Get ready for Crypto Anarchy

[NotMyProblemParticipant 965]

Looks like the free market’s coming back with a vengeance.

And 95% of the bitcoin community is Men.

Not my property... Not my problem

[Jan SobieskiParticipant 28791]

Just have a lot of concerns about bit coin.

Thanks for posting!

Love is just alimony waiting to happen. Visit mgtow.com.

[NotMyProblemParticipant 965]

I agree Jan. Here are my top 3 concerns about Bitcoin…

1- Scaling: Transaction volume is growing fast and the network is reaching it’s limits.

I’m not too worried about scaling because we have segregated witness, a 2mb block size increase, lightning network, and thin blocks coming in the next 18 months. Lightning network alone can enable millions of transactions. I’ll be more confident once they are actually implemented.

2- Miner Centralization in China: A lot of the bitcoin mining pools are operating in China. This is due to low electricity costs and close proximity to manufacturing.

This one I’m slightly more worried about. The Chinese government is getting f~~~ed the hardest by the Federal reserve. If they attack bitcoin and the US doesn’t, the US will remain the worlds superpower for another century.

3- Bitcoin Fungibility: Because of the trackable nature, it’s not always easy to anonymize yourself. If you’re a nerd its no problem, but I’d like to see more anonymizing features added.

I’m not that worried about this one. I follow the core devs and things like zero-knowledge proofs and the lightning network will make things more anonymous over time. The way they can track you is by following the trail from the exchange (if you don’t obfuscate the trail)… Once we are getting paid directly in bits and spend bits for everything… well then they are f~~~ed because there will be no starting point from which to track.

Conclusion: I keep a portion of my savings in Bitcoin but for now I’m mostly just watching and learning. I’m investing more into the information and the infrastructure surrounding it.

I’d like to know your specific concerns Jan. Maybe I already nailed them but other viewpoints are welcome.

Not my property... Not my problem

[NotMyProblemParticipant 965]

I guess the odd thing for me is that it’s completely opt in. There is no sovereign enforcing it, which should be a good thing according to freedom. But Still I just wonder how it will maintain value, cuz it’s not food either. YOu say creation is self limited by the mining system. But everything is just a file of bits. How can it really be limited?

To recap:

OPTing in to a currency is the headline here.

Gold is opt-in as well. In a free market, as long as more than 2 people agree that something has value it can be used as money. That’s all it takes.

For most of history we used gold or seashells, neither of which were issued by a central authority figure.

In the case of Bitcoin, instead of a central authority, it is powered by a network of individuals. No one in this network has more power than anyone else.

Everyone that participates in bitcoin mining has a copy of the ledger that stores the bits. If I download bitcoin core and start mining, I have no power to add extra bits. If I did, I wouldn’t be in consensus with the rest of the nodes. I would be rejected.

It’s important to note that the bitcoin miners do not actually issue the new currency units. They are simply rewarded with new currency in exchange for keeping the network secure. It’s an incentivized network.

There will only ever be 21 million bitcoins ever issued. The only way to change that is for all nodes on the network to agree and change it all at the same exact time.

Of course the miners will never do that because it would destroy the value of their bitcoins, as well as the millions of dollars in mining hardware. The whole world would know instantly.

It’s called Game Theory. It’s all based on incentives. As long as everyone participating does what’s in their best interests, it will survive.

I’ve found that if there’s one thing you can count on… It’s that people will pursue self-interest.

Not my property... Not my problem

[NotMyProblemParticipant 965]

I just don’t see the feminists or the SJW’s taking the initiative to save or invest in anything, let alone having the brainpower to manage their own cybersecurity…

The digital realm is the future, and it’s a Man’s world.

The Patriarchy will return one way or another.

Not my property... Not my problem

[NotMyProblemParticipant 965]

I can see you guys who are the NodeMinerMasters being on board, but what about widespread public use by non-nerds?

20 years ago you needed unix command line skills to send an email.

Many entrepreneurs including myself are building devices and apps to make things easier to use. This will take time.

The places where this is taking off today are places where it’s a matter of life and death. Think Argentina with their crazy ass currency. Or Venezuela with their 550% inflation rate.

There are now Bitcoin debit cards on the market. Within a few years they will be cheaper, more widespread, easier to use and to load. When you look at Bitcoin on a debit card it’s not much different than our system now.

Except your purchasing power continually explodes in value, instead of slowly leaking away every time Jewman Sachs buys a yacht.

Volatility is an issue too. Less volatile than s~~~-currencies but it will probably be 5-10 years before it stabilizes compared to the USD.

Still an experiment. I’m cautiously optimistic that’s all.

Not my property... Not my problem

[NotMyProblemParticipant 965]

It would be like trusting a bunch of Mark Zuckerburgs, ive never encountered a more squirmy deceitful jewy goyim hater than him.

Are there jews in bitcoin? Maybe if you certified it jew free that could be it’s thing.

Hahah I’ll sell you a bitcoin that’s never been touched by jewry.

Certified brother. No dreidel spinning allowed.

Not my property... Not my problem

[NotMyProblemParticipant 965]

I can almost see it as an investment product.

Have people been paid directly in bitcoins? Like on a w2. Will it always be a case of converting from usd or another force based currency to bit coins and back again? Could be a “more stable than cash, cash investment product, and very convenient cloud enabled techno features.

Yes people in the bitcoin community get paid directly in bitcoin. I sell things online for bitcoin and receive tips in bitcoin.

I think the USD will probably be around for a while. Inflation will probably increase at some point but I think cash is pretty safe for now.

10-15 years out I think the world will be highly digital and highly global. We’re about to see the second half of Moore’s Law unfold. Exponential.

