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The value of all altcoins, crypto and ICO's are derived from the value of bitcoin.
It might be fair to say crypto is backed by bitcoin, the way that fiat paper money is backed by gold reserves kept in vaults.
When the price of bitcoin fluctuates, the value of all other crypto/alt/ico shifts with it as bitcoin is the standard by which everything else is judged.
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Interesting post OP. I support what you're saying 100%.
One thing to mention, if it becomes possible to sell in game items through a 3rd party, second hand, market via crypto. While that would be great(!) selling prices would likely be much lower than buying prices similar to how baseball card shops and collectible outlet operate.
If someone owns a baseball card worth $100 they might only get $50 for it if they try to sell it to a shop that deals in collectibles. The same principle could apply to a 3rd party that buys in game items. The only way they could turn a profit is to buy at a lower price than they sell.
It could also open the door to crooks and scammers stealing in game items (which are less protected than crypto) & cashing out via crypto -- basically money laundering.
What might really be cool is if a big name game like "starcraft 3" had micro transactions and all of it was in crypto. That way it would force people to use crypto (which could be much easier and more intuitive than using fiat).
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Some notes.
Charles Rosa versus Mizuto Hirota was pulled out of concern for Hirota's health after a difficult weight cut.
Daichi Abe has highlight reels of himself on youtube, even though he only has 5 fights. I hope he lives up to the hype. Japan could use some heroes.
Any fight that is japan versus korea is likely to be more brutal than normal given racial tensions between korea and japan and their history in world war II.
I'm hoping Rolando Dy pulls the upset. He seems like he REALLY wants to fight in the UFC more than anyone I can remember.
Gokhan Saki has an 0-1 record in MMA but is 83-12 in kickboxing with 59 knockouts. No one knows how good Saki's wrestling/grappling is other than his trainers/sparring partners who aren't likely to say much about it.
Ovince St Preux was originally scheduled to fight Shogun Rua who is a stand up fighter. Now St Preux is facing a last minute change against Yushin Okami who is a wrestler. Don't know if it will make a difference.
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Years ago, one of Bill Gates' declared goals was for microsoft windows to provide users with "information at their fingertips". Microsoft never truly achieved this goal, but google did achieve it to a relative degree with their search engines which could coincide with them progressing from a tiny company started in a garage to ultimately becoming a big international tech conglomerate.
Big data is emerging as one of the bigger tech buzzwords of recent times as engineers strive to find ways to make sense of the petabytes of data generated, stored and transmitted across the internet in digital format.
There is a need and problems to be solved, which could translate to opportunity and monetary success.
Information in an information age could be like the spice in Frank Herbert's Dune series.
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It depends on who carried out the attack. There are three main possibilities.
#1 It was an independent job.
#2 It was carried out by a group that is state sponsored, by a government(north korea, china, russia, etc).
#3 It was an inside job executed by SEC employees or intelligence agencies(CIA, FBI, NSA, etc).
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I don't mind what Jamie Dimon did.
Yes, they manipulate the market to decrease the price.
But they also manipulate the market to raise prices higher.
The main concern is whether Jamie Dimon and the chinese announcement coincided to put pressure on bitcoin devs in order to force them to accept bizarre conditions of the november fork such as the lack of replay.
Future fork conditions are a bigger threat than market manipulation, in my opinion.
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Some notes on this event.
-Fabricio Werdum and Jessica Eye could have injuries that haven't 100% healed. I think Werdum's injury was his back and Jessica Eye might have hurt her neck.
-This will be both Jessica Eye and Paige Van Zant's first fights @ 125 lbs. Jessica Eye fought at 135 lbs and PVZ fought at 115 lbs. Will be interesting to see if that makes a difference.
-Pearl Gonzalez had troubled being cleared to fight in new york due to her breast implants. At one point her fight was canceled before it was given final approval. Hopefully she won't have issues with that this time around.
-Paige Van Zant said she would pass out unconscious trying to make the 115 pound weight limit. She also might have been too small to fight at 135 pounds. Maybe the 125 lb class will be the right fit.
-This could be Paige Van Zant's first fight not training 100% at team alpha male. PVZ moved out to oregen to be closer to her family and is training more with Chael Sonnen and whatever the MMA gym in that area is, might be formerly Team Quest.
