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Title: Government, Bitcoin/Gold Limited Supply Problem, P2P Exchanges and Solutions! Post by: TimeBits on April 25, 2019, 08:03:14 AM The Worlds Solution https://www.youtube.com/watch?v=Y7TLFyK_3Pk
The simulation https://www.youtube.com/watch?v=Q41RW6bxpM4 The end of the simulation https://www.youtube.com/watch?v=jYJVG1fKnRo "Time is money" -Benjamin Franklin "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford If you have a better solution or idea to it feel free to enlighten me and the world. This is the other solution I just thought of Everyone create their own token with the same supply. It takes 3 clicks :-* That way when you run out you got to work for someone else, make the coins exchangeable into a common coin called "coin" with the same supply as all the rest combined. https://www.youtube.com/watch?v=bowyBKPt15U Just make your own ;) I will trade you 1 Mikecoin2.0 for 1 Yourcoin, if your supply is the same as mine and you only own 1 account. I can look on the network, see what address created that coin, see you have uploaded a picture of you and have one account, and trust to trade with you at 1:1 if both our supplies are 1000 Who wants to trade? oh, the exchange is already built in as well, nice. ...WAIT :o WE COULD MAKE OUR OWN SUPPLY AND NOT WORK FOR MR.ROTHCHILDS UNTIL WE RUN OUT OF OUR OWN, IN WHICH CASE WE COULD WORK FOR ANYONE`S SUPPLY RATHER THAN MR.ROCKEFLLARS OR MR.CANADA'S OR UNCLESAMS :o http://timhillpsychotherapy.com/wp-content/uploads/2016/09/What-Would-You-Do-With-Your-Freedom.jpg Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 09:29:02 AM "well bitcoins Divisible down to 8 decimal places and if needed we can add more via censuses of the network"
When private cooperation`s or bankers or governments or groups own 51% or the network it is not decentralized and you will have no say. China already owns 81% of the hashing power btw. and sure... but it is still not fairly distributed, also you will be adding more and more decimal places and lower and lower tx fees until the day you die. To the point where miners will not mine to support the network and there will not be one. The tax fees should also be going to support projects, like clean water, food, shelter and space exploration and "governments" aka US THE PEOPLE (that we all vote on where the money goes). Not to run a network that uses more energy than Ireland and soon to be more than Canada in the next 10 years. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: Haunebu on April 25, 2019, 10:02:26 AM Your statement about China controlling majority of the hash power currently could change since they might effectively ban crypto mining in their country pretty soon which could help improve the decentralization aspect of Bitcoin.
Even though Bitcoin is centralized to an extent, it is still leaps and bounds better than traditional FIAT, gold etc which are almost completely centralized. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 10:08:37 AM Your statement about China controlling majority of the hash power currently could change since they might effectively ban crypto mining in their country pretty soon which could help improve the decentralization aspect of Bitcoin. Even though Bitcoin is centralized to an extent, it is still leaps and bounds better than traditional FIAT, gold etc which are almost completely centralized. I agree, fiat needs to go and sure bitcoin is better in some aspects, but also has the flaw in the end game like gold has with bitcoin (WATCH THE SIMULATION) I played in it and killed the AI king twice who was basically using aimbot). It becomes like a game of jenga where the bottom keeps giving to the top and eventually collapses, the bottom has no way to reforge the resources, or like a slinky where the bottom pulls the top so hard down they fall another step and we all end up on the ground. https://www.youtube.com/watch?v=U4B1ZfL5LA8 (in the end no matter what you do, if the bottom is not getting new pieces it falls, it always ends the same) In a time/duration dispensing system, the bottom constantly gets reinforced and the tower at the top will not fall. The trickle-up effect, ever watch a volcano create land? There is a reason that land does not fall back into the ocean, like Hawaii, it is only because the water level is rising does it appear to be falling, but if the water level never rises, the land does not sink. We need the gold to go to space anyways so we can`t use that and we need the power usage of the bitcoin network to be useful. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: Artemis3 on April 25, 2019, 11:45:07 AM In a time/duration dispensing system, the bottom constantly gets reinforced and the tower at the top will not fall. The trickle-up effect, ever watch a volcano create land? There is a reason that land does not fall back into the ocean, like Hawaii, it is only because the water level is rising does it appear to be falling, but if the water level never rises, the land does not sink. We need the gold to go to space anyways so we can`t use that and we need the power usage of the bitcoin network to be useful. And in space we might find more gold that, if brought back to earth, will lower its value. So there is that. You can see Bitcoin as 21,000,000 bitcoin units or 2,100,000,000,000,000 satoshi units, but its still a fixed amount by code that could only be changed by the vast majority of its owners, something that might probably never happen unless its value goes so high that even 1 satoshi becomes impractical to use. In reality resources ON earth are limited, but in space you need to spend resources to find more resources. And yes, you could run out of resources before finding any if you mismanage their use. There are several resource games out there and you can see the same pattern repeat again and again. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 04:04:30 PM In a time/duration dispensing system, the bottom constantly gets reinforced and the tower at the top will not fall. The trickle-up effect, ever watch a volcano create land? There is a reason that land does not fall back into the ocean, like Hawaii, it is only because the water level is rising does it appear to be falling, but if the water level never rises, the land does not sink. We need the gold to go to space anyways so we can`t use that and we need the power usage of the bitcoin network to be useful. And in space we might find more gold that, if brought back to earth, will lower its value. So there is that. You can see Bitcoin as 21,000,000 bitcoin units or 2,100,000,000,000,000 satoshi units, but its still a fixed amount by code that could only be changed by the vast majority of its owners, something that might probably never happen unless its value goes so high that even 1 satoshi becomes impractical to use. In reality resources ON earth are limited, but in space you need to spend resources to find more resources. And yes, you could run out of resources before finding any if you mismanage their use. There are several resource games out there and you can see the same pattern repeat again and again. Well one thing is for sure, if we go back to the gold standard, there is not enough gold in the entire galaxy just to pay back Canada`s debt or the USA, just to get out of debt for America. That is 1,057,692,307.6875 Pounds. Where you going to put that? To buy a coffee I need to spend more bitcoin in the transaction fee than the coffee is worth itself and wait 10 minutes(more like 30mins-2 hours in reality), that is impractical already. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 05:06:46 PM I am surprised no one is like, Hey, this makes a lot of sense not converting time into cents and just keeping it as time and using a limited supply in a world where human population is only growing does not make sense, using another mans supply instead of a equally distributed money supply makes sense. Not using a physical good that we need in electronics and spaceships makes sense (gold). Using the tax fees to support projects rather than miners makes sense. The simulation you have showed us is will happen.
