Discussion in 'Bullion Investing' started by goldcollector, Feb 21, 2017.
I guess for the same reason I don't sell my 1916-D dime...I bought them for my collection.
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Were they actually loaded with Btc or just tokens that say Bitcoin on them.
Mine are fully loaded coins. In 2010 few people thought bit coins would survive. I also bought various Liberty coins...for the same reason...I wanted them for my collection. I buy crazy things...sometimes I do well and other times I don't.
The safest way to go about "investing" would be to set a small amount aside and do a monthly or weekly buy through coinbase. This way, if the price drops or rises suddenly, as it tends to do with bitcoin, you wont feel it as much. Plan on holding til 2020, the next halvening, or longer. This way you are not left out of the game in case it really takes off. For storage I would recommend the Trezor hardware wallet.
Late reply, the length of some posts defends them well against being fully read. Here we go.
Yes I did. It was the part about Internet worms. You know things like WannaCry which happened after I posted about that sort of thing. It's a matter of taking over millions of devices and exceeding the the processing power of the existing userbase responsible for validating the blockchain, and then they can hijack the authentication process. That's what I mean by overwhelm. Overwhelming the integrity of the protocol. The point that is if the number of clients (miners, whoever is responsible) validating a false transaction exceed the number of those that would have invalidated it then you have counterfeit.
It isn't about being king of the hill. It's about the totality of those in the pool determining which transactions are valid and which are bogus. If it takes X amount of miners to validate a transaction, and it takes Y amount of miners to invalidate the same transaction, all it takes is for X to be continually greater than Y to have control where X is acting as a unit (a worm) and Y is the existing market. The worm being comprised of countless other independent devices means that you wouldn't be able to exclude them by any sort of filtering method. The distributed system could be primarily comprised of counterfeiters. It's not a fox in the henhouse. It's more like a wolf pack where the number of wolves outnumbers the number of sheep.
"The cryptocurrency market just suffered a theft worse than Mt. Gox"
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