This is a great explanation! I bought my first cryptocurrency a year ago, and very much feel that doing so is necessary in order to protect myself against the covid insanity that devalued fiat currency everywhere.
I also think that if the global digital passport gets implemented worldwide, we'll see an alternate economy spring up everywhere that will be based on crypto, and I want to be prepared for that.
If you are interested in blockchain stuff for more than coins then check out qortal.org
True peer to peer with no exchanges for transactions.
Very low power. It can run on a Raspberry Pi.
Smart contracts already in use.
They currently use Litecoin as their on/off ramp to the fiat world. On the Qortal network they already have functional demos that are in use for chat apps and buy/sell Litecoin with smart contracts. It is more like a protocol than just a coin.
I run it on an old 8 GB RAM, 2.3 GHz CPU system running Kubuntu (minimalist install) and it runs fine. The amount I mint (their term for mining) covers electricity and bandwidth it uses. Not a get rich quick type of blockchain which is good.
Not sure what to think about bitcoin - is its huge environmental footprint true? And how to reconcile that digital currency is part of the goal / trojan horse of these "health passports"? You know far more about this than I, curious your thoughts ...
I'm not claiming Bitcoin is useless or anything like that, but it has a more storied genesis than most people realize-
"Bitcoin originated with an anonymous person or group with the alias Satoshi Nakamoto. Miles has already noted that the name roughly translates to “Central Intelligence,” though lots of people hedge on this and say it could be translated as “wisdom from the central land” or something like that. Others point to actual people with the name, such as Dorian Satoshi Nakamoto, who has been suspected of being Bitcoin’s creator. What’s curious about Dorian Nakamoto is that he lived just two blocks from Hal Finney in Temple City, a suburb of Los Angeles. Hal Finney, now deceased, was the first person after Satoshi to use Bitcoin. The first recorded Bitcoin transaction was between Satoshi and Finney. Finney claimed he never knew who Satoshi really was, and many suspect Finney to be the real Satoshi. So it’s highly curious that Dorian, who was born Satoshi Nakamoto and later adopted the English name, lived just two blocks away but claims to have never known or heard of Hal Finney, and vice versa." http://mileswmathis.com/bitfraud.pdf
So from what gather , not as a math expert and that , is that there is utility in crypto . Bitcoin itself has some very interesting proposals that come from its finite nature but has an initial problem of unequal distribution . The initial creators and buy ins created wealth out of thin air , or rather shifting it from another exclusive scheme of money creation . I recall watching all the fist currency videos out at the time that preceded Bitcoin and then Bitcoin was having these town halls . Then my friend used Bitcoin to buy pot, because it had the promise of not being traced . The non traceable promises ignited its use in black market trade , even though it was promoting its utility in cheaper exchange cost of currency . I suppose cheaper exchange cost and anonymity was the utility it was selling . But then these wild fluctuations of value was occurring and my friends $500 worth went up fast , and fell snd rose. Some black market sites got things moving along .
While the banking system created privileged aristocrats Bitcoin seemed to able to exploitable by tyrants as well , even those same money making aristocrats . If someone can steal millions or billions from the people in a banana republic they could convert it to Bitcoin and disappear. And if that could happen with such thieves the same tyrants behind legacy money creation could also utilize it . That was my early assessment .
A friend of mine , investment banker, created the crypto fund in Canada . (The greedy fucks financing it , fucked him out of the stake in the end . He already did the work so he has another fund coming out soon). When he was putting the fund together for registering it and such , he had to figure how to evaluate crypto . And gave gave me some fun examples and stories . Like in some place in Africa people use phone data as a currency . People are able to transfer data from one phone to another and that became a “ I got no cash on me, hey do you want some data?” Exchange .
The other thing my friend went into was the amount of energy it takes to do things like mine more Bitcoin and the energy of the blockchain accounting thingo ( sure you guys have names for it).
What I think was agreed on was that the block chain has the utility and is likely where the advancement will occur. Because it solves other issues in finance around the tracking and exchange of commodities .
I think Bitcoin carries on because of greedy people that want it to stay high , and not because it’s egalitarian . So it’s kind of the same bullshit as the other legacy in that way .
It’s really the concept that has this great potential , but also screams control and tyranny as well. Initially it has this promise of decentralization of control , but everyone can feel and know deep down it also has a very concerning potential of absolute centralization as well. The legacy money is not running away or threatened by crypto . I think it’s quite the opposite . They are licking their lips and happily promoting it as an alternative to their power .
Because a blockchain system of exchange can be established around all major commodities , a single commodity coin can be created that acts as a representation of all commodity . The all commodity crypto then represents GDP and acts as a true representation of value in material goods . The floating fiat , like Bitcoin somehow gets rolled into it to ensure buy in and retaining of power. And a beautiful accounting of blockchain representing commodities ( semi finite). As a currency is born .
No phone ? No ability to exchange ! Creates a necessity for individual computing and tracking and absolutely eliminates anonymity and privacy and entirely puts power into the hands of a few.
