Message from @.B

Discord ID: 492701526276571148


2018-09-21 14:01:03 UTC  

when my asic was delivered it was already a paperweight

2018-09-21 14:01:12 UTC  

BTC was a nice investment 10 years ago

2018-09-21 14:01:28 UTC  

now more changes are expected

2018-09-21 14:01:38 UTC  

you have no way to know which ones will survive

2018-09-21 14:01:51 UTC  

though I believe more in BTC than ETH

2018-09-21 14:01:58 UTC  

ERC20s are scams

2018-09-21 14:02:01 UTC  

yeah

2018-09-21 14:02:09 UTC  

most people still think it's a scam, we're still early adopters though

2018-09-21 14:03:54 UTC  

btc was a lesson in why laziness is bad, ime. "huh this silk road thing looks neat. I look into getting bitcoin for.it tomorrow" and tomorrow never came. And a few years later it broke 20grand xD

2018-09-21 14:06:53 UTC  

this was mfw

https://cdn.discordapp.com/attachments/398973785426100234/492698236029632513/1512846794902.jpg

2018-09-21 14:07:18 UTC  

BTC transactions take way too long and it's so volatile that by the time the transaction has completely you might have lost a few percent.

2018-09-21 14:07:44 UTC  

For regular purchases you need the transaction to be completed in a few minutes, or else you need a very stable price.

2018-09-21 14:08:24 UTC  

And the crypto that will survive is the one that can be used for purchases, because that's the only thing that gives it value. If it can't be used as a medium of exchange then it's just bits with interesting properties.

2018-09-21 14:11:03 UTC  

Yeah, purchase with stores will be the big thing. It's really niche atm. I'll use that or eth for transactions but theyre typicall from very niche vendors.

2018-09-21 14:15:25 UTC  

BTC isn't too bad for latency right at this moment, but earlier this year it was retarded. Hours and hours and hours.

2018-09-21 14:16:29 UTC  

ETH is not really beating BTC in terms of latency right now, but it didn't have the same ridiculous peaks.

2018-09-21 14:19:01 UTC  

you can't complain about latency

2018-09-21 14:19:13 UTC  

latency is a given in Blockchain

2018-09-21 14:19:30 UTC  

yeah, but if there's massive volatility at the same time as massive latency you have severe issues.

2018-09-21 14:19:41 UTC  

transactions where you can lose your entire profit margin.

2018-09-21 14:19:57 UTC  

there isn't "massive latency", you compete to have your transaction done

2018-09-21 14:20:13 UTC  

if there's more competition and you pay low, it takes more time

2018-09-21 14:20:15 UTC  

a few minutes is generally not enough for that to be an issue, but a few hours coupled with 10-15% price swings in a day is.

2018-09-21 14:20:51 UTC  

i don't care how the software works. i care about not losing money when i sell something.

2018-09-21 14:20:55 UTC  

profit margin doesn't come into play, most profit is done off-chain

2018-09-21 14:21:08 UTC  

that's why exchanges are a thing

2018-09-21 14:21:35 UTC  

>i don't care how the software works.
here is your **problem**

2018-09-21 14:21:41 UTC  

ignorance

2018-09-21 14:23:11 UTC  

the ignorance goes both ways here because you're ignorant of what vendors care about.

2018-09-21 14:23:42 UTC  

they simply won't use cryptocurrencies

2018-09-21 14:23:43 UTC  

¯\_(ツ)_/¯

2018-09-21 14:23:49 UTC  

and if vendors aren't going to use btc because they routinely lose on transaction, then btc is not going to gain widespread use.

2018-09-21 14:23:56 UTC  

or they use a middleman

2018-09-21 14:23:58 UTC  

like most do

2018-09-21 14:24:16 UTC  

MOST btc transactions are off-chain

2018-09-21 14:24:18 UTC  

and the value of the currency is contingent on it being a widely used medium of exchange. if it isn't then it's just ones and zeros.

2018-09-21 14:24:49 UTC  

if you don't understand that merchant trades don't even do BTC transactions, all this discussion is a waste of time

2018-09-21 14:25:09 UTC  

you use a middleman, transactions are instant

2018-09-21 14:25:11 UTC  

done

2018-09-21 14:25:44 UTC  

most ERC20 tokens are doing most shit off-chain and companies keep throwing money at it

2018-09-21 14:25:45 UTC  

https://cdn.discordapp.com/attachments/398973785426100234/492702983809925122/nsfw.jpg