Is bitcoin building the matrix?

originally posted by: norhoc
a reply to: thefourthjokerscard


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

Keep dreaming bud.

Those with insight will continue making gains. The free market has spoken and it wants bitcoin!

originally posted by: Guyfriday
If you really want to scratch your head over this:

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.

Valid point. I dont think adoption was expected though so i think that was a simple unintended consequence. Sure is another benefit for an additional group though!

It has surely caused certain hardware development accelerate which is a positive all around for devices.

I don't know about bitcoin itself, or any involvement with a matrix.. but I do think block-chains could be a really influential approach in many different arenas.

I think a lot of people would be well served to keep an eye on it, both those who are solely interested in bitcoin and those who feel the currency is a passing fad.

No, not in my opinion. However they may be building a bubble to intentionally collapse so they can call it a fraud.


Still havn't settled on the tech yet, still way too ignorant. Blockchain is here to stay and it is the future. Regardless of the value of BTC.

originally posted by: ignorant_ape

it amazes me that idiots that denounce " fiat currencies " think that bitcoin is actually worth something

It is. Banks don't own it. Gubments can't tax it , transactions don't have fees attached.

Thats why its vulnerable too.. All the big financial institutions don't have control. The less people trust banks the more they want to switch to crypto currencies, the more big banks want it gone.

Has value, On the internet. Only.

originally posted by: GBP/JPY
a reply to: intrptr

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

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

Or put in your pocket.

originally posted by: Abysha

originally posted by: intrptr
a reply to: Abysha

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.

"No inherent value" to "not so much". Thats an improvement.

Think about this. If you take your 'currency' to a remote village in darkest nowhere, they may or may not recognize it. If you take a bit of gold, they do.

This why i they call it intrinsic, it has the same value anywhere they exchange for goods or services. Fiat currency, not as much.

a reply to: Cauliflower


such as shodan.io
and or information gathers such as maltego or maltegoce which use this shodan.io as a palett

1. The Matrix as film based on fantasy. It's not real.
2. The value of Bitcoin is just down to speculation. Speculation based on greed. Just like any currency, it has value above the base value of that currency. The only difference is that a Bitcoin is based on nothing. Apart from speculation it is valueless. People buying Bitcoins are gambling that people more gullible than them will demand them, thus increasing their value. There will come a time when there are no more gullible people left and lots of people will discover that they have wasted their (real) money. Other than that, a few people are getting rich.

OOPS

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

I GUESS THE STOCK MARKET ARE ALL IDOTS THEN.... I WASNT THE ONE WHO DECITED IT HAD OR HAS VALUE...

WHAT MAKES IT SO VALUEABLE? WE JUST DECITED THAT MATH, WHICH IS WHAT WERE MINING FOR HAS A VALUE??? GOLD IS SOMETHING U CAN HOLD IN YOUR HAND...

originally posted by: Abysha
a reply to: thefourthjokerscard

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.

originally posted by: intrptr

originally posted by: ignorant_ape

it amazes me that idiots that denounce " fiat currencies " think that bitcoin is actually worth something

It is. Banks don't own it. Gubments can't tax it , transactions don't have fees attached.

Thats why its vulnerable too.. All the big financial institutions don't have control. The less people trust banks the more they want to switch to crypto currencies, the more big banks want it gone.

Has value, On the internet. Only.

Governments do tax it and it does have transaction fees.

I know for a fact that Dorian Satoshi was on government payroll while working on btc.

Also know for a fact the only purpose it has is for the DEA to launder money from the seized drugs they sell online.

The investment/exchange angle is a complete contrivance. 110% manipulated

originally posted by: thefourthjokerscard
My question isnt of its value and how it is resouresourceful, more like what is this math doing?

It's using equations to solve encrypted blocks on the blockchain. This 'finds' and releases bitcoins.

Bitcoin worth is based on supply and demand. There's a set total ammount of coins and the equations are increasingly complex as the number of discovered coins tends to (i.e gets closer to) the total amount of coins.

Demand has soared exponentially as faith and need for a tax/regulation/bank free system has arisen with traditional financial collapses and rationing of paper money in many nations - while supply of 'new' coins decreases exponentially with the amount of processing power required. This causes the worth of each coin to sky rocket.

It's basic economics mixed with brilliant encryption/decryption mathematics - there's no 'matrix' or anything that exists apart from a blockchain.

originally posted by: ScepticScot

originally posted by: intrptr

originally posted by: ignorant_ape

it amazes me that idiots that denounce " fiat currencies " think that bitcoin is actually worth something

It is. Banks don't own it. Gubments can't tax it , transactions don't have fees attached.

Thats why its vulnerable too.. All the big financial institutions don't have control. The less people trust banks the more they want to switch to crypto currencies, the more big banks want it gone.

Has value, On the internet. Only.

Governments do tax it and it does have transaction fees.

"Some" governments? Which ones? Banks don't charge for bit coin transfers. Poor things, its not their currency.

a reply to: SouthernForkway26

Excellent response, among a couple of others.

People really should read more about it rather than just denounce it as a fraud, bubble, etc etc. If they really want to know more just check out some of the videos on YouTube by Andreas Antonopoulos. He does an excellent job of explaining fiat vs bitcoin/Blockchain - and more importantly why Blockchain is here to stay.

a reply to: youcanttellthepeople

To complement that idea, here is a pretty informative, albeit lengthy, white paper from Ethereum.

Its really some pretty fascinating stuff.

I've always been of the opinion that Bitcoin is actually being used for something else.

The world is changing pretty rapidly.

a reply to: bastion

Demand has soared exponentially as faith and need for a tax/regulation/bank free system has arisen with traditional financial collapses and rationing of paper money in many nations

lol