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Rassah

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About Rassah

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    Rassah

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  1. Tim Hortons and Bitcoin Megathread

    > Imagine if someone has $1000 in savings, and bitcoin crashed, and they would lose everything they have > I mean Rassah himself said that bitcoin goes up so much in value that there's no way he would pay someone a fixed salary without frequently adjusting it down Do you like not see how those are two opposite problems? Imagine if the average person who has $1000 in savings did the not average thing and put half of it in bitcoin when I got into it and told others to. They'd only have $1,000,000 now. Do you see why I don't bother reading your idiotic "lose IQ points every time I read it" bullshit? I'm sorry I still have to see it when Wiley quotes you, because it pains me to see there are people who are so handicapped out there.
  2. Tim Hortons and Bitcoin Megathread

    Yep. Just like all the Ponzies Bernie Madoff and others ran is what dollars are 😂 I hope you find one. Shorting bitcoin is great. We in the bitcoin world absolutely love this thing called a "short squeeze"
  3. Tim Hortons and Bitcoin Megathread

    Invest in a Ponzi, get result of a Ponzi. That's what Bitconnect is. Stupid people in every space.
  4. Tim Hortons and Bitcoin Megathread

    Why? Because, that's why. https://www.engadget.com/amp/2018/01/14/cryptocurrency-j-pop-group/ And English subtitles
  5. Tim Hortons and Bitcoin Megathread

    This was the argument put forth (among many), that the Senators in general agreed with, and at the end said was their reason to take a wait and see approach. "In the early 1990s, when the Internet was in its infancy, Congress took a wait-and-see attitude to let the Internet develop," said Anthony Gallippi, co-founder and chief executive of BitPay, a Bitcoin merchant payment processor. "So where would social media and other free applications of the Internet be today if in the 1990s we required licenses for the Internet and we taxed Internet access as if it was a telecom?" They also almost all agreed that the current financial regulations already cover bitcoin and are adequate. Or perhaps I'm just enjoying having an ending one on one with one person here. Note I don't spend much time in this forum and in any other topics. "There are only a few winners here, and, unless they lose it all, their impact going forward will be outsize. They also remember who laughed at them and when." (https://mobile.nytimes.com/2018/01/13/style/bitcoin-millionaires.html) We are the new global elite. And yes, yes we do 😑
  6. Tim Hortons and Bitcoin Megathread

    They're not on the fence in US though. We met with the Senators and House members and their staff a few years ago, explained it to them, explained why they can't really do much with it and why trying to would just push things off them and onto much more difficult to control currencies, and they understood and said they would prefer to stay hands off for a while, like they did with the internet when it came out. And by we I meant I and about 15 others in the group (there are a lot of Senators and House members)
  7. Tim Hortons and Bitcoin Megathread

    And hey, speaking of Canada https://colonelandco.ca/products/the-bitcoin-bucket
  8. Tim Hortons and Bitcoin Megathread

    https://news.bitcoin.com/microsoft-press-office-weve-restored-bitcoin-as-a-payment-option/
  9. Tim Hortons and Bitcoin Megathread

    @WileyWarWeasel You really need to learn the difference between "is" and "will be." You haven't shown trends that bitcoin isn't being adopted in any significant capacity by the developing world, you've actually shown the opposite. 9 years ago it started, 5 years ago no one knew about it, 3 years ago it had no use in the developing world at all, and now it's both known around the world and actually used. It didn't go from trillions to many trillions like dollars did, it went from zero in just a few years.Tell you what. How about I keep an eye on this post, and in a few years come back and laugh in your face? Sure bitcoin "bubbled" and "crashed" at $1, at $32, at $250, and at $1,200, but obviously this time it will be different, right?
  10. Tim Hortons and Bitcoin Megathread

    What's funny is that I started telling people and furs about bitcoin as something they should invest in, because I knew this being new revolutionary tech that it will grow in value like nothing else. But all I got back was arguments and dismissals. Was I wrong? Obviously not. But people will continue to argue. Their loss.
  11. Tim Hortons and Bitcoin Megathread

