Bitcoin Redpill

Daily reminder that the highest form of Jewish power is their dominance over the international banking industry.

Elite Jewish banking cartels literally issue money on credit to governments and banks globally and that money is distributed by way of usury fractional reserve lending.

The international monetary system has been irreparably broken by generations of systemic abuse by an elite union of old-world (((families))) who have slowly convinced governments to convince their people that usury fractional reserve lending of currency that isn't backed by valuable reserves at absolutely brutal interest rates is either beneficial or in any way sustainable.

ELITE JEWISH BANKSTERS PRINT MONEY WHEN THE WORLD NEEDS IT AND LENDS IT TO THE WORLD ON CREDIT.

Your beloved Capitalism is actually Jewish Creditism. There is no more capital. It is almost entirely credit, and that credit is itself backed by nothing other than, essentially, your fear of losing it.

Daily reminder that Bitcoin subverts the global banking racket by establishing a currency and an infrastructure via which to exchange it that is resistant to efforts on behalf of the Illuminati to destroy or control it.

Bitcoin was literally designed to become stronger the more it is attacked.

Whether or not you have a technical issue with Bitcoin's fundamental code is of less significance than the actual idea of taking power away from the cultural marxist Zionists that have spent a thousand years developing a system that conditions us to complacently accept our positions as sub-Jews.

And we are sub-Jews so long as Jews control the money.

Put your dollars in bitcoin user, not because of muh gains and muh lambos,

do it to contribute to your own freedom.

They're going to dominate the blockchain, you dolt. It's a handful of programmers forcing out the 'updates'.

So they can own 90% of Congress and Hollywood, but they can't get to these precious neckbeards?

You were all dumb for ever supporting a crypto monoculture in the first place. Now that shit is locked in.

Mining is full lottery-tier now. Not something that can be a profitable business any longer. You can't compete with the dorm roomers, the botnets and the ching chongs. You literally have to be stealing electricity to pull any profits.

what does 'controlling the blockchain' literally entail?

HYPOTHETICALLY SPEAKING:

What happens if, say, a massive solar flare hits Earth, knocking out power for several months...
How much will Bitcoin be worth?
How usable will it be?

Also, HYPOTHETICALLY SPEAKING.
If one were to move somewhere with limited to no internet access, how can Bitcoin be used to pay for goods and/or services?


NOT shilling for the kikes or whatever I will be accused of. Merely asking a few hypothetical questions.

the point of mining isnt to make a profit,

if the difficulty adjusts,
the profit will go down,

and the hashrate will follow the money.

the strongest chain will survive

>solar flare

name one time the entire internet has gone down for even an hour.

the entire internet.

>no internet access

Bitcoin require the internet. right now there is no way around it. coins can be kept offline however their location and configuration is kept in a distributed database across the internet.

Weird, because i remember bitcoin was pretty popular in israel way before I heard it on the goyim media. I started to mine bitcoins back in 2013 when it was easy with your own processor.

ok I agree the solar flare thing is far-fetched.

say I want to move to somewhere out in the sticks, where satellite internet is the best connection possible. somewhere where no Wal-Marts (assuming they'll accept crypto-currency in the future) exist. somewhere where "Bill's General Store" and "Gary's Hardware" are still the biggest stores in town.

How will Bitcoin ever replace a physical currency? (Not just Rothschild money either, I'm saying gold or silver-backed currency)

>the point of mining isnt to make a profit,

It most certainly is the point. It costs money to mine you stupid commieleaf.

Mining is the very thing that keeps the blockchain so secure. If there were not so many independent actors trying to solve the hashkey at one time, an double spend exploit would be script-kiddie stuff.

So as I said, lottery-tier. Most people are mining just to keep the bitcoins they already mined and profited from secure.

And the strongest chain is the only chain. That's the point. Read the whitepaper.

how does the physical coin aspect of it even work? who mints them?

If one Bitcoin is worth $5,000 Rothschild dollars, and I only own fractions of one Bitcoin, are smaller denominations minted? What are said coins backed in?

If there is a massive solar flare or EMP attack, you've got bigger problems then just your missing Bitcoin. BTC can only go down if the entire internet goes down, but the government and banks also need the internet to stay up. And as long as internet is running in some other country, then the blockchain is recoverable and so is your bitcoin.

