Yeah the changes they instituted during the fork of BTC was how the swamp took over. But the problems go way beyond just that.
Here is my biggest gripe. There is no single commodity that has been consistently bought and sold for pure BTC without any middle men or currency conversion in the mix.
If enough people really believed in BTC, this would have happened - either gold / silver or real estate or anything else. If enough people truly believed that BTC holds value and USD is the one getting devalued, and put their BTC where their mouth is, and used BTC as the true means of exchange of goods, guess what would have happened?
The USD (FERN) would have collapsed by now.
If BTC only works in a free world but not in a corrupted world, how would it stop future corruption ?
There are a lot of cool things happening in the payment space though, but this is a vendor supplier economic loop that needs to be dealt with. Vendors cannot keep crypto revenue if their expenses towards their suppliers are in fiat. Some places in Australia and the Caribbean islands have started to deal with this and do not convert more than necessary.
Also the naked shorting fraud that the banking industry are getting away with point to the face that money will never work if there is no integrity in the population to deal with actual corruption like you suggest here.
I envision this is now more of a drip drip flood, where the creator of OG Bitcoin (now BCH) saw a potential for a massive shakeup of the corruption in the release of this technology.
The battle for our future is real and tether is just another corrupt tool that have been able to cause a lot of destruction because of the corrupt people in charge of law enforcement.
Bitcoin have to a massive extent exposed universal plunder.
Like... How fucked up and immortal did the FED seem in 2008 vs now in 2024? Only 14 years since the release of the Bitcoin Whitepaper and the actual shutdown of the FED seems to be only one election away.
Not to forget that during Trumps previous term the FED got placed under the Treasury. Absolutely amazing!
but this is a vendor supplier economic loop that needs to be dealt with. Vendors cannot keep crypto revenue if their expenses towards vendors is in fiat.
This brings up another crucial problem with BTC (and all cryptos so far). There is no intrinsic value to these cryptos, and there arent enough people in all areas of economy who believe in its value.
If a crypto has an intrinsic value, no one can manipulate it. People can always arbitrage any manipulation attempts and not only make money, but also thwart the manipulation.
An intrinsic crypto example would be one where you add your computing devices to the network, and get paid in a crypto for each unit of compute you allow access to. Every crypto represents an unit of compute. If someone can build this efficiently, it will end the current financial system in short time.
I envision this is now more of a drip drip flood, where the creator of OG Bitcoin (now BCH) saw a potential for a massive shakeup of the corruption in the release of this technology.
You are correct, but I would qualify this a bit further. OG Bitcoin was an double-edged sword endeavour that the Cabal allowed the creation of to absorb the $25T bank bailouts afteer 2008, without causing uncontrolled inflation. They put in enough loopholes in the tech to make sure it wont get out of their control, one way or another.
The WHs, allowed this to happen, but ensured this would give people the taste of a "freedom currency" and also expose the Bank frauds. Specifically, they used Cabal's tool as a tool for Financial Great Awakening.
Now people have gotten the taste, there is no putting that genie back in the bottle. When the time is right, a perfect implementation of this technology will be released and people will be ready for its implications.
I never understood where the intrinsic value proposition came from. Value is subjective, as in a human sentric thing, not an item sentric thing.
Nothing have intrinsic value from a Austrian economics perspective (IE, Frederic Bastiat, Ludwig von Mises, Murray Rothbart, Ron Paul are all Austrian economic scholars).
For the rest of your text I need to absorb it a bit as I have to read that perspective before and I'm headed out the door now 😅
Wait until you see what Nockchain is going to build for medical research and decentralized peer network, zero knowledge data validations in El Salvador.
Its a distributed ledger. As long as someone solves accurately, cheaply and efficiently the problem of double spend in a distributed ledger, without compromising the distributed nature or the security and anonymity, it would be a HUGE deal.
