Bitcoin or any type of crypto is a scam.

>>509745882 (OP)
So what is the scam?

>>509745882 (OP)
>said the poorfag boomer who missed out and has zero sats and will forever be a seething wagie retard
lmao poorfags are hilarious

>>509746029
Put money in and it magically makes more

i've heard of plenty of bitcoin billionaires
how many billionaires can you name who got rich by selling bitcoin

why is it a scam i have never been down on my crypto investments ever all you need to do is sit there and do nothing. sucks to have adhd

>>509745882 (OP)
tell that to the guy moving tens of thousands of bitcoin around

>>509745882 (OP)
i made 300 quid on crypto, shame i couldn't have invested years ago, i could have retired

Lets say you bought a bitcoin for $5 when they first came out. Now the bitcoin is worth $20,000
Thats a scam. Someone is stealing money.

>>509745882 (OP)
USD is a scam. Jews control it

>>509746478
>what is supply and demand?
>what is fiat inflation?
kek what a moron, hey idiot what its like to be a dumb poor faggot?

>>509746624
How do you supply something that doesnt even exist?

>>509746127
>>509746624
Only third worlders type like this. Please go be brown on /biz/ with your fellow browncels.

>>509746146
You mean like US treasury bonds? Are those a scam?

>>509746726
the code exists on millions of harddrives and its decentralized all over the world.
also what its like to be a moron? is your life easier as an imbecile?

>>509746738
>memeflag nigger from india calling others brown
top kek, you poor brown subhuman.
show you streetshitter flag. lets see that garbage flag with the anus on it you jeet.

>>509746792
Code for what? What would a bitcoin be called if it wasn't a bitcoin?

>>509745882 (OP)
Yes it is. It's literally tulip mania in digital form. Eventually the people who get in last are gonna pay for it all. Wether thats in a year or 10 years who knows, but it won't be pretty.

>>509746146
Like the sp500 for the last decades?

>>509746918
the blockchain you braindead spastic

>>509746945
People like bitcoin. And it has survived a lot of shenanigans already.

>>509747026
You're just saying words what use does the block chain have in computing?

Hating xrp is brown coded...lol lol lmao

>>509746945
Bitcoin has no bottom because fiat has no ceiling.
BTC will continue to rise as long as fiat currency is shit.
so in 10 years its gonna be a million USD per BTC and you will still be here, a poorfag, repeating the dumb shit you post today.

>>509746918
its mathematics and logic, ok. just because you cant touch mathematics it doesnt mean it isnt real.

>>509747087
the ledger keeps track of all the wallets and transactions.
also are you brown? how did you even manage to post on /pol/ with this low IQ of yours?

Why are pictures of bitcoin or other shitcoin always represented with gold or silver?

>>509746029
It’s a Ponzi scheme.
Like all Ponzi schemes, the people that get in early make a fortune, When you run out of suckers, most investors will be left holding the bag.

>>509747174
Yeah but WHAT is it? Every other code has a use in the hard drive so what are you looking at when youre looking at a "bitcoin" its not just some random useless piece of code it has to come from SOMEWHERE why would computer programmers put some random code worth hundreds of thousands of dollars in a hard drive?

>>509747280
Bitcoin is digital Gold

>>509745882 (OP)
I came here to say this

>>509747307
people THIS retarded shouldnt be allowed here. holy shit what a retard

>>509745882 (OP)
Yes

>>509745882 (OP)
>>509746146
working is a scam
you produce 99% of the profits and only recieve 1%

>>509747345
you crypto fags are so fucking stupid

>>509747419
I dont see why you cant answer the question. Its a pretty simple question, what is a bitcoin and you're getting flustered lol

>>509747345
You're a fool. A useful idiot.

>>509747306
It already had multiple 90% drawdowns

>>509745882 (OP)
buy bitcoin if you'd like to retire some day.

>>509747419
>>509747307
Lmao do burgers really??!

>>509747545
>said the 3rd world poorfag retard that makes 100€ income per month
kek

>>509747307
Bitcoin is basically just a giant public finance ledger that can't be easily faked due to the all of the communal computers "mining" (doing transaction validation).
That's really it. That's the whole value offering. A difficult to fake ledger that is effectively international.

