OzTitan Posted July 22, 2022 Report Share Posted July 22, 2022 (edited) 2 hours ago, Supdawg said: This is literally one of the most ignorant statements made about Bitcoin and I've heard a lot of them. The fact you think it's just another application is proof you don't have a clue what it is. LOL okay buddy. Try not to take things so personally. Why do Bitcoin cultists always do that. It absolutely is an application on the Internet, and it hasn't had a meaningful impact on the Internet or the world yet other than being a big energy user. Edited July 22, 2022 by OzTitan Supdawg 1 Link to post Share on other sites More sharing options...
OzTitan Posted July 22, 2022 Report Share Posted July 22, 2022 2 hours ago, NashvilleNinja said: "will be". Let me know when it is. Link to post Share on other sites More sharing options...
BobbyCoins Posted July 22, 2022 Report Share Posted July 22, 2022 3 hours ago, OzTitan said: other than being a big energy user. https://www.nasdaq.com/articles/bitcoin-uses-50-times-less-energy-than-traditional-banking-new-study-shows https://cryptotvplus.com/2022/06/bitcoin-energy-consumption-is-less-than-2-of-traditional-banking-report-says-2/ Link to post Share on other sites More sharing options...
BobbyCoins Posted July 22, 2022 Report Share Posted July 22, 2022 3 hours ago, OzTitan said: "will be". Let me know when it is. DYOR OzTitan 1 Link to post Share on other sites More sharing options...
OzTitan Posted July 22, 2022 Report Share Posted July 22, 2022 7 hours ago, NashvilleNinja said: https://www.nasdaq.com/articles/bitcoin-uses-50-times-less-energy-than-traditional-banking-new-study-shows https://cryptotvplus.com/2022/06/bitcoin-energy-consumption-is-less-than-2-of-traditional-banking-report-says-2/ I don't get it, you're saying it's not a big energy user? I never said anything other than it being a big energy user. Also, 50 times less energy than the traditional banking system? well, yeah no shit - easy when it's more than 50 times less useful for the average human than the banking system. Also, LOL at the nasdaq article ending with referral links to buying crypto. Gee I wonder who that opinion piece was directed at. Link to post Share on other sites More sharing options...
Supdawg Posted July 22, 2022 Report Share Posted July 22, 2022 11 hours ago, OzTitan said: LOL okay buddy. Try not to take things so personally. Why do Bitcoin cultists always do that. It absolutely is an application on the Internet, and it hasn't had a meaningful impact on the Internet or the world yet other than being a big energy user. WRONG! I didn't take it personally. I said your statement was ignorant. The nuance of "just (an application)" is an important within the statement's context. It's like saying a car is "just" an air-conditioner or a flashlight. Completely asinine. To your second point of it being a big energy user, my response is, so what? Christmas lights use a lot of energy, and I don't see anyone talking about Christmas light energy FUD. Bitcoin mining as an industry has some of the most renewable power mix of any industry in the world, AND miner profits are DESTINED to trend to where only the cheapest power will survive - which coincidentally is renewable. That is what will happen over time. Only the most efficient miners with the cheapest cost will be able to mine Bitcoin. That is an inevitable trend. Bitcoin mining also uses a tremendous amount of excess power that cannot be used elsewhere. It can convert methane flair gas, stranded natural gas, etc. It can subsidize the build-out of the electrical grid, reduce power consumption when peak loads are occurring, and be a consumer of wasted electricity. So yes, Bitcoin uses power. We disagree on the importance of the usage of that power. So yes, Bitcoin uses power. We disagree on the importance of the usage of that power. Link to post Share on other sites More sharing options...
