If I gave you 1$ and told you I would match what you had left of it tomorrow, and I would continue to do this forever, would you not be hesistant to spend money? Wouldn't you skip meals? Maybe choose to be homeless etc. Doesnt deflation promote people to spend money? I know there are smart anons on polI wanted to get some thought on the senario I presented. I see so many threads here arguing the same points, and lets face it, no one know whats going to happen, but if this bitcoin was to go on like this forever wouldnt you have a system where everyone sacrafices thier standard of living today for the promiss of a better tomorrow? How would industries adapt to a would of deflation? Would they need to lower prices constantly to try and pursuade people to spend? This is a hypotetical future so if you could work within this bitcoin as the gold standard senario Im putting forth instead of arguing it will never happen Id like to explore what this end game may actually be if sucessful. Wouldnt it be enslaving opposed to liberating? Thanks in advane Anons!
Will crypto enslave the world?
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Sorry I meant doesnt inflation promote people to spend money since that dollar on a candy bar today wont get you much in 10 years opposed t the opposite situation in Bitcoin gold standard world.
bump? Hoping for a new angle on this discussion please clap, I mean comment.
I would not spend it until I got to the point where you are giving me thousands a day and eventually that will turn into millions
But everyone would also be doing that and being amillionaire would lose all meaning. We cant all be super rich right? So wouldnt we all be chasing the dream to be rich while being enslaved by our own lack of spending? How would a world work with a finite supply of currency?
I spend money because i work for it and it is my right to do so. Hoarding any form of currency was never a good idea, be it gold dollars or crypto.
Besides that crypto is a total jew trap for dumb people who think they can get rich by investing in useless crypto data.
Its like having a spoon. I bend the spoon and its a bend spoon now, my own currency. Of course everybody is able to make some currency on their own-aka bend spoons. Hey somebody declared a price on the spoons so we can exchange them somewhere for real cash-but where? Whatever. Some poeple have a truck full of bent spoons, wow so rich.
At the end its a useless item that you paid for in not bent spoons/electricity and your own musclepower/gpu.
Nobody needs bent spoons and nobody asked for this kind of currency.
ideas are forbidden on /pol
this place is for cult discussion only
Yes I see the same arguements and see your point of view, but Im asking in a hypotetical world if this bitcoin DID happen whats next? I know arguements for why it wont ever happen, but if it did how does a system of finite cash work? Everyday things become cheaper? People begging you to spend? People starving themselves out of greed?
Hahaha you stupid Goyim don't know we own bitcoin and eventually we'll get rid of cash altogether but when it happens we will control the new currency as well and because it's all electronic no one will be able to buy or sell anything without us knowing.
Well ya thats sort of where my line of thinking is going. Im saying that (((they))) wouldnt even need to control it our own greed would have us control ourselves. Like my senario of the 1$ exponentially doubling. Hyper deflation could control people to limit thier activity. People glued to computers getting richer while never experiencing life.
Kek
...
Would also fit in with our current culture of social media narcissm. Everyone positing thier bank account statement trying to one up how wealthy they are yet no one wants to buy themselves lunch. Is this the future? Post consumerism?
I hate to say it but I think so.
No. You'd need to save for a bit, but soon growth would be so large, you could afford to spend. Imagine if you had a million dollars this way, would you spend a hundred or two a day? A thousand or two?
At some point, with consistent growth, you have enough money.
It will neber happen. If it does people would stop accepting it and dtart exchanging goos without currency. And its obvious that this will lead to many wars because most of the people on the worls habe nothing to offer. Its not the middle ages anymore.
Bitcoin suffer from the same as any market with limited resources: it become a especulstive Gambit. When bit coin was 6k it shoot right to 10k, now people are buying it considering it will raise more, and people inside is holding on waiting it will raise more. Since the global amount is small, even when a small ammount is converted to $ it will bounce the market, and the same kind of investor that placed money will try to realize profits as soon as possible or limit losses.
Gold in the other hand is much more stable because there is much more available. It would need a massive gold selling to break the market and gold never ever faced such in face of Fiat money
Right but isnt it all relative? Are we not essentially all in competition in an economy? Wouldnt everyone be holding out like a mexican sandoff?
I know the senario I presented isnt realistic but it would be a one world finite currency situation in my thought experiement. What if the US crashes or something leads to my senario. A system with a finite supply of cash. How could it work? Only this one currecy would be accepted. Just had a sobering thought in the excitement of this crpto craze. Its too good to be true and Im not special.