I guess you are all to far down the green train that you are no longer human, you have gone so far away from a force you are willing to walk around and have been sucked into a force you are forced to walk around. All you see in your life is your fiat growing, you don`t even see 1 bitcoin as 1 bitcoin, you see 1 bitcoin as fiat, $5,500, "Yippy the price is going up! I told you, you should of invested when it was 10 cents" You are humans gone orcs gone goblins. ::) Milton Friedman Jr`s. Heck after reading most of this forum just change the address bitcointalk.org to coinmarketcap.com you will save most of these people time. "cause people currently are currency addicts and cryptonumismatists are steady collecting coin for the kill" https://www.youtube.com/watch?v=ExEjXLMd4VA Come on out fellows, the grass is green out here. 8) Title: Re: (bitcoin/gold) Limited Supply Problem Post by: Yakamoto on April 25, 2019, 06:24:19 PM In a time/duration dispensing system, the bottom constantly gets reinforced and the tower at the top will not fall. The trickle-up effect, ever watch a volcano create land? There is a reason that land does not fall back into the ocean, like Hawaii, it is only because the water level is rising does it appear to be falling, but if the water level never rises, the land does not sink. We need the gold to go to space anyways so we can`t use that and we need the power usage of the bitcoin network to be useful. And in space we might find more gold that, if brought back to earth, will lower its value. So there is that. You can see Bitcoin as 21,000,000 bitcoin units or 2,100,000,000,000,000 satoshi units, but its still a fixed amount by code that could only be changed by the vast majority of its owners, something that might probably never happen unless its value goes so high that even 1 satoshi becomes impractical to use. In reality resources ON earth are limited, but in space you need to spend resources to find more resources. And yes, you could run out of resources before finding any if you mismanage their use. There are several resource games out there and you can see the same pattern repeat again and again. Well one thing is for sure, if we go back to the gold standard, there is not enough gold in the entire galaxy just to pay back Canada`s debt or the USA, just to get out of debt for America. That is 1,057,692,307.6875 Pounds. Where you going to put that? To buy a coffee I need to spend more bitcoin in the transaction fee than the coffee is worth itself and wait 10 minutes(more like 30mins-2 hours in reality), that is impractical already. Countries that develop a gold (or alternatively-back currency) would likely be able to pay for their debts by having the currency valued insanely high, as a currency with a backing commodity is more valuable than fiat. It could also make the price of gold (in fiat) skyrocket to the point where it is valuable enough to pay debts. It's easier to default on the debt and then make the transition, though, so chances are no country would try to shuffle into a backed currency while they still have substantial debt. The point of debt in the fiat system is to literally "create" money and enter an infinite cycle where everyone has to work to try and beat inflation, but absolutely never can. Backed currencies would force a country to not make full-moron expenditures on unnecessary programs. Meaning; it forces fiscal conservatism. Some people won't like that. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: BitHodler on April 25, 2019, 06:54:57 PM The point of debt in the fiat system is to literally "create" money and enter an infinite cycle where everyone has to work to try and beat inflation, but absolutely never can. I agree that there is a very large number of people who can't outperform inflation, but there is also a large number of people who just blindly/wrongly assume that there isn't a way to outperform inflation. It's a very wrong attitude.I am an average person myself in terms of overall wealth, but that doesn't mean I have to accept that the rich always enjoys an easy ride. What they can do, I can too. Not having millions to invest is a lame excuse. With some effort and a certain degree of risk you can easily outperform inflation too. Bitcoin for example has yielded such an insane return throughout the last couple of years, that you have undone centuries worth of inflation. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: Artemis3 on April 25, 2019, 07:15:12 PM If there was ever a shift back to the gold standard it would result in a complete re-wiring of the system, per say. If I remember correctly it was Saddam who was thinking about breaking the petrodollar and getting his country back to a gold standard, which would completely break fiat economics. That part is kind of irrelevant, but worth noting for the context. Countries that develop a gold (or alternatively-back currency) would likely be able to pay for their debts by having the currency valued insanely high, as a currency with a backing commodity is more valuable than fiat. It could also make the price of gold (in fiat) skyrocket to the point where it is valuable enough to pay debts. It's easier to default on the debt and then make the transition, though, so chances are no country would try to shuffle into a backed currency while they still have substantial debt. The point of debt in the fiat system is to literally "create" money and enter an infinite cycle where everyone has to work to try and beat inflation, but absolutely never can. Backed currencies would force a country to not make full-moron expenditures on unnecessary programs. Meaning; it forces fiscal conservatism. Some people won't like that. The only problem with "backing" is the trust in the backer. You can have a "gold standard", and assume everyone isn't going to change their banknotes for gold at the same time... Then you get a repeat of the fractional reserve system again. In fact, it could be that countries like the USA were so deep in that already that dropping it was the safest thing to do (before somehow all Americans decided to demand their gold). While money backed with "something" sounds almost like its that something, it isn't. A gold dollar coin is not the same as a dollar that represents an amount of gold equal to the same gold dollar coin. Even if you have trust, its still a promise you have to fulfill, and humans being humans, or human institutions, or governments, politicians, whatever, could come the day they don't fulfill it and plummets the price, just like a bankrun. (Or the legislative declares that the gold standard is now void). When the Austrians wanted gold as money, they meant actual gold coins or ingots, anything you could melt at anytime and you don't have to trust that "someone" will give it to you when you request it (the same promise a bank does to you when you make a deposit). So even if you say, that money is backed with gold, I'm not going to trust it the same as if it was gold itself. So its rather pointless. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 07:39:23 PM In a time/duration dispensing system, the bottom constantly gets reinforced and the tower at the top will not fall. The trickle-up effect, ever watch a volcano create land? There is a reason that land does not fall back into the ocean, like Hawaii, it is only because the water level is rising does it appear to be falling, but if the water level never rises, the land does not sink. We need the gold to go to space anyways so we can`t use that and we need the power usage of the bitcoin network to be useful. And in space we might find more gold that, if brought back to earth, will lower its value. So there is that. You can see Bitcoin as 21,000,000 bitcoin units or 2,100,000,000,000,000 satoshi units, but its still a fixed amount by code that could only be changed by the vast majority of its owners, something that might probably never happen unless its value goes so high that even 1 satoshi becomes impractical to use. In reality resources ON earth are limited, but in space you need to spend resources to find more resources. And yes, you could run out of resources before finding any if you mismanage their use. There are several resource games out there and you can see the same pattern repeat again and again. Well one thing is for sure, if we go back to the gold standard, there is not enough gold in the entire galaxy just to pay back Canada`s debt or the USA, just to get out of debt for America. That is 1,057,692,307.6875 Pounds. Where you going to put that? To buy a coffee I need to spend more bitcoin in the transaction fee than the coffee is worth itself and wait 10 minutes(more like 30mins-2 hours in reality), that is impractical already. Countries that develop a gold (or alternatively-back currency) would likely be able to pay for their debts by having the currency valued insanely high, as a currency with a backing commodity is more valuable than fiat. It could also make the price of gold (in fiat) skyrocket to the point where it is valuable enough to pay debts. It's easier to default on the debt and then make the transition, though, so chances are no country would try to shuffle into a backed currency while they still have substantial debt. The point of debt in the fiat system is to literally "create" money and enter an infinite cycle where everyone has to work to try and beat inflation, but absolutely never can. Backed currencies would force a country to not make full-moron expenditures on unnecessary programs. Meaning; it forces fiscal conservatism. Some people won't like that. Well Gold ends up like the end game of bitcoin, Same with the Oil or Petro you are talking about the simulation is there. Ok sure, more Oil can come into existence but that only takes millions of years, not to mention how horrible it is for us and that atmosphere to be constantly burning. Lets pump the literal "death" into the air we breath that is some good logic. Also the petrodollar is not what is backing the USD, CAD or other fiats, it is just faith that people will accept it. What backs it is literally the people and their work AKA an individuals time and work within blocks of duration, Uneducated people not smart enough to question why they are working for literally monopoly money they just trade it because it has a nice picture on it because instead of leading the pack they just follow it and don`t question it. You see the same in religion so I am not surprised people believe in others thoughts rather than form their own. In that case The Book of Revelation describes a war in heaven between angels led by the Archangel Michael against those led by "the dragon", identified as the devil or Satan, who are defeated and thrown down to the earth.[1][2] Revelation's war in heaven is related to the idea of fallen angels, and possible parallels have been proposed in the Hebrew Bible and the Dead Sea Scrolls. So I killed Satan in my creators kingdom and now I am here to do it on earth, hey you Jewish people and Christians wrote it not me. I don`t even believe in Satan :-* I actually thought of another currency other than time that can replenish over time so we don`t end up with that end game, food like cherries and peaches. Every year more comes into circulation, the only problem is that food gets consumed or rots and only has a short duration life span where as Time/Duration representation tokens only stop being accumulating when somebody dies, not like they need to accumulate anymore then anyways. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 10:11:35 PM The point of debt in the fiat system is to literally "create" money and enter an infinite cycle where everyone has to work to try and beat inflation, but absolutely never can. I agree that there is a very large number of people who can't outperform inflation, but there is also a large number of people who just blindly/wrongly assume that there isn't a way to outperform inflation. It's a very wrong attitude.I am an average person myself in terms of overall wealth, but that doesn't mean I have to accept that the rich always enjoys an easy ride. What they can do, I can too. Not having millions to invest is a lame excuse. With some effort and a certain degree of risk you can easily outperform inflation too. Bitcoin for example has yielded such an insane return throughout the last couple of years, that you have undone centuries worth of inflation. wait so how do we pay back the debt? if in order to pay it back new money which creates more debt must be created.... (like bitcoin dust, old paper bills and loose change have ended up rotting away) so even if you took all the money in circulation you still would not have enough to pay back every dollar, even if we sold all stocks, goods and services you still would not have enough. sure you got good returns in bitcoin, but that does not mean anything, how does bitcoin undo centuries worth of inflation of debt, it is measured in fiat... well to me 1bitcoin=1bitcoin but to most 1btc = $5,500 USD. Now, Timed Currency and duration backed money, if were convertible to food, could pay it back. