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

originally posted by: Aliensun

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.

If this were a scam i dont think other world governments would accept it, world markets, strip clubs. My retire plan just opened up shares to buy, fidelity would not do this if it were a scam. We just happen to be in a new era of currency. Tbh, americans are probably lucky. If the greenback fails there will be cryptocurrencies to fall on, hopefully when that does happen cryptocurrencies are more world wide accepted and it keeps us from going through a great depression.

take note of the two video links I cited in this recent post on another thread...

China, designated by the IMF, BIS & the (twice removed) Cartel of Globalists who run Nations, Blocs of Nations & provide the forward vision for global trends: Crypto Coins, Block-chains, ID2020, ACC (a cashless global community)...
well, China is ordained to produce the groundwork & digital infrastructure to create the ultimate 'crypto-coin' Block-Chain of collectivized assets.... with the cutting edge Super-computers China has covertly managed to Monopolize by powering banks of 'quantum'-computer-cousins built next to the glut of hydro-power plants that China had quietly built in more than a score of Years - in plain sight of the West !

pay attention to ACC (Assets Collection Chain)...


here's my previous post (which has a dystopian flavor to it)...read it & be very afraid:

...THIS CRYPO CURRENCY WILL BE ROLLED OUT DURING year 2018

www.youtube.com...
heres a video (34:46 minutes) which breaks the NEWS of the blockchain (DNA sequence) to create digitalized money/coin that uses both Invested Assets and Appropriated Assets (that was seized by each sovereign Nation) which forms the backbone of the hard-assets which give the digital monies/coins a real value
The IMF/BIS supported digital money will collectivise various assets & resources which each sovereign nation will confiscate from the citizen owners (and they will receive digital money for the strategic value of the commodity seized & digitized)
this ACC Chain...(Assets Collection Chain).. will force(among other assets) all physical Gold & Silver hoarders to relinquish their PMs..................to their 'home' country................
see: www.youtube.com...
and the physical PMs which excaped 'collection' by homeland governments will only exist in the digital DNA form (as a component of the block-chain sequence) Thus making the bars/coins held earlier by that physical PM hoarder a Criminal, if ever caught trying to sell off those physical bars/coins of Gold or Silver (which the sovereign government already seized and woven into the Asset value of the Crypto Coin DNA-Block-chain sequence)
How do You , get to use & enjoy this new block-chain, Crypto Currency ? ?
Well--- just line up for a visible holograph tattoo on your hand or forehead...
the 3 levels of participation which identifies each person will be identifiable as: a Mark or Number or Name which attests to Your allegiance to the System and have legal drawing rights of that amount of Crypto Currency Credits you once held in Stocks/bonds/USDs/real estate/inheritance/promissory notes/Annuities & royalties on resources released under contract...

both videos are longer than 30 minutes but less than 43 minutes... invest some time to get informed enough to 'see' the obvious outcomes come about









ADD....www.youtube.com...

originally posted by: NobodiesNormal

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.

The link is quite interesting but I am not convinced it offers a major advantage over any of the other multitude of ways to invest in gold.

Actions have been taken to improve verification time but the verification process is inherent in the system. Delays may not matter for some types of payment but could well restrict it's wider adoption.

The mining process is incredibly wastefull as it is using vast amounts of energy and computing power to simply generate a sequence of numbers. Energy that could have been used for a genuinely useful purpose.

Since it is virtually impossible to mine profitably without a huge amount of capital I am not clear how it is lifting anyone out of poverty.

The decentralisation aspect that many bitcoin enthusiasts seem to fetishise is also the source of many of its problems. In most cases, for most people a central authority is a good thing when it comes to money.

a reply to: ScepticScot

Proof of stake is the new method for most alts. It regularly pays out additional coins to everyone holding in their native wallet so long as it is kept online to act as nodes the the network. Sometimes these additional coin payouts are created new up to a set limit and then they come from transactions fees. Others just come from tx fees.