If everyone has money no one has money, or the one who have more money has more power.
Just look at Venezuela, they have no money, in special government, so it keep issuing paper money. Since everyone has money it lose it's value, and you need more because everyone has it.
Money is just a form you can atomize trade using it. Money, even gold has no intrincical value. When obongo issues billions of dollars as economic recovery it's just inflating the market artificially.
I have no clue what you're trying to say and I know what I'm talking about so let me make it clear. Bitcoins out of control price increases invalidate it as a currency. Deflation and Inflation are both destructive forces at the opposite end of the spectrum that undermine stability and fairness. So, the ideal condition of a currency is to remain stable and retain a fair non-changing value.
The exchange of currencies is called : Forex. No currency in the history of forex has the ability to climb double digits or triple digits in relation to another. Any such currency that does this is attempting a theft based currency. If you are interested in this, simple google forex and currency pay price movements. They are small and subtle. China is labeled a currency manipulator just from single digit %'age changes. Now look at Coin (((currencies))) and see double and triple digit changes. So, coin systems aren't currencies.
So, you ask what are they? They aren't commodities either but lets say they are. Say a particular commodity is soaring in cost across all currency pairings. What is that? Inflation. In the case of bit coins, it is artificial scarcity paired with unregulated spot pricing that is likely being manipulated to insane levels. This is known as a bubble. However, since bit coin is an intermediary it is known as a ponzi scheme whereby an earlier entrant passes the buck to a newer at increasing levels of insanity and risk at higher prices. It isn't a commodity because it has no intrinsic value. It's just data bits which have no tangible value.
What is a public immutable ledger? It's a way of tracking all transactions in full via of the public. A data miners wet dream and a privacy nightmare. Why is bitcoin so inefficient? Because this is what gives it ((((value))) if you want to call it that. It's a backdoor tax on computing resources and energy. It is wallstreet's carbon tax credit scheme.
Right my situation is the opposite so say you are richer than me, but I could catch you so even you as the richer man would have to be very frugal. So essentially we are rich on paper but poor in reality. Could this be the endgame down the road. The the classic NWO one currency meme.
Wow here I am with stoner thoughts and shit just got real. So whats the end game user? Do you trade crypto inspite of all this since all that counts is profit? What do you see happening when the bubble bursts? Please share more.
When you have a finite amount of money it over valuate, because all people want it. All things got valued against this money according to market rules, ie, according to demand and scarcity.
In places like Venezuela where you can't get dollars and basically there aren't any national goods anymore, it skyrocket.
Fiat money or whatever is not the issue, the problem with fiat money is that governments can print money St their own will, which devaluate money due to it own abundance. Basically higher inflation is a form of hidden taxation because government print more money to spend while removing purchasing power from money in hands of society.
There is also the issue that banks can lend up to 20x the amount of money they have, all working to remove real value from society and effectively transferring money to wealthy persons.
The nice thing about Bitcoin or any money with limited issue is that governments and banks can't draw it from thin air. In turn this makes the money more trustworthy
So, yes it will enslave the world and yes it was designed to do that. No it is not a revolutionary technology or economic means of commerce. Technologically, distributed ledgers have existed for quite some time. They are used to proof and sync distributed databases. All of the algorithms utilized minimize compute processing. Shitcoin maximizes it as its aim isn't efficiency of processing. It's aim is inefficiency so as to extract partial value from energy markets and computing resources and attempt to redirect it in support of a ponzi scheme.
Distributed ledgers are to be held private so as to cut down on the computational resources needed to protect it. Accounts should never be anonymous. Transaction data should be. Instead, you have anonymous accounts and public transaction data. As you can see, coin systems do everything in reverse exampling its true intent as an inefficient public tracking wealth redistribution system. Only a fool believes that this is a revolutionary technology aimed to free people. It is quite frankly and clearly one of the worst fiat systems to be ever made and goes even further so as to publicly disclose everyone's transaction data (something you'd get sued to high hell for doing) from existing privacy laws.
It's not that people who participate in this ponzi scheme are that dumb or blind. It's that they don't care and are filled with greed and a lust for making something for nothing. They are not innocent. Not a single one of them.. They are captured by the ability to make something for nothing (theft). The people who design and run this system have a bigger game in mind. The fact that they promote this as revolutionary and a system to free people even though it is meant to enslave shows how blatant the misdirection and lie is and how massive the destructive goal is.
