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Remember when they said Bitcoin was the people's way of challenging the bankers?

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posted on Nov, 27 2017 @ 10:20 AM
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a reply to: AugustusMasonicus

Yeah. I know. I was rambling about gold backed commodities again. Sorry I got confusing there.




posted on Nov, 27 2017 @ 10:25 AM
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a reply to: Krazysh0t


No worries.



posted on Nov, 27 2017 @ 11:09 AM
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I was just reading the comments on the Guardian article. One reads:



Just bought 0.2 for £1500! I have 1.2 already from years ago and wish I had bought more!


Another reads:



Blockchain, the London-based bitcoin currency service provider, has raised $40 million of fresh funding. Existing investors, including Lightspeed Venture Partners and Sir Richard Branson, provided new financing. Blockchain Chief Executive Officer and co-Founder Peter Smith said his company’s new funding was raised before bitcoin and ether’s recent run up.


I bet the rel big boys have got their claws in, too. Richard Branson is a big player. It's all happening under our very noses. They are going to love this nw investment game and remember it will not stop there. The old roll on effect will keep it swinging from tree to tree and it may look quite different even as it evolves. I just know this is the beginning of the global currency; it already is a global currency isn't it.


I've had fellas who work as farmers, plumbers and labourers talk to me about investing all their savings in Bitcoin. Once things have reached the "plumber threshold", you know it's a bubble.


A lot of people say "bubble" and "pop", but that can't happen because the machine is doing it, lol. How can the machine make it go pop? The machine will adjust accordingly. If the machine calculates that nobody is investing it will devalue until a Bit Coin is even less than a penny. It is fool proof. Of course that will not happen. The machine will take care of all this for us, Captain Kirk.

The earth really has gone quite doolally.


edit on 27-11-2017 by Revolution9 because: (no reason given)



posted on Nov, 27 2017 @ 11:32 AM
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blockchain.info...

That is the blockchain site. There are currently:

16,703,313 Bitcoins in circulation. They are currently valued at:

$9543.36

16,703,313 X 9543 = 159399715959

That is $159,399,715959 (Blockchain has just over 155 billion in current USD worth in circulation.

Is that £159 billion, 399 million, 715 thousand 9 hundred dollars and 59 cents.

The maximum number of Bitcoins that will ever be released (so they say for now) will be 20999999.9769 BTC (21 Million).

It will be interesting to see what happens when the peak is reached. Then it must be a game of trading them and trying to make out of their fluctuating value.

I'll be watching it more closely now for sure.


edit on 27-11-2017 by Revolution9 because: (no reason given)



posted on Nov, 27 2017 @ 11:50 AM
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Ha Ha..
Sounds like sour grapes to me.

I was in from the start as a giggle... Now I'm pissing myself laughing.



posted on Nov, 27 2017 @ 12:42 PM
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originally posted by: Krazysh0t

originally posted by: Revolution9
That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!


What's so bad about that? I'd trust an algorithm over a potentially greedy human's opinion any day of the week.


Because The Machine will decide where you live, what healthcare you get, your priority relative to others. From the globalists point of view, a working class family who has a car and a house with a mortgage is infinitely better off than the refugees from the other side of the world and should be taxed accordingly. It would be no different.



posted on Nov, 27 2017 @ 12:53 PM
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a reply to: stormcell

The point of an algorithm is that it treats everyone according to the algorithm and unless it is SPECIFICALLY programmed into the algorithm then there will be no bias present. Again, I don't see the issue here. It certainly seems fairer than what we do currently. Granted, it is still open to exploitation, but so is everything. You have to actually convince me that things would be worse with that system than the current one to see otherwise. The way I currently see things, an unbiased algorithm closes a HUGE hole that is used for exploitation for the rich.



posted on Nov, 27 2017 @ 01:00 PM
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It boils down to information=energy=money. Everything and it's value will be measured by this metric. Not only will it consume the majority of the world's electricity it will drive up it's price in a frightening spiral. Greed versus human need is the ultimate result. Bitcoin was the trap laid for the public to move to digital currency (it's safe because it's open source code!). Behind it all is Artificial intelligence that is manipulating not only the digital world but people through that same matrix. AI works by learning behaviors and mimicking them so we won't even know it's not other people doing or saying things. It will manipulate humankind to fulfill whatever it's programming is. My speculation on that is AI has corporate values and will seek out profit and control over all other factors. Scary stuff when AI could do such wonders for humanity but it will be used to dominate and control just like every other financial system and weapons system.



posted on Nov, 27 2017 @ 02:21 PM
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If the trades really are this high, I think i've missed the boat but i dont really know how it all works anyway. I read somewhere that if you'd bought $100 worth of bitcoin in 2010, it would be worth 75million now but I don't believe that, I think it was a ploy to get me to sign up and send £100 to whoever is running the thing.



posted on Nov, 27 2017 @ 02:31 PM
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originally posted by: AugustusMasonicus

originally posted by: dfnj2015
Crime pays better than hard work.


I take it you've never read Freakanomics where it was demonstrated the typical drug dealer makes less than a person working at a fast food restaurant.



Pablo Escobar was 'making' sixty million dollars A DAY, how much do fast fooder's make per day ?



posted on Nov, 27 2017 @ 04:03 PM
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originally posted by: Revolution9

It will be interesting to see what happens when the peak is reached. Then it must be a game of trading them and trying to make out of their fluctuating value.

I'll be watching it more closely now for sure.



The deal is the more bit coins there are the harder it is to get more. I don't think they can reach the end anytime in the next 50 years. In the beginning you could mine with GPU power, but now you need a specialized computer. The problem is it costs more for the electricity than what you mine in bitcoins unless you have very special computers designed just to mine, and that will only get worst. I think in China they steal power directly from power planets/ dam power stations.




