/liberty/ - Liberty

>JUST PRINT MORE LOL

don't you worry fellow libertariananians

bitcoin is gonna take over the global financial system any time now

>>83395

>HURR ITS DA JOOS!

nice try porky

>>83399

We're not hoping for it. Only normies went for the bitcoin meme.

>>83400

But it is.

>>83411

>currency not controlled by any central bank, which also exists in a limited amount so you can't just print more of it

>"normie bitcoin meme"

Speak for yourself.

>>83414

>Currency that is irreversibly lost if owner dies, but stands in the system.

>Currency that literally becomes harder to get when time passes, so it inevitably becomes not profitable and disappears.

Go learn how it works at least, you are making a mess.

>>83417

lol that's your best argument? At that rate it would take hundreds of years for the currency to become completely worthless and when it does, people will just mine some more.

>>83411

At risk of sounding contrarian, one appealing thing about cryptocurrency is that all the right people hate it. Krugman in particular will take every chance he gets to kvetch about it, and the other normie Keynesians are insisting that it will become worthless any day now. And yes, it crashed in price, but it's been climbing since then.

>>83427

>it would take hundreds of years for the currency to become completely worthless

It becomes worthless as ling as no one uses it, even if there still are bitcoins in the system.

Bitcoin is not designed to be stable through time, as the reward for the same work (block reward, if you know what i'm talking about and not being a fanboy) is halved as time goes by, so it is less sustainable to do the mining => keeping the thing going. Here: http://www.bitcoinblockhalf.com/ today bitcoin mining is already unsustainable on non-specialized equipment, and it will only get even worse. Maybe it will survive next halving, maybe two, but we are not talking about "hundreds of years". Here is my argument, though maybe not the best one. I tried.

>>83430

Computational power also gets cheaper as time goes by, too. So even if it's unsustainable now, it may not be a year from now.

>>83431

Still, processors will not get much smaller, as silicon starts doing weird stuff on so small levels, so unless quantum computing or optical processing comes to civilian/personal use or becomes affordable it will fall. Also, computational power still requires electricity which alone might make it unsustainable even without investment. This all applies only if quantum computing does not break mining, as i've heard it could outperform our usual stuff so much that it can be matched only by another quantum computer. I did not save the sources, but you can google it, and youtube has plenty of videos on these subjects iirc.

>>83431

Also, no computational equipment can match geometric progression of bitcoin halving. Well, not unless the singularity is reached.

>>83431

>So even if it's unsustainable now, it may not be a year from now.

Moore's law won't save bitcoin

cheap fossil fuels won't save bitcoin

oh, you're so fucked ahaha

have fun downloading a 30GB and growing blockchain

<ib4 b-but m-muh lightweight nodes!!

HAHAHAAHAH

>>83438

Daily reminder to ignore this retard as well as all other commie posters.