Though I am a ROOKIE in Cryptocurrencies, barely have invested in it but it bothers me - though I am great believer in the TECH, to see 1600 plus tokens and every TOM, DICK & HARRY with a few bucks to rub has launched a website, uploaded a whitepaper and promoting a TOKEN, so many are overlapping ideas and so many sound and look like SCAM artists. This is the part where I feel like some sort of regulations are needed.
And YES, before you start calling me an ASSHOLE too, allow me to clarify that, I believe and have invested my majority of investments in EOS (though I believe EOS has the potential to revolutionize the world, if they are able to scale it and really deliver on their promise) and Ethereum. But this all cools to far fetch at the moment, YES you may call it Skepticism
The HELP part is that, I do own some BITCOIN but that is because, it would sacrilegious to invest in CryptoCurrency and not have a part of the OG though listening to Richard Grifens; who in my opinion really made a lot of sense, where he stats that a TECH which doesn't have the scalability and nor has the potential to absorb the transaction volume of Paypal, Visa and or any Banking Transfer mechanism, then how are the promoters keep on considering it (Bitcoin) as a medium to replace these Giants.
I will list my questions and if someone would be kind enough to comment and clarify it for me
- So, Bitcoin is capable of 3 to 4 Transactions per Second, Ethereum is capable of 18 to 20 Transactions per Second and the GIANTS that they intend to dethrone are currently, doing or are capable of 1900 to 2000 Transactions per Second, as matter of fact as per the 2015 data that I could find for paypal - they did 6.1 Billion transactions and Visa are capable of doing 56,000 per second - now, putting all this into perspective - VISA is so robust that with even each and every coin & token put together, as of now, NONE show the capability to beat them and what I keep on hearing is that, the LIGHTENING network would enable Crypts to beat them.
So one imaginary believing in another imaginary to help be competitive to THESE GIANTS
- Let's move on to the 2nd one: so if we are investing in all these various COINs and TOKENs, is it ONLY from the point of view that we are doing so, for the sake of speculation and making money and hoping every investment we make will simply MOON and we will make 100x or 200x if we are luck maybe 1000x, so is it really expected to IMPROVE our lives and change it.
In continuation of the same, I got myself into it, initially, because, it was a good money making opportunity and an alternate income but, sick & tired of my FUCKIN stupid nature to QUESTION everything (but I am proud of infecting my children with it, since I am sure, it will be more useful to them, than poor old me), I started QUESTIONing
"WHAT IS THE POINT OF IT"
"WHAT ARE WE TRYING TO ACHIEVE BY DOING THIS"
"IS IT REALLY A TECH THAT WILL ENABLE US (Libertarian School of Thought assholes) TO BRING POWER BACK TO THE PEOPLE"
I can say one THING for sure that I know, that this TECH will change everything we know as of TODAY as has the INTERNET. But I don't believe that ALL the people involved in it are having CLEAN intentions, some are here just for the sake of FUCKING the hasty ones and silly ones which will INVEST in trends and trying to catch WAVES. And these UNETHICAL motherfucker will further TAINT the image of this beautiful and amazing TECH
But, I still have hope in this, but my last 2 questions are:-
Do you think all these Goldman Sachs, JP Morgans & Rockafellers and FED and other Central Banks will let this TECH really snatch away their THRONES from them - have you all forgotten what Cersei said to Edard Stark "In this game its either Glory or DEATH"
Lastly, I think AI (Artificial Intelligence) is good as long as it aids humans but development of the same to HUMANOIDs is not what I will ever sign up for, even if it means that Robots will clean my house and cook my food and whatever the FUCK more they can do nor am I ever going to signup for them to take decision on my behalf, so, even FUCK YOU too autonomous DRIVING and yes, a lot of you say, what about AUTO PILOTS and I will say, I would rather die by the hands of a MAN because we all are MORTALS and have to Die then a machine to KILL me - FUCK that SHIT
Last GIF is something I found funny and is, probably irrelevant to all said above
DISCLAIMER: if you find my use of FUCK offensive, then I apologize, but DAMN you read all of the above to read my disclaimer