News on China's scientific and technological development.


Tyler

Senior Member
Registered Member
You have a fundamental misunderstanding of what bitcoin actually is... Zero wealth was ever created by the use, mining or transaction of bitcoin...see my link and long post above

You can buy a tesla car with bitcoin? Many yankees are so happy China is banning bitcoin.
 

quantumlight

Junior Member
Registered Member
You can buy a tesla car with bitcoin? Many yankees are so happy China is banning bitcoin.
During the height of Tulip mania you could buy couple houses with a flower...

You have to look at it from an energy, resource, thermodynamic and entropy standpoint...

Money is the ability for energy to do work... Bitcoin is not a source nor storage of energy/resource... mining it is a net energy sink ... society on the whole loses with zero net gain, but whilsts its still being propped up as ponzi speculation scheme you will always have someone finding a sucker to hold the bag...

Tesla is only profitable from Bitcoin speculation but oh btw Musk recently announced he aint taking Bitcoin for Tesla's anymore....

So genius move really, Elon tricked the sheeple to crowdsource subsidized his overpriced cars then did bait and switch and now moved on to doggycoin and wont even accept bitcoin anymore ... classic pump and dump
 

quantumlight

Junior Member
Registered Member
Was bitcoin invented by a Japanese? A lot of wealth is being created by bitcoin mining. Many Chinese companies like bitmain are making a lot of mining machines.
No... its most likely CIA... let me explain first that "mining" bitcoin creates zero wealth...

Since mining bitcoin, unlike mining for coal, oil, gas, uranium, etc doesnt actually add any energy nor resources into the system and is merely a new way of counting money (aka digital distributed financial accounting general ledger system) it is not a creation of wealth but rather a reshuffling or redistribution of the symbolic accounting of underlining wealth that already exists within a system.

Even if hypothetically America and US intel agencies cannot control bitcoin after its release into the wild they would still stand to benefit from its rise and adoption... Since bitcoin is not a creator of energy nor wealth, its rise comes at the expense of all other curriencies and monies already in existence today. If say even CIA/NSA cannot "control" Bitcoin then its fair to say no one else can either, not the Russians nor Chinese... If the dollar's decline long term is inevitable anyway, the US government would rather the world adopt bitcoin that is controlled by no one than for the world to jump on board the DCEP or digitual Yuan etc which would go towards boosting Chinese hegemony.

The way any pyramid scheme works is you have exponentially more suckers buy into the scam at each additional layer or subsequent generation of the multilevel scheme... when it gets to the point that average joe on the street is using their stimulus money to "invest" in bitcoin, versus converting dollars to real assets or hard value etc... it has the net effect of artificially depressing the price of everything else from gold to silver to land and real estate etc... enabling the elites and superwealthy to buy them up on the cheap while the masses and public are left holding the bag (scamcoin)

Bitcoin is gaining instituational adoption which means the average joe could be "investing" into the scam and not even aware of it, if you contribute to a 401k and your hedge fund is invested some part in bitcoin then in effect youve started to jump on this bandwagon even if you never heard of bitcoin or dont have any idea what is a cryptocurriency etc

Bitcoin also has had the affect of propping up prices of graphics card, GPU is not just used for gaming and mining its also used in all AI applications. America is the greatest net benefactor of this rise of bitcoin as its companies like Nvidia were best positioned to skyrocket from bitcoins boom and indeed Nvidia has rebranded itself as top AI company and set sights to buy out ARM and even do chip fab. Tesla self driving car tech for example uses Nvidia GPU. In affect the world, by and through its adoption, mining, and usage of bitcoin has indirectly subsudized, crowd funded, and propped up the US development and advancement of AI, the supreme irony is at the end of the day adoption of bitcoin mostly benefitted America, which is not unlike the USD petrodollar hegemony, indeed the parallels are quite striking.

From the aspect of blackops and dark budgets, bitcoin is a Godsend for CIA... many reasons. Think back to 1970s when CIA was running drugs and had to ship boatloads of hard physical paper cash into other nations they wanted to coup, bribe etc and risk their agents getting caught...

Now with TOR (which is a known US intel agency project) and Bitcoin not only does it solve the bulky logistical issue of getting bunch of cash to someplace quickly it also does it quietly since TOR makes it harder for target nations to intercept/analysis that network traffic... In fact bitcoin has a builtin mechanism to allow it to be easily run it over the TOR network...

