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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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Everyone wants Bitcoin.
Put one in my hand and I will want it too.
You will own nothing, and you will be happy.
Here we go again. When the USD collapses, like all fiat currencies eventually do, to its intrinsic value of “0”, what will bitshits be valued in? Dollars? Maybe seashells? Oh oh, I know, how ’bout……….GOLD? OK. How much gold per shitcoin? 1 oz? 1/2 oz? What!? And who gets to determine what and how much? Remember this? A period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels. Sounds alot like this bitshit craze, doesn’t it? Con game or pyramid scheme? It’s a zero sum game……with many losers and few winners.
“blockchain” as a field is way bigger than the dumpsterfire that is BTC.
and digital gold is already a thing 😉 https://paxos.com/paxgold/
The History of Coin Clipping & The Recoinage of 1696
https://britanniacoincompany.com/blog/coin-clipping-the-great-recoinage-of-1696/
Pieces of Eight
https://www.encyclopedia.com/history/united-states-and-canada/us-history/pieces-eight
Clips. Bits. Pieces. Eight it up in big bytes. Just funny little letter coincidences, surely.
Happenstance, coincidence, enemy action…debasement is debasics o’ “money.”
What’s deservin’ got to do, Will(t the)Munny?:
Volatile, intangible, invented by the NSA, get you used to the upcoming CBDC, ties you even more to your “smart” phone, needs electricity to function, get rich quick scheme et al. Sounds perfect for the ignorant pandemic believers…
Is the antithesis of anonymous, is not easy to buy or sell, nor to transact with.
Other than that, and your reasons, its awesome!
^ you’re talking about BTC, not the real bitcoin. (bsv)
Bitcoin is an op.
Sure. But a brilliant one at that.
If it dissuades people from storing private, tangible, intergenerational wealth it serves its purpose.
That is its purpose
But it’s also shiny and purty and the world’s finest conductor of electricity and you can make jewelry out of it and plug dental cavities!!!
Right?
Only 7 members of congress own crypto worth a combined total of about $500k . I’ll buy bitcoin if I see it on Nancy Pelosi and Lindsay Graham’s financial disclosures.
That’s very fair.
Maybe after a Crypto Earthquake shakes all the weak hands out of the system.
Then they might back up their Meta Trucks to the Meta Bitcoin Reserve.
But it’ll probably be raining bullets in those days and we might all be incarcerated, dead, or otherwise occupied.
I can hold this:
5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF
Or I can hold a silver or gold coin in my hand.
I like the feel of the physical coin.
Several years ago, I took a silver quarter and a fake metal quarter and dropped them on the ceramic tile for my grandsons to listen to. They loved the sound the silver coin made compared to the thud the fake metal quarter made. I also let them hold a Krugerrand and feel the heft of that one ounce beauty.
I gave my 10 year old grandson a 1/4th of an ounce Gold American Eagle coin for Christmas…he was impressed with the weight.
Along with it was a 10 page internet print out of the history of Gold, a history of fiat currancies, famous pro Gold quotes, and a closing letter from me. Some of it in the write up is over his head for now…but it will all make sense as he matures.
We had a long talk about Gold and Silver, he has over 20 Silver 1 ounce American Eagles I have given him since he was 8…but this was his first Gold.
He was impressed, grateful, and sworn to cross your heart no nonsense secrecy. He gets that everytime he gets a coin…my Daughter says he keeps his word.
What? TBP is achangin’ if it puts forth anything at all positive about BTC after lo these many years. Going to $220k this year says Max Keiser, the ultimate HODLR and maximalist. The dollar? Could be ZERO, following a trend that has taken it to a 96% thereabouts loss in purchasing power. So far, while BTC, gold, and silver have done somewhat better as compared to a kick in the nuts against a ribeye steak.
Power goes out and bitcoin reverts to zero. I am no doubter of bitcoin, I just know it’s limitations and it’s reliance on the internet and power.
MrLiberty, you are smarter than that. When the power goes out what happens to your stocks, your bank account, and the trucker who can’t get any diesel? Nothing will save us if the power goes out other than farming and survival of the fittest. Meanwhile, BTC gives us a shot at changing what constitutes money that is not controlled by government. Yes, it may not work out, but for the love of Mike, what we have is a fucking disaster and leading to something Orwellian.
When the power goes out what happens to your stocks, your bank account
Forget the power.
Ever had your bank account frozen?
Ever had assets in your name frozen?
Sure you still ‘own’ them.
You just can’t use them.
The government can freeze your bank account on a whim (like mine).
