We have all heard of the massive computers being used to 'mine' bitcoins , consider for a moment that still 60% of the worlds electricity is powered by coal .
And if the majority of these computers operate in jurisdictions with coal based electricity grids then bitcoin is the world's first steampunk currency.
It is also foolish to think it cannot be completely destroyed by a group of determined hackers , anything humans create can be ripped apart .
Posts: 1,814
Threads: 15
Joined: Nov 2017
There are entire factories in China stacked to the ceiling with computers mining bitcoin. Kinda hilarious in way.
Posts: 80,218
Threads: 4,861
Joined: May 2016
i just don't understand how you guys have so much faith in cryptocurrency ... just another man made scheme with no oversight
i get it you don't trust big government but why would you trust blockchain ?
i think this entire run up is only because banksters allowed it and in fact profited wildly from it and use it to launder money
so anybody buying into it here is completely at the mercy of the powers that be just like it always was
Posts: 80,218
Threads: 4,861
Joined: May 2016
(12-15-2017, 04:37 PM)Kenny Wrote: i just don't understand how you guys have so much faith in cryptocurrency
That's a pretty wild assumption... hope you don't go through life assuming like this all the time.
(12-15-2017, 04:37 PM)Kenny Wrote: i get it you don't trust big government but why would you trust blockchain ?
i think this entire run up is only because banksters allowed it and in fact profited wildly from it and use it to launder money
so anybody buying into it here is completely at the mercy of the powers that be just like it always was
We know that.
Now don't get the idea that your input here isn't appreciated, it is...
I am just being honest with you.
Posts: 1,982
Threads: 107
Joined: Nov 2016
(12-15-2017, 04:37 PM)Kenny Wrote: i think this entire run up is only because banksters allowed it and in fact profited wildly from it and use it to launder money
so anybody buying into it here is completely at the mercy of the powers that be just like it always was
so you're saying they either invented or propped up various cryptos to launder money, money they could have laundered in their own banks like HSBC as they've been doing for decades?
also it won't be `hackers` that mess with it, it will be very large multinationals and .govs using quantum computers to crack private keys.
"Every ten minutes or so mining computers collect a few hundred pending bitcointransactions (a “block”) and turn them into a mathematical puzzle. ... The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger."
[*]Purchase custom mining hardware. When Bitcoin first started, it was possible to mine using only your desktop's CPU and GPU. ...
[*]Obtain a bitcoin wallet. ...
[*]Secure your wallet. ...
[*]Decide between joining a pool or going alone. ...
[*]Download a mining program. ...
[*]Run your miner. ...
[*]Keep an eye on temperatures. ...
[*]Check your profitability.
So, ignoring the unspendable genesis block, the sundry lost coins and unclaimed rewards, the maximum number of bitcoins is 20999999.9769 BTC. Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn't significant.
my question is who is watching over this entire system to make sure there is NO cheating at any of the potential myriad of weak links ?
that is the most ridiculous foundation for a monetary system i ever heard
and some think this is 'secure' and a good alternative to fiat banking
only a shit for brains would trust crypto currency , LOL
i understand if someone just does it for gambling fun , but this whole system should be extinguished it is far less safer even fair than fiat banking
Posts: 80,218
Threads: 4,861
Joined: May 2016
Crypto hatin' Kenny.
LOL.
Why you mad bro?
Go ahead and buy you some of that Dogecoin...
What is there to lose??
it just bothers me trix, it bothers me every single day
i went to my therapist last month and renewed my 3 month prescription to calm my nerves
bitcoin has really taken a toll on my health
Posts: 80,218
Threads: 4,861
Joined: May 2016
I'm just saying baby, don't be bitter... get yourself a piece.
You'll feel like an asshole if you're still living in that backwoods shack 10 years from now because you didn't let that crypto into your heart.
Not that there's anything wrong with living in a shack, and I'm sure you're very sexy... but I'm just saying, you'll have nobody but yourself to blame.
Posts: 3,726
Threads: 311
Joined: Sep 2017
Good im burning some now you Marxist shit sniffer
Posts: 3,726
Threads: 311
Joined: Sep 2017
(12-08-2017, 07:54 AM)Kenny Wrote: I suck huge cocks and eat the sperm!
