California governor signs bill legalizing bitcoin

[RussianMadGizmo]

Source

So...what do you think?

 

[SAV1OUR]

bit late cyrpto coin died a looooooooooooong time ago

[Manny Calavera]

bit late cyrpto coin died a looooooooooooong time ago

what you mean?

[qwertywarrior]

wow .......

this will be explosive  !

[qwertywarrior]

what you mean?

just ignore Pikachu

[SAV1OUR]

what you mean?

coin mining's dead

[RussianMadGizmo]

coin mining's dead

Maybe mining is dead but coins still exist and people gotta do something with 'em.

[Manny Calavera]

Maybe mining is dead but coins still exist and people gotta do something with 'em.

let them sit and gain value 10 years later you find out you got pension covered

[RuecanOnRails]

bit late cyrpto coin died a looooooooooooong time ago

 

Your ignorance startled me for a moment. I had to check the validity of your statement, http://isbitcoindead.com/

 

So how many times had Bitcoin "died" now? 9,10,15,30? Funny how it just keeps coming back, almost like there's more to it than what's seen on the surface or covered in mass media articles.

 

Bitcoin and crypto-currencies are here to stay, blockchain technology and Bitcoin itself is an astounding invention that solved a problem in computer science that has plagued the industry for 30+ years. The utility and use of Bitcoin has yet to be realized. You can't un-invent, or dismiss something as monumental as Bitcoin. The idea, the technology, and the decentalized consensus ledger deserve to be looked into and researched, not ignored and hit with blind misinformed comments.

[SAV1OUR]

Your ignorance startled me for a moment. I had to check the validity of your statement, http://isbitcoindead.com/

 

So how many times had Bitcoin "died" now? 9,10,15,30? Funny how it just keeps coming back, almost like there's more to it than what's seen on the surface or covered in mass media articles.

 

Bitcoin and crypto-currencies are here to stay, blockchain technology and Bitcoin itself is an astounding invention that solved a problem in computer science that has plagued the industry for 30+ years. The utility and use of Bitcoin has yet to be realized. You can't un-invent, or dismiss something as monumental as Bitcoin. The idea, the technology, and the decentalized consensus ledger deserve to be looked into and researched, not ignored and hit with blind misinformed comments.

i'm talking about mining it. making computers for mining isn't worth it anymore because of the money that you have to put in to get rewards back. i'm not talking about the currency itself being dead

[tobben]

Your ignorance startled me for a moment. I had to check the validity of your statement, http://isbitcoindead.com/

 

So how many times had Bitcoin "died" now? 9,10,15,30? Funny how it just keeps coming back, almost like there's more to it than what's seen on the surface or covered in mass media articles.

 

Bitcoin and crypto-currencies are here to stay, blockchain technology and Bitcoin itself is an astounding invention that solved a problem in computer science that has plagued the industry for 30+ years. The utility and use of Bitcoin has yet to be realized. You can't un-invent, or dismiss something as monumental as Bitcoin. The idea, the technology, and the decentalized consensus ledger deserve to be looked into and researched, not ignored and hit with blind misinformed comments.

it's a habit of his, he just goes around to every single crypto currency related thread to say "coin mining is dead" he has been doing it for a good while now..

[RuecanOnRails]

i'm talking about mining it. making computers for mining isn't worth it anymore because of the money that you have to put in to get rewards back. i'm not talking about the currency itself being dead

 

Mining by design was never meant as a "profitable" endeavor. It's a zero-sum game where equal work, time, and investment put in, returns equal reward which hopefully covers cost of hardware and running costs. There is no "free money" or massive profits to be seen from mining.

 

Profits seen in the past from mining are equal to, if not less than what total amount would have been if they had instead purchased coins directly, rather than mining equipment.

[SAV1OUR]

it's a habit of his, he just goes around to every single crypto currency related thread to say "coin mining is dead" he has been doing it for a good while now..

and so have allot of other people...

[Akolyte]

I see the future being crypto currencies instead of dollar notes, in like 30 or so years, it will take a while for all the people to adapt and understand.  I think this is good but theres no use imo until regular people can fully understand it.  

 

Its a good start though.  

[RuecanOnRails]

and so have allot of other people...

That does not make suddenly make the argument true.

It's far to tiresome to reply and correct or debate every misinformed poster who simply refuses to take the time to research and understand the topic before posting. Regurgitating the same comment and argument time after time becomes meaningless when those it's directed at simply ignore and remain ignorant to how the world is changing around them. It's back to the arguments in the early 90's about how the internet is more than just e-mail, and it's potential in a few years would impact the world like we had never seen before.

