If only if there was some immutable ledger that no one can modify, publicly available to all so we know exactly how much of it exists. If onlya commodity existed that magically can never inflate. Hmmmm...
That ledger is also a tracker of how much you bring in, send and to whom. If only there was an anonymous way to hold wealth without using the banking or traceable system
You are misreading my point. I am not attacking on the basis of the bug itself, nor is my point regarding the security of the base level software itself.
I merely pointed out, via using the overflow bug, that the clean up post bug fix was to erase the offending transaction from the chain via Bitcoin's longest chain consensus protocol. That goes against your assertion that Bitcoin is an immutable ledger.
Remember, immutable means "Not subject or susceptible to change." If they hardcoded a blacklist of those 2 wallet addresses while keeping the transaction on chain, then there would be a point to saying Bitcoin has immutability.
Removing that transaction post-hoc however means that Bitcoin is not immutable, for better or worse. That is merely my point.
El Salvador has announced a 1.5 billion loan from IMF. I wonder what they are going to do with that money? I’m sure Michael Saylor has an idea maybe 21 million ideas.
Better cash out and buy some Bitcoin guys. "Gold shall end the FED" = USA dumping gold and buying BTC. Look it up. Senator Cynthia Lumis has proposed creating a Bitcoin strategic reserve that Trump is going to sign into law which he promised AT THE BITCOIN CONCFERANCE this summer!
Have you guys read Softwar by Space Force major Jason Lowry? Book is about how important Bitcoin is for strategic defense. Don't miss your opportunity guys, Bitcoin has been part of the plan all along. It is absolutely finite unlike gold, get some while you still can
I still don't understand this currency. At all. Que, buzzwords. BLOCKCHAIN, and crypto. In order for money to be useful it has to be convenient. Listening to cult members they have a secure crypto wallet that they AIR GAP, from having their crypto currency stolen. Que simple transaction. Walking by lemonade stand. Lemonade 25 cents. Thirsty crypto wallet cult member. I would like to buy some lemonade? O.k that's 25 cents. Do you take bitcoin. Now reality and electronic worlds have a problem. Bit coins are constantly changing value. 100,000 or 300.00 dollars. The merchant just wants 25 cents. But the Thirsty cult leader only has bitcoin. I think you can shave off a bit coin into bits or portions of a bitcoin. But bitcoin is so valuable? That you can't break it down to a small enough COIN. whatever, this reality, and electronic digital currency don't work.
You sell some of it for USD or whatever local currency you need to use to do local transactions. Yes bitcoins can be transferred as portions and you can do it on your phone. Air gapping is no different from keeping gold in a safe at home instead of the safety deposit box at the bank.
Absolutely. Asking "what is money" is a very good question. Anything can be money, but what is the best money? What makes some money better than others?
Money must be conducive to trade. Meaning it must hold long term stability and also have relative short term stability for daily transactions.
Fiat currency does that by force, but still loses long term stability. But BTC doesn't offer that. BTC moves in the same currents as the stock market but much more violently. You can't conduct commerce with such an asset.
But cryptos were hailed as the future of money outside of government control. If you are implying that they need government to achieve stability and marketability then it defeats one of the original purposes of crypto.
You can't make new money without existing entities using it. The government doesn't control the Bitcoin they own, they just have a stake in it. They can't issue more Bitcoin.
More BS to desperately try to keep the price down. China, El Salvador and meteors! Gold is everywhere and worthless! Don't mind the CB's buying it with both hands. They just have a thing for worthless pretty rocks.
Also , just for coincidences. Look at DeBeers Diamonds ! same deal.
Finance is a mental mindset people. Ponder deeply and ye shall understand.
Example 1. person sells a house they bought ten years ago for $100, they sell it today for $150k and celebrate the windfall. But did they. No, just inflation alone shows your dollar DEVALUED by 50%. So to prove it, to get back in the market to purchase similar home you have to spend EXACTLY what you sold for. LOSER.
Happens every day. If you don't put your money to work, you are losing vs. inflation.
You do realize that it only takes 51% of the total hash power to change the rules of the network right? If the majority of miners decide to fork where there is 42 million instead of 21 million BTC, nothing is practically stopping them.
