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THE BITCOIN IS STRONG

 
Anonymous Coward
User ID: 74409681
New Zealand
03/10/2017 08:47 PM
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...


So then it's better to have tradable commodities like bullets, medicines and food. Not something you cant see.
 Quoting: Anonymous Coward 74409681


Not better today. There is no EMP today. Tomorrow, who knows. I say best is having supplies for both rainy and sunny days.
 Quoting: W0RD'SW0RD


Good luck on your quest for me it's a no goer.
I think it's doomed to failure.
 Quoting: Anonymous Coward 74409681


Fair enough, no skin off my back good sir. It is going to replace all forms of monetary exchange... better to be in early than not. People are afraid of the possibility of the mark of the beast coming out of cryptocurrencies. I assure you, it will, but it will be a fork off of what bitcoin (or ethereum, or some other) currently is. You do not support the beast by putting $ into btc, right now you fight it. Stay true, and there is no reason to fear you'll wind up chipped.
 Quoting: W0RD'SW0RD


Haha nothing to do with the beast or chipping, I just think it's doomed to fail.
Anonymous Coward
User ID: 67848085
United States
03/10/2017 08:57 PM
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Re: THE BITCOIN IS STRONG
EMP attack and then what
Anonymous Coward
User ID: 70197228
United States
03/10/2017 09:00 PM
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Re: THE BITCOIN IS STRONG
Bitcoin is a scam.
Anonymous Coward
User ID: 70197228
United States
03/10/2017 09:02 PM
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Re: THE BITCOIN IS STRONG
Where is best place to learn about & get started with Bitcoin? No joke. I'm being cereal....

hf
 Quoting: Anonymous Coward 68497262


You would be wise to steer clear of this scam.

Buy tangible assets, not make believe fiat cryptocrap.
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 10:18 PM
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Re: THE BITCOIN IS STRONG
If you wanted a one world government, you would need a common currency. What would you do?
 Quoting: Anonymous Coward 74364093


Well I'd use a cryptocurrency, just bc they're so easy.

But I'm not trying to create a one-world government, I'm fighting one, so I need a cryptocurrency to be able to fight an eventual cryptocurrency that rules the world. Preemptive planning. See?
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 10:20 PM
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Re: THE BITCOIN IS STRONG
Bitcoin is a scam.
 Quoting: Anonymous Coward 70197228


Tell that to the guy down your street who bought his house with money from the same "scam".

Did you buy at its first peak and sell after its first dump? I'm sorry if so, and I understand why you would feel it is a scam. But it's not, to me and many others.

Last Edited by Rest on 03/10/2017 10:24 PM
For my yoke is easy and my burden is light
Anonymous Coward
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United States
03/10/2017 10:25 PM
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Re: THE BITCOIN IS STRONG
Where is best place to learn about & get started with Bitcoin? No joke. I'm being cereal....

hf
 Quoting: Anonymous Coward 68497262

If you are serious then I can help you acquire Bitcoin.
Serious only.
Anonymous Coward
User ID: 69198262
United States
03/10/2017 10:29 PM
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Re: THE BITCOIN IS STRONG
I've been making bank trading alt coins. Mostly dash and etherium.

Poloniex is where it's at.
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 10:32 PM
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Re: THE BITCOIN IS STRONG
I've been making bank trading alt coins. Mostly dash and etherium.

Poloniex is where it's at.
 Quoting: Anonymous Coward 69198262


Bittrex is my shiz... but ya... agreed. :-) :-) :-)
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 10:34 PM
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Re: THE BITCOIN IS STRONG
got into dash at .012 :)
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 10:53 PM
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Re: THE BITCOIN IS STRONG
got into dash at .012 :)
 Quoting: W0RD'SW0RD


Seems traders think it has a cap at .05... nuh-uh... people just keep buying and buying
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 69198262
United States
03/10/2017 10:55 PM
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Re: THE BITCOIN IS STRONG
got into dash at .012 :)
 Quoting: W0RD'SW0RD


Seems traders think it has a cap at .05... nuh-uh... people just keep buying and buying
 Quoting: W0RD'SW0RD


It's getting nuts. I've missed some big gains just because I couldn't believe it'd go that high.
Anonymous Coward
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United States
03/10/2017 11:01 PM
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Re: THE BITCOIN IS STRONG
Bitcoin is a scam.
 Quoting: Anonymous Coward 70197228


Tell that to the guy down your street who bought his house with money from the same "scam".

