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shitcoins at 7500


sleepy
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Blockchain technology can certainly be used in a centralized environment (like internally in a bank or business) but the sheer size of transactional data that is necessary to process and validate global transactions is far too large to work efficiently in a decentralized environment.  Even if transactions are eventually processed as fast as a centralized credit card company, the blockchain becomes entirely too large in a short period of time.  A full BTC node is already over 160GB after 305 million transactions.  That's the equivalent of 2 DAYS of Visa transactions.  You can see how this quickly gets out of control.  Only full nodes have voting power.  So, with that massive amount of data storage required to run a full node and process transactions for mass consumption, that supposedly decentralized cryptocurrency eventually becomes extremely centralized.

 

Does this mean that blockchain technology is overhyped? May end up not being the gamechanger that everyone seems to say it is?

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  • 2 weeks later...

I'll go with neither as well. If it hits $200, it might as well be $0. Miners would be falling like dominoes well before it got to that point. The entire market would be imploding all the way through $200. That likely happens for most coins anyway, but BTC will be around for a long time yet. There's too much investment in the technology right now for it to go away completely without a fight.

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Yup, two years ago it was a hundred or two, why is it worth more now?

 

Sol Diablo, "Dad.  Check out this Ken Griffey Jr. rookie card.  It's gone up a bunch since I bought it."

 

Papa Diablo, "Son, just like anything, that card is only worth what someone is willing to pay for it. Not what that Beckett magazine says it's worth."

 

Conversation circa 1990ish.  

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Sol Diablo, "Dad.  Check out this Ken Griffey Jr. rookie card.  It's gone up a bunch since I bought it."

 

Papa Diablo, "Son, just like anything, that card is only worth what someone is willing to pay for it. Not what that Beckett magazine says it's worth."

 

Conversation circa 1990ish.  

I got boxes of cards that used to be worth something, now only in my dreams, I should just chuck the whole collection in the trash.

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Guest ConspiracyMuncher

but is the dip from 20k to 14k?  or from 14k to 9k?  or from 9k to 6k?

 

which dip do you buy and not get totally buried?

 

i hate buying the dip of an asset that has no floor, would rather buy on the way up

 

Mikey, I always said buy price was 8-6k... no more...

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