Not only do we not officially know who or what started bitcoin, we also dont know who holds the initial 10% of all bitcoins when it first released into wild back in or around 2008. The mystery unknown creator of bitcoin withheld the first 10% of all bitcoins for himself/themselves... Back then each bitcoin started off as a single cent/penny (0.01 USD) but now a single bitcoin is worth approx $64,000 USD at its most recent high peak. This is an inflation of approx 600,000,000%+... If the CIA did create bitcoin then it costed them essentially nothing to withhold/obtain/reserve the first 10% of all bitcoins but today they would have ended up with (at the time of this writing) approximately 126 billion dollars of magic black money dark funds (in reality subsidized by the rest of the world or more accurately the rest of the users/holders of bitcoin, many of which are Chinese investors etc) which they "got from nothing" and is completely free of Congressional oversight and they can just use all this money to fund secretly any of their dark projects and black ops etc... or to pay opposition leaders of foreign counties they want to overthrow
 

hkbc

Junior Member
You can buy a tesla car with bitcoin? Many yankees are so happy China is banning bitcoin.
Actually Musk stopped accepting Bitcoin for Teslas back in May see
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China stopped bitcoin trading accounts back in 2014 and shut down exchanges in 2017, the recent round is a crack down on mining bitcoin not banning it since its already effectively banned in China.

Recently the US has turned against Bitcoin because it has potential to reduce the use of the dollar for cross border trade, putting more pressure on its status as the reserve currency. Its actively trying to stop countries like El Salvador from adopting it through its proxies at the
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Tyler

Senior Member
Registered Member
Just recently the yankees claimed they got all the bitcoin back that were paid to those oil pipeline hackers as ransom. Does that mean they could hack into the bitcoin security code?
 

quantumlight

Junior Member
Registered Member
Actually Musk stopped accepting Bitcoin for Teslas back in May see
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.

China stopped bitcoin trading accounts back in 2014 and shut down exchanges in 2017, the recent round is a crack down on mining bitcoin not banning it since its already effectively banned in China.

Recently the US has turned against Bitcoin because it has potential to reduce the use of the dollar for cross border trade, putting more pressure on its status as the reserve currency. Its actively trying to stop countries like El Salvador from adopting it through its proxies at the
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and
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Yup... Elon got the masses sucked into bitcoin, effectively subsidized his overpriced overhyped cars then turned around and refused to accept bitcoin for said cars... classic pump and dump

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Climate concerns tsk tsk whatabout his exploding rockets
 
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quantumlight

Junior Member
Registered Member
Just recently the yankees claimed they got all the bitcoin back that were paid to those oil pipeline hackers as ransom. Does that mean they could hack into the bitcoin security code?

Bitcoin uses the hashing algorithm written by the NSA... so they can attack the algorithm, the implementation (code is open source) and/or do a node attack... but easier just to have attacked the hackers endpoint machines and got the wallet and captured the keys in memory, no brute force needed... unless it was all a false flag from the getgo as pretext to pressure US firms into increasing their security postures, in that case the whole eposide would have been a horse and pony show through and through
 

quantumlight

Junior Member
Registered Member
Actually Musk stopped accepting Bitcoin for Teslas back in May see
Please, Log in or Register to view URLs content!
.

China stopped bitcoin trading accounts back in 2014 and shut down exchanges in 2017, the recent round is a crack down on mining bitcoin not banning it since its already effectively banned in China.

Recently the US has turned against Bitcoin because it has potential to reduce the use of the dollar for cross border trade, putting more pressure on its status as the reserve currency. Its actively trying to stop countries like El Salvador from adopting it through its proxies at the
Please, Log in or Register to view URLs content!
and
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Bitcoin also serves to mask the symptoms of the infinite printing of fiat currency and it could be used to forestall the impeding implosion of the US dollar... as more and more suckers become digital millionaires or even cryptobillionaries via the rise of bitcoin and other alt coins, like all pyramid schemes it encourages the latecomers, the average everyday joe six packs to forego spending their dollars and "invest" them into bitcoin, having the net effect in society of discouraging real consumption and encouraging holding phantom wealth that will disappear once the elites have converted all their dollars into other real assets like gold, silver, land, buying up other real commodities and real assets while the average joe is "HODL-ING" a bunch of worthless digital coins that can be bubble popped at moment’s notice by something as simple as NSA releasing a long held zero-day or secret vulnerability in the blockchain security cipher...

