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 136 days ago by BitcoinPatriot 136 days ago by BitcoinPatriot +48 / -3

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– thephantom1979 1 point 136 days ago +1 / -0

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

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– Slyver 3 points 136 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 136 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 136 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 136 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 136 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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