>>509747567
read the Bitcoin whitepaper, you can read, right?

>>509747172
You guys are cultists, look how angry you got lol. Have ye so little faith in your fake currency? Go on and keep buying.

>>509746029
jewish money magic

>>509747818
there is a fucking jew sitting in his yacht that holds 40-50% of bitcoins and fucking laughing from you retarded mongoloids for being retarded and buying imaginary things

>>509747982
I dont have to buy, I already bought in more than a decade ago.
thats why I'm retired and can call you a dumb nigger all day long.
why are you so poor and retarded? is there an explanation? did your parents drop you on your head as a baby every day?

>>509748065
so you are saying that rich jew is really invested and will do everything he can to keep BTC successfull, because if it died his wealth would be gone too.
nice.

>>509747905
No I want you to explain it im talking to you not reading papers. Idk why you zoomers cant have actual conversations

Banks are buying gold at record amounts

You are buying digital bleep bloops

I wonder who will win and become wealthy in the end

>>509748342
they created it and shilled in media to lure morons like you in, just like every other ponzi and you will lose and a jew will win and laugh at you again

one singular BTC = $108,000 USD
digital gold.

>>509748065
90% of coins are held by 1% of wallets. Wouldn't take much to dump when they are ready to rug pull. This is easy to verify, on something that was sold as untraceable, anonymous etc lol

>>509748434
why bother having such a complex conversation with an obvious illiterate low double digit IQ moron?
you couldnt figure it out on your own and now you are still a poorfag. many such cases.

>>509748568
these damn jews, they made me rich af and now I dont have to be a wagecuck anymore.
how could these evil jews do this to me?

>>509746146
Works on the same principal as gold. However, it's scarcer.

>>509746192
Miners and exchanges.

>>509748082
Why are you so angry. You don't have to justify your life decisions to me.

>>509746792
To be fair, the blockchain only matters when stored by miners, as they're the only ones who add blocks and secure the network rules. Everyone else is a "listening node" and just think they're helping. They aren't doing shit.

you know how your first lesson of economy is usually along the lines of claiming that an economy is based on 'trust'.

you don't have to be a rocketscientist to know this trust has been overabused the last century with inflation running out of control. basically since the creation of fractional reserve systems.

gold used to be a pretty good long term holder of value, but with all the paper gold that has no real backing, and unpure real gold on the market, where people need to do experiments to verify their purchased gold only to find out it's fake/unpure, this is also quickly falling in the 'abuse of trust' category. if you want to exchange your gold for goods, prepare to get scammed again, or robbed on your way over. or far more likely, your government confiscates it at the moment of need.

then we have the us dollar, which basically has put a gun to every countries head, saying you either use me or we're going to have a problem. qaddafi and sadam hussein are prime examples.

so there is a trust issue with today's system. inflation for fiat, inpurity for precious metals.

bitcoin has solved this issue. do some research. buy some bitcoin.

>>509748772
Everybody in this thread is calling YOU a retard

>>509748920
why are you so retarded?
>>509749023
nigger anyone can download the Bitcoin blockchain

>>509749154
low IQ poorfags are seething, nothing new under the sun.

>>509749218
You just aren't very good at communicating. You're also very emotional and womanly, and people pick up on that in conversations

>>509748485
Fwiw banks are buying crypto at massive amounts as well, and several are currently creating their own crypto stable coins.

Satoshi Nakamoto translates to central intelligence

Buy some central intelligence ones and zeros anon.

>>509749175
I didn't say they couldn't. Simply having an updated ledger doesn't secure the network. The network is secured by Proof of Work.

>>509749416
Lets say the CIA created Bitcoin. How does that fundamentally undermine the technology and how it functions as a commodity?

NIGGERS

>>509747307
not being able to comprehend abstract ideas is a sign of low IQ, anon

>>509749312
there is no point in communicating something as complex as Bitcoin with what is basically a down syndrome retard (You).

>>509749067
Is this why many states are passing legislation to make silver and gold legal tender? Wouldn't paper contracts in place of physical make it's MORE valuable. 150 people think they all own one Oz of gold when really it's only one. Gold is easy to verify if it's bullion. Hell people scratch off flakes in Venezuela to pay for groceries.

>>509749349
Zero banks are. Etf are an extension. They don't own anything. Prove to me banks are buying bitcoin.

