How do you give Bitcoin to a homeless person begging for help on the street and what does Bitcoin mean to someone who thinks they've escaped the matrix living off the grid? A virtual cashless society is just a stupid and dangerous idea.
Call me old fashioned but I prefer the money system set up by the Constitution Article I Section 10 Clause 1 "No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts;..."
Bitcoin and Crypto are not Constitutional in any shape or form and have not been made Constitutional by a valid Amendment. Every time our property has been stolen from us it has been through and Unconstitutional method-think Federal Reserve which is not federal and has no reserves.
The US Military is charged with protecting the Constitution, not some Unconstitutional scheme based upon nothing substantial that you can hold in your hand such as all forms of current crypto. So don't be dreaming of bitcoin as the military's way of putting substance back into our financial system. It's more likely that bitcoin is CIA based than that bitcoin has any U.S. military backing.
Lastly, where is the discussion about NESARA/GESARA? If the writers of this article know anything about potential finance solutions they will know of these.
And of course there’s the whole “not your keys, not your coin” dilemma.
I learned an enormous amount from my year long (failed) dalliance with Coinbase, which eventually convinced me that we’re still too early in Bitcoin’s life to make it a viable option for most small buyers, mainly because of
1. the intrinsic lack of security of the myriad of wallets out there, many of which are fraudulent;
2. the intrinsic weaknesses of the various platforms both custodial and non custodial which make it impossible for consumers to understand how much they are actually paying, and who actually owns their coins (NYKNYC - see above),
3. the severe lack of any oversight over the platforms (yes yes oversight means centralization, I get it!)
And don’t even get me started on Coinbase (lousy customer service, opaque prices, dubious security etc etc).
So yeah I’m not going to be going to Bitcoin anytime soon. And I agree with what I think you said ie crypto other than Bitcoin is pretty much a guaranteed scam.
The fundamental problem with crypto is that the establishment *has essentially total control over it* not just via fiat on-and off-ramps like Coinbase but via their secret ownership and control over tether, which was used as an unregulated central bank to print tens of billions of unbacked "tethers" out of the air in order to inflate the crypto space, attract lots of attention and speculation, and then serve as a real-world test case for blockchain before the governments rolled out their CBDCs. Keep in mind tether daily trading volume has essentially always exceeded the daily trading volume of every other top 10 coin *combined*. The obviousness of the tether fraud has been known since 2017 (https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/ , https://www.kalzumeus.com/2022/11/11/tether-required-recapitalization-again/ ) ; the fact that it has continued for so long, to such a historically unprecedented degree, without being taken down can only mean that it has NSA or CIA protection.
The promise of Bitcoin is hard enough to understand all by itself. Add to it the disinformation of the 21,000 crypto currencies and you have confused articles like this one. There is a reason why we focus on Bitcoin -- EVERYTHING ELSE is a shitcoin. Period.
I compare the Bitcoin journey to being a Q anon. Focus on the drops. Read them for yourself. Because 99% of what other people say about them is noise, whether benevolent or belligerent.
Personally, I'm convinced that Bitcoin is the life preserver thrown to us by the military. Nothing else makes sense.
You forgot the most important attribute of hard currency: anonymity.
Currency’s six key attributes are scarcity, divisibility, acceptability, portability, durability, and uniformity, or resistance to counterfeiting.
My essays are currently free to read and it is still free to subscribe. As with all my essays I include numerous links to articles and videos. To truly assimilate the topics, that I write about, it is very important to read and watch the content included with each essay. If you haven't the time for the entire essay please watch these two embedded videos: "This Pivitol Moment (on Vaccine Passports) and "The Shadow State" (on ESG's).
Manchurian Candidate Biden announces 2024 Presidential Run while Tucker Carlson is fired from FOX News
Preparing that table for another Globalist Election Coup in 2024
Dating myself here, but I remember in the old days asking my dad for a quarter so I could walk up to the corner store and buy a coke. In a cashless society, that would no longer be possible.
Really good information, especially for me, I don’t know much about these emerging digital markets. I’ll be sure to save this for future reference. It appears as if we’re going digital, like it or not.