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: Yakamoto on April 25, 2019, 10:35:37 PM wait so how do we pay back the debt? if in order to pay it back new money which creates more debt must be created.... (like bitcoin dust, old paper bills and loose change have ended up rotting away) so even if you took all the money in circulation you still would not have enough to pay back every dollar. sure you got good returns in bitcoin, but that does not mean anything, how does bitcoin undo centuries worth of inflation of debt, it is measured in fiat... well to me 1bitcoin=1bitcoin but to most 1btc = $5,500 USD. <snipped preceding quotes> Time tokens would be of little more use than the currency we have. In fact, it's probably a better form of tallying value, and simpler. Imagine having to pay a certain amount of seconds or minutes for produce at the store, which directly correlates to your life. Plus, how would you manage the fact that people have varying life spans? You'd end up pricing things based on a predicted lifespan, but if it's cut short for (reasons), suddenly everything's scuffed in the economic system.Well Gold ends up like the end game of bitcoin, Same with the Oil or Petro you are talking about the simulation is there. Ok sure, more Oil can come into existence but that only takes millions of years, not to mention how horrible it is for us and that atmosphere to be constantly burning. Lets pump the literal "death" into the air we breath that is some good logic. Also the petrodollar is not what is backing the USD, CAD or other fiats, it is just faith that people will accept it. What backs it is literally the people and their work AKA an individuals time and work within blocks of duration, Uneducated people not smart enough to question why they are working for literally monopoly money they just trade it because it has a nice picture on it because instead of leading the pack they just follow it and don`t question it. You see the same in religion so I am not surprised people believe in others thoughts rather than form their own. In that case The Book of Revelation describes a war in heaven between angels led by the Archangel Michael against those led by "the dragon", identified as the devil or Satan, who are defeated and thrown down to the earth.[1][2] Revelation's war in heaven is related to the idea of fallen angels, and possible parallels have been proposed in the Hebrew Bible and the Dead Sea Scrolls. So I killed Satan in my creators kingdom and now I am here to do it on earth, hey you Jewish people and Christians wrote it not me. I don`t even believe in Satan :-* I actually thought of another currency other than time that can replenish over time so we don`t end up with that end game, food like cherries and peaches. Every year more comes into circulation, the only problem is that food gets consumed or rots and only has a short duration life span where as Time/Duration representation tokens only stop being accumulating when somebody dies, not like they need to accumulate anymore then anyways. Now, if there was a way to convert these time tokens into an actual lifespan extension, like that movie "In Time", then maybe you have something going for you. But that's way beyond our current technological prowess. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 25, 2019, 11:05:41 PM Now, if there was a way to convert these time tokens into an actual lifespan extension, like that movie "In Time", then maybe you have something going for you. But that's way beyond our current technological prowess. [/quote] The time/duration tokens create equal distribution. The time/duration tokens stop centralized banks(family's) creating money and create a decentralized medium of obtaining money. The time/duration create the supply in which no one is in debt to it. The tax fees from collecting duration will fund space programs, food, water and shelter and the decentralized government itself. Active voters will be doing a job, which will make them more than base wage, they would get workforce base wage. People enterprising or businesses could earn even more for trading goods and services. Life span in a non factor, sure some people get less time than others on this planet, but you will still earn it at the same rate of "base wage or base time" kind of like minimum wage. Which could either be 1 token every 1 hour or 1 hour itself if you`d like to look it in that way. I could sell produce for 1 token, which represents 1 hour that you obtained from incremental duration being expended into your unique digital passport/address or from your enterprising earnings. I could sell you 10 apples for 1 token which represents 1 hour or 1 apple for .1 of a token which represents 1/10th of a hour. I been going to the market since I was a kid, I am a farmer, I could charge you 2 hours if I wanted for 10 apples or charge you 3 hours for 10 apples, whatever I want, That is up to the seller to decide and the buyer to agree upon or not buy, just like how I could charge you 10$ or 15$. Just like mcdonalds charges $2.50 for a mcdouble, they can charge whatever they want. (e.g. if the average hourly rate is 1 token, then a commodity valued at 1 token in the national currency(time/duration) would be equivalent to 1 hour). I mean just some ideas. I don`t have any system created to do this, but It is possible with tech we have today. I am not a programmer, I am a farmer and pro gamer, top 100 in starcraft2, top 10 in overwatch, top 2 in planetary annihilation, top 1 in heroes of the storm, top 1 in pubg first person solo`s, top 1 huntercoin king killer. I look at the economy as a game now and everything. Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 26, 2019, 12:02:39 AM I guess I better get learning some more programming so I can free my own race and species humans from the $lavery $ystem.
