Elon Musk / Tesla making financial moves in Bitcoin before The Great Awakening
(media.greatawakening.win)
BREAKING NEWS
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How is it finite? And where has it been proven? Truly curious.
A 1 minute search would show you how it's finite. You have strong opinions about something you know nothing about.
You're a dumbass, it's as finite as a blackboard that says 2+2 = 4. It's designed to allow at any time a "consensus" to say 2+2+2=6.
What you're actually trying to say and don't grasp is:
Which looking through history would immediately disprove as borderline madness.
So you're not hedging your bets because you would rather be pedantic and double down on a hypothetical? I'm not a bitcoin technical expert and based on your statements all across this thread, you portray yourself as one. So help us plebs out, where did you put your money?
It's not pedantry to point out the fundamental assumptions of the scarcity of BTC is beholden to whatever the consensus of the hashrate dictates it is. It's not a "Hypothetical" that's literally how it technically works. I have integrated crypto payment services for bespoke e-commerce sites that were trying and largely failing to operate away from ever increasingly regulatory pressures. I'm not here to tell you where to put your money, but when the lights go out a bucket of shit will be worth more than BTC, you can burn shit, fertilise plants with it and make waddle and daub construction. The only variable here is the degree to which people do not like that fact because it hurts the emotional defense of the fundamentally flawed thing that bitcoin is. The fact you're trying to dab on people for "not knowing anything about" btc whilst being deep in platos cave with it yourself is basically the support that BTC has. I think BTC is fine to invest in, it's no better or worse than ukrainian crop futures, there's clearly a lot of positive market sentiment behind it and that means your money is kinda maybe likely to go up as part of a balanced folio but it solves no great pressing problems in the world, adds quite a few more, and should IMO be put into the HOF as the conceptual patriarch to better solutions out there. A universalist system wherein the government and the people you interact with can freely look up how much wealth you have and where you spent it before now whilst gobbling up terawatts of power that has absolutely zero commercial or industrial use and is at risk of legislation at any time or a subversive take-over in a decade or two or three is what btc is, nothing more, nothing less.
For investments, I have my health, an offline and digital library, skills I can pass on, and a variety of precious metals. I don't invest in crypto except where there's an obvious pump and dump coming, I use crypto on occasion because it was made for using, not hording. Whether XMR/Eth/BTC etc is 10 cents or 1m per makes no difference to me.
Being finite is a feature of certain types of cryptocurrency. Some cryptos have finite number (Bitcoin has 21 million), and others have infinite amounts (generated by mining). That feature is defined by the formulas and computer code that describe the Blockchain protocol (the agreement that everyone uses when they interface with the Blockchain).
How can you prove it? Computer Science. You can examine the source code and the formulas for yourself. Then you can compile it to an executable program.
When you run the executable program, it interfaces with the Blockchain protocol and works.
If the software is not right, it won't interface with the Blockchain. Since all the miners use the same software (consensus), someone cannot come along with modified software and change the blockchain, except in a 51% attack.
In the 51% attack scenario, a bad actor (say the CIA or China) throws enough computing power at the Blockchain to provide a majority of the mining computational power. They can then "Double-Spend" and change values in Bitcoin wallets.
The PROBLEM with a 51% attack is that the bad actor is then left with worthless Bitcoins. Why? Because EVERYONE will know when the Blockchain is attacked, and at that point, everyone abandons the Blockchain. The stolen coins become worthless because no one will give money for coins on that Blockchain.
I'm not following. Not trying to be a jerk but it's something that I just don't understand. Mining?
And what is the cost of running the computer and what does that do to the true value of the coin?