-Kevin Lee was one of Floyd Mayweather's sparring partners in preparation for Floyd's recent fight with Conor McGregor.
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There's a chance north korean hackers were responsible. North korean hackers were allegedly behind the HBO hack and game of thrones leaks which occurred recently. They were also allegedly behind sony hack in previous years which led to the premature release of the movie Fury and other media. China hacked US defense servers and stole data on the F-22/F-35 stealth planes years ago, which allowed china to build their own J-20 stealth fighter earlier than they normally would.
The media will likely blame russia for this to keep the "Putin hacked the 2016 elections" myth alive, despite russia not being very active on an international front.
Not certain if blockchain would be a good option for EDGAR. Blockchain may be better at protecting the integrity of information than it is protecting privacy of data. While blockchain may be good for data integrity & accessibility of open ledgers and cargo manifests, a normal backend database may be easier to defend against data intrusion being centralized.
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Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for "spreading false and misleading information" about bitcoin.
The firm filed the report with the Swedish Financial Supervisory Authority against JPMorgan Chase and Dimon, the company's chief executive.
Blockswater said Dimon violated Article 12 of the European Union's Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was "a fraud".
The influential executive last week slammed cryptocurrencies, pushing the digital currency to a three-week low.
Dimon said he would fire an employee who traded in cryptocurrencies for being "stupid".
The complaint said Dimon's statement negatively impacted "the cryptocurrency's price and reputation". It also said Dimon "knew, or ought to have known, that the information he disseminated was false and misleading".
"Jamie Dimon's public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” said Florian Schweitzer, managing partner at Blockswater.
Blockswater said JPMorgan traded bitcoin derivatives for their clients on Stockholm-based exchange Nasdaq Nordic before and after Dimon's statements, which Schweitzer said "smells like market manipulation".
Blockswater works with blockchain-based assets based in London and Austria. http://www.cityam.com/272451/jamie-dimon-faces-market-abuse-report-after-his-comments/Another source: http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments... Jamie Dimon and JP Morgan could face legal repurcussions from their negative statements against bitcoin which were partially responsible for the last drop down around $3,000. If Dimon is penalized it could lead to lower bitcoin/crypto volatility over the long haul. Is it interesting that a decent proportion of crypto volatility could be due to social implications rather than technical ones? |
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Here's an interesting story I would like to share.
During the united states 2016 elections, Kanye West supported Donald Trump. Kanye went so far as to meet Donald Trump at Trump Tower and talk to him personally about issues he thought was important.
Then Kim Kardashian, Kanye West's wife, was tied up and robbed at gunpoint while in a hotel in Paris. Kanye West leaves a concert he's performing at and cancels the rest of his tour to be with his wife.
Now here's where the story gets interesting. Not long after all these events occur, Kanye West goes on twitter and deletes all of the tweets he made in support of Donald Trump. Kanye abruptly switches his stance to anti-Trump like nearly all celebrities and musiciains.
The question is: was Kim Kardashian being robbed at gunpoint a warning to Kanye not to support Donald Trump? Did globalists/central bankers threaten Kanye West's family to force him to change his political stance?
Also could something similar be happening behind the scenes to bitcoin core developers to force them to adopt these increasingly bizarre and irrational "forks"?
What do people think about this?
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I agree with everything OP said.
One question though, can they call it a fork if the network forces everyone to use bitcoin and its alt?
Also if it becomes impossible to move your bitcoin without also moving the bitcoin alt, could that be an additional layer of surveillance/monitoring/regulation via the altcoin network software?
PS - does anyone notice how the only ones who support forks are from china or brand new accounts with less than 100 activity?
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A bike connected to a generator would convert the food and water a person consumes into electricity(as well as the hourly/rate value of what their time is worth).
10 horsepower = 7.457 kilowatts.
If it were possible to build a steam boiler that self heated to boiling point from sunlight & couple it with a steam engine running in a closed loop to preserve water/prevent water loss. That could generate something like free energy without some of the negative drawbacks of solar panels.
For crazy cat lady bitcoin miners, hamster wheels for cats/dogs/mice to run in and generate electricity could be an option.