I see the future being crypto currencies instead of dollar notes, in like 30 or so years, it will take a while for all the people to adapt and understand. I think this is good but theres no use imo until regular people can fully understand it.

Its a good start though.

There's no need for "regular" people to fully understand it. It won't impede them from using it. Innovation in the user interfaces, wallet software, and various startup companies are quickly finding ways to create and build layers on top of the protocol allowing anyone to use it with ease; Soon they may not even know they are using it.

The argument that mass adoption will never happen because the layman can't understand the fundamentals is the exact same one that occurred in the early days of the internet. You don't need to understand the underlining technology of TCP/IP to go online. The internet wasn't perfect, but it was good enough, and innovation was built on top. I believe Bitcoin is another innovation that is not perfect, but it's good enough.

[Akolyte]

 

 

There's no need for "regular" people to fully understand it. It won't impede them from using it. Innovation in the user interfaces, wallet software, and various startup companies are quickly finding ways to create and build layers on top of the protocol allowing anyone to use it with ease; Soon they may not even know they are using it.

 

The argument that mass adoption will never happen because the layman can't understand the fundamentals is the exact same one that occurred in the early days of the internet. You don't need to understand the underlining technology of TCP/IP to go online. The internet wasn't perfect, but it was good enough, and innovation was built on top. I believe Bitcoin is another innovation that is not perfect, but it's good enough.

 

yeah, I dont mean to sound rude, but all the old people would have to die before the new generation becomes adults and adopts this. 

[jmaster299]

Makes zero difference since only the US Treasury can legalize or legitimize a form of currency in the US. True people can still barter with untraditional currencies, which is exactly what using crypto currencies is, bartering. But states lack any authority to legalize something as currency.

[AK0490]

It's nice to see what California has done here, fixed outdated laws, it affects more than just Bitcoin.

 

The ignorance in this thread is just startling and quite depressing. 

 

 

 

...isn't it about time for China to ban Bitcoin again, it's been a while.

[Lays]

i'm talking about mining it. making computers for mining isn't worth it anymore because of the money that you have to put in to get rewards back. i'm not talking about the currency itself being dead

 

 

You are my friend, so I won't go full retard on you, but you couldn't be more wrong.

 

Mining with Pc's on certain algorithms may be "dead" but that doesn't mean there isn't other algorithms and coins to mine that haven't been effected by asics yet.

[Foxxer]

It's nice to see what California has done here, fixed outdated laws, it affects more than just Bitcoin.

 

The ignorance in this thread is just startling and quite depressing. 

 

 

 

...isn't it about time for China to ban Bitcoin again, it's been a while.

 

Didn't Japan ban bitcoin too ? 

 

I wound't say mining is dead, but it's fading out.

[Enderman]

let them sit and gain value 10 years later you find out you got pension covered

Thats not how cryptocurrencies work....they lose value over time. Every 25 seconds your bitcoins lose value.

[RuecanOnRails]

Thats not how cryptocurrencies work....they lose value over time. Every 25 seconds your bitcoins lose value.

 

I think you've confused Bitcoin with your local fiat currency. If that's how you think Bitcoin works *it's not* I urge you to look into how those pieces of counterfeit paper in your wallet are created. Bitcoin is scarce, finite, and deflationary there will only ever be 21 million Bitcoins, it's not inflationary, and it doesn't lose value every 25 seconds. Your comment is so absurd and incorrect, I'm intrigued to see how you defend, or back it up.

 

[Mooshi]

Bitcoin is artificially scarce, finite, and deflationary, let's not overlook this glaring issue. Yes, there will only be a certain amount of them mined and in circulation as per design, but the design itself is what imposed this cap. It's not like an actual resource existing in the real world where there is actual scarcity. It's bytes of data. It's no more rare than a Pokemon card that was purposely printed in limited runs even though realistically this could all be changed. it's scarcity based on design and not true scarcity.

 

At the same time, the US dollar is doing the opposite where it's becoming a laughing stock with how it just keeps being printed and losing its value. i'm not sure how to make on either. I find cryptocurrency absurd just as I find the handling of real world currency equally absurd. 

[Manny Calavera]

Thats not how cryptocurrencies work....they lose value over time. Every 25 seconds your bitcoins lose value.

Not every cybro () currecy is the same. Some have limits to the inflation so it cannot happen.

Last time i checked my profit dubled, granted its only useful if i will have somewhere to spend it, or if the currency doesnt fail, but still i am going to hold on to alternative currencies until they might be worth something

[ThatSweetGamer]

coin mining's dead

Mining isn't dead. For bitcoin, yes, but for other coins such as Litecoin or dogecoin, no.