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The Bitcoin Hard Fork Fast Approaching, SEGWIT2X, is a BAD DEAL. #NO2X!

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posted on Oct, 30 2017 @ 01:57 PM
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Okay so here's how I see it. Bitcoin is a decentralized currency that's not controlled by the FED. It is HIGHLY effective at doing exactly what needs to be done - showing the government that we don't need them to do certain things anymore in our names. With Bitcoin, you basically can be your own bank. That's what the propaghandis want you to never know. The implications of the existence of a scarce digital resource which can't be reproduced/copied on a digital machine (thank you cryptographers and BTC Core team for doing what you do) are far reaching.

Bitcoin is the place where politics meets economics meets philosophy. It's an intellectual masterpiece - and it's as disruptive to markets as the internet itself or perhaps even the coining of money itself. That's because it is a decentralized open source operation.

The proof of its decentralization is in the pudding. When people who participate in BTC disagree on the rules pertaining to BTC, they can fork off and compete with one an other for the BTC market. Bitcoin Gold, Bitcoin Cash, ect. come to mind. Many many many alt-coins come to mind... But BTC remains the industry giant as it weathers storm after storm with redoubling efficiency. Because forks happen, we see directly in the market the openness of the system. However with great freedom comes great responsibility.

I'm writing this because IF YOU VALUE FREEDOM, you should not support:
1) BTC mining pools who support SEGWIT2X.
2) Exchanges who decide to rename the original bitcoin to something else, and then subsequently call "B2X" bitcoin or "BTC" misleading users and unnecessarily making hasty decisions. I happen to believe that in good time, the blocksize will be increased. By BTC Core and by you and me. NOT BY CLOSED DOOR CORPORATE DOUCHEBAGS.

If you have holdings on Coinbase, a fine and dandy thing that you could do would be ditch all your alt coin for BTC a week prior to the split, hold BTC through the split, wait for the post split B2X traitors to pump up their OBVIOUSLY dead-on-arrival, ill-advised, no-replay-protection, centralized skullduggery, and then dump as any good BTC user should.

I will not be mining on SEGWIT2X protocols, and I'd like to take my hat off to the F2pool team, Slushpool folks, and all the others that aren't gonna be carjacked.

Oh by the way? BTC (original) GONNA BE THROUGH THE ROOF, because once this stupid type of forced decision malarkey has been refuted, the price is gonna go through the roof because people will see the resiliency of BTC. It's gonna be $10,000 before year's out I bet. Probably more.

BTC under fire? $6300 yesterday. I'd say she's doing just fine. But the futures market on SEGWIT2X shows it's at $1000 because of all the bluffing by corporate miners and exchanges. Hahahhahaha. From my viewpoint, it's time to make some money doing the right thing... tanking the tyrants. #NO2X

coinmarketcap.com...
coinmarketcap.com...


edit on 10/30/2017 by JamesCookieIII because: edit, links.

edit on 10/30/2017 by JamesCookieIII because: formattign




posted on Oct, 30 2017 @ 02:06 PM
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Read until " NOT BY CLOSED DOOR CORPORATE DOUCHEBAGS".



posted on Oct, 30 2017 @ 02:11 PM
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a reply to: hombero

I'm sorry dude, this kind of stuff breaks my heart... Some people don't appreciate what they have until it's gone. Short term profit seeking at the expense of freedom itself later... Sigh.



posted on Oct, 30 2017 @ 02:14 PM
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So.. how will bitcoin actually have value if its constantly overproduced by mining operations. The average user can't even mine their own BTC because it isn't even possible. How can there be true value in something that has no actual backing?

How does something that breaks off into multiple crypto-currencies hold value when there are so many alternate options to BTC?

I just feel like bitcoin is a scam, and if you invested a lot of money into it, I expect you'll lose big while the people who took your actual money for something that has no real value gets rich.

Where does your cash go after you buy bitcoins? Who takes the tangible assets, and where do they put them?



posted on Oct, 30 2017 @ 02:15 PM
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a reply to: JamesCookieIII

This whole premise that BTC is the "silver bullet" for the Central Bankers and corrupt governments is so far from the truth. It may be a thorn in their side at the moment (a very, very small thorn), but ultimately cryptocurrencies will be used as a(/the) primary method of transactions by governments and banks themselves.