Did you buy at its first peak and sell after its first dump? I'm sorry if so, and I understand why you would feel it is a scam. But it's not, to me and many others.
 Quoting: W0RD'SW0RD


I didn't know banks accepted bitcoin for house purchases. Cool to know. Thanks!
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 11:07 PM
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Re: THE BITCOIN IS STRONG
Bitcoin is a scam.
 Quoting: Anonymous Coward 70197228


Tell that to the guy down your street who bought his house with money from the same "scam".

Did you buy at its first peak and sell after its first dump? I'm sorry if so, and I understand why you would feel it is a scam. But it's not, to me and many others.
 Quoting: W0RD'SW0RD


I didn't know banks accepted bitcoin for house purchases. Cool to know. Thanks!
 Quoting: Anonymous Coward 73704215


They don't yet but they accept cash and/or wired deposits.
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 11:10 PM
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Re: THE BITCOIN IS STRONG
got into dash at .012 :)
 Quoting: W0RD'SW0RD


Seems traders think it has a cap at .05... nuh-uh... people just keep buying and buying
 Quoting: W0RD'SW0RD


It's getting nuts. I've missed some big gains just because I couldn't believe it'd go that high.
 Quoting: Anonymous Coward 69198262


Well, it's especially big in Europe right now. It has been made available to buy at certain atms. Interestingly, by extension, it also makes bitcoin available by atm.

Last Edited by Rest on 03/10/2017 11:48 PM
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 74348621
United States
03/10/2017 11:14 PM
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Re: THE BITCOIN IS STRONG
What happens if my hard drive crashes, or internet goes down for a month.
 Quoting: Anonymous Coward 74409681


back up your wallet.dat and get a new machine.. carry on...
 Quoting: Anonymous Coward 74276302


I cant afford a new machine.
 Quoting: Anonymous Coward 74409681


Then have an online wallet and a local wallet then sync them.

- Local wallet on physical machine

[link to bitcoin.org (secure)]

- Online wallet to provide back up for your wallet. Fill out all the security steps please.

[link to blockchain.info (secure)]

Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way.
 Quoting: Anonymous Coward 27814554


What happens when all the bitcoins are mined??
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 11:22 PM
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Re: THE BITCOIN IS STRONG
...


back up your wallet.dat and get a new machine.. carry on...
 Quoting: Anonymous Coward 74276302


I cant afford a new machine.
 Quoting: Anonymous Coward 74409681


Then have an online wallet and a local wallet then sync them.

- Local wallet on physical machine

[link to bitcoin.org (secure)]

- Online wallet to provide back up for your wallet. Fill out all the security steps please.

[link to blockchain.info (secure)]

Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way.
 Quoting: Anonymous Coward 27814554


What happens when all the bitcoins are mined??
 Quoting: Anonymous Coward 74348621


They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/10/2017 11:26 PM
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Re: THE BITCOIN IS STRONG
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Not better today. There is no EMP today. Tomorrow, who knows. I say best is having supplies for both rainy and sunny days.
 Quoting: W0RD'SW0RD


Good luck on your quest for me it's a no goer.
I think it's doomed to failure.
 Quoting: Anonymous Coward 74409681


Fair enough, no skin off my back good sir. It is going to replace all forms of monetary exchange... better to be in early than not. People are afraid of the possibility of the mark of the beast coming out of cryptocurrencies. I assure you, it will, but it will be a fork off of what bitcoin (or ethereum, or some other) currently is. You do not support the beast by putting $ into btc, right now you fight it. Stay true, and there is no reason to fear you'll wind up chipped.
 Quoting: W0RD'SW0RD


Haha nothing to do with the beast or chipping, I just think it's doomed to fail.
 Quoting: Anonymous Coward 74409681


I didn't write that part for you. Let the charts speak for themselves.

Last Edited by Rest on 03/10/2017 11:32 PM
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 04:28 AM
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Re: THE BITCOIN IS STRONG
This was posted in another thread, but such a great explanation I thought I'd pass it along here too:

Bitcoin has value. Shit tons more than fiat boys and girls. Even more than Gold. Most people don't understand it and like everything else its all emotional.