If not a distributed ledger, the only other option is (as far as my brain can think), an offworld Ledger where the entries are stored and protected from tampering by an benign off world entity
Well yes and no. The cryptography is such that if you change entries in past the hash will no longer match and thus you'll be able to tell the block was changed. And since the blocks are "chained" then that would invalidate all blocks after the one that was modified. But, yes, if you have only a single copy maintained by an unscrupulous entity they could change past entries and recompute the hashes and update those also.
However, still not convinced blockchain, or maybe more correctly a distributed blockchain is that useful. People have suggested we need blockchain to secure our elections. How would that help? If someone wants to flip votes from Biden to Trump they can still do it. You can just commit the fraud before reporting. You can even commit the fraud after reporting as any ledger will need a mechanism for applying adjustments. So I correctly record 85 votes for Trump and 15 for Biden. Then someone decided to flip those and reports -85 for Trump and -15 for Biden and then records 85 for Biden and 15 for Trump.
A gold backed digital currency would be awesome for exchange purposes. I too am an old man (well middle aged anyways) and lean toward physical over digital but I see the merrits of both.
16lbs of gold is a lot to carry on hand sure but not much in regards to the ability to possess securely.
My problem for digital currency being "the fiture" is just that if you base your wealth on something you can only see on a computer screen is what happens if the lights go out? What happens if something is hacked? What happens if someone else doesn't want your digital monies for purchase or trade? The two working together would be a great failsafe.
I used to think the same thing but the Bitcoin network is incredibly secure. It's decentralized as well so even if all electricity goes down in the US your Bitcoin is still secured on the Blockchain. They would literally have to EMP the entire world to take down Bitcoin and even then I know some bitcoin miners would still run since they're underground and shielded, many miners are actually using old coal mines to run their equipment in since it stays so cold down there.
if you base your wealth on something you can only see on a computer screen is what happens if the lights go out?
Are you talking about BTC, or the supposed money in your bank account, which is nothing more than data on their server, that you can only see on a computer screen?
I'm old enough to remember when credit cards began, and people doubted them because of the inconvenience, and "not every place accepts them."
Times change with technology, it's called progress. None of us can predict the future; we're all on this ride together, and I guess we'll all know, eventually, how things turn out as we move forward.
You theories of a death of Bitcoin, you can say the exact same with our funny money of today and even precious metals. System down- how do you get your 1's & 0's on a screen into your hand. Hacked- what about someone robbing your physicals. Someone does not want your digital- you gotta have trust that your physicals are real or weigh correctly. Bitcoin is trustless & fungible 1 Bitcoin is 1 bitcoin
A kilo bar is about the size of an iPhone; so a little over 6 iPhones.
I’m not a Bitcoin believer, but I hope it goes to a million bucks for you.
I’d take the metal though (if it was an option).
That's a fallacious leap of logic. You need concrete proof to show that Bitcoin was actually created by intelligence agencies.
And suggesting you use kyc to find someone's private wallet is the equivalent of assuming someone still is in possession of gold because of a bank transaction. There's always plausible deniability. ie. "I lost my gold in a boating accident". Unless you physically go to someone's home to confiscate their Bitcoin keys (like you would gold), you won't ever know with 100% certainty whether they own that Bitcoin.
The FBI, with significant assistance from Sony and Citibank, continued to investigate in cooperation with Japan’s National Police Agency, the Tokyo Metropolitan Police Department, Tokyo District Public Prosecutors Office, and JPEC (Japan Prosecutors unit on Emerging Crimes). As a result of this coordinated effort, investigators obtained the “private key” – the rough equivalent of a password – needed to access the Bitcoin address. All the Bitcoins traceable to the theft have been recovered and fully preserved. Ishii has been criminally charged in Japan.
Expand your horizons fren. The info I gave you is just the tip of the iceberg. Once you realise there is more to dig, and you actually start digging, you can find so much more.
No one (wise) who invests into Bitcoin stores their key phrases digitally. They have them hand-written on paper and stored in a safe where they keep their gold and silver. In fact, it actually would be best if you can memorize your key phrases so you leave nothing physical for them.
If they were to do this on a national scale, it will stir a civil war. We learned from Roosevelts gold confiscation order.
