You obviously have some difficulty reading, and haven’t watched the news in over a year.
I made it clear on both the crypto threads that I had quit mining due to rising electric costs. What you quoted me saying is from a long time ago.
@Aedaxus This is what you quoted me saying, I posted this in March 2022…When the electric price was low and it was possible to earn money confirming transactions oon the Ethereum network using a gaming GPU.
Stop spreading confusion trying to pretend I typed this a few hours ago.
I added the quote from a year ago to check if you were promoting mining alt coins again. And yes you are. Also it’s prette clear you are delusional as you will just focus on anything getting away from you trying to claim mining Eth is not a scam. It is a scam, it’s a loss of money. Just just posted the thing 6 hours ago. I can only show you the proof, please read again when not under influence of psychedelic substances.
Stop lying, you are scamming people and trying to divert the attention away from your 'defending mining ETH post.
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See, made you point out the scam. You ask if mining Eth with a computer anyone has is a scam. 4 posts later you confirm it is. Do you understand how you are alays exposing the crypto scam every few posts then have to keep posting to bury your mistakes? Do you?
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Sorry you’ve completely lost me. I have no clue what you’re trying to point out.
If you knew what you were talking about you would know it’s no longer possible to mine Ethereum because the consensus has changed from Proof of Work (GPU mining) to Proof of Stake, which involves the person who has staked the most Ethereum being awarded the new Ethereum that gets created.
In other words, today, one cannot mine Ethereum with a GPU because it is impossible…I’m not sure why I would be telling people to go and mine it, you must have misread or misunderstood something I typed, but seeing as you have no clue what i’m talking about anyway you wouldn’t know.
When you reposted what I said over a year ago I thought you were talking from a past tense point of view (you know since we are talking about the past) Mining Ethereum then was never a scam to begin with.
You ask questions of no relevance, and I can only repeat it’s a scam. You keep talking and talking about anything and get new topics each time it’s proven that crypto is a scam. Anyone mining will loose money, why do you even ask about that? What is wrong with you? What point besides that you have some serious issues do you like to point out? I mean you and ‘the smart people’ who are helping “the poor get rich”. But can’t show a simple business plan yet claim anyone can do it. Do you know how many businesses go bankrupt even with a reasonably well businessplan? How do you think it will far for the poor persons that are scammed by you to use crypto and end up holding empty bags?
I’ve not seen any solid evidence that what I’m talking about is a scam, I’ve only really seen the poorly researched opinion of a couple of deluded guys on a forum.
Agreed.
Ermmm…Because…You…Reposted…something…I…Said…About…Mining …Over …a …Year…ago…
I’m fine.
Last I checked, if I buy £50 of BTC then use it for a transaction, then guess what?..I know you will find this hard to accept but…I will no longer have £50 worth of BTC.
I don’t hold any crypto so anyone buying it for investment purposes wouldn’t affect me and I would not really affect them since I only use it on an ad-hoc basis for some transactions. My crypto usage only lasts a few minutes, but I suppose billions of people using Bitcoin for a few minutes is what will generate fees, not people buying large amounts and holding it for profit.
I’ve suggested people use crypto if they want privacy on their transactions, I’ve also said that IF one buys crypto to hold and gain profit from then they might have a 10 to 30 year wait for that life changing astronomical profit. So my viewpoint on holding it has changed somewhat.
I look at it like this.
It is legal to sell items of a sexual adult nature right, I’m sure everyone understands that if the customers of this shop were found out they would face embarrassment, All that’s happened is someone has come along and given these 2 parties a tool they can use that will contribute to keeping the customer anonymous and the retailer earning money due to more people feeling comfortable about privacy due to the creation of Bitcoin.
I say to leave these people to it, crypto was aimed at assisting these people as they are not doing anything illegal and we are the ones sticking our noses in.
50 years ago, yes. Not today, even when the President of France was caught driving on his moped to his lover’s house, no one really cared and business continued as usual. He gave her gifts and didn’t need Bitcoin, no one does.
