Crypto requires big energy and thus big government.
It is less resilient than physical fiat because if the electric grid goes down, there is no way to make a transaction.
Why do you think they're running cyber attack simulations? They wanna make sure that when the big money boys switch to crypto, nobody can flip the switch on them so easily. They'll control the switch, like they already do with the stock market (trading halts etc). Wait until there's transaction halts. Banks and payment processors are trying to cancel Trump and his supporters.
Crypto is fairly communist in nature. The oligarchs are gonna love it!
What happens in climate change. The first thing that gets disrupted is always electricity. Tell me why everything renewables is running on electricity. But it is getting disrupted by climate change? Why would you divest from fossil fuels in extreme weather. Elecriticy goes down your generator running on petrol is banned. How on earth would you survive an ice age using renewables. They want the master switch and reset. It has nothing to do with the weather. Simple profit exploiting the gullible. Gullible believing elecricity comes from the wind and sun. Not a product. A product made out of fossil fuels. It simply rigs the market costing higher inflation and a taxation. A product which last less lifetime and breaks quicker. Like every single electrical item obsolete to an even more demanding model using even more electricity.
Bitcoin is also the stupidest in a disaster. The internet gets switched off. The only resources you have you prepped, food, water, seeds, fuel, tools, and any silver or gold. Currency can also often become worthless.
The dumb supercomputer exploiting humanity in a disaster is as ignorant as a phone without a charger.
It takes a special kind of idiot like Greta to buy the crap they are shoving down our throats. It has no thought and no solution. It simply exploits programmed demand faster accosting the gullible. The gullible enslaved. They no longer own nothing no more freedom. Look at this generation. 2 years dropped out to COVID. What happens next year.
Maybe we will just end up with tons of various currencies. I think most people would prefer that.
What they might do is a hybrid crypto/fiat/metals system, where they all represent one master "coin" to simplify it for the plebs, and if one of those currency systems goes down, there are still two others alive to uphold the master "coin" and its value. Similar to Tether (USDT) but universal and without the scamming.
I prefer entheogens as the currency, but that is a system we're not prepared for.
That is just it. What happens when electricity is disrupted. How can you buy the resources you need.
Look at Burma. Look at Kashmir. No internet.
What happens the very first minute COVID is gone. Mass protest. It will be everywhere sooner.
Let us add some extreme weather like hurricane Katrina. Where is your money. Bitcoin is not a credit card.
Bitcoin is worthless. It is unreliable. It is an instore creditcard to a cloud. A prepaid top up voucher. Why doesn't everybody have it. We all use electricity. Give me bitcoin. No. Some other server farm exploits its demand. Which is nonexistent except for the gimmicks selling it as a means to invest. Invest into an offshore shop in cyberspace. Where you get robbed on the highly volatile exchange rates and transaction times, but you can give a finger to your national currency and buy some digital goods and services like black market porn or other moody goods you don't want a receipt for. Hell maybe you wanted a receipt for the digital lootboxes of the technocrat. Although it is not ground into reality. Because it is a gimmick.
Maybe one day you say. I should think not because it is no longer attractive. That means regulation and a taxman. Not a scam hacker selling you Nigerian porn.
The future is digital credits in a society which scans your brain. It is worth as much as the programming.
Bitcoin miners create transaction blocks. The difficulty adjusts to the amount of miners competing to make a block. Each block creates a certain number of new bitcoin, halving every 4 years.
Today you mine a new block and you get about $300,000 in value. This pays for a lot of mining equipment and electricity, but in 20 years all other things being equal you'd only get $10,000 per block (1/32). In other words, in the past there was a gold rush of electricity and hardware put into making new blocks because the coins from block itself was so valuable, but in the future the value comes from people paying you to make transactions.
Basically, if the value of a transaction (not value traded) is 1 cent ultimately it'll cost 1 cent worth of electricity to make that trade.
You could say we're already in the period where bitcoin mining is paid for by transactions. Bitcoin protocol can't fit enough transactions into blocks to handle the volume, so transaction cost skyrockets, so they've created a new means to batch up lots of transaction off books and use bitcoin to finalize them all in one block.
Some military bureaucrat said they could install solar panels on tanks to stop climate change. Reality means nothing to these people until it skull fucks them.
Bitcoin = B(e) it coin= it shall be coin= fiat money. The myth about who invented it and why is used to make block chain technology acceptable by the public. The goal probably is to introduce later a government crypto money.
The problem of Bitcoin et al is:
Use of electrical energy and computing power, a risk factor.
Easy to copy, so there could be thousands of competing cryptos.
Crypto requires big energy and thus big government.