A wise person, upon seeing news like this, will not assume that someone had a hand-written paper waiting for the FBI to grab hold of. A wise person will ask the question "How the heck does FBI keep finding Bitcoin keys?"
They would if you are purchasing it online or with a card of some sort. Purchasing it in person with cash is essentially the best way to exchange bitcoin for total privacy too.
I'm not sure if you're trying to be helpful, or if you're a troll. I'll give you the benefit of the doubt and respond earnestly.
I do not purchase my metal in any way that could ever be traced back to me, and anyone who does is a couple eggs short of a dozen. But thank you for your concern.
Exactly what wakeupworld said, if the power is out world wide then worries about bitcoin is pointless as there will be much larger problems. Problems shift to survival and not whether a currency is available.
Electricity has only been a thing for 120 years. However did we survive as a species prior to that? 🙄
Assuming you were raised properly, survival in a non electric world is dead simple, especially if you have money that doesn’t need electricity or the internet to be used.
No one in the west alive today has lived without electricity, and you think things would be hunky dory because people 100 years ago lived without power?
Yes for some it would be ok, maybe even for many, but mostly it would devolve into a huge problem in the short term. All the city dwellers would leave to the rural areas looking for food and it would literally be a fight for survival. People today are not equipped to live without electricity.
I hear your argument for precious metals and I have them as well. Metals would come into use a bit later after the initial shock. Sure then it would be ok, but the first few months would be mayhem and I don't think people would be that concerned with bitcoin. I have bitcoin, and I know exactly where my focus would be in a grid down scenario. BTC would be very low on my priority list. Defense of my family and property would be #1.
The thing is, once the power is out it is gonna be too late to use money, in any form, to save you. You are supposed to be making those preparations now.
What are you going to be buying and where with gold when the grid goes down for weeks or months? Gold would be just as useless as crypto. Better to have guns are gardens at that point.
How is someone going to test your gold & silver for purity? If grid goes down, the needs and use cases of precious metals strongly declines as all forms of traditional money do. Commodities will then rule
Y'all been saying that for years. "WhEn ThE cRaSh CoMeS". Only thing that's been happening is BTC's monetary value skyrocketing. Meanwhile your fiat funny money is going down the shitter.
I've stopped even trying to answer that. People have used all sorts of weird things for money - notched sticks, stones with holes in, special seashellls. Tobacco used to be a prison currency but I hear these days it's pot noodles.
So long as everyone recognises it as money and so long as you can't just generate a new one easily then you're good to go. Yes I know Fed printer go brrr but they've got enough guns to make it stick.
Are you really flexing on gay shit? You do realize BTC is the ultimate blackmail backdoor currency rn.. fuck off shill. It's a fucking front and you know it
I mean I'm okay with digital currency. It's no different than investing in chickens or action figures, everything can have a price and be traded, and if that's what you want to invest in, go right ahead. It's specifically BTC that I'm against, and it's a good litmus test to see who's a shill or not when you make the differentiation. Anyone that has done beyond reddit teir research knows BTC has been propped up and blown way over value.. think about that, how did it grow so quickly? No way it was organic from individual public investors and mining alone.
a person who adheres or belongs secretly to a party, sect, or other group
And jaws dropped, he said, when he explained the theory that Christopher Columbus was a "crypto" or hidden Jew.
—Kim Vo (*QUITE an interesting sentence example from Webster dictionary!!!)
CRYPTOGRAPHY sense 2
CRYPTOCURRENCY
A specialty finance firm … is the first to offer brokers the option to get their commissions paid up front, in crypto, underscoring how digital coins are becoming a more mainstream part of financial transactions.
—Jennifer Schonberger
I had a hundred dollars of bitcoin in my cart ( actually about to buy) but wasn’t sure about the wallet thingy. It was 3 dollars a coin! Next day it went to 80 something and I said forget about it.
My personal belief is that Bitcoin is a White Hat Operation to smoke out those that have been doing money illegally! Two reasons I believe this! First nothing is truly untraceable on the internet and secondly many that have been dodging from moving money via banks have been convinced that Bitcoin is untraceable! See how you smoke them all out!