The higher the value of Bitcoin goes the higher is the risk of bubble burst. When the market breaks no one will want to hold it knowing or not how much it will devaluate or recover.
Look at this shit 100% valuation in a month it's insane
LMAO niggers are afraid of blockchain. It's not the bitcoin but a better currency will give us freedom from central/private bankers.
After thousands of years we are finally able to create and control our own currency to not to get raped by inflation. Don't be stupid or afraid. This is a revolution. Stupid people will continue to get raped by banks, smart people will use it and get rich day by day.
Bitcoin is a pomzi scheme, but central banks with limitless money printing capacity isn't good either.
I prefer going back to gold
There is no difference between gold and crypto. But if you want to insist check this out.
So its a racket to have these coin mills burn tons of energy whilst producing nothing? And we flip the bill everytime we buy in? The trading is just plaing online casino as a distraction for the greather scheme? Am i understanding correctly? Does this have any relationship to global warming and those carbon taxes? Who is responsible for this China? If I misunderstood pleasey elaborate :)
> So whats the end game user?
A global enslavement currency with the inability to circumvent a new rule of law as all transactions can be publicly scrutinized. Draconian dynamic restrictions as to what you can spend money on. Dynamic product pricing based on demographic background. Automated tax extraction from your accounts via smart contract tax laws. Internet of things is going the way of smart contracts thus every device will tie into this ecosystem. If you think data miners/facebook/google are bad in their current form, you haven't seen anything yet.
> Do you trade crypto inspite of all this since all that counts is profit?
I never have in my life. There wasn't a single good intent behind it from the start. I saw it for what it was years ago while it was festering and waiting to make its mark and stayed the hell away. I don't want its mark or my name ever to permanently cemented in its ledger. It is the 'mark' that has been spoken about in ledgend.
> What do you see happening when the bubble bursts?
Idiots lose their money. However, it doesn't seem, given the sheer power and benefit it will have for (((them))) to ever be allowed. That being said, all of the current coins are a honeypot and beta test for the real thing. Corporations wont be doing conversions or pairing with them. They'll issue their own in private form tied to their existing financial systems, get regulatory approval to do so, and take a shit on all existing non-bank backed/certified coins. So, people adopting random coins are literal guinea pigs and test dummies. The end game is zero bound for them... But, such is the case for all ponzi schemes.
And yes, quantum computers can crack a number of encryption schemes including blockchains and wallet ids quite easily from an information theory standpoint giving access to penetration by you know who at will.
What else would you like to know? Ask away.
The only real currency is called bulletcoin, they can be deposited into the tissues of people who don't do what you want.
Well my freind got me into it about a year back and I got someone into it recently so I see the ponziesque nature although having the best intentions when recomending it. Anywyas when explained to me i was described as the internet for money and I hate what the internet has become. Its a mass survalance system. So now they are doing it with money. This is the mark of the beast? The one world currency? Will be be microchipped? Will this be part of the transhumanist movement? I wish I knew the right questions to ask.
It isn't which is why, in a democracy, you get off your lazy ass and demand things be fixed and changed. (((They))) count on lazy asses instead being baited by the allure of an easy fix :
> Come over here goy and buy freedom coins.. it will free you from fiat oppression
Meanwhile, it's just fiat 2.0 and even worse. (((They))) count on lazy dumb fucks .. it's the definition of a (((goy))). There are no easy or quick fixes. You have to get informed #1 which most people aren't. Then you have to go and actively do something about the current system and practices to fix them. If you look at the history of bit coins. The first was introduced in 2008... At the roaring of the previous financial bubble. You ever stop to question the timing of this? The creator's name in Japanese stands for 'Central Intelligence' satoshi nakamoto. Recall all sorts of schemes came about during the crisis including : en.wikipedia.org
> siliconangle.com
So here we are.. back to pre-2008 levels in housing. Equity markets reinflated and then comes the modern ponzi rearing its head after being dormant for years. Are you going to be a greedy lazy goy and get fucked or fight for real change? Your future always depended on it. It seems people are chosing (greedy lazy goy) and the outcome will be disastrous.. O'well. The good thing is, all such people will be recorded in an immutable record for identification. (The proverbial mark on your forehead).
Rare
Underrated.
What is the significance of the record for identification. What is the harm in participating with these coins? Can you elaborate on the mark on the forehead please.
Stop fucking calling it crypto when its not even hiding your transactions.
Dumb fucks.
> So its a racket to have these coin mills burn tons of energy whilst producing nothing?