Meh, announce to the world that your land has zillions of ounces in it and then open the doors for foreign investors...i.e. miners, to bid up the leasing rights and once you have those millions of non refundable dollars in the bank, "oh well, sorry you didn't strike gold." Classis bait and switch.
There is gold in the ocean too. It also is "unmined"... and likely never will be.
The amount of gold in the ocean estimates range from 20 million tons to quadrillions of dollars worth. The US National Ocean Service estimates that there are about 20 million tons of gold in the ocean, or 13 billionths of a gram of dissolved gold per liter of seawater, or possibly 1 gram for every 100 million metric tons of ocean water. Some estimates say that the ocean contains quadrillions of dollars worth of gold. That considers not only gold in the sea water, but also gold in/on the seafloor, which those gold deposits can be a mile or two underwater.
The Earth's core may contain up to 1.6 quadrillion tons of gold, which is enough to cover the Earth's surface in gold that's 1.5 feet thick, according to some geophysicists.
The sun contains almost 2.5 trillion tons of gold, which is enough to fill Earth's oceans.
The asteroid "Psyche", located between Mars and Jupiter, is estimated to contain over $700 quintillion in gold and other precious metals.
Finally, the Milky Way galaxy is also estimated to contain roughly 100 million Earths worth of gold.
What happens to a commodity when large volumes of it are found? Price falls.
Why would someone want gold prices to fall? When they know they are on thin ice for over selling gold shares (paper gold)? When they know they need to cover a loss in a shorting of gold?
The commodities markets are hyper corrupt. At least 72x paper stocks for silver than actual ounces. The price is untenable for gold and silver right now, as there is a bit of a silver purchasing shortage these days, especially outside America. Gold was looking to have the same problems.
They know where lots of gold is, but getting it out of the geround isn't always profitable. On the other hand they know there is a trillion $ of gold in the Grand Canyon. Those are the areas off limits to human use.
El Salvador only has 6.5 Million people... and it's only 8,124 square miles in area. This makes it the smallest country in Central America and about the size of Massachusetts or New Jersey.
Have New Jersey attack and defeat El Salvador... and then the U.S. can split the gold 50/50 with New Jersey.
Bitcoin isn't created. There's only 21 million BTC, and that's all there ever will be. As for gold? There's no way of telling how much exists, or how much is even in someone's hands.
From what I've read:
All "elements" have the ability to be created. Transmutation between elements is also possible. Suppressed knowledge that the secret societies hold close. When you understand the universe is all vibration, magnetism and frequencies this isn't a stretch. I suggest a read of Walter Russell "Universal One" if you can handle such a read. Telsa said, of the book, Humanity would need another 1000 years before they could fully grasp it's contents.
If only if there was some immutable ledger that no one can modify, publicly available to all so we know exactly how much of it exists. If onlya commodity existed that magically can never inflate. Hmmmm...
Well, an immutable ledger won't be able to count newly- or un-discovered, uncirculated gold.
That ledger is also a tracker of how much you bring in, send and to whom. If only there was an anonymous way to hold wealth without using the banking or traceable system
"If only if there was some immutable ledger that no one can modify"
Short article about Bitcoin's little incident with block 74638, and how they then proceeded to change aforementioned "immutable" ledger to fix it.
https://m.youtube.com/watch?v=ylPDkb6jVKc
You are misreading my point. I am not attacking on the basis of the bug itself, nor is my point regarding the security of the base level software itself.
I merely pointed out, via using the overflow bug, that the clean up post bug fix was to erase the offending transaction from the chain via Bitcoin's longest chain consensus protocol. That goes against your assertion that Bitcoin is an immutable ledger.
Remember, immutable means "Not subject or susceptible to change." If they hardcoded a blacklist of those 2 wallet addresses while keeping the transaction on chain, then there would be a point to saying Bitcoin has immutability.
Removing that transaction post-hoc however means that Bitcoin is not immutable, for better or worse. That is merely my point.
El Salvador has announced a 1.5 billion loan from IMF. I wonder what they are going to do with that money? I’m sure Michael Saylor has an idea maybe 21 million ideas.
I see what you did there @chainlink :-D
It's not BTC if that's what you're thinking.