Have a nice day anyone who took the "time" out to watch the video in full, Thanks I owe you 30 minutes of time tokens when I am done the system. I will also be valuing my time at half time that way people that still have the silver back alpha ego gorilla gene in them can feel better than someone else. Don`t worry I take one for the team. https://www.youtube.com/watch?v=kTdaWUDeGsg https://lh5.googleusercontent.com/proxy/XdXLkyFZvnxeREgC1cPUHH20G2m-d2MwrD3ctE0go27kZS824hhVzNaYU2xQZsOdUKJpSmf5nb6194_OvdW9SMQXaD4o_84M7R_BkDMEdjpEUUE4eLnkJmbju_cOMnDc=w1200-h630-p-k-no-nu No that is a representation of a democracy, A true democracy is run by all the people it`s like 3 wolves(or the pack) voting what is for dinner. vote people to vote for you, what a joke. Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 26, 2019, 10:14:33 AM my bars, first song I ever made lol, sorry I am white boy I got no flow.
https://www.youtube.com/watch?v=LrWeGm4KDBM anyhow back to fixing this $cam $lavery $ystem Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 26, 2019, 08:58:16 PM Any top tier members care to give insight?
How does the general public mine bitcoin in the future when there is none left to mine? "well they work for it", you think future generations will think that is fair? you guys got to mine it all and the rest of us have to bust our balls for it? Sure people will get tax fee`s, but why are these tax fees not supporting public decentralized projects that the people vote on where the tax goes? That is the point of tax, our current tax pays for our garbage disposal, roads, police force, hospitals, military and firefighters but, mostly lining politicians pockets to play golf and sleep on the job. If we are all the government we could line our own pockets and vote where the money goes. Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 26, 2019, 10:57:14 PM Caveman Economics https://www.youtube.com/watch?v=U_SVexaSMwk
This is a pretty good system because at the end when we all go to collect our clams the bankers will not have any balls left to reproduce their genes into the pool. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: CryptoBry on April 27, 2019, 02:00:36 AM Your statement about China controlling majority of the hash power currently could change since they might effectively ban crypto mining in their country pretty soon which could help improve the decentralization aspect of Bitcoin. Even though Bitcoin is centralized to an extent, it is still leaps and bounds better than traditional FIAT, gold etc which are almost completely centralized. Hopefully, that decision of the Chinese government to stop Bitcoin mining activities within its boundaries can actually be doing good for the whole industry so that there will be no more concentration of has power in a single country going forward with the ideal decentralized state. Even though I am sure that many Chinese are still into Bitcoin, we should not allow a single country to be a major clout with this industry especially with a government with a closed mind. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 27, 2019, 02:44:58 AM Your statement about China controlling majority of the hash power currently could change since they might effectively ban crypto mining in their country pretty soon which could help improve the decentralization aspect of Bitcoin. Even though Bitcoin is centralized to an extent, it is still leaps and bounds better than traditional FIAT, gold etc which are almost completely centralized. Hopefully, that decision of the Chinese government to stop Bitcoin mining activities within its boundaries can actually be doing good for the whole industry so that there will be no more concentration of has power in a single country going forward with the ideal decentralized state. Even though I am sure that many Chinese are still into Bitcoin, we should not allow a single country to be a major clout with this industry especially with a government with a closed mind. Well they should own 1/3rd of the hashing power, if we are going by populations and that is how hashing power should be divided between governments in the new system. but 81% is a little nutty. Imagine if they united into one pool. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 27, 2019, 03:04:13 AM Your statement about China controlling majority of the hash power currently could change since they might effectively ban crypto mining in their country pretty soon which could help improve the decentralization aspect of Bitcoin. Even though Bitcoin is centralized to an extent, it is still leaps and bounds better than traditional FIAT, gold etc which are almost completely centralized. Hopefully, that decision of the Chinese government to stop Bitcoin mining activities within its boundaries can actually be doing good for the whole industry so that there will be no more concentration of has power in a single country going forward with the ideal decentralized state. Even though I am sure that many Chinese are still into Bitcoin, we should not allow a single country to be a major clout with this industry especially with a government with a closed mind. Well they should own 1/3rd of the hashing power, if we are going by populations and that is how hashing power should be divided between governments in the new system. but 81% is a little nutty. Imagine if they united into one pool. In fact hashing power should be equal from all people using the network, that is how you make fair distribution and fair rewards. Now if everyone is earning time tokens at the same duration, 1 second a second or 1 token a second, it is the same thing, kind of like this www.bitswift.cash , anyone can claim every time that bar fills up. as showing at this time stamp in the video https://youtu.be/Y7TLFyK_3Pk?t=846 Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 27, 2019, 04:45:54 AM https://pbs.twimg.com/media/D5EcH95XkAA11pA.jpg
Wait but where is my supply that can buy anything.... Oh I got work for yours? https://www.youtube.com/watch?v=oMKCDvFSzIA Title: Re: (bitcoin/gold) Limited Supply Problem Post by: ApplePieForMe on April 27, 2019, 07:40:45 AM One interesting argument I've been following is by Peter Schiff who is permbull on gold and quite pessimistic on bitcoin is that you can fork bitcoin and therefore we can't talk about limited supply.
