What a fucking moron that guy. Stealing bitcoins and instead of using it for something worthwhile like idk, doing something about his physique (no fatshaming), he used it to tip hoes? That was rich. Classic old case of "If I have more money more girls will talk to me", although wouldn't really put that much blame to him since he admitted to his crimes and because well, he's mentally disabled.
Hmm, could it be that this has something to do with Bitcoin struggling to keep above the $30k?
why not ask for those bitcoins to be returned to the exchange or platform they were stolen from? Something something legislations, they need to liquidate the assets first in order to properly audit it and file on their reports, AFAIK they also need to determine the exact denomination of the coins in today's dollar value which is why they are also converting bitcoins into cash. |
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Fhe US isn't really big on outright banning the cryptocurrency giant. What it could be looking for is total control over bitcoin, hence why so many bills and regulations are being reviewed in the congress. In any case, I do think that this just makes China the better country to have their ban lifted even though looking at it the ban pretty much did nothing to stop chinese cryptocurrency users from ever using bitcoin and other currencies. So I'm guessing this lifting of sanctions is more ceremonial and less ahout removing strict parameters set in the past.
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When your whole economy is tied with a currency, there's little to no possibility of you outright removing yourself from said currency. Plus all current economic situation and paradigms are set in the fiat standard, so an upheaval of the system is not only unnecessary, but is severely detrimental to that country's whole econonomy.
Picture this, you're in a classroom setting, where everyone's expected to use an inexpensive notebook, only for one day be told that you'll be ditching the notebook in exchange for "a more advanced tablet pc", with you and each and everyone of your classmates shouldering the costs, not only will you be livid, you'd probably gonna end up broke too.
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Wouldn't it be better if lost coins were reintroduced into the network after a fixed span of inactivity?
I suppose the first thing one would say no for, would be by virtue of bitcoin's well-known deflationary property. This said, I believe it is much more important, especially in the longest term, that bitcoin keeps its property of conservation of energy, that is, having a fixed quantity of money ever available. By losing coins, instead, and by having them unrecoverable, we have not a fixed quantity of money available, rather a decreasing one, which is why we call bitcoin deflationary.
What would happen if we would make so that coins with 131 years of inactivity would be reintroduced into the network?
I see this having some positive effects:
- decreased impact of hereditary monopoly
- incentive to let the currency flow
- canceled the future necessity to increase the number of decimals for 1 BTC (very-long term perspective: too many coins have been lost, thus the necessity to further subdivide a coin)
The idea could be considered since mining and facilitating transactions is directly correlated with the current supply of bitcoin, so reintroducing lost crypto back to the market would spell good things for industry. Although it must be said that this only works if the supply is slowly increased, as flooding the market with lost bitcoins (if that's what you're going for) is a downright death wish. It will severely dilute bitcoin's value, and will cause multiple bank runs that could definitely end with bitcoin crashing. Although in retrospect, with Satoshi Nakamoto gathering dust from elsewhere, who do we expect to do this for us? |
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Highly depends on a couple of factors, but it all mainly boils down on whether you'd be willing to store trash and possibly waste matter in your background.
A couple of small-time bitcoin miners with 1 or 2 rigs have been able to work everything off of biomass, which seems to be the closest thing to what you're looking for. There are also other companies and entities like Jenbacher who offers biogas and other energy resource solutions to people who are looking to make their energy consumption a little more cheap and sustainable.
As for Nigeria, I do think that the country's one of the best ones when it comes to harnessing biogas. Situated in a temperate climate, the decomposition process will be a cakewalk.
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Cold wallets /hardware wallets are tje way to fo if you wanted to be as secure as possible. Plus the fact that they are easily available for purchase on the internet makes them one of the most efficient items you coild buy with your money as a cryptocurrency investor.
I also promote the use of a laptop over smartphones since they have that portability for a PC figured out without the compromise that smartphknes are forced to go through, meaning when you do your crypto things, you can do ut as efficiently as possible. Doesn't have to be just regular crypto tasks, as some high powered laptops could even run mining softwares hut I digress.
Utmost security, hard wallets are the way to go.