Assets can be frozen by any competent lawyer with a court order.
Meanwhile, BTC gives us a shot at changing what constitutes money that is not controlled by government.
Red Herring.
The government ultimately controls the medium of your new money.
Whether they shut down cellular or use the internet kill switch is irrelevant.
The same government that shut down everybody’s businesses in the last mass swindle.
Now remember the power.
All those folks in Texas sitting in the dark for 10 days when the power went out weren’t buying food with bitcoin, or their credit cards.
They were using fiat currency.
When that is no longer accepted, it will be back to PMs.
If you can’t transfer your money to me, it’s worthless.
If it’s not in your hand, you don’t own it.
It’s pointless to argue with libtards and anti-bitcoiners.
Not a libtard, Trumper, or an anti-bitcoiner.
I’m probably more an anti-banker.
I keep no large amounts in banks.
It’s not worth the third party risk.
You made some points, and I countered your points.
I believe the counter points I made to yours are cogent.
Please tell me where I am wrong.
As long as everything is up and running, bitcoin has its uses.
Inter-jurisdictional movement of large sums of money without involving banks is definitely a plus.
But the “anonymous” part is not a risk one should take.
Use standard shell precautions.
As a transfer mechanism, it seems usable.
As a parking spot, not so much.
It doesn’t look like it will take over day to day transactions anytime soon, unless fiat goes tits up.
It has its uses, it just seems a bit overhyped at this stage, and those hyping it gloss over the shortcomings.
Well said and I think people have forgotten Cyprus 2013, which I describe in detail in my book. It’s a living example of what the Masters of the Financial Universe can do any time:
Anything electronic can be fully controlled by THEM. I appreciate the need to do something better, but THEY will not allow it to happen. If it isn’t in YOUR control, then it is in THEIRS.
Only an idiot thinks it can’t be taken or erased in the blink of an eye.
Can you transact in bitcoin in Kazahkstan?
I wouldn’t bet on it.
you can do it in south africa. close enough 😉
Yes you can – I can personally confirm this.
I like the idea of the blockchain for smart contracts and even voting. I have no problem with a stablecoin that can be used for transactions. I do have a problem with BTC and for the following reasons:
How will anyone extract any value from their holdings when the grid goes down? No grid = no BTC. That isn’t true for my PM’s.
When your wallet gets hacked and all of your BTC vanishes, who do you call to try to get it back?
Uncle Sam demands real-world $$ for the gains made in a currency that you can not use to pay your taxes.
My thoughts exactly.
blockchains are hosted worldwide.
if the entire planet’s power goes out, honey you got WAY bigger problems than “muh precious metals”
( I own gold and silver too, but I have no faith in the social fabric of any nation in an EMP event.)
use a hardware wallet? don’t transact publicly with that address?
i mean come-on.
compartmentalization is one of the greatest boons of blockchain.
https://hodlr.swiss
Two great ways to vaporize $$$$$, (1) Fed stuffs money in stock market, market crashes (poof). (2) Fed stuffs money in BTC along with random suckers BTC crashes (poof). It is the way they have controlled inflation and also controlling the velocity of money. It works for a while along with small controlled crashes but eventually….KaKaKa-Boom. (((They))) don’t care if your money is vaporized.
At that point, bye-bye BTC.
Crypto currencies are just another form of fiat currency. Created ad hoc and ad lib with nothing tangible
to back them but the belief and faith of the persons using them. Like the US dollar they are subject to
inflation, manipulation and devaluation as needed by those in power.
except folks dont seem to understand there are branches of bitcoin. one branch is run, almost exclusively by the money changers. how someone can believe in today’s era of banning EVERYTHING against the party line and yet somehow every other ad on Youtube is for bitcoin and yet… somehow … none of the channels or commercials are ever banned. its a cat and mouse game and bitcoin buyers sure arent the cats. But, yes absolutely, do no research on the actual corporate structures or history of the coin and push it out there because some guy who does a few funny skits and has no finance background says bitcoin deniers are looney. We shall see.
Whatever you will be able to trade for food, shelter and heat will be the medium of exchange, it won’t be bitcoin or dollars.
Seems to me since cryptocurrency is denominated in money (dollars) the dollars have to go to zero for crypto to have meaning ( no more, so many Bitcoin=$).
Also don’t ignore the ability to mine actual human energy for crypto.
crypto
krĭp′tō
noun
One who covertly supports a certain doctrine, group, or party.
Cryptography.
An element in words of Greek origin, meaning ‘hidden, concealed, not evident or obvious.’ See calypto-.