What do you think happens when paper money or gold and silver are replaced with electronic central bank controlled currencies? What do you think happens to your privacy, or your capability of financing or purchasing what you want?
I cant believe people are so stupid they believe that a digital currency, in the age of tech tyranny, is actually a good idea.
We need a shift AWAY from electronics that are ALWAYS controlled by a small group of people.
Take for instance India. Bitcoin and other private cryptos will be made illegal, meanwhile government central bank issued cryptocurrency is being developed. What does that sound like to you? Sound like a good proposition?
Wake up people. We need to scrap fiat currency and return to gold and silver. Dont listen to the shills saying crypto is the way of the future. It is not. It is the way to enslavement.
Furthermore, the SHA256 algorithm upon which Bitcoin and most cryptos are based, was created by the NSA. Therefore the NSA would be the only organization in the world to have the backdoor to everyones wallets. Until central banks get involved.
The solution is not magic internet money. It is abolishing central banks, and furthermore, returning to sound currency based on precious metals, that are untraceable and provide us with freedom, security and privacy.
Please crypto people, stop selling yourself a utopian dream.
Almost removed this. There is so much factually incorrect information in this that it's not even funny. Discuss away, everyone.
Catherine Austin Fitts: Mr. Global’s Bid for Economic Totalitarianism and Transhumanism – IF We Allow It
your argument is the same as saying email and cell phones are bad - let's go back to snail mail
cars have license plates we should go back to horses ?
houses have title documents govt knows where you live - time to go trail blazing and live in the bush ?
crypto is a technology can be used for good or bad
the king tried to outlaw gunpowder - where did that get him?
did he monopolize it and the world is ruled by men in castles with cannons on the ramparts - or did they find it impossible to control.
crypto has been running over 10 years now, widely used in the dark markets, investors are coming in - yes it can be tracked - so can a bank wire and a check since 100 years ago....
india has always been weird with money - you could change USD and GBP in the back alleys for double the rate 30+ years ago....
what do you think will happen if they try to outlaw bitcoin - it only adds to the appeal....anyone with spare cash will find a way to move into BTC.... it makes it more appealing not less.
in Venezuela in total poverty for years they have been trying to shut down cryptos - they were not able to.
they have been trying to kill torrents for 20 years now - you can still download any movie you want in 5 minutes from a torrent at zero cost.
they won't be able to kill it - they can try and they will fail and their douche coin digital govt central bank masturbation will be shown for the worthless laundry token it is....
Bitcoin, yes. Cryptocurrency in general? No.
There are options out there such as Nano, or BCH, that have potential.
2 masks and a finger in your ass. Keep pushing forward.
Currencies used by the criminals, on large scale.
Soros is paying Navalvy in Bitcoin after Russia found Navalny's MULTI MILLION $$$ account in Swiss banks, For a man who never worked a day in his life. So, Bitcoin to feed the deeds now. As one example.
And all the child trafficking now will also switch to digital currency as well, for same reasons. All drug deals are mostly same, for a while. ALWAYS FOLLOW THE MONEY.
RE: "... Better to say it is used by people who do not want the government to be able to track and control their actions. "
Isn't that what I pointed out?
Crypto is traceable. Tbey are not using it for major crime. The USD is
It is indeed a technology. Like the evolution of currency from polished sea shells to gold and silver, this technology has itself for better or worse become a curency in some circles.
The problem is that the "digital world" really is just these large mega cities that seem to live in a bubble. Outside of these city bubbles is the real world where all this future fantasy stuff falls apart.
If this is to be the future of currency then it needs a longer time to penetrate into the rest of the world outside of mega cities. Even in the USA, there are places where power goes out weekly, internet is spotty and unreliable, and stores that only accept cash.
I don't think people are against it because they are afraid of the change. I know for me what concerns me most about Bitcoin in particular, is the foundings of it seem unclear to me. Also the level of required technology for it to work. I see this magical term "blockchain" thrown around. No idea what that is or does and it doesn't even matter if at the basic level there is no power or no internet to perform a transaction.
You have no idea what the f*** you're talking about. There's a difference between a pre-mined centralized cryptocurrency and a public blockchain like Bitcoin. Please shut the f****** about things you don't understand.
Emp or micro nova from our sun would take care of any digital currencies.
Yep. Not having crypto is the least of your worries since you would now be on a barter system so bullets, food, precious metals, tangible assets would be what you need to survive. I say diversify. Have precious metals, stocks and crypto.
Having hard money in a bank holding value on a dollar the fed reserve printed into oblivion is retarded. Having all your money in one stock or one crypto is equally retarded.
I prefer silver and gold. Just old fashioned i guess.
Crypto is about to learn. The banks have already gotten control of it. They crashed it just to buy it up. It's why it's close to 40,000. Once sound money is reestablished, crypto will drop.
In the coming decades, we are going out into space and we will mine asteroids for precious metals. So how sound or valuable would money be that's backed by gold if there is an almost infinite supply of gold out there?
that's what happened to the Spanish empire
they found so much gold in the Americas they had hyper inflation and the country fell to pieces
Admiral Drake sinking most of their ships and British pirates did the rest....