But it wouldn't be Bitcoin, I get it. It would be Bitcoin2 or whatever. However the properties would be the same the only thing it doesn't have is the trust and network right. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 27, 2019, 05:03:22 PM One interesting argument I've been following is by Peter Schiff who is permbull on gold and quite pessimistic on bitcoin is that you can fork bitcoin and therefore we can't talk about limited supply. But it wouldn't be Bitcoin, I get it. It would be Bitcoin2 or whatever. However the properties would be the same the only thing it doesn't have is the trust and network right. There has already been 44 forks https://thenextweb.com/hardfork/2018/05/22/bitcoin-hard-fork-useless/ I got to say, people using or investing in anything like that is silly, It it pretty much like investing into counterfeit fiat. Trading your gold for fake gold. You want silver use litecoin(or another altcoin that actually has more tech features) not bitcoin cash or diamond or private. Infact the guy that created bitcoin cash, Satoshi should sue him for copyright and counterfeiting. Correct, but right now you are leaving 81% trust to the Chinese as that is where most of the hashing power is coming from, I do agree the Chinese miners are 1/3rd of the population and should have 33.3333 of the hashing power but not 81% in one country that is not a smart "decentralized" network, Instead each person on the network should have equal hashing power to provide equal distribution and a network not prone to 51% attacks. But yah, if the fork becomes the main chain that people use, then it does become "bitcoin" Example: (Eth classic is the real eth, but more people use ETH now and ETH is considered the main chain. If the network agrees to reset the chain and go back to before the fork then that would be the bitcoin. It is up to the censuses of the network, just keep in mind 81% of the users in the censuses are from China. That does not appeal to me as I am from Canada and unlike my country they seem to work together better, like a hive mind colony. So it is up to the network to decide what is Bitcoin or "Bitcoin2" From what I understand, maybe another member can give insight into this. Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 27, 2019, 09:15:49 PM One interesting argument I've been following is by Peter Schiff who is permbull on gold and quite pessimistic on bitcoin is that you can fork bitcoin and therefore we can't talk about limited supply. But it wouldn't be Bitcoin, I get it. It would be Bitcoin2 or whatever. However the properties would be the same the only thing it doesn't have is the trust and network right. https://www.youtube.com/watch?v=NSQVVHyvOZU https://www.youtube.com/watch?v=bE15s_v_UWw https://www.youtube.com/watch?v=h_Z-gFR2oEA https://www.youtube.com/watch?v=TrNipeP4HvQ https://www.youtube.com/watch?v=DcG2uACfhSg When I was a kid watching married with children, Roseanne or Southpark and shows like that, I would see about 20-50 of these commercials a day. I wonder why they want to go back to gold standard, THEY OWN IT ALL. Guess what happens when we go back to gold, watch the video at the start of this post, not to mention using a resource we need to make computers and electronics and stuff to go to space as your currency is not the brightest. A year earlier, in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. ... By 1975 Americans could again freely own and trade gold. Yah let`s go back to gold Peter Chiff! ::) Title: Re: (bitcoin/gold) Limited Supply Problem Post by: TimeBits on April 27, 2019, 09:45:54 PM So here is the other Solution.
Everyone create their own token with the same supply. It takes 3 clicks :-* https://www.youtube.com/watch?v=bowyBKPt15U Title: Re: (bitcoin/gold) Limited Supply Problem and Solution ideas. Post by: TimeBits on April 27, 2019, 10:50:49 PM *kicks the hornet's nest* and the swarm is headed towards me..... *shrugs*
https://www.youtube.com/watch?v=HdNn5TZu6R8 our fiat supply with limited supplies vs the fiat with endless supplies "GIVE THEM NOTHING!" NOT YOUR LIMITED TIME, NOT YOUR HARD WORK, NOT YOUR LIMITED SUPPLY FOR THEIR UNLIMITED B.S, YOU FOOLS. me: https://www.youtube.com/watch?v=3NaIs8B0Quk https://www.youtube.com/watch?v=F8ViYsqyZ_E "help me you chickens" Title: Re: (bitcoin/gold) Limited Supply Problem and Solution ideas. Post by: TimeBits on April 27, 2019, 11:18:13 PM Although if Satoshi bought and Island and started his own government and they were only to accept bitcoin with a few changes (to cut power usage and starting distribution sure you get as much as you want you created it I am cool with you being the 1%er), I would do farming for free for us and building/roofing. I am a jack of all trades. Within a year we could all have farmbots feeding us and public housing with backups, people would only have time to commit to building the self sustaining society even more self sustaining and doing the things they love. We could watch the rest of the world like how they watch uncontacted tribes live back in the wood age, it could be our reality tv show. Although we would have to do something when they start launching nukes at each other. Pretty easy, make drones that scan your face and if your not on the chain. PEW PEW YOU LOSE.
