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Author Topic: Bitcoin Is Backed By Time Itself  (Read 1610 times)
Shady
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December 18, 2016, 03:31:06 AM
 #21

Holding enough of nearly any cryptocurrency will boost your portfolio like nothing seen before. As the future comes in gains stack on and overexceed previous circumstances due to constant growth by the millions of people in the economy.

Time may not do anything until the prices regulate internally.

Lionidas
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December 18, 2016, 04:19:48 AM
 #22

Yeah I never thought of anything backing bitcoin.
Only it's own technology and hype has fueled it thus far.
And has made it what it is until now.Wink
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December 18, 2016, 05:07:19 AM
 #23

 Roll Eyes Never click links in a bitcoin forum!

{ Imagine a sequence of bits generated from the first decimal place of the square roots of whole integers that are irrational numbers. If the decimal falls between 0 and 5, it's considered bit 0, and if it falls between 5 and 10, it's considered bit 1. This sequence from a simple integer count of contiguous irrationals and their logical decimal expansion of the first decimal place is called the 'main irrational stream.' Our goal is to design a physical and optical computing system system that can detect when this stream starts matching a specific pattern of a given size of bits. bitcointalk.org/index.php?topic=166760.0 } Satoshi did use a friend class in C++ and put a comment on the code saying: "This is why people hate C++".
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December 18, 2016, 12:53:34 PM
 #24

Yeah I never thought of anything backing bitcoin.
Only it's own technology and hype has fueled it thus far.
And has made it what it is until now.Wink
Maybe the author speaks about time backing up bitcoins different from your view. The author possibly observed that the longer bitcoin is in the market its price has doubled. Another meaning possibly that time itself is the witness on the stability and the price inflation of bitcoins.

But I'm not setting aside your opinion since it is also a possibility that I have misinterpreted the idea that the author implies.
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December 18, 2016, 12:58:20 PM
 #25

At the very root of what makes the bitcoin network tick, is a regulatory algorithm which determines that new blocks of bitcoin will be mined on average every 10 minutes. These ‘uncheatable’ maths which are intelligently constructed by system design, ensure that nothing can alter the predetermined issuance rate, nor the block size halving rate, of bitcoin.

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Yeah, since bitcoin created to generate through mining process which mean processing bitcoin transaction by miners that use special software to solve math problems and are issued a certain number of bitcoins to put  into new block. Creating new blocks to "earn" more bitcoins than it mean bitcoin regulated by time itself and scheduled just 21 M in circulation, time and limited supply that makes bitcoin worth as time goes on.
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