Unmined gold means nothing.
Itt may never be profitable to mine it.
Must be comms for something else,or they don't want people to buy it.
Exactly
Yep, there’s lots of silver & gold deposits in Ireland, just need to strip mine a whole county to get some.
Finding gold is the first stage on a very long road.
Even if the mine it all... we could 100% be on a gold standard after that.
Not enough gold to support currency needs of the world. ... now there is.
Half the rock in Nevada,has gold in it.
But most isn't profitable to mine....
True story. It’s also hard to mine as we have very little water.
Yes, I keep seeing this? I feel it's comms, but about what? gold will destroy something?
I bet he pulled the teeth of all the prisoners.
“Hello frend, my name is El Gioppo.
I have goldmine in El Salvador. It have mucho millions of gold. I need gringo I can trusts with bank account so I can move gold to Fort Knox.
You send me your bank details I begin to move ze gold. I pay you 2 million pesos for helping me.
It very good deal for us frends.
Thank you senoire.”
/s
Better cash out and buy some Bitcoin guys. "Gold shall end the FED" = USA dumping gold and buying BTC. Look it up. Senator Cynthia Lumis has proposed creating a Bitcoin strategic reserve that Trump is going to sign into law which he promised AT THE BITCOIN CONCFERANCE this summer!
Have you guys read Softwar by Space Force major Jason Lowry? Book is about how important Bitcoin is for strategic defense. Don't miss your opportunity guys, Bitcoin has been part of the plan all along. It is absolutely finite unlike gold, get some while you still can
Is Bitcoin money?
I still don't understand this currency. At all. Que, buzzwords. BLOCKCHAIN, and crypto. In order for money to be useful it has to be convenient. Listening to cult members they have a secure crypto wallet that they AIR GAP, from having their crypto currency stolen. Que simple transaction. Walking by lemonade stand. Lemonade 25 cents. Thirsty crypto wallet cult member. I would like to buy some lemonade? O.k that's 25 cents. Do you take bitcoin. Now reality and electronic worlds have a problem. Bit coins are constantly changing value. 100,000 or 300.00 dollars. The merchant just wants 25 cents. But the Thirsty cult leader only has bitcoin. I think you can shave off a bit coin into bits or portions of a bitcoin. But bitcoin is so valuable? That you can't break it down to a small enough COIN. whatever, this reality, and electronic digital currency don't work.
You sell some of it for USD or whatever local currency you need to use to do local transactions. Yes bitcoins can be transferred as portions and you can do it on your phone. Air gapping is no different from keeping gold in a safe at home instead of the safety deposit box at the bank.
Absolutely. Asking "what is money" is a very good question. Anything can be money, but what is the best money? What makes some money better than others?
Money must be conducive to trade. Meaning it must hold long term stability and also have relative short term stability for daily transactions.
Fiat currency does that by force, but still loses long term stability. But BTC doesn't offer that. BTC moves in the same currents as the stock market but much more violently. You can't conduct commerce with such an asset.
I think if countries start holding large amounts as a strategic reserve the price will stabilize over long term.
But cryptos were hailed as the future of money outside of government control. If you are implying that they need government to achieve stability and marketability then it defeats one of the original purposes of crypto.
You can't make new money without existing entities using it. The government doesn't control the Bitcoin they own, they just have a stake in it. They can't issue more Bitcoin.
It still requires government buy in to give it value and stability.
More BS to desperately try to keep the price down. China, El Salvador and meteors! Gold is everywhere and worthless! Don't mind the CB's buying it with both hands. They just have a thing for worthless pretty rocks.
Also , just for coincidences. Look at DeBeers Diamonds ! same deal. Finance is a mental mindset people. Ponder deeply and ye shall understand.
Example 1. person sells a house they bought ten years ago for $100, they sell it today for $150k and celebrate the windfall. But did they. No, just inflation alone shows your dollar DEVALUED by 50%. So to prove it, to get back in the market to purchase similar home you have to spend EXACTLY what you sold for. LOSER.
Happens every day. If you don't put your money to work, you are losing vs. inflation.
Aaand they can never "Find" more BTC.
