certainly it is. I often say that arguing with people who don’t understand the idea of crypto is like arguing with zombies. The crypto market is worth 3trillion and growing. Say what you like, but first try to understand what it is. Otherwise you will continue to miss out. My rant, no offence to anybody, go dogs and good night.
 

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