It is less resilient than physical fiat because if the electric grid goes down, there is no way to make a transaction.
Why do you think they're running cyber attack simulations? They wanna make sure that when the big money boys switch to crypto, nobody can flip the switch on them so easily. They'll control the switch, like they already do with the stock market (trading halts etc). Wait until there's transaction halts. Banks and payment processors are trying to cancel Trump and his supporters.
Crypto is fairly communist in nature. The oligarchs are gonna love it!
What happens in climate change. The first thing that gets disrupted is always electricity. Tell me why everything renewables is running on electricity. But it is getting disrupted by climate change? Why would you divest from fossil fuels in extreme weather. Elecriticy goes down your generator running on petrol is banned. How on earth would you survive an ice age using renewables. They want the master switch and reset. It has nothing to do with the weather. Simple profit exploiting the gullible. Gullible believing elecricity comes from the wind and sun. Not a product. A product made out of fossil fuels. It simply rigs the market costing higher inflation and a taxation. A product which last less lifetime and breaks quicker. Like every single electrical item obsolete to an even more demanding model using even more electricity.
Bitcoin is also the stupidest in a disaster. The internet gets switched off. The only resources you have you prepped, food, water, seeds, fuel, tools, and any silver or gold. Currency can also often become worthless.
The dumb supercomputer exploiting humanity in a disaster is as ignorant as a phone without a charger.
It takes a special kind of idiot like Greta to buy the crap they are shoving down our throats. It has no thought and no solution. It simply exploits programmed demand faster accosting the gullible. The gullible enslaved. They no longer own nothing no more freedom. Look at this generation. 2 years dropped out to COVID. What happens next year.
Good points there.
Maybe we will just end up with tons of various currencies. I think most people would prefer that.
What they might do is a hybrid crypto/fiat/metals system, where they all represent one master "coin" to simplify it for the plebs, and if one of those currency systems goes down, there are still two others alive to uphold the master "coin" and its value. Similar to Tether (USDT) but universal and without the scamming.
I prefer entheogens as the currency, but that is a system we're not prepared for.
That is just it. What happens when electricity is disrupted. How can you buy the resources you need.
Look at Burma. Look at Kashmir. No internet.
What happens the very first minute COVID is gone. Mass protest. It will be everywhere sooner.
Let us add some extreme weather like hurricane Katrina. Where is your money. Bitcoin is not a credit card.
Bitcoin is worthless. It is unreliable. It is an instore creditcard to a cloud. A prepaid top up voucher. Why doesn't everybody have it. We all use electricity. Give me bitcoin. No. Some other server farm exploits its demand. Which is nonexistent except for the gimmicks selling it as a means to invest. Invest into an offshore shop in cyberspace. Where you get robbed on the highly volatile exchange rates and transaction times, but you can give a finger to your national currency and buy some digital goods and services like black market porn or other moody goods you don't want a receipt for. Hell maybe you wanted a receipt for the digital lootboxes of the technocrat. Although it is not ground into reality. Because it is a gimmick.
Maybe one day you say. I should think not because it is no longer attractive. That means regulation and a taxman. Not a scam hacker selling you Nigerian porn.
The future is digital credits in a society which scans your brain. It is worth as much as the programming.
It's complicated.
Bitcoin miners create transaction blocks. The difficulty adjusts to the amount of miners competing to make a block. Each block creates a certain number of new bitcoin, halving every 4 years.
Today you mine a new block and you get about $300,000 in value. This pays for a lot of mining equipment and electricity, but in 20 years all other things being equal you'd only get $10,000 per block (1/32). In other words, in the past there was a gold rush of electricity and hardware put into making new blocks because the coins from block itself was so valuable, but in the future the value comes from people paying you to make transactions.
Basically, if the value of a transaction (not value traded) is 1 cent ultimately it'll cost 1 cent worth of electricity to make that trade.
You could say we're already in the period where bitcoin mining is paid for by transactions. Bitcoin protocol can't fit enough transactions into blocks to handle the volume, so transaction cost skyrockets, so they've created a new means to batch up lots of transaction off books and use bitcoin to finalize them all in one block.
Some military bureaucrat said they could install solar panels on tanks to stop climate change. Reality means nothing to these people until it skull fucks them.
How much energy does the world's banking industry use because that's what it will replace.
If you don't see the correlation between the energy that the banking industry uses and the energy that crypto uses, then you are lost.
The banking industry could be completely taken over by crypto AND crypto would use less energy.
Bitcoin = B(e) it coin= it shall be coin= fiat money. The myth about who invented it and why is used to make block chain technology acceptable by the public. The goal probably is to introduce later a government crypto money. The problem of Bitcoin et al is: