A cryptostar in a galaxy far far away

[johnyj]

The cryptocurrency industry can be regarded as a cryptostar in a galaxy far far away. No man on earth could reach this star in his life time, people can only communicate this star through internet

Each cryptocurrency represent a country on this star. Buying cryptocurrency is like buying land of each country

Why would people on earth to buy lands in a star far far away?
1. it is delivered right away and you have full control and ownership once you have the key
2. the star is far away from earth thus secure from earth violence
3. the limited supply ensures its exchange rate will rise against forever-increaseing fiat money supply

[Zicadis]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

[kemoglo]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I think he's just being poetic. Let him enjoy himself! You go my man, be the change you want to see in the world by making star wars euphemisms more common

[chennappa121]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I think he's just being poetic. Let him enjoy himself! You go my man, be the change you want to see in the world by making star wars euphemisms more common

Yes you are right the OP said that how current crypto currencies work and how it is safe and more thorough poetic way.  so I think some people understand what OP indeed in their poet about crypto.

[Debonaire217]

This would probably depend on the perspective of the person regarding crytocurrency, as what I thought about it, it isn't like a real estate that we think of the price to always increase. Not every cryptocurrency total market supply is limited, there are crypto that doesn't have a fix volume such as Ethereum. In this case, my conjecture about cryptocurrency compared to a galaxy is that, there are some galaxy that hasn't discovered yet, meaning to say that there could be cryptocurrency better than what we have today that is still not made at this time or simply, in continuous development.

[mk4]

Some of the people in the cryptocurrency demographic(especially Bitcointalk and Reddit r/bitcoin and r/cryptocurrency) surely are the weirdest and cheesiest posters I've seen of any other industry or community. It's like some of you people are high as fuck all the time LOL.

[bounceback]

there are some galaxy that hasn't discovered yet, meaning to say that there could be cryptocurrency better than what we have today that is still not made at this time or simply, in continuous development.

do you mean that in the future there will be coins that are better and more valuable than bitcoin? I don't think so, because if we look at it today, bitcoin is very valuable compared to all altcoin and other coins and so far bitcoin has really affected the price of all coins.
although bitcoin is the first cryptocurrency but the bitcoin protocol will continue to develop updates in bitcoin so that bitcoin will continue to be valuable.

[jossiel]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I have no idea of what he's saying. He's comparing crypto is like a star from other galaxy which is very far. I don't see the sense of that comparison but maybe his imagination is beyond that we can't even get what he's saying.

It's weird and it's the very first time that I've seen someone said a thing like this.

[johnyj]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I have no idea of what he's saying. He's comparing crypto is like a star from other galaxy which is very far. I don't see the sense of that comparison but maybe his imagination is beyond that we can't even get what he's saying.

It's weird and it's the very first time that I've seen someone said a thing like this.

Just an analogy, somebody has already been selling land on Moon for years, but obviously it is less secure and ownership is no guarantee
https://www.lunarland.com/

[jossiel]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I have no idea of what he's saying. He's comparing crypto is like a star from other galaxy which is very far. I don't see the sense of that comparison but maybe his imagination is beyond that we can't even get what he's saying.

It's weird and it's the very first time that I've seen someone said a thing like this.

Just an analogy, somebody has already been selling land on Moon for years, but obviously it is less secure and ownership is no guarantee
https://www.lunarland.com/

Who on Earth owns a land on moon? I don't get it mate sorry but I don't really understand and can't see the sense of this.

I wouldn't bother to click the link either.

[Artemis3]

Just an analogy, somebody has already been selling land on Moon for years, but obviously it is less secure and ownership is no guarantee

Who on Earth owns a land on moon? I don't get it mate sorry but I don't really understand and can't see the sense of this.

I wouldn't bother to click the link either.

International law has something along the lines of "space belongs to all and therefore to none" so without private ownership possible. BUT, who is going to enforce that?

This discussion will return someday once more Moon and Mars projects advance. Right now it doesn't seem to be an issue, whenever you land and roam around you can place your colony, whatever. But who owns the Moon or Mars, or parts of it? under which jurisdiction?

What if i send a ship to the asteroid belt and find myself a gold asteroid? Who does it belong to?

