Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
The value of 1 whole coin goes up. This in turn means you need fewer amounts of a coin to purchase things. Just like gold, the price goes up when supply is short. When new supply is added (mined), the value goes down slightly. As time goes on, there is less and less available to mine until eventually all of it is mined. At that point, 1 ounce of gold could be worth $100k, which means buying a house would take 2 ouncesof gold. It's not as if the gold is useless when all of it is mined right?
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT
The test you're referring to is likely the Starfish Prime test conducted by the United States in 1962. This was a 1.4 megaton nuclear explosion detonated 400 kilometers above the Pacific Ocean, near Hawaii. The EMP from this test caused disruptions to electrical systems over 1,400 kilometers away, including damage to satellites and electrical infrastructure in Hawaii, but it was far from global in impact.To affect the entire planet with an EMP would require a massive and highly coordinated series of detonations, far beyond our current capabilities.
And When you are ready:
Here is where you can find everything discussed from the most basic crypto concepts to very esoteric, deep discussions of the inner workings of crypto.
Also, President Trump did bring THE FED UNDER THE TREASURY and OHHH MY...the FED is the ONE holding ALL THE DEBT...so, the reality is, the FED will be gone and it will be the Treasury!!!!!
Decentralized proof-of-work is King. All proof-of-stake can be manipulated, but any move to digitization might be outside current system, and accelerate its collapse.
It could be manipulated, but then, what happens to the confidence in the crypto? It goes into the toilet. Other than the fork between ethereum and ethereum classic, no such example exists of a proof of stake ecosystem being systemically manipulated.
Correct. You have nailed the game being played by globalist. They need confidence in proof of stake to shift everyone over to crypto system before they try and steal it, but if they move too fast or try something too obvious, then it scares everyone away. After current system collapses and everyone over in crypto, they can then attempt to manipulate proof-of-stake to "reassign" assets via some sort of forced redistribution [SUSPECTED INTENT].
Most people still don't understand the difference between proof-of-stake and proof-of-work, and it is possible that humanity is currently generally too dumb to be able to figure out how to actually use crypto effectively. We are at the BOTTOM of a very steep learning curve with a cognitively impaired and mind-controlled population.
I also don’t understand it. So someone set up a company for digital currency and sets a limit of how many coins their algorithm will produce. So miner computers start mining these carbon coins and a value is placed on it. How does the price go up when more coins are mined that would I think make value go down until all of them are mined and the coin is accepted everywhere to purchase things. Also how do you limit how many digital currencies can be developed? Is it not gonna end up like all the currencies in the world and have to have a way to transfer from one to the other for purchasing powers? Like I would have to have a wallet for each different curry or is there going to be one currency that everyone has to use and if no one is able to mine anymore and no one will sell any of theirs then people who spent all theirs or can’t mine anymore are screwed. That’s no better than the elites making money and laundering it back to themselves to buy assets that are of value and common people can’t get that kind of cash freely to buy assets. I’m so confused on the whole digital cause like people ask about power outages or emp events but what about rural areas with very little if any cell service and you can’t get on the internet how you gonna buy something when you can’t access your digital wallet? I don’t seem to have the intelligence to understand DC no matter how much o read
i'm with you. if it's digital then we will need electric on constantly. any black outs and we are all screwed. and what about hackers? if our SS#'s aren't safe, our bank accounts aren't safe, credit cards, etc., how is bitcoin going to be safe?
Energy. In the case of you getting paid for your labor capital in Bitcoin, it is your human energy, 100% paid to you with no taxes on it (tax on labor capital violates 4th, 5th Amendment individual property rights).
To be "backed", a currency must be directly tradable with whatever it is backed by. That is what "backed by" means. It is common to make the claim that Btc or crypto in general is backed by energy, yet none of those currencies can be exchanged for energy. (not counting paying your electrical bill or buying batteries) Indeed, none of them can be exchanged for anything at all unless both people believe it can be.
In the case of an actual asset, like PMs, there is no worry about whether or not your PMs can be exchanged for something else because they have intrinsic value (value having nothing to do with belief, but rather value that has been given to an asset by Natural Law or the Universe itself). This is not a complicated concept, yet because Olympic level mental gymnastics is required, and the brainwashing so well developed for the True Believers, this concept is very difficult for any Btc proponent to understand, yet the easiest thing in the world for everyone else. The problem is, those who have invested in Btc or other such useless currencies must create belief to justify their often "all in" investment, and thus must miss out on the simplicity of this concept. It is because of this contrived belief that one allows themselves to make up such nonsense as:
Btc is backed by energy
No it is not. Not even in the slightest little bit, or under the most wild contrivance of definitions. You can't trade your Btc for energy in any direct way. There is zero "energy value" there.
