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
BTC is mined by the BTC node network verifying transactions. As the network grows and by design over time, the calculations get exponentially more difficult requiring more and more CPU/GPU calculation powered by carbon (electricity)
The result of all this stored energy is what "backs" BTC.
Don't forget, it's the only non-inflationary currency with a fixed supply.
Everything else is FUD (fear, uncertainty, and doubt)
Buy and hold as much as you can on a hardware wallet
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.
Where did I lack humility? By suggesting there's disinfo here?
Bitcoin is not fiat by definition; it's value is intrinsic as a record of the effort invested in making it. It doesn't have intrinsic value like beef, which is a good. We need currency to exchange for goods.
Stored BTC, like any stored currency literally is potential energy, as it can be used to power any number of processes.
I don't disagree that it's imperfect, but it works, is ubiquitous, and already lifting millions of poverty imposed on then by cheating governments and central banks.
You don't have to own any and can store your wealth wherever you choose, but in case you hadn't noticed the storm is arriving and you may want to consider grabbing a working boat.
Where did I lack humility? By suggesting there's disinfo here?
By suggesting you know everything there is to know in this area and anything you dont agree with is disinfo.
Bitcoin is not fiat by definition;
You cannot "define" something to be "not fiat". Fiat has a meaning and anything that fits that meaning is fiat. Bitcoin has value only because the people driving its value (which is a very small fraction of the total holders) say "let it be so".
it's value is intrinsic as a record of the effort invested in making it.
Value of the effort invested in making a transaction is not the same as value of the transaction itself. Value of the record of the transaction is intrinsic, not what the transaction represents.
as it can be used to power any number of processes.
Bitcoin is a digital record. Using those numbers you cannot power anything. You feel like it can power things only because there are people sitting giving it value for whatever reason, and that value can be used to power things. When those people are gone, there will be no value and so no powering.
Intrinsic is something that has a value by itself, not because people agree it has value.
I don't disagree that it's imperfect, but it works, is ubiquitous
It can never replace currency completely. So its not just imperfect, but unsuitable, by design. Happy to argue this in a separate thread if you like.
and already lifting millions of poverty imposed on then by cheating governments and central banks.
Again, an illusion hanks to he FIat currency that backs it. The day the Cabal dumps all their holdings, or when all the exchnages disappear, all these people will become penniless. Because it has no intrinsic value.
but in case you hadn't noticed the storm is arriving and you may want to consider grabbing a working boat.
I sincerely hope you have, as contingency for the impending storm, other alternatives beyond bitcoin and crypto.
? 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
BTC is mined by the BTC node network verifying transactions. As the network grows and by design over time, the calculations get exponentially more difficult requiring more and more CPU/GPU calculation powered by carbon (electricity)
The result of all this stored energy is what "backs" BTC.
Don't forget, it's the only non-inflationary currency with a fixed supply.
Everything else is FUD (fear, uncertainty, and doubt)
Buy and hold as much as you can on a hardware wallet
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.
Where did I lack humility? By suggesting there's disinfo here?
Bitcoin is not fiat by definition; it's value is intrinsic as a record of the effort invested in making it. It doesn't have intrinsic value like beef, which is a good. We need currency to exchange for goods.
Stored BTC, like any stored currency literally is potential energy, as it can be used to power any number of processes.
I don't disagree that it's imperfect, but it works, is ubiquitous, and already lifting millions of poverty imposed on then by cheating governments and central banks.
You don't have to own any and can store your wealth wherever you choose, but in case you hadn't noticed the storm is arriving and you may want to consider grabbing a working boat.
By suggesting you know everything there is to know in this area and anything you dont agree with is disinfo.
You cannot "define" something to be "not fiat". Fiat has a meaning and anything that fits that meaning is fiat. Bitcoin has value only because the people driving its value (which is a very small fraction of the total holders) say "let it be so".
Value of the effort invested in making a transaction is not the same as value of the transaction itself. Value of the record of the transaction is intrinsic, not what the transaction represents.
Bitcoin is a digital record. Using those numbers you cannot power anything. You feel like it can power things only because there are people sitting giving it value for whatever reason, and that value can be used to power things. When those people are gone, there will be no value and so no powering.
Intrinsic is something that has a value by itself, not because people agree it has value.
It can never replace currency completely. So its not just imperfect, but unsuitable, by design. Happy to argue this in a separate thread if you like.
Again, an illusion hanks to he FIat currency that backs it. The day the Cabal dumps all their holdings, or when all the exchnages disappear, all these people will become penniless. Because it has no intrinsic value.
I sincerely hope you have, as contingency for the impending storm, other alternatives beyond bitcoin and crypto.