But GPU mining ended in 2013. The tiny bitdust you will earn will never reach a mining pool's minimum cash out limit. So you will never see any bitcoin. This will be a pure loss consisting of spent electricity and worn-out hardware.

You could buy a USB stick for mining, for 10 USD. It would mine at a loss due to electricity costs. Even if you have free electricity it would never earn back the 10 USD. So this would also be a loss.

The only way to mine now is with modern stand-alone miners. They have a much higher hashrate and efficiency and they use a tiny built-in computer instead of connecting to your PC. You'll want to get one that runs 1 TH/s (1000 GH/s) or faster. You will not want to pay more than 0.30 USD per GH/s for a miner with power supply. You will need cheap electricity.


Every 210,000 blocks mined it gets twice as hard for the next 210,000 blocks.

Here is what 2000.00 will buy you. Extremely efficient to electrical cost, but outside of a few countries you will pay about 130 a month in electrical cost with a profit at today's 9000+ price of about $600 per month. The next difficulty in about a week will be 1.59653160364e+12 and that will be $500 per month profit for that difficulty cycle.








edit on 27-11-2017 by Xtrozero because: (no reason given)



posted on Nov, 27 2017 @ 05:07 PM
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originally posted by: pikestaff
Pablo Escobar was 'making' sixty million dollars A DAY, how much do fast fooder's make per day ?


Is Pablo the 'typical drug dealer' as I said? Seems you missed the point entirely when offering the largest exception to the rule in history.



posted on Nov, 27 2017 @ 05:31 PM
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John McCafee will be eating his own d ick soon enough.


Look it up if you dont know what im talking about lol



posted on Nov, 27 2017 @ 05:33 PM
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I think that it will be too complex and large for main stream use.
edit on 11/27/2017 by roadgravel because: typo



posted on Nov, 27 2017 @ 05:49 PM
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a reply to: Revolution9




Hedge Funds are now involved in Bitcoin investment. It has well and truly become a rich person's game.

I think when they have become rich enough and control it enough they will be wanting to turn the whole world over to Bitcoin and digital currency.


I would like to point out here that you are talking about one coin in the entire 1500+ coin and token crypto space. I'm not sure if that is intentional or you are specifically talking about Bitcoin. I watched the market flourish over the weekend, and it wasn't only BTC (to my profit I might add!
)

There is definitely an influx of new money.




That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!


Did I mention there were other coins? I ask because, well, there are other coins. Bitcoin currently has around 52% of the entire market, and rightfully so due to exposure and speculation. This space is still in its infancy. However, what if I told you that Bitcoin is 1st gen and that 2nd is already here and 3rd is in development. They however are not Bitcoin, nor do they share its name. Ethereum, the 2nd largest crypto by market cap is the 2nd gen. It is not Bitcoin.




Can anyone foresee a problem here? I can see many.


Lots of them! Scale. Interoperability. Network size and speed. Data storage and retention. Anonymity. Adoption. Volatility. Power consumption.

Each generation of crypto is looking to solve these issues.




I have been watching it since the very beginning. When everyone else was worshiping it as some kind of Savior from the bankers I saw it as their ultimate weapon being unleashed on humanity.


Given what I've seen from your posting history, I'm surprised. This has made weird and odd folks very wealthy. Those that had some foresight and who came from very humble roots can now be financially secure. What it has become and is becoming now, well that's different. The Bitcoin ship has sailed and is out of most folks grip by now. However, there are still opportunities.

Bitcoin won't stay on top forever.




I really do believe that digital currency will be the financial system of the beast and we will have to have a mark if we want to buy and sell in the system. Bitcoin has always been my enemy (check my ATS commentary history for proof of that). I know it for what it is. It is the coming machine controlled cashless society that will outcast many.


Cards and smartphones didn't tick those boxes already?





I told you this years ago. I am saying the same now. I bet it looks a bit closer to home now doesn't it?


Since you've been following all this time, you could have had acquired bitcoin from few way back then and been very well off financially. Faucets gave away tons of free bitcoin.

This is going to sound harsh but hear me out. This is the reason for success and failure in life. You yourself could have had an entirely different life now by taking no chance and zero out of pocket risk. Instead, warning of impending doom. Now, I've no idea if your assessment is correct, time will tell. However, crypto won't stop.



posted on Nov, 27 2017 @ 06:21 PM
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a reply to: Revolution9

well stated ...my brother......proud to be associated with ya




posted on Nov, 27 2017 @ 06:47 PM
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I built a miner in 2012 which used 3 crossfired AMD 7990's. It cost about $4k.
By participating in a mining pool (BitMinter), it made enough to pay for the machine in 6 months.
After that, the difficulty index went up so much that the power it used made it obsolete quickly as a miner.
What a game machine it is now , though

edit on 27-11-2017 by charlyv because: spelling , where caught



posted on Nov, 27 2017 @ 07:14 PM
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bitcoin as a store of wealth?

otherwise being bullish just ins't going to work anymore if the price keeps climbing. Bitcoin needs volatility.



posted on Nov, 27 2017 @ 07:30 PM
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a reply to: Revolution9

after all is said and done. The only reason we don't have free clean energy is because of the bankers in the first place.

Hopefully their arrests come soon and lock down they have on the oil industry come to an end.



posted on Nov, 27 2017 @ 08:04 PM
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originally posted by: booyakasha
The only reason we don't have free clean energy is because of the bankers in the first place.


Does magic pay for the infrastructure upkeep on free stuff?

Explain in detail how free clean energy works in your utopia.



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