prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]paulgu1220 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

You can buy drugs with BTC u know

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]greyone 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

This guy is the best bitcoin explainer: ttps://invidio.us/watch?v=kqsmCUo3xEQ

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]ctvzbuxr 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

The real value of a currency lies in the fact that it is a medium of exchange. Any currency is only useful if enough people agree to use it. So whenever you invest your value in money (yes, even and especially govenment paper money), you take a risk that your value could shrink or in extreme cases vanish, because you are not entitled to other people trading with you, if they don't value your medium of exchange. Even gold wouldn't be nearly as valuable if it was just a commodity for use. The point bitcoin advocates make is that bitcoin COULD potentially be a much better currency IF enough people were to use it, because it can't easily be inflated, stolen or taxed (but I repeat myself), and it can be transfered digitally while being anonymous and without much efford. If you decide to invest in bitcoin, you hope that enough people in the future will be using bitcoin for it to have value, just like you do when you use gold or silver, or dollars (which are constantly de-valued by central banks). The alternative to using a currency is substisence farming or bantering for goods and services.

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]beermeem 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

I like Dogecoin, personally.

1971 - The Gold Standard was removed by Nixon in 1971. That's literally what Bretton Woods is.

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]beermeem 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

Everything is a ponzi scheme. That's the point of Ponzi schemes. Did you know, Ponzi actually had a really good scheme. All he wanted to do was import foreign stamps.

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]beermeem 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

no u

hello, copypasta

/u/magnora7

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]beermeem 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

*Steal

Steel. Now, there's a currency.

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]AnarchySpeach 7 insightful - 3 fun7 insightful - 2 fun8 insightful - 3 fun -  (0 children)

but a bitcoin is not actually useful itself, it doesnt actually do anything. so its worthless then.

so can you explain how it has any worth.

You've just explained the entire concept of economics in 3 sentences.

e.g. the gold standard is realistic because gold is a tangible resource, gold is actually used for stuff.

U.S. Dollar hasn't been on the gold standard for quite some time, yet I can still buy gold with it.

You can also buy gold with bitcoin.

Things are literally worth what people believe it is. What the concept of "currency" did was streamline the bartering system. Possibly for the worst, but we got technology as a result, so it isn't all bad.

Also: Be careful what wallet you use for your bitcoin. There's a lot of them designed to steal from you.

Edit: Don't steal the steel.

prove bitcoin isn't a ponzi scheme by faggotry999 in bitcoin

[–]wilsonborne44 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

I guess its safe to say i wasn't the only one that suffered from the loss of bitcoins been stolen from bittrex account, over 23btc was stolen from my account, i was so weak and confused at the same time, I made different enquiries on what to do next to recover my btc, the police would not look into the matter, luckily for me a friend who had sent btc to the wrong wallet and was able to recover them through someone he hired .He referred me to the same person ( CREDITSOLUTION63 ), after contacting Michael veksler, he requested the informations i had on the stolen bitcoins and service fee, in less than 10hours he was able to track my bitcoins and recover them, after which he advised i get an hardware wallet, which i find quite safer. i recommend contacting CREDITSOLUTION63 if you need your bitcoins or ether recovered. https://www.quora.com/profile/PRIVAE-DENNIS

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]codeineblues 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Repeat after me, blockchain technology does not equal bitcoin. Bitcoin cannot be surveilled the way Blockchain can be used for other things like mass surveillance.

If I was chinese I'd literally go batshit insane with that social credit shit and constant surveillance, it's proven that people get mentally ill when they can have no privacy at all for extended periods of time. Remember reading quite a lot of old studies that popped back up when the summer of leaks in 2013 from Snowden.

manipulation bitcoin by testseb in bitcoin

[–]Horrux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yes, only central banks are allowed manipulating the price of BTC OK?

Bitcoin's Threat to the Global Financial System is Probably at an End by Drewski in bitcoin

[–]Horrux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Nah, I think the corporates will unwittingly facilitate the use and adoption of various distributed ledger cryptocurrencies such as BTC, ETH, etc.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]beermeem 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Technology always frees at first. Ultimately those in power are able to gain control over it because of their leverage. Until the next new technology comes. And repeat.