OzTitan Posted July 22, 2022 Report Share Posted July 22, 2022 (edited) 16 minutes ago, Supdawg said: WRONG! I didn't take it personally. I said your statement was ignorant. The nuance of "just (an application)" is an important within the statement's context. It's like saying a car is "just" an air-conditioner or a flashlight. Completely asinine. To your second point of it being a big energy user, my response is, so what? Christmas lights use a lot of energy, and I don't see anyone talking about Christmas light energy FUD. Bitcoin mining as an industry has some of the most renewable power mix of any industry in the world, AND miner profits are DESTINED to trend to where only the cheapest power will survive - which coincidentally is renewable. That is what will happen over time. Only the most efficient miners with the cheapest cost will be able to mine Bitcoin. That is an inevitable trend. Bitcoin mining also uses a tremendous amount of excess power that cannot be used elsewhere. It can convert methane flair gas, stranded natural gas, etc. It can subsidize the build-out of the electrical grid, reduce power consumption when peak loads are occurring, and be a consumer of wasted electricity. So yes, Bitcoin uses power. We disagree on the importance of the usage of that power. So yes, Bitcoin uses power. We disagree on the importance of the usage of that power. It's nothing like those analogies at all, and it is just an application. It needs the Internet and all its infrastructure just like Twitter does or Shopify does or Internet banking does or online poker does. This was in the context of claiming 750 million transactions is some sort of amazing feat and then some ridiculous claim it's ecosystem is the Internet - no, the Internet is completely ignorant to it even existing like a fly on an animal's ass, and transaction count is about as useful a metric as how many times a DNS server responds to another DNS server. Just empty self-fellating. And of course we disagree on its importance, it unequivocally has little in the real world up until this point. If that was necessary to pave a way to a future where that changes then so be it, but it's nowhere near that yet and hasn't even got a viable path beyond some dooms-day theory relying on the collapse of the world as we know it. The underpants gnomes had a better plan. Edited July 22, 2022 by OzTitan Link to post Share on other sites More sharing options...
BobbyCoins Posted July 22, 2022 Report Share Posted July 22, 2022 Western Union was just an application on the telex network. JPMorgan apparently likes applications, but there's probably nothing meaningful there either. Yeah, we need to sell the news and the rumors and just go back to using seashells. They were the only real money. Link to post Share on other sites More sharing options...
OILERMAN Posted July 23, 2022 Report Share Posted July 23, 2022 @Supdawg Keep it handy https://988lifeline.org/?utm_source=google&utm_medium=web&utm_campaign=onebox 988 Suicide & Crisis Lifeline We can all help prevent suicide. The Lifeline provides 24/7, free and confidential support for people in distress, prevention and crisis resources for you 988 pat 1 Link to post Share on other sites More sharing options...
OzTitan Posted July 23, 2022 Report Share Posted July 23, 2022 5 hours ago, NashvilleNinja said: Western Union was just an application on the telex network. JPMorgan apparently likes applications, but there's probably nothing meaningful there either. Yeah, we need to sell the news and the rumors and just go back to using seashells. They were the only real money. There's nothing wrong with being an application, the point is the bytes for a Bitcoin transaction are traversing the same infrastructure that cat videos and posts to TitansReport.com do. It has no special position on the Internet, it is just another application. Every day VoIP has better priority in a lot of Internet infrastructure. And it's because of this that the whole idea that Bitcoin could become the global financial standard system is so far beyond fantastical it is ridiculous. The Internet was not designed to be the network for the global financial system. There are core vulnerabilities that are just not compatible with this proposition. Yes, we use the Internet for a lot of important stuff right now including financial transactions of course, but there's a big difference between that and the global financial system existing entirely on the Internet. The threat of well resourced attackers performing DDoS or something like BGP hijacking or even just physically attacking deep ocean cable backbones is hugely concerning, and with literally the world's most important system being this vulnerable you best believe a new scale of nation state offensive capability will rise as a result. That, and the Internet is still mostly a US centric network. It may be global, but the pointy end at the top is still largely US controlled. So this idea the Internet will play host to a global financial system's entire infrastructure just isn't realistic. But, most Bitcoin mania is US based, so I'm not surprised that doesn't seem like an issue for most. Besides technical issues, the suggestion that sovereign nations will willingly adopt such a system in any way that resembles the current ecosystem of Bitcoin is madness. I suspect digital currency will be a big part of finance in the future, but not like this, not without central control for sovereign nations. If your model of future relevancy is relying on some sort of cataclysmic event to occur then you're operating in a fantasy land, as even if something like that did happen, all bets at off when the world's most important system collapses. The problem is cryptobros are seemingly more interested in making frivolous things on top of blockchain etc rather than solving anything in particular or addressing any of the fundamental reasons why it can't be what they tout it will be. They'd rather jerk off to an A list celeb on a Superbowl ad than actually do anything meaningful. They can definitely build an industry out of all this and already have done as much, but it isn't special or different than any other Internet based industry. There's an industry for all types of stupid shit these days. It hasn't changed anything substantial with daily life for 99.9% and it won't at this rate. If it ever hopes to be actually relevant, it will need governments and regulators and the banking system to be onboard - Matt Damon convincing suckers won't do it alone, there is no tipping point ever at play with hoping for mass adoption for no good reason. OILERMAN, and IsntLifeFunny 2 Link to post Share on other sites More sharing options...