LOL try accessing your "coins" in a grid down scenario.
In order for BTC to work as a medium of exchange, BOTH parties need - At a MINIMUM:
Electricity
Smart phone or computer - possibly both in some cases
Bitcoin wallet / account
-Email address
Internet access
Knowledge & understanding of how the BTC / blockchain system functions; at least enough to use it; enough to be comfortable to accept it.
You either have to remember your wallet code / key (?) and/or write it down somewhere & hope you never lose it; hope it never gets lost or stolen, etc.
I'll openly admit; I've been in I.T. over half my life - just professionally. Personally, I've been interested in, tinkering, passionate hobby with I.T. for even longer.
I don't fully understand BTC....yet..... I need to make the time to sit down & research & learn about it.
Just like I also want to sit down & research & learn more about Quantum Mechanics, Zero Point Energy (want to research if real or not), Gobekli Tepe, and other challenging, complicated topics.
If I need to dedicate anywhere near the time, effort & mental resources towards what you want me to believe is "money", as I do towards theoretical physics + such; your "money" probably isn't good enough for universal adoption. It's probably not a great idea overall.
That complex a system, in order to achieve something that is so simple, is never a good sign.
Money is supposed to FACILITATE transactions; not make you sit & study it for hours.
With Gold & Silver you need:
Hands.
Open your hands, here's my gold / silver, in exchange for whatever you have that I want.
Not a hard decision to make....
I'm not shitting on BTC; I can't decide if it's a scam / CIA ruse or not, but since OP said "try that with gold"..... 😜🙏👌😘
Quick, convert it to gold and silver before BTC crashes!
(And before IRS tracks the address and comes for tax)
You're talking about close to 16 lbs of gold if my math is correct. Bitcoin is the future, old man
Blockchain technology is the future, agreed. But not Bitcoin. Too many problems for it to become the "future"
BTC is a swamp/mossad takeover now.
Bitcoin Cash did their due diligence to avoid the takeover.
Bitcoin Cash is the technical real Bitcoin.
The whitepaper has the reasoning why.
Yeah the changes they instituted during the fork of BTC was how the swamp took over. But the problems go way beyond just that.
Here is my biggest gripe. There is no single commodity that has been consistently bought and sold for pure BTC without any middle men or currency conversion in the mix.
If enough people really believed in BTC, this would have happened - either gold / silver or real estate or anything else. If enough people truly believed that BTC holds value and USD is the one getting devalued, and put their BTC where their mouth is, and used BTC as the true means of exchange of goods, guess what would have happened?
The USD (FERN) would have collapsed by now.
If BTC only works in a free world but not in a corrupted world, how would it stop future corruption ?
Very much agree with you.
There are a lot of cool things happening in the payment space though, but this is a vendor supplier economic loop that needs to be dealt with. Vendors cannot keep crypto revenue if their expenses towards their suppliers are in fiat. Some places in Australia and the Caribbean islands have started to deal with this and do not convert more than necessary.
Also the naked shorting fraud that the banking industry are getting away with point to the face that money will never work if there is no integrity in the population to deal with actual corruption like you suggest here.
I envision this is now more of a drip drip flood, where the creator of OG Bitcoin (now BCH) saw a potential for a massive shakeup of the corruption in the release of this technology.
The battle for our future is real and tether is just another corrupt tool that have been able to cause a lot of destruction because of the corrupt people in charge of law enforcement.
Bitcoin have to a massive extent exposed universal plunder.
Like... How fucked up and immortal did the FED seem in 2008 vs now in 2024? Only 14 years since the release of the Bitcoin Whitepaper and the actual shutdown of the FED seems to be only one election away.
Not to forget that during Trumps previous term the FED got placed under the Treasury. Absolutely amazing!
All good points.
This brings up another crucial problem with BTC (and all cryptos so far). There is no intrinsic value to these cryptos, and there arent enough people in all areas of economy who believe in its value.
If a crypto has an intrinsic value, no one can manipulate it. People can always arbitrage any manipulation attempts and not only make money, but also thwart the manipulation.