>>509749513
>technology
The problem with bitcoin is it has no use you cant do anything with it. Gold at least has some industrial and culinary and engineering or artistic etc uses outside of it just being aesthetically pleasing to hold and look at. Bitcoin is 100k and has no use you cant do anything with it

>>509749419
>The network is secured by Proof of Work.
proof of work is basically just spam protection, its actually the cryptography that secures the network. thats why its called a "cryptocurrency".

>>509745882 (OP)
This is absolutely true, but it is different from most scams you are thinking off in that its not the usual suspects who benefit from it.

>>509749830
>you cant do anything with it
you can do everything with it and you can take it with you anywhere on the planet.

>>509749752
See you cant even talk without cursing and name calling like a mutt and you wonder why everybody is calling you a retard. You lack very basic skills and everybody knows you have no idea what you're talking about.

>>509749929

>>509749932
everything was already explained to you, you are just too dumb to get it.

>>509750086
You're boring and terrible at conversations. You need to go outside and work on your people skills if you cant even handle a simple thread about an interesting topic.

>>509746726
They also sell .0000001 of a bitcoin, bitcoin is not scarce or rare or limited when it can be split infinitely.

>>509749811
>Gold is easy to verify if it's bullion. Hell people scratch off flakes in Venezuela to pay for groceries.

Cumbersome and hard to verify. With Bitcoin you simply ask for x amount of Bitcoin and receive x amount of Bitcoin. No need to check the chemical composition and weight.

The problem Bitcoin has is that it's been prevented from scaling. There is a whole conspiracy surrounding that, but essentially all they need to do is raise the blocksize. Unfortunately, it might not ever happen.

So, while Bitcoin is potentially great and solves a lot of problems, the powers that be have injected a bunch of problems into Bitcoin so it instead relies on the same banking institutions it was designed to undermine for general usage.

That all being said, buy some. It's if nothing else a commodity.

>>509750231
nobody is interested in talking to a retard about some obvious shit anyone can figure out in 2 minutes of google, thats why I wont bother explaining anything to you.
it would be a waste of time to spoonfeed a moron like you.
you can cope and seethe all you want but you are dumb as shit. this is proven fact.

>>509750233
>if I cut 1 pizza in half I have 2 pizzas
another moronic mouthbreather enters the thread

>>509750275
>for general usage
do you also complain you cant pay with a gold bar for a cup of coffee?

>>509750439
why don't you create bitcoin 2.0 or 3.0 and own majority and profit even more? You can call it better bitcoin, imagine how richer you can be, why don't you do that instead of buying other people coin for 100k a piece?

>>509745882 (OP)
Yeah the last 5 years the fed and ccp has been running majority of pump and dumps

>>509750659
>3rd worlder has never heard of the network effect and first mover advantage
damn nigger how do you even manage to survive with an IQ THIS low?
you make the average jeet look like einstein.

>>509749830
The ledger can be used for any number of things. The ETFs that were launched for Bitcoin should have for all intents and purposes never existed because ETFs should be launched ontop of Bitcoin. Essentially any data can be backed up or pegged to a blockchain.

>>509749844
The cryptography prevents brute forcing of the ledger. To add transactions to the blockchain requires solving complex hashpuzzles that when found by a miner are verified by the other miners and validated or rejected. Running a raspberry pi does none of that.

If you are running a listening node, you can detect when a miner is cheating, but you can't do anything about it. Only the miners have the ability to prevent a cheater from adding their block to the blockchain. The best you can do with a listening node if you catch a cheater is not update your copy of the blockchain. Meanwhile if the cheater block is accepted by the network of miners (it wouldn't be, but for sake of argument) that network is where all new transactions will occur and your copy of the blockchain that stopped once the cheat began will be out of sync and never update.

>>509750370
If you ask anybody who actually knows what they are talking about they dont say "Google it" youre a kid though and lack the life experience to know that. Thats why youre huffing and puffing and whining about actually being asked a question about something youre APPARENTLY interested in. Im sure you have no problem engaging in conversations in any of the 100 tranny threads on this board kek.

>>509745882 (OP)
Because you don't understand it? Because you haven't found any personal uses of it so far?

