The Federal Reserve hired BlackRock, which manages $7 trillion in assets, to run a portion of their quantitative easing program. This is a glaring conflict of interest. Not only is BlackRock paid $8 million per year to run this scam, BlackRock could buy its own bonds out.
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What would help is if small business owners took it upon themselves to take bitcoin as payment. People should start keeping small amounts of money in the bank and buy gold silver and bitcoin. By keeping money in the banks you are giving them money to use for their fractional reserve scheme. Move your money out and convert to dollars when you need them.
If more small businesses take butcoin, we can convert into fewer and fewer dollars over time and destroy their system.
Can anyone explain how bitcoin works and if it can be trusted?
The true value of bitcoin comes from the blockchain technology it runs on. There's There's ledger that each transaction is written onto and is audited by computers around the world (mining) so in order for someone to fake transactions, they would have to be able to spoof a real transaction and write a new ledger for each computer around the world connected to the network. That's impossible. So yes, it's safe. When you hear about people "hacking bitcoin" they stole bitcoin from an exchange by social engineering or stealing passwords, not by hacking bitcoin. That's like saying someone hacked dollars that were sitting in a bank account when it was really some asshoke stealing from an old person who gave their information away.
Your bitcoin can sit in a wallet, which is like a bank account. Some coins and tokens, like ethereum, use resources to function, so you can stake your coins for interest. You're giving the network resources to function and in return you get a % reward as a thank you. You don't have to stake, it's an option. Miners are getting rewards by leasing their computer power to the network so when you buy something, the transaction happens and the ledger is kept up to date and checked against the previous version of the ledger for security.
The value of Bitcoin comes from its hash rate.
Bitcoin does not have value because it simply has a hash rate. It has value because it has real use. Forget the dollar value, we're talking about actual use case value.