To answer your question, Margot (sorry I called you Margaret previously), I think it helps to realize that many of the words people use in the Bitcoin community are metaphors. The word "mining" is meant to portray an analogy between "mining for" Bitcoin and "mining for" gold. But it's only an analogy.
Bitcoin "miners" are actually powerful computers that run programs to solve math problems that were set up by Bitcoin's creator. When the math problem is solved -- by the fastest computer -- the person who owns that computer earns new Bitcoin, say 1 BTC.
Note that we are talking about software. The mining, the math problem, and the Bitcoin are all part of a computer program originally written and published by someone named Satoshi Nakamoto. Everything related to Bitcoin is software. The only "physical" components of Bitcoin are the computers that run the software and the electricity they require.
How does the miner know they earned 1 BTC? The software includes a database, and the miner has an account in that database. The Bitcoin software adds 1 BTC to their account. This is the only way new Bitcoin ever comes into existence, and after the year 2140, once 21 million BTC have been mined, there will never be more Bitcoin created -- because that's how the computer program was written by Satoshi.
How can the miner feel that their account showing the new Bitcoin is safe? Because there are tens of thousands of computers around the world that are running the same computer program and have the same database of accounts. An entire country could sink into the ocean and thousands of remaining computers still show the miner's account has 1 BTC.
Could someone "log in" to the Bitcoin network and type a zero into that miner's account? They would have to access thousands of computers, and require even more electricity, and overwrite the existing computer program with a new one. Virtually impossible.
Suggest you look into Qortal and see what is happening there. Recently here on the Corbett Report (https://www.corbettreport.com/solutionswatch-communication/) as well as a white paper to peruse at https://qortal.org/. No KYC, all in your own wallet only you hold the key, not pre-mined all you need is a sponsor to get started and can mint on a Raspberry Pi! Check it out!
I must confess that I still don't understand anything about this subject, far too virtual and non-concrete for my taste...
That's why I still prefer to handle a currency even if it's imperfect if it remains tangible.
I probably am not the only one, even among people who have a good technical and high-tech culture!
May God help us and bless us ! 🙏🏻✝️
🇫🇷 🕊️ 🇺🇲
How do you give Bitcoin to a homeless person begging for help on the street and what does Bitcoin mean to someone who thinks they've escaped the matrix living off the grid? A virtual cashless society is just a stupid and dangerous idea.
Call me old fashioned but I prefer the money system set up by the Constitution Article I Section 10 Clause 1 "No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts;..."
Bitcoin and Crypto are not Constitutional in any shape or form and have not been made Constitutional by a valid Amendment. Every time our property has been stolen from us it has been through and Unconstitutional method-think Federal Reserve which is not federal and has no reserves.
The US Military is charged with protecting the Constitution, not some Unconstitutional scheme based upon nothing substantial that you can hold in your hand such as all forms of current crypto. So don't be dreaming of bitcoin as the military's way of putting substance back into our financial system. It's more likely that bitcoin is CIA based than that bitcoin has any U.S. military backing.
Lastly, where is the discussion about NESARA/GESARA? If the writers of this article know anything about potential finance solutions they will know of these.
Good read thank you.
And of course there’s the whole “not your keys, not your coin” dilemma.
I learned an enormous amount from my year long (failed) dalliance with Coinbase, which eventually convinced me that we’re still too early in Bitcoin’s life to make it a viable option for most small buyers, mainly because of
1. the intrinsic lack of security of the myriad of wallets out there, many of which are fraudulent;
2. the intrinsic weaknesses of the various platforms both custodial and non custodial which make it impossible for consumers to understand how much they are actually paying, and who actually owns their coins (NYKNYC - see above),
3. the severe lack of any oversight over the platforms (yes yes oversight means centralization, I get it!)
And don’t even get me started on Coinbase (lousy customer service, opaque prices, dubious security etc etc).
So yeah I’m not going to be going to Bitcoin anytime soon. And I agree with what I think you said ie crypto other than Bitcoin is pretty much a guaranteed scam.
Look forward to learning/reading more!