>>509750659
been done hundreds of times. It takes ten minutes to duplicate bitcoin but it is hard to get enough computers for proof of work. One bitcoin duplicate that you may have heard about is doge.

Most of the time you leverage one of the existing crypto networks to generate a meme coin that leverages the existing network, these are the ones you hear about getting rug pulled the most.

>>509750539
No, but when I have peer to peer electronic cash and can't use it as designed, I do.

>>509745882 (OP)
it's not quant-resistant, so if google decided to finally mass produce ones in 2weeks, yor portfolio will vanish.
its market cap is already at its peak i believe, with other emerging technologies offering more perks.
honestly worth thing about it, is much like stocks, you can't really predict anything

>>509750275
There are security features on most modern bullion. Hard to fake and they stand out. Maybe to someone who has never looked at gold before, but anyone taking a few moments to look it over would be able to spot fakes. It's also not as common as you'd think. There's are a few other simple tests that anyone can do on the spot of you're unsure (magnet, ping test, calipers).

For what it's worth I bought btc in 2019 and sold a little early (before the etfs) but the writing is on the wall financially for all those to see and that's why I sold. All the selling points for btc are now moot. The only thing it has going for it is it's now easy for anyone to adopt and it's easy to move around. Bitcoin is taking capital that would have fled into precious metals. It does nothing to harm the financial system, unlike investing in precious metals. The rug pull will come, I just don't know when. I was happy with my gains and turned all of it into something that can never be taken away from me unless I lose the gunfight, precious metals.

>>509750827
>To add transactions to the blockchain requires solving complex hashpuzzles
yes, spam protection, thats what I said my illiterate friend.
if there was no proof of work anyone could run the software and could 51% attack it by spamming miners. so PoW =spam protection. get it now?

>>509745882 (OP)
no it isnt.

>>509750909
I dont have an issue discussing bitcoin, just not with you because you are obviously mentally handicapped.
it be like trying to explain a jeet how to shit into a toilet, he would never figure it out.

>>509750965
>peer to peer electronic gold
FTFY

>>509750973
>its market cap is already at its peak i believe
you believe wrong. Bitcoin is being pumped by stablecoin derivative leveraging, the most massive ponzi scheme of our time and it will continue getting pumped and dumped for as long as the stablecoin owners want

HOLD STILL WHILE I STAB YOU WITH MY GOLDBAR

>>509750275
about the scaling issue, this has been solved.
there used to be discussion about raising the blocksize, but doing so would ultimately result in only datacenters being able to run the blockchain. this is not something you want at all, because those datacenters are easy to target by governments. instead you want people with potato computers to be able to run the blockchain, as it is now.

the scaling has been solved with the 2nd layer that is 'on top' of bitcoin, called lightning. this layer is potentially capable of running millions of transaction per second in so called channels. at any point the channel can be closed and the difference in begin and endpoint will be consolidated on the 1st bitcoin layer.

most of this scaling issue was done by people that are always claiming that bitcoin should be used as daily currency 1st, this is simply not feasible or realistic. countries won't give up their currency, bitcoin has a static amount which doesn't work in an a world where productivity increases and inflation is deemed normal.

bitcoin is a store of value, the best store of value the world has ever seen.

>Speculation

Haram.

Muslims invest in real, tangible things.

Land, businesses, mosques, madrasas.

Vehicles, arms, ammunition, Jihad.

>>509751203
The way it works is that Bitcoin will become the defactor standard, and currency will be based off it instead. So people wil say "this is work 100 satoshi". It's better if this is done with physical metal rather than paper, as physical metal is harder to fake and will act as the second layer in the public square.

>>509750991
>It does nothing to harm the financial system
If it scaled it would be a much bigger threat. Bitcoin is in a gilded cage. Because it requires banking to be useful to most people it allows the banking system as we know it to continue as they can issue "paper bitcoin" and any "layer 2" system you might have heard of is essentially the same IOU system found with gold.

>>509751008
Proof of Work isn't spam protection. Transaction fees are spam protection. If PoW was spam protection, then users would be required to contribute PoW to prevent spam.

PoW is the mechanism used to award and reject blocks.

>>509751118
What is the title of the White Paper?

