Bitcoin

Death or taxes will get everything in the end!

 

Still trying to get my head all the way around Blockchain - Wikipedia.

Seems to be very inefficient use of energy, to say the least, with one estimate being about 250 kWh per transaction (transaction or bitcoin- transaction???) which is enough to run my house for well over a week.

Will this be the HMMWV of currency?
Perhaps a new thread in the eco-chic section???

 

Once all the bitcoin are generated (this will happen?), then the energy consumption falls off? Until someone comes up with a new "coin"??

To quote Rolling Stones lyrics (Salt of the Earth): they don't look real to me.

 

I think the basic scalability problem of bitcoin will be its undoing. Also, after all the coins are mined the fees will skyrocket and they are already about $30/transaction (regardless of amount being transacted). It's easy to see that the dream of paying for your groceries in the supermarket with bitcoin is just that, a dream.

 

Lookup the Lightning Network. BTC transactions instantly, securely, and cheaply.

 

Don't get too excited about bitcoin or any other crypto currency. The morally corrupt and criminally insane people that are the Federal Reserve Bank have been steadily pushing the people into the cashless society where all transactions are recorded and privacy is only a dream of the past. Bitcoin is a dream come true for them. Don't think for a moment that your rulers won't have access to your every monetary detail. It's in the blockchain! Repeatedly! Once everyone has fully embraced this intangible "money", and cash is gone, they will close the net and the whole school of us little fish is theirs. Do not give up your privacy! There are many things wrong with Federal Reserve Notes besides the fact that they are not backed by anything other than a misplaced faith from the sheeple. Chief among these things is that about 97% of them only exist as data in computers. That's right, only about 3% is even printed or coined. Fixing Federal Reserve corruption is not an option and neither is replacing it with a trojan horse like bitcoin. I strongly suspect that Satoshi Nakamoto is a fictitious asset of the Federal Reserve cartel and bitcoin is bait. Baitcoin! Don't believe me? Bitcoin taxes are now a reality! It will give you a real close marriage to the IRS. Good luck to all you who play with it. I hope you get to trade it off for something of intrinsic value before it goes away. Remember Gold and silver? It is real. It has mass. Its very conductive. It is extremely useful. Quantities are limited. It can be handed from one man to another, without a record. Sounds good to me.

 

that's the next generation. they don't care about privacy. that horse has left the barn.

 

Don't worry, Google can track that horse from space and give suggestions based on it.

 

I rather suspect that most Governments around the world dream of holding the information that Google, Amazon, Twitter and Facebook et al garner with precious little effort.

 

The "United States" is a corporation, Google is a corporation, the "Federal Reserve Bank" is a corporation. They are all related and interrelate with each other. The majority stock holder of any corporation that the US deems useful will be the US itself either through fronts or directly. Microsoft is a case in point. This is what led former "Economic Hitman" John Perkins to coin the phrase "corporatocracy", which is the best term I've heard to describe the system we find ourselves in. It is fascism at its core. This leads one to ask when did the US become incorporated? Was it in 1776? No it was in 1871, and it wasn't for the benefit of us people of America. Corporations control your environment, education, food supply, water, health care, drugs both (legal and illegal), law enforcement, energy.....well basically everything. The only thing George Orwell got wrong was the date.

So, yes, when government wants your crypto currency records you will be hiding nothing and they will take from you what they want. They have hoarded the lions share of gold and silver to prevent us from using it as money, basically leaving us with nothing of intrinsic value to use as a medium of exchange except for the worthless fiat currencies they produce and devalue through overproduction. We've been had.

 

Wow...
I thought that the last of the gold standard people died off years ago, and the idea that our government is a 'corporation' or that we're anything close to 'fascism' points to a complete lack of understanding of those concepts.

You need to get a hall pass to the political sub-forum.
Just start walking around the forum until you hear something that sounds like six toddlers fighting over five toys.

You might have to ask somebody to sponsor you, but it does not sound like you will have any problem getting in.

Good Luck!

 

Not sure what you're looking at but it has been up around $8k today. As of right now, $7740. Up 2.4% over 24hr window.