The Winklevoss Twins Explain Bitcoin to Dave Portnoy ...

Barstool’s Dave Portnoy Is Bad at Trading Cryptocurrency

Dave Portnoy, the online sports celebrity founder of Barstool Sports, might be quitting cryptocurrency trading after buying bitcoin (BTC) and other cryptocurrencies little more than a week ago, according to a tweet published Friday afternoon.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

Barstool’s Dave Portnoy Is Bad at Trading Cryptocurrency

Dave Portnoy, the online sports celebrity founder of Barstool Sports, might be quitting cryptocurrency trading after buying bitcoin (BTC) and other cryptocurrencies little more than a week ago, according to a tweet published Friday afternoon.
submitted by ami_nil1987 to airdropfactory [link] [comments]

ARCHIVE: I Am A Time Traveler From The Future, Here To Beg You To Stop What You Are Doing

the original post was just deleted a few minutes ago. (it was deleted around 7:45pm EST on March 8, 2019)

Wanted to be sure the original text was still visible. I copied / pasted this from the Internet Wayback Machine. Snapshot pasted below is from 9/11/2018: https://web.archive.org/web/20180911055950/https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

Original Post from u/Luka_Magnotta

I am a time-traveler from the future, here to beg you to stop what you are doing.

I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by Kinolva to Bitcoin [link] [comments]

A letter from the future about Bitcoin.

Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
More: https://www.youtube.com/watch?v=SgrUEHe7CZY&t=3s
submitted by chapikla to u/chapikla [link] [comments]

I am a time-traveler from the future, here to beg you to stop what you are doing.

Update, 27 oktober 2019:
Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by Luka_Magnotta to Bitcoin [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Must watch films for crypto enthusiasts

Must watch films for crypto enthusiasts
While cryptocurrency market is collapsing, why not give yourself a break, sit down and indulge in some of our top pick crypto films.
It has been a dramatic ups and downs for the revolutionary internet money, Bitcoin, since its inception in 2008. Be that as it may, if you are still skeptical about how cryptocurrency works or what is the Bitcoin hype all about, there’s nothing better than a good documentary to address all your questions and fascinate you. With that said, here is a list of the top documentaries and TV shows every cryptocurrency trader and investor needs to watch. You will not just learn about Bitcoin. Watching them will also explain reasons as to why it was started and how the traditional banking system works. So let’s get started…
https://preview.redd.it/jsccktzih0121.png?width=1772&format=png&auto=webp&s=1f70afb5591631b6c81a7a98fcbd0e95791499f3

1. Banking on Bitcoin (2016)

This is a documentary available on Netflix, which tells the story of Bitcoin since its inception. We particularly recommend this film in regards of it explains the basic concepts and ideas behind Bitcoin (as both an open and decentralized ledger rather than a currency as well as an ambitious social experiment).
A perfect pick for people who is new to crypto. The film presents short interview clips with early adopters of Bitcoin, demonstrates the mysterious identity of Satoshi Nakamoto, and starred many early adopters of bitcoin, including Charlie Shrem, Erik Voorhees, Gavin Andresen, David Chaum, and the Winklevoss twins.

https://preview.redd.it/bptr6qibj0121.png?width=1280&format=png&auto=webp&s=fa194b4b2962c482309ef0c65f09b29f2ba2c638

2. Bitcoin: The End of Money as We Know It (2015)

This 60 minutes long documentary was released in 2015 and it features in-depth explanations on how Bitcoin and the blockchain technology will disrupt the traditional financial system. It interviews well-known icons in the cryptosphere such as Andreas Antonopoulos, Nic Cary and Roger Ver.
The film tells the story of money and bitcoin by tracing the origins of money back to the age of barter. From here, through the use of various forms of footage and clever editing, the film tells stories of power, control and deceit. It traces the rise of the Medici and others through the history of banking and commerce. This film is perfect for anyone looking to understand bitcoin and what the central and commercial banks have done to our money. Enlightening and shocking.

https://preview.redd.it/d1c4978rj0121.png?width=600&format=png&auto=webp&s=e45235f58f48d6c741cf8c7f804900e4b6f7d90e

3. The Rise and Rise of Bitcoin (2014)

This documentary gives insight into the early days of mining, and the drama that happened with the Mt. Gox and the Cyprus crisis. It presents a great intro into some of the very early adopters’ lives, such as Gavin Andresen, Brian Armstrong and Margaux Avedisian and why the community is blossoming in a time when the rest of the world is sinking deeper into depression and debt. The interview with the CEO of the Mt. Gox was also very interesting.
The film explains many complex issues in layman terms to enable any family member to appreciate the invention for what it accomplishes. It invites one to look beyond mainstream misrepresentations that it is only a black market currency.
https://preview.redd.it/jfee201ek0121.png?width=1456&format=png&auto=webp&s=39691dd56ad77fd5ca38f4b07b24a4c5df554dd0

4. Gringo: The Dangerous Life of John McAfee

This documentary is not directly related to cryptocurrency at all and it does not even mention cryptocurrency in the entire movie. However, it is a documentary about the life of the infamous face in the cryptosphere, John McAfee. Many people in the cryptosphere see John McAfee as a laughable figure who shills anything for a buck or two and he mostly gets ignored and sniggered at. As crazy as he is on Twitter, this film reveals another side of JM that you may not be aware of. The documentary may be misinformed or edited to suit the narrative of the writer but it’s clear to see JM’s decision making shown in the documentary echoes how he reacts still on Twitter.
A short introduction of the film:
John McAfee became a multi-millionaire after creating a prominent antivirus software, and later relocated to Belize. In April 2012, national police raided McAfee’s estate based on suspicions of drug manufacture or trafficking. Later that year McAfee’s neighbor Greg Faull was murdered and McAfee went into hiding before crossing the border to Guatemala and being deported back to the United States. The documentary suggests that McAfee was involved in the murder due to a feud between him and Faull over McAfee’s dogs. McAfee was never charged with any crime in Belize.