Estonia and other countries have already announced sovereign cryptos.

You should be weary of Bitcoin and other cryptos when you hear criminal scam artists like Jeff Berwick constantly pushing it.

Or Bix Weir (who disabled comments on his Youtube videos because people called him out on his innacurate statements).

Or Elijah Johnson on Finance and Liberty, who is another liar who tries to take advantage of gullible youtubers.

You should also be weary of "Gold Bugs" like Jim Willie (from Golden Jackass) who is in the business of making money off of people investing in products he's invested in. This trick is not exclusively used with cryptos, but they are a great example of it.



edit on 30-10-2017 by FamCore because: (no reason given)



posted on Oct, 30 2017 @ 02:36 PM
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originally posted by: eXia7
So.. how will bitcoin actually have value if its constantly overproduced by mining operations. The average user can't even mine their own BTC because it isn't even possible. How can there be true value in something that has no actual backing?

How does something that breaks off into multiple crypto-currencies hold value when there are so many alternate options to BTC?

I just feel like bitcoin is a scam, and if you invested a lot of money into it, I expect you'll lose big while the people who took your actual money for something that has no real value gets rich.

Where does your cash go after you buy bitcoins? Who takes the tangible assets, and where do they put them?


uhh I don't know, maybe you should read an article about it?

bitconnect.co...

The thing is, BTC market cap just hit 100 billion dollars. But since only maybe 3-4 million people use it so far in a world of 3.5 billion internet users.... I think you're wrong.
edit on 10/30/2017 by JamesCookieIII because: typo



posted on Oct, 30 2017 @ 02:41 PM
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a reply to: JamesCookieIII

Well if only 3-4 million people think it has value, and the rest of the people don't, then I guess that kind of just makes it worthless to everybody else that doesn't really participate in BTC.

I certainly don't think 1 bit coin is worth $6090.55 of my actual known accepted currency the USD. So there is the problem my friend... you're expecting the entire planet to buy into bitcoin when somebody says its worth $6090.55 that they don't even have.

Even if you wanted bitcoin, and had no actual money, you can't even participate in it. So how can a completely poor person with no computer or knowledge of crypto-currency benefit from this system?


ETA: Its possible that this entire BTC thing is a scam created by the banksters to get people to give up their money for something that doesn't even exist... then the government will clamp down on crypto-currencies as illegal currency while the banks rake in all the money, and the average user is left holding the bag.
edit on 10/30/2017 by eXia7 because: (no reason given)



posted on Oct, 30 2017 @ 02:54 PM
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originally posted by: eXia7
a reply to: JamesCookieIII

Well if only 3-4 million people think it has value, and the rest of the people don't, then I guess that kind of just makes it worthless to everybody else that doesn't really participate in BTC.

I certainly don't think 1 bit coin is worth $6090.55 of my actual known accepted currency the USD. So there is the problem my friend... you're expecting the entire planet to buy into bitcoin when somebody says its worth $6090.55 that they don't even have.

Even if you wanted bitcoin, and had no actual money, you can't even participate in it. So how can a completely poor person with no computer or knowledge of crypto-currency benefit from this system?


ETA: Its possible that this entire BTC thing is a scam created by the banksters to get people to give up their money for something that doesn't even exist... then the government will clamp down on crypto-currencies as illegal currency while the banks rake in all the money, and the average user is left holding the bag.


Then it's basically a pascal's wager situation... If BTC is rigged, and the money is rigged and corporations and everything is rigged, then there is no hope for ethical money. Whereas if BTC CAN decentralize and open up the markets, then it is SEVERELY underpriced right now, because of the potential to allow so many who can't trade the ability to around the world. Think of Somalians using crypto to subvert warlord's heavy handed taxes... I'm gonna stick with optimism. BTC has been doing a number on the false prophets.



posted on Oct, 30 2017 @ 03:01 PM
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a reply to: JamesCookieIII

Look, the idea behind it is a good concept, but the chances of it actually gaining traction are slim. If you think governments are going to lose control of their only form of slavery, then you are mistaken.

This is pretty much the same as me printing my own money, calling it something else, then trying to get people to buy into it as "real money". If I tried that, the government would throw me in prison for counterfeiting.

