Erik Voorhees: “Roger – please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn’t. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.”

Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.” submitted by /u/eragmus
[link] [comments]

Bitcoin – The Currency of the Internet

Nick Szabo retweeted: “⚠️ If you are new to #bitcoin then please be aware that bitcoin .com is a fraudulent website. ⚠️ This website is run by Roger Ver who is a known serial scammer. ⚠️ The current main scam is the promotion of #bcash which is a fake version of bitcoin.”

Nick Szabo retweeted: "⚠️ If you are new to #bitcoin then please be aware that bitcoin .com is a fraudulent website. ⚠️ This website is run by Roger Ver who is a known serial scammer. ⚠️ The current main scam is the promotion of #bcash which is a fake version of bitcoin." submitted by /u/edlund10
[link] [comments]

Bitcoin – The Currency of the Internet

My friend invested 200K at 18500$ – take a chill pill, read my points and please contribute/upvote

He is very wealthy, and doesn’t lose sleep at night due to the recent “crash”. It is a 10 year+ bet. He is relaxed and actually buying more now.

Lesson: invest what you can afford to lose. Think long term.

This might be seen as a shit post but it gets on my nerve seeing all the people panicking and complaining in this sub.

BTC has the potential of becoming a competitor to gold, which has a 8T$ market cap. No, it’s not guaranteed – but it has a true chance. Guess what, the world is becoming more and more digital and BTC is until now apart of that revolution and obviously has the potential to continue doing so.

Relax and think long term.

In 2020 another halving is coming and all coins (21M) will be in circulation by 2140 approximately. Well all be dead by 2140…..

Some important factors that theoretically could affect the space: – stock prices are at an ATH. Market is over bought and inflated. If the stock market crashes money surely will go in to crypto. Some people disagree on this, but only time can tell. – a lot of countries around the world are at political and economical unrest. – the US has 21T$ in debt, not sustainable. This will implode at some point. – China has recently started to purchase oil with Yuan instead of dollars. This will affect the dollar in the longer term as dollars will be removed from the market. – the EU is fucked, brexit – and most likely more countries will follow and exit during the next decade.

In the past I’ve seen a lot of post about people saying that BTC is to expensive and that the whales are manipulating the market etc. Yes they are, as they do in all markets. As soon as BTC becomes more liquid it will be way less volatile. But we won’t see that before 1-2T$ +

Mining expenses are going one way, up – they have grown exponentially since the very beginning. If someone reinvents the wheel, yes, they might make a huge mining profit short term. But after some months other companies will be creating similar chips and hash rate will sky-rocket: hence, mining profits go down and miners won’t sell before break even or threat of bankruptcy.

After the next halving in 2020 a total of 328125BTC will be added to the market per year, that’s a total of approx 27K per month.

In 2024 a total of 164 062BTC will be added to the market, a total of 13.6K per month.

2028 a total of 6.8K per month.

2032 a total of 3.4K per month.

Do the math, use your logic.

And on my last note, Switzerland is the crypto place to be. The whole government is supportive of bitcoin and Blockchain. Their national bank had a profit of 55$ B in 2017. Don’t think their buying BTC behind the scenes? Think again! Would they be stupid enough to announce it, of course not.

Hold and relax, wether it’s real estate, BTC, valuable art, your wife, pension fund. Aim for a good life now and aim for a comfortable life when you get older, be smart!

All the best!

submitted by /u/bitcoinbjorn
[link] [comments]
Bitcoin – The Currency of the Internet

To all the people disappointed with their investment (in bitcoin) performance. Please do as a favor, cut your losses short and spare us the nagging about bubbles and all the negatives you clearly see now (but couldn’t see when the price was going up)

For the ones that are thinking to invest now please take Andreas Antonopoulos advice and invest in it as much as you understand it. If you feel that you understand 5% invest 5% but more importantly if you understand 0% invest 0% and no, "Block-chain is this new technology that will change the world" does not count as understanding. Take your money and put them somewhere that you feel comfortable with. The problem with all the recent FUD and negativity lies with the fact that 90% of the people in crypto are mostly people who "invested" at the end of 2017, and 99% of them the only reason they had in doing so was the price. When the only reason you have when you buy something is the belief that you are going to sell it for more guess what happens when the price drops. You are left with no reasons. No reasons to be in it. When your money are into something for no reason you panic, you loose your sleep, you get angry, you discover all the reasons why you shouldn't have invested in it. Please do your self a favor and educate yourself's. Try to understand and if you want to HODL do it for a reason other than the price. I am heavily invested and I sleep like a baby. And if I loose everything is going to be because of something I didn't see happening before it happened (and nothing of the sort has happened yet). Not something that I wish I knew (and I could have known) before I invested. In fact "investing" is not even the right word to use. "Backing up" the technology is…If you are here for the money please leave. If you are here because of the way the future can unfold (outside the potential coin price increase) then enjoy the ride. What I see now (all the work, the ideas, the ongoing development) if you take out the price visibility is so positive that I wonder where do the people find the FUD? If you can not then stick with the bloomberg, the FT and the CNBC articles that you so much like. They all have one common characteristic. All of them fail to accept that the current technology is continuously developing and what is today is going to be much better in a year. If you can not relate to what I am saying have a look at that article about why iphone will fail from 2006:

https://www.theregister.co.uk/2006/12/23/iphone_will_fail/

and that one on why internet will fail from 1995:

https://thenextweb.com/shareables/2010/02/27/newsweek-1995-buy-books-newspapers-straight-intenet-uh/

If you are already in…you have a chance to educate yourselfs even late and NOT be the guys who wrote these articles.

submitted by /u/totopsgr
[link] [comments]
Bitcoin – The Currency of the Internet