People really should stop putting blockchain and bitcoin in the same sentence. Yes, bitcoin uses blockchain but blockchain doesn't care about bitcoin. Think of blockchain like a road. There are a lot of different kinds of vehicles on the road - car, truck, bicycles, protesters and so on. Same with blockchain. One can use it to send bitcoins, contracts, certificates or any number of different kinds of electronic blobs that you don't want just anyone to peak at. It really is the future and it will show up without most people realizing it.

However, blockchain will become obsolete once quantum computing comes out of the lab and into the mainstream. Then something new will come along.

originally posted by: strongfp
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.

that question has already been answered in this thread, you asked it twice and ignored the first answer.

you would give the plumber your debit card information and he would charge it for cash just like any other debit card, the card would automatically convert your store of coin to the cash needed for the transaction and route it to his account the same as any debit card, on your end and on the plumbers end the experience would be no different, except it would save both you and the plumber a huge percentage of money not having to pay the various fee's that come with a central bank.

debit cards which hold bitcoins/altcoins and convert it to cash when swiped in a standard debit card reader are already invented and work fine, your excuse that it isnt convenient enough is an old outdated excuse that the system has already overcome for those paying attention.

and if you think a separate currency as opposed to the usd is a pyramid scheme just cause it isnt usd then you really dont understand what a pyramid scheme is.

at least my currency cant be counterfeited or inflated through government printing. enjoy your steadily devaluing/depreciating currency, i will enjoy my steadily revaluing/appreciating currency


remember, the only one effected by you not joining the unstoppable currency revolution is you. it will pull you in eventually, the sooner the more you benefit. so put it off all you want, we'll see you here sooner or later....

www.usdebtclock.org...

originally posted by: LogicalGraphitti
People really should stop putting blockchain and bitcoin in the same sentence. Yes, bitcoin uses blockchain but blockchain doesn't care about bitcoin. Think of blockchain like a road. There are a lot of different kinds of vehicles on the road - car, truck, bicycles, protesters and so on. Same with blockchain. One can use it to send bitcoins, contracts, certificates or any number of different kinds of electronic blobs that you don't want just anyone to peak at. It really is the future and it will show up without most people realizing it.

However, blockchain will become obsolete once quantum computing comes out of the lab and into the mainstream. Then something new will come along.

i dont think its logical to expect that bitcoin and blockchain should never be in the same sentence.
also, if i had only put the word blockchain in the thread title and not bitcoin as well, there would be a percentage of people unaware what the subject matter was about, meaning there are more people familiar with the world bitcoin then there are the word blockchain.

also, there are "quantum proof" coins already on the market....

originally posted by: Aliensun

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.

if the world lost electricity then i think lack of access to electronic cash would be only 1 of many huge issues we'd be facing.....

and yes excited talk sounds like excited talk, congrats on that conclusion there.

scams only work when there is a secret involved which brings advantage to the centralized orchestraters, this tech is decentralized and open source, you can read the code it runs on itself, to pull off a scam with that sort of structure is not possible.

originally posted by: ScepticScot

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

incorrect they are created in data through calculation, not thin air, data/information does have value, they are calculations and without their data they cease to exist, (unlike air...) and there is indeed a way to remove coins from a currency they call it burning, coins are burned all the time by organizations who have started their own coins for various reasons, typically to increase the value of the ones remaining.

The link is quite interesting but I am not convinced it offers a major advantage over any of the other multitude of ways to invest in gold.

the point was that the currency can have metals backing it, they arent all baseless tokens. but to debate its advantages over alternate gold investment options have a read over their own thread where they elaborate those differences bitcointalk.org...

Actions have been taken to improve verification time but the verification process is inherent in the system. Delays may not matter for some types of payment but could well restrict it's wider adoption.

its clear you havnt spent a second reading about the lightning network, its fine that you dont understand it at all but dont go posting misinformation like that, you contribute to the ignorance of others by doing that.
if you actually read about it youll see it reduces transaction delays to nothing, zero, they become instant. much faster then your fiat currencies. so no they will not "restrict it's wider adoption"
lightning.network...

The mining process is incredibly wastefull as it is using vast amounts of energy and computing power to simply generate a sequence of numbers. Energy that could have been used for a genuinely useful purpose.