What is petrodollar backed by? Oil, a.k.a. ENERGY
Well, I disagree that the "petrodollar" actually existed in the sense this idea is used. It was only a useful concept for countries, not people, and even there, it was total bullshit. Regardless, even assuming that the petrodollar really was backed by oil, the key there is, the petrodollar is backed by Oil, not "energy". Oil has an intrinsic energy property (as the basis of all organic chemistry, it has a lot more value than just "energy"). This energy value, and all of its other chemical properties that make it useful chemical stock for actual physical goods (plastics, pharmaceuticals, tire rubber, etc., etc.) are properties given to it by the Universe. Those properties can't be taken away by changing belief. They are fundamental AKA intrinsic. Btc on the other hand has no properties like that, nor can it be directly exchanged for something like that ("backed by").
Do you see the difference? The petrodollar is backed byactual physical usable assets. Btc takes energy to make. That energy is lost to entropy forever. There is no backing there. You can't get it back to do future work. The mining of Btc is the work. That work is now done and lost. We had energy, which was positive, the mining happens, and the "total energy column" is now a loss. That loss is called "backed by" by Btc proponents. That is what mental gymnastics looks like, in this case a lie that a loss of a thing is a gain, or storage, of a thing.
It is utter nonsense, and yet smart people are still confused by this simple concept.
That is the power of bias; the need for black to be white because of the potential for personal loss . When you build your house on sand, you need to believe the ocean, sitting 50 feet away, will never rise high enough to take out your foundation. It doesn't matter that that's not how things actually work--eventually there will be a storm--what matters is the investment. The cost of being wrong is so high that people literally stick their head in the sand to try to protect themselves from their inevitable doom.
Most correctly it is CONVERSION from energy to a infinitely divisible, but finite quantity software (digital) asset that can be moved to any cyber or physical location with nearly zero cost. This may be as close as we ever get to actually carrying around a packet of actual energy (or energy equivalent) in our pockets for anything other than gold/silver coins (which I also advocate for). Direct conversion back to energy is possible if one uses Bitcoin to buy physical assets that have energy resources without intermediate conversion to $. BRICs is working on one of these mechanisms now.
Gabriel's horn paradox discussion and the details of how it works in sections 5.11.2 through 5.11.3 in Softwar are quite mindblowing. I am still processing and re-reading to understand the actual functional mechanisms.
I use the multiple bucket strategy of cash, land, silver, Bitcoin, and silver/bitcoin/shorted stocks. Note that you can hold MSTR, MARA, and TSLA stocks self-custody at transfer agent. These three are 1,2,4 in terms of Bitcoin held on the balance sheet. This is the current best workaround of Bitcoin exchange transfer to private wallet restrictions (KYC bullshit), IMO.
Most correctly it is CONVERSION from energy to a infinitely divisible, but finite quantity software (digital) asset that can be moved to any cyber or physical location with nearly zero cost.
This is the description of a technology, not a currency. I agree that the technology can be used as an aid to create a currency. It can be used to create all sorts of currencies. It can even be used as an accounting device (currency) to back actual assets. The confusion comes from conflating a technology with a currency. Btc is not a currency except through the beliefs created by a literal ponzi scam that convinces people that it is.
This may be as close as we ever get to actually carrying around a packet of actual energy
Completely false statement. Btc is not a storage of energy. No matter how you are carrying your crypto, you are NOT carrying energy. This statement is utter nonsense and has not one iota to do with reality.
Direct conversion back to energy is possible if one uses Bitcoin to buy physical assets that have energy resources
That is NOT "conversion back to energy," that is convincing someone who has batteries for sale to take part in your scam.
If I hold silver and I find someone who wants the physical properties that silver has (for electronics, or making jewelry, or heat conduction engineering, or they just find it pretty, etc.) I don't have to convince anyone of anything, they will just trade me for it. The value is already there.
Btc doesn't have a single drop of that type of value; it is utterly worthless. Just because you have True Believers drinking the Kool-Aid doesn't mean the Kool-Aid isn't poison. The MOMENT there exists a crypto that is backed by a real asset and it really works as a real asset exchange, with all the necessary conveniences for a currency, Btc and all of their ilk will crash as fast and hard as a 3 year old trying to drive a semi.