Junkyards could have a surplus of alternators/induction generators. Jury rigged windmills could be another option.
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I tried to figure out what the more difficult items to obtain with bitcoin were.
This is what I have so far.
#1 Vegetables & fruits.
#2 Meats, chicken, pork, etcetera.
#3 Frozen foods.
There could be a demand for purchasing these types of items via btc/crypto.
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- Very high shipping costs
- Very long delivery time. Truth be told bitcoin fees are lower than wire transfer fees. Walmart is known for having lower wire transfer fees than other places and yet their fees are extremely high in comparison to bitcoin.  Bitcoin has an advantage in delivery time(transfer time), too. Wire transfers take two business days, much longer than the average bitcoin transaction. For bitcoin versus credit card comparisons, some type of btc to card conversion service might be the way to go, if it can be done affordably. Here is another chart containing wire transfer fees for banks and credit unions (compare to bitcoin/crypto transfer fees).  |
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Its possible the socialist mentality of china's ruling body is conflicting with bitcoin/crypto.
Socialists have the mentality that governments solve problems. They also believe the government is the best solver of all issues which plague society.
Crypto having the potential to solve some problems better than a government could undermine the belief that the government is the best solver of problems which isn't a concept that is likely appeal to socialists.
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Bitcoin's value and growth potential could be overall factors of the size of its userbase.
Crypto hasn't yet reached a saturation point where it can be considered fully mainstream. That's where the "buy a coffee with bitcoin" and past push for more mainstream crypto comes from. The idea that there could still be a massive price hike in the value of bitcoin if it becomes more widely adopted. The engineering that went with that campaign in terms of bigger blocks may have been flawed in ways but the underlying financial analysis may have been sound.
Crypto's value could be like the difference between a PC game with a userbase of 500 players and a PC game with a userbase of 50 million players. Being more mainstream could translate to greater revenue, growth and value. If that's true in crypto's case the price could still have plenty of growth potential.
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Interesting point OP.
If more were aware of bitcoin and opportunities, that could translate to increased demand which in turn could boost bitcoin's price. The relatively low utilization of crypto in proportion to the general public could mean bitcoin is still hugely undervalued in contrast to where it would be if it were more mainstream and trending further towards mass adoption.
Many analysts are calling bitcoin/crypto a bubble. Crypto's growth potential could imply its the opposite of a bubble.
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Things that create jobs or wealth, which in turn increases economic spending and raises GDP, will generally boost a countries economy. To give you an example, let's say there are 100 people in china who bought 1 bitcoin in 2011 and sold that 1 bitcoin in 2017 @ $4,000.
That would produce an additional $400,000 of wealth for those 100 chinese. This translates to greater spending in china and an economic boost. It could also create jobs if those who invest in bitcoin and profit use their earnings to start businesses, which also boosts the econ.
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There's a significant amount of politics intertwined in all of the topics McAfee addresses which complicates things.
Paul Krugman's idea about paying people to dig ditches and fill them in, rather than render real or lasting service to society for one. There's a tremendous demand for upkeep of infrastructure, maintenance of mass transit and public utilities. A big demand for homegrown organic food provided by farmer's markets.
Its possible Krugman supports useless ditch digging as his underlying political slant involves destroying the wealth, innovation and productivity of nations. Hence useless dig ditching rather than programs which benefit or raise the standard of living.
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The only real solution to this problem, from the elites' point of view, is to inflate away the debt without destroying the trust in state money. That's assuming the end game isn't a stealth scorched earth policy whereby elites favor global depopulation over economic stability. Years ago a scientist named Dr. Eric Pianka (AKA Doctor Doom) espoused the idea of 90% of the planets human population being wiped out by natural disaster or plague being a good thing for the earth and its natural resources. He was applauded by his peers. One might say politicians insistence on opening borders, raising taxes, higher spending, greater outsourcing of jobs, greater automation of jobs are designed to crash the system and destroy nations. There hasn't been a real effort made at stabilization. Everyday society becomes more fractured and broken. There isn't a counter culture movement in the opposite direction. Any upside occurring as a result of crypto innovation are entirely incidental and unintended. |
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