Partially yes. It's a way of creating a virtual backing reflected in the amount of energy/compute resources it takes to manifest. This is what is hidden behind the term 'proof of work'. Deciphering it, you understand that it literally is backed by extracted energy and computational time from the market making it a tax on both commodities. Effectively structured as a carbon tax credit scheme.. The one that was ruled a wallstreet cancer and shut down a number of years ago. Wallstreet never sleeps. They sunk their teeth in another harder to decipher version
> And we flip the bill everytime we buy in?
Yep
> The trading is just plaing online casino as a distraction for the greater scheme?
Yep and there is in fact no trading per say w.r.t to price discovery. The coin pricing works out of band from any traditional market. Its controlled by insiders/exchanges/and algorithms and is completely opaque to end users. Again, a wallstreet wet dream
> Am i understanding correctly?
Yep, you're getting it
> Does this have any relationship to global warming and those carbon taxes?
Yep. As it relates to global warming, this is an catalyst as it unequivocally is a broad scheme to waste our most precious resources : computational power and energy. As it relates to carbon tax credits, yes it is a similar such scheme
> Who is responsible for this China?
China has its stake. They produce all of the world's electronics and computational devices. Furthermore, they'd like nothing more than to undermine modern economies and create a distributed system of waste to set them back. Wallstreet does too as they are the ones who run the exchanges. Furthermore, they're exposing coin systems to derivative/options/futures markets by the end of the year.. the same thing that created the previous financial crisis. As there is no regulation, it will be many times worse. Then there's the data tracking
If its not user how was it used for drugs and blackmarket activity. I thought the whole sell was its private.
Your crystalization of coins and coiners is incredible. Ive thought the same for a few years. Even at its conception it was only used for evil shit like drugs and assassins and weird ass fucked up shit.
Many of my dumb goy friends fell for it. Im glad my Aryan Morality guided me clear of that bullshit. I tried to warn them, but they wanted to act like I was the dumb goy for not buying into it. Oh well.
Continue, and btw recommend some literature - my thoughts have been walking the same narrow path that yours do for the past few years.
My small buy in 20X and now im trading as a source of amusement. Are there negative consequences for this aside from moral conflicts of participating in such a foul system? What does it all mean for the average user larping as a daytrader for excitement?
>After thousands of years we are finally able to create and control our own currency to not to get raped by inflation.
How are YOU controlling your currency with crypto currency?
> ponziesque nature
> although having the best intentions when recommending it.
Pick one.
> Anywyas when explained to me i was described as the internet for money
Essentially the con. The tupperware sales pitch. The tulip. The conman flyer.
> Its a mass surveillance system
Yes. That's one of its particular aims.
> So now they are doing it with money
Yep. The final destination of many legends.
> This is the mark of the beast? The one world currency?
Yes
> Will be be microchipped?
Everything around you is and you'll need to be marked and tracked by this system to interact with it. So, effectively yes. Internet of things is on course for adapting this technology so you can see the tie in. Furthermore, existing privacy destroyers and data brokers like google/facebook/microsoft/etc love this tech as it extends their already corrupt business model.
> Will this be part of the transhumanist movement?
No. It's orthogonal and beyond man's grasp.. for good reason in their current state.
> I wish I knew the right questions to ask.
Come up w/ your wildest ones.
>crypto will free the world
ftfy
> What is the significance of the record for identification.
A full history of your activities interacting with ioT, purchases, people, Artificial intelligence, media.. think about it. Your life's history in an immutable publicly accessible record. Here, i'll give you a preview :
en.wikipedia.org
> What is the harm in participating with these coins?
You're furthering and beta testing a system that will be used to enslave you.
The bread crumbs you make are the bait. All significant schemes have their payline to attract and keep people in the casino. Life's simple : Work for what you have and scale this principal and things are fair. Any scheme meant to give something for nothing propagates and becomes an system of unfairness and theft.. you know like the previous one you wanted to escape.
Will the coin ever crash?
If so when? 5-10 years?
Do you have any insight into other major current events? I enjoy your post style, very well written.
It's open source and works on consensus. Most things are defined in the whitepaper and can't be changed. If they change you can choose another coin.
Dumb fucks says they can see your transactions; you can use monero(xmr).
Dumb fucks says its one(1) world currency you can use 10 other currency.
Currently only problem is Bitcoin. It became a ponzi like hype buble I admit that. But underlying technology will first free us and second make us more rich.