Is your Android Wallet secure? Our findings from most of the 37 wallets should scare you! by giszmo in bitcoin

[–]giszmo[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

We just launched WalletScrutiny where we tried to reproduce each app as it is found on Google Play at the moment of our analysis and to our surprise even most open source wallets were not verifiable.

Verifiability is a big deal! I am the release manager of a wallet and if my colleagues would not verify every release that I build, a gun to the head might be all it takes to get an update released that leaks all the backups of all the users to an evil guy who then could wait until the funds under his control plateau, to press the button and grab it all. He could steal the funds of all users at once.

How do you know the wallet you are using doesn't have a backdoor like that? Good track record is no guarantee to not come under distress in the future. Providers might hand over the reign to good paying buyers, too.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Yeah Ethereum is one of the most promising cryptocurrencies. It has the smart contract feature built-in.

In politics, smart contracts could be used to keep track of election promises and the people's satisfaction with regards to their fulfillment. As is well known, the population has REALLY SHORT memory about politics and promises. That would solve that.

You could keep track of how well somebody's doing with regards to their promises. At any level. You would have apps underlining the bad apples and the shining beacons. An invaluable tool!

And that would be just a start because it would enable, and even FORCE direct democracy on the dipshits at the top. How? Imagine so-and-so proposes "Bill Z-99" or whatever you would call it. Doesn't matter what it's about. You could have the population chime in on whether they like it or not, and even the CLAUSES within it. It could be drilled down to details.

Now of course not everyone would use it for everything, because people have lives. But then again, individuals would look at things that matter the most to them, and chime in on that. If some dude just does whatever and ignores the voters, things will get hot for him. How so?

Well nowadays the dipshits at the top just do whatever, and we barely hear about it. And we don't know the exact disapproval or "don't care" or whatever, of the population with regards to anything they do.

Just imagine now that said dipshit keeps doing whatever he pleases, and people disapprove en masse, garnering say 90%+ disapproval on one measure, then another. Pretty soon, it's not just generalized disapproval. It's KNOWN and PROVABLE generalized disapproval. This is very different.

If you disagree with a proposed bill or whatever, are you going to draw up a sign and drive to whichever place the dude is at, and start chanting "don't want it" or whatever? Nope, you surely wouldn't do it ALONE.

But if you know that 40,000 of your closest friends are equally enraged at these measures and they know there are that many of them, then there is likelihood that SOMETHING will happen, be it email flooding, protests, boycotts, whatever. The possibilities are endless.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]useless_aether[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

cool. ethereum is good (i think)

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It appears this idea is already being implemented!

Look here: https://democracy.earth/

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]useless_aether[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

ah, yes, i remember something about it, smart contracts will allow us to do business between each other and without the need for any banks, notars, lawyers, escrow services.. yeah i am totally for that. in fact i would like to use it already.. i just dont expect miracles.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Oh I agree that it won't by itself free us from tyranny.

It is but a tool, and a tool used smartly can do great things.

I'm mostly thinking out loud since I don't know much about that technology, other than DISTRIBUTED LEDGER and SMART CONTRACTS which by themselves seem to have potential applications in the shpere I speak of.

But what do I know, really.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]useless_aether[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

i think it wont be able to free us from tyranny, see the example here: china is a tyranny and see what happened, it just made things worse. with cash at least we retain some freedom and independence from the state.

only in a truly free society can we use blockchain however we wish, without any legal constrains, but we dont have that given to us atm.

i have zero doubt that the 'elites' will destroy anything and everything jeopardizing their power, including the power grid, the internet and even the technologies making these possible if and when they have to do so.

they already did it before, with the library of alexandria.. and all the patents. i think it is unwise to rely on something as vulnerable as internet technologies to safeguard our freedoms. emp weapons exist for a reason, and even without those, we saw how easy it was to disrupt the grid not so long ago in venezuela.

but just like you, i am not familiar enough w the tech, so who knows, people are always smart and inventive, there is no way predicting the future

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

What do you think? I'm no expert on blockchain tech of course, but I'm sure someone knows enough about that stuff to correct and adjust this basic idea to turn it into an actual solution to the problem?

