Bitcoin evangelists' feedback

Trader Curt said:
You don't need to believe or understand what you are buying before you buy?

Wow, that's ridiculous...
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Some people would fomo just to be part of the in-crowd
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Trader Curt said:
You don't need to believe or understand what you are buying before you buy?

Wow, that's ridiculous...
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You can't read English? I said I don't need to believe or feel but I presented the points of the article for feedback because I would like to better understand the arguments for and against. You're the one throwing nonsense into a simple inquiry. And if a traders forum isn't the best avenue for such inquiry then what is?
At this point, I hear no-one dispute point #3, which ought to be of great concern. Even point #4 is concerning to me.
 
VicBee said:
You can't read English? I said I don't need to believe or feel but I presented the points of the article for feedback because I would like to better understand the arguments for and against. You're the one throwing nonsense into a simple inquiry. And if a traders forum isn't the best avenue for such inquiry then what is?
At this point, I hear no-one dispute point #3, which ought to be of great concern. Even point #4 is concerning to me.
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3) https://bitnodes.io/

4) https://news.bitcoin.com/analysis-s...but-btc-ownership-is-not-highly-concentrated/
 
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VicBee said:
Bitcoin payment takes as much time and energy as 33,000 credit card swipes

AND how much does that take? BTC is not a small payment system. It's for inflation hedging mainly and for investing outside the system of gubmint control and unknown fiat printing presses rate.

3. 90% of Bitcoins are mined (or hashed) in China, Iran and Russia...Over 50% of the bitcoin nodes... are based in China (which) currently controls over 50% of Bitcoin mining
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So what? The math on a 50% attack of BTC is wildly unlikely for a number of reason and what would be the point, really? If a 51% attack actually succeeded, the price of BTC would plummet to zero as investors panicked and shorts piled in to drive it down. What mining cartel would benefit from that? (I guess if they were net short by a wide margin, they could make a big payday.)
 
VicBee said:
You can't read English? I said I don't need to believe or feel but I presented the points of the article for feedback because I would like to better understand the arguments for and against. You're the one throwing nonsense into a simple inquiry. And if a traders forum isn't the best avenue for such inquiry then what is?
At this point, I hear no-one dispute point #3, which ought to be of great concern. Even point #4 is concerning to me.
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It doesn't matter, you already bought without knowing 100% what you're buying and expect unknown sources on the internet to do your dirty work because you are too lazy to do your own research. It's not our fault you bought!
 
misterkel said:
So what? The math on a 50% attack of BTC is wildly unlikely for a number of reason and what would be the point, really? If a 51% attack actually succeeded, the price of BTC would plummet to zero as investors panicked and shorts piled in to drive it down. What mining cartel would benefit from that? (I guess if they were net short by a wide margin, they could make a big payday.)
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So you just answered your "so what?".. and from a geopolitical perspective, China's ability to shut down Bitcoin could have a serious impact on the world's economy.
 
johnarb said:
China cannot shut down bitcoin even if they shutdown all the Chinese bitcoin mining farms, you do know that, right?
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The article says 50%, which is substantial and could have a devastating effect on BTC, especially if they work something out with the Russians and Iran who would me more than happy to go nuclear on America.
Again, I'm not trying to sow hatred, but rather to get a better foundational understanding of Bitcoin's future from less of a technical aspect.
 
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