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BITCOIN IS BACK, BUY NOW BEFORE ITS TOO LATE

 
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Clifford
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PostPosted: Thu Apr 23, 2020 8:36 am    Post subject: BITCOIN IS BACK, BUY NOW BEFORE ITS TOO LATE Reply with quote


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Dark Byte
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PostPosted: Thu Apr 23, 2020 11:56 am    Post subject: Reply with quote

still too expensive

secret tip. If you buy bitcoin use as address 1CheaterHZ92cno1YZuh5cvfDLZ6sHsJYd
it's a backdoor in the bitcoin network which then lets you use Cheat Engine on your wallet

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checkemdubs
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PostPosted: Thu Apr 23, 2020 12:33 pm    Post subject: Reply with quote

all crypto currency is worthless the moment mining is not viable anymore

no mining == no transactions

it a huge ponzi scheme

who wants to hold imaginary gold LMFAO

I buy real gold

I pray a solar flare wipes out our internet, there goes ur bitcoin

I support the GOLD BACKED SOCIETY
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eheu
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PostPosted: Thu Apr 23, 2020 3:02 pm    Post subject: Reply with quote

Dark Byte wrote:
still too expensive

secret tip. If you buy bitcoin use as address 1CheaterHZ92cno1YZuh5cvfDLZ6sHsJYd
it's a backdoor in the bitcoin network which then lets you use Cheat Engine on your wallet
nice vanity address tho
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pedofaggot
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PostPosted: Sat Apr 25, 2020 10:43 pm    Post subject: Reply with quote

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Pastel Baphomet
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PostPosted: Mon May 11, 2020 5:12 pm    Post subject: Reply with quote

aussieBoy wrote:
all crypto currency is worthless the moment mining is not viable anymore

no mining == no transactions

it a huge ponzi scheme

who wants to hold imaginary gold LMFAO

I buy real gold

I pray a solar flare wipes out our internet, there goes ur bitcoin

I support the GOLD BACKED SOCIETY


Mining is still plenty viable; Bitcoin takes gold’s benefits a step further, though, by being digital. The Bitcoin supply is not only incapable of being arbitrarily manipulated, it also eliminates the need for paper substitutes by being totally weightless and virtually costless to store. With gold being so heavy and taking up so much physical space, people under a gold standard tend to prefer paper substitutes for gold rather than carrying actual coins on their persons. This practice leaves gold in the bank, forcing people to trust the bank to handle their gold responsibly. Thus, even under a strict gold standard, banks can still betray their patrons’ trust and create new deposits and issue fiduciary media. Bitcoin’s digital nature eliminates this problem; since it costs almost nothing to store, and it takes up zero extra space, Bitcoin can be carried on one’s person with no extra burden. No more paper substitutes are needed, and banks no longer have an opportunity to create money from thin air.

Although Bitcoin’s fixed supply means that miners will eventually have to give up their block rewards, it also creates an opportunity for miners to survive on transaction fees through simple monetary theory. Once all 21 million bitcoins have been mined, the supply cannot increase — regardless of growing demand. The result of this discrepancy between the supply of and demand for money is a steady and gradual decrease in the general price level, which equates to an equally steady and gradual increase in the purchasing power of money. Therefore, as Bitcoin miners collect transaction fees over time, no matter how large or minute, the funds gain value. This value appreciation across time turns fee-centric mining into a financially infeasible task to a sensible, long-term investment.

To conclude, there are several different ways that Bitcoin mining can remain profitable after the block reward goes away — the above examples are but a few in a myriad of possibilities.. Furthermore, since the block reward gradually diminishes over time, rather than disappearing all at once, miners have the chance to gradually adapt and adjust to relying more on transaction fees than revenue from mined bitcoins. The most likely combination of factors that will keep miners afloat in the future is evolving mining technology and the steady increase in Bitcoin’s purchasing power. However, our visions of the future should not be limited by our imaginations. Being unable to imagine something does not render it impossible; the spontaneous evolving and shifting of the market economy reminds us of this fact every day.

Kind of laughable you would rather trust centralized banking to not fuck you as opposed to trusting BTC. It wouldn't surprise me in the least if they increased the cut for transaction processing to offset the loss.
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checkemdubs
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PostPosted: Mon May 11, 2020 10:30 pm    Post subject: Reply with quote

Pastel Baphomet wrote:
aussieBoy wrote:
all crypto currency is worthless the moment mining is not viable anymore

no mining == no transactions

it a huge ponzi scheme

who wants to hold imaginary gold LMFAO

I buy real gold

I pray a solar flare wipes out our internet, there goes ur bitcoin

I support the GOLD BACKED SOCIETY


Mining is still plenty viable; Bitcoin takes gold’s benefits a step further, though, by being digital. The Bitcoin supply is not only incapable of being arbitrarily manipulated, it also eliminates the need for paper substitutes by being totally weightless and virtually costless to store. With gold being so heavy and taking up so much physical space, people under a gold standard tend to prefer paper substitutes for gold rather than carrying actual coins on their persons. This practice leaves gold in the bank, forcing people to trust the bank to handle their gold responsibly. Thus, even under a strict gold standard, banks can still betray their patrons’ trust and create new deposits and issue fiduciary media. Bitcoin’s digital nature eliminates this problem; since it costs almost nothing to store, and it takes up zero extra space, Bitcoin can be carried on one’s person with no extra burden. No more paper substitutes are needed, and banks no longer have an opportunity to create money from thin air.

