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Bitcoin and blockchain technology, a revolution happening right under everyones nose.

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posted on Aug, 24 2017 @ 08:36 PM
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a reply to: strongfp

cash in the bitcoins to canadian dollars and dump them on your lap?




posted on Aug, 24 2017 @ 08:44 PM
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Here is something useful with blockchain.

Just heard about it a couple hours ago.

Sounds good.



qz.com...

Sorry, no idea if this has been linked.


edit on 8 24 2017 by burgerbuddy because: (no reason given)



posted on Aug, 24 2017 @ 08:47 PM
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originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for?
And who will pay the iron workers to erect the building?
It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods?
Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.
edit on 24-8-2017 by strongfp because: (no reason given)



posted on Aug, 24 2017 @ 08:54 PM
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originally posted by: strongfp

originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for?
And who will pay the iron workers to erect the building?
It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods?
Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.


I hear ya.




posted on Aug, 24 2017 @ 09:11 PM
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originally posted by: strongfp

originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for?
And who will pay the iron workers to erect the building?
It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods?
Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.


The thing with your "physical good" is no different then cryptocurrencies, if your "physical goods" belly up all youll have is a bunch of toilet paper, reusable toilet paper actually, it can be washed

Anyway, the point is your "physical goods" can become as worthless just as fast as digital currency can be deleted. If your that worried about it, invest all of your money into metals, gold, silver, nickel, etc. Cant go wrong there.



posted on Aug, 24 2017 @ 09:17 PM
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originally posted by: strongfp

originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for?
And who will pay the iron workers to erect the building?
It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods?
Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.


I get it, too- but you have to pay attention to your cold, hard cash. The US dollar is a failing Fiat currency. My biggest investment is pail in comparison to my USD holdings, but the dollar is junk. It will crash, it's mathematically impossible to keep going forever. The longer it goes, the more the average person using it gets ducked.

I understand your position here- but cash in hand is only as good as what other people value that cash as. If ten thousand dollars in paper cash won't buy your family a meal, but ten silver dimes would, what's worth more?

Blockchain is digital gold. Until the power grid fails, this is the future.



posted on Aug, 24 2017 @ 10:14 PM
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Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for? And who will pay the iron workers to erect the building? It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods? Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.
a reply to: strongfp

I get it man - sure you want something to hold in your hand...but do they really "pay you in cash"?
I doubt it - I'm guess you're check is electronically deposited just most of the other people out there.

It's just a different type of currency
The concept is a technologically secure and traceable finite amount of currency all tied to a digital ledger that validates it.

Once they figure out how to make it more user friendly, less technical for the average person & speed up transactions the sky will be the limit.

Fiat is dying...it's a message that's been telegraphed to us for for years.

Electronic currency, even if it's not blockchain tech, is the future...

Cash is on it's way out - most likely in the next 20 years or less.

ETA:
Just for the record, I'm a huge advocate of cash, not happy about this at all, it's just the inevitable future of our technological society short of a EMP wiping out all our computers.
edit on 24-8-2017 by coldkidc because: (no reason given)



posted on Aug, 24 2017 @ 10:20 PM
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I got into BTC, albeit not early enough, but earlier, when I didn't even have to mine to make coin. Luckly saved a lot of what was made. Now it is sitting there, growing. Not bad, could have been better.


originally posted by: strongfp

originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Right. So, how will the person who wants the skyscraper built, or rather, multiple people, get their bitcoin to pay the company I work for?
And who will pay the iron workers to erect the building?
It seems like bitcoin is just a fancy form of electronic currency, what makes it more 'valuable' to me and others who work with their hands to create material goods?
Honestly, from my point of view, if I can't hold cash in my hand, then it's worthless. at least current money can be translated into a physical good for me to trade for a livelihood.

Can hold it in your hand with cold storage, thumb drive, sd card, etc.



posted on Aug, 24 2017 @ 10:24 PM
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a reply to: stormcell

To make Bitcoin mining worthwhile you'd have to set up 4 computers running 24/7. Even then your power bill would far exceed any bits mined



posted on Aug, 24 2017 @ 10:29 PM
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Its truth platforms......Jamaica stock exchange just signed with Veri.....Veritaseum, so yes, what this means is did you buy Silver yet, in your posession

editby]edit on 24-8-2017 by GBP/JPY because: (no reason given)

edit on 24-8-2017 by GBP/JPY because: (no reason given)

edit on 24-8-2017 by GBP/JPY because: (no reason given)

edit on 24-8-2017 by GBP/JPY because: (no reason given)



posted on Aug, 24 2017 @ 10:56 PM
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originally posted by: Bwomp83

originally posted by: strongfp
a reply to: NobodiesNormal

How are you going to pay me bitcoin for welding structural beams for a skyscraper?