An intrinsic crypto example would be one where you add your computing devices to the network, and get paid in a crypto for each unit of compute you allow access to. Every crypto represents an unit of compute. If someone can build this efficiently, it will end the current financial system in short time.
You are correct, but I would qualify this a bit further. OG Bitcoin was an double-edged sword endeavour that the Cabal allowed the creation of to absorb the $25T bank bailouts afteer 2008, without causing uncontrolled inflation. They put in enough loopholes in the tech to make sure it wont get out of their control, one way or another.
The WHs, allowed this to happen, but ensured this would give people the taste of a "freedom currency" and also expose the Bank frauds. Specifically, they used Cabal's tool as a tool for Financial Great Awakening.
Now people have gotten the taste, there is no putting that genie back in the bottle. When the time is right, a perfect implementation of this technology will be released and people will be ready for its implications.
I never understood where the intrinsic value proposition came from. Value is subjective, as in a human sentric thing, not an item sentric thing.
Nothing have intrinsic value from a Austrian economics perspective (IE, Frederic Bastiat, Ludwig von Mises, Murray Rothbart, Ron Paul are all Austrian economic scholars).
For the rest of your text I need to absorb it a bit as I have to read that perspective before and I'm headed out the door now 😅
That’s like saying the Constitution doesn’t work because of how bad things have gotten.
None really. Most of them have lost their path and try to be anything but money, so they end up being exactly that (anything but money).
I recommend reading the whitepaper several times and yearly. Mainly to understand the incentive structure of the OG Bitcoin.
BTC lost the plot even at the title of the Whitepaper.😂
Oh god lol you are a Craig Wright believer aren’t you?
Craig WRONG is most likely blackmailed by the Australian (five eyes) government to try to destroy Bitcoin.
He tried like the BlockStream swampers, to take over the real Bitcoin.
He also failed.
Monero is almost exactly like Bitcoin, except for extra encryption / hashing to make transactions anonymous.
Not sure Blockchain is that big of a deal either. Just a ledger that's, I guess, very difficult to make edits to past entries.
Wait until you see what Nockchain is going to build for medical research and decentralized peer network, zero knowledge data validations in El Salvador.
Its a distributed ledger. As long as someone solves accurately, cheaply and efficiently the problem of double spend in a distributed ledger, without compromising the distributed nature or the security and anonymity, it would be a HUGE deal.
If not a distributed ledger, the only other option is (as far as my brain can think), an offworld Ledger where the entries are stored and protected from tampering by an benign off world entity
Yeah, the distributed part I don't consider as a big deal.
But that’s the reason why you can be sure that the past entries have not been changed
Well yes and no. The cryptography is such that if you change entries in past the hash will no longer match and thus you'll be able to tell the block was changed. And since the blocks are "chained" then that would invalidate all blocks after the one that was modified. But, yes, if you have only a single copy maintained by an unscrupulous entity they could change past entries and recompute the hashes and update those also.
However, still not convinced blockchain, or maybe more correctly a distributed blockchain is that useful. People have suggested we need blockchain to secure our elections. How would that help? If someone wants to flip votes from Biden to Trump they can still do it. You can just commit the fraud before reporting. You can even commit the fraud after reporting as any ledger will need a mechanism for applying adjustments. So I correctly record 85 votes for Trump and 15 for Biden. Then someone decided to flip those and reports -85 for Trump and -15 for Biden and then records 85 for Biden and 15 for Trump.
100% spot on… block chain yea, btc neah…. Problem is to many retards think they are the same (mainly the btc crowd)
A gold backed digital currency would be awesome for exchange purposes. I too am an old man (well middle aged anyways) and lean toward physical over digital but I see the merrits of both.
16lbs of gold is a lot to carry on hand sure but not much in regards to the ability to possess securely.
My problem for digital currency being "the fiture" is just that if you base your wealth on something you can only see on a computer screen is what happens if the lights go out? What happens if something is hacked? What happens if someone else doesn't want your digital monies for purchase or trade? The two working together would be a great failsafe.