Blockchain technology is nothing short of revolutionary. Money (bitcoins etc) is just one implementation of it. It is the one that gets all the press and attention but in reality is just a small part.
Imagine companies selling their shares directly to the purchasers with no middle men taking their cut. Companies would save 15-20% for initial share offerings and shareholders would not pay commissions to buy or sell their shares.
There was a small energy company in Canada that took its supply chain management department from 40 people down to 6 by using blockchain technology to implement smart contracts with their suppliers.
That is just a small glimpse into what is possible. Think beyond the coin.
I still wonder if this wouldn't be an excellent way to scuttle excess capital. Next breaking point reached? Scuttle it and poof, capital gone for all but the top players who run the casino.
Nice. So I wasn't aware of "Brave" but I started with PRE (Presearch) browser private search engine about a year ago. They give slices of PRE token (1/4 for each search) when I signed up, the token was trading for 0.08 cents, I was shocked the other day to see it in the .40 range. I never bought any at 0.08 cents, just accumulated free tokens with using search (have like 122 now). I like these search engines that reward, and are none tracking / private. I have invested in some strong use case crypto projects (BTC,ETH,ALGO,XLM,Matic ect.) SHIB/DOGE as well. Its been fun, learned a lot over the last year.
I am on your other posting today and commenting more about a magazine model subscription . But thought to jump back here to leave a comment about how blockchain can be used to secure scientific inquiry from censorship , by tying the data files into the blockchain . This way a “wallet “
Memory card can be able to move the information where big government might censor such things .
I’ve been in crypto for a while. For anyone that is interested in a deeper dive, Bitcoin has several forks, in that there are multiple chains that share the same genesis block. Bitcoin, Bitcoin Cash and Bitcoin SV (Satoshi’s Vision) all have the same origin. For me, Bitcoin SV is the closest to the original creation. I use it everyday. I highly recommend Twetch, which is a blockchain based Twitter alternative. There may be some haters that pile on to these comments, but my transaction cost less than $.01 and minting NFTs is extremely easy.
This is a great explanation! I bought my first cryptocurrency a year ago, and very much feel that doing so is necessary in order to protect myself against the covid insanity that devalued fiat currency everywhere.
I also think that if the global digital passport gets implemented worldwide, we'll see an alternate economy spring up everywhere that will be based on crypto, and I want to be prepared for that.
Ernst Wolff on engineered collapse of current financial systems and fiat currencies:
https://youtu.be/W6HtPufV_ok
Bitcoin is the embodiment of a brilliant idea. That has got to be worth something in the information age.
Mathew, is bitcoin related to Covid in an “old money” vs. “new money” way?
If you are interested in blockchain stuff for more than coins then check out qortal.org
True peer to peer with no exchanges for transactions.
Very low power. It can run on a Raspberry Pi.
Smart contracts already in use.
They currently use Litecoin as their on/off ramp to the fiat world. On the Qortal network they already have functional demos that are in use for chat apps and buy/sell Litecoin with smart contracts. It is more like a protocol than just a coin.
I run it on an old 8 GB RAM, 2.3 GHz CPU system running Kubuntu (minimalist install) and it runs fine. The amount I mint (their term for mining) covers electricity and bandwidth it uses. Not a get rich quick type of blockchain which is good.
Not sure what to think about bitcoin - is its huge environmental footprint true? And how to reconcile that digital currency is part of the goal / trojan horse of these "health passports"? You know far more about this than I, curious your thoughts ...
I tried to contribute and edit a post on campfire.wiki but I see no way to create an account. There's a link to login, but not to create an account.
I'm not claiming Bitcoin is useless or anything like that, but it has a more storied genesis than most people realize-
"Bitcoin originated with an anonymous person or group with the alias Satoshi Nakamoto. Miles has already noted that the name roughly translates to “Central Intelligence,” though lots of people hedge on this and say it could be translated as “wisdom from the central land” or something like that. Others point to actual people with the name, such as Dorian Satoshi Nakamoto, who has been suspected of being Bitcoin’s creator. What’s curious about Dorian Nakamoto is that he lived just two blocks from Hal Finney in Temple City, a suburb of Los Angeles. Hal Finney, now deceased, was the first person after Satoshi to use Bitcoin. The first recorded Bitcoin transaction was between Satoshi and Finney. Finney claimed he never knew who Satoshi really was, and many suspect Finney to be the real Satoshi. So it’s highly curious that Dorian, who was born Satoshi Nakamoto and later adopted the English name, lived just two blocks away but claims to have never known or heard of Hal Finney, and vice versa." http://mileswmathis.com/bitfraud.pdf
"NFTs and Bitcoin are about Money Laundering" http://mileswmathis.com/nft.pdf
So from what gather , not as a math expert and that , is that there is utility in crypto . Bitcoin itself has some very interesting proposals that come from its finite nature but has an initial problem of unequal distribution . The initial creators and buy ins created wealth out of thin air , or rather shifting it from another exclusive scheme of money creation . I recall watching all the fist currency videos out at the time that preceded Bitcoin and then Bitcoin was having these town halls . Then my friend used Bitcoin to buy pot, because it had the promise of not being traced . The non traceable promises ignited its use in black market trade , even though it was promoting its utility in cheaper exchange cost of currency . I suppose cheaper exchange cost and anonymity was the utility it was selling . But then these wild fluctuations of value was occurring and my friends $500 worth went up fast , and fell snd rose. Some black market sites got things moving along .