Electronically like "almost" every other transaction done these days. It'll be on your debit card. Youll get .000000789 bitcoins thank you


Let's hope that someone always pays the electric bill in real money. Otherwise, you're all in trouble.

The excited talk here is exactly what I've heard many time about multi-level schemes and other get rich-quick scams.



posted on Aug, 24 2017 @ 11:07 PM
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Ive been in the crypto game since 2012. I mined litecoins on a pos toshiba laptop back then. I realized even then bitcoin and blockchain will change the world, but I was just a teenager with no investment power.

Since then? Ive done alright trading alts. My problem has been looking too short term. If i went longer term, id be a millionaire in crypto fiat value. Last year this month, 300$ invested into an alt called Stratis would be worth 300,000$ today. At its peak? Almost a million dollars. Yeah i had that investment. Sold most at about 10x instead of at 1000x.


Thats crypto day trading for ya. More recently, ive day traded a single alt from 1k value to 12k value. Im not selling, just accumulating. Its still got a 10x left in here at least.

Ive said it a dozen times on this site. Fiat will be a cryptocurrency. Everywhere. A decade or two at most. It wont be bitcoin, it will be state mined and issued still but bitcoin will remain and continue to grow in value. There will only ever be 21mil. Soon enough prices will be referenced by a satoshis not a full bitcoin.

I wont be sharing my low market cap picks, sorry
i dont know whos lurking here afterall. Lol. But I will drop a few.

Cannabis and crypto + blockchain? Invest in Metal. Metalpay is their site.

Credit and crypto? Salt. Public sale has ended i believe but buy it under 10$ at market once it launches if you get lucky.

Ethereum obviously.

Dont try and day trade if you are new to the crypto market. You will get slaughtered by whales. The volatility makes the stock market look like childs play. But theres the beauty in it. The overall marketcap is miniscule in comparison. Which means the small fish have time to eat as well but act sooner than later. Bitcoin is in a correction currently. It wont last past Septembers end.

Blockchain tech will provide decentralised everything. Literally anything. The governments and corporations will get their stake in the pie but tech minded folks MUST continue supporting bitcoin and the thousands of alt developers. Open source people! It is where the real magic is happening before being copied by the state.


Blockchain is love. Blockchain is life. Satoshi will be heralded in due time.




posted on Aug, 25 2017 @ 12:07 AM
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Adding more advice, insight, and opinions now - my bloody phone died halfway through an edit and lost everything.

I can understand the arguments and naysayers to blockchain and bitcoin. Most of the arguments are valid however I will offer some counters.

Bitcoin and cryptocurrency is just a ponzi scheme?

It certainly can and will appear that way those with this valid cautious mindset. Will the top of the pyramid come out with more value? Of course. Is there still time and room for anyone to profit? In my opinion, definitely. Put it this way, the entire cryptocurrency market cap is about 150 billion $ currently. Bitcoin has about a 75 billions $ market cap.

The American investment firm Fidelity alone has over 5 trillion $ in holdings. Look at these numbers. Every single bitcoin held by whales and minnows alike could sell at market value right now. Fidelity - a single investment firm - could then buy every single bitcoin in existence at market value without blinking an eye. This same Fidelity now allows their investors to see Bitcoin charts on their site portal as of a month or so ago. This is big. It means they are interested. A single person could buy up the whole market and then who would be laughing? Them as they turned around and didnt sell for below 10x lol.

Does blockchain tech and bitcoin have its drawbacks?

Of course. However true anonymity already exists in various alts and these drawbacks are being improved by devs every single day - all open sourced. A future state issued blockchain currency will definitely make it easier for TPTB to track your ever spending habit but it is what it is. This same fact is also what will keep bitcoin and other alts relevant. If the average persons transactions can be tracked on a ledger, that means THEIR transactions can also be tracked on the ledger as well. They will still need somewhere to conduct their under the table corruption transactions as well.

Could it end up being a 'mark of the beast' so to speak?

Assuredly. That is why you take the time to exchange their state centralized crypto for decentralized ones. You can already buy just about anything physical with Bitcoin alone - especially in Europe. Keep an eye on Ripple (XRP) for being first adopted by a state as legal currency as it has a huge yet still finite amount and is centralized.

Enter bitcoin now?

It is currently in a correction, so now is a good time to enter as any imo. This correction will not last longer than the end of September when a scaling/segwit issue is worked out by the bitcoin foundation. Just keep emotion out of your trading - buy low sell high - like anything never invest what you cannot afford to lose. If you already have bitcoin and are getting antsy to sell, I would recommend getting your initial investment out and keeping the rest to hodl. At least for a few more years. The current trend in the crypto market is the whales being big on third wave pymps. That means a rise in price over three periods. The first being some years ago to 1250$, the second being to nearly 5000$, and the third still to come.
Personally I will attempt to swing but continue holding my other than initial investment monies long long term.

For the gamblers?

