Old technology with a new name.

Sell out your brother so that you can posses his land.

Satoshi Nakamoto = Hand crafted avatar

A figment of your imagination so that you may act as a proxy for an entity that does not like to get it's hands dirty.

Instead it recruits blank minds and trains them from the ground up.

As Bitcoin emerged from out of nowhere it was quickly given the title of "decentralized king".

A tool against the centralized world of banking to give the power back to the many to correct the errors of the few.

Under the guise of Libertarianism, Bitcoin's aim is to become the monetary base of a new technologically enslaved society.

A digital gold of some sorts that will pave the way for a centralized free world.

Eight years later it unfortunately seems to have taken a wrong turn somewhere.

The Bitcoin ecosystem itself resembles that of Wall St. from fake news all the way down to the constant emergence of penny stocks known as Alt Coins.

Each one promising a technological advantage over BItcoin when in reality "investors" already know that it is merely a scam to inflate the egos and pocketbooks of Bitcoin exchange owners.

Sniff around in this forum and Bitcoin news outlets and you won't have a hard time finding articles where BItcoin advocates jump for joy over the potential backing of a large corporation or huge financial institution.

Read enough of these and you may start to think that Bitcoin itself is merely and arm of the banking/corporate elite.

Perhaps a trial balloon of some sort that was crafted long ago and spun into motion with the hopes of special interests taking over the monetary system for good.

If it failed they could quickly step away and blame all the gullible investors for it's downfall.

If it succeeded they could once and for all bypass all the laws and rule of government and gain full control over their destiny.

Regardless of the outcome it is clear that Bitcoin has turned into something that isn't quite what it promised to be.

With all this in mind I have started to come to the realization that Bitcoin failing may be the Black Swan event that triggers the downfall of modern banking.

Not because of it's disruptive technology but because if it's failure to latch into the minds of the people.

If Bitcoin is in fact an arm of the most wealthy institutions in the world then the failure of it would be quite a blow to the future of such institutions.

Is there anything on the horizon if Bitcoin fails?

Some of you may want to consider the possibility.

Especially with the way things are shaping up politically in the world.

From the European Union cracking up all the way to the potential equities fallout generated by the upcoming U.S. election.

It is clear that the population of the world is not going to take kindly to any banking system that emerges that is not in their interest.

Bitcoin's quick jump to what appears to be quasi centralized does not sound good for the future of Bitcoin.

With the reported Chinese monopoly on mining and large exchanges controlling the worth of Bitcoin I can't see how this is going to play out in favor of the digital currency.

Not short term at least.
















 

Overall your fears are warranted.

People should always remember what happens when things fall out of balance.

Why do you think Bitcoin is here in the first place?

As far as your claim about stones and toilet paper I half agree.

People will realize that the USD would make good toilet paper.

The day that they call gold "just a stone" however would be a sad day.

They might need to be reminded that following contain gold:

-Mother Boards
-Graphics cards
-Hard drives
-CPUs
-Servers
-Tablets
-Smart Phones

All of which are used to facilitate the mining, transaction verification, and campaign propagation of Bitcoin (via the internet) and all of its derivatives.

If gold is worthless then miners don't mine which means raw materials vanish into thin air.

I would argue that such countries that forbid gold as you say are not actually forbidding.

Do they have any electronic devices in these countries?

If so then they welcome gold with welcome arms.

It's not so much a factor of what is better.

It is more of a question of who needs who.

Without Gold Bitcoin would not even exist.



You see those contacts?

You will see that sort of thing in virtually all things that allow you to transact Bitcoin like:

PCs
Tablets
Smart Phones
Servers
GPUs

This is not speculation it is a cold hard fact.

One would be wise to carry gold in monetary form.

This, along with many other commodities, is the lifeblood of Bitcoin.

It should never be taken for granted.

The most practical use of ETH is to line Poloniex's pockets with fees.

Nothing more and nothing less.

Nope....scripts reign supreme.

Maybe upfront there was alot of work.

