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GMONEY's avatar

Another banger PIP! BOOOM!

HisGloriousVictory's avatar

I am an admitted novice when it comes to Bitcoin/Crypto.

The concept of the 21 million coin limit to control inflation could align with the idea of the "Shekel" as the means of pricing in the economy the Lord offered His covenant people in Lev.26 - though there the Trust was in the Eternal Trust-worthiness of our Loving Creator.

What has always troubled me is the assurance I hear that Bitcoin will never be centralized and cannot be manipulated; the first which no one can actual guarantee, the other which, though technically true does not mesh with common understanding of the concept of manipulation.

For example: What do we call the 231 cases of stolen Bitcoin (nearly untraceable) totaling $1.7 billion dollars in 2023 (that's over $7 million per hack) and the fact that more than 80% of the hacks are from individual's wallets. Put another way - with a price of $60,000 per coin and roughly 19.6 million coins minted, the total market value of the coins is $1.176 trillion US dollar - meaning more than 10% of the market value was hacked/stolen. And a complete aside - our current debt is 34 trillion clams (cuz' dollars mean nothing) and our GDP is roughly 25 trillion. Which would mean the implications for conversion could create significant hoarding and immeasurable disparity - and that's just here. Sorry - but all of that smacks of the GESARA/NESARA nonsense. (Hope I did not offend anyone.)

I will gladly do my own research, but if you can help me understand how a "trust-less" solution is superior by sending me to a good resource I would appreciate it.

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