Since it is virtually impossible to mine profitably without a huge amount of capital I am not clear how it is lifting anyone out of poverty.

more misinformation spawned out of ignorance. i ran a miner for a couple months on my little pc here, made $100, which will actually increase in value likely doubling to $200 due to the coins nature of appreciating in value. and yes thats profit on top of the electricity cost which i factored in by measuring my computers usage with a meter that i attached to the outlet.

if your not running a powerful mining farm you would join whats called a mining pool which distributes rewards to all miners in the pool based on (depends on the coin) some coins payout based on time spent mining, some pay out based on computing power spent, some pay out based on other factors. but all of them tend to pay out enough to make it profitable,
there are times when it isnt considered profitable due to a momentary dip in the currencies value, but after all these years they have always bounced back into value rapidly.
also worth considering is your electricity costs there are a few places in this world charging 10X the price for electricity then youd get in other regions.

but mining is irrelevant here, the thread was about owning and transacting with new currencies, not the pros cons to mining them.

The decentralisation aspect that many bitcoin enthusiasts seem to fetishise is also the source of many of its problems. In most cases, for most people a central authority is a good thing when it comes to money.

i like how you have zero examples of this bs you made up on the spot.

a central authority printing money has never been "a good thing".
whats one problem sourced from decentralization? id love an example here....
i think this just underscores your not here to present reasons to be against, your here to invent reasons to be against it, you want to be against it reason or not, finding the reasons is secondary to you.

too much talking-in-circles


assets tied to block-chain parent/pedigree info are more valuable than stand-alone coins-or-chains...
there will be hundreds of crypto coins made but only few will have upper value which commands respect

many NODES will reject certain coins for only 10% of their inflated transaction/ hence value -- in the cyber realm

I again return to the MERs mess (still out there) the crap mortgages bundled with a few good mortgages spoil the whole piece-of-paper document
same goes with the ICOs of various assets/commodities

its a overview that sees the forest beyond the trees



BTW the China, mining Farms near hydro-electric dams have a $0 cost for electricity to mine or conflate the 'chains' that represent commodity coins... this in reply to the above Normal post....

originally posted by: St Udio
I again return to the MERs mess (still out there) the crap mortgages bundled with a few good mortgages spoil the whole piece-of-paper document
same goes with the ICOs of various assets/commodities

while i agree on the mortgage industry, i do not think that compares to icos at all, crap ICO's do not spoil the practice itself for the good ICO's
perhaps it does in the opinions of those who never participate in them anyway, but in that who cares what those non contributors think?
there are still millions being dropped in hours into ICO's if the practice was spoiled that wouldnt still be happening, in fact, its been increasing in revenue generation with each ICO's, its become the most effective fundraising method thats ever existed. sure some crap ico's have occurred, but that isnt stopping the practice from having a competitive edge and being received well enough.

BTW the China, mining Farms near hydro-electric dams have a $0 cost for electricity to mine or conflate the 'chains' that represent commodity coins

indeed sure would be nice to get electricity for almost nothing like that.
keep in mind though they still have to pay for hardware decay/replacements. though im sure its still very profitable for them. especially with such a large variety of coins, isnt to hard to switch which your mining on the fly to w/e one is most profitable at that moment.

a reply to: NobodiesNormal

Again just because something used electricity to be created doesn't give it value. Bitcoin is nothing more than numbers just like fiat currency. Unlike fiat currrency there is nothing at the end of process giving it value.

The lightning network does solve bitcoins issues. It is an alternative method of resolving transactions in a faster way but due to the complexity set required it is even less likely to lead to widespread adoption. I think you may need to broaden your reading on it rather than just bitcoin fanboy sites.

Most people don't want or need the inconvenience and risk of using a digital currency. The standardisation, protections and simplicity of going through centralised regulated network make it far superior for the majority of transactions.

As long as functions government can demand tax payments in their own currency then any digital currency is just an intermediate step. Why go through the hassle for day to day use?

