I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.
Criminals use it because it allows some degree of privacy. Where we went wrong in this world was targeting privacy instead of crime, that's where a lot of our freedom went. The key point, though, is that Bitcoin (and most other crypto) are fixed supply. They get harder to mine, and there will never be more of them. Bitcoin is capped at, I think, 21 million - if people decide it has value by being outside the Fed, those who own even a single Bitcoin will be the rare few.
Drug dealers all over the world collect usd.. you think el chapo is stacking up bitcoin or 100s? Jus saying it doesn’t mean anything because a bad actor used it..
Also, consider: crypto requires electricity, electrical connections and an internet. you cannot pass crypto hand to hand unless you've got some form of these working for you. Unlike certain other things.
Postulation:
Set up crypto as a wild, free market for speculators & (investors). > Get them to pour their investment assets into crypto. > Meanwhile, buy up as much of the world's gold, silver and precious metals supply as you can. > Scandalize crypto as a dangerous, unregulated form of 'currency'. > Develop and mandate government (central bank) controlled digital currencies as the solution' to the crypto volatility, danger and scandals. > Force conversion of standard currency into digital currency that can be controlled by govts. > Implode the fiat currency system after having bought all the gold and silver, forcing the populations to become entrenched in the 'new' digital ID, digital currency, total surveillance slave system.
Mined by solving cryptographic equations to prove originality to generate unique tokens that can be exchanged for anything.
The first thing mankind wrote down when inventing writing was a ledger.
Just because you don't understand something doesn't affect it's legitimacy.
Bitcoin was literally invented to be the antidote to the central bank system after the 2008 bankers bailouts.
I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.
Criminals use it because it allows some degree of privacy. Where we went wrong in this world was targeting privacy instead of crime, that's where a lot of our freedom went. The key point, though, is that Bitcoin (and most other crypto) are fixed supply. They get harder to mine, and there will never be more of them. Bitcoin is capped at, I think, 21 million - if people decide it has value by being outside the Fed, those who own even a single Bitcoin will be the rare few.
But look at all the criminals using USD
Drug dealers all over the world collect usd.. you think el chapo is stacking up bitcoin or 100s? Jus saying it doesn’t mean anything because a bad actor used it..
Bitcoin and the block chain are two separate things. The blockchain might have some usefulness, Bitcoin, not really.
You can use Bitcoin to easily pay people instantly anywhere in the world.
Very much agree.
Also, consider: crypto requires electricity, electrical connections and an internet. you cannot pass crypto hand to hand unless you've got some form of these working for you. Unlike certain other things.
Postulation:
Set up crypto as a wild, free market for speculators & (investors). > Get them to pour their investment assets into crypto. > Meanwhile, buy up as much of the world's gold, silver and precious metals supply as you can. > Scandalize crypto as a dangerous, unregulated form of 'currency'. > Develop and mandate government (central bank) controlled digital currencies as the solution' to the crypto volatility, danger and scandals. > Force conversion of standard currency into digital currency that can be controlled by govts. > Implode the fiat currency system after having bought all the gold and silver, forcing the populations to become entrenched in the 'new' digital ID, digital currency, total surveillance slave system.
Presto, you've got a plan!
Invented being the operative word. Invented out of thin air. Like the FED creates money- out of thin air.
There's nothing backing the Feds currency as they can choose to increase supply.
Nobody can change the supply of BTC
Let's NOT talk about the Epstein network and connection with the developers of BTC, at RMIT etc. No, let's not.
If folks had NOT been pouring billions (ie. a trillion) into cryptos, where would they have been putting it?
Answer: what had the highest rate of purchase by central banks in 2022, highest (largest volume) for 50 years?
There's no inherent value in bitcoin. It's not worth the paper it's printed on.
It's not printed on paper and it's worth ~23k USD