Title: Re: (bitcoin/gold) Limited Supply Problem *Light will travel through space ∞* Post by: TimeBits on April 27, 2019, 11:43:36 PM I guess I better get learning some more programming so I can free my own race and species humans from the $lavery $ystem. Have a nice day anyone who took the "time" out to watch the video in full, Thanks I owe you 30 minutes of time tokens when I am done the system. I will also be valuing my time at half time that way people that still have the silver back alpha ego gorilla gene in them can feel better than someone else. Don`t worry I take one for the team. https://www.youtube.com/watch?v=kTdaWUDeGsg https://lh5.googleusercontent.com/proxy/XdXLkyFZvnxeREgC1cPUHH20G2m-d2MwrD3ctE0go27kZS824hhVzNaYU2xQZsOdUKJpSmf5nb6194_OvdW9SMQXaD4o_84M7R_BkDMEdjpEUUE4eLnkJmbju_cOMnDc=w1200-h630-p-k-no-nu No that is a representation of a democracy, A true democracy is run by all the people it`s like 3 wolves(or the pack) voting what is for dinner. vote people to vote for you, what a joke. o btw you know Ancient Greece used to be a democracy https://www.youtube.com/watch?v=dj5VZ0tUhOg , the only reason they stopped is population got to high it was not feasible so they elected representatives. They did not have computers and the tech we have today. it is this simple now https://www.strawpoll.me/17898481 https://www.strawpoll.me/17898472 This is the problem with electoral votes and representation of democracy Example: 100 people in a gym We vote Bill, Ted and Sally to represent us (left, middle, right) (trump, hillary) ( Conservative Party, Liberal Party, New Democratic Party) for this example we will use Bill, Ted and Sally Bill wants to play hockey in the gym Ted wants to play basket ball in the gym Sally wants to play soccer in the gym 97% (if us the people, want to play dodge ball) But now we are stuck playing hockey, basket ball or soccer. or passing the most ridiculous laws ever, so they can line their pockets and us the general public get no benefit from it. *cough* carbon tax *cough* yah when those plants screw over all the farm land good luck guys. if 50.0000000000000000001% of us want to play dodge ball were freaking playing dodgeball or don`t play :) that is fine to. (we can do repolls if it is ever that close)let`s say it is a 50/50 between football and rugby, ok we repoll the same thing 50/50 3 times in a row, leave it to the coin flip baby, just dice it. The genesis block appears on the global wallet and opens its secrets and mystery's never seen before :o :o :o :o :o https://i.ytimg.com/vi/ZlPfDmKARGY/maxresdefault.jpg https://justflipacoin.com/ :o :o :o :o :o :o :o :o ok looks like we are playing Rugby my doods. Title: Re: (bitcoin/gold) Limited Supply Problem and Solution ideas. Post by: TimeBits on April 28, 2019, 02:30:34 PM George Carlin https://www.youtube.com/watch?v=n-p9uTw2xuI (he is right, they will spill ours if we don`t do something, all it takes is a DNA swap and if your blood does not match their blood your race is GONE) or a drone that has a database of face scans. *cough facebook cough*
So let`s say bitcoin replaces fiat, it won`t until we get rid of the governments But lets say in some sort of miracle this happens or we start a new society(we find a island not claimed by the U.N) not ruled by the few and ruled by all, Where we trade bitcoin only. What happens when we mine it all out? do the younger generations need to live on there knees for the elders supply? Why does the younger generation (the ones that will be taking care of the elders) why do they not get a equal chance to mine? Why are they forced into a $lavery $ystem? Where the current system makes it literally impossible to live off the land and have another option because we have stolen all the land and polluted it. Does Satoshi not believe in equality? I will tell you right now, I farmed 50 acres my entire life (small family farm). Peaches, Cherries, Broccoli, Sun flowers, Beans, Cucumbers, Apples, Pears and Nectarines. You are not eating my food supply anymore. I kept well over a million people alive. Someone else can do it this year. This year all my fruit will go to the animals. They deserve it more than you bankers, politicians and military. They create life rather than mass death and enslavement. Anyone who wants to trade their time (doing work on the farm), can eat this year for free. Title: Re: (bitcoin/gold) Limited Supply Problem and Solution ideas. Post by: jpnl0008 on April 28, 2019, 02:44:17 PM in reality, there is indeed no idea that is a waste and the challenges are always implementation and its usage in the real life scenario. when everybody creates his or her coin, there will be loads of controversial uprisings as we still have people who will involve in fraudulent activities of making or cooking up coins that will only be use for one transaction and then destroyed and in such a case what becomes your insurance policy
Title: Re: (bitcoin/gold) Limited Supply Problem and Solution ideas. Post by: TimeBits on April 28, 2019, 04:04:05 PM in reality, there is indeed no idea that is a waste and the challenges are always implementation and its usage in the real life scenario. when everybody creates his or her coin, there will be loads of controversial uprisings as we still have people who will involve in fraudulent activities of making or cooking up coins that will only be use for one transaction and then destroyed and in such a case what becomes your insurance policy What is this insurance policy you are talking about? I never said anything about insurance policy's. Why would they only be used for one transaction? they would be used for your entire life. I can tell you did not even watch the videos, go watch them or have no idea about the concept I am talking about. "will be loads of controversial uprisings as we still have people who will involve in fraudulent activities of making or cooking up coin" Brother what do you think every altcoin is or even bitcoin or even "government" fiat?? This stops it by having a universal passport(fingerprint and photo) attached to your unique address. so you can only "cook up" your own single coin. Which if is created with more supply than mine, I will not value at a 1:1. In which case everyone will get the same start if we all produce 1000 tokens, and if you want to waste your altcoin, buying gucci, supreme and lamborghini's. You will have to work for it back. Title: Re: Government, Bitcoin/Gold Limited Supply Problem, P2P Exchanges and Solutions! Post by: TimeBits on April 28, 2019, 04:59:53 PM So TL:DR I will sum this up fast.