I used to think the same thing but the Bitcoin network is incredibly secure. It's decentralized as well so even if all electricity goes down in the US your Bitcoin is still secured on the Blockchain. They would literally have to EMP the entire world to take down Bitcoin and even then I know some bitcoin miners would still run since they're underground and shielded, many miners are actually using old coal mines to run their equipment in since it stays so cold down there.
Are you talking about BTC, or the supposed money in your bank account, which is nothing more than data on their server, that you can only see on a computer screen?
Exactly, that's why I prefer tangible assets and value over a number on a screen. I hold no debts and have as little in the bank as possible.
Right. So I go to the bank to withdraw cash to spend in person. Not every place I shop accepts Bitcoin.
I'm old enough to remember when credit cards began, and people doubted them because of the inconvenience, and "not every place accepts them."
Times change with technology, it's called progress. None of us can predict the future; we're all on this ride together, and I guess we'll all know, eventually, how things turn out as we move forward.
You theories of a death of Bitcoin, you can say the exact same with our funny money of today and even precious metals. System down- how do you get your 1's & 0's on a screen into your hand. Hacked- what about someone robbing your physicals. Someone does not want your digital- you gotta have trust that your physicals are real or weigh correctly. Bitcoin is trustless & fungible 1 Bitcoin is 1 bitcoin
Silver is the real future
A kilo bar is about the size of an iPhone; so a little over 6 iPhones. I’m not a Bitcoin believer, but I hope it goes to a million bucks for you. I’d take the metal though (if it was an option).
Metal is about maintaining your wealth, that you earned.
Not a Speculation, on a easily transferable / trackable currency , in the hope of striking it big.
No worries the $ 2 Million he received in precious metal will remain for his PRIVATE PERSONAL use.
If the identity can be so easily verified through Bitcoin, then go ahead, tell us who sent him the money.
Edit: No-coiners here still can't identify who sent it.
Also, tell us who's Satoshi Nakamoto while you're at it.
https://en.bitcoin.it/wiki/Privacy
Well, it's not as secure as people who romanticize it try to portray it as.
At the end of the day, it is still internet traffic at a base (albeit reductionist) level.
You login to a coin exchange on an ip... Do you really think it is anonymous?
Why would anyone hold their coins on an exchange instead of a cold wallet?
I can't answer your first question, but you won't be surprised there's evidence that Q created bitcoin.
KYC. You will subpoena to the exchanges used to fund the accounts.
If you dont use an exchange and never did KYC and still regularly use Bitcoin, you are master and I bow to you.
Satoshi Nakamoto in Japanese:
智 (Satoshi) 中 (Naka) 本 (Moto)
智 - wisdom, intellect, reason
中 - in, inside, middle, mean, center
本 - book, present, main, origin, true, real
Put together, Satoshi Nakamoto = Intellect, Center, Main = Central Intelligence Agency.
Bitcoin uses hashcash proof of work which uses:
SHA256 was designed by NSA.
NSA released SHA-2 one year after Dot-com crash in 2001.
So, Bitcoin is a collaboration between CIA and NSA.
That's a fallacious leap of logic. You need concrete proof to show that Bitcoin was actually created by intelligence agencies.
And suggesting you use kyc to find someone's private wallet is the equivalent of assuming someone still is in possession of gold because of a bank transaction. There's always plausible deniability. ie. "I lost my gold in a boating accident". Unless you physically go to someone's home to confiscate their Bitcoin keys (like you would gold), you won't ever know with 100% certainty whether they own that Bitcoin.
You think that poses any challenge to the Cabal soldiers? There are many cases. Here is one:
FBI Tracks Money to Bitcoin
Expand your horizons fren. The info I gave you is just the tip of the iceberg. Once you realise there is more to dig, and you actually start digging, you can find so much more.
No one (wise) who invests into Bitcoin stores their key phrases digitally. They have them hand-written on paper and stored in a safe where they keep their gold and silver. In fact, it actually would be best if you can memorize your key phrases so you leave nothing physical for them.
