Member FreeManatOverlookMeadow
MemberForum Replies Created
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The Gubment is going after it by trying to make regulations to tax people and make it as difficult to use and purchase crypto. The gubment is doing this because they fear it.
I agree there are many types of crypto that are Scam like and actually have been proven to be. Bitcoin is the king of Crypto because of block chain and proof of work algorithms. Its solid.
If you are making comments based on what someone told you and not fact I highly recommend you take the course on Bitcoin I mentioned early in the thread. Educate yourself on the topic. I find most deniers know very little about bitcoin or can not prove what they are saying with facts.
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BTW Bitcoin has been around going on 14 years. It’s decentralized and no one owns it. It was designed to and for personal freedoms away from fiat currency. Most people don’t know but this but the US Dollar has defaulted on the dollar 5 times. Bitcoin only has 21 million Bitcoin, period which means that this currency is a deflating currency. You can’t make more like central banks and governments have been doing for decades. This decentralized system uses proof of work or stake to determine if every transaction is correct.
A typical PoS based mechanism workflow:
- Nodes make transactions. The PoS algorithm puts all these transactions in a pool.
- All the nodes contending to become validator for the next block raise a stake. This stake is combined with other factors like ‘coin-age’ or ‘randomized block selection’ to select the validator.
- The validator verifies all the transactions and publishes the block. His stake still remains locked and the forging reward is also not granted yet. This is so that the nodes on the network can ‘OK’ the new block.
- If the block is ‘OK’-ed, the validator gets the stake back and the reward too. If the algorithm is using a coin-age based mechanism to select validators, the validator for the current block’s has its coin-age reset to 0. This puts him in a low-priority for the next validator election.
- If the block is not verified by other nodes on the network, the validator loses its stake and is marked as ‘bad’ by the algorithm. The process again starts from step 1 to forge the new block.
It’s not some sort of government conspiracy. You can actually go onto the web and view transaction on the block chain. Completely transparent but private as it doesn’t reveal names just Bitcoin addresses.
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This reply was modified 2 years ago by FreeManatOverlookMeadow.
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This reply was modified 2 years ago by FreeManatOverlookMeadow.
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https://paybis.com/blog/companies-that-accept-bitcoin/
170 Companies that accept Bitcoin as payment.
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Anyone that wants a free education with certificate about many topics go to http://www.Saylor.org
There is a Bitcoin Topic CS120 Bitcoin for Developers 1. Some of it gets pretty deep but most of it the layman can understand and it does a great job explaining many of the myths out there specifically about Bitcoin.
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But I always tell folks do your own research and make up your own mind.
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I think the only other crypto I might dive into eventually is Etherium. They are making some changes to their system that strengthens their security. Bitcoin IMHO is the King and the rest are shitcoins. Just my opinion!
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Actually it is more accepted than you probably think. With Lightning as a 3rd layer to make payments its easy. Subways in certain areas are accepting as well as Burger King. It’s not wide spread but with more education to the public and a more prominent population that uses Bitcoin it will become a thorn in the side of that 3 letter gubment organization that likes to steal our money. It also clears fast from your ledger as in usually 10 minutes or less. Not like waiting 4-7 days for that darn fiat deposit to hit your account! And bank checks, forget how long that takes. The bitcoin block chain closes out the block of transactions every 10 minutes. Fees to process are so much less than credit/debit card fees too. That means a lot to businesses that use bitcoin. Seriously take the course written by Michael Saylor the Godfather of Bitcoin Knowledge. It is on Saylor Academy at http://www.saylor.org Class CS102 Bitcoin for Developers. I firmly believe it will be the currency of choice for a parallel economy to our corrupt gubment when they become tyrannical enough to warrant the transition. Just my honest opinion. I also recommend not putting all your biscuits in bitcoin. Gold/Silver, Property, ect… are options for your biscuits!!
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Anytime sir!
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Saweet! Thank You for the input, much appreciated.
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@JD-in-GA Awesome! Love it. 👍🏼
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Probably because humans will need to run/monitor and repair the metal cans with electronics. Besides putting humans into slavery is cheaper!
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Rabbit Holes can be a dark lonely place!
By the way the Frog in boiling water is a myth. All amphibians are ectotherm (cold blooded) which means they will move to regulate their temperature. This is why when an amphibian is cold they move to a hot rock to warm up. You don’t see them staying there and frying on a rock. Quite the opposite they will move to shade or a hole in the ground to regulate their body heat. A frog will get out of the water that gets too warm for them. They will not stay there if you increase the temp slowly.
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