>>509750439
What a stupid analogy, You don’t need an analogy for what bitcoin is sold for cause I just told you that you infinitely keep fractioning it. Rarely are whole bitcoins being traded by someone. It will be split over and over forever or until it is rug pulled to 0.

>>509751153
>Bitcoin is being pumped by stablecoin derivative leveraging,
that's exactly what i'm talking about. you need research papers and use 3-word finance jargon to explain what's going on. your average joe, just can't fathom, so for most, it's simply gambling.

>>509751203
>but doing so would ultimately result in only datacenters being able to run the blockchain

That's how Bitcoin operates now.

>the scaling has been solved with the 2nd layer
Layer 2 is a ledger that is off the blockchain. It follows none of the rules. Paypal is a layer 2.

>most of this scaling issue was done by people that are always claiming that bitcoin should be used as daily currency
Satoshi Nakamoto?

>>509745882 (OP)
For me, its Rising Star NFT's.

>>509751072
Youre boring and keep repeating yourself over and over. Its annoying kys

>>509746478
>Someone is stealing money.
Yes. The jews at the FED

The brainwash of hating bitcoin is only caused by the same brainwash that has people ignore the federal reserve.

>>509749811
If ETFs don't count then paper gold doesn't count either, fggt
Fuck even their cash doesn't count. If they even have any, since banks aren't required to have any cash reserves at all since COVID.

>>509745882 (OP)
Well yeah, but that doesn't mean you can't make money off it.

>>509751616
>Proof of Work isn't spam protection.
it literally is, thats what prevents 51% attacks. its called a "sybil control mechanism" for a reason.
>What is the title of the White Paper?
Satoshi was wrong about that. actually he was wrong about multiple things.

>>509751641
thats not how that works brainlet.
better leave the thinking to people with functioning brains.

>>509752059
you are a seething poorfag subhuman, you should kill yourself because this will never change lmao

You idiot. Tulip bulbs are down right now but just hodl. They going to the moon! You just don't understand their use case!

>>509747306
The thing is we're in this state where for the big coins there will always be more people buying in trying to try to get rich.
Stay calm. Buy low, sell high, just like any stock. So what if it's not actually connected to any product or service? As long as people keep buying in, and as long as governments don't crack down, it'll keep going along.

>>509752962
You talk like a mutt cant say 2 words without cussing and having a panic attack

>>509753846
why wouldnt I insult a retarded subhuman like you?

>>509752930
>thats what prevents 51% attacks

A 51% attack has nothing to do spam.

>satoshi was wrong
According to who and how?

>>509751970
I also bought a bunch of those and now I am rich

>>509754511
>A 51% attack has nothing to do spam.
goddamnit nigger you are so fuckinng dumb. unbelievable.

>>509754816
Wow everyone else is sure stupid for not getting in on this now.

>>509754861
Yes I will go buy 1000 now right away

>>509748630
The german-poo nigger in this thread will never reply to what you just said.

>>509754907
I'm glad I could make a free account on the hive blockchain because I was poor before this but not anymore

>>509754974
Yes sir the hive blockchain is great and has helped many build wealth in a safe and reasonable manner

>>509754924
>hurr durr the 1%ers will dump it to zero so they arent 1%ers anymore
yeah no, richfags dont want to be poorfags like you.

>>509754826
Do yourself a favor and look up 51% attack. Maybe you can stop making a fool of yourself before its too late. I won't hold my breath though.

>>509755192
Do yourself a favor and look up what a sybil control mechanism is.
Maybe you can stop making a fool of yourself before its too late. I won't hold my breath though. dumb ass nigger.

>>509745882 (OP)
>Bitcoin or any type of crypto is a scam.
that's because you don't understand the differences between bitcoin and other types of crypto.

>>509755057
I have everything I need you can keep your virtual bags of jewish poo.
90% of bitcoins are held by less than 2% of the wallet addresses and that's WORLDWIDE, imagine the amount of shitskins and foreign entities holding this shit right now lol

>>509755860
>I have everything
no you dont, you are a poorfag wagecuck subhuman whos coping and seething.

>>509755391
A sybil isn't spam, you goddamn ape.

Sybil attacks undermine consensus. Spam attacks flood a mempool.