    It's funny you keep telling me that bitcoin is insignificant compared to the rest of the world's currencies, because I didn't really argue that it wasn't. I keep saying I don't give a shit, because it doesn't matter. These are the only graphs that really matter here: And this is just the volume on all exchanges for USD. You can look at all the currencies traded here https://bitcoincharts.com/markets/, which, if you add them up, you'll see that there is well over a billion dollars being traded every single day. This used to be in the hundreds of millions last year, maybe 50 million the year before, and just a few million 4 years ago. You also need to keep in mind that not all bitcoin transactions are just for one person, and not all happen on the blockchain. There are many cases where transactions are batched together, with one single transaction sending money from one to many, or even many to many people. And Coinbase, BitPay, and other exchanges sometimes settle between users and businesses on their own accounts (though admittedly that's no different from using a bank). And this thing is coming this year so while you'll continue to point at how there aren't many transactions on the chain itself, the actual number of transactions will grow even more. This one shows how much money has flown out of government currencies and into crypto tech in general. Even if all it's used for is speculation where people buy and sit on it, and the transaction volume never really grows (despite you claiming that it scales horribly, and me already showing a way in which it can scale easily), in the very worst case scenario it will replace gold as a store of value, and the USD as the reserve currency that governments use to back their own currency and settle debts. But you'll keep focusing on how it's not used by anyone right now and most importantly will not bother investing in it, because it's a bubble, just like it was when it's price hit $1. But that's fine. As I said, you are where you are because of your dismissals, and I am where I am because I didn't dismiss this by looking at where it's at, but was capable of understanding it and seeing where it's going. Honestly, don't you wish you knew what you know now and bought even $1000 worth of BTC even 5 years ago? And that's really what separates us: I knew then what you only know now, but even now you keep dismissing it, believing that exponential growth into hundreds of billions of dollars over the course of 8 years is just a temporary speculative bubble. Regarding your question of "How does the payment receiver know for certain that you've set aside money for them using bitcoin?" You can have two people create an account that they both have keys to and can only spend from if both of them sign off on the transaction. Both can see the money is in there, and both have to come to an agreement to get it out. That's impossible with any other currency. And FYI,
  12. Tim Hortons and Bitcoin Megathread

    Here's a list of articles and people who you naively think are stupider than you (and I don't mean the authors of these articles). https://www.caseyresearch.com/how-bitcoin-is-saving-lives-in-venezuela/ https://www.theatlantic.com/magazine/archive/2017/09/big-in-venezuela/534177/ https://www.bloomberg.com/news/articles/2017-06-15/venezuelans-are-seeking-a-haven-in-crypto-coins-as-crisis-rages https://www.reuters.com/article/us-investment-summit-novogratz/institutional-investors-close-to-adopting-bitcoin-says-ex-fortress-executive-novogratz-idUSKBN1DD2RE http://fortune.com/2017/12/21/goldman-sachs-bitcoin/ http://deadline.com/2017/12/bitcoin-arrives-to-wall-street-bringing-good-news-for-blockchain-entertainment-1202223747/ http://www.newsbtc.com/2017/10/05/serious-mainstream-bitcoin-adoption-led-japan/ But please, keep convincing yourself that it's just a $200+ billion dollar, thousands of businesses, billions in raised capital to develop technology around it, adopted and regulated by dozens of countries, and growing exponentially by every metric, "speculative useless fad."
  13. Tim Hortons and Bitcoin Megathread

    @WileyWarWeasel I'll take your word for it with regards to Ashley's example of something faster, though I suspect (actually know) that the actual transfer of money doesn't happen that fast. Either whatever she thinks is faster is just the transfer showing up in her account with the word "pending" omitted and her not being able to spend it right away despite seeing it, or whatever service she's using simply gives her a temporary credit while the actual money moves from one account to the other. The actual system of money transfer that banks use in the background, SWIFT, is just not that fast. A "trend of bitcoin's insignificance" isn't a trend, it's its current state. The trend you showed of cash growth was pretty small compared to bitcoin's trend of its growth. The reason for Venezuela's economic problem is irrelevant. I was talking about the huge bitcoin adoption going in in that and other similar countries as people move their money from their state currencies to bitcoin. It's not speculation, its protecting their wealth, and in the case of Venezuela actually saving lives. Let me know how one uses cash to buy from Amazon, or to pay businesses and suppliers your business works with. I'm not aware of anyone shipping a pallet of $5mil in USD bills to a Chinese factory, but maybe it happens? Or maybe you're still thinking too small here. No, traditional escrow doesn't "provide similar services." Escrow requires you to find a very trustworthy third party to hold the money, which will not run away with it. Bitcoin doesn't let the third party hold any cash, and in some cases can have an escrow without even requiring a third party! Yes bitcoin is email. It's the first entirely digital value that can be sent over the internet, instead of the old system where the value is held in paper or banks, and the internet is just used to arrange moving and settling it between banks. You stating otherwise doesn't make any points, it only proves again that you have no idea what the hell you're even arguing against. Transaction volume doesn't matter because IT. IS. GROWING. EXPONENTIALLY. You keep telling me how insignificant it is, and I don't give a shit, because I know it was almost nothing a few years ago, it grew to over 250,000 a day in just a few short years, surpassing even PayPal, and is poised to scale to millions a day in the next few years. "Stagnate" my ass! Do you believe that technology will never improve beyond what you have now, despite living in a world where it has been continuously improving for over a century? Where do you live? In a mud hut in sub saharan Africa? Are you replying to me on a 1990's Nikoa phone? I love that you're comparing bitcoin to the internet and real estate bubbles, since we all know that internet turned out to be a total speculative fad that no one uses anymore, and real estate turned out to be a completely worthless bubble and no one lives in houses anymore, but you really should learn about what the hell bitcoin is and what it does, and especially what money actually is, instead of just making these rather ridiculous stupid and uninformed claims. I tried. I really honestly tried. But it's impossible to explain it to someone who absolutely KNOWS how things work despite being absolutely wrong about it, and impossible to argue with someone who believes the world does not progress whatsoever. So go write crap about other technologies that will never scale, like about the inefficiencies of the internal combustion engine and how the automobile is a fad that simply can not be scaled, because there are no places to gas up, and no way to increase production from manually assembling each one one at a time, making horses the superior mode of transportation. I'm not going to bother with this stupid shit anymore. You guys are too spoiled, living in your own teeny tiny little world, thinking the only country that exists is America or Canada, and that everyone in the world lives in those countries, with their bank accounts, visas, stable currencies, etc. that you enjoy. Bitcoin is obviously not for you. And p.s. I still don't give a shit about Ashley. I read and responded to that one post you asked me to, and it was complete idiocy and vitriol as expected. But all her hidden replies to me does makes it seem like she really obsessed. That, or really vain, thinking I care.
  14. Tim Hortons and Bitcoin Megathread