If they were to do this on a national scale, it will stir a civil war. We learned from Roosevelts gold confiscation order.
A wise person, upon seeing news like this, will not assume that someone had a hand-written paper waiting for the FBI to grab hold of. A wise person will ask the question "How the heck does FBI keep finding Bitcoin keys?"
Dude they're literally just leaving their keys for the FBI to grab them dude.
And how exactly would my bank know that I have purchased gold and silver?
Oh that’s right, they wouldn’t.
You don’t defend crypto by attacking other things - that’s a logical phallusy.
They would if you are purchasing it online or with a card of some sort. Purchasing it in person with cash is essentially the best way to exchange bitcoin for total privacy too.
Wire Transfer would provide the name of precipitant but not precisely what was purchased.
Me? I'm not buying.
phallusy (countable and uncountable, plural phallusies) An erection-related myth.
did you mean "logical fallacy"?
;)
Funny lol. I was just going to let it stand on it's own thinking maybe it was a matter of hard diction.
The OP had me rolling! 🤣
I said what I said 😉
and I'm OK with that...
;)
I'm not sure if you're trying to be helpful, or if you're a troll. I'll give you the benefit of the doubt and respond earnestly.
I do not purchase my metal in any way that could ever be traced back to me, and anyone who does is a couple eggs short of a dozen. But thank you for your concern.
My local silver dealer only takes cash,and gives out cash if you sell.
Same. No trail at all. 🫡
Until the power goes out.
Lights go out- you are going to have way bigger problems than money. All forms of money are worthless & changed to commodities
Right? That argument of power outage is stupid...
How is it stupid? Can you access your crypto without power?
Exactly what wakeupworld said, if the power is out world wide then worries about bitcoin is pointless as there will be much larger problems. Problems shift to survival and not whether a currency is available.
Electricity has only been a thing for 120 years. However did we survive as a species prior to that? 🙄
Assuming you were raised properly, survival in a non electric world is dead simple, especially if you have money that doesn’t need electricity or the internet to be used.
No one in the west alive today has lived without electricity, and you think things would be hunky dory because people 100 years ago lived without power?
Yes for some it would be ok, maybe even for many, but mostly it would devolve into a huge problem in the short term. All the city dwellers would leave to the rural areas looking for food and it would literally be a fight for survival. People today are not equipped to live without electricity.
I hear your argument for precious metals and I have them as well. Metals would come into use a bit later after the initial shock. Sure then it would be ok, but the first few months would be mayhem and I don't think people would be that concerned with bitcoin. I have bitcoin, and I know exactly where my focus would be in a grid down scenario. BTC would be very low on my priority list. Defense of my family and property would be #1.
The thing is, once the power is out it is gonna be too late to use money, in any form, to save you. You are supposed to be making those preparations now.
So gold and silver?
What are you going to be buying and where with gold when the grid goes down for weeks or months? Gold would be just as useless as crypto. Better to have guns are gardens at that point.
The same things people have been buying for ages?
How is someone going to test your gold & silver for purity? If grid goes down, the needs and use cases of precious metals strongly declines as all forms of traditional money do. Commodities will then rule
The same way they have for centuries? I know this may be a shock, but not everything requires internet access to work.
I own gold/silver physically for future retirement. I don't really keep it to spend though I am sure I could trade it for something I needed.
He still has to convert it to cash to pay his debts off, like he would have to with gold and silver. So what was your point again?
Try to do that quickly and anonymously over borders some other way
Its easy. Takes about 10 minutes.
Everyone assumes KYC. I cant even. Ok … sure. 5 days 🤦♂️
LOL… enjoy your btc now… cause when the crash comes, you gonna be like…. But, but… muh bitcoin… stack gold and silver ftw
Y'all been saying that for years. "WhEn ThE cRaSh CoMeS". Only thing that's been happening is BTC's monetary value skyrocketing. Meanwhile your fiat funny money is going down the shitter.
The only thing more prideful than a tranny pedo is a crypto bro
ABSOLUTELY. This is just 1 example of the power of crypto currency.
