The State of Cryptocurrency

[R-T-B]

It is? I have read about 20 hospital and local city government ransomware that were forced to pay in last 12 months alone, and it's increasing at a compounding rate as price goes up.

Price, and by proxy bitcoin, has nothing to do with it. Ransomware writers would demand irreversible transactions like western union wire transfers to a no-laws nation if cryptocurrency were banned. They cash out nearly immediately anyways so price does not matter to them.

The issue is the cryptography that powers ransomware, and you can't really outlaw that.

enjoy all your riches.

Don't need to. Money doesn't buy happiness.

 

[Space Lynx]

Price, and by proxy bitcoin, has nothing to do with it. Ransomware writers would demand irreversible transactions like western union wire transfers to a no-laws nation if cryptocurrency were banned. They cash out nearly immediately anyways so price does not matter to them.

The issue is the cryptography that powers ransomware, and you can't really outlaw that.



Don't need to. Money doesn't buy happiness.

I have never seen a single ransomware ask for western union... and even if it did exist it existed in primitive times... it would easily be traceable now and setup before the hospital/government would release the funds. Also the frequency of the attacks would be lower. Crpyto makes it easier to be a criminal no doubt about it.

 

[R-T-B]

I have never seen a single ransomware ask for western union...

Because it costs more. Expect it when crypto is banned (along with increased cost).

it would easily be traceable now and setup before the hospital/government would release the funds.

There'll always be a bank that won't cooperate somewhere.

Crpyto makes it easier to be a criminal no doubt about it.

That may be true, but it's not enough reason to outlaw it IMO.

 

[Space Lynx]

I suppose so, and corporations are kept in check because of crpyto as well, their power is limited when they are not monopoly. I don't know though, it seems to be the U.S. Government doesn't enforce the laws so well lately when it comes to money laundering etc, it makes me wonder why doesn't everyone just go full on corrupt, I think that will happen in next ten years or so. and soon after the value of the dollar will be worthless, especially when are 6 trillion war debts stay unpaid with compounding interest, and 23 trillion total now even though it only like 14 trillion actual, but still. once the democrats win in response to trump and add on a few trillion to that with universal healthcare, etc "unexpected it cost this much" as an excuse...

I don't know, eh. just seems like the world is playing a dangerous game lately, specifically America. Debt is no big deal anymore. How long can that last before it all collapses. Maybe crypto is the future

 

[Deleted member 158293]

no but critical systems should never be hooked up to an online network to begin with. LAN only imo. the context of your argument is different than mine, but thanks for trying to distort it.

regardless I don't care either way. i have lived 15 years on 10 bucks an hour, and quite frankly I am plenty happy. enjoy all your riches.

Hmm ok then, nobody including banks, should be able to use cryptography either because bad people could use it? The basic idea is the same.

As for debt, under the current monetary system debt is required. Without debt the borrowing system can't function, and when borrowing too much, well we will see what happens.

 

[er557]

bitcoin has now briefly been on 11k $, and analysts predict it will rise in a few months to 40k$ per unit.

 

[lexluthermiester]

It is? I have read about 20 hospital and local city government ransomware that were forced to pay in last 12 months alone, and it's increasing at a compounding rate as price goes up.

Ok, now compare that number to theft crimes IRL. I'm not saying it's not happening or that it's not serious, just that it's not rampant and the whole of the cryptocurrency world shouldn't have to close up shop because of the actions of a few nitwits.

 

[Metroid]

It is? I have read about 20 hospital and local city government ransomware that were forced to pay in last 12 months alone, and it's increasing at a compounding rate as price goes up.

If they had invested in security that would never have happened, with few steps as a network administrator, I could have solved all their problems hehe

bitcoin has now briefly been on 11k $, and analysts predict it will rise in a few months to 40k$ per unit.

Few companies have already trillion dollar market value, to me is just normal cryptocoin market value hitting that next year.

 

[trog100]

i wish i had bought one whole bitcoin back at the beginning of the year.. but at least i didnt sell what i had.. my hodling is paying off.. he he..

neo is my big loser.. it was worth hundreds now its worth 15 dollars.. i have 25 of the f-cking things i sold half my litecoin to buy neo.. ouch..

trog

 

[Space Lynx]

i wish i had bought one whole bitcoin back at the beginning of the year.. but at least i didnt sell what i had.. my hodling is paying off.. he he..

neo is my big loser.. it was worth hundreds now its worth 15 dollars.. i have 25 of the f-cking things i sold half my litecoin to buy neo.. ouch..

trog

there is no stopping bitcoin now, i'd trade everything you have for whatever small amount you can get, and it will still double in value. I'm still worried we are helping China rise to ultimate power with bitcoin, those massive mines on the river dams... there is no doubt in my mind they control majority of coins. since the government seized a lot of those massive mines, I saw one photo on an niche website of this dam in China, massive massive farm... miners everywhere in like a massive cave... it was lit. lol more power to them, death comes soon enough for all of us, mother nature has had enough with us. we got 20 years at best left before mass displacement begins, 3-5 years if you live in India where 600 million might be out of water soon.

 

[moproblems99]

regardless I don't care either way. i have lived 15 years on 10 bucks an hour, and quite frankly I am plenty happy. enjoy all your riches.