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Back in the days, losing money is disempowering to me. Whenever I'm down to my last dime I always feel sad and lethargic. I don't go out of the room, I sulk, and I work on stuff until I get that pay and feel a little better eventually. All I can say is that losing money will lead a person to two things, either they find the most outrageous ways to earn it backxand get money, or they give up and succumb to the worries of life. I think I'm happy that I fell in the middle ground where after some time of sulking and consoling myself I get back on the grind.
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In a way they do. But not in matrix-wy ways as you think it is. Although it kind of borders along that ballpark too. Anyway. The banks' in charge of creating more wealth for the people in rhe upper echelon. That is why they have people take out loans, and then lower the interest rates to further entice them into taking that loan for whatever purpose they would use the money for. And then from there, the magic begins. Money is made, and people are already paying the rich.
They also could control inflation by withholding the creation of new wealth. For one. They can jack interest rates as high or as low as they please.
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A coin's value doesn't change just because its competitor decreased in value, as in the cass with bitcoin and the dollar. To some tuis may soind stupid, but let me give uou an analogy to paint a better picture of why I think it's not what you think.
Suppose you guys are selling mangoes, you sell for two different countries, and one of them dropped significantly in value, from let's say 2 coins of that country to 4 coins per mango.m, while country b rerains its value.
In rhis analogy, bitcoin is country B's coin, and the Mango is the reference point. Sure mangoes in country A may have been more expensive, but since in country b it's still the same, the depreciation of country A's coin didn't equate to a better economy boost for country B.
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That's practically a miracle these days. Quite hard to pull off something like that considering that bitcoin's supply is consistently depleting. Your best bet is still to have multiple miners running because you don't earn anything from validating blocks on bitcoin, you earn something when you find a bitcoin block. Not saying that solo mining is not goox anymore. For all I know it's still as profitable as ever, but the problem lies in whether your rig is powerful enough. If it isn't, you're toast.
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Might I just add here, Discipline.
You can have all of those things you listed down and more, but the ones who really prevail as entrepreneurs are those who have the discipline and drive to keep going and not mess their whole system up. I saw business owners shoot themselves in the foot with wacky business ideas and unsustainable business practices. I saw businesses with no right to prevail and had still succeeded because of discipline and perseverance alone. There are so many people in the entrepreneurship field, create an edge by being the last man standing
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Sure — but what's the big deal? I can also call myself an Apple investor by owning a fraction of Apple stock and I can also say I'm an investor in the top 500 US companies by holding an S&P500 ETF.
Good for you for owning some BTC though.
Lmao exactly. Everytime I see a post like this, I'm stuck between congratulating them for taking that step and finally investing in bitcoin but at the same time some of these people feel like they should be given a parade or smth. In any case I don't wanna sound so cynical or negative about it but yeah. Just a little weird for me sometimes. I'd let it slide too if he had held a considerable amount of bitcoin too, but 0.0045 is a little insignificant? Oh well, let's just hope he keeps at it and expand what he already has now. |
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Forgive me for sounding like a pessimistic douche but here goes anyway, and I truly mean this as a form of constructive criticism to help you make more creative and fruitful discussion in this forum.
People wouldn't be convinced with metaphors. We're not living in the Victorian era where you can swoon a pretty lady by tossing a fucking rock at her window and singing her songs. There is a good and understandable reason why people aren't with bitcoin as of the moment. It's not because they just don't want to out of pure hate and spite, it's because there's a massive risk they just wouldn't be able to take. Informing the people of what bitcoin really is, along with its benefits and risks is better than telling people that "bitcoin is like this, because" so on and so forth.
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Depends on where you live and how much stuff is from your area. For instance, in the Philippines 1 bitcoin is a huge amount, and there's a huge chunk of the population in that country that had never earned nor will ever earn that much. But in the states, you'd probably get laughed at for flaunting $30k. Owning one would simply give you profit no matter what year it is, if it is possibility as the bottomline. Bitcoin has a limited supply and if demand would continue to increase, same thing would happen on its market value, meaning, profit. Making you rich? Depends on you view 'coz profit will be only limited to the market price of Bitcoin in this case, and if you think you could buy anything you would want to in such price as well, then you're good as rich (we have different viewpoint in the first place; some would go with luxury things to determine wealth, but some are just okay with the "minimum"). No one knows in the first place how much its value could reach, sky's the limit.
