But it's Saturday doesn't. Like my homework that the dog already ate.
Seriously, if some one invented a crypto where each coin represents energy that can bet utilised rather than already expended, it will become the crypto with intrinsic value that can never be manipulated
Each BTC represents the past carbon used to mine it, and it can't be manipulated as the ledger is stored simultaneously on millions of nodes worldwide.
I swear there are forces on GAW trying to psyop the awakened off crypto
I’m a dumb one when it comes to crypto and stock markets etc but how do you mine crypto? Like I get how gold silver and diamonds are mined but how is something mined out of nothing or that’s what I see it as
Each BTC represents the past carbon used to mine it
Correct
it can't be manipulated as the ledger is stored simultaneously on millions of nodes worldwide.
Correct
So think about what you are saying. By burning carbon you can prove the authenticity of the transactions. But what do the transactions themselves represent? Ownership of bits. What do the bits represent? Nothing except the fact that you burnt carbon for this.
So where is the value coming for these bits ? By people who think it has value.
BTC is nothing but digital FIAT with perceived scarcity, that requires burning more and more energy to keep this going.
This is why the value of BTC goes up and down in such wide swings because the FIAT in real life (fed printing money) can used to value it higher or lower, at their whim.
What you need in reality is something that has all these qualities - distributed, decentralized, secure transactions, BUT also an additional quality - intrinsic.
Lets say there is this new crypto that not only guarantees transactions are secure, but in addition it guarantees that you can convert the bits to a fixed amount of potential energy. If the Cabal now tries to over value it or devalue it, people can take part in arbitrage and stabilize the value.
So if someone tries to overvalue these coins, you simply spend that much energy, purchase the coins an sell it to the Cabal to get more bits.
If someone tries to undervalue these coins, they have to sell that same amount of energy for less coins, in which case you buy the energy for cheap and sell it at the fixed amount.
A crypto like this can never be manipulated, and always has intrinsic value regardless of what people think.
This is why the "freedom currency" is not yet implemented. It will be, there is no doubt, but BTC is not that.
I swear there are forces on GAW trying to psyop the awakened off crypto
May I suggest that lacking humility in the pursuit of knowledge will lead to downfall? Awakening is not a state but a process.
No but neither is the dollar or anything else. The entire worlds financial system is fiat and nothing backs it. I guess one could argue the military backs it or oil but the oil argument is really the military argument Might makes right?
BTC is threat to the current financial system and that is enough backing for me.
Is BTC backed by anything?
Yes, by the carbon spent to mine it
But it's Saturday doesn't. Like my homework that the dog already ate.
Seriously, if some one invented a crypto where each coin represents energy that can bet utilised rather than already expended, it will become the crypto with intrinsic value that can never be manipulated
Lt General Kwast and Major Lowrey enter the chat.
? Saturday?
Each BTC represents the past carbon used to mine it, and it can't be manipulated as the ledger is stored simultaneously on millions of nodes worldwide.
I swear there are forces on GAW trying to psyop the awakened off crypto
I’m a dumb one when it comes to crypto and stock markets etc but how do you mine crypto? Like I get how gold silver and diamonds are mined but how is something mined out of nothing or that’s what I see it as
This is why I hate typing on a phone. u/#topkek
Correct
Correct
So think about what you are saying. By burning carbon you can prove the authenticity of the transactions. But what do the transactions themselves represent? Ownership of bits. What do the bits represent? Nothing except the fact that you burnt carbon for this.
So where is the value coming for these bits ? By people who think it has value.
BTC is nothing but digital FIAT with perceived scarcity, that requires burning more and more energy to keep this going.
This is why the value of BTC goes up and down in such wide swings because the FIAT in real life (fed printing money) can used to value it higher or lower, at their whim.
What you need in reality is something that has all these qualities - distributed, decentralized, secure transactions, BUT also an additional quality - intrinsic.
Lets say there is this new crypto that not only guarantees transactions are secure, but in addition it guarantees that you can convert the bits to a fixed amount of potential energy. If the Cabal now tries to over value it or devalue it, people can take part in arbitrage and stabilize the value.
So if someone tries to overvalue these coins, you simply spend that much energy, purchase the coins an sell it to the Cabal to get more bits.
If someone tries to undervalue these coins, they have to sell that same amount of energy for less coins, in which case you buy the energy for cheap and sell it at the fixed amount.
A crypto like this can never be manipulated, and always has intrinsic value regardless of what people think.
This is why the "freedom currency" is not yet implemented. It will be, there is no doubt, but BTC is not that.
May I suggest that lacking humility in the pursuit of knowledge will lead to downfall? Awakening is not a state but a process.
I only have some XRP, XLM, and DOGE
Make sure they are of the exchanges and on your cold wallet
No but neither is the dollar or anything else. The entire worlds financial system is fiat and nothing backs it. I guess one could argue the military backs it or oil but the oil argument is really the military argument Might makes right?
BTC is threat to the current financial system and that is enough backing for me.
Just think there are way better options
Only by your faith that bitcoin will be more valuable than the faith in credit of the united states government.
Look up the five qualities of money / currency and tell me how it compares to gold.