Btc and their ilk fulfill a need and they use a technology to do it. That tech is cool stuff. I am a proponent. But the tech can be tied to real assets. Once that happens, people won't have to lie to themselves (and everyone else) about it's value.
Good explanation, buy try again for us uneducated backwoods living hillbillies. I can break down the individual words but the concepts you are espousing is way over my head. Thanks.
Work, labor, effort, human energy expenditure (all labor capital) is done in exchange for something else of value. Right now that “other thing of value” it is US dollar backed by buying/selling of petroleum (exclusively done in dollars until recently) which is used to produce all things in all economies worldwide. US dollar is “energy-backed store of value” you accept in exchange for your “expenditure of human energy”.
Bitcoin (finite supply) is created worldwide on decentralized network nodes using machine labor, run by decentralized worldwide energy grid from various sources: coal, oil, nuclear, etc. The natural resources run computers to solve equations (proof-of-work), converting energy directly into “energy-backed encrypted software” instead of US dollars.
You have proof you did work to generate labor capital that you own 100% (no gov’t middleman). You “get paid” in a finite currency that cannot be duplicated or printed into oblivion because proof-of-work via energy expenditure is required for each additional unit and energy cannot just “be created at the touch of the keyboard” by Federal Reserve without doing any work.
End result is proper price for human labor (paid in energy equiv) and continuously decreasing prices for EVERYTHING as purchasing power ALWAYS increases. Inflation does not exist because Bitcoin (currency) cannot be debased because it is impossible to create fake energy or unlimited Bitcoin.
Yes Anon. I think it’s the physical part. No matter how much Bitcoin I have on the blockchain, I can never hold it in my hand. And an EMP could, “could” potentially delete it and all records.
But a physical coin, dollar, or Bond in my hand is physically able to be held, hidden, and saved or spent outside any digital/blockchain/EMP destruction control.
It’s the tangible physical ownership like a car or a house or a toy or a tree in your yard. You can tangibally trade/sell things like that or not. But Bitcoin on a computer/blockchain can NEVER become physically tangible to hide/save/spend off the range/grid, without a record of a prying eye or possibility of EMP loss.
That’s what I think is the base frustration over even the Patriots wanting a digital currency over a physical currency.
Bitcoin is not nor ever will be 100% in my control. But my Silver Dollar or quarter, $100 Bond or Bill is physical and I can take it off the grid to do as I please. That’s what is trying to be debated.
And I get it. I’m one that wants both tangible cash equal to digital cash/crypto. But I can always exchange between the two at any moment, forever. And if the power goes out or there is an EMP, I want the option to still have physical cash that is the value of what it says on its face for trade.
Not strictly true. This has been tried before in places like Serbia during the civil war. Even in total societal breakdown, gold and silver retain their value while fiat turns near worthless overnight. You can get anything you want: food, weapons, ammo, medicine, hygiene products, a helicopter ride out, etc, if you have gold. Granted, being able to defend yourself is a prerequisite to trading in such a situation, but gold is the ultimate store of value.
It would probably be down for 4 or 5 days. If we enter a new caveman age, paper money would be just as useless. So hold some crpto because there are people in the world that need to make cross border payments which you can't do with silver. So it all has its use. A bag of rice is good to have, some bullets, some crpto, some precious metals.
Can someone explain to me how Crypto of any sort is not a digital currency? What is it tangibly backed by?
Cryptographically mined currency is backed by the carbon effort consumed in producing it.
The value is secured across multiple computers, constantly updating and verifying the Ledger, this is called "blockchain".
Bitcoin has a finite supply that cannot be artificially increased, which is why its value (compared to fiat) has only increased since its inception, if you zoom out.
It is humanity's primary weapon against the central bank system, and any individual 's lack of understanding of it doesn't affect its significance
If it's finite, what happens when it runs out?
The value of 1 whole coin goes up. This in turn means you need fewer amounts of a coin to purchase things. Just like gold, the price goes up when supply is short. When new supply is added (mined), the value goes down slightly. As time goes on, there is less and less available to mine until eventually all of it is mined. At that point, 1 ounce of gold could be worth $100k, which means buying a house would take 2 ouncesof gold. It's not as if the gold is useless when all of it is mined right?
