Any Thoughts On Bitcoin ?

Discussion in 'Bullion Investing' started by goldcollector, Feb 21, 2017.

  1. yakpoo

    yakpoo Member

    I guess for the same reason I don't sell my 1916-D dime...I bought them for my collection.
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  3. Blissskr

    Blissskr Well-Known Member

    Were they actually loaded with Btc or just tokens that say Bitcoin on them.
  4. yakpoo

    yakpoo Member

    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.
    TopcatCoin and Prime Mover like this.
  5. SlickBullion

    SlickBullion New Member

    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.
  6. InfleXion

    InfleXion Wealth Preserver

    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.
    Last edited: Jan 19, 2018
  7. InfleXion

    InfleXion Wealth Preserver

    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.
  8. Garlicus

    Garlicus Debt is dumb, cash is king.

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