It’s not about the BTC whitepaper, it’s about decades of crypto being scams and crime. And each time crypto is presented it’s ‘to help the poor’ and then robs them blind. And that’s sad, preying on the weak over and over… End of the school year soon, many naive people looking to make ends meet… and you think I will just let you and your buddies steal the money they need to pay the bills? No, each time I will speak up.
NFT is not for the average joe, but it will try to get them to throw money in the digital coin so the guys higher up the pyramid scheme can cash out.
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Yes, with many crypto and NFT’s that is actually the case. It really spoils it for the good crypto enthusiasts who want to assist things like retail and privacy.
I honestly never understood NFTs, they way the people push them is akin to some Vector Marketing person trying to push me to sell knives for an MLM scheme. I’m glad I am recognize something sleezy as that now, but sadly there is a never ending pool of college age students that don’t (yet) have the knowledge to identify such bad investments.
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So you are basically the ag of crypto. You just cry on the sidelines
I dont know if people know this, but after introduction of paper money to china, eventually they went back to coins, and what they traded internationally with was only silver. Everything else they could do internally, but silver they were always glad to take in exchange.
Paper money ended in inflation and counterfeit money, as people could literally print as much as they wanted. Like with all kinds of cryptos.
We need to go back to coins, but not digital ones. You can always have more digital ones, if not bitcoins than others.
You need to have precious metals that are used in technology. Silver is a popular choice.
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There is an old movie “The Greatest Show on Earth” with Charlton Heston about the circus life.
In it he mentions everyone gets paid in silver.
The whole point of Bitcoin is that you can’t do exactly that. It is digital scarcity. There will only ever be 21mil Bitcoin and no one can create more than that.
That is like saying you can always have other metal coins, if not silver then others.
No that is actually a bad idea. Using such resources as monetary assets artificially inflates their value, which means that it makes the actual technical applications where they would be useful more expensive to the point of completely unpractical, where industries have to rely on sub-optimal replacements to stay in business.
Also especially silver has a very low stock-to-flow ratio. This means that the amount of silver consumed and mined, compared to the stockpile is very high, which results in highly fluctuating supply. Gold is much better in that regard.
But all physical currencies have the problem that they are… well… physical. This makes them maybe a good choice for local currencies, but it is completely unusable for a global currency. The whole reason why fiat money like the dollar replaced gold is speed. Fiat mainly only exists on ledgers, it is already a digital currency so it can be transferred basically instantly.
The difference between a fiat currency and Bitcoin is that fiat runs on a network of bank ledgers that have to trust each other, while we have to trust the banks, and a central bank who issues the base money and notes (the actual digital money in circulation is created by banks). Bitcoin simply replaces this all with software. It is basically automating a huge part of what banks do away by utilizing cryptography and a global ledger with decentralized consensus.
It’s simply automation
If you think this will go away you are completely deluded. It is a much more efficient way to create a monetary network where everyone can participate at the base layer, with zero trust and regulation required for it to work.
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There are more cryptocurrencies than that and you know it. And you know that nobody can make it impossible to create even more of them, and use tham for nothing else than one thing, to pay. Which is even worse than paper money. With paper money you can run out of paper. There is also one upside to paper money, you can use them without power. With cryptos is that you are not limited by anything, as numbers are numbers. It also have a big downside which is it uses power for transactions everywhere its present.
Silver is a technical material also and a precious metal because of its properties knows since these were discovered. From the highest electrical conductivity to antimicrobial properties because it releases Ag ions that damage microbial membranes. Its value was and will be always great.
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Silver has high value because it repels werewolves.
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I’m not even sure why I try to communicate with you, it’s pretty clear you didn’t understand a thing I wrote.
Not sure if this is a valid point, but I thought the trust part of it is the crypto exchanges promise to pay the bearer of Bitcoin the sum of the current BTC value in fiat. If for any reason crypto exchanges run into problems and can’t operate then wouldn’t this mean the end for Bitcoin?
If I’m being honest I only use Bitcoin for a few transactions because I trust that on my end and the retailer end the BTC can successfully be exchanged for fiat. If the exchanges weren’t able to operate how does BTC look? what would be it’s value if exchanges couldn’t operate?