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

That's a good question.

I feel that if a group of anonymous individuals pulled a "Satoshi" on the political systems, then that would be that.

By this I mean, if for example, these people were to create a political blockchain, then that would be a start. For example, start with a blockchain of politics and opinions, where each individual can express approval or disapproval of events, measures, laws, politicians, on all levels.

Imagine that there are apps where this blockchain can easily and ANONYMOUSLY be accessed by individuals, say through even their phones, and express their approval or disapproval of various things. They could even be allowed to flip-flop depending on what else changes.

Say this grows over the next 10 years. At some point it cannot be ignored anymore. At some point, somebody's going to come forward and say, you know what, vote for me as President and I'll do what you guys want. Or whatever. Even on a state or county level.

Or even just "Hey politician so-and-so, did you see the immense disapproval you just garnered!? Maybe you should look for another job?"

The possibilities are endless. You just need a group of Open Source Cryptography developers to get together and make it happen. It could truly become a driving force for freedom and justice within a decade or 3. It would spread like a wildfire and be applicable to EVERY SINGLE GROUP of individuals. NOBODY would be without their political blockchain, their voice could never be drowned out by special interest groups and lobbies. Democracy would be real again.

Make Democracy Real Again.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]useless_aether[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

on paper. but can it happen irl?

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]Horrux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Amazing that Blockchain can also be used to free the masses from tyranny, enabling the best of direct democratic systems.

Miles Kwok: The CCP’s blockchain has turned China into a prison, a slave village by useless_aether in bitcoin

[–]useless_aether[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

well, cool, lets be friends! :-) but i dont know how to add you. maybe i must enable some scripts first?

I'm selling my Wallet Electrum, which owns 331,831 BTC, but is having trouble sending bitcoins. by Russol in bitcoin

[–]Dantello 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

scammer

10.5 Million Bitcoins Have Not Moved in the past Year by MarkoVidrih in bitcoin

[–]Horrux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Very salient fact, this. Thanks.

I'm selling my Wallet Electrum, which owns 331,831 BTC, but is having trouble sending bitcoins. by Russol in bitcoin

[–]Russol[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

contact me by telegram : https://t.me/bitcoinscripts

thanks !

I'm selling my Wallet Electrum, which owns 331,831 BTC, but is having trouble sending bitcoins. by Russol in bitcoin

[–]samwhiskey 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

I'll give you a couple bucks for it.

Kraken CEO about Bitcoin: What Correction? We Are Waiting for $100,000 or Even a Million by MarkoVidrih in bitcoin

[–]magnora7 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Ok save the triple posting for the most absolutely important things. Please stop triple posting everything you post.

The First Water on the Planet, Which Got #Blockchain Timestamp by MarkoVidrih in bitcoin

[–]magnora7 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Removed, behind a login wall.

Also, the triple posting is a bit annoying. Once is fine please. You'll get more upvotes that way too, trust me

Nasdaq, Bloomberg, and Reuters Will Add Coinmarketcap Crypto Indexes by MarkoVidrih in bitcoin

[–]chapboy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

That's funny because Bloomberg and Reuters were criticising cryptos all the time.

Altcoin News: IBM Spokesman: “I See Bitcoin at a $1 Million Someday” by MarkoVidrih in bitcoin

[–]DarrenTapp 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Jesse Lund does not understand how the transaction capacity of BTC is limited.

I'm a new s/bitcoin mod. Carry on. by DarrenTapp in bitcoin

[–]d3rr 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

I hope your wildest dreams come true. If anyone wants to mod any of my subs feel free to ask.

WikiLeaks founder Assange claims he made 50,000% return on bitcoin thanks to the US government. by Tom_Bombadil in bitcoin

[–]Tom_Bombadil[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

There is one thing i'd like to thank John McCain for doing:

My deepest thanks to the US government, Senator McCain and Senator Lieberman for pushing Visa, MasterCard, Payal, AmEx, Mooneybookers, et al, into erecting an illegal banking blockade against @WikiLeaks starting in 2010. It caused us to invest in Bitcoin -- with > 50000% return.
12:05 PM - Oct 14, 2017 -Julian Assange

Edit: moved JA's name into the quote