titanruss Posted July 24, 2022 Report Share Posted July 24, 2022 20 hours ago, OzTitan said: There's nothing wrong with being an application, the point is the bytes for a Bitcoin transaction are traversing the same infrastructure that cat videos and posts to TitansReport.com do. It has no special position on the Internet, it is just another application. Every day VoIP has better priority in a lot of Internet infrastructure. And it's because of this that the whole idea that Bitcoin could become the global financial standard system is so far beyond fantastical it is ridiculous. The Internet was not designed to be the network for the global financial system. There are core vulnerabilities that are just not compatible with this proposition. Yes, we use the Internet for a lot of important stuff right now including financial transactions of course, but there's a big difference between that and the global financial system existing entirely on the Internet. The threat of well resourced attackers performing DDoS or something like BGP hijacking or even just physically attacking deep ocean cable backbones is hugely concerning, and with literally the world's most important system being this vulnerable you best believe a new scale of nation state offensive capability will rise as a result. That, and the Internet is still mostly a US centric network. It may be global, but the pointy end at the top is still largely US controlled. So this idea the Internet will play host to a global financial system's entire infrastructure just isn't realistic. But, most Bitcoin mania is US based, so I'm not surprised that doesn't seem like an issue for most. Besides technical issues, the suggestion that sovereign nations will willingly adopt such a system in any way that resembles the current ecosystem of Bitcoin is madness. I suspect digital currency will be a big part of finance in the future, but not like this, not without central control for sovereign nations. If your model of future relevancy is relying on some sort of cataclysmic event to occur then you're operating in a fantasy land, as even if something like that did happen, all bets at off when the world's most important system collapses. The problem is cryptobros are seemingly more interested in making frivolous things on top of blockchain etc rather than solving anything in particular or addressing any of the fundamental reasons why it can't be what they tout it will be. They'd rather jerk off to an A list celeb on a Superbowl ad than actually do anything meaningful. They can definitely build an industry out of all this and already have done as much, but it isn't special or different than any other Internet based industry. There's an industry for all types of stupid shit these days. It hasn't changed anything substantial with daily life for 99.9% and it won't at this rate. If it ever hopes to be actually relevant, it will need governments and regulators and the banking system to be onboard - Matt Damon convincing suckers won't do it alone, there is no tipping point ever at play with hoping for mass adoption for no good reason. Fwiw... BTC doesn't have to be on the internet any as much as the financial system does. It can all be paper worked and figured off the grid just as the old financial systems connecting and trusting as before... of course that would be stupid and would take forever and would be MORE vulnerable - just like old financial systems. You use the advantages you have. .. and modern financial systems absolutely rely on the internet. it's definitely a weird statement to say it's bigger than the internet... if that's what you think the comparison is, I don't think anyone is saying that. It could have its own secluded network but why? The internet is its own reality. It's its own world. Literally everything on it is an application and physical tangibility will be the only thing that matters if the world is surrounded by some electrostatic/magnetic aura limiting any sort of electronic or digital communications... Which in that case all else is fucked anyhow Link to post Share on other sites More sharing options...
OILERMAN Posted July 24, 2022 Report Share Posted July 24, 2022 Tesla Dumped 75 Percent Of Its Bitcoin Holdings For $936 Million Tesla reportedly lost around $162 million from its initial Bitcoin investment. Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted July 28, 2022 Report Share Posted July 28, 2022 When you see news like that, you know it's time to buybuybuy dat BTC!!! Coming off the current bottom nicely so far. Link to post Share on other sites More sharing options...
OzTitan Posted July 29, 2022 Report Share Posted July 29, 2022 https://web3isgoinggreat.com/?id=kucoin-announces-anti-fud-fund-to-track-down-and-sue-critics lol. I'm pretty sure one of the cultists here used the term FUD on me recently, hopefully I don't get sued! titanruss 1 Link to post Share on other sites More sharing options...
Jamalisms Posted July 29, 2022 Report Share Posted July 29, 2022 It's like they took dumbest aspects of politics and turned it into an "investment." 9 Nines 1 Link to post Share on other sites More sharing options...
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