What happens when the central banks use their artificial money to purchase majority of these artificial coins?
Soros, Rothschilds, etc already have infinite money. There's a reason they can't just purchase majority of major coins
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
Buddy...an EMP will completely destroy every aspect of your livelihood. Bitcoin is the LEAST of your worries.
cold storage solutions with EMF bag
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT
It would need to disable every computer in the block chain at once, if that happens then little else will matter
I believe PDJT explained that the mining of his crypto will pay to run the country without the IRS, which will be abolished.
Patriot, I'm thinking about getting into crypto sooner than later...can you point me in the direction of a few "Crypto for Dummies" resources?
Here is something to get you started
How Does Cryptocurrency Work? A Beginner's Guide
https://www.coursera.org/articles/how-does-cryptocurrency-work
And When you are ready: Here is where you can find everything discussed from the most basic crypto concepts to very esoteric, deep discussions of the inner workings of crypto.
https://bitcointalk.org/
Thanks Plutus..
But bitcoin can be near infinitly fractionalized as can other DC. Same as gold and silver.
That has nothing to do with it's finite supply.
You can divide an oz of gold into atoms, doesn't change it's starting volume
Also, President Trump did bring THE FED UNDER THE TREASURY and OHHH MY...the FED is the ONE holding ALL THE DEBT...so, the reality is, the FED will be gone and it will be the Treasury!!!!!
i'm with you fren, i'm not understanding how crypto is safer.
Decentralized proof-of-work is King. All proof-of-stake can be manipulated, but any move to digitization might be outside current system, and accelerate its collapse.
It could be manipulated, but then, what happens to the confidence in the crypto? It goes into the toilet. Other than the fork between ethereum and ethereum classic, no such example exists of a proof of stake ecosystem being systemically manipulated.
Typical Bitcoin Maximalist FUD.
There was a Bitcoin fork as well. BTC vs BCH. Some folks still believe BCH is the “real” bitcoin.
Correct. You have nailed the game being played by globalist. They need confidence in proof of stake to shift everyone over to crypto system before they try and steal it, but if they move too fast or try something too obvious, then it scares everyone away. After current system collapses and everyone over in crypto, they can then attempt to manipulate proof-of-stake to "reassign" assets via some sort of forced redistribution [SUSPECTED INTENT].
Most people still don't understand the difference between proof-of-stake and proof-of-work, and it is possible that humanity is currently generally too dumb to be able to figure out how to actually use crypto effectively. We are at the BOTTOM of a very steep learning curve with a cognitively impaired and mind-controlled population.
I also don’t understand it. So someone set up a company for digital currency and sets a limit of how many coins their algorithm will produce. So miner computers start mining these carbon coins and a value is placed on it. How does the price go up when more coins are mined that would I think make value go down until all of them are mined and the coin is accepted everywhere to purchase things. Also how do you limit how many digital currencies can be developed? Is it not gonna end up like all the currencies in the world and have to have a way to transfer from one to the other for purchasing powers? Like I would have to have a wallet for each different curry or is there going to be one currency that everyone has to use and if no one is able to mine anymore and no one will sell any of theirs then people who spent all theirs or can’t mine anymore are screwed. That’s no better than the elites making money and laundering it back to themselves to buy assets that are of value and common people can’t get that kind of cash freely to buy assets. I’m so confused on the whole digital cause like people ask about power outages or emp events but what about rural areas with very little if any cell service and you can’t get on the internet how you gonna buy something when you can’t access your digital wallet? I don’t seem to have the intelligence to understand DC no matter how much o read
i'm with you. if it's digital then we will need electric on constantly. any black outs and we are all screwed. and what about hackers? if our SS#'s aren't safe, our bank accounts aren't safe, credit cards, etc., how is bitcoin going to be safe?
Energy. In the case of you getting paid for your labor capital in Bitcoin, it is your human energy, 100% paid to you with no taxes on it (tax on labor capital violates 4th, 5th Amendment individual property rights).
See KEY Section 5.10 in “Softwar”. Power projection by the individual using Proof-of-Work energy converted to “encrypted software” that can be deployed anywhere at anytime asymmetrically on even your most powerful foe: https://greatawakening.win/p/17txMS5XJ1/amazon-has-removed-the-ability-t/c/
What is petrodollar backed by? Oil, a.k.a. ENERGY
What is gold backed by? Human/machine labor to extract/refine, a.k.a. ENERGY
What are other currencies backed by? Nation of human/machine labor to extract minerals/resources and produce products and services, a.k.a. ENERGY
To be "backed", a currency must be directly tradable with whatever it is backed by. That is what "backed by" means. It is common to make the claim that Btc or crypto in general is backed by energy, yet none of those currencies can be exchanged for energy. (not counting paying your electrical bill or buying batteries) Indeed, none of them can be exchanged for anything at all unless both people believe it can be.