>>509748082
you are a liar. you still have all your bitcoins and you will keep them because you are greedy and you huntingpe that will rise up and you will have more money.
but you do not have because you have not convert them.
you will never do it.
and you can not even if you want it.
and one day you will open up your pc and you will find out that bitcoin is worth 0

>>509746251
Its not really a scam. Its a purely speculative investment that can one day drop to zero. Nothing wrong with that if you know that. The problem is all the people saying there is no risk and that it will go up forever.

They are scamming themselves. Also known as retardation.

>>509755990
how come so many mutts are illiterate?
see >>509749844
>proof of work is basically just spam protection
>"A Sybil attack is when one person or entity creates many fake identities (called "Sybil nodes") to gain an unfair advantage — like manipulating votes, overwhelming a network, or pretending to be many users."
>Common types: Proof of Work (PoW), Proof of Stake (PoS)
retard nigger

>>509756112
>but you do not have because you have not convert them.
why would I convert my Bitcoins into an inflating failing currency like the USD or the Euro?
as long as fiat is unlimited shit my BTC has no ceiling and will continue to go up.
its very simple you jeet.
>and you can not even if you want it.
BTC has a daily volume of 40 billion dollars you dumb streetshitter.
I can literally exchange it into anything I want.
>and one day you will open up your pc and you will find out that bitcoin is worth 0
it is more likely that subhumans in india start to use toilets and clean up their trash.

>>509746495
(They) control shitcoins as well. Len “rabbi” Sassaman is in all probability the creator

>>509745882 (OP)
i really despise you smug redditors trying to keep the chuds here poor.
have fun staying broke.

>>509749513
https://m.youtube.com/watch?v=nybVFJVXbww&pp=0gcJCfwAo7VqN5tD

Reduces confidance of foreign adversaries in koblitz

>>509751616
Pow was invented trying to combat email spam

>>509756377
>proof of work is basically just spam protection
Your nigger brained definition.

>"A Sybil attack is when one person or entity creates many fake identities (called "Sybil nodes") to gain an unfair advantage — like manipulating votes, overwhelming a network, or pretending to be many users." Common types: Proof of Work (PoW), Proof of Stake (PoS)
>spam: zero results
>https://en.wikipedia.org/wiki/Sybil_attack
>https://www.imperva.com/learn/application-security/sybil-attack/
>https://www.twingate.com/blog/glossary/sybil%20attack
>spam: zero results

>A spam attack involves flooding the network with large numbers of small or junk transactions to: Clog up block space. Drive up fees. Slow down legitimate transactions.
>sybil: zero results
>https://www.panewslab.com/en/articles/adnnp0qd6438
>https://blockchain.news/flashnews/bitcoin-network-spam-concerns-rise-as-core-developers-and-mining-pools-allegedly-collude-over-datacarriersize-key-trading-insights?
>https://www.malwarebytes.com/spam?cjdata=MXxOfDB8WXww&c=cj&k=15734534&utm_source=cj
>sybil: zero results

You're a goddamn retard.

>>509757165
cope

>>509756588
>37 posts
>still hasn’t posted his portfolio
let me guess you bought at $105,000

>>509757414
>please dox your wallets on 4chan
lmao

>>509757146
That works differently than Bitcoin. That required users to contribute hash to an email. In Bitcoin users are required to pay a fee. The reason it never caught on is because the mechanism could still easily be botted, didn't have consensus and no monetary reward for compute. Whereas Bitcoin provides monetary reward for compute and the only way to 51% the network is to have more compute than the remaining participants on the network. Not by spamming the mempool.

>>509757490
so how rich are you? say a number

>>509747172
It’s all the crypto maximalist who know for absolute certainty it’ll keep going up, but don’t go all in. They also like to mention how much their bitcoin is worth in terms of fiat which should be irrelevant if fiat was a shit currency to hold. Good luck trying to buy goods and services directly in BTC. You’ll have to exchange it for euros eventually.

>>509757372
>sycophantic chatbot tells you think of a sybil control mechanism as a form of spam protection
>reads this as sybil and spam being the same thing

Absolute state.

Ask it what a spam attack is.

>>509757867
none of your business you poor shitskin
>>509757884
>more copes

>>509757934
>nigger is dumber than ChatGPT and didnt know what a sybil control mechanism is now copes and seethes
lmao

>>509758009
okay then, God bless you

>>509758009
Okay then, retard. Ask GPT what a spam attack is in Bitcoin.

