How do (((they))) control this? and if they don't why would they allow it to get this far?

How do (((they))) control this? and if they don't why would they allow it to get this far?

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Because it's peanuts compared to real wealth
Also They have their hands in most of the illegal trade made possible by it anyway someway or another

They don't, that's why they hate it.

banks need prime numbers what bitcoin miners find and they pay for these numbers

its trivial for any real institution to take control of the block chain by owning 50% of the mining. don't be a retard. you just arn't important enough

level one jew here

>why would they allow it to get this far?

To profit. That's why.

People are content being ignorant debit card EBT slaves.

Cash is too difficult a concept for most people.

they have no choice; even if they decided to buy it off of everyone, the crypto market would still exist; in essence, they'd be QEing the coiners/people and we can't have that, can we? free money was always supposed to be for kikes only!
even if they bought every single BTC, there will always be some new shitcoin to carry on so buying out would be useless

kikes lose this time and it's for good, I think

In essence you are correct, this is the poison pill against the central as it eliminates the centre of any network. Now that the code is public people can make many new block chains for whatever reason they want

They just take over 50% of the block-chain processing power and refuse to process transactions. It's a trivial way to break any crypto-currency that depends on a block-chain and any bank could do it with 0.0001% of their total computing power.

I'm very well aware of this

for every action there's a reaction and there's loads of idle computing power across the globe... perhaps they could play cat and mouse for a while but never underestimate what determined autists may come up with, a solution to eventually counteract any attempt at disruption
I'm kinda thinking that every business will be forced to join the crypto bandwagon sooner or later
it's clear as day to an increasing amount of people that this is the future - better, cheaper, more resilient and so on

wow

this is what Sup Forums has become hope all of you are happy

Determined autists can't compete with infinite FIAT money. Don't mistake your insular echo chamber telling you your currency is secure as reality. The block-chain tech is inherently flawed and exploitable by any entity with sufficient computational power (Any big bank / government) and desire.

They control it the same way they controlled gold, by owning most of it. It's still the best option for us by far, but it will not solve any of the root of the problem.

Sounds like the diamond industry

you guys shoud look at ETH, it's backed by major banks such as Goldman , JPMorgan and corporation such as Intel, Microsoft and BP. Bitcoin is a distraction at this point, they can't control it because there is a finite amount, the jews WORST enemy is something which they can't replicate out of thin air. Which is why they've all shoved millions into Ethereum because there is an infinite supply of coins that can be mined. What a suprise ey goys? The coin which has an infinite supply is backed by (((them))).

>ny bank could do it with 0.0001% of their total computing power.


lmao you have no clue do you? go check the current hash rate of btc you retard

It's not profit. It has taken place of gold as value storage(you can't take gold over a border). When economy starts recover, price will go down.

I did about an hour ago. It would take my bank a fraction of their computing power to take over the block-chain and reject all transactions making your crypto-currency crypto-trash

Pretty much. Since crypto is modelled on commodity money, like gold, it has the same problems inherent to those systems (and gold is how guys like the rothschilds got rich in the first place, remember). Any sort of relatively static money supply that is privately controlled will have these problems.

Static supply is even more easily controlled by them.

I still don't think they'd be able to contain it even if they tried, that's my point
banks as such have considerable capacity in their data centers but theirs are no different than any others', such as telco or cloud providers so I'm calling bullshit on that one
anyway, by merely doing so they'd effectively admit that crypto is a credible threat to them thus marking the beginning of the end to kikes' favourite pastime

Normal computers are useless, you need special mining hardware to compete.
Please research before posting.

discord.gg/UV58WBj

>I have strong opinions of things I don't understand

that's nice

woah i just noticed the $500 price hike. what the fucking shit ?

dude you literally don't know what you're saying HAHA just stop please

>hike
*kike
ftfy

Yeah, no.. To mine btc anywhere effectively you need specially designed Sha-256 asics, not just any cpu/gpu. Only a few manufactures make these asics.

>EBT
Mountain jew is nervous their only sector will be replaced by crypto

there is, however, an alarming, almost parabolic influx of fresh fiat into crypto since last month or so
I'm still optimistic waiting on the next dip, I hope it happens otherwise I'll never reach my goal of 50 BTC

The best thing about BTC so far is that it literally raised AMD from the dead for that period of about 8 months when the 7870 was still the most cost efficient mining hardware

how far removed are you from the head honcho, family-wise? I heard the amount of monthly state gibs is proportional to that variable

>They just take over 50% of the block-chain processing power and refuse to process transactions. It's a trivial way to break any crypto-currency that depends on a block-chain an
and we will have a perpetual cycle of new cryptos. trust me there will always be a way to keep it out of (((their))) hands. if they wanna pocket it, we will devalue it by perpetually switching to a new crypro. when there is a will, there is a way, and paper is fucking going out of style. technology is on our side as long as we get off the drugs and lern to code.