    Oh, with regards to protections, over the last three years I've probably bought about $20,000 worth of stuff from Amazon with bitcoin (and got 10% to 15% discounts every time). Never lost any money. Just used an automatic escrow for every purchase.
  15. Tim Hortons and Bitcoin Megathread

    Still super fast compared to the banking system. Especially for international transfers. You saw it working in the YouTube video. You'll see the scale later this year once it's out of beta. I'm hoping to implement it in the bank I'll be opening hopefully later next year too. Then go to Venezuela, or New Hampshire. You're not looking at trends again. Failed states have currency that's declining due to excessive debt, not just currency that has a small cap. This one is growing and has no debt behind it. I wouldn't call New Zealand a failed state either. So are most of our currencies. Luckily we have telecommunications around the world. Even sat phones are getting cheaper. Yeah there are. Besides traditional third party escrows and transaction monitoring, there's also multi-signature options where you need X of Y signatures to spend from an account. Like 2-of-3. You can have two keys, one in a safe and one in your wallet, and a third party can have the third, and verify your transactions against possible fraud like credit cards do. Except having one signature all they can do is approve or reject your transaction, not take your money. Same for a third party escrow, where you and someone else can have two of the three signatures, and the escrow agent has a third, where all they can do is decide whether the money goes from you to the other guy, or back to you. Stuff traditional money can't even do. Again, who cares about the volumes? Why are they so important? Were email volumes compared to land line phone volumes important to the success of email in 1993? If a bank gets robbed of its cash, it can't just reverse the transaction. That's where insurance comes in. Businesses like Coinbase are insured against loss, so can recover your bitcoins if you get robbed too. As mentioned earlier, third parties can, and will. And some exchanges actually already do, blocking transactions if they are above a certain amount, or if they are unusual going to unknown addresses. It's actually not because of the checks, it's because much of the banking system is still manually run. That's why banks have such big buildings. Sure... So what? It's cause they're already provided, and can be provided in ways that other currencies aren't able to, but I didn't care to explain the multi-signature stuff. More of this is coming too. I hope to provide such a service myself even. Like what? The dot com bubble was because people thought the internet was going to be a useful tech. The real estate bubble was because people thought real estate is valuable and will continue to be useful... Every bubble was because people invested in something they believed had a lot of use and potential, not just "to park money there." So why do you think bitcoin is different, offering nothing of use but for people to speculate on? Hell, why are you so convinced that all the useful features I explained that it has and is working on are worthless in the long run? I'm not a billionaire yet. I guess I just have a bad habit of liking to argue on the internet when someone on the internet is wrong, and I have a passion for this topic. I do work on other things throughout the day. No I'm not. I'm saying that it has a much greater than zero presence, but that the presence is irrelevant. The potential and the current growth is what matters. I do think you may be understimating its presence though. And the internet is just a method of sending beeps (1's) to people at very high speeds. So what? Right. It's just the best money that exists right now. ... again, so what? Why does this even matter? Hell, bitcoin grew by 100 billion in one month. No it's not. Worked for the internet and everything else. Tech has scaled just fine over the last 30 years, and continues to scale. And as I said, that's just one of the scaling methods. Regarding Ashley's comment on storage (no, I'm still not reading her stuff), there is one absolutely BRILLIANT solution to the storage scaling issue: get a second hard drive. I know, mind-blowing, right? Besides, that part doesn't even have to scale that much. You don't need to keep copies of old spent transactions. If you were to get rid of all those right now, you'll probably only need about a gig of storage for the whole blockchain. If every single person in the world used it (7 billion) three times a day, at 250 bytes per transaction, you'd need 5.25 terabytes of storage to accommodate them. That not difficult even using today's tech. And we probably won't get to 3 transaction by 7 billion for a few decades. That's it? Linear scaling is even easier. It's the exponential one that's being worked on the most.
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