>>509758215
ask chatGPT what a sybil control mechanism is and how it relates to PoW.
can you do that or is that too difficult for an illiterate shitskin?

boomers, (((central bankers))) and no-coiners have been SEETHING for 16 years and Bitcoin continues to go up

TOTAL BITCOINER VICTORY

>>509751203
Lightning network is not properly scalable and has many limitations that cripple its usability, there are many resources online that talk about why its shit so I won’t dwell to much on it here.
Increasing blocksize to 8mb would allow everyone but the poorest and most remote folks to host a node
The network size would only be ~20tb in 50 years with 8mb blocks, currently a 20tb harddrive is 200-300 dollars. 20tb of storage will be far cheaper in even a decade or two.
Sure the bandwidth would be 8x higher however this isn’t a major issue as this would only require a maximum of 100 Mbps upload connection which most people will have outside of remote areas
Anyone with very slow connections such as dial-up can’t host a node even the current 1 mb blocks anyway. Again, as time goes on the internet and technology will improve.
The bitcoin network has about 15 years (until about 2040) to upgrade to a larger blocksize before the network fees become too high to be usable for all but the richest people. This is if Bitcoin achieves widespread adoption and assumes the block rewards stay on their halving schedules. (They should, forking this out is retarded)
Opening a channel on lighting requires L1 fees to be paid, so this doesn’t work to get around the possibility of high fees.
Bitcoin is probably the answer to the western world’s currency debasement, but it’s not perfect and unless more people recognize its problems it’s doomed.

>>509758372
I've already given you six links defining each one, niggergolem. I know you won't ask gpt what a spam attack in Bitcoin is because it'll tell you it relates to transactions flooding a mempool, not a 51% attack as you stated.

>>509758376
>boomers
even boomers are bending their knees by investing into BTC ETFs.
>(((central bankers)))
even central bankers are looking into holding BTC reserves now.
they stopped fighting it.
>and no-coiners
these are the only ones seething, these poor retards just cant deal with Bitcoin and crypto, they missed out and they will never ever make it.
thats the source of their butthurt, just look at this thread filled with these morons.
hilarious.

>>509758493
Lightning network is also a massive cope bandaid

>>509758493
>Increasing blocksize to 8mb would allow everyone but the poorest and most remote folks to host a node

None of which matters anyway because only mining nodes enforce rules and create new blocks. Listening nodes are completely irrelevant.

The entire blocksize debacle is the single most damaging thing that has happened to Bitcoin.

>>509758577
maybe one day you can figure out how to read, unlikely tho as its obvious you have some sort of retardation going on.

>>509758493
lightning is the way to go though.
right now the blocksize is ~2mb, lets say 4000 transaction per block every 10 minutes, that's 6-7 transaction per second. 8mb would make that 28 per second, way too little for it to be used as a currency. lighting would make it millions per second if necessary. even if lighting won't be the final solution, pressing bitcoin base layer to increase in transactions is never feasible. there has to be a linked layer that can do transactions without being in the main ledger until necessary. lighting seems to be the one closest to it.

>>509745882 (OP)
Real money is a scam too little nigger
But I dare you to live without it

>>509758680
>even central bankers are looking into holding BTC reserves now
only in America, certainly not in Europe. (((Lagarde))) has called Bitcoin multiple times a speculative fraud. She's scared shitless of it

>>509758753
Just ask the chatbot, retard. jfc

>>509758867
Offchain transactions defeat the point of using a blockchain in the first place. "layer 2" as a scaling method for the network is an attack on the network.

>>509746146
Shalom!

>>509758947
>certainly not in Europe
they are literally laying the legal groundwork for this now.
>((Lagarde))) has called Bitcoin multiple times a speculative fraud
that jew is just spreading FUD, they do this all the time. they dont want poorfags to get rich so they scare them off.

>>509759019
>Just ask the chatbot
I did see >>509757372
so cope more you illiterate shitskin.

Sidelined nigger faggot

>>509759287
>so it's basically spam protection
>you can think of it that way

I what Turksroaches out of Germany so fucking bad its unreal.