There is a definite value to things like Monero, and to a lesser extent Bitcoin, but until we have some confidence that
• one group or government won’t have >51% of the hashrate • we can have quantum resistant coins • the average person can disable Intel Management Engine / AMD PSP •the average person understands that all your transactions are public and forever on the blockchain
crypto won’t succeed en masse. It is still valuable as an intermediary, a way to move your money anonymously (if you know what you’re doing) and a way to have fun doing things you shouldn’t be doing.
Bitcoin transactions are only anonymous to true retards.
BTW: I used correct term.
netC
If you don’t know what you’re doing, it can be traced. If you know the very basics of anonymity, you can be completely anonymous. I’m sorry but 20 years of programming makes a person very salty.
Sorry to break it to you, but I am IT Security expert with 35 years of experience.
So, no I disagree with you.
netC
I agree with this. Social media was a great innovation and connected the world radically, but look what happened there.
Not a good idea as we will be canceled at some point. People forget so easily that we are domestic terrorists at this point!
Crypto proponents talk like it's freedom from the banks and fiat currency, but they forget that nothing is stopping govt from writing laws that would govern crypto.
They can write whatever laws they want, still won't stop people from transferring BTC to eachother.
You dont even need the internet, BTC can be sent via radio if we have to.
It's decentralized... You dont have to buy it or use it... No one controls it...
?❤️??
Cash is king and is untraceable any other modus of payment some MF or bank is taking thier cut outa your money fuck that , as the old saying goes ' money ( cash ) talks bullshit walks'
I agree with the premise, the whole system is dependent on rational actors, and particularly rational miners. But where is that rationality going to be when there are no hashes left to mine? On top of the fact that bitcoin itself doesn't have any store of value - you can liken it to tulips or beanie babies but calls for it to be a reserve currency I don't think so.
I'm pretty interested with the prospects of Kinesis Money though, which digitizes claims to gold and silver on the blockchain. This can be worldchanging, and when compared against bitcoin, what does Gresham's Law say about what people will spend vs save?
True that! netC
lol
Dogecoin ???
im up $10,000 the last 24 hours. suck it.
You sound as happy as if Satan himself sucked your dick.
Good luck dancing with CIA creation!
Every traitor explains that money's was just too good to pass by.
There are more ethical bets.
netC
you're a loser. listen to yourself. pathetic. go cry in a corner loser.
CIA creation, eh?
https://www.newsbtc.com/news/bitcoin/bitcoin-connection-cia-satoshi-nakamoto/
Please pass on my thanks for making it 100% open source on https://github.com/bitcoin/bitcoin where thousands of eyes have reviewed the code and modified it constantly over 10 years without CIA approval.
You could too, if you weren't so busy calling others retards.
What are you going to poop from Uranus, next?
There's a difference between a decentralized blockchain, and a banker controlled crypto. One is freedom, one is no different than PayPal after you post something controversial on social media.
I’m a cryptocurrency expert who has been studying it since 2014 and had many articles written about to my research and spoken to some of the best investors in the world. I think you are a fool who thinks you know more than you actually do.
He’s correct but did not say why. India is outlawing cryptocurrency it doesn’t issue here. I’ve seen proposals to do the same here. It can happen.
Nice try, Janet Yellen
Anyone remember when some Aussie guy was credited with creating bitcoin? Within a few hours he had swat teams crashing through his windows.
Regression ftw /s
You are seriously misinformed on this subject.. no disrespect as there is alot of fake news on this as this new technology threatens trillion dollar empires.
Since 2010, inflation has turned $1 into 84 cents while $1 invested in Bitcoin would be worth $274,000.
This is the first time in human history where a deflationary peer to peer currency has been created with a finite number of units ... 21 million. Every fiat currency system throughout history has put a hidden tax on its currency called inflation, that robs the value of it 2-3% / yr.
They print more and more (more dollars chasing fewer goods) and leads to the pricing of everything to go up as well , and typically as we have seen the salaries don't keep up with this.
Satoshi Nakamato (the creator of bitcoin) has already been taken out I believe. Please read his whitepaper to gain a further understanding of how the system works . It is not that long and is suprisingly easy to read .
I also believe that the bitcoin core developers group has already been infiltrated (AXA equitable 100 million infusion) and this would explain how they have continued to limit the blocksize to 1MB to prevent it from becoming a medium of exchange as that is their biggest fear. They have intentionally done this to cripple it (by only limiting a certain amount of transactions per second to try to keep it as a store of value and have increased the fees on it.
I prefer the ethereum chain or Bitcoin cash as it is faster and cheaper to transact on.
You’re lost pal. You have to understand why Bitcoin has gone up. It’s not organic, it’s being inflated and manipulated but people like you can’t seem to wrap your head around that. The price is fake. Anyone buying it is an idiot, and anyone shilling it is even stupider. Continue to be a useful idiot if you wish. You can only lead a horse to water.
Forex, derivatives all this speculation destruction and value out of thin air. That’s where we need to move away from and I believe we will. Probably everyone will have one year to change their cash from crypto to new gold backed currency. Also must prove legitimacy profit and show paper trail.
Competition is good in all things.
GME, DIAMOND HANDS< SILVER=LARP
Right on bro!
netC
https://en.bitcoin.it/wiki/SHA-256
Right. And explain to me now how having a back door to the key signature is not an issue.
Bitcoin does use SHA256. You are wrong. Period.