While the banking system created privileged aristocrats Bitcoin seemed to able to exploitable by tyrants as well , even those same money making aristocrats . If someone can steal millions or billions from the people in a banana republic they could convert it to Bitcoin and disappear. And if that could happen with such thieves the same tyrants behind legacy money creation could also utilize it . That was my early assessment .
A friend of mine , investment banker, created the crypto fund in Canada . (The greedy fucks financing it , fucked him out of the stake in the end . He already did the work so he has another fund coming out soon). When he was putting the fund together for registering it and such , he had to figure how to evaluate crypto . And gave gave me some fun examples and stories . Like in some place in Africa people use phone data as a currency . People are able to transfer data from one phone to another and that became a “ I got no cash on me, hey do you want some data?” Exchange .
The other thing my friend went into was the amount of energy it takes to do things like mine more Bitcoin and the energy of the blockchain accounting thingo ( sure you guys have names for it).
What I think was agreed on was that the block chain has the utility and is likely where the advancement will occur. Because it solves other issues in finance around the tracking and exchange of commodities .
I think Bitcoin carries on because of greedy people that want it to stay high , and not because it’s egalitarian . So it’s kind of the same bullshit as the other legacy in that way .
It’s really the concept that has this great potential , but also screams control and tyranny as well. Initially it has this promise of decentralization of control , but everyone can feel and know deep down it also has a very concerning potential of absolute centralization as well. The legacy money is not running away or threatened by crypto . I think it’s quite the opposite . They are licking their lips and happily promoting it as an alternative to their power .
Because a blockchain system of exchange can be established around all major commodities , a single commodity coin can be created that acts as a representation of all commodity . The all commodity crypto then represents GDP and acts as a true representation of value in material goods . The floating fiat , like Bitcoin somehow gets rolled into it to ensure buy in and retaining of power. And a beautiful accounting of blockchain representing commodities ( semi finite). As a currency is born .
No phone ? No ability to exchange ! Creates a necessity for individual computing and tracking and absolutely eliminates anonymity and privacy and entirely puts power into the hands of a few.
We have some very small investments in bitcoin and ripple. Basically only because we don't want to lose everything (think of it as coercion).
I don't believe in them one iota. Tulips come to mind. And the CDBCs are just pure evil.
Blockchain technology is nothing short of revolutionary. Money (bitcoins etc) is just one implementation of it. It is the one that gets all the press and attention but in reality is just a small part.
Imagine companies selling their shares directly to the purchasers with no middle men taking their cut. Companies would save 15-20% for initial share offerings and shareholders would not pay commissions to buy or sell their shares.
There was a small energy company in Canada that took its supply chain management department from 40 people down to 6 by using blockchain technology to implement smart contracts with their suppliers.
That is just a small glimpse into what is possible. Think beyond the coin.
I still wonder if this wouldn't be an excellent way to scuttle excess capital. Next breaking point reached? Scuttle it and poof, capital gone for all but the top players who run the casino.
Nice. So I wasn't aware of "Brave" but I started with PRE (Presearch) browser private search engine about a year ago. They give slices of PRE token (1/4 for each search) when I signed up, the token was trading for 0.08 cents, I was shocked the other day to see it in the .40 range. I never bought any at 0.08 cents, just accumulated free tokens with using search (have like 122 now). I like these search engines that reward, and are none tracking / private. I have invested in some strong use case crypto projects (BTC,ETH,ALGO,XLM,Matic ect.) SHIB/DOGE as well. Its been fun, learned a lot over the last year.
I am on your other posting today and commenting more about a magazine model subscription . But thought to jump back here to leave a comment about how blockchain can be used to secure scientific inquiry from censorship , by tying the data files into the blockchain . This way a “wallet “
Memory card can be able to move the information where big government might censor such things .
bitcoin = bitcon
I said this since I first heard of it back in 2017.
I have zero-bit of sympathy for any sob stories regarding it.
I’ve been in crypto for a while. For anyone that is interested in a deeper dive, Bitcoin has several forks, in that there are multiple chains that share the same genesis block. Bitcoin, Bitcoin Cash and Bitcoin SV (Satoshi’s Vision) all have the same origin. For me, Bitcoin SV is the closest to the original creation. I use it everyday. I highly recommend Twetch, which is a blockchain based Twitter alternative. There may be some haters that pile on to these comments, but my transaction cost less than $.01 and minting NFTs is extremely easy.