Why is bitcoin more valuable than fiat?
Fiat is limitless and printed by governments willy-nilly.
It's printed on nearly worthless paper or fake coins (zinc vs copper pennies). There is no end to the supply and the only value it has is 100% perceptual dependent upon the common perception of the world markets, but it's true value is negative given the continual printing and exponential debt to actual money.

Bitcoin on the other hand is finite and actually quite scarce. This element of bitcoin is similar to Gold - however gold is also infinite in supply just simply harder to obtain through finding or yes manufacturing with science. Eventually gold will be mined on other interstellar objects such as the moon, mars, and asteroids. Bitcoin however will run out and never another made after 21 million are minted. You wont find new ones on the mars or moon. It is 100% finite given the integrated functional math. Thus it has inherent true scarcity, even more-so than gold and well its obvious that fiat is anything but scarce. Fiat is way too loose.

Now another thing that people just don't understand is the tremendous value in the hardware used to actually support the bitcoin network and the energy used to do so. There is millions if not billions of dollars being invested into the bitcoin network, applications, hardware and businesses that drive value into the digital currency. It costs the governments very little to just spit out new coins - while every newly minted bitcoin costs a lot of money just to create factoring in hardware and electricity costs. This cost also drives value into the coin.

The greatest value of all is that the coin represents FREEDOM to each and every individual on the planet. They are free to essentially be their own bank and to be their own stock broker free of the control imposed by those that run the world markets that are in collusion with world governments. Digital currencies are the safe haven for the average Joe, everyman. Of course the value will fluctuate - but over time it will simply continue to grow as the populace becomes more awakened to the fact that they no longer need to be under the wing of the bankers and that as more individuals own parts of the coin the higher the value vs fiat becomes. The returns are far greater than any other market - at least for the past 2 years straight and as scarcity increases so will this continued growth.

-AC 73533979
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 73533979
United States
03/11/2017 04:47 AM
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Re: THE BITCOIN IS STRONG
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I cant afford a new machine.
 Quoting: Anonymous Coward 74409681


Then have an online wallet and a local wallet then sync them.

- Local wallet on physical machine

[link to bitcoin.org (secure)]

- Online wallet to provide back up for your wallet. Fill out all the security steps please.

[link to blockchain.info (secure)]

Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way.
 Quoting: Anonymous Coward 27814554


What happens when all the bitcoins are mined??
 Quoting: Anonymous Coward 74348621


They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
 Quoting: W0RD'SW0RD




That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
Anonymous Coward
User ID: 73533979
United States
03/11/2017 04:51 AM
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Re: THE BITCOIN IS STRONG
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Then have an online wallet and a local wallet then sync them.

- Local wallet on physical machine

[link to bitcoin.org (secure)]

- Online wallet to provide back up for your wallet. Fill out all the security steps please.

[link to blockchain.info (secure)]

Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way.
 Quoting: Anonymous Coward 27814554


What happens when all the bitcoins are mined??
 Quoting: Anonymous Coward 74348621


They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
 Quoting: W0RD'SW0RD




That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
 Quoting: Anonymous Coward 73533979


2140 sorry. quite a ways off, but still it does end.
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 04:55 AM
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Re: THE BITCOIN IS STRONG
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Then have an online wallet and a local wallet then sync them.

- Local wallet on physical machine

[link to bitcoin.org (secure)]

- Online wallet to provide back up for your wallet. Fill out all the security steps please.

[link to blockchain.info (secure)]

Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way.
 Quoting: Anonymous Coward 27814554


What happens when all the bitcoins are mined??
 Quoting: Anonymous Coward 74348621


They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
 Quoting: W0RD'SW0RD




That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
 Quoting: Anonymous Coward 73533979


Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks.
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 59938998
Netherlands
03/11/2017 05:11 AM
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Re: THE BITCOIN IS STRONG
look how fast bit coin rebounded after RTF was rejected.
Anonymous Coward
User ID: 73533979
United States
03/11/2017 05:28 AM
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Re: THE BITCOIN IS STRONG
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What happens when all the bitcoins are mined??
 Quoting: Anonymous Coward 74348621