Although Bitcoin’s fixed supply means that miners will eventually have to give up their block rewards, it also creates an opportunity for miners to survive on transaction fees through simple monetary theory. Once all 21 million bitcoins have been mined, the supply cannot increase — regardless of growing demand. The result of this discrepancy between the supply of and demand for money is a steady and gradual decrease in the general price level, which equates to an equally steady and gradual increase in the purchasing power of money. Therefore, as Bitcoin miners collect transaction fees over time, no matter how large or minute, the funds gain value. This value appreciation across time turns fee-centric mining into a financially infeasible task to a sensible, long-term investment.

To conclude, there are several different ways that Bitcoin mining can remain profitable after the block reward goes away — the above examples are but a few in a myriad of possibilities.. Furthermore, since the block reward gradually diminishes over time, rather than disappearing all at once, miners have the chance to gradually adapt and adjust to relying more on transaction fees than revenue from mined bitcoins. The most likely combination of factors that will keep miners afloat in the future is evolving mining technology and the steady increase in Bitcoin’s purchasing power. However, our visions of the future should not be limited by our imaginations. Being unable to imagine something does not render it impossible; the spontaneous evolving and shifting of the market economy reminds us of this fact every day.

Kind of laughable you would rather trust centralized banking to not fuck you as opposed to trusting BTC. It wouldn't surprise me in the least if they increased the cut for transaction processing to offset the loss.


and just like that, once the internet is shut off due to war or catastrophe or your country taking control and taking it away even with a VPN; and networks deleted, I’ll have gold and ULL have nothing

bitcoin is a ponzi scheme

mining won’t and is currently not worth it aka no more transactions which will happen sooner rather than later, aka biggest fault of bitcoin other than fixed amount

the amount of electricity and space needed to mine now is not worth fake money that you can’t hold in your hand and trusting technology to have it the next day forever

banks can’t screw you over if u own ur own gold

hint hint, bitcoin is exploitable always has been, why don’t u google it

and don’t put words in my mouth, I never said I trusted centralized banking, I trust the gold standard between citizens

you hold onto your fake money, I’ll just be stock piling gold and you’ll have to suck dick once ur internet is shut off due to terrorism
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Normie4RealLifeJob
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PostPosted: Wed May 13, 2020 9:33 am    Post subject: Reply with quote

Dark Byte wrote:
still too expensive

secret tip. If you buy bitcoin use as address 1CheaterHZ92cno1YZuh5cvfDLZ6sHsJYd
it's a backdoor in the bitcoin network which then lets you use Cheat Engine on your wallet


Omg, if that's a real address that's pretty cool. Might donate some of my stash later

aussieBoy wrote:
all crypto currency is worthless the moment mining is not viable anymore

no mining == no transactions

it a huge ponzi scheme

who wants to hold imaginary gold LMFAO

I buy real gold

I pray a solar flare wipes out our internet, there goes ur bitcoin

I support the GOLD BACKED SOCIETY


No Shrooms, I had this same exact discussion with hundreds of people. A solar flare would wipe out more than just the internet, as its not selective.

Also, mining is still profitable, but it's much more profitable to trade
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checkemdubs
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PostPosted: Wed May 13, 2020 6:44 pm    Post subject: Reply with quote

Normie4RealLifeJob wrote:
Dark Byte wrote:
still too expensive

secret tip. If you buy bitcoin use as address 1CheaterHZ92cno1YZuh5cvfDLZ6sHsJYd
it's a backdoor in the bitcoin network which then lets you use Cheat Engine on your wallet


Omg, if that's a real address that's pretty cool. Might donate some of my stash later

aussieBoy wrote:
all crypto currency is worthless the moment mining is not viable anymore

no mining == no transactions

it a huge ponzi scheme

who wants to hold imaginary gold LMFAO

I buy real gold

I pray a solar flare wipes out our internet, there goes ur bitcoin

I support the GOLD BACKED SOCIETY


No Shrooms, I had this same exact discussion with hundreds of people. A solar flare would wipe out more than just the internet, as its not selective.

Also, mining is still profitable, but it's much more profitable to trade


Yes a solar flare would wipe out bitcoin amongst other things that can wipe out bitcoin without harming our infrastructure

I am not shrooms but he or she can post here

Bitcoin is a Ponzi scheme. It is worthless internet money
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