... and I will become the new Banksters. Blockchain technology can free the ppl from the oppression of the central banks.
i hope
so, bitcoin has been with us for 5 years or so, and is already capitalized to over 6 billion usd. [http://coinmarketcap.com/]
it is an online ledger stored on users computers, that is very difficult to alter, created by open source programs (wallets)
the coolest thing is it's a program, again usually open source, so the code can be checked by anyone, and generally the details are announced publicly anyway, giving it's creators/users (co-owners) control over things like inflation and money supply.
so is this the opportunity the people of the world have been waiting for? a way for the average joe to connect to some real money instead of this fiat/monopoly crap they give us?
might be worth a try, imho!
I think there's something fishy with the Bitcoin economy.
They are 1s and 0s and nothing more. The most wierd thing is probably bitcoin mining.
I wouldn't be surprised at all if someone will prove this.
LOL. Have you looked into the inner workings of the American monetary system ?
You know, the one where money is printed with no backing and the banksters are allowed and encouraged to loan out money they do not have ?
That is much more than what is backing the US dollar.
US dollars are just the same 1's and 0's that are created out of thin air with nothing to back them up.
When BC came out it was about 5 cents a coin. I wish I had bought $100 worth of coins then and sold at the peak of $1135.00 or so. Do the math... 20 (per$) X 100 X $1135.
Well I missed that boat, but being a metals stacker has made me somewhat of a speculator. I recently bought one ounce each of Palladium and Platinum as pure speculation. I normally stick to Au and Ag, mostly Ag. Given my new found nature to speculate I am considering putting in about $500 to BC.
It cannot be as bad as Fed notes can it?
Currently BC are more volatile than Fed notes but only because it's in the interest of TBTP to keep Fed notes stable.
When the FBI raided Silk Road, BC dropped from about $1135 to ~$870 but almost completely rebounded in a few months. The same kind of drop happened when the MT. Gox exchange was hacked.
I had opened a Mt. Gox acct before the hack. I had to send them a scan of my ID to open an acct. I'm leary about any more BC exchanges as a result of that and the potential for ID theft. I keep a BC wallet on my phone hoping to earn some coinage annonymously rather than buy it, but a BC ATM would work.
I have a potato
you can have it for two carrots
or we can cook togther
I have a rifle. Thanks for the potato. I hope the smell of me cooking stew doesn't make your tummy rumble. :)
unless you killed me for a fucking potato instead of hunting something:
while you have a nice little nap after eating my delicious potato
I sneaked into your campsite and acquired a new rifle , a new bugoutbag and a dirty cooking pan.
don't play a player
:)
Doc
i think the fishy thing is tptb that (like on wall st) run the show from behind closed doors. if u watch the markets, you will see the action, it's easy to manipulate the price if u have cash
why? satoshi's idea to de-centralize minting is revolutionary. at the time of it's creation, all you needed was a CPU to mine bitcoin, so with some software and an online computer, the ability to create money was returned to the people. :-)
bitcoin is the ultimate fiat, in that physically it's only attribute is compu-discernable patterns on a magnetic substrate/flash/whatever. but it is backed by the electricity/comp time used in its creation and maintainance.
"miners" uphold the network by devoting their hashpower to processing transactions
[quote=groggin]
bitcoin is the ultimate fiat,/quote]
When noone's decree sets the value, "fiat" is maybe not the best analogy. If u meant valueless shyte backed by nothing, I concur. However, bitcoin is limited in number. Janet Yellen's printing press is not. Huge diff...
At the end of the day, would u rather have a finite amount of ones and zeros in your account that holds some "value" (lol) or an infinite supply of ones and zeros that negates the value of the preevious "money" issued?
mining bitcoin is hard to do now because of the extremly high "difficulty". you'll need to invest multiple tens of thousands of dollars to consider profitably mining it. but there are hundreds of alternative coins now, you can mine them with a regular graphics card on your computer, and you might make many coins every day.
you can also find some great deals online, check this google search (links to coin-markets)
https://www.google.com/?gws_rd=ssl#q=cryptocurrency+exchange
i had a similar experience @that place, and another since at another ex, as a miner i've had online accounts hacked and coins stolen, someone once chizeled into a virtual pc i had some wallets running on and took what they wanted.
maybe it's not for everyone, but investing in crypto takes money away from the centralbank/warmachine, gives it to the ppl