>A global enslavement currency with the inability to circumvent a new rule of law as all transactions can be publicly scrutinized. Draconian dynamic restrictions as to what you can spend money on. Dynamic product pricing based on demographic background. Automated tax extraction from your accounts via smart contract tax laws. Internet of things is going the way of smart contracts thus every device will tie into this ecosystem. If you think data miners/facebook/google are bad in their current form, you haven't seen anything yet.
Think about these "bitcoin wallet" devices... how long until some company says, "we can install one in your brain or some other part of your body."
They have a record and line on all of them.
How did anonymity work out for Tor/Dark web? It didn't. They compromised and even were running it for some time.
> motherboard.vice.com
> themerkle.com
> thehackernews.com
> popularmechanics.com
> Satoshi Nakamoto
Intelligence Central
Central Intelligence
They've been in it from the start and still maintain an initial portion of the coins... You're not anonymous. You're compromised and tracked in a immutable secure ledger that can be used at will for prosecution at any point in the future.
How will you defend against billionaires buying up bitcoins and then dumping them to make money, completely destabilizing the currency? How do you defend against Soros completely destroying all your savings in the bitcoin market?
>Dumb fucks says its one(1) world currency you can use 10 other currency.
Like we can today with regular currency?
Here's the archive
>motherboard vice com/en_us/article/jp5a9g/six-ways-law-enforcement-monitors-the-dark-web
unvis.it
> Even at its conception it was only used for evil shit like drugs and assassins and weird ass fucked up shit.
All of which is recorded in a public ledger and can be deciphered using heuristics and other analytical techniques. They can pull any of those people's cards at will. Instead, they use them to track down bigger fish and likely use it for at-will blackmail.
> Many of my dumb goy friends fell for it. Im glad my Aryan Morality guided me clear of that bullshit. I tried to warn them, but they wanted to act like I was the dumb goy for not buying into it. Oh well.
Indeed
I think I am going to 'cap these.
Is this really all a result of a relgion taking paranoia too far or is the usual red pill a smoke screen for some other entity. Has technology alredy reached a level of conciousness and is our enemy? Was it here all along and uses weak people to conjure it like Roko's basilisk? What is at the head of the snake of these legends? Are we in a simulation? If not, why are these notions being implanted into normies heads by celbrity scientises? Whats CERN doing? In madela effect real? Do we as individuals control the reality that surrounds us on a literal level or are those notions more metaphorical?
How greedy and stupid are you bitcoin guys? Obviously its just a step in the direction of a total control of money. You know that stuff in the Bible about how you won't be able to buy or sell with out it? (the mark). You guys are buying right into it because of your greed. Bartering, gold, bullets, these are real things that you should be moving into, not this dystopian scheme that will literally enslave humanity.
I think you guys over-estimate cryptocurrencies. A blockchain can handle like a few transactions per second and cannot replace a conventional payment system. A single trading platform, like Amazon or Alibaba has to process payments a few orders of magnitude faster than that.
What I am promoting is blockchain not the bitcoin. Regular currencies control by central banks, crypto currencies are not controlled by anyone. They have a definition from start and work by that rules.
Billionaires can manipulate fiat too.
Well, there's already tons of detailed documents on how all network infrastructure is compromised and tapped. That's one realization. The guardian published the bulk of it under an event you should already be familiar w/. Then there's cloud computing which is nothing more than data gathering. Any moron actively participating in this deserves what they get for whatever they put in it. With all of the data you put in the cloud and on social media, these people : en.wikipedia.org
My range is extensive, so if you give me a topic, I can narrow my reading recommendations.
>crypto currencies are not controlled by anyone
They are controlled by the rich. Atleast regular currency have some regulations.
The mega rich will keep flooding and draining the blockchain market so they can make money. Little Achmed in Turkey will spend his time trying to sell on high and buy on low just to scratch by.
It's actually quite problematic. As the guy says, it's a flaw that can be exploited.
But on the other hand, most of transactions are already monitored and recorded. Sweden for example is almost cashless.
I perform most of my finance with cash whenever possible, but it has its' limits.
In my hometown for example, you can't really pay for the bus fare on the bus.
You can however order some kind of card you can fill anonymously with cash. I think cash will continue to exist, but it seems unlikely many more people will be ready to accept it, due to it being prone to fabrication.
I mined my coins in 2011 for free.
The genesis block of bitcoin contains the heading of a newspaper front page talking about the banks being bailed out. Bitcoin is a response to corrupt governments printing money you dumb shill bots.