If power goes out everywhere and stays that way, you'll need guns and ammo. Months, people might accept your USD and gold. Price of bitcoin would probably tank tbqhwyf.

its the same for money and you can convert some hundreds to dollars for random shit

There are no physical properties to BTC besides the hardware, paper, or brain wallet it's stored on. Exchanging BTC using paper stubs is feasible but pretty much full retard because it'd still require internet connection to verify the amount on the wallet.

Control of 51% of the network

There are several possible technical exploits, all currently assumed to be prohibitively expensive.

You could apply sufficient processing power to the network to acquire 51% of all processing power at any given moment and impose a fraudulent blockchain on everyone. Without quantum computing or full global communism, it's unlikely this can succeed.

You can also orchestrate a collusion between 51% of the mining power and accomplish same. As mining farms are increasingly moving to dedicated third world farms, managed mining pools, and illegal botnets running in the background of corporate hardware, this will become more feasible. Last I checked, it was already true the top five mining pools had nearly a third of all mining capacity.

But what I was referring to is the code. They change the code all the time. And it's the same 'Bitcoin Foundation' orchestrating the changes every fucking time. If the Jews attack, they will attack here. It's only a dozen or so people to 'compromise'. Then you will get an 'update' that's as good and necessary as fluoride in the water supply.

this will not ever happen

> hard fork

There is no physical coin aspect. For a coin to be kept offline it needs to be on a hardware wallet (trezor or nano ledger s) or a paper wallet (printed with public/private keys). The smaller denominations are called Satoshi's. 1 satoshi is 0.00000001 BTC. The coins are backed by being a trustless means of exchange. Meaning a 3rd party is not necessary and all exchanges can be verifies within the blockchain by everyone.

if you move to a region where there is not internet, but there is still economic activity, i'd be curious to know where that is.

granted there are a lot of rural areas that have no direct internet access, true.

the idea is that by the time bitcoin becomes a serious contender as a reserve currency, or even a national or widely adopted currency,

Bill and Gary will accept it as payment.

during the adoption phase, yeah there are gaps. there is a huge knowledge gap (these threads are a good example of that), there are utility gaps, and there is a lot of fear, uncertainty and doubt coming from the top down because of how disruptive bitcoin's potential is.


the truth is,

is that governemtns are banning cash.

in France, it is illegal to spend 1000 Euros in cash. illegal.

Bill and Gary will slowly be forced to use the Jewish bankster's infrastructure, which will only serve to control them and prop up the Illuminati.

if Bill and Gary can accept Visa in a cashless society, they might also consider bitcoin.

...

you are wrong.

the point of mining is to secure the blockchain and process blocks.

the point of mining is not to profit.

if miners are not profiting, the will stop mining, until it becomes profitable again, and it will resume.

>the strongest chain is the only chain, read the whitepaper

nigga this shit is my career. there are several chains, some that have greater hashrates than bitcoins at times.

you are suggesting that people only mine for profit which is stupid.

plenty of people mine at a loss for speculative reasons.

you are saying that a system of usury creditism is more sustainable than bitcoin.

i can't refute that because its only 2017, but if you think the current system is 'working', then you've fooled yourself

There's no physical coins. At best you can put a wallet address and passcode on physical medium and say this is 'X bitcoin'.

But you'd still need to login and move to your own wallet to know it was legit.

and what would that enable them to do?

get every bitcoin that gets mined

No coin is "backed on" anything since the Bretton Woods Agreements.

Who do you think owns Bitcoin, then?

explain to me how having 51% hashrate power enables you to solve 100% of the blocks

bitcoin is 'owned' by people who have access to bitcoins, most usually those individuals and organizations that control keys that the blockchain says hold coins

You may suck at your career. Mine is rick management, btw.

The mining function explicitly intends to exploit the individual profit motive. When you have botnets getting electricity for free you have a far greater likelihood a simple majority of mining power will fall into the hands of a oligarchy of botnet operators.

Thus when mining is not profitable, your bitcoins are in fact at greater risk than when mining is profitable.

Paying Brinks drivers $30/hr as opposed to $10 is required to maintain their level of security. This is no different.

END THE FED BUY BITCOIN

It's our chance guys

>rick management

wew lad.

