Bitcoin and Crypto

[mike]

Bitcoin isn't the one to gamble your savings on. They'll only produce a finite number and then that's it. You needed to get onto it 5 years ago.

Pretty much a electronic pyramid scheme long term.

I'm interested in why you think that.

You only make money based on people who enter after you. This is a typical Pyramid Scheme fingerprint.

Apart from the above (Pyramid Scheme) Bitcoin is based on Blockchain, the first if memory serves. The biggest weakness of Blockchain is scalability. It just doesn’t scale well. The amount of compute and network resources needed to update gets to a point of diminishing returns. That is the cost to update the Blockchain exceeds its value. We are fast approaching that tipping point. Unless there is some underlying discovery that can dramatically increase the compute power of the planet Bitcoin will eventually run out of steam.

We are already down to just a few atoms on a silicon wafer per transistor, so there isn’t much more room to increase the compute power per watt of power needed using existing von Neumann architecture computers. In the end Blockchain updates will simply cost more than it is worth or worse never get a chance to complete. The only savour on the horizon for Blockchain and therefore Bitcoin that I can see is Quantum Computing but that is still a few years off, possibly decades, before it will be commercially viable as we are still in the discovery and research phase. Will we reach the Bitcoin cost tipping point before then? I don’t think anyone is game to predict.

 

[Guest]

Criminal cartels...slaves? What planet do you live on? Would it come as any surprise that we know who you are?

 

[CocaCola]

Getting into Bitcoin now is just as much speculation as trading FX or stocks, unless you are actually mining coins. It's just the new trend that will probably be overshadowed by something else in 10 years.

 

[Geo]

Criminal cartels...slaves? What planet do you live on? Would it come as any surprise that we know who you are?

Ozark..

 

[mike]

What do the conspiracy theorists actually think the government is going to do to you if you download the app?

My concern isn't really with the app, why should our government be storing data that they collect on us on server in another country that can not be protected by our legal system? This is not just the data from this app, this would be the data on things like mygov etc.

Then take the privacy issue out of it for a moment, at this point in time while our economy is falling, why would we send a contract like this overseas instead of supporting our own businesses?

If you're relying on any "legal system" to protect your data, it's too late by that time the damage is done.
Any centralised method of storage is vulnerable to attack no matter what piece of ground it sits on.

That's why we need a decentralized internet where everyone OWNS their own identity and any data, they control it and decide who sees it, they also can track who has seen it on the blockchain in real time.

We need to take the power back!!!!!
And Cryptocurrency and Blockchain technology is building this infastructure right now.

This is the future of the internet, and you can invest and participate in building it.
Buy and use Cryptocurrency, it's never been easier.
Free yourself from these criminal cartels known as banks, be your own bank, own your own data and anything you create online.
Or continue being slaves to THEIR system.

In reality you are not taking anything back. All you are doing is moving from one Overlord, which you have some control over (not much mind you) to another Overlord that you have absolutely no control over.

 

[Hangonaminute]

Bitcoin isn't the one to gamble your savings on. They'll only produce a finite number and then that's it. You needed to get onto it 5 years ago.

Just another form of control...?

Who controls it?

Three people actually.

How do you know this?
Who are they?
How do they control it?

 

[Hangonaminute]

Bitcoin isn't the one to gamble your savings on. They'll only produce a finite number and then that's it. You needed to get onto it 5 years ago.

Pretty much a electronic pyramid scheme long term.

I'm interested in why you think that.

You only make money based on people who enter after you. This is a typical Pyramid Scheme fingerprint.

Apart from the above (Pyramid Scheme) Bitcoin is based on Blockchain, the first if memory serves. The biggest weakness of Blockchain is scalability. It just doesn’t scale well. The amount of compute and network resources needed to update gets to a point of diminishing returns. That is the cost to update the Blockchain exceeds its value. We are fast approaching that tipping point. Unless there is some underlying discovery that can dramatically increase the compute power of the planet Bitcoin will eventually run out of steam.