Are Bitcoin and Etherium widely used as currencies? No, they're just an investment venue for speculants and diletants. The only ones using them are neo-luddite wannabe cyberpunks on the darknet.
The bitcoin bubble is just another proof unregulated markets are a minefield of exploitation by speculant sharks. Not that libertardians will ever learn.
> Are there negative consequences for this aside from moral conflicts of participating in such a foul system?
Well, always understand, at the fundamental level that there is no such thing as something for nothing just transfers. If you're making something for nothing or making far more value than you are producing, there is theft/transfer involved. It's up to you as to how deep you go down this path with respective/relative consequence. In aggregate and in large enough volumes, you can see how an elaborate oppressive system manifests though correct? You take $100 out or a $1000. Someone else does.. it scales to 10 people, 1,000, million, billion and suddenly you've got a system of oppression for the real producers. There are other aspects to this system in beta test so be mindful. One thing that gets compromised when you participate in such schemes, which is of immeasurable value, is your mind. You can't escape that.
> What does it all mean for the average user larping as a daytrader for excitement?
They're just useful idiots furthering the cause. There was a graph published that showed the majority of participants maintain less than 1 bitcoin. Many years ago, there was an ethos of intellect developing.. Then came crisis to jar people from that pathway. It was at such times that people knew full well what bit coin was, ruled it a ponzi scheme, and stayed away. ffwd to the dummification of the world and a time of desperation and its back and roaring... Most people who speak about coins have not even a basic elementary understanding of economics. Furthermore, i'd dare say 90% of them have no formal education or understanding of the technical foundations. They go on forums and toss high level technical foundations around then go around chirping/LARPing it as if there is something technologically significant going on. It's not. The code base is a mess and is filled with security holes. The same morons who write web apps w/ 500 frameworks. Useful tools.
You are late to party like these ((central bankers)) bitches, aren't you. So you are salty. Just get over it. Technology will always move forward you just got to admit it and accept it.
We won't use fiat or gold from Lydians until the end of history.
All advanced countries are now cashless and everything you purchase is recorded by visa etc
>everyone sacrafices thier standard of living today for the promiss of a better tomorrow
oh my god
rewarding people for saving money
how terrible
This
>people were too late
Yeah nice argument in favor of crypto currency...
So people would stop this madness of massive consumption and actually just spend for what they really need? Wow truly the end of civilization
Gold is impractial in majority cases, also it's easier to scam someone when it comes to gold.
Though gold will continue to have its' value, it will continue to be a good backup currency. But with today's wealth changing hands so fast, gold has no chance. I can't order something from Amazon with gold can I?
That's correct, but the only limit to this system is block size. The problem with high block sizes is that maintaining such a system can become expensive (you need a large blockchain, a lot of HDD space).
With larger block size and larger blockchain, these issues can be resolved with the right technical approaches.
This is a technical issue, not a political one. Give developers their time and they'll find out how to solve this.
According to my calculations, a pure cryptocurrency-only system can't really exist.
What you would need is a parallel-currency system with a single decentralized cryptocurrency and single fiat currency.
So what you got is basically a free market competition among these two currencies.
The only significant issue with this kind of system is having a reliable exchange rate. Who is certified to set an honest exchange rate for fiat-crypto? Exchanges?
Massive consumption using money they don’t have.
^ useful idiot parroting the script.
> After thousands of years we are finally able to create and control our own currency to not to get raped by inflation.
After some centuries of theft via fiat 1.0 and its subsequent downward spiral, a new system of theft is being forged. It is more intrusive than the first and more destructive. It is a revolution of willful idiots aimed at further cementing power, control, authority into the hands of the few. Any real revolution always needs a mass of idiots to strengthen it. You are the mass of idiots.
> smart people will use it and get rich day by day.
Clearly, the dumbasses of the world are the ones who are rich today which is why there is so much social decay, degeneracy, and regression. A smart person would understand the futility of insane wealth w.r.t to happiness and spend the bulk of their money improving the world they live in. They wouldn't use it to manipulate people. They wouldn't use it to stupify the populous to make them better consumers. They wouldn't use it to solidify power into the hands of the few at the sacrifice of the many. They wouldn't behave as though they were god's gift to the earth. They wouldn't ignorantly flaunt wealth in exhibitions of lavish excess. They would be the change they want to see in the world. The 'rockstar' morons with wealth are anything but this. They are an economic and social cancer that lead to de-evolution of the human species... Such systems like this that reward idiots who lack intelligence and contribute nothing of value are the very thing that furthers this cause... clearly.