I also do Risk Managment/Risk Transformation.
Buying bitcoin now is the biggest financial risk management action you can take, and the most successful people in finance are doing just that- despite what they say.

with 51% of all the compute power you acomplish several things
>destroy confidence in bitcoin
>fake/and reverse transactions aka double spend
>block other mining pools from mining

*Nixon shock

That's not even true. The blockchain is entirely worthless without mining activity. The three pieces all depend on one another.

To put this in realpolitik terms: The holders of Bitcoin are both the 'consumers' or 'users', the miners are the 'workers', the code itself is the 'capital' and the programmers are 'management'.

i'm doing just fine thanks.


okay i can understand your point that being essentially backed by electricity can lead to mining centralisation

is there a better idea for acquiring proof of work? or is there a better method to authenticate a distributed database than proof of work?

these systems are seven years old.

already the idea of centralised mining occurring due to electricity disparity sounds more fixable than a closed sect of ancient families based on ethnic and religious heredity

but good points

Fuck you are dumb. You think a typo makes you smart.

You don't do shit but shill buttcoin. I was like you once. Now I know it's utterly unthinkable a gen 1 cryptocurrency could ever become the some kind of global standard.

But you're smart. How's that flip phone treating 'ya?

Bitcoins are real world party hats!

>double spend

Changing historical blocks, transactions locked in prior to the start of the attack, would be extremely difficult even in the event of a 51% attack. The further back the transactions are, the more difficult it would be to change them. It would be impossible to change transactions prior to a checkpoint, past which transactions are hard-coded into bitcoin's software.

The more adoption occurs, the harder majority attacks get

Wow, that a lot of projection from a little minded person. How's being proven wrong constantly effecting your testosterone production?

N/m- it's obvious

still a better conversation than what occurs on /biz/ kek

Bitcoin is just internet gold without the benefit of being made out of actual subatomic particles held together by strong nuclear force. It's just numbers in a ledger. Jews are masters of taking over that shit. I think they developed blockchain tech in the first place. It's a NWO dream currency.

describe to me the attributes of a system of money that would uncucked from Jewish Illuminati.

Price of bitcoin would be frozen until civilization resumes, at which point many coins may be lost and the price my significantly increase as demand returns.

>do this
>suddenly a mysterious virus attacks the exchanges and governments demanding crypto payments
>non state chains outlawed

You know this is whats going to happen
Soon

The hypothetical 51% attack allows them to rewrite the ledger any way they see fit, however, the value of bitcoin would be destroyed in such an event where the rules are violated.

Literally gold and silver directly.
No Jew certificates that start out being convertible to gold and silver but turn into pure fiat when they print too much.

It hasn't come to me yet.

But the whole flaw with 'proof of work' is it's actually 'proof of purchase/theft'. You purchase or steal processing power. You purchase or steal electricity.

The only thing keeping the system 'honest' right now is the deep desire for the bitcoin elite to maintain the source of their own wealth. Perhaps that will be enough. But we all know they're no match for the 'real' elite. The entire Bitcoin economy is probably worth less than Soros' checking account.

Daily reminder anyone that used bitcoins should be shot. They enable terrorist to thrive, pedos to continue buying up children and drug loards poisoning our people. Hell since it supports pedos, get lawmkers to track down everyone that used it and get pedo supporters raped in prison.

Bitcoin will have zero value if things really go bad and things collapse
Paper money at least has value as toilet paper or for starting fires

If Bitcoin is ever a real threat to the bankers, the government will just ban it with justifications such as its used mainly by scammers or drug dealers for money laundering

Then they will release their own official fully controlled crypto currency and make all others illegal, with serious fines or jail time for using them

>buying bitcoin
>not buying litecoin, etherium, ripple, etc

You haven't proven shit.

>goldstein
>silverstein

what im saying is (((they))) control the distribution of precious metals because they own the mining companies and lobby the governments

if the argument is that (((they))) can also get their grip on the hashrate, then no i can't totally refute it because it is conjecture.

don't get me wrong tho, i would in fact gladly return to a pre-Nixon global economic environment.

i have alts mostly eth
idk why tho nothing ever happens

i only got into alts so i could get monero to use on the johnny depp webb

If bitcoins are so great, give me a couple of bitcoins.
>your smart ass comment here

rest my case............