We are already down to just a few atoms on a silicon wafer per transistor, so there isn’t much more room to increase the compute power per watt of power needed using existing von Neumann architecture computers. In the end Blockchain updates will simply cost more than it is worth or worse never get a chance to complete. The only savour on the horizon for Blockchain and therefore Bitcoin that I can see is Quantum Computing but that is still a few years off, possibly decades, before it will be commercially viable as we are still in the discovery and research phase. Will we reach the Bitcoin cost tipping point before then? I don’t think anyone is game to predict.

If you're in the space just to try to make more fiat currency then I can see why you might think it's a Pyramid scheme even though I don't think it's fits that description.

Any type of trading would fit your description, because you only make money trading if you sell something for more than you bought it for.
So is the whole retail industry a pyramid scheme too?

It's seems you've looked into it which is more than what most probably have, there's more than just blockchain so you might want to look into it a bit more.
Yes the technology has some hurdles to overcome still, it's a work in progress but it's also got some of the smartest people on the planet working on it, I don't think the problems you raised are as big as you think but I won't get into that.

All I'll say is, keep an interest in it because one day whether you know it or not you'll be using it in some capacity.

 

[Hangonaminute]

Getting into Bitcoin now is just as much speculation as trading FX or stocks, unless you are actually mining coins. It's just the new trend that will probably be overshadowed by something else in 10 years.

I don't think it's going anywhere it's proven itself, imo the risk is not owning any Bitcoin or other Crypto at all.

It's changed my life in ways I never thought possible, I could have worked a 9 to 5 job for 20 lifetimes and not had the opportunity I now have because of it.
The most important thing it's given me is, freedom from association.

I now get to choose who I spend my time with, this life is short, I want to spend it with the people I want.
Working a 9 to 5 job doesn't allow that, spending most of your day with people who really don't give a rat's about you (but have to act like they do) isn't my idea of living.

 

[Hangonaminute]

I have a little. I wish I had more. Not sure what will happen with the halving. Heard conflicting opinions. I hope some of the better cryptos will become more widely accepted and used as they are potentially a secure store of value.
I have grave fears about any digital currency coming from the Government or central banks.

I know what you mean about Digital currencies created by banks but I think people are starting to understand the flaws in the fiat system and would be crazy to just step into another centralised system with the same inherent flaws.

It's really just up to us, the way to take control back is simply not use their currency, that's the beauty of Crypto it gives us ownership and puts us in control.

If anyone understands the way fiat currency works and the federal reserve banking cartel and how they've been stealing our wealth since the day it was created, nobody would use their filthy money again, sadly most people are too lazy or just blissfully ignorant to find out.

The criminals (bankers) also use language to baffle the general public such as "quantitive easing" once average Joe hears a banker or finance guy use language like that they just switch off and don't even bother finding out what it means.

Ask the average person this question.
Where does money come from?

And I bet you 95% of people don't know, (I've been doing this for a few years now)

It blows my mind that people use this currency every day, they work their asses off for it, they'll make themselves sick for it and because of it yet they don't know where it comes from,
and what's worse is, they don't realise how their wealth is being separated from them systematically.

If you're interested there now a Crypto Visa debit card available that can be used just like your current bank card, it also allows you to "stake" coins and receive 2% or 3% (or more) cashback immediately paid in MCO (Monaco) and depending on how much you stake you can also get free Spotify and Netflix subscriptions, also zero fees.

Check it out at crypto.com

I would be very interested to know more about this. Once crypto becomes easier to use, the take up will sky rocket.
Who issues this visa card?
Have you looked at Monero? A truly private coin that I think will also do very well.

Go to crypto.com I think you'll be required to download the app and then you can sign up for the card.
The process is super simple, you have to identify yourself which is the easiest and quickest identification process I've ever experienced, and works flawlessly.
Its a simple email confirmation, then you scan your licence and take a photo of yourself (both take 1 min the software is amazing)

In 2 to 3 days they'll get back to you and your ID will be verified, then they'll mail you out a card (which is metal) depending on how much MCO you stake depends what colour you'll get and what percentage returns you'll get back with every purchase and whether you'll get free Spotify or free Spotify and Netflix (other levels also get you into private airport lounges)

Also on the 12th of next month, as a Bitcoin halvening promo they are also offering Bitcoin at 50% off.
I'm not sure about all the details but you purchase it off their exchange which is found in the app and all the details are there too.

