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!
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
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).
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!
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 and Dero
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.
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.
Gold State depositories are also the future
Gold and precious metal backed crypto stablecoins are the future too
There is a multicurrency universe ahead of us, if you can keep it
https://texasbulliondepository.gov/