Illussion of freedom

In the end you are still trapped on this planet with them

LOL. No they don't find prime numbers you moron. They find a hash value with x amount of leading zeros. Fucking dumbshit

>50 BTC
What's your home address? I'll be visiting soon.

>what is xpm

>Determined autists can't compete with infinite FIAT money.
would be immediately rendered worthless

checkmate

next decade's gonna be interesting, to say the least
it's not too late to join the crypto game anons, however do your research before making that call
least you could do right now is open several accounts at different exchanges so when you're ready you won't have to wait for initial verification which is known to take a while
I'm sure you'll be the whitest person in my little town when you do

most people i know shilling for btc are jews. The danger of it will be when you will want to transfer your btc to other currency. Who controls this in your opinion? btc is a scam.

>The danger of it will be when you will want to transfer your btc to other currency.

This makes no sense.

and wheres amd now? ;_;

>he doesn't know about cryptocurrency banks and coin hoarding

Ryzen is a beast. The only reason it got any bad rap is because gayming manchildren control tech 'journalism', reddit, and Sup Forums. I can't wait for the Naples processors to drop, they will cut my computing costs in half. I'm also planning on using a zen APU for my next HTPC build.

How will you sell your +1000% btc to other currencies? You will go to a private company (controlled by who?) and sell them your btc?
Once you have invested fiat in the system, you won't be able to take it out.

>what is a currency exchange

How do you think people turn btc into usd currently?

I don't think it's a scam for it's been going on so long and survived everything thrown at it
with that said, I wouldn't advocate throwing in more than 30% of one's play money towards it but it definitely deserves consideration, especially considering the gains to be had and their tax-free status in my country
I don't really care about transforming it back to fiat; there will come one day when you'll be using BTC/ like paypal and that day is ever closer

The goyim doesn't even know.

Butt coins are gay, the block chain is were it's at.
One day that could replace a nations bank.

(((They))) don't control it, they hate it. Also it hasn't gotten really far anyway, it is only used for illegal mostly, once bitcoin is actually mainstream (((they))) will probably try to destroy it.

It's already easier for me to pay for most things online with bitcoin. I just scan the qr code with my phone and it's done.

>tfw you make a decent profit

Nocoiners go kys

They invested early. Almost 90% of bitcoins are owned by 100 wallets.

>I don't really care about transforming it back to fiat; there will come one day when you'll be using BTC/ like paypal and that day is ever closer
that's where you are sadly mistaken. Because there is no guarantee. The only secure way to store btc is cold storage (sites like coinbase WILL be hacked, it's just a matter of time), way too complicated for the average user and that's why it will never gain popularity. Paypal can already do what btc does (send money to someone online) and it's way more secure.
sell it to someone, but what will you do when nobody will want to buy after the classic pump and dump scheme?

>sell it to someone, but what will you do when nobody will want to buy after the classic pump and dump scheme?

they've been saying this for years now

I don't believe this

those 100 people would not be so transparent

they would definitely store them in different wallets

do you have the wallet ids for these accounts?

any distribution in pretty much anything you take a look at follows the pareto principle, no reason this would be any different in crypto
goes without saying, any crypto that isn't in kept in cold storage is used for trading or spending; I'm not addressing trust or stability of exchanges; the hacks and hiccups happening on them have nothing to do with blockchain tech

Interesting how this amazing system seemly sprung up out of nowhere one day

I reckon bitcoin is a test run that central banks are keenly monitoring

and? Bernard Madoff was scamming people for years too before it collapsed.

Do you really think you will be allowed to trick the governments and the banking cartels, two of the most powerful organizations on earth? big lol.

this is the equivalent of believing that the government can crack strong encryption

you're just mathematically wrong

if btc was a real threat to the system it wouldn't be allowed. Having btc will be totally worthless when you won't be able to exchange them for fiat money or pay your rent. Which is exactly why btc is just an elaborate pump and dump scheme ran by nerds.

>sprung up out of nowhere one day
fucking newfag

fuck off commie

>trick the governments and the banking cartels
like they've been pumping and dumping entire populations for ages, right?
keep in mind that people have been exposed to truly free flow of information for only a decade, and even now it's diffucult to discern truths from falsehoods even to the initiated navigator of the interwebs

the powers that be are powerful only as much as the public allows it; as monopoly on information delivery crumbles away so shall people's consciousness collectively increase thus peeling away all the bullshit that's built up over time
you think the world shall continue in the manner of shorn sheep as it has since the dawn of kikey usury? if so, then you're either retarded or disingenuous

same way as (((they))) control bittorrent and same way they allowed it to get this far

If you ever visit /biz/, you'll notice it's all paid eth shills shilling their scamcoin

There's literally Jews paying the same type of degenerate faggots that Hillary's campaign hired to shill for her paying to shill this scamcoin on /biz/

so how is it a scam then?

bitcoin will help (((them))) launder money more effectively. They've no real reason to kill it.