Yes I own some Monaco, I think people will always be interested in privacy coins especially when it seems pretty obvious that our privacy is being erroded every day.

Not financial advise just what I plan to do, when Bitcoin breaks 10.5k US and prints a weekly candle above it I'll be accumulating, this will be the last indicator for the trend change which will begin an uptrend for the next 2 years or so.

Watch this space.

 

[Hangonaminute]

Criminal cartels...slaves? What planet do you live on? Would it come as any surprise that we know who you are?

Are you not aware of how the federal reserve bank was formed?
They're a private banking cartel.

Are you not aware that the 4 major banks in Australia have all been caught money laundering?
The Westpac bank alone breached money laundering laws on 23 MILLION!!!! occasions.

I suggest you go learn about the federal reserve bank, go read "The creature from Jeckyl Island"

 

[Hangonaminute]

What do the conspiracy theorists actually think the government is going to do to you if you download the app?

My concern isn't really with the app, why should our government be storing data that they collect on us on server in another country that can not be protected by our legal system? This is not just the data from this app, this would be the data on things like mygov etc.

Then take the privacy issue out of it for a moment, at this point in time while our economy is falling, why would we send a contract like this overseas instead of supporting our own businesses?

If you're relying on any "legal system" to protect your data, it's too late by that time the damage is done.
Any centralised method of storage is vulnerable to attack no matter what piece of ground it sits on.

That's why we need a decentralized internet where everyone OWNS their own identity and any data, they control it and decide who sees it, they also can track who has seen it on the blockchain in real time.

We need to take the power back!!!!!
And Cryptocurrency and Blockchain technology is building this infastructure right now.

This is the future of the internet, and you can invest and participate in building it.
Buy and use Cryptocurrency, it's never been easier.
Free yourself from these criminal cartels known as banks, be your own bank, own your own data and anything you create online.
Or continue being slaves to THEIR system.

In reality you are not taking anything back. All you are doing is moving from one Overlord, which you have some control over (not much mind you) to another Overlord that you have absolutely no control over.

What overlord will we be moving to?

Do you understand how decentralized systems work?

I find that people who don't understand all this like to make comments that demonstrate that they don't understand it.

Maybe asking questions would be a better way.

 

[Hangonaminute]

Criminal cartels...slaves? What planet do you live on? Would it come as any surprise that we know who you are?

If you print money out of thin air for the purpose of earning interest off it (which is what the federal reserve do)
then have people work for that money to pay back that interest and on top of that tax them on that money that they earned that you created out of thin air.

Can you see the scam here?
Can you see that you're a debt slave?
Can you see that all the wealth flows back to who created the money (from nothing)

It's time you opened your eyes and saw the greatest scam ever.

 

[mike]

What do the conspiracy theorists actually think the government is going to do to you if you download the app?

My concern isn't really with the app, why should our government be storing data that they collect on us on server in another country that can not be protected by our legal system? This is not just the data from this app, this would be the data on things like mygov etc.

Then take the privacy issue out of it for a moment, at this point in time while our economy is falling, why would we send a contract like this overseas instead of supporting our own businesses?

If you're relying on any "legal system" to protect your data, it's too late by that time the damage is done.
Any centralised method of storage is vulnerable to attack no matter what piece of ground it sits on.

That's why we need a decentralized internet where everyone OWNS their own identity and any data, they control it and decide who sees it, they also can track who has seen it on the blockchain in real time.

We need to take the power back!!!!!
And Cryptocurrency and Blockchain technology is building this infastructure right now.

This is the future of the internet, and you can invest and participate in building it.
Buy and use Cryptocurrency, it's never been easier.
Free yourself from these criminal cartels known as banks, be your own bank, own your own data and anything you create online.
Or continue being slaves to THEIR system.

In reality you are not taking anything back. All you are doing is moving from one Overlord, which you have some control over (not much mind you) to another Overlord that you have absolutely no control over.

What overlord will we be moving to?

Do you understand how decentralized systems work?

I find that people who don't understand all this like to make comments that demonstrate that they don't understand it.

