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Message
re: Bitcoin...LOL
Posted on 1/22/22 at 12:18 pm to JayDeerTay84
Posted on 1/22/22 at 12:18 pm to JayDeerTay84
quote:
Yes. Bitcoin is the blockchain. Has many uses. Its the most secure auditable network on the planet
Who owns it and controls it?
2
Posted on 1/22/22 at 12:27 pm to METAL
What’s that mean
Posted on 1/22/22 at 12:35 pm to momentoftruth87
quote:
Who owns it and controls it?
It's decentralized. No one does.
That's the appeal.
Posted on 1/22/22 at 12:36 pm to momentoftruth87
There are videos and courses out there that can explain it much more eloquently than I.
Posted on 1/22/22 at 12:46 pm to LordSaintly
Someone has to be in control of it.
Posted on 1/22/22 at 12:49 pm to momentoftruth87
Nope. The network is controlled much like a mesh network.
Many nodes/miners operating the network verifying transactions and keeping it all secure.
Many nodes/miners operating the network verifying transactions and keeping it all secure.
Posted on 1/22/22 at 12:50 pm to momentoftruth87
quote:
Someone has to be in control of it.
Nope. No single person or entity is in control of Bitcoin.
Posted on 1/22/22 at 12:51 pm to momentoftruth87
quote:
Someone has to be in control of it.
That is literally why it is so popular.
It is 100% decentralized.
Posted on 1/22/22 at 1:17 pm to LordSaintly
quote:
Nope. No single person or entity is in control of Bitcoin.
Yes, but it is extremely concentrated. 90% of BTC is owned by 2% of total owners.
Posted on 1/22/22 at 1:53 pm to Azazello
Would this mean they can control anything on what bitcoin does?
Posted on 1/22/22 at 2:32 pm to 21JumpStreet
quote:
Would this mean they can control anything on what bitcoin does?
They can do nothing.
And I would like to see proof of that 90% is owned by 2%.
Posted on 1/22/22 at 2:33 pm to Azazello
and the stock market / bond market isn't?
Posted on 1/22/22 at 2:40 pm to momentoftruth87
quote:
Someone has to be in control of it.
this is greatPosted on 1/22/22 at 2:41 pm to momentoftruth87
quote:
Someone has to be in control of it
the people
Posted on 1/22/22 at 3:22 pm to Azazello
That’s a horrible argument against Bitcoin because everything else has high concentration. It’s called a Pareto distribution.
Posted on 1/22/22 at 3:24 pm to Azazello
quote:
Yes, but it is extremely concentrated. 90% of BTC is owned by 2% of total owners.
The largest BTC wallets are exchanges. One wallet can contain many investors and so forth. Its not something you can look at with traditional indicators. As we say, not your wallet not your coin. Also, there are now mechanisms, such as wrapped BTC, where a custodian will hold large amounts of BTC for many users.
Further, this is a non-issue as the network depends on the miners, which is decentralized and NOT concentrated.
Here is a thorough explanation: LINK /
Simply put, you are wrong.
This post was edited on 1/22/22 at 3:40 pm
Posted on 1/22/22 at 3:40 pm to LordSaintly
I'm convinced most people still don't understand why Bitcoin has utility and value
a fixed supply money which is not controlled by oligarchs should be appealing to freedom type people who want to preserve their wealth?
I don't quite understand it. maybe the name Bitcoin just sounds too phony or the price action is just too volatile. idk
a fixed supply money which is not controlled by oligarchs should be appealing to freedom type people who want to preserve their wealth?
I don't quite understand it. maybe the name Bitcoin just sounds too phony or the price action is just too volatile. idk
Posted on 1/22/22 at 3:44 pm to rocket31
quote:
I don't quite understand it. maybe the name Bitcoin just sounds too phony or the price action is just too volatile. idk
Its like all media driven shite.
During the Kyle trial, there were people that literally thought he killed a bunch of black people because of the media calling him a racist every other day.
Most dont take the time to learn themselves and thus, either lose out or get burned bad.
This post was edited on 1/22/22 at 3:48 pm
Posted on 1/22/22 at 3:53 pm to rocket31
quote:
a fixed supply money which is not controlled by oligarchs should be appealing to freedom type people who want to preserve their wealth?
I don't quite understand it. maybe the name Bitcoin just sounds too phony or the price action is just too volatile.
I think it’s many things. One of which is the suspicion that the price volatility, which any reasonable person would agree is extreme, is in fact being controlled/manipulated by oligarchs of some kind. The rich rule everything. Why is this new concept or source of wealth any different?
Another is the fact that governments can shut it down if they really wanted to, regardless of what most of you think.
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