Coin mining

[DearthnVader]

Blockchain is a completely ligament tech, I too, when I first heard of Bitcoin thought it was a sort of a scam, I called it bitcon.

I remember when it was worth about $1 or so per BTC, then there was a huge crash, and I said," BitCon is done!", I could have bought BTC for 100th/s of a penny, but no, I was so sure it was a con.

The trouble with BitCoin is it is a deflationary currency, as apposed to Bank money that is lent into existence. By lending money into existence, the supply of money can meet the demand for loans, and when there is a lot of lending, there is some inflation with that.

So when you borrow bank money, most of the time you pay it back with inflated money, however if you borrowed 1000 BTC five years ago, you'd be paying it back with a greatly deflated currency. I.E. you are paying back way more than you borrowed.

Bank money does come with interest attached, so you will be paying back more than you borrowed, but it's a matter of scale.

The other thing about bank money is, it is lent into existence, it is the debt that creates it, and when the principle is repaid, it also goes out of existence. This keeps inflation very low, so long as most people are repaying their bank loans.

It's debt based money, and there is never more of it, than there is the debt that created it.

Believe me you would rather borrow $150,000 for 30 years @5% APR than borrow 1000 BTC @0.00% APR for 30 years.

This limits the real world market for lending BTC, you'd have to attach a negative interest rate to get anyone that wasn't a fool to borrow BTC.

Ether, as it stands, is a deflationary currency, however they will be moving from mining( Proof of work ) to Proof of Stake, and I'm not completely sure how that works, but I think, it's really just loaning Ether into existence, just like bank money.

I have an Ether mining rig, and I make money with it, however they do not advise investing in mining ether at this time, because you likely won't get a return on your investment with POS just around the corner.

 

[AlexMaximus]

If you think this is all for 'the good of the people' you're posting fantasist garbage based on juvenile myths that creepto fans spread because many of them don't know anything except what their echo chamber tells them.

Blockchain was invented in 91. Merkle Trees, which were created in the 70s, were added to the blockchain in 92.

The fake personality known as 'Satoshi Nakamoto' didn't invent blockchain or even claim to. It didn't create the hash functions it relies on either. The only thing he did was publicly solve a double spending problem.

The NSA wrote a paper in 1996 on anonymous peer to peer electronic cash. In that system users mint their money on their computers. The conclusion of the paper stated that system would result in money laundering for criminal networks and tax evasion.

https://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

What the NSA didn't foresee is the pyramid scheme features that we have seen in this space, that criminals are the main beneficiary of, and that if it was open sourced it could be copy-pasted into creating thousands of more nonsense cryptocurrency scams.

You're debating with the wrong type of person. Fool someone else.

Thank you for pointing out your point of view.

Now you please watch this below and tell me your opinion about it:

Dr. Mark Skidmore – $21 Trillion Missing from US Federal Budget

After all its your money, ... or lets say your missing money, so please don't shoot me for my outside view on a US problem. I sit in Europe at the moment. The problem I have is this, -the exact same crooks run the show over here. I absolutely do not think Bitcoin is super great, however one thing is very clear at this point. The world has to get rid of its money slave masters as soon as possible.

 

[DearthnVader]

Thank you for pointing out your point of view.

Now you please watch this below and tell me your opinion about it:

Dr. Mark Skidmore – $21 Trillion Missing from US Federal Budget

After all its your money, ... or lets say your missing money, so please don't shoot me for my outside view on a US problem. I sit in Europe at the moment. The problem I have is this, -the exact same crooks run the show over here. I absolutely do not think Bitcoin is super great, however one thing is very clear at this point. The world has to get rid of its money slave masters as soon as possible.

Interesting, I don't want to say Dr. Mark is delving into the realm of conspiracy theory, but where would this money even be coming from?

I mean we have a pretty good accounting of the revenues we take in in tax, and the money we borrow, and what we spend it all on, and those numbers pretty much match up. So where would it get this money from?

It's not on the books at the Fed, as far as the h.4.1, so either the Fed would have to be maintaining a set of black books on money it is giving to the government, the government itself would have to be inflating, I.E. printing money out of thin air, or the US Government has some sort of black funding.

It's all within the realm of possibility, but there is likely a simpler explanation of dysfunctional accounting within the Federal Government that make it appear that they have money and are spending it in untold ways, when in fact either is happening on a $21 trillion dollar scale, likely tens, maybe even 100's of billions, but not tens of trillions, that would be hard to hide.

 

[SoyCapitanSoyCapitan]

Thank you for pointing out your point of view.

Now you please watch this below and tell me your opinion about it:

After all its your money, ... or lets say your missing money, so please don't shoot me for my outside view on a US problem. I sit in Europe at the moment. The problem I have is this, -the exact same crooks run the show over here. I absolutely do not think Bitcoin is super great, however one thing is very clear at this point. The world has to get rid of its money slave masters as soon as possible.

You guys are just like any cult banging on the door. You never ****ing give up even when politely asked to.

Crypto solves NONE of these problems. It's just another wealth transfer scheme from the little guys on the end to the scammers who hold most of the coins early on and control the system. End of the story.