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# Is bitcoin building the matrix?

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posted on Oct, 21 2017 @ 02:29 PM

Thank you for your input! I'll check back later
lunch time!
edit on 21-10-2017 by thefourthjokerscard because: (no reason given)

posted on Oct, 21 2017 @ 02:31 PM

edit on 21-10-2017 by thefourthjokerscard because: Oops

posted on Oct, 21 2017 @ 02:41 PM

Might want to rethink your math. 700 to 5000 is more than 39% it is roughly 700%

posted on Oct, 21 2017 @ 02:43 PM

700 × 5000 % is 35,000 which would be 35% right?

posted on Oct, 21 2017 @ 02:43 PM

That and bitcoin is a total fraud, I can't wait for it to crash hard.

posted on Oct, 21 2017 @ 02:44 PM

Sorry that's without the new 6000 cap!

posted on Oct, 21 2017 @ 02:45 PM

700 X 7 = 4900. So it is up 700%

posted on Oct, 21 2017 @ 02:45 PM

Well I guess we are all intitled

posted on Oct, 21 2017 @ 02:46 PM

Where do u get 700 x 7?
edit on 21-10-2017 by thefourthjokerscard because: Stupid spell check

posted on Oct, 21 2017 @ 02:52 PM
I have a scenario that would go against bitcoin and blockchain tech......idk Silver, I have 80 coins.....idk

posted on Oct, 21 2017 @ 02:52 PM

you said it was \$700 and now it is \$5000. So every 700\$ increase is a factor of 100%- I will break it down for you:

Start at 700 and double (IE up 100%) = 1400

\$700 (UP 200%) = 2100

\$700 (up 300%)= 2800

700 (up 400%)= 3500

700 (up 500%)= 4200

700 (up 600%)= 4900

700(up 700%)= 5600

Your whole premise is about math this should be simple for you to figure out.

posted on Oct, 21 2017 @ 02:54 PM

Like any currency or precious metal, its worth is measured by the faith put into it. If everybody decided it was worthless, it would then be worthless.

Tilt. Precious metal is intrinsic and if you hold it, tangible also. Unlike fiat currencies or 'computer bits', which have no actual intrinsic value.

If the internet switch is thrown tomorrow, the value of bit coin evaporates, pffft. If the debt leveraged, Fiat paper money system collapses, you will not be able to go to the bank to get cash or use your credit or bank cards. Remember what happened recently in Italy?

The ATMS were dark. No-one accepted credit.

What are you going to do? Hopefully somebody in your family stored by some silver or gold in easily recognizable form that you can take to the farmers markets that will spring up so you can buy some eggs or bread. Because they won't be accepting plastic or paper.
edit on 21-10-2017 by intrptr because: spelling

posted on Oct, 21 2017 @ 02:55 PM

originally posted by: thefourthjokerscard

Where do u get 700 x 7?

that's the true number 700 %.....just a tad over

posted on Oct, 21 2017 @ 02:55 PM
it amazes me that idiots that denounce " fiat currencies " think that bitcoin is actuallly worth something

posted on Oct, 21 2017 @ 02:57 PM

Intrinsic......so they have a name for it.....I like

it has to be something you can write your phone number on, huh!

posted on Oct, 21 2017 @ 02:59 PM

originally posted by: ignorant_ape
it amazes me that idiots that denounce " fiat currencies " think that bitcoin is actuallly worth something

the blockchain is viable.....it's a " truth for all to see " right there in the chain, but.......at some point ......some sneaky sob could.......

editt...Jamaica already signed on.....with their national stock market...Veritaseum.....VERI

edit on 21-10-2017 by GBP/JPY because: (no reason given)

edit on 21-10-2017 by GBP/JPY because: (no reason given)

edit on 21-10-2017 by GBP/JPY because: (no reason given)

posted on Oct, 21 2017 @ 03:38 PM
With modern precious metals lease rates priced so low bitcoin is a viable alternative.
There is likely market intervention by insiders, Proceeds from ETF's like “Rex Short Bitcoin Strategy” probably reinvest in the purchase of more bitcoins rather than actually short sell them.
As for the mystery of the bitcoin founder, there are so many artificial intelligence search engines available these days I'm surprised it hasn't been disclosed.

posted on Oct, 21 2017 @ 04:41 PM
Bitcoin and the hundreds of others are 'cryptocurrency'. Cryptography is the particular important math happening here, and it's complicated. I can't say exactly how it all works but I think I can help answer your question.

The Blockchain is the public record of every transaction. When a miner solves Satoshi's algorithm the results are added to the Blockchain, and is part of the seed, or start, of the next algorithm solve. The part that is added to the Blockchain looks like jibberish but encoded in that jibberish of numbers and letters is the record of transactions for that block's timeframe.

Once the transactions are solved and added to the Blockchain, they are 'confirmed' universally by every Bitcoin client and miner.

One of the challenges Bitcoin had to figure out is this: I could spend 5 Bitcoin on something, then I could hurry up and spend it again, before my Bitcoin was 'confirmed' as spent. It's similar to having \$100 in a checking account, and writing two checks for \$90 before either clear the bank. With the bankng system, the banks generally make it good for the person who got screwed, or at least give a place to lobby a complaint. Bitcoin doesn't have a central bank, so to ensure safety for the reciever of Bitcoin the reciever has to wait till the transaction is 'confirmed' by miners solving the block to be certain the Bitcoin hasn't been double-spent. Each solve has numerous transaction histories encoded and added to the Blockchain.

A major point creating the difficult solve and cryptography of the Blockchain is that for whole system to be hacked, the entire collective computing power up to this point will have to be basically copied exact from the start and and then 'pass up' the current Blockchain. Essentially Bitcoin's security gets stronger over time.

To know the proper 'seed' to outwork the miners and beat them to the solve you have to know where the last one left off, and then overpower all the miners for the block. You have to have at least 51% of worldwide mining power to have a chance, plus a complete Blockchain history ready to overwrite the current one. Basically unimaginable computing power and it's getting harder by the minute for a hacker out to ruin the system.

tl;dr: The difficult math is what gives Bitcoin it's security and allows huge monetary values to be systemically safe. The classical banking security comes from banksters overseeing everything. The math doesn't add monetary value, just intrinsic value. Monetary value is defined by the free market.

posted on Oct, 21 2017 @ 04:49 PM

originally posted by: intrptr

Like any currency or precious metal, its worth is measured by the faith put into it. If everybody decided it was worthless, it would then be worthless.

Tilt. Precious metal is intrinsic and if you hold it, tangible also. Unlike fiat currencies or 'computer bits', which have no actual intrinsic value.

If the internet switch is thrown tomorrow, the value of bit coin evaporates, pffft. If the debt leveraged, Fiat paper money system collapses, you will not be able to go to the bank to get cash or use your credit or bank cards. Remember what happened recently in Italy?

The ATMS were dark. No-one accepted credit.

What are you going to do? Hopefully somebody in your family stored by some silver or gold in easily recognizable form that you can take to the farmers markets that will spring up so you can buy some eggs or bread. Because they won't be accepting plastic or paper.

Unless you are making electronic components or something, gold has no inherent value. If we decided it wasn't worth anything, it wouldn't be.

It is ultimately no more valuable than data stating its own worth. Goods and services have inalienable value because it's apparent when we get it. Precious metals, not so much.

posted on Oct, 21 2017 @ 05:02 PM

Who's making money from crypto-currency (C2)? Computer Hardware suppliers. Now matter how much gets "mined", used or just passed around, the real winners of this whole exercise are the companies building the hardware to "mine" the C2.

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