I feel the only reason that this thing is still around is because its a scam of the century, what better way for bankster and corporate organizations to get free money?

Problem, reaction, solution.

My gut says this isn't right.. and until BTC actually has a more realistic value other than some arbitrary number placed on it by a minority, I'm out.. not my game.



posted on Oct, 30 2017 @ 03:09 PM
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originally posted by: eXia7
a reply to: JamesCookieIII
I certainly don't think 1 bit coin is worth $6090.55 of my actual known accepted currency the USD. So there is the problem my friend... you're expecting the entire planet to buy into bitcoin when somebody says its worth $6090.55 that they don't even have.

Even if you wanted bitcoin, and had no actual money, you can't even participate in it. So how can a completely poor person with no computer or knowledge of crypto-currency benefit from this system?


ETA: Its possible that this entire BTC thing is a scam created by the banksters to get people to give up their money for something that doesn't even exist... then the government will clamp down on crypto-currencies as illegal currency while the banks rake in all the money, and the average user is left holding the bag.


Yes you can participate in it. You can buy any amount of bitcoin that you want. If you want to buy $10 worth or $10,000 worth, you're free to do so. You don't have to buy an entire bitcoin, that's a total misconception from people who have no idea what they're talking about. That's not at all how it works.
It's absolutely not a scam, because banks are now rushing to play catch-up with blockchain technology. Major world governments are even starting to look at creating their own national cryptocurrencies like bitcoin because of how powerful it is. Bitcoin and other cryptos have completely caught banks and governments off guard, and those institutions are in a mad race right now to stay on top of the game.



posted on Oct, 30 2017 @ 03:15 PM
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originally posted by: eXia7
a reply to: JamesCookieIII

Look, the idea behind it is a good concept, but the chances of it actually gaining traction are slim. If you think governments are going to lose control of their only form of slavery, then you are mistaken.


I always find it funny when people say things like this. People have been calling bitcoin a scam ever since it was made public 6 years ago, and yet here it still is. People have been saying it has no value ever since it was created, and yet it went from a fraction of a cent per bitcoin to over $6,000, making quite a lot of people filthy rich with hundreds of millions of dollars to their names. People have been calling it a bubble and saying it's going to crash for years, and yet it continues to gain value. You say it has no chance of gaining traction? It's own history proves that to be blatantly false. It has done exactly that.

And yeah, governments are realizing how useful cryptocurrencies are. That's why they're starting to regulate them and create their own that they CAN tax and control. If cryptocurrencies had no use, governments wouldn't be creating their own.

Ever pay for something with a credit card? Think about that one for a second. Credit cards don't magically teleport physical dollar bills into a cash register, they utilize digital payments. Like cryptocurrencies, which are the natural evolution of worldwide payment systems.
edit on 10/30/2017 by trollz because: (no reason given)



posted on Oct, 30 2017 @ 03:15 PM
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originally posted by: trollz

originally posted by: eXia7
a reply to: JamesCookieIII
I certainly don't think 1 bit coin is worth $6090.55 of my actual known accepted currency the USD. So there is the problem my friend... you're expecting the entire planet to buy into bitcoin when somebody says its worth $6090.55 that they don't even have.

Even if you wanted bitcoin, and had no actual money, you can't even participate in it. So how can a completely poor person with no computer or knowledge of crypto-currency benefit from this system?


ETA: Its possible that this entire BTC thing is a scam created by the banksters to get people to give up their money for something that doesn't even exist... then the government will clamp down on crypto-currencies as illegal currency while the banks rake in all the money, and the average user is left holding the bag.


Yes you can participate in it. You can buy any amount of bitcoin that you want. If you want to buy $10 worth or $10,000 worth, you're free to do so. You don't have to buy an entire bitcoin, that's a total misconception from people who have no idea what they're talking about. That's not at all how it works.
It's absolutely not a scam, because banks are now rushing to play catch-up with blockchain technology. Major world governments are even starting to look at creating their own national cryptocurrencies like bitcoin because of how powerful it is. Bitcoin and other cryptos have completely caught banks and governments off guard, and those institutions are in a mad race right now to stay on top of the game.