The only question is, what do the Cosmic hands of times have in store for this perpetual cycle of suffering and the hands that perpetuate it having crossed over from this plane of reality into the domain of the NEXT..
Fuck off Schlomo.
There's no state regulation that would allow for cryptocurrencies to gain liquidity, that's why it's full of speculators. Also, BTC isn't a good overall cryptocurrency.
Most of it is the fault of kikes like you. Now GTFO.
The inflation meme is kinda real, but you could theoretically design a cryptocurrency in a way for it to become inflationary. It is possible. We could also try to make it as stable as possible.
BTC for example is by design deflationary.
>increasingly nervous ponzi scheme victim in denial
Well tell me mr. LARPer how are you investing to make a better world?
No it would not happen like that. Most people are fucking retards and will spend that money 15 seconds after they get it in their hands to buy their cheeseburger or hdtv or $1000 jewphone or shiny new purse or nike air jordans.
You have to remember only a small percentage of people actually think more than 15 minutes into the future. Those people would save. Just like they do today. But the overwhelming majority of people will blow that cash immediately.
He doesn't control a single thing. The spot price is determined by opaque market mechanisms controlled by insiders and algorithms just like wallstreet 1.0. By the end of this year, it will be opened up to futures/options/derivative trading just like wallstreet was before they almost crashed the whole world's financial system. This time w/ zero regulation.
> But that idiot w/ 0.1 bicoins is in control apparently..
He's not. You get it swede.
Source sauce :
> bitmex.com
> deribit.com
> dw.com
> coindesk.com
> qz.com
And here morons are looking at candlestick charts trading on an exchange they have no understanding of thinking they are moving the market w/ their pocket crust.. The same morons who get eaten alive in equity markets :
(YOU)
I'm not ponzi scheme victim neither am I in denial, what are you trying to prove?
Truth is, one day everybody will use Dogecoin.
>If I gave you 1$ and told you I would match what you had left of it tomorrow, and I would continue to do this forever, would you not be hesistant to spend money? Wouldn't you skip meals? Maybe choose to be homeless
Jesus Christ you people are retards. Money is valuable as a medium of exchange TO GET WHAT YOU *ACTUALLY* want.
>It's open source and works on consensus.
But is it really, though?
Currently there is no fully open-source mining stack for ETH (most people use Windows as well as proprietary drivers (controlled by a duopoly of corporations) and proprietary mining software), BTC can't even be mined on conventional hardware. I mean, we're getting closer but we're not there yet.
So?
Why is Sup Forums so ignorant about the value of bitcoin?
People here actually think it's not used to buy goods LMAO
Any reading on earlier or failed implementations of this?
It's a ponzi scheme w/ a higher purpose and evolutionary track to serve multiple masters. Time scales are always uncertain. Don't believe anyone including myself if they tell you they can give you an accurate timeline. I can only note possibilities. One possibility that I have already mentioned, given that its in beta test is that banks will release their own versions w/ no conversion potential from existing coins and regulate them out of existence. I am not here to provide tradeable market intelligence which often needs time tables.
I asked some flakey question earlier dealing with supernatural ideas. Care to address them or is the train of though just distraction and folklore? How would you define (((them)))
Spot price mechanisms and exchanges are not open source or consensus base. The only thing that is open source and detailed in white papers is the transactional and operational specifics. For that matter, all of wallstreet is open source... The markets and exchanges aren't which is where the power/control are.
XMR has known exploitable vectors especially temporal analysis/other heuristics. The same shit they use to track you around the web and no, fudging routing doesn't resolve this. The sheer number of reinventions of these stupid ass coin methodologies w/ ever increasingly meme like names examples how unstable and uninspired they are. This literally smacks of dumb fuck web developers from the framework era hacking together this shit on weekends. If you think this crap is secure because its open source, you're even more brain dead than they are. See : cnbc.com
It's all the same shit you useful idiot and shill. Artificial scarcity of bits on a wire. ICO and then inflation based ponzi scheme takes off. Opaque markets/spot pricing, unstable price volatility, and insiders holding the dominate portion of the coins.. Selling off into buyside shilling when the time is right and then migrating to a new coin system to repeat the process again w/ a NEW IMPROVED SECURE MUHDICK-MR-XPR-XMR-JDM-crypto-quantum-ripple-superposition COIN.
> But underlying technology will first free us and second make us more rich.
Useful idiot.