"But it's not.backed by anything"
I've stopped even trying to answer that. People have used all sorts of weird things for money - notched sticks, stones with holes in, special seashellls. Tobacco used to be a prison currency but I hear these days it's pot noodles.
So long as everyone recognises it as money and so long as you can't just generate a new one easily then you're good to go. Yes I know Fed printer go brrr but they've got enough guns to make it stick.
If you owe me, try doing that without gold and silver.
Are you really flexing on gay shit? You do realize BTC is the ultimate blackmail backdoor currency rn.. fuck off shill. It's a fucking front and you know it
No, I really don’t think they do know. Crypto bros are a special kind of stupid.
I mean I'm okay with digital currency. It's no different than investing in chickens or action figures, everything can have a price and be traded, and if that's what you want to invest in, go right ahead. It's specifically BTC that I'm against, and it's a good litmus test to see who's a shill or not when you make the differentiation. Anyone that has done beyond reddit teir research knows BTC has been propped up and blown way over value.. think about that, how did it grow so quickly? No way it was organic from individual public investors and mining alone.
Everyone gets bitcoin at the price they deserve.
Bitcoin is AIR. 🤦♂️
So is the space between crypto bros ears…
Via Miriam Webster:
crypto 1 of 2
noun
cryp·to ˈkrip-(ˌ)tō
plural cryptos
And jaws dropped, he said, when he explained the theory that Christopher Columbus was a "crypto" or hidden Jew. —Kim Vo (*QUITE an interesting sentence example from Webster dictionary!!!)
CRYPTOGRAPHY sense 2
CRYPTOCURRENCY
A specialty finance firm … is the first to offer brokers the option to get their commissions paid up front, in crypto, underscoring how digital coins are becoming a more mainstream part of financial transactions. —Jennifer Schonberger
2 of 2
combining form
variants or before a vowel crypt-
hidden : covered cryptogenic
hidden by dissembling : unavowed crypto-fascist
3)CRYPTOGRAPHIC cryptanalysis
I had a hundred dollars of bitcoin in my cart ( actually about to buy) but wasn’t sure about the wallet thingy. It was 3 dollars a coin! Next day it went to 80 something and I said forget about it.
Dang it!
Yay! For Bitcoin. If you think BTC is just currency you'll miss the whole point.
My personal belief is that Bitcoin is a White Hat Operation to smoke out those that have been doing money illegally! Two reasons I believe this! First nothing is truly untraceable on the internet and secondly many that have been dodging from moving money via banks have been convinced that Bitcoin is untraceable! See how you smoke them all out!
musk? Trump or Trump ally?
13 lbs of gold should cover it, not too heavy, couple 5 lb sacks of coins + a half bag.
LOL try accessing your "coins" in a grid down scenario.
In order for BTC to work as a medium of exchange, BOTH parties need - At a MINIMUM:
I'll openly admit; I've been in I.T. over half my life - just professionally. Personally, I've been interested in, tinkering, passionate hobby with I.T. for even longer. I don't fully understand BTC....yet..... I need to make the time to sit down & research & learn about it.
Just like I also want to sit down & research & learn more about Quantum Mechanics, Zero Point Energy (want to research if real or not), Gobekli Tepe, and other challenging, complicated topics.
If I need to dedicate anywhere near the time, effort & mental resources towards what you want me to believe is "money", as I do towards theoretical physics + such; your "money" probably isn't good enough for universal adoption. It's probably not a great idea overall.
That complex a system, in order to achieve something that is so simple, is never a good sign. Money is supposed to FACILITATE transactions; not make you sit & study it for hours.
With Gold & Silver you need: Hands. Open your hands, here's my gold / silver, in exchange for whatever you have that I want.
Not a hard decision to make....
I'm not shitting on BTC; I can't decide if it's a scam / CIA ruse or not, but since OP said "try that with gold"..... 😜🙏👌😘
Must be nice to be in the club
Dont worry, in the free world post awakening, there wont be any clubs.
My golf club will beat your golf club! One vs one, men on men!
Who paid? POTUS, Don Jr., Eric, Elon or other??
WOW!