It really doesn't matter if our grid goes down. Bitcoin network is stabilized by miners all of the globe, completely decentralized. Also there are independent energy producers who aren't connected to the national grid that will continue mining bitcoin so I'll be ok.
Bitcoin Learning Material EDIT: AND NEWS!!!
- Thread starter cam_blev
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There is more value in bitcoin than that for those intelligent enough to grasp the ideas.
The federal government would have to rewrite the constitution and eliminate the first amendment for it to do that. Code is speech.
LOL. What do you think the government is trying to do with the new Ministry of Truth? Please don't tell me you're ignorant enough to believe we live in an intelligent country.
No. The complete opposite actually. We live in a country with incompetent leadership which is even more of a reason I don't think it could stop bitcoin.
Going back to the Gold Standard is a legit discussion. Communist science projects using cryptocurrency can't say I'm a fan.
Who put that incompetent leadership in office? People intelligent enough to grasp the ideas bitcoin?
Its funny because the communists will say they dont trust it because its a crazy libertarian free market money [laughing]
You really just don't get it at all which is odd since you are based in Math and Science.
So you have billions of stabilized bitcoin, but can't use it for anything. That's a great plan!
All i have to do is connect to the internet and i can use it, can be done easily enough with a satellite and a battery but if we are talking about power grid going down my first priority is getting somewhere with power anyway.
I do like how you assumed me to have billions, though.
Makes me curious, will you have access to your life savings and retirement if the grid went down? and if it is worth more than say a couple million dollars worth of value can you protect it from a small army?
Not true. It's commie science theory. The Chinese Communist Party and Russia are creating their own cryptocurrency. Same goal.
You don't think a government(s) or group of countries could ban PoW coins?
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If the grid goes down, I have water and heat when necessary. My life savings and 401k are toast, I'd never see those again, and I'm ok with that. The internet is the least of my concerns in that scenario.
But all you need is a battery and a satellite uplink to download all your digital coin and maybe a 3d printer or a bank with electricity to coin out your crypto. No big deal.
No the idea is to get the **** to where the other bitcoiners are and start miniature Galts Gulches and build communities around independent sources of energy with other productive people. Again once we monetize energy creation different things become possible. This can lead to decentralization and balkanization and more independent regions instead of .
I dont agree with everything here of course but its a good example of the way bitcoiners are thinking and working. https://untappedgrowth.com/citadel-theory-what-is-coming-and-how-to-survive-it/
No I do not and the idea is laughable
Are you telling me the federal government is going to monitor and regulate the data processing individuals are allowed to run on their own computers? Then they are going to come knocking if you run that one piece of code that all it is designed to do is generate random strings of characters.
https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html#:~:text=Experts estimate that as much,contemplating taking their operations overseas.
I don't know if the energy behind this movement is underestimated, misunderstood or if it is thought to be useless in the face of the All Powerful All Knowing Federal Government of the United States of America 
. There are a lot of very smart, very rich people that believe truly in these ideas and they have made it their life mission to see that this things succeeds with the goal of making the world a better place. Ignore the investors and the price action pay attention to the ideas and and the values of the people with the longer time preference and that are building and working to see this thing become more fit and make sure that it succeeds.
. There are a lot of very smart, very rich people that believe truly in these ideas and they have made it their life mission to see that this things succeeds with the goal of making the world a better place. Ignore the investors and the price action pay attention to the ideas and and the values of the people with the longer time preference and that are building and working to see this thing become more fit and make sure that it succeeds.Ummmm, ban it from their financial systems as some have considered.
Proposal Limiting Proof-of-Work Is Rejected in EU Parliament Committee Vote
No I don't think countries will decide to commit financial suicide in the name of a ******** ESG narrative while there is a global energy crisis that could be resolved by incentivizing new energy production.
There is a reason that proposal failed. Also them thinking that their regulation is going to change bitcoin is hilarious and show how little they understand what they are talking about.
"A faithful person will abound with blessings, but one who hurries to be rich will not go unpunished." - Proverbs 28:20
"But those who desire to be rich fall into temptation and a snare, and into many foolish and harmful lusts which drown men in destruction and perdition." - 1 Timothy 6:9
So you are saying random strings of character is gonna worth a fortune if the **** hits the fan ? Let that sink in . While life is peachy this bitcoin is fun , but it creates nothing by itself.