They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
 Quoting: W0RD'SW0RD




That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
 Quoting: Anonymous Coward 73533979


Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks.
 Quoting: W0RD'SW0RD


Blocks will continue to be found by miners.
They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain.
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 05:29 AM
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Re: THE BITCOIN IS STRONG
look how fast bit coin rebounded after RTF was rejected.
 Quoting: Anonymous Coward 59938998


Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 73533979
United States
03/11/2017 05:32 AM
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Re: THE BITCOIN IS STRONG
look how fast bit coin rebounded after RTF was rejected.
 Quoting: Anonymous Coward 59938998


yes, and the reason for rejection is a clear strength not a weakness.

Rejection occurred because the market can not be controlled . Control is necessary to stop/close market exchanges given a free fall in order to minimize investor losses. Given that bitcoin is free/open and global, there is absolutely no way for the SEC to achieve control and thus the truly free market will do what it does.
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 05:33 AM
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They never will be.

Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million.
 Quoting: W0RD'SW0RD




That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
 Quoting: Anonymous Coward 73533979


Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks.
 Quoting: W0RD'SW0RD


Blocks will continue to be found by miners.
They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain.
 Quoting: Anonymous Coward 73533979


Wow.

So...

Theoretically...

A (less than) satoshi would be worth an entire block reward in 2140 (the current value of 12.5 BTC). That's mind-blowing.

What would the world do with so much wealth? We'd need to travel the stars or something.

Last Edited by Rest on 03/11/2017 05:41 AM
For my yoke is easy and my burden is light
Anonymous Coward
User ID: 73533979
United States
03/11/2017 05:40 AM
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Re: THE BITCOIN IS STRONG
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That's not true. Last bitcoin will be mined in 2040 roughly.

Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair.
 Quoting: Anonymous Coward 73533979


Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks.
 Quoting: W0RD'SW0RD


Blocks will continue to be found by miners.
They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain.
 Quoting: Anonymous Coward 73533979


Wow.

So...

Theoretically...

A (less than) satoshi could potentially be worth an entire block reward in 2140.

What would the world do with so much wealth? We'd have to travel the stars or something.
 Quoting: W0RD'SW0RD


Well hopefully by 2140 humanity will have cured aging, mastered knowledge of consciousness and the abilities to transfer into other bodies/avatars while at minimum have the ability to travel at will within the immediate solar system. Ultimately we should seek out "Where no man has gone before".
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 05:57 AM
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Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks.
 Quoting: W0RD'SW0RD


Blocks will continue to be found by miners.
They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain.
 Quoting: Anonymous Coward 73533979


Wow.

So...

Theoretically...

A (less than) satoshi could potentially be worth an entire block reward in 2140.

What would the world do with so much wealth? We'd have to travel the stars or something.
 Quoting: W0RD'SW0RD


Well hopefully by 2140 humanity will have cured aging, mastered knowledge of consciousness and the abilities to transfer into other bodies/avatars while at minimum have the ability to travel at will within the immediate solar system. Ultimately we should seek out "Where no man has gone before".
 Quoting: Anonymous Coward 73533979



spock
For my yoke is easy and my burden is light
W0RD'SW0RD  (OP)

User ID: 72367877
United States
03/11/2017 06:02 AM
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Re: THE BITCOIN IS STRONG
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Blocks will continue to be found by miners.
They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain.
 Quoting: Anonymous Coward 73533979


Wow.

So...

Theoretically...

A (less than) satoshi could potentially be worth an entire block reward in 2140.

What would the world do with so much wealth? We'd have to travel the stars or something.
 Quoting: W0RD'SW0RD


Well hopefully by 2140 humanity will have cured aging, mastered knowledge of consciousness and the abilities to transfer into other bodies/avatars while at minimum have the ability to travel at will within the immediate solar system. Ultimately we should seek out "Where no man has gone before".
 Quoting: Anonymous Coward 73533979



spock
 Quoting: W0RD'SW0RD


This said, what would stop someone with say, 100,000 bitcoins from gifting a few Satoshi to every single person on earth? Might not be worth much now, but it would grow over time, and it would ensure everyone had a stake and eventual wealth down their line.
For my yoke is easy and my burden is light





GLP