In the case of an actual asset, like PMs, there is no worry about whether or not your PMs can be exchanged for something else because they have intrinsic value (value having nothing to do with belief, but rather value that has been given to an asset by Natural Law or the Universe itself). This is not a complicated concept, yet because Olympic level mental gymnastics is required, and the brainwashing so well developed for the True Believers, this concept is very difficult for any Btc proponent to understand, yet the easiest thing in the world for everyone else. The problem is, those who have invested in Btc or other such useless currencies must create belief to justify their often "all in" investment, and thus must miss out on the simplicity of this concept. It is because of this contrived belief that one allows themselves to make up such nonsense as:
No it is not. Not even in the slightest little bit, or under the most wild contrivance of definitions. You can't trade your Btc for energy in any direct way. There is zero "energy value" there.
Well, I disagree that the "petrodollar" actually existed in the sense this idea is used. It was only a useful concept for countries, not people, and even there, it was total bullshit. Regardless, even assuming that the petrodollar really was backed by oil, the key there is, the petrodollar is backed by Oil, not "energy". Oil has an intrinsic energy property (as the basis of all organic chemistry, it has a lot more value than just "energy"). This energy value, and all of its other chemical properties that make it useful chemical stock for actual physical goods (plastics, pharmaceuticals, tire rubber, etc., etc.) are properties given to it by the Universe. Those properties can't be taken away by changing belief. They are fundamental AKA intrinsic. Btc on the other hand has no properties like that, nor can it be directly exchanged for something like that ("backed by").
Do you see the difference? The petrodollar is backed by actual physical usable assets. Btc takes energy to make. That energy is lost to entropy forever. There is no backing there. You can't get it back to do future work. The mining of Btc is the work. That work is now done and lost. We had energy, which was positive, the mining happens, and the "total energy column" is now a loss. That loss is called "backed by" by Btc proponents. That is what mental gymnastics looks like, in this case a lie that a loss of a thing is a gain, or storage, of a thing.
It is utter nonsense, and yet smart people are still confused by this simple concept.
That is the power of bias; the need for black to be white because of the potential for personal loss . When you build your house on sand, you need to believe the ocean, sitting 50 feet away, will never rise high enough to take out your foundation. It doesn't matter that that's not how things actually work--eventually there will be a storm--what matters is the investment. The cost of being wrong is so high that people literally stick their head in the sand to try to protect themselves from their inevitable doom.
Most correctly it is CONVERSION from energy to a infinitely divisible, but finite quantity software (digital) asset that can be moved to any cyber or physical location with nearly zero cost. This may be as close as we ever get to actually carrying around a packet of actual energy (or energy equivalent) in our pockets for anything other than gold/silver coins (which I also advocate for). Direct conversion back to energy is possible if one uses Bitcoin to buy physical assets that have energy resources without intermediate conversion to $. BRICs is working on one of these mechanisms now.
Gabriel's horn paradox discussion and the details of how it works in sections 5.11.2 through 5.11.3 in Softwar are quite mindblowing. I am still processing and re-reading to understand the actual functional mechanisms.
I use the multiple bucket strategy of cash, land, silver, Bitcoin, and silver/bitcoin/shorted stocks. Note that you can hold MSTR, MARA, and TSLA stocks self-custody at transfer agent. These three are 1,2,4 in terms of Bitcoin held on the balance sheet. This is the current best workaround of Bitcoin exchange transfer to private wallet restrictions (KYC bullshit), IMO.
This is the description of a technology, not a currency. I agree that the technology can be used as an aid to create a currency. It can be used to create all sorts of currencies. It can even be used as an accounting device (currency) to back actual assets. The confusion comes from conflating a technology with a currency. Btc is not a currency except through the beliefs created by a literal ponzi scam that convinces people that it is.
Completely false statement. Btc is not a storage of energy. No matter how you are carrying your crypto, you are NOT carrying energy. This statement is utter nonsense and has not one iota to do with reality.