This is the reason why you dont shitcoin and just buy bItcoin and keep stackin
Yes because of the information encrypted in that random string of characters. There is value in information and data, particularly an incorruptible ledger that is a fair monetary system where no one has the rule of exception.
@oceantide83 THIS ISNT ABOUT GETTING RICH!!!!! I encourage others to buy bitcoin for their own sake not for mine. Yes, bitcoin will make me lots of money in the future but all that will do is free up my time to do things I find most important which will be to improve bitcoin and teach the people in my community about bitcoin and how they can use it to improve their lives. This is about improving humanity as it adopts a new technology as its new form of money and system of sharing value and price signal. This is about moving from an inflationary consumer society that requires constant growth and increased consumption for progress to a society that values personal responsibility and efficiency. This is about moving from a top down system oof power to a bottom up system of power that empowers individuals as opposed to governing collectives.
Now, I understand that those are large ideas as bitcoin is still relatively new but because bitcoiners don't have to be in a hurry because their wealth doesn't erode away but instead it grows making long term plans to accomplish big goals is something that can actually be done.
Now, I understand that those are large ideas as bitcoin is still relatively new but because bitcoiners don't have to be in a hurry because their wealth doesn't erode away but instead it grows making long term plans to accomplish big goals is something that can actually be done.
Do you have any military or computer science experience?
The reason I ask is that we agree on a lot of stuff but I'm not sure you understand the power of encryption and those are the 2 areas that I can think of that might help grasp it a little better. Military grade weapons systems rely on random strings of character. Being able to be the only person that has access to that string of characters means any amount of information can be passed in the open without it being able to be intercepted. Random strings of characters are why we can have the internet and do commerce online without everyone's information always being visible. There is great value in random strings of characters.
No & no . What I do understand is bitcoin is good when life is peachy, but when **** hits the fan tangible needs will be worth more . I can tell you now I cant see me putting salt & pepper on a 16oz bitcoin & forming a turd . Maybe my ignorance combined with my basic common sense way of thinking makes me invest in things of need .
I dont buy flowers for any reason, cant see a need. I bought mom new work shoes for mother's day.
She needed them ....just how my mind works
People NEED to put in reserve their basic needs first. Then they can gamble on crypto. I think you might be overestimating how difficult that is for the majority of people in this world. What everyone is trying to tell you is people need to take care of that first.
For me bitcoin is a novelty investment. When I'm getting lot of overtime I try & get some. But other than that I prefer investing in needs
99% of people buy Bitcoin and hold onto it with hopes they'll get rich (in USDs, mind you) from it. That's the only reason the price went up so ridiculously high. Not sure how you can deny that reality. Also, what makes you think people want to be efficient and take personal responsibility? Have you not noticed that at least half the country calls the government their daddy and expects it to provide everything to them for free? Your claim that Bitcoin "wealth" doesn't erode away is nothing but blind speculation. There is no guarantee it won't go to zero.
believe what you willwhen governments can no longer afford to pay people for doing nothing, people get surprisingly motivated to become productive to live
I don't know what percent of people that buy bitcoin are speculators but a significant portion of bitcoin belongs to people that do not ever plan to sell it for USD. You would be surprised how little bitcoin there really is that is traded around, most of it is held long term.
No it is not speculation, it is a fixed supply monetary asset in an environment where every country in the world is printing money as quickly as they can while now trying to combat inflation and an energy crisis. Supply demand requires the price to go up.
Bitcoin can't go to 0 because there are people that will never, ever, ever sell.
You don't understand how this works. If something is held by someone and they will never ever sell it, it has no value.
when governments can no longer afford to pay people for doing nothing, people get surprisingly motivated to become productive to live
I don't know what percent of people that buy bitcoin are speculators but a significant portion of bitcoin belongs to people that do not ever plan to sell it for USD. You would be surprised how little bitcoin there really is that is traded around, most of it is held long term.
No it is not speculation, it is a fixed supply monetary asset in an environment where every country in the world is printing money as quickly as they can while now trying to combat inflation and an energy crisis. Supply demand requires the price to go up.
Bitcoin can't go to 0 because there are people that will never, ever, ever sell.