Find an 'ICO' with an already function project/product and not just a whitepaper. Invest during ICO earliest phase as you can. Day trade on the pump once it launches on exchanges - always taking out your initial fiat investment and keeping the rest in play. Be warned - most ICO's are not accepting US residents these days. You can blame the US federal government for that. KYC laws are now being enforced by the SEC on new alts - anything that can be considered as earning 'dividends.'

The golden period is already over and the silver period for these investments will probably end in a few more years for everyone as well.

Cash is better?

False. Anything is worth only what people are willing to pay/exchange. Bees could be currency. However - crypto is actually finite and cannot be forged.

Final note - download Slack - its an app for group chats, join the Cryptocopia channel. Ask questions. Learn. Always people there rich and not alike sharing good advice on investments and discussing crypto in general. Any altcoin you buy - always join their slack for firsthand info. Never listen to fud. Never believe anything or click any links in an exchange trollbox or from slack. Hackers are everywhere in the crypto scene - naturally.




Just my 2 cents.

edit on 25-8-2017 by lightedhype because: (no reason given)



posted on Aug, 25 2017 @ 12:52 AM
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Cryptocurrencies will take over the world. The bailouts created trillions of dollars out of thin air so hyperinflation is unavoidable. With bit coin it is impossible to create more bit coins. There is 24,000,000 bit coins available until the year 2140.

Value in bit coins comes from energy being used to complete the transactions. Meaning, it is a currency based off of energy output. How I understand it anyway.

It is also decentralized.

It is like the hand of God reaching down at the perfect time to save us from the Satanic centralized banking system.

There are about 35 million millionaires in the world and 24 million bit coins. Not everyone is going to be able to own a bit coin.



posted on Aug, 25 2017 @ 01:08 AM
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a reply to: Kalixi


To make Bitcoin mining worthwhile you'd have to set up 4 computers running 24/7. Even then your power bill would far exceed any bits mined

Unless you live in a cold climate and use the heat of your computer farm to heat your house. Any Bitcoins mined then come for free, if depreciation of computer equipment and maintenance are excluded.

Basically at the level of present computing power required to mine Bitcoins, your advice is correct in practice.



posted on Aug, 25 2017 @ 01:28 AM
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I'm curious how using Bitcoin would compare with the paper fiat method in the case of a long term cataclysm kind of event were internet is severely cripled and no longer accessible everywhere, and most computer system have been zapped. Where electricity and communication are nearly inexistant for ordinary peoples. And would require many years to get to normal again.



posted on Aug, 25 2017 @ 04:01 AM
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a reply to: booyakasha

Cryptocurrencies are created out of thin air and unlike real currencies there is no mechanism for removing them again.

The value of bitcoin does not come from the energy used to mine them . That energy is used and gone. (Bitcoin mining is inherently economically wastefull as creates nothing of real value).

Bitcoin isn't even a particularly good payment system due to the verification delays.



posted on Aug, 25 2017 @ 04:03 AM
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originally posted by: Cofactor
I'm curious how using Bitcoin would compare with the paper fiat method in the case of a long term cataclysm kind of event were internet is severely cripled and no longer accessible everywhere, and most computer system have been zapped. Where electricity and communication are nearly inexistant for ordinary peoples. And would require many years to get to normal again.


Both national currencies and crypto are almost entirely dependent on computers. Paper money makes up only a tiny percentage of money in circulation.



posted on Aug, 25 2017 @ 04:23 AM
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originally posted by: ScepticScot
a reply to: booyakasha

Cryptocurrencies are created out of thin air and unlike real currencies there is no mechanism for removing them again.

The value of bitcoin does not come from the energy used to mine them . That energy is used and gone. (Bitcoin mining is inherently economically wastefull as creates nothing of real value).

Bitcoin isn't even a particularly good payment system due to the verification delays.



there are other coins, digix.global... for example this coin is tied directly to a share of real gold, physical gold held in storage, presence accounted for by third party audits, each coin represents 1 gram of gold.
theres actually a handful of coins that have in some way tied their value to heavy metals like gold / silver, these currencies have more intrinsic value then any fiat currency,

also bitcoins verification delays have been rectified by the lightning network that is being added to its chain.
and mining isnt wasteful as it does create real value, it is lifting people out of poverty, it is establishing a new decentralized system free of corruption, if you value the progress of our society at all, then that is real value.



posted on Aug, 25 2017 @ 05:03 AM
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How will my grandma get bitcoin for paying for groceries?

This actually is a pyramid scheme, to me it has many flaws and loopholes that only benefit rich people or people who know how to invest will benefit. Try telling your mechanic or plumber "yea hold on let me just transfer over some bitcoin to you"
People still don't understand that a lot of the workforce doesn't just 'get paid' for their time, they get paid for their skills and labor, don't have time to invest or mine up random currency.



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