Some very good points to be wary of! I hope you're wrong of course. Alas I agree it's always good to question EVERYTHING. The identity of Nakamoto is truly a question of great importance.
I have recently stumbled on Bitshares, the 'parent' cryptocurrency of Steem runs on, which operates a Decentralized Exchange. Anyone can make an account\accounts. Recently people thought it was strange that Bittrex(a popular exchange with KYC) is deleting Bitshares from their exchange. Apparently they claimed 'unfixable vulnerability in Bitshares Code, vulnerability to 51% attack' or something along the lines of that. But if that is true or not I'm not sure. Of course it's never good to put all your eggs in one basked and 'if it's too good to be true' often it is. So many factors to be aware of while 'playing the crypto game.' Many might scoff but there's some red flags like you said. I'll check out your links later...
Recently Snowden tweeted
Agree. Zcash's privacy tech makes it the most interesting Bitcoin alternative. Bitcoin is great, but "if it's not private, it's not safe." https://t.co/HqwQOvSCiz
And one thing about Snowden... I never for a second think he's lying or that we're not 'spyed' upon... but since his 'revelations' were put out even on CNN and whatnot, I have to wonder if those revelations he made are like another form of control... like people won't want to speak up if they think 'big brother' is watching them. Anyways! God writing and thanks always for the posts. Keep it up.
Very well reasoned, well considered argument.
I disagree with your conclusion, not because bitcoin can't be regulated, but because of all the alts. It's almost completely frictionless for me to move my btc into dash, ethereum, monero, steem etc.
To an observer, the wealth vanishes.
Hmmm... We could release a coin for each day of the week, so that no one would run out when they need to invest in hookers and blow on a whim, just because it's the end of the week.
If each coin's unspent balance was subtracted from the coin coming due next, we could pile up Yuuuuge piles of debt, and write off the unpaid interest as tax deductions!
Remember the Proles in Orwell's 1984? When it gets as bad as you envision, some of us will simply become Proles. "The animals and the Proles are free." Wikipedia has a good synopsis.
I'm kinda there. I work for cash. I have no credit. I live low, grow most of my food. And I live a life that is about as free as one can be within a police state.
If fiat is no good and precious metals are no good and cryptos are heavily monitored and taxed, then we Proles will have to barter. That's why I'm buying a medium-size fractional still. If you think people are unhappy now, wait until the dystopia you're envisioning. High quality booze not only numbs the reality of your slavery, it's fuel, it's a disinfectant, it's a wonderful solvent: Infinitely tradable. You can even make Molotov cocktails! The Whiskey Rebellion all over again. Like the Dukes of Hazard. Woooeee-ha.
I also tend to barter a lot. I've been doing odd jobs for the little old ladies (and some not so old ;)) in exchange for chocolate chip cookies. I haven't had a bank account for over seven years now, and, while there are drawbacks, I don't have to worry about hackers anymore.
We still have to worry about hackers on Steemit. But we're playing for tokens here, not money.
Banks are the least safe place to put money. The government can steal it electronically, the bank can declare a "holiday" and the longer it sits there the less it's worth. What a scam!
I do appreciate the clarity of your insight and I truly understand the complexity of the fix we're in. We're nearing a turning point in history, and if we're lucky, the pendulum will swing back towards liberty. Unfortunately, the psychopathic mindset is unrelenting and they will do everything within their considerable power to keep from losing control. These are indeed "interesting times" in the Chinese sense. I guess we'll see what happens next.
Some very good points to be wary of! I hope you're wrong of course. Alas I agree it's always good to question EVERYTHING. The identity of Nakamoto is truly a question of great importance.
I have recently stumbled on Bitshares, the 'parent' cryptocurrency of Steem runs on, which operates a Decentralized Exchange. Anyone can make an account\accounts. Recently people thought it was strange that Bittrex(a popular exchange with KYC) is deleting Bitshares from their exchange. Apparently they claimed 'unfixable vulnerability in Bitshares Code, vulnerability to 51% attack' or something along the lines of that. But if that is true or not I'm not sure. Of course it's never good to put all your eggs in one basked and 'if it's too good to be true' often it is. So many factors to be aware of while 'playing the crypto game.' Many might scoff but there's some red flags like you said. I'll check out your links later...
Recently Snowden tweeted
And one thing about Snowden... I never for a second think he's lying or that we're not 'spyed' upon... but since his 'revelations' were put out even on CNN and whatnot, I have to wonder if those revelations he made are like another form of control... like people won't want to speak up if they think 'big brother' is watching them. Anyways! God writing and thanks always for the posts. Keep it up.
Nothing would please me more than being wrong! I love finding out I am wrong, because then I can change my mind, and become right.
Very well reasoned, well considered argument.
I disagree with your conclusion, not because bitcoin can't be regulated, but because of all the alts. It's almost completely frictionless for me to move my btc into dash, ethereum, monero, steem etc.
To an observer, the wealth vanishes.
This is my exact plan, as my last link shows.
Thanks!
I'm launching my own coin ;)
Going to 'fix' the world.
Hmmm... We could release a coin for each day of the week, so that no one would run out when they need to invest in hookers and blow on a whim, just because it's the end of the week.
If each coin's unspent balance was subtracted from the coin coming due next, we could pile up Yuuuuge piles of debt, and write off the unpaid interest as tax deductions!
Awesome plan!
Dude. That's next level. I take my hat off.
Another great post. Makes me think.
Remember the Proles in Orwell's 1984? When it gets as bad as you envision, some of us will simply become Proles. "The animals and the Proles are free." Wikipedia has a good synopsis.
I'm kinda there. I work for cash. I have no credit. I live low, grow most of my food. And I live a life that is about as free as one can be within a police state.
If fiat is no good and precious metals are no good and cryptos are heavily monitored and taxed, then we Proles will have to barter. That's why I'm buying a medium-size fractional still. If you think people are unhappy now, wait until the dystopia you're envisioning. High quality booze not only numbs the reality of your slavery, it's fuel, it's a disinfectant, it's a wonderful solvent: Infinitely tradable. You can even make Molotov cocktails! The Whiskey Rebellion all over again. Like the Dukes of Hazard. Woooeee-ha.
That is damn good thinking!
I also tend to barter a lot. I've been doing odd jobs for the little old ladies (and some not so old ;)) in exchange for chocolate chip cookies. I haven't had a bank account for over seven years now, and, while there are drawbacks, I don't have to worry about hackers anymore.
They're after more profitable targets.
We still have to worry about hackers on Steemit. But we're playing for tokens here, not money.
Banks are the least safe place to put money. The government can steal it electronically, the bank can declare a "holiday" and the longer it sits there the less it's worth. What a scam!
I do appreciate the clarity of your insight and I truly understand the complexity of the fix we're in. We're nearing a turning point in history, and if we're lucky, the pendulum will swing back towards liberty. Unfortunately, the psychopathic mindset is unrelenting and they will do everything within their considerable power to keep from losing control. These are indeed "interesting times" in the Chinese sense. I guess we'll see what happens next.
Given how fractional reserve banking works, I note that any deposit I make enables the bank to loan out 9 times as much money as I let them play with.
I am not enabling this fraud!
Glad to know a man of honor. You can't defeat the dragon by feeding it.
Fortunately for your opinion of me, my poverty of means handily facilitates my declaration of principle =p
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