Point taken. Profit is profit as the copium huffers say. Although there's some truth to it. It's better to bank on and invest today rather than wait "Until the market's better" and completely miss out on important pumps and dips. |
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exactly. atlhough i hate to say this but as of now it is not a bad thing to use bitcoin as a currency or for payment methods. in short, since it is still at an early age it is serving its purpose as a currency, but i know for sure when the time comes it'll be a big regret to use this a currency coz even now a lot of people are already regretting using it due to the fact that it can be a store value.
I think you misconstrued my last post, although I wouldn't cross out your statement because well, it's not that wrong. Let me just clear up a few things. - Bitcoin is not being used primarily as a currency right now, but as an asset or commodity for earning more money. Sure there are whole countries that dedicate their whole economy to using bitcoin as a form of currency but for the most part, it's being used to earn money.
- I don't see the reason why people would regret using bitcoin to pay for stuff, like of course it's profitable when held but sooner or later you'd spend it on something anyway, why wait? The bull run? Hardly a good reason.
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It's because you see bitcoin as an asset, not as a leverage. The main reason why we're pushing for global adoption is not to make everyone an instant millionaire overnight. That just wouldn't make sense. The reason why we're doing so is because well, to offer the people a better form of currency system woth paradigms that aren't stepping on their necks.
Still, being uncomfortable with spending bitcoins isn't inherently a bad thing, it just goes to show where your priorities are in the industry.
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Nothing is entirely lost in the bitcoin network, only inaccessible. As is the case for when people forget their seed phrases, privste keys, or passwords. The coin is pretty much still there, just out of the user's reach sadly. Now, the story goes different when we're talking about hackings and bitcoin theft. Which of course depending on the scenario, could either mean that you'd still be able to get a hold of your stolen bitcoin(s) in the process or those are gone forever and you bave to love on. It's all situational really for one to consider a bitcoin lost.
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The allegory is a little bit of a stretch but I could understand and make sense of what you mean. Financial Literacy and Freedom isn't a one-time bigtime process anyway, that just because you read tons of books about finance and how to save money you'd finally understand the secrets to effectively managing your finances and earning a lot of money. It doesn't work that way. There has to be experience for it to effectively happen else it will all be theoretical work. It's not only about finance, but life as a whole, relationships, family, etc. Everyone starts without any idea of what they will do, but that's the art of problem-solving. As a human, we can think and solve our problems and then draw conclusions about what's best according to our experience. It's not necessarily worked for everyone since it's a personal experience.
The most important thing is you think and you try to finish the job and get the job done. Do it every time for every task and you'll finish your finance puzzle perfectly.
I would agree. We're basically born to rawdog life itself coz no definitive blueprint, secret, or guide is available that will always work for everyone. Decisions you make may go awry and backfire but the most important thing is that you learn and improve. |
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"International permission"?
There is actually really an international atomic organization that has very strict rules on how an nuclear power reactor has to run. Yes they have no right to enforce it, but actually basically all countries do comply with those rules, because if you do not comply in your own country also other countries will stop to comply. And if the reactor in your neighbor country explodes it becomes also your problem very quickly... You have a serious misconception of what the IAEA is and does. A good place to start is here. Established in 1957, more than anything it is a clearinghouse of research and real-world facility operations databases covering all aspects of nuclear programs involving power generation and *other* uses. Because of the open flow of information between researchers along with industry and government representatives, yes it has countless whitepapers covering what should be best practices in design and operations but there are no guidelines per-se. It is a (theoretically) non-political, independent and globally recognized 3rd-party monitor of nuclear programs. The IAEA has zero say in the licensing processes. That is entirely up to each countries governments. Same applies to said governments even allowing IAEA access to information about their nuclear programs. Exactly. IAEA isn't a licensing organization, but a congregate that enforces the use of clean and safe nuclear energy, while at the same time inhibiting potentials for its use in advanced warfare. Ultimately yes countries can choose to disregard decisions made by them but since this is a scientific organization not entirely tied with the US, they literally have no reasons to not follow its strict rules, lest they want Chernobyl 2: Nuclear Boogaloo. But I digress, point is, the power plant is operational, the bitcoins are getting mined using Nuclear Energy, and everyone is relatively happy at this point. Well save for the radical environmentalists which I suspect are putting up signages and banners outside the doors of the building telling everyone off and exposing how "bad" the bitcoin industry is lmao. |
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