Why vote people to vote for you? (democracy/decentralized voting is here) Why give you bitcoin to another man to exchange with another man? (decentralized p2p exchanges are here) cut the middle man that always gets hacked (mt.gox, quadriga, poloniex the list goes on) and keep the money in your own wallet! Why work for another mans money supply? (anyone can make crypto with 3 clicks on this network) Why use a limited supply that in the end will get us killed and also en$laves our children (watch the simulation) Why use a unfairly distributed supply? (common sense, we all equals here) Why not use time as a currency? it is what really backs the entire system we use today (you work for 8 hours you get 8 tokens(or hours), why exchange time into money?) Why do none of you care? Is this post being blocked again? hello? brothers and sisters are you there? WAKE UP BEFORE IT IS TO LATE AND THEY HAVE ROBOTS KILLING US ALL THROUGH DNA AND FACE SCANS! https://www.youtube.com/watch?v=AtgfzzwoyK4 Title: Re: Government, Bitcoin/Gold Limited Supply Problem, P2P Exchanges and Solutions! Post by: TimeBits on May 02, 2019, 05:12:40 AM I have two workers for me, 1 duration token = 1 hour (collected via universal basic income through duration mining)
1 hour = 10$ or 1 time token (if you feel the need to convert into fiat or the country's base wage) One worker I pay 10$ because they are new or 1 token an hour One worker I pay 20$ because they are experienced or 2 tokens an hour in one hour the first worker earns 1 token in one hour the second worked earns 2 tokens Title: Re: Government, Bitcoin/Gold Limited Supply Problem, P2P Exchanges and Solutions! Post by: TimeBits on May 02, 2019, 05:37:27 AM You know what I sold my soul for as a kid? I asked to be the best counter strike player in the world, I never became the best counter strike "game" player in the world
https://www.youtube.com/watch?v=HcELlXAN31Y Title: Re: Government, Bitcoin/Gold Limited Supply Problem, P2P Exchanges and Solutions! Post by: TimeBits on May 03, 2019, 02:20:17 AM If you could make any economy/token/currency token what would you make? Thought experiment: all of last year's bitcoin history just happened in a parallel universe, and you all have no access to the main blockchain. You do have the source code, and are free to start/join any blockchain you'd like. Which block chain would you invest in? (What characteristics would you tweak from the current main blockhain?) In fact, I guess you should keep a portfolio of coins from several different blockchains. How would you allocate that portfolio? The main tweakable characteristic of the current chain is it's maturation time: Let's call 21,000,000 bitcoin 1 Megatoshi. Then, the key difference between the chains is the "Megatoshi half life": the current chain has a half life of about four years - every four years the number of bitcoins not yet generated is halved. How would you diverge your portfolio in this respect? Would there be sense in investing in different blockchains with the same half life and other characteristics, or will there be only a few different chains, and no two chains will have the same intrinsic characteristics? Note that this has a real impact on the potential growth of your chain - too short a half life (like 10 minutes) means that all the coins are generated too fast, the public doesn't have enough time to join, and your coins will essentially be worthless. A half life of a millenia means nobody can generated hardly any coin, and your coins are again worthless. Four years seems like a magic number (another credit to Satoshi's brilliance), but I'm wondering if in this thought experiment you would want to diversify at all. Perhaps even in this case the masses will converge into a single block chain, simply for the added security in masses that the dominant blockchain conveys. One that is for the people, by the people 1. one with decentralized voting built into it, so we can vote on issues rather voting people to vote for us. (unlimited jobs created for when robots take over, universal basic income) 2. one where the tx fees go to support global projects (garbage,hospitals,self sustaining farms, back up housing for the people in natural disasters,food for the working class, gas for the working class and the decentralized voting allows us the people to say where our taxes go) 3. one with a fairly distributed supply (weather it be equal hashing power to all users on the network or duration dispensed into unique address verified by picture and fingerprint or we could even do blood, via file sharing / and populations? if don`t unite) 4. one with a built in exchange p2p trading(these banks getting "hacked" then getting bailed out by other banks or governments need to stop) 5. one that people would not trade for the current fiat because it is the new fiat 6. one that does leave our future generations enslaved because we mined it all before them (we all should start the race equally no matter if we are born later in life, bitcoin is a 100% premine to anyone being born after 2025 pretty much and watch the ending of huntercoin on youtube the simulation of what happens) 7. one that is not another mans money supply, but everyone creates the supply so it is everyone's 8. one that is not so harsh on the environment and power usage but instead uses the power to good use and does not create waste 9. one that the united nations united to become the "united nation" to create because they are the people to do this and make it work slowly I mean they got unlimited funds already. (and no one needs to give up anything they already own) 10. I would not need another one https://www.youtube.com/watch?v=pvuN_WvF1to I guess us Germans can put it behind and forgive you to ;D, Water under the bridge brothers. Oh, Can we also allow woman to not be forced to wear a shirt over their nipples I mean equality #freetheboob2020 come on there is African tribes that seem fine without that silly law. Plus boobs release stress just by looking at them. ;D There would be a lot less people doing church shootings or blowing up mosque and synagogues if they were looking at some boobs on the drive over. I mean that should be up the ladies if they want to show them or not, just like us men can. I mean if everyone voted on that issue I think it would be like a 90/10 split for yes. :D I would give half of my income to satoshi each time I got some and earned some, he or she or them deserve it, they gave the bankers and governments a out, no one needs to die, and we can start focusing on space exploration that is another unlimited job or what were going to do when that sun burns out. |