Anyway the analogy with crypto coins doesn't fit really well.

[johnyj]

Just an analogy, somebody has already been selling land on Moon for years, but obviously it is less secure and ownership is no guarantee

Who on Earth owns a land on moon? I don't get it mate sorry but I don't really understand and can't see the sense of this.

I wouldn't bother to click the link either.

International law has something along the lines of "space belongs to all and therefore to none" so without private ownership possible. BUT, who is going to enforce that?

This discussion will return someday once more Moon and Mars projects advance. Right now it doesn't seem to be an issue, whenever you land and roam around you can place your colony, whatever. But who owns the Moon or Mars, or parts of it? under which jurisdiction?

What if i send a ship to the asteroid belt and find myself a gold asteroid? Who does it belong to?

Anyway the analogy with crypto coins doesn't fit really well.

If your space ship could reach that gold asteroid, you might have a claim on its ownership, but soon your government or even another warship might come to you and grab it, there might be a war break out for this little asteroid. This means the ownership of something that is reacheable by physical violence is always uncertain, unless you have the dominant violence

However, for a star that is far away that the physical violence on earth is not able to reach, things become different. And currently cryptocurrency space is getting close to this status. Of course there are still ways to compromise a blockchain, but it is quite difficult, similar to sending a war ship to Mars. And even better, a blockchain, once destroyed, leaves nothing valuable, this greatly discourage any kind of attack

[adzino]

The cryptocurrency industry can be regarded as a cryptostar in a galaxy far far away. No man on earth could reach this star in his life time, people can only communicate this star through internet

Each cryptocurrency represent a country on this star. Buying cryptocurrency is like buying land of each country

Why would people on earth to buy lands in a star far far away?
1. it is delivered right away and you have full control and ownership once you have the key
2. the star is far away from earth thus secure from earth violence
3. the limited supply ensures its exchange rate will rise against forever-increaseing fiat money supply

I get it what you are trying to say, but did you even think a bit before writing/posting this over here? Weird comparison but yeah.. Ok.

1. True, you get your coins right away and have full ownership as long as only you control the key, but once you lose the key, there is no way you are going to get back your precious "lands" (read coins).
2. If I am not wrong, you are talking about crypto currencies right? Like you are comparing bitcoin with a star? Your second point kinda makes no sense at all.
3.I don't see any correlation between fiat money supply and the exchange rate of the coins. Again, increasing fiat money supply would end up being a disaster. Good luck keep up with the inflation with the increase of sudden money supply.

[johnyj]

Why would people on earth to buy lands in a star far far away?
1. it is delivered right away and you have full control and ownership once you have the key
2. the star is far away from earth thus secure from earth violence
3. the limited supply ensures its exchange rate will rise against forever-increaseing fiat money supply

I get it what you are trying to say, but did you even think a bit before writing/posting this over here? Weird comparison but yeah.. Ok.

1. True, you get your coins right away and have full ownership as long as only your control the key, but once you lose the key, there is no way you are going to get back your precious "lands" (read coins).
 -- A responsibility you have to take for having true ownership. You can also put this responsibility to other organization, which is similar to government, and you lose the true ownership

2. If I am not wrong, you are talking about crypto currencies right? Like you are comparing bitcoin with a star? Your second point kinda makes no sense at all.
-- It is about the blockchain technology see below

3.I don't see any correlation between fiat money supply and the exchange rate of the coins. Again, increasing fiat money supply would end up being a disaster. Good luck keep up with the inflation with the increase of sudden money supply.
-- fiat money supply generally increase the total fiat income of the whole planet, and that will raise the exchange rate of cryptocurrency since the buyers are getting more fiat money each year

Actually this thought just came over me when I  saw this a few days back:


https://www.reddit.com/r/Bitcoin/comments/f6a08u/wise_quote_by_wei_dai_bitcoin/

[Reid]

Man! That was deep! 
We could all see that with your avatar and personal message but you don't need to go this far. 

I read over and over about your last post regarding the government control.
What can we do about it? Nothing. Will someone step in the government to say this is enough?
Will a new senator will just say give the people their freedom? I don't think so.
That means taking out their salary. 

But we are still given the free will to choose. And I know what I want.