After that they just have their staff run PR and help tickets.

Full time job running their support.

You'd be better off buying Bitcoin.

Automate yourself and get a job.

Use the proceeds to acquire Bitcoin.

For those of you who think that Bitcoin is unhackable I urge you to think again.

I am not not talking about traditional hacking as in a hack against the core software.

I am talking about perception.

HACK:
http://www.dictionary.com/browse/hacked?s=t

Many people overlook this unprotected area of Bitcoin and may not have contingencies planned out accordingly.

These are just a few examples of how Bitcoin's image gets hacked.

http://www.wsj.com/articles/in-the-bitcoin-era-ransomware-attacks-surge-1471616632
http://money.cnn.com/2016/08/03/technology/bitcoin-exchange-bitfinex-hacked/
http://www.coindesk.com/european-union-proposes-tighter-bitcoin-controls-panama-papers-response/
http://www.coindesk.com/us-treasury-bitcoins-use-to-fund-terrorism-remains-unclear/
http://www.smh.com.au/world/australia-to-regulate-bitcoin-under-counterterrorism-finance-laws-20160808-gqnne2.html
http://www.defenseone.com/threats/2015/02/terrorism-finance-trackers-worry-isis-already-using-bitcoin/105345/

Remember that Bitcoin's inherent disruptive nature (technology disruptor) adds to the already uncertain global financial stage.

With this in mind I would like to point out an alternative for you to consider when Bitcoin's image is under attack.

Gold and silver has been around for a long long time and many of you are already aware of its existence in bullion form.

However, some overlook the fact that gold and silver provide the physical backbone of Bitcoin's existence.

That equipment you use to mine Bitcoin contains gold and silver.

That PC, tablet, or smart phone you are using to make transactions with or make a trade contain gold and silver.

In the form of gold plated contacts down to that Rohs compliant solder which contains one of the best conductors in the world (silver) precious metals are there to help make Bitcoin tick.

Without the precious metals and a host of many other raw materials Bitcoin obviously would be nonexistent.

Unlike the other raw materials, precious metals has been monetized for thousands of years.

They have always been considered a safe haven in times of uncertainty.


Here are just a few of the perks of expanding your portfolio into precious metals:

-Gold and silver has been backed by governments around the world since the 1980's. The United States, Canada, Mexico, Australia, China, Great Britain, and Austria are all countries that have put into law that they must provide it's citizens with gold and silver bullion as needed by demand.

-Precious metals can be used in Individual Retirement Accounts (https://en.wikipedia.org/wiki/Gold_IRA)

-You can protect your hard earned Bitcoin profits from exchange related hacks that cause the Bitcoin price to plummet unexpectedly.


If you are interested in exchanging Bitcoin for precious metals in attempt to solidify your investment portfolio do a google search and you will be sure to find some reputable dealers that offer up such a service.

https://www.google.com/#q=buy+gold+with+bitcoin

Only a fool puts his/her eggs in one basket.

At the moment Bitcoin is not as strong as people think.

If the wallets go offline it is over.

If the exchanges continue to get hacked it's over

If any of the fiats strengthen it is over.

If the huge mining farms go offline it is over.

If the governments release their own "Bitcoin" it is over.

No it is not a good way.

Bitcoin is aiming towards a servile relationship with governments and banks.

But if you like storing your money with those two characters then I guess the answer is yes.

Stay on the sidelines for now.

Unless of course you want to be someone elses liquidation.

All stops about to be pulled out.

What do you say?

It seems Clinton being all in on Goldman Sachs will be for Bitcoin.

Trump on the other hand seems to have something else in mind.

Nope.

Put it away.

The party is almost over.

Better get all the scams you can get in while you can.

Time is just about up with the deception.

Golem project sounds like another attempt to get more of "my precious".

I'll pass.

Bitcoin: the youths approach to print their own currency

Nothing new under the sun....

Do you agree with Poloniex's usury supported platform?

Does it harm or help the Bitcoin ecosystem?

Place your comments below.