It doesn't threaten the banking cartel. You can't get a mortgage in bitcoin.

What is bitcoin backed by? An idea?

There are coins in existence which don't have that issue.

>"Cold storage is too complicated!"
>what is a hardware wallet

it's a classic pump and dump scheme, nothing new. Nerds just added an ideological side of it and clever people will be lured into it.
It's a scam because the only way to receive fiat from btc is to find someone who wants to buy. And you have the antifraud agencies closely monitoring the private companies / people exchanging btc for fiat. They know tons of btc is dirty money from illegal activities. They will make sure this money wont be laundered. If you can't buy common goods with your btc, it means it's totally worthless, just used for pump and dump

secure cryptography + network effects is basically what gives it value

and then I said "for the average user" yes, which is the truth.

I used to think that Bitcoin was something to go against the (((bankers))) with, but I see through that now.

As more and more countries move to make Bitcoin legal tender, the truth is coming bare.

Bitcoin is the most fiat of currencies. There are no paper Bitcoin bills. No physical metal coins. Sure, you could make them, but that would defeat the purpose.

Bitcoin is created out of the tiniest amount of electrons for nearly zero cost, and people exchange hours, months, years of their labor for it.

Imagine if I had a replicator that took nearly no power to run, like in Star Trek, and I could just replicate 99.99% pure gold bars, and bought houses and cars with them. That is bitcoin.

Invest in silver bars/coins and 22/24k simple gold jewelry.

is mostly for illegal things (drugs) and the jewish game (speculation)

I don't think you understand how cryptographic proof of work actually functions.

you clearly have no understanding of how bitcoin works

digital scarcity. you can copy an unlimeted amout of dicpics but cant copy bitcoin

>more and more countries move to make Bitcoin legal tender
which countries? you can get paid in BTC in those countries? you can pay taxes in BTC in those countries?
not yanking your chain, genuinely curious

I know full well how it works.

There are a 'finite' amount of bitcoins to be mined.
As more are mined, it takes longer and longer to be rewarded for mining, to the point that you are paying $500 in electricity to mine and get $1 in bitcoin value.
Bitcoin baits people into providing servers and processing power for essentially zero, allowing Bitcoin to be floated for free.

>Bitcoin is the most fiat of currencies
>finite supply

kill yourself

>you are paying $500 in electricity to mine and get $1 in bitcoin value.

this is completely false. at that point you are mining for transaction fees as a reward to keep the network afloat

cnbc.com/2017/04/12/bitcoin-price-rises-japan-russia-regulation.html

>"Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week. Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin. "The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email."

What exactly do you buy currently with Bitcoin?

And where do you buy stuff? I know purse.io but that website seems to be pretty limited.

What is the worth of any medium of property transfer backed by? Why does western union make money? Why do we pay banks to transfer our money for us?

Gee, it seems like a relatively frictionless worldwide medium of token transfer is something that a lot of people want. Whowuddathunkit?

Prove to me that it doesn't cost more in power bills than you get in rewards for mining bitcoins on commonly attainable consumer hardware.

last time I checked its perfectly legal to just take the crypto coins and run.

making quite a pretty shekel arent you schlomo?

But PayPal is using money that is controlled by banks that print fiat.

That is the difference, at least with Bitcoin.

Other crypto's are far more anonymous than Bitcoin and have other advantages.

If people are mining, it's because it's profitable for them. It's a free market, nigger.

this. bitcoin is the future. and Jew bankers will have to earn money like everyone else when everyone ditches fiat.

It's pretty simple: if you use bitcoin, you are trusting your money to a complex system you don’t understand, people you know nothing about (who created btc again? how do you know no government is involved?), and an environment where you have no legal recourse. In the traditional world of investing, this would raise enough red flags to make it a bad idea.

That bank would have to be made of transistors to have the necessary computing power.

You're a joke of a liar. Nobody with tech knowledge believes you and there's no use convincing anyone without tech knowledge of this because they don't care.

>It's pretty simple: if you use bitcoin, you are trusting your money to a complex system you don’t understand
but user, this is what's been happening since forever with fiat; government or government-assigned monopoly makes no difference
average joe knows shit about how fiat comes into existence and sees no further that those couple of bills in his pocket
joe is the 99%, as it were

How many of them are too dumb to understand that electricity costs them currency each month?

You mad BTC has bent bent gold over?

>legal recourse
oh yeah, you don't need it because there are escrow services available when needed
trust is built into the plathorm itself so checkmate central bankers

because they dont control as much as you and this fucked up new Sup Forums believe. those fuckin jews dont control shit and you feeding into your own "fear" about it is the only reason you think so, just like everything else it started as a joke, then overtime people blatantly believe it as fact. kind of sad the mentality of fearing being ostracized this generation and mankind in general has developed