Better puff Up dat ahoohtoautism while amasontookashit in your Soul. Thanks for trusting in satoshinakamoto

S A A
A H M
T O A
O O S
S K O
H T N
I O T
N S O
A A O
K T K
A A A
M N S
O I H
T S I
O M T

>>509745882 (OP)
nice bait, I'll bite. encrypted email is a scam, too then.

>>509759566
>I what Turksroaches out of Germany so fucking bad its unreal.
same but what has that to do with you being an illiterate retard who doesnt know what a sybil control mechanism is?
to me you are dumber than a turk, you are about on the same level as a streetshitting jeet.

>>509759944
>multiple linked definitions and screenshots displaying the correct definitions that say sybil attacks and spam attacks are different vectors
>we got here because the nigger golem first insisted a spam attack is a 51% attack
>51% attack isn't even the same vector as a sybil

But hey, the chatbot told you you could think of it that way.

>>509760673
>nigger retard doubles down giving more proof he cant read
damn nigger you are so fucking retarded holy shit

>>509758867
Blocksize is 1 MB, not 2. I mention it as it’s multiples
8 MB blocks would increase the max tps from 7 to 50-60
While yes, this wouldn’t do very much to make the L1 network optimized for something like buying coffee, what it could do is make the lightning network a decent choice in the future, especially when it comes to the fees in the future for opening a channel
It’ll also allow for L1 bitcoin to continue to be a viable alternate to bank wire transfers/sending larger amounts of money long distances. If it eventually becomes more expensive for someone to send bitcoin through the network than it is to send a wire transfer (if you’re sending money legally/don’t prioritize privacy) then they may go with the latter
I mention 8 MB blocks specifically instead of >32 MB (this would basically remove L1 limitations which is what BCH did) because if the blocks are that big only data centers will be able to host them (at least currently) however 8mb removes enough overhead for the network to survive 10-15 years out

>>509752876
Correct.

Thats why I said physical is best

>>509760850
There is effectively no difference between storing your Bitcoin on Coinbase and using their credit card to using a layer 2.

In both cases the funds are managed offchain and when you withdrawal to a private wallet they do an onchain transaction. L2 development is a dead end and solves nothing.

>>509745882 (OP)
Dude, you just don't understand! It's just securities and tax fraud mixed with money laundering. It's totally legit!

Reminder banks are buying physical metals while you dorks gooble gobble over a central intelligence shitcoin.

>>509745882 (OP)
I've already made money off of it 3 times
When it goes to a million I'll be retiring.
Pic related

>>509761944
This is my other gripe with L2s such as lightning but I have no idea how this would be solved. Even if you stick to L1 when you onboard to a software/hardware wallet you need to purchase tokens through a cex like coinbase, which is through credit/debit and/or bank so they know who you are and how much you purchased even when you move all your coins off cex. You could try to purchase bitcoin off someone with cash through a QR code/USB they give you but that point you’re probably better off with gold
If you want to entirely remove the need for L2 on Bitcoin you’d need to make the L1 blocksize far larger than 8 MB which makes it more centralized and that still doesn’t solve the cex issue with all their kyc bullshit

>>509747306
So if it's like a Ponzi scheme who is controlling the accounting of the business that BTC buyers are investing in and is using new investors money to falsify sales records?
You clearly have no fucking idea what a Ponzi scheme is, and are likely a no-coins.

People of /pol/ if you have $5000 invest it in BTC today, in ten year it will be worth more than any other investment you might have made. I've been telling people to invest for more than 15 years.

>>509763884
Honestly I’d wait until next year to invest, btc is known for its bear markets
/biz/tards say we bottom around 40-50k in the next bear id buy there if given the chance. I doubt we are going to have a supercycle this year
Btc will definitely be 1m within 15 years though if the printing continues

>>509763430
The blocksize cap was only put into place because at the time Bitcoin had no monetary value. So, spamming the network with transactions cost nothing to the spammer, but cost the miners storage and bandwidth. Obviously, now Bitcoin has plenty of monetary value. Modern mining operations are professional datacenters. They can easily handle 200GB every 10 mins. Or 600+ million transactions every 10 mins. If every transaction was paying half a penny fee, the reward from fees alone would be over three million dollars.

>>509764441
Just DCA. Don't try and time the market. Buy extra on dips if you feel like it.