By 2030 I expect the nation-state as a concept will be dying out, much like organized religion is today. Many will simply opt-out non-violently.

At it’s heart this is a trust network, not a currency. Currency is just the first app. We can now re-organize society so that everyone is on a truly equal playing field.

Instead of government I think we will have service providers. I think some government is necessary but we can re-invent how it’s done. The nation-state is going the way of feudalism.

Not my property... Not my problem

[NotMyProblemParticipant 965]

Lol the nodes can be anonymous. Just run them through a VPN or TOR network.

The more that get destroyed the more profitable it becomes for those that remain.

Destroy a bunch and every crypto-nerd on the planet will be running an anonymous node. Profit is a powerful motivator.

It’s like bit torrent. It could literally survive a small nuclear war.

As long as 2 nodes remain somewhere on Earth, Bitcoin will survive.

That doesn’t mean it wont get hijacked in someway somehow at some point. If it does the whole world will know and we’ll just reboot a new one.

When there’s problems, we fix em.

Not my property... Not my problem

[NotMyProblemParticipant 965]

Not to mention there are cameras everywhere. The minute that s~~~ happens the whole world will be up in arms on twitter. Heads will roll.

The dreidel spinners may be watching 7 billion of us with their surveillance system…

…But 7 billion of us are starting to look back.

Sunshine is the best disinfectant.

Not my property... Not my problem

[NotMyProblemParticipant 965]

Download a bitcoin wallet Survivor. I’ll send you a few millibits so you can see how it works…

The fact that I can anonymously send you money through a forum without disclosing identity is f~~~ing sweet.

I don’t have to ask Paypal or the government for permission and no one can stop or censor a transaction.

Jewman Sachs can create as many USD as they want but they will never be able to create a BTC.

Not my property... Not my problem

[NotMyProblemParticipant 965]

Haha just get some Bitcoin and you will be Royal Nerd.

I give $2 to everyone I know. Because I’m a nice guy? F~~~ no. It’s just another investment to me.

Everyone that uses it has a financial incentive to tell people about it. Besides that $2 cost me 50cents like last year…

1 millibit = 45 cents as of today.

Eventually I’ll be pricing things in microbits. I have millions of microbits lol.

Right now you can buy 22 microbits with a penny. Got a whole dollar? You can afford 2,205 microbits!

What do you think will be worth more in 5 years? A microbit or a dollar?

Not my property... Not my problem

[BeerParticipant 11832]

NotMyProblem wrote:

What do you think will be worth more in 5 years? A microbit or a dollar?

A dollar. Bitcoins won’t make it another 5 years before they implode and there are people whining all over the place how they spent thousands of dollars on bitcoins and someone duped 87 billion of them and now they’re all worthless, and the government is just going to be like lol not even trying to prosecute anyone.(because it will probably be the government behind it, they don’t want competition.)

[NotMyProblemParticipant 965]

Beer wrote:

A dollar. Bitcoins won’t make it another 5 years before they implode and there are people whining all over the place how they spent thousands of dollars on bitcoins and someone duped 87 billion of them and now they’re all worthless, and the government is just going to be like lol not even trying to prosecute anyone.(because it will probably be the government behind it, they don’t want competition.)

Well first off where exactly does one add 87 billion bitcoin to?
It’s a decentralized network. There’s no center. Where exactly do you insert the bits?

Everyone loves to come up with a conspiracy theory on why crypto will fail or it’s secretly run by the government… but this is open source code and the ledger is open to anyone to audit.

It’s some of the most widely read code on github. Many people have seen it and there’s hundreds of people that sit around all day pointing out theoretical attack vectors. Then we fix them.

That’s how open-source code works. That’s why linux is more secure than windows. Thousands of eyeb~~~~ on the code and thousands of eyeb~~~~ on the ledger.

I’ve noticed that everyone that’s against crypto always has an emotional argument not a logical argument. I’ll admit I had the same reaction at first. I immediately dismissed it as a government scam… I think that’s everyone’s first reaction.

Then I started reading and digging deeper. 2 years later and now I’m an entrepreneur in this space. I figured I’d rather roll up my sleeves and help build out this technology.

If we fail and bitcoin centralizes, we’ll just reboot a new one and it will be more resilient.

That’s my contribution to MGTOW. Some people make videos, some build this amazing website. I want to make sure bitcoin stays decentralized so the people that value monetary sovereignty and anonymity can take it.

How many divorces could have went better if the Man had some hidden assets in the cloud? How would the world look if crypto dominates and the government can no longer redistribute wealth? Ya think that might change the man-woman power dynamic?

Some of us choose to lay down, bite the pillow and submit to the bankers. Accepting the way things are is a passive strategy for girls.

Not me. I’m of the active variety. I choose to do as much as I can to help this technology evolve.

“The best slave is one who thinks he is free.”

Not my property... Not my problem

[Anonymous 24]

NotMyProblem wrote:

Everyone loves to come up with a conspiracy theory on why crypto will fail or it’s secretly run by the government… but this is open source code and the ledger is open to anyone to audit.

Interesting concept, an actual audit… The further I have gone down the rabbit hole of the Federal Reserve the more I can see that what we have here is nothing more than the biggest Ponzi scheme of all time protected by the largest military of all time. What most of the Muslim bashing Trad-Cons here do not realize is Gadaffi wanted to stop taking Federal Reserve notes for his oil and he intended on creating a gold backed currency. This would have undermined the Fed notes as petrol dollar and world reserve currency. As far as I know Saddam stopped taking Fed notes as well for oil. Blood for money, same old story wrapped up in a different package and sold to fools over and over and over again…

[Author]

Posts