New bill would revalue gold to buy Bitcoin
(m.youtube.com)
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Sounds really retarded.
Bitcoin is currency backed by nothing with zero intrinsic value or utility whatsoever.
It's one of the biggest scams going in my lifetime.
The whole Satoshi story is a complete fabrication.
This just seems like smoke and mirrors with some good old fashioned bs and trickery mixed in.
Sorry if that insults your BTC religion, but that's how I see it.
Bitcoin is backed by energy and its rigid proof-of-work model. It's intrinsic value lies within its proof of work infrastructure, an immutable ledger that cannot be manipulated.
You know nothing about Bitcoin.
This is not correct.
The energy used to mine BTC is CONSUMED in the process and is therefore LOST forever.
I keep hearing people parroting this falacy and they keep getting mad because they're wrong.
True, but the ledger is the gold. I just prefer the real thing. All I could see myself doing is exchanging small amounts of metals to use bitcoin as a currency as it's easier to transport. But ultimately I'd prefer to just exchange metals for what i need.
Same.
If you can't physically hold it in your hand, do you REALLY "have" it?
I don't need a 3rd party involved or electricity to snap off a gram of gold from a Valcambi bar...
What I DO wonder is when there IS some unforseen problem with your BTC, who are you going to call to resolve it? Ever have to call a 3 letter agency because there was wire fraud? They're beyond fking useless and zero help. They just don't care.
BTC? "Sir can you describe what was stolen from you? Size?, color? Weight?" What agency would be responsible for crime? Theft/loss/a glitch? Computer "glitches" etc happen all the time... I'm sure there's some snafu that hasn't occurred yet with BTC that will... humans are involved. Give it time...
The energy mined is recorded in an immutable ledger through its proof of work system, so yes it is.
It's consumed in the process - never to be extracted ever again.
No different than any other process that requires an energy input: cooking, machining, injection molding.
It's GONE.
Anybody can record how much energy was consumed in any one of the processes I just mentioned. Big whoop.
You can do that on paper or a rock even... you don't need a fancy ledger.
The fact remains - The one BTC zealots continue to erroneously dance around - that the energy used to mine is gone and cannot be extracted.
Your ignorance doesn’t insult me :)
You are simply wrong. It’s all good.
So it IS a religion...🤣
Lol… no it’s quite the opposite… it’s those who refuse to see that it is better in every way to fiat and physical bars of metal… those are the ones stuck in their religion :D
Only 2 things are worth anything in the entire history of the world:
Things that come out if the earth
Skilled Labor.
That's all. Everything else is trickery.
Good luck buying food from your local farmer when the power goes out and your precious electro wallet is all beat! 😆
What then, bright boi? Didn't think that one through yet?