I think I'll stick with traditional money. And if I'm not happy with cash, I'll just spend it on land, or real estate instead. At least then I know I have something of actual value.



posted on Oct, 30 2017 @ 03:19 PM
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originally posted by: trollz

originally posted by: eXia7
a reply to: JamesCookieIII

Look, the idea behind it is a good concept, but the chances of it actually gaining traction are slim. If you think governments are going to lose control of their only form of slavery, then you are mistaken.


I always find it funny when people say things like this. People have been calling bitcoin a scam ever since it was made public 6 years ago, and yet here it still is. People have been saying it has no value ever since it was created, and yet it went from a fraction of a cent per bitcoin to over $6,000, making quite a lot of people filthy rich with hundreds of millions of dollars to their names. People have been calling it a bubble and saying it's going to crash for years, and yet it continues to gain value. You say it has no chance of gaining traction? It's own history proves that to be blatantly false. It has done exactly that.

And yeah, governments are realizing how useful cryptocurrencies are. That's why they're starting to regulate them and create their own that they CAN tax and control. If cryptocurrencies had no use, governments wouldn't be creating their own.

Ever pay for something with a credit card? Think about that one for a second. Credit cards don't magically teleport physical dollar bills into a cash register, they utilize digital payments. Like cryptocurrencies, which are the natural evolution of worldwide payment systems.


It only has a $6000 price tag because its just an arbitrary number placed on it.

And besides, like you said, there is already a digital system in place for processing currency. What makes bitcoin anymore valuable than the digital money in your digital bank account? Other than the fact that I can get actual cash and go spend it anywhere I want.
edit on 10/30/2017 by eXia7 because: (no reason given)



posted on Oct, 30 2017 @ 03:32 PM
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originally posted by: eXia7

originally posted by: trollz

originally posted by: eXia7
a reply to: JamesCookieIII

Look, the idea behind it is a good concept, but the chances of it actually gaining traction are slim. If you think governments are going to lose control of their only form of slavery, then you are mistaken.


I always find it funny when people say things like this. People have been calling bitcoin a scam ever since it was made public 6 years ago, and yet here it still is. People have been saying it has no value ever since it was created, and yet it went from a fraction of a cent per bitcoin to over $6,000, making quite a lot of people filthy rich with hundreds of millions of dollars to their names. People have been calling it a bubble and saying it's going to crash for years, and yet it continues to gain value. You say it has no chance of gaining traction? It's own history proves that to be blatantly false. It has done exactly that.

And yeah, governments are realizing how useful cryptocurrencies are. That's why they're starting to regulate them and create their own that they CAN tax and control. If cryptocurrencies had no use, governments wouldn't be creating their own.

Ever pay for something with a credit card? Think about that one for a second. Credit cards don't magically teleport physical dollar bills into a cash register, they utilize digital payments. Like cryptocurrencies, which are the natural evolution of worldwide payment systems.


It only has a $6000 price tag because its just an arbitrary number placed on it.

And besides, like you said, there is already a digital system in place for processing currency. What makes bitcoin anymore valuable than the digital money in your digital bank account? Other than the fact that I can get actual cash and go spend it anywhere I want.


The value isn't arbitrary, it's decided by a number of factors. Creating bitcoins requires computers to work out complex mathematical calculations that become more and more difficult. The longer bitcoin exists, the harder it is to create more, with serves to safeguard it against devaluation. Someone can't just go print out billions of dollars worth of it and crash the price like they can (and have) with cash. People are also using it all over the world to purchase everyday things. You can get credit cards linked directly to your bitcoin account and buy things with bitcoin or other cryptocurrencies anywhere in the world that visa cards are accepted.



posted on Oct, 30 2017 @ 03:39 PM
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originally posted by: trollz

originally posted by: eXia7

originally posted by: trollz

originally posted by: eXia7
a reply to: JamesCookieIII

Look, the idea behind it is a good concept, but the chances of it actually gaining traction are slim. If you think governments are going to lose control of their only form of slavery, then you are mistaken.


I always find it funny when people say things like this. People have been calling bitcoin a scam ever since it was made public 6 years ago, and yet here it still is. People have been saying it has no value ever since it was created, and yet it went from a fraction of a cent per bitcoin to over $6,000, making quite a lot of people filthy rich with hundreds of millions of dollars to their names. People have been calling it a bubble and saying it's going to crash for years, and yet it continues to gain value. You say it has no chance of gaining traction? It's own history proves that to be blatantly false. It has done exactly that.

