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RE: EOS Phishing Hack - 100 Accounts - What Happened?

in #eos3 years ago

Compared to what? Bitcoin that can do 5 transactions / second and had $35 transaction fees when transaction volumes went up?

Or compared to Ethereum that is at transaction capacity and can't handle any real applications running on it unless you count CryptoKitties which brought the entire network to it's knees for a small little application?

Or maybe Ripple which........... well the newbs are still trying to figure out the difference between centralized and decentralized? Hmmmmmm


each of those transaction can be batched for 100k's like coinbase does etc and when lighting is fully operational will be exponentially higher

bitcoin fees are being improved on over time current transaction fee is 0.10c

the reason it takes so long is due to being the only truly decentralized crypto adjustments aren't easy to agree upon or implement

for example Segwit took nearly 3 years but improvements drastically improved effecincy reduced and helped tackle the recent DDOSing by means of dust transactions from thousands of btcoincash wallets

bitcoin isnt even at 1% of functionality with 3 significant technologies coming within the next 2 years will give a taste of bitcoins true power

Plus the LN has made huge leaps- many of the Lapps have shows that the LN can work as a microtransaction system.

Pssshhhh. You do realize I have been hearing about how great the lightning network is going to be since Early 2014!?!?!? It is like a broken record of people talking about how awesome the lightning network will be but it never fully shows up.

Bitcoin fees went down because the baby back n00bs got their sculls crushed in when the Mt. Gox trustee dumped on all of us. Now they are history so there isn't as much activity on the network.

This is going to be you when Lightning network is fully functional.

maybe you should learn how bitcoin and lighting work before displaying your lack of experience with illogical statements

Lighting is working since February still testing and growing.

Again Bitcoin is truly decentralized with the most complex cryptography it takes a very long time to design,test,implement and get consensus.

On the supposed Mt Gox dump is a common misconception and a logical fallacy.

Fallacy of the single cause

There are 100's of thousands of users and millions of factors leading to price change not any news not 1 whale or 100 whales can do much to the price would cost 100's of millions if not billions to move the price a few hundred dollars.

The leading causes for the bear market was over-inflated prices last year by 10's of thousands of inexperienced people investing in things they didn't understand believing what ever ICO altcoin had said in there whitepapers and what shills were saying about projects and that magically the prices would never stop rising.

I'm well aware of how Bitcoin and Lightning Network works or doesn't work.

As far as the price goes yeah things were over hyped but all it takes is one vicious death drop to shake everyone's confidence to a point where they aren't bringing more money in. So yes the Mt. Gox trustee causing the $5,900 low really busted people's teeth out.

In MMA all it takes is one blow and no matter how good things are going that could end the fight.

your comments have shown you dont have a clue how bitcoin or markets work

Nah, Actually I have been involved in this space since 2013 and have a computer information system degree and for many years traded stocks and options. I only trade crypto now. It sounds like you are a Bitcoin Maximalist and you are newer to the game and buy into the same narrative that has been repeated for 4 years. During the spike, Bitcoin didn't even work as well as it did in 2013. It was very sad to see and even more disturbing that all the n00bs didn't know any different.

i've been in bitcoin since 2011 not that time "in the space" matters take the amount of fake crypto experts on steem here since 2016 and still not a clue and from the inaccuracy of the information your spewing i wouldn't put much value on the quality of education wherever you paid for that degree.

on this your "an experienced trader" and bitcoin didn't do as well as in 2013 when nearly 100% of market price was faked by Mt Gox bots wash trading when in reality bitcoin is developing as it should with volatility decreasing year after year

I didn't say Bitcoin didn't do as well price wise as in 2013. I was saying it wasn't working as well as it did in 2013 because of the blocks being filled up and the transaction fees being insane.

Personally I feel more comfortable with Litecoin and Monero in comparison to Bitcoin but I still hold some for the outside chance that an ETF gets approved. Another thing people have been holding their breath on since 2014.

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