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.
^^THIS is the current battle. Even Bitcoin exchanges currently using bullshit KYC "digital ID verification" method which violates 4th and 5th Amendment prohibition on placing restrictions on individual property. They are implement quid-pro-quo policy of virtual digital ID where if you want to transfer to a private wallet they try to force you into the KYC process (which is basically a digital ID) in order to tie all Bitcoin transfers to your identity and keep track of where it is going, which is unlawful.
Workarounds via alternative peer-to-peer Bitcoin buying/selling are possible until they all get shutdown. I am working these now. Note that you only need 1 Bitcoin to be in top 1% of Bitcoin holders worldwide. This is my objective, and I was very close before exchanges started blocking my purchases and transfers last year due to "noncompliance" with their unconstitutional digital ID "policy". I am giving them all hell over it now.
It is not just physical. It is anonymous (self-custody) physical. Two big hurdles that are inter-related with Bitcoin and private wallets.
You may wish to use a computer that is not your main computer or Bitcoin transfer computer. I don’t use my phone or QR codes except for re-loadable commerce wallets.
The weakness on pure metals is not knowing the exact supply. It seems like the method they were able to use to get us off those standards was by both having a very significant initial amount in hand, and leveraging that + legislation/bribes/threats/assassinations to defeat price discovery in the largest markets and further consolidate control.
The advantage of having Bitcoin on top of that is being able to leverage it to validate actual available amounts. Perhaps gold and silver could be verified and coated with an NFT as part of its trade protocol in such a way that anyone could verify it and know it’s legitimate using a fairly inexpensive machine.
Bitcoin would need to have a LOT of nodes taken out and corrupted simultaneously in order to take out the whole network.
It seems like a good security measure, though as with all things, having multiple options to back work with energy is better than having one. Maximal distributed points of failure that can all fail independently without taking down the whole grid.
And if its network is hosted and backed up in space… then so long as space is protected by say.. a Space Force, it could be very, very tricky to take the whole thing down or corrupt it. It would make it harder to steal large amounts of metals, as their owner would be known. It would make it hard to corruptly spend many types (not all) of currency. You would be able to “upload” your gold to Bitcoin, and spend it in another country, without needing to carry around the weight and risk losing it in an accident.
And there are always offline cold storage Bitcoin wallets. Lots of good options presented.
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.
^^THIS is the current battle. Even Bitcoin exchanges currently using bullshit KYC "digital ID verification" method which violates 4th and 5th Amendment prohibition on placing restrictions on individual property. They are implement quid-pro-quo policy of virtual digital ID where if you want to transfer to a private wallet they try to force you into the KYC process (which is basically a digital ID) in order to tie all Bitcoin transfers to your identity and keep track of where it is going, which is unlawful.
Workarounds via alternative peer-to-peer Bitcoin buying/selling are possible until they all get shutdown. I am working these now. Note that you only need 1 Bitcoin to be in top 1% of Bitcoin holders worldwide. This is my objective, and I was very close before exchanges started blocking my purchases and transfers last year due to "noncompliance" with their unconstitutional digital ID "policy". I am giving them all hell over it now.
It is not just physical. It is anonymous (self-custody) physical. Two big hurdles that are inter-related with Bitcoin and private wallets.
The KYC stuff has me torn on Bitcoin... are there any peer-to-peer platforms you recommend?
This is one I am testing:
https://bisq.network/
You may wish to use a computer that is not your main computer or Bitcoin transfer computer. I don’t use my phone or QR codes except for re-loadable commerce wallets.
The weakness on pure metals is not knowing the exact supply. It seems like the method they were able to use to get us off those standards was by both having a very significant initial amount in hand, and leveraging that + legislation/bribes/threats/assassinations to defeat price discovery in the largest markets and further consolidate control.
The advantage of having Bitcoin on top of that is being able to leverage it to validate actual available amounts. Perhaps gold and silver could be verified and coated with an NFT as part of its trade protocol in such a way that anyone could verify it and know it’s legitimate using a fairly inexpensive machine.
Bitcoin would need to have a LOT of nodes taken out and corrupted simultaneously in order to take out the whole network.
It seems like a good security measure, though as with all things, having multiple options to back work with energy is better than having one. Maximal distributed points of failure that can all fail independently without taking down the whole grid.
And if its network is hosted and backed up in space… then so long as space is protected by say.. a Space Force, it could be very, very tricky to take the whole thing down or corrupt it. It would make it harder to steal large amounts of metals, as their owner would be known. It would make it hard to corruptly spend many types (not all) of currency. You would be able to “upload” your gold to Bitcoin, and spend it in another country, without needing to carry around the weight and risk losing it in an accident.
And there are always offline cold storage Bitcoin wallets. Lots of good options presented.