The fundamental problem with crypto is that the establishment *has essentially total control over it* not just via fiat on-and off-ramps like Coinbase but via their secret ownership and control over tether, which was used as an unregulated central bank to print tens of billions of unbacked "tethers" out of the air in order to inflate the crypto space, attract lots of attention and speculation, and then serve as a real-world test case for blockchain before the governments rolled out their CBDCs. Keep in mind tether daily trading volume has essentially always exceeded the daily trading volume of every other top 10 coin *combined*. The obviousness of the tether fraud has been known since 2017 (https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/ , https://www.kalzumeus.com/2022/11/11/tether-required-recapitalization-again/ ) ; the fact that it has continued for so long, to such a historically unprecedented degree, without being taken down can only mean that it has NSA or CIA protection.
The promise of Bitcoin is hard enough to understand all by itself. Add to it the disinformation of the 21,000 crypto currencies and you have confused articles like this one. There is a reason why we focus on Bitcoin -- EVERYTHING ELSE is a shitcoin. Period.
I compare the Bitcoin journey to being a Q anon. Focus on the drops. Read them for yourself. Because 99% of what other people say about them is noise, whether benevolent or belligerent.
Personally, I'm convinced that Bitcoin is the life preserver thrown to us by the military. Nothing else makes sense.
You forgot the most important attribute of hard currency: anonymity.
Currency’s six key attributes are scarcity, divisibility, acceptability, portability, durability, and uniformity, or resistance to counterfeiting.
My essays are currently free to read and it is still free to subscribe. As with all my essays I include numerous links to articles and videos. To truly assimilate the topics, that I write about, it is very important to read and watch the content included with each essay. If you haven't the time for the entire essay please watch these two embedded videos: "This Pivitol Moment (on Vaccine Passports) and "The Shadow State" (on ESG's).
Manchurian Candidate Biden announces 2024 Presidential Run while Tucker Carlson is fired from FOX News
Preparing that table for another Globalist Election Coup in 2024
https://brucecain.substack.com/p/manchurian-candidate-biden-announces
Dating myself here, but I remember in the old days asking my dad for a quarter so I could walk up to the corner store and buy a coke. In a cashless society, that would no longer be possible.
Really good information, especially for me, I don’t know much about these emerging digital markets. I’ll be sure to save this for future reference. It appears as if we’re going digital, like it or not.
To answer your question, Margot (sorry I called you Margaret previously), I think it helps to realize that many of the words people use in the Bitcoin community are metaphors. The word "mining" is meant to portray an analogy between "mining for" Bitcoin and "mining for" gold. But it's only an analogy.
Bitcoin "miners" are actually powerful computers that run programs to solve math problems that were set up by Bitcoin's creator. When the math problem is solved -- by the fastest computer -- the person who owns that computer earns new Bitcoin, say 1 BTC.
Note that we are talking about software. The mining, the math problem, and the Bitcoin are all part of a computer program originally written and published by someone named Satoshi Nakamoto. Everything related to Bitcoin is software. The only "physical" components of Bitcoin are the computers that run the software and the electricity they require.
How does the miner know they earned 1 BTC? The software includes a database, and the miner has an account in that database. The Bitcoin software adds 1 BTC to their account. This is the only way new Bitcoin ever comes into existence, and after the year 2140, once 21 million BTC have been mined, there will never be more Bitcoin created -- because that's how the computer program was written by Satoshi.
How can the miner feel that their account showing the new Bitcoin is safe? Because there are tens of thousands of computers around the world that are running the same computer program and have the same database of accounts. An entire country could sink into the ocean and thousands of remaining computers still show the miner's account has 1 BTC.
Could someone "log in" to the Bitcoin network and type a zero into that miner's account? They would have to access thousands of computers, and require even more electricity, and overwrite the existing computer program with a new one. Virtually impossible.
Does that help?
I like Bitcoin.
Suggest you look into Qortal and see what is happening there. Recently here on the Corbett Report (https://www.corbettreport.com/solutionswatch-communication/) as well as a white paper to peruse at https://qortal.org/. No KYC, all in your own wallet only you hold the key, not pre-mined all you need is a sponsor to get started and can mint on a Raspberry Pi! Check it out!