Last chance to board the train, the new financial system starts 7/27 - The Great Awakening

Last chance to board the train, the new financial system starts 7/27 (media.greatawakening.win)

posted 139 days ago by BitcoinPatriot 139 days ago by BitcoinPatriot +48 / -3

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– Slyver 7 points 139 days ago +10 / -3

2020: Donald Trump promotes Vaccination. That turned into an exposition of huge amounts of fuckery in our medical, scientific and education systems, as well as making blatantly obvious the systems of coercion and information control that create false beliefs in society (societal wide faith in media, the existence of the corporate oligarchy, etc.).

2024: Donald Trump promotes Bitcoin...

Anyone who thinks Bitcoin is a good idea has never actually looked into the history of economics with any eye other than confirmation bias. The number of problems with it are legion. That doesn't mean it has no good ideas contained within it, but like every other "solution" provided by the deep state that does have some merit (like vaccines), the fine print will literally kill you.

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– thephantom1979 1 point 139 days ago +1 / -0

I am taking a more wait and see approach with Bitcoin.

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– Slyver 3 points 139 days ago +5 / -2

You can take any approach you want. It doesn't change it's fundamental problems. Unless it is used strictly as a tie to real assets (which would drastically change its value), it is literally worthless, and there are many blockchain techs that far surpass BtC in that regard. Not to mention that the deep state have a controlling interest in BtC. I mean, it's lose-lose all around.

If it looks like a ponzi scheme, walks like a ponzi scheme, and quacks like a ponzi scheme, your goose is probably cooked.

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– thephantom1979 3 points 139 days ago +3 / -0

I am leaning towards your point of view. The reason why I taking a wait and see approach.

There are many smart people that swear by it. So I need to see things play out more.

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– redtoe-skipper 1 point 139 days ago +3 / -2

I agree with you, It is worthless. A medium of exchange is only valuable as long as there is a taker, being a fool or a smart man, depending on the price.

Everything is a ponzi scheme. The visibility of duration, conveying the idea of stability, is fiction. So, there is always someone holding the bag.

That said:

I have detailed a couple of point in which specifically Bitcoin is totally dispractical.

https://greatawakening.win/p/17tL1ZvrHz/x/c/4ZBKpsapEsy

SSD prohibitive: bitcoin raw: close to 600Tb and exponentially growing.
Syncing first time takes an awful amount of time
Avg mining difficulty in not even 4 years from 17T tot 85T makes it cost intensive.
Hence, co-opted by just a couple of miners, 2 have 52% of the capacity, defeating the purpose of the coin.
It is expensive in execution.
It is slow in execution.
It is totally open.
It is co-opted by the system. Wait till the full force of paper shit bears down on it. See Gold/Silver. 68 billion volume = 15 billion in derivatives.
Exchanges are fucking you whenever they can: AML + ATF, KYC, and what not.
It is a speculative volatile asset with 1 use case: get shafted.
Added on services to achieve privacy make it complex and expensive.

However, there is tons of money to be made with it. Of course, after it is exchanged for other assets ....Like XRM, lead, gold, silver, real estate, production capacities, consumables.

I'll add one more: Brics crypto. So no, BTC will not be a GLOBAL reserve currency, perhaps a regional (not necessarily geographical) one at best.

That said: we are in a transition period, and perhaps the one can for the time coexist next to the other.

The question is always: who controls the money supply. And the system in place right now, is built on the exploitation of those not knowing what they are doing, or should be doing.

A world: upside down, Davy Jones locker.

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– hunterscrackpipe1 1 point 139 days ago +1 / -0

I am still asking, what backs bitcoin, other than faith? That's what I do not see in a these digicoins. What is to prevent a ponzi scheme? At least with dollar, for now, it has the backing of the federal government, yeah I know it's lost 85% plus of it's value since it inception, but the world over, at this point in time, know that it has the backing of the US Government. Bitcoin and other digital currency, not so much. I readily admit I have not deep dived on the product and I know that it's had quite the ride.

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– thephantom1979 1 point 139 days ago +1 / -0

I am watching because there are other companies trying to sell alternatives to bitcoin.

There is one called Caspa that a buddy of mine is into.

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– UltimateMastermind 1 point 139 days ago +3 / -2

This.. metals or GME, which is backed by WH is better choice right now. Blockchain is good tech but BTC sucks...

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– CheekyHawk 1 point 139 days ago +1 / -0

I’m of this mind but slightly expanded; Cash, Metals, GME, DJT, TSLA, Land, Tools, Knowledge, Food, Frens.

Both my DJT and GME dwarf my metal and cash atm, but I hold enough to be dangerous whichever way things go.

I have like 1/3 of one Solana on the crypto side; I may buy a bitcoin one day, but my net worth would need quite a lot higher to justify making an entry there.

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– UltimateMastermind 1 point 139 days ago +1 / -0

Nice man. Almost same here. I don´t hold TSLA and Solana. I think crypto is going to be very important in coming years but not yet but who knows...

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