Shocking that so many here can't see this
You do realize that it only takes 51% of the total hash power to change the rules of the network right? If the majority of miners decide to fork where there is 42 million instead of 21 million BTC, nothing is practically stopping them.
“Only” …
There was a time when it was circulated as general currency, held by lots of people.
Meh, announce to the world that your land has zillions of ounces in it and then open the doors for foreign investors...i.e. miners, to bid up the leasing rights and once you have those millions of non refundable dollars in the bank, "oh well, sorry you didn't strike gold." Classis bait and switch.
There was a story saying the CERN people accidently created 3 tonnes of gold back in like 2015...
They found recently that the interior of the collider was essentially dusted with like 4 tons of gold.
There is gold in the ocean too. It also is "unmined"... and likely never will be.
The amount of gold in the ocean estimates range from 20 million tons to quadrillions of dollars worth. The US National Ocean Service estimates that there are about 20 million tons of gold in the ocean, or 13 billionths of a gram of dissolved gold per liter of seawater, or possibly 1 gram for every 100 million metric tons of ocean water. Some estimates say that the ocean contains quadrillions of dollars worth of gold. That considers not only gold in the sea water, but also gold in/on the seafloor, which those gold deposits can be a mile or two underwater.
The Earth's core may contain up to 1.6 quadrillion tons of gold, which is enough to cover the Earth's surface in gold that's 1.5 feet thick, according to some geophysicists.
The sun contains almost 2.5 trillion tons of gold, which is enough to fill Earth's oceans.
The asteroid "Psyche", located between Mars and Jupiter, is estimated to contain over $700 quintillion in gold and other precious metals.
Finally, the Milky Way galaxy is also estimated to contain roughly 100 million Earths worth of gold.
To the moon!
Regardless, gold is inflationary. Just not as much as FIAT.
There is a lot of it out there and more being mined every day. But hey, its a shiny rock, so pretty.
u/FlyingScotzman “doesn’t go plat it’ll go gold”…I didn’t expect gold news this early!
Noice
Been saying this.
Think markets.
What happens to a commodity when large volumes of it are found? Price falls.
Why would someone want gold prices to fall? When they know they are on thin ice for over selling gold shares (paper gold)? When they know they need to cover a loss in a shorting of gold?
The commodities markets are hyper corrupt. At least 72x paper stocks for silver than actual ounces. The price is untenable for gold and silver right now, as there is a bit of a silver purchasing shortage these days, especially outside America. Gold was looking to have the same problems.
Just like oil. We pillage other nations for resources when we have plenty. But this sounds more like comms.
Did you just confuse Argentina with El Salvador?
I wrote Argentina and not El Salvador. smh
They know where lots of gold is, but getting it out of the geround isn't always profitable. On the other hand they know there is a trillion $ of gold in the Grand Canyon. Those are the areas off limits to human use.
Jus me thinking, if all this gold hits the market wouldn't you see a significant price DROP for and oz of gold? Jus sayin!
Would make Bitcoin leagues more valuable.
blessings from God.
The solution is simple.
El Salvador only has 6.5 Million people... and it's only 8,124 square miles in area. This makes it the smallest country in Central America and about the size of Massachusetts or New Jersey.
Have New Jersey attack and defeat El Salvador... and then the U.S. can split the gold 50/50 with New Jersey.
Nope. Let them keep it. Let's do something daring and let them prosper.
Sounds plausible.
Its not. Its price is reflected in the expensiver operations necessary to extract it from the ground
Good time to go back on the Gold standard and get rid of the funny money.
Gold is the original one world currency.
Isn't Bitcoin created by "mining"? What color is a bitcoin?
Bitcoin isn't created. There's only 21 million BTC, and that's all there ever will be. As for gold? There's no way of telling how much exists, or how much is even in someone's hands.
Ok you got me, "created" was the wrong word. What do they actually call it when you get some bitcoin outta your mining operation?
From what I've read: All "elements" have the ability to be created. Transmutation between elements is also possible. Suppressed knowledge that the secret societies hold close. When you understand the universe is all vibration, magnetism and frequencies this isn't a stretch. I suggest a read of Walter Russell "Universal One" if you can handle such a read. Telsa said, of the book, Humanity would need another 1000 years before they could fully grasp it's contents.