Maybe asking questions would be a better way.

Do some real investigation. Look at the 2017 Bitcoin price crash and how it recovered. Then look at who in 2018 benefited the most and made an absolute motza and you will discover who your new Overlords really are. The decentralisation is an illusion it’s just a distributed system, your new Overlords control it.

 

[Tiger5150]

What do the conspiracy theorists actually think the government is going to do to you if you download the app?

My concern isn't really with the app, why should our government be storing data that they collect on us on server in another country that can not be protected by our legal system? This is not just the data from this app, this would be the data on things like mygov etc.

Then take the privacy issue out of it for a moment, at this point in time while our economy is falling, why would we send a contract like this overseas instead of supporting our own businesses?

If you're relying on any "legal system" to protect your data, it's too late by that time the damage is done.
Any centralised method of storage is vulnerable to attack no matter what piece of ground it sits on.

That's why we need a decentralized internet where everyone OWNS their own identity and any data, they control it and decide who sees it, they also can track who has seen it on the blockchain in real time.

We need to take the power back!!!!!
And Cryptocurrency and Blockchain technology is building this infastructure right now.

This is the future of the internet, and you can invest and participate in building it.
Buy and use Cryptocurrency, it's never been easier.
Free yourself from these criminal cartels known as banks, be your own bank, own your own data and anything you create online.
Or continue being slaves to THEIR system.

In reality you are not taking anything back. All you are doing is moving from one Overlord, which you have some control over (not much mind you) to another Overlord that you have absolutely no control over.

What overlord will we be moving to?

Do you understand how decentralized systems work?

I find that people who don't understand all this like to make comments that demonstrate that they don't understand it.

Maybe asking questions would be a better way.

Do some real investigation. Look at the 2017 Bitcoin price crash and how it recovered. Then look at who in 2018 benefited the most and made an absolute motza and you will discover who your new Overlords really are. The decentralisation is an illusion it’s just a distributed system, your new Overlords control it.

Exactly right.....in a totally unregulated system. Crypto has previously been and always will be corrupted criminally and artificially but when it happens you have no recourse. It is a feature, not a bug. Google Vitalik Buterin, he wasnt responsible but he knows where the bodies are buried.

 

[Geo]

Seems an interesting topic... but what I want to know is

How much is a Pie and Sauce in Bitcoin..?

 

[TheDaBoss]

A boy is asking his bitcoin investing dad for $10.00 worth in Bitcoin currency

His dad replied

Dad: $9.67 ? What do you need $10.32 for

 

[Guest]

Bitcoin isn't the one to gamble your savings on. They'll only produce a finite number and then that's it. You needed to get onto it 5 years ago.

Just another form of control...?

Who controls it?

Three people actually.

How do you know this?
Who are they?
How do they control it?

I'm not at liberty to discuss any of that on here.

 

[Guest]

Criminal cartels...slaves? What planet do you live on? Would it come as any surprise that we know who you are?

Are you not aware of how the federal reserve bank was formed?
They're a private banking cartel.

Are you not aware that the 4 major banks in Australia have all been caught money laundering?
The Westpac bank alone breached money laundering laws on 23 MILLION!!!! occasions.

I suggest you go learn about the federal reserve bank, go read "The creature from Jeckyl Island"

I'm more informed about this than you. You simply have a different view of the world.

 

[cochise]

Bitcoin isn't the one to gamble your savings on. They'll only produce a finite number and then that's it. You needed to get onto it 5 years ago.

Just another form of control...?

Who controls it?

Three people actually.

How do you know this?
Who are they?
How do they control it?

I'm not at liberty to discuss any of that on here.

Hey mate, generally interested in your view. Is bitcoin something you would advice against?

 

[happy_tiger]

Seems an interesting topic... but what I want to know is

How much is a Pie and Sauce in Bitcoin..?

One bitcoin one pie ...one bitcoin one sauce

Hobbo and I will help you

Happy and Hobbo's Screw it up Quick Accounting Services

Not to be confused with Birdie and Wheels Screw it up Quick Gardening Services ...we would show up in Fancy Dress to fill your gardening needs