[adzino]

-snip-
3.I don't see any correlation between fiat money supply and the exchange rate of the coins. Again, increasing fiat money supply would end up being a disaster. Good luck keep up with the inflation with the increase of sudden money supply.
-- fiat money supply generally increase the total fiat income of the whole planet, and that will raise the exchange rate of cryptocurrency since the buyers are getting more fiat money each year

Actually this thought just came over me when I  saw this a few days back:
-snip-

You probably are not thinking right. The price of Bitcoin/cryptocurrenies might increase, but you "won't" be able to buy "more". The sudden increase of fiat money will cause the aggregate demand to increase (a shit on the right curve takes place) but the amount of "goods" (output) remains the same. This means that more people will be chasing the same amount of goods, thus causing the price of the goods to increase at an abnormal rate. This ultimately means that you won't be able to buy more instead, there is a chance of you being able to buy even less than  before. In the long run its just going to cause inflation.

[pakhitheboss]

Is it just me, or does anybody else have no idea what this guy is saying?

Are you pitching some sort of idea or what? Definitely needs to be made clear as whatever you just said currently makes no sense.

I am sure this guy is high on something. Whatever he said I did not understand a single bit of it. If he is trying to poetic then this is the worst poem I have ever read. If he is fantasizing about cryptocurrency after watching a sci-fi series or movie then may god help him.

[johnyj]

-snip-
3.I don't see any correlation between fiat money supply and the exchange rate of the coins. Again, increasing fiat money supply would end up being a disaster. Good luck keep up with the inflation with the increase of sudden money supply.
-- fiat money supply generally increase the total fiat income of the whole planet, and that will raise the exchange rate of cryptocurrency since the buyers are getting more fiat money each year

Actually this thought just came over me when I  saw this a few days back:
-snip-

You probably are not thinking right. The price of Bitcoin/cryptocurrenies might increase, but you "won't" be able to buy "more". The sudden increase of fiat money will cause the aggregate demand to increase (a shit on the right curve takes place) but the amount of "goods" (output) remains the same. This means that more people will be chasing the same amount of goods, thus causing the price of the goods to increase at an abnormal rate. This ultimately means that you won't be able to buy more instead, there is a chance of you being able to buy even less than  before. In the long run its just going to cause inflation.

Like buying land in NewYork or very populated capitals, the lands are mostly sold out, the only way to get a piece of land is to first find someone who want to sell because of some situation and then raise the price to defeat other bidders

My point is, unlike NewYork or other big cities, the land on cryptostar is very secure from any kind of violence. Of course those lands are not able to provide some physical usage like on earth, but besides physical usage, human still have lots of other demands, being secure from any kind of violence itself is already a demand, and another demand will be investment return

You can compare this to investment in some developing country, it could be food production or car construction, the final result is that your capital gained

Why did your capital gain? From a micro level, it is because you did some production/service for the people in that country at a low cost and you get very good sale. But from a macro level, your business will be very difficult to generate any return if the money supply in this country did not increase

So, the ultimate reason that your investment generated return is because:
1. You produced something that have a high demand in this country
2. The country have increasing money supply

Now to this cryptostar, it is similar, the star's land have high demand, and increasing money supply from earth. If you could produce land for this star (mining), you will get a good return, or you just simply buy and hold land, because anyway not so many land left for producing

[FlightyPouch]

Ok, that is cheesy. 

2. the star is far away from earth thus secure from earth violence

This one is the worst. Let's use what you've said. Even though this star is so so far away, people know about this and want to make a life of their own. The problem is that some of them take advantage of it. Saying that they can access the star through them but it was a ploy for them to take away the money of that person. Despite the distance of this star, they are taking advantage of it and I cann see that it is being violated already.

[White_Hat_LP]

The cryptocurrency industry can be regarded as a cryptostar in a galaxy far far away. No man on earth could reach this star in his life time, people can only communicate this star through internet

Each cryptocurrency represent a country on this star. Buying cryptocurrency is like buying land of each country

Why would people on earth to buy lands in a star far far away?
1. it is delivered right away and you have full control and ownership once you have the key
2. the star is far away from earth thus secure from earth violence
3. the limited supply ensures its exchange rate will rise against forever-increaseing fiat money supply

This will help:
While Skywalker fights the Empire for most of his adult life, Orwell fought fascism for about six months. On the morning of May 20, 1937, he was standing on a parapet in near the front line. As he spoke to some of his comrades, a sniper shot him through the throat.

