I'm a Cryptojew AMA - watch me trade (sometimes poorly)

CrunkLord420 said:
BTC only has value for being the heaviest (longest, most hashrate). Forking it does nothing, Bcash is just an altcoin, like any other altcoin. Bcash isn't a very good altcoin.
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I've seen the analogy that bitcoin is now a store of value like gold, not a viable currency. That said, do you think the warnings about a bubble are just nervous boomers scared of crpyto or worth more attention?
 
chekovia said:
I've seen the analogy that bitcoin is now a store of value like gold, not a viable currency. That said, do you think the warnings about a bubble are just nervous boomers scared of crpyto or worth more attention?
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I do see it as a store of value like gold, and I'm fine with BTC not being used for day-to-day transactions. People are suggesting sidechains/LN and hardforks to resolve this and I just don't see the need. I don't like the idea of making BTC anymore complicated than it needs to be, and I feel like massive for-profit interests are at play when it comes to pushing most of this shit.

BTC just needs to remain as stable as it can possibly be, and not explode (in terms of being a decentralized P2P network). I don't know about the price, it should probably go down at some point at which time everyone will cry "crash". Regardless of what happens to the price, BTC is still the oldest, longest, most difficult blockchain in existence and there's no reason to believe that blocks will stop being mined anytime within the next decade.

I want to point out that specifically Bcash makes it harder to maintain a healthy decentralized P2P network due to the higher barrier to entry of running a node and basically official guidance that SPV wallets should be considered the norm. Retards like Roger Ver like to meme about how "Satoshi's true vision included SPV!" but anyone who actually thinks about how this shit works recognizes the dangers of centralizing everyone's BTC transactions through a handful of "economic nodes".
 
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I keep seeing people complaining about places like coinbase and bitfinnex being unreliable and shit. Any idea what's going on?
 
What's your thought on Ripple/XRP? It seems to have financial institution backing because of the underlying technology, and it seems to have a good outlook moving into the future. I haven't seen you mention it yet.
 
Ripple seems to be centralized and you can't mine it. Not sure what's up with that.
 
raymond said:
Ripple seems to be centralized and you can't mine it. Not sure what's up with that.
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I don't consider it a real cryptocurrency and avoid touching it out of principle. That said it likes to pump dramatically at times, it's probably smart it grab some during its typical lull periods.

They're more of a corporate coin than Ethereum, and they specifically want to work with banks. On a side note one of the Ripple guys (Howard Hinnant) has given several talks about std:: chrono at cppcon, which is cool.
 
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raymond said:
Ripple seems to be centralized and you can't mine it. Not sure what's up with that.
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It's apparently the crypto that a lot of banks were pushing for because they own it. XRP got pumped&dumped like a prom night whore.
 
Is there any currency that does something materially useful with the computing power it uses? Something like folding@home that pays out in crypto when you solve whatever problem it has, for example. As I understand it, bitcoin and others are just puzzles for the sake of themselves, not real problems that need solutions.
 
BillionBisonBucks said:
Is there any currency that does something materially useful with the computing power it uses? Something like folding@home that pays out in crypto when you solve whatever problem it has, for example. As I understand it, bitcoin and others are just puzzles for the sake of themselves, not real problems that need solutions.
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It's been tried and it doesn't really make sense. You still have to do regular PoW in combination with the folding, and there's the complication of spoof your folding results since the answer itself is unknown (as in not a one-way hash function) and would have to be redundantly compared, but that introduced concerns about sybil attacks.

I'm not sure what regular Folding@Home does to verify results other than re-running "successful" simulations in a centralized/secured system. Which isn't a compatible concept with a decentralized blockchain.
 
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chekovia said:
I've seen the analogy that bitcoin is now a store of value like gold, not a viable currency. That said, do you think the warnings about a bubble are just nervous boomers scared of crpyto or worth more attention?
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Even if that's true, gold is a sucky place to park your money.
 
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Sho'nuff said:
What's your thought on Ripple/XRP? It seems to have financial institution backing because of the underlying technology, and it seems to have a good outlook moving into the future. I haven't seen you mention it yet.
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I once got free money out of it. There was some deal where you got a bunch free for joining something related to it, so I got that. Then there was some dude who was trying to buy all of it. That drove up the price and I sold the free XRP for like $70 or something. I haven't cared enough about it since then, because the whole centralization and pre-mining bullshit makes it funny money imo.
 
Are there any special considerations for taking care of my PC while using it to mine? I don't want to fuck up my PC on some weird Jewish scam.
 
TerminalTryHard said:
Are there any special considerations for taking care of my PC while using it to mine? I don't want to fuck up my PC on some weird Jewish scam.
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Miners can contain malware, but you don't need your wallet on the same system so if you're running it purely for mining or booting off something like EthOS it doesn't actually matter if you get malwared.
 
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