And yeah, governments are realizing how useful cryptocurrencies are. That's why they're starting to regulate them and create their own that they CAN tax and control. If cryptocurrencies had no use, governments wouldn't be creating their own.

Ever pay for something with a credit card? Think about that one for a second. Credit cards don't magically teleport physical dollar bills into a cash register, they utilize digital payments. Like cryptocurrencies, which are the natural evolution of worldwide payment systems.


It only has a $6000 price tag because its just an arbitrary number placed on it.

And besides, like you said, there is already a digital system in place for processing currency. What makes bitcoin anymore valuable than the digital money in your digital bank account? Other than the fact that I can get actual cash and go spend it anywhere I want.


The value isn't arbitrary, it's decided by a number of factors. Creating bitcoins requires computers to work out complex mathematical calculations that become more and more difficult. The longer bitcoin exists, the harder it is to create more, with serves to safeguard it against devaluation. Someone can't just go print out billions of dollars worth of it and crash the price like they can (and have) with cash. People are also using it all over the world to purchase everyday things. You can get credit cards linked directly to your bitcoin account and buy things with bitcoin or other cryptocurrencies anywhere in the world that visa cards are accepted.


Hmm.. value in computers running calculations on algorithms vs Actual human beings providing actual labor/time/sacrifice

Its hard for me to hold value in a computer running a simulation vs people actually trading something of value.



posted on Oct, 30 2017 @ 04:04 PM
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Problem 1 any bank or wealthy individual can make bitcoin worthless in under a week if they felt like it
freedomnode.com...

If u don't wanna read it says around a billion dollars to buy a 51 percent attack

A 51 percent attack allowes A lot of control over bitcoin like stopping transactions

Crypto in general is weak to the power of money

Problem 2 Asic was the fall of bitcoin imo at that point it left the avg Joe's bank roll most bitcoin miners are located in a really small area and controlled bye a even smaller population

Gpu and cpu mining can still be 51% bye the wealthy but it would not be quite so easy
They need hardware a whole lot of it
And they need more hardware than could be just turned on the network (more grafixcards than the rest of the world) to guarantee success

And none of this even begins to cover the other flaws all cryptos have or will have

Just imagine 10 mins of transaction time to buy gas ... 5 to 10 mins for a confirmation Is not bad to a bitcoin user data.bitcoinity.org...

Now add the whole world doing transactions ... it's painfully clear btc is not ready to replace money

Crypto will be the future ... but like all money the first one made won't be the one used

Keep your money in things u can horde
Invest in things you can trust



posted on Oct, 30 2017 @ 04:31 PM
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originally posted by: markovian
A 51 percent attack allowes A lot of control over bitcoin like stopping transactions

Just imagine 10 mins of transaction time to buy gas ... 5 to 10 mins for a confirmation Is not bad to a bitcoin user data.bitcoinity.org...

Now add the whole world doing transactions ... it's painfully clear btc is not ready to replace money


51% attacks aren't a concern for all cryptocurrencies.
There are also cryptocurrencies that can do essentially instant transactions. Look at the Ethereum Raiden network, for example. Alot of people are focused on bitcoin, but Etheruem is the one to watch in my opinion, despite not being originally intended as a currency. It has massive worldwide support from some of the largest corporations and banks in the world, like Microsoft, and is being worked on like crazy. Ethereum is like the invention of Windows. It's going to be everywhere.



posted on Oct, 30 2017 @ 04:58 PM
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I am confused by it's actual value, it still needs to be traded for dollars.

Is it only a pump and dump scheme?

It sure sounds like it. Can you explain it's value beyond a small group of traders speculating?

thanks
edit on 10 by Mandroid7 because: (no reason given)



posted on Oct, 30 2017 @ 05:01 PM
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a reply to: eXia7


So.. how will bitcoin actually have value if its constantly overproduced by mining operations.


The maximum amount of bitcoins will be 21 million. So it can't be over produced.



posted on Oct, 30 2017 @ 05:03 PM
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a reply to: eXia7

The USD is a fiat currency with no backing.

Its faith backed just like bitcoin.

The difference is they continue printing more money, making it less valuable.

Bitcoin will be capped at 21 million, hence why each individual unit costs so much.



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