As he fell, his head ricocheting off the ground, I doubt Orwell took much time to reflect on the funding of the war in which he fought. But even though a bullet costs something like $0.25, that single cost can determine life and death.

The Republic was, according to Orwell, poorly equipped. “[The] shortage of rifles was so desperate that fresh troops reaching the front always had to take their rifles from the troops they relieved in the line. In the whole of the Lenin Barracks there were, I believe, no rifles except those used by the sentries,” he wrote in Homage to Catalonia.

It’s a slightly different scene in Star Wars where the good guys never seem to be in short supply of spare speeder parts, ammunition, or transportation. The closest we get to seeing the poverty of war may come in the scenes onboard the Millennium Falcon, which looks like it’s held together with duct tape and hope....
https://blog.capterra.com/financing-the-rebel-alliance-star-wars-finance/


OP is saying there is an important battle for the existence of new types of money.

[johnyj]

Ok, that is cheesy.  

2. the star is far away from earth thus secure from earth violence

This one is the worst. Let's use what you've said. Even though this star is so so far away, people know about this and want to make a life of their own. The problem is that some of them take advantage of it. Saying that they can access the star through them but it was a ploy for them to take away the money of that person. Despite the distance of this star, they are taking advantage of it and I cann see that it is being violated already.

Of course some kind of order will have to be established on that star, but it will be very different from what we are currently seeing on Earth, which is purely based on violence and social engineering

[fiulpro]

I think you mean soon enough every country will have their own Cryptocurrency , therefore they will have to buy and sell their own cryptocurrencies .
I have no idea why you mean that we won't be able to reach it , the cryptocurrencies are made for the people and it is controlled by the people therefore I do think it will be rather easy for someone to reach it if that's what you mean.
It will be just like fist if there are like separate cryptocurrencies for separate counties.
So there is no point.

[johnyj]

I think you mean soon enough every country will have their own Cryptocurrency , therefore they will have to buy and sell their own cryptocurrencies .
I have no idea why you mean that we won't be able to reach it , the cryptocurrencies are made for the people and it is controlled by the people therefore I do think it will be rather easy for someone to reach it if that's what you mean.
It will be just like fist if there are like separate cryptocurrencies for separate counties.
So there is no point.

It's some kind of consensus, maintained by network. You won't reach it physically, that means any kind of physical violence is useless. This is similar to that you can not destroy religion or language by using nuclear weapon, even if you kill everyone that uses them

And this is very important for the value of countries (coins) on this cryptostar, if any government can control a coin, then it will worth no more than the worth of that government

Currently bitcoin can not be regarded as safe on this cryptostar, since a few mining pools control more than 51% of the network hash rate. However, maybe future development will make some coin extremely resistent from external control

[johnyj]

This will help:
While Skywalker fights the Empire for most of his adult life, Orwell fought fascism for about six months. On the morning of May 20, 1937, he was standing on a parapet in near the front line. As he spoke to some of his comrades, a sniper shot him through the throat.

As he fell, his head ricocheting off the ground, I doubt Orwell took much time to reflect on the funding of the war in which he fought. But even though a bullet costs something like $0.25, that single cost can determine life and death.

The Republic was, according to Orwell, poorly equipped. “[The] shortage of rifles was so desperate that fresh troops reaching the front always had to take their rifles from the troops they relieved in the line. In the whole of the Lenin Barracks there were, I believe, no rifles except those used by the sentries,” he wrote in Homage to Catalonia.

It’s a slightly different scene in Star Wars where the good guys never seem to be in short supply of spare speeder parts, ammunition, or transportation. The closest we get to seeing the poverty of war may come in the scenes onboard the Millennium Falcon, which looks like it’s held together with duct tape and hope....
https://blog.capterra.com/financing-the-rebel-alliance-star-wars-finance/


OP is saying there is an important battle for the existence of new types of money.

Great story! My point is, no violence on earth can reach the cryptostar, thus no need for any weapon or supply