As more and more people start jumping on this runaway digital tulip mania train and "invest" their savings into bitcoin (whether through directly buying bitcoins through an exchange, or mining bitcoins by joining a mining pool, or through traditional investment funds as bitcoin becomes increasingly adopted by institutional investors etc) what they are doing is deferring purchases and withholding consumption in the false hopes that they will receive a sizeable return on that "investment" in the future. In reality bitcoin is most likely a CIA scheme introduced as a blanket board categorical stroke of genius to allow the elites and super wealthy of the world to get out of the Ponzi scheme of modern fiat currency (there is a good reason Bill Gates is buying up farmland and not bitcoin) by introducing this phantom investment scam to keep the masses of sheeple fooled for long enough so that the rich can make a clean exit/getaway of converting their soon to be worthless fiat currency into real hard assets while the prices of those assets were artificially depressed... and the common everyday person will be left holding the proverbial virtual bag of scamcoins...
 

gelgoog

Captain
Registered Member
Just recently the yankees claimed they got all the bitcoin back that were paid to those oil pipeline hackers as ransom. Does that mean they could hack into the bitcoin security code?

The hackers had their Bitcoin wallet at an exchange hosted in California. The Feds basically contacted the exchange and got the bitcoin back.
 

solarz

Brigadier
bitcoin is actually CIAcoin

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Dont confuse blockchain with bitcoin...

China cannot give up technologically lead on bitcoin any more than it could in an Excel spreadsheet

Bitcoin is not an asset, it is a tool to count assets, and what is happening right now is the individual counting units themselves are involved in speculation, people are not buying slices of an asset, they are buying and selling counting units of an accounting system...

In simple terms, Bitcoin is an online excel spreadsheet globally kept in sync by the Internet. You can also think of it like a giant shared google sheets collaborative document shared live publicly with the globe. This synchronized spreadsheet contains rows full of transaction entries logging every transaction that ever occurs. The moment the very first entry hits the first/top row of this digital excel bookkeeping ledger the virtual currency of bitcoin came into existence from nothing. Each bitcoin that comes into existence does not take an existing dollar out of circulation, its entirely an additive act and not one of substitution...

Furthermore, Bitcoin just happens to be the first tab of the spreadsheet and anyone in the world can start their very own tab and thereby ushering into existence an entirely new spreadsheet and new virtual currency. There is no limit to the amount of tabs that can be created but because bitcoin spreadsheet tab was the first tab and also the default tab, it currently enjoys the first mover advantage and the social "network effects" of popularity and adoption...

Think back to when some coworkers at your company started a football squares and passed around the paper sheet asking people to mark and buy up squares.... in the end someone won while most people lost. It was all games and fun even though real money was involved you knew that this activity never created any value nor did it generate any wealth, it merely reshuffled the existing pooled money around and redistributed it to a few.

So whenever you buy or "invest" in bitcoin you are also merely just paying someone real money to buy up individual cells or rows on the first tab of this digital excel spreadsheet. It is really just a game of hot potatoes, from bitcoins initial start at 0.01 USD per bitcoin to its recent peak of $64,000 per bitcoin, its been on average one long chain of successive buying and reselling of rows of this spreadsheet. On average in the long run each subsequent person who bought up a row of the spreadsheet was willing to pay more that what the previous owner had himself paid to previously acquire it... in other words, when the current owner of a row or rows of this spreadsheet wants to sell it to another buyer he fully hopes and expects to be able to find a new buyer willing to pay even more and thereby pocket a profit...

People talk of bitcoin as a game charger, a hedge against inflation, a safe haven, or some sort of savior of the world... how because of the rise of all cryptocurrencies its suddenly brought so much new wealth into the world or somehow unlocked so much potential...

But if you understand the fundamentals of what bitcoin actually is, an online excel spreadsheet shared globally where each row represented a transaction of buying or selling a particular row, then its crystal clear bitcoin,not unlike the football squares, was never going to solve anything... its not a storage of wealth nor is it a source of energy nor does it have any intrinsic value whatsoever...

As far as the Tulip mania analogy goes, Bitcoin is more akin to the paper buying and selling of futures contracts of an entirely fictitious made-up flower that no one has actually seen and in fact has never even existed in the first place.

You could describe any currency as a giant spreadsheet, and Bitcoin speculation is no different from existing financial markets.
 

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