So far with bitcoin you can buy some weed off the darknet. Or pay for pizza with outageous fee compared to a standard transaction. Yeah, but you paid with BITCOIN. You are hacker. The ongoing story that is being pushed at the moment is that bitcoin will cause collapse of the world economy and fall of socities causing mass havoc and simply reduce the planet to Mad Max movie. Who will have bitcoin he will be emperor. Similar story was being pushed with gold. However there are several logic holes with this line of thinking. First, most people don't have hundred of thousand of dollars laying around to throw at bitcoin. They have $1000 and when bitcoin rises 40% they chimp out on reddit they're next Scarface. I'm not sure if you can use leverage on trading bitcoin but google search say you can and there are massive price swings to the downside. Recently there have been a few. And then this happens people who have leveraged positions their accounts are reduced to zero. What is interesting is, when this happens there is 0 (zero) crying in the support groups and forums. Nobyody ever lost on bitcoin. A person who's account has been annihilated claims he made fuckton of money and "bought the dip" and is writing this from Maledives. This is normal and this is what happens in trading forums. Total value of bitcoin is about 0,1% of world's money supply and when it raises too much people who are in control of financial system will step in and put breaks on this.
You're more than welcome and I recommend it. The silence period will commence soon.
when it is fully adopted it will be the most stable currency in existence
It's nature guarantees that it will never be stable.
>Artificial scarcity of bits on a wire.
byzantine fault tolerance was considered unsolved until bitcoin established a network
nature? its being adopted right now, how can you know its "nature"
> Is this really all a result of a relgion taking paranoia too far or is the usual red pill a smoke screen for some other entity.
Coin systems are what they are as I have detailed them to be. Don't take my word or anyone's word for it though. Do your own research. Use your own mind and critically analyze the landscape and the history. You'll arrive at a conclusion as deep as the level you research it.
> Has technology alredy reached a level of conciousness and is our enemy?
Nope. Just lower men utilizing useful idiots at scale under obfuscated technological smoke screens. That being said, they may very well give birth to something beyond them but not in a manner they understand.
> Was it here all along and uses weak people to conjure it like Roko's basilisk
The path of the weak and compromised instead venture down paths and meet w/ the fate that lies at the end of that path. Their compromised minds and greed filled intentions blind them to the warning signs that flank each side of the road.
> What is at the head of the snake of these legends?
That which dawns the crown of each individual in their compromised state.
> Are we in a simulation?
A projection of sorts
> If not, why are these notions being implanted into normies heads by celbrity scientises?
Every system has its useful idiots and human nature is a mother fucker. Greed underlies a large amount of lies, destruction, and suffering. This is so because when captured by greed one's higher minded facilities are disabled and they are lent to lower minded thinking and manifestations.
> Whats CERN doing?
Low minded experts" are trying to annihilate particles to discover what lower level components comprise them and how they are structured. I say low minded as their fundamental theories/assumptions are wrong and their experiments are equivalent to brute force deduction thus why its so pricey, complicated, and has yielded such little results. A more correct theory resolves this.
>In madela effect real?
Time is a mutable construct but not in the traditional sense. The manifestation of universal structures are cyclical. The mandela effect is a combination of 'deja vu' in relation to recognition of a previous pattern and the cyclical nature of time.
> Do we as individuals control the reality that surrounds us on a literal level or are those notions more metaphorical?
It's both. Taken as a metaphor, you view reality as a construct/mutable object. At which point, you can literally mold an manipulate it.
>A more correct theory resolves this
Sauce pls? Do you speak of electric universe?
As the plan evolves they're strip out and replace the inefficient aspects. That's been the plan all along. They're using this inefficient process for now to vacuum up value into the various coin systems. Everything initially has a backing. The original fiat do. It was gold. Then they phase it out, it drifts from people's consciousness, and is replaced with faith instead. They'll do the same and have the same plan for bit coins. Proof of work is a way of tax/extracting "value" from energy/computer resources and "storing" it in coin systems. Once this creates enough of a price floor in the coin system, they drop it like gold was dropped from backing the dollar and move instead to "faith" and then begins the next leg of fiat 2.0. See the connection yet? There always is in reoccurring constructs.
Blockchain is the enslavement portion intertwined w/ the fiat 2.0 scheme. Have you forgotten what privacy is or are you just a fucking shill? Blockchain = a publicly accessible database of all transactions. That should never be public. It should be private, secure, and never shared beyond the parties transacting. Are you morons this dense or just shilling this hard?