That is NOT "conversion back to energy," that is convincing someone who has batteries for sale to take part in your scam.
If I hold silver and I find someone who wants the physical properties that silver has (for electronics, or making jewelry, or heat conduction engineering, or they just find it pretty, etc.) I don't have to convince anyone of anything, they will just trade me for it. The value is already there.
Btc doesn't have a single drop of that type of value; it is utterly worthless. Just because you have True Believers drinking the Kool-Aid doesn't mean the Kool-Aid isn't poison. The MOMENT there exists a crypto that is backed by a real asset and it really works as a real asset exchange, with all the necessary conveniences for a currency, Btc and all of their ilk will crash as fast and hard as a 3 year old trying to drive a semi.
Btc and their ilk fulfill a need and they use a technology to do it. That tech is cool stuff. I am a proponent. But the tech can be tied to real assets. Once that happens, people won't have to lie to themselves (and everyone else) about it's value.
Thank you u/Slyver - Beautifully and intelligently articulated - with poise and tact.
I'd say something with similar points, but it would come out "real shitty".
Thanks for using your gifts as the voice of reason.
Good explanation, buy try again for us uneducated backwoods living hillbillies. I can break down the individual words but the concepts you are espousing is way over my head. Thanks.
Work, labor, effort, human energy expenditure (all labor capital) is done in exchange for something else of value. Right now that “other thing of value” it is US dollar backed by buying/selling of petroleum (exclusively done in dollars until recently) which is used to produce all things in all economies worldwide. US dollar is “energy-backed store of value” you accept in exchange for your “expenditure of human energy”.
Bitcoin (finite supply) is created worldwide on decentralized network nodes using machine labor, run by decentralized worldwide energy grid from various sources: coal, oil, nuclear, etc. The natural resources run computers to solve equations (proof-of-work), converting energy directly into “energy-backed encrypted software” instead of US dollars.
You have proof you did work to generate labor capital that you own 100% (no gov’t middleman). You “get paid” in a finite currency that cannot be duplicated or printed into oblivion because proof-of-work via energy expenditure is required for each additional unit and energy cannot just “be created at the touch of the keyboard” by Federal Reserve without doing any work.
End result is proper price for human labor (paid in energy equiv) and continuously decreasing prices for EVERYTHING as purchasing power ALWAYS increases. Inflation does not exist because Bitcoin (currency) cannot be debased because it is impossible to create fake energy or unlimited Bitcoin.
Yes Anon. I think it’s the physical part. No matter how much Bitcoin I have on the blockchain, I can never hold it in my hand. And an EMP could, “could” potentially delete it and all records.
But a physical coin, dollar, or Bond in my hand is physically able to be held, hidden, and saved or spent outside any digital/blockchain/EMP destruction control.
It’s the tangible physical ownership like a car or a house or a toy or a tree in your yard. You can tangibally trade/sell things like that or not. But Bitcoin on a computer/blockchain can NEVER become physically tangible to hide/save/spend off the range/grid, without a record of a prying eye or possibility of EMP loss.
That’s what I think is the base frustration over even the Patriots wanting a digital currency over a physical currency.
Bitcoin is not nor ever will be 100% in my control. But my Silver Dollar or quarter, $100 Bond or Bill is physical and I can take it off the grid to do as I please. That’s what is trying to be debated.
And I get it. I’m one that wants both tangible cash equal to digital cash/crypto. But I can always exchange between the two at any moment, forever. And if the power goes out or there is an EMP, I want the option to still have physical cash that is the value of what it says on its face for trade.
Decentralization. Non-programmable.
Certain coins / assets can be controlled and programmed. Some cannot.
Ask them how to spend it when the power or Internet is down. Can't wait to see all the BC bro's trying to barter useless BC for food.
Your coins wouldn't matter either, only bullets would.
Not strictly true. This has been tried before in places like Serbia during the civil war. Even in total societal breakdown, gold and silver retain their value while fiat turns near worthless overnight. You can get anything you want: food, weapons, ammo, medicine, hygiene products, a helicopter ride out, etc, if you have gold. Granted, being able to defend yourself is a prerequisite to trading in such a situation, but gold is the ultimate store of value.
It would probably be down for 4 or 5 days. If we enter a new caveman age, paper money would be just as useless. So hold some crpto because there are people in the world that need to make cross border payments which you can't do with silver. So it all has its use. A bag of rice is good to have, some bullets, some crpto, some precious metals.