Orly?

I suppose so, and corporations are kept in check because of crpyto as well, their power is limited when they are not monopoly. I don't know though, it seems to be the U.S. Government doesn't enforce the laws so well lately when it comes to money laundering etc, it makes me wonder why doesn't everyone just go full on corrupt, I think that will happen in next ten years or so. and soon after the value of the dollar will be worthless, especially when are 6 trillion war debts stay unpaid with compounding interest, and 23 trillion total now even though it only like 14 trillion actual, but still. once the democrats win in response to trump and add on a few trillion to that with universal healthcare, etc "unexpected it cost this much" as an excuse...

I don't know, eh. just seems like the world is playing a dangerous game lately, specifically America. Debt is no big deal anymore. How long can that last before it all collapses. Maybe crypto is the future

there is no stopping bitcoin now, i'd trade everything you have for whatever small amount you can get, and it will still double in value. I'm still worried we are helping China rise to ultimate power with bitcoin, those massive mines on the river dams... there is no doubt in my mind they control majority of coins. since the government seized a lot of those massive mines, I saw one photo on an niche website of this dam in China, massive massive farm... miners everywhere in like a massive cave... it was lit. lol more power to them, death comes soon enough for all of us, mother nature has had enough with us. we got 20 years at best left before mass displacement begins, 3-5 years if you live in India where 600 million might be out of water soon.

Those aren't happy thoughts from a happy person.

 

[trog100]

Bitcoin is around $12500 now.. i think what it does now is anybodies guess..

Bitcoin: Analysts go bonkers as king coin breaches major resistances and heads for the moon

Analysts and their charts are a match made in heaven. Bitcoin’s price push over $12,000 has put the coin on the verge of a $13,000 price breakout or fakeout, resulting in several cryptocurrency analysts going bonkers with their price predictions, resistance and support level placing and...

ambcrypto.com

trog

 

[Outback Bronze]

i think what it does now is anybodies guess

My guess is up, up and away.

 

[dorsetknob]

Price can go up or down but many people are sweating it don't spike a resurgence of mining and the resultant Price rise/demand for hardware

 

[lexluthermiester]

Price can go up or down but many people are sweating it don't spike a resurgence of mining and the resultant Price rise/demand for hardware

Yeah, cause we need that like we need a whole in the forehead.

 

[Deleted member 158293]

Bitcoin mining at an all time high.

For those worried about hardware prices, so far only bitcoin proper is going up in fiat value and bitcoin has no need of regular CPUs or GPUs, only altcoins need those.

 

[trog100]

Bitcoin mining at an all time high.

For those worried about hardware prices, so far only bitcoin proper is going up in fiat value and bitcoin has no need of regular CPUs or GPUs, only altcoins need those.

bitcoin makes the headlines but the main altcoins are following bitcoin up.. they missed this last little overnight spike but thats about all..

trog

 

[Mescalamba]

Crime done in FIAT outshines those done in cryptocurrency probably thousand times.

People will use whatever they want to do crime and pay for it. Heck, they even use gold bars.

 

[hat]

I cashed out just over .1 BTC when it was just below $7000. Had I waited until today to do that, instead of roughly $700 I could have pulled over $1300. That really rustles my jimmies... but then I remember I can easily make that up by taking a few extra days at work, and I can do so in about 2 weeks or so. I took me over a year to mine .1BTC.

FWIW I needed a car and that helped me get one. So now I'm rebuilding my little BTC stash until next time...

 

[TheMadDutchDude]

I hear ya... I remember selling a bunch of ETH at $10 each and then seeing it hit $800 the following year.

 

[silkstone]

I hear ya... I remember selling a bunch of ETH at $10 each and then seeing it hit $800 the following year.

Losing all my mined bitcoin back when it was $3 a pop didn't seem like a big deal. It stung a little more when I saw it reach close to $20k, if only because losing all my bitcoin made me stop bothering to mine it any more.

 

[Space Lynx]

aye Bitcoin is the future I have no doubts now, I just wish it didn't have to use so much electricity... we have messed up the Earth more than even scientists realize I think, Bitcoin did not help it any. the permafrost melting in Canada 70 years earlier than predicted has me scared. humans will always be blinded by their greed and envy, this is why mother nature will "correct" our population numbers within 20 years whether we like it or not, and it's our own fault.

 

[Papahyooie]

Why can't BTC go on a bull run during the winter again, so I can get free heat from it instead of having to worry about cooling costs...

 

[trog100]

just a tad under $13500 now and still seemingly going up vertically..

its gone up well over 2000 dollars in the last 24 hours.. it does make you wonder just what is driving it and how far its gonna go.. he he

trog

 

[Deleted member 158293]

Yeeeeah this price spike right before AMD launch event is a great hodl test, at least it's not the Threadripper launch!

Expected a pullback 2k+ ago so who knows, this is unknown territory.

bitcoin makes the headlines but the main altcoins are following bitcoin up.. they missed this last little overnight spike but thats about all..

Oh seems the institutional investors (and of all things NFL players, but that's another story) are really popping bitcoin. A couple major alts are somewhat following on tailwinds, maybe from people hoping to regain lost ground. That's quite a big difference from last time at this level.