It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....
The Second Purpose of Mining
In addition to lining the pockets of miners, mining serves a second and vital purpose: It is the only way to release new cryptocurrency into circulation. In other words, miners are basically "minting" currency. For example, in February of 2019, there were a little over 17.5 million Bitcoin in circulation. Aside from the coins minted via the genesis block (the very first block created by Bitcoin founder Satoshi Nakamoto himself), every single one of those Bitcoin came into being because of miners. In the absence of miners, Bitcoin would still exist and be usable, but there would never be any additional Bitcoin. There will come a time when Bitcoin mining ends; per the Bitcoin Protocol, the number of Bitcoin will be capped at 21 million.
Oh that one place that most people dont live near?
I guess I was wrong
Listen bitcoin is a fad; blockchain maybe the future but bitcoin isn't part of that future.
It's a nice place to park some money while people still buy into the fad but it's not the next currency.
If it was you wouldn't need to push it so hard.
Bitcoin is a fiat, though it is a decentralized fiat with limited supply.
I base it on the fact that I live in one of the capitals of the world and no one on the street is talking about let alone using bitcoin. That's all the data one needs.
originally posted by: Zanti Misfit
a reply to: projectvxn
CASH Is KING . Always Will Be Unless the Globalist Conquer the World . ANY Electronic Currency can be Covertly Manipulated , but the Bank Notes in your Pocket are Completely Under YOUR Control ........
Well bank of america recently won a patent for storing cryptocurrency so it might become more mainstream but the banks will get their cut.
There goes the appeal..
originally posted by: projectvxn
a reply to: DanDanDat
I base it on the fact that I live in one of the capitals of the world and no one on the street is talking about let alone using bitcoin. That's all the data one needs.
That's called a personal anecdote.
Take a look at the Related Threads section I added to the op.