The evidence seems to me to suggest that bitcoin is a speculative bubble as it value is way above what is needed to cover the actual purchase transactions.

heres another drawback which will be repaired when the China based Crypto Coin is a full fledged reality


"Your Bitcoin is NOT Anonymous: IRS Moves To Track Bitcoiners With New Chain Analysis Tools"
source: www.shtfplan.com...


the IMF & BIS ACC commodity coins and Nodes will be easy to convert Bit-coin and the Etherium coin, which will derail the IRS tracking programs...but that is after 2018 when the Global Gold Yuan/peoples' money starts replacing the fiat USD on the global scale...

these are exciting times huh

it seems that the Crypto coin & block-chain paradigm is capturing all the attention lately--- in my g-mail mailbox i got this coin/token offering for early bids/sales of the product.... and i list the notice by clif high of a heavy analysis of the Russian/China or eastern-bloc command of the new financial landscape the world is on the threashold of---even as the USD hegemony disappears in a quick-space of time...prepare !


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+AND THIS ANNOUNCEMENT FROM 'predictive linguistics guru, Mr C High+

Clif High’s latest report is titled “Collected Curious Crypto ~ Paruski!” Because of the amount of time and analysis involved, High is charging $99. It focuses heavily on crypto currencies. Go to HalfPastHuman.com and scroll down if you want to buy the report.

High tells me he will have another report out at the end of August that will focus on predictions for society, civil unrest, chaos and politics. That report will be the standard $15 charge. There is also some free information and videos on HalfPastHuman.com.

Bitcoin is no revolution, but rather a bubble. Not only is it a bubble, but while the bubble grows it has been used for all kinds of criminal purposes, such as terrorism funding and drug operations funding.
Think about it. If bitcoin is a revolution, how come that the US and the EU allow its usage, even though not recognizing it as a currency? ... Because the want plausible deniability for terrorist funding from the EU govt, therefore it needs to be allowed but not recognized officially as currency or payment method by banks.

a reply to: Flanker86

what you are saying is a myth, as posted just a few posts ago by another member, bitcoin isnt totally anonymous and is trackable, which is why the few times bitcoin was used for such the operations are exposed, so its not now being used for terrorism or silk road etc, what you speak of are totally different coins designed to be more anonymous then bitcoin, that situation is separate, not all coins are created equal...
and as is trending in the news, the government does recognize bitcoin and crypto-currencies. officially.

www.sec.gov...
cointelegraph.com...
cointelegraph.com...

cointelegraph.com...

Bitcoin bubble is now growing so hard, that at its collapse it will drag down all other cryptocurrencies with it and a lot of secondary non-functional IT / Web product's values!

my point of view is that we should be developing a new blockchain voting system

a reply to: NobodiesNormal

hmmm, so if I spoof a mac/ip address and then only log into a wallet with fake information stored in the cloud through a proxy server through TOR how could anybody figure out who I was?

Just throwing an idea out there not a lot if thought behind that

originally posted by: toysforadults
a reply to: NobodiesNormal

hmmm, so if I spoof a mac/ip address and then only log into a wallet with fake information stored in the cloud through a proxy server through TOR how could anybody figure out who I was?

Just throwing an idea out there not a lot if thought behind that

theres already voting things, just google "blockchain voting system" theres tons being worked on now,

and yeah that approach is the only hope you would have of hiding/laundering illicit funds but supposedly the officials have ways of spotting where those go to, not sure how, theres hints of it in the previously linked articles on the IRS and the company they teamed with to track it.

Bitcoin is nothing more than a pilot that will end some day and devalue any digital currency to be replaced by something from an official government or bank. Blockchain is the future and will change a lot of things, both in ICT and in societies.

a reply to: spliffster

id agree with calling bitcoin a pilot, but i dont think it will ever totally end, there will always be some number of long HODLers keeping their bitcoins for noveltys sake,

but indeed i agree it is unlikely bitcoin will remain the biggest market cap of the cryptos as it is now. it just isnt being flexible enough, people wanted segwit and it got stubborn and refused it, people will migrate to more efficient blockchains eventually, which will become the new dominant market cap? well if you can figure that out then you can get another chance at being a "bitcoin millionaire"