https://preview.redd.it/veovxyw4l0121.png?width=1280&format=png&auto=webp&s=ecdb9d151ea7b780c2ad8939676eb47ddfcf34cd

5. Cryptocurrencies: Last Week Tonight with John Oliver (HBO)

We all need a good laugh to go through this devastating bear market in the cryptosphere and there’s no better option than watching cryptocurrency being introduced by comedian John Oliver. You will probably not get any in-depth knowledge after watching this video but you sure will get a good laugh. Put your mind away from the market and just enjoy the video.

https://preview.redd.it/f8pidmebl0121.png?width=1280&format=png&auto=webp&s=2636d37125e632c39db08ac328a02842c37c7b89
submitted by BusyRelish to DINNGO [link] [comments]

02-02 18:02 - 'What Happened to the 2013 Time Traveler's Post? A lot of u/Luka_Magnotta's predictions were coming to fruition...' (self.Bitcoin) by /u/globalchain removed from /r/Bitcoin within 0-5min

'''
Removed post: [[link]3
Deleted account: u/Luka_Magnotta
Archived post: [[link]4
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.

'''
What Happened to the 2013 Time Traveler's Post? A lot of u/Luka_Magnotta's predictions were coming to fruition...
Go1dfish undelete link
unreddit undelete link
Author: globalchain
1: ww*.reddit*co*/r*Bitcoin/c*****t**1*fob*/i_am_a_*i*et*avel*r_f*om_the_fu**re_here_t*_be*/ 2: np.re*dit.c*m/***coin/com*e**s/*lfobc/i*am**_timetravel***f**m_t*e_future*he*e_*o_*eg/ 3: www*re*di***om**itcoin/co*ments/1lfobc/*\_am\_***timetravel*r\_fr*m\_*h*\**ut*re\_***e\_to**beg/*^^* 4: np.reddit.com/Bit*oin***mments**l***c/i\*a***a\_*imetrav**er\*fro*\**he\_fu**re\*h*re\_to\_beg/]^^*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

r/bitcoin recap - March 2017

Hi Bitcoiners!
I’m back with the third monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
Now archived on Bitcoinsnippets.com
As promised, I launched a website as an archive, where I post the version with links to the original posts and discussions so this post doesn't get auto-moderated. Special thanks goes out to Bitttburger for thinking of the name Bitcoin Snippets.
I went back in time and made an overview for December 2016 too. I’ll probably make recaps of 1-2 previous months for each month I progress, so that I eventually end up with everything in a few years.
Starting from this month, I’m going to cut back on including memes, there’s too many and they overtake the interesting news.
A recap of March 2017 in bitcoin
Version with links on Bitcoinsnippets.com
Thanks to everyone who contributed to Bitcoin in a positive way this month!
submitted by SamWouters to Bitcoin [link] [comments]

r/Bitcoin recap - September 2018

Hi Bitcoiners!
I’m back with the 21st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in September 2018
submitted by SamWouters to Bitcoin [link] [comments]

🔥Must watch films for crypto enthusiasts🔥

🔥Must watch films for crypto enthusiasts🔥
While cryptocurrency market is collapsing, why not give yourself a break, sit down and indulge in some of our top pick crypto films.
It has been a dramatic ups and downs for the revolutionary internet money, Bitcoin, since its inception in 2008. Be that as it may, if you are still skeptical about how cryptocurrency works or what is the Bitcoin hype all about, there’s nothing better than a good documentary to address all your questions and fascinate you. With that said, here is a list of the top documentaries and TV shows every cryptocurrency trader and investor needs to watch. You will not just learn about Bitcoin. Watching them will also explain reasons as to why it was started and how the traditional banking system works. So let’s get started…

https://preview.redd.it/8juf3wzv34921.png?width=1772&format=png&auto=webp&s=2ff1c3fb49adde9991996cbffd0bbdc6c3154efd

1. Banking on Bitcoin (2016)

This is a documentary available on Netflix, which tells the story of Bitcoin since its inception. We particularly recommend this film in regards of it explains the basic concepts and ideas behind Bitcoin (as both an open and decentralized ledger rather than a currency as well as an ambitious social experiment).
A perfect pick for people who is new to crypto. The film presents short interview clips with early adopters of Bitcoin, demonstrates the mysterious identity of Satoshi Nakamoto, and starred many early adopters of bitcoin, including Charlie Shrem, Erik Voorhees, Gavin Andresen, David Chaum, and the Winklevoss twins.

https://preview.redd.it/3cuzask144921.png?width=1280&format=png&auto=webp&s=f3be01eafa55431826f44e4e18502125d383aa21

2. Bitcoin: The End of Money as We Know It (2015)

This 60 minutes long documentary was released in 2015 and it features in-depth explanations on how Bitcoin and the blockchain technology will disrupt the traditional financial system. It interviews well-known icons in the cryptosphere such as Andreas Antonopoulos, Nic Cary and Roger Ver.
The film tells the story of money and bitcoin by tracing the origins of money back to the age of barter. From here, through the use of various forms of footage and clever editing, the film tells stories of power, control and deceit. It traces the rise of the Medici and others through the history of banking and commerce. This film is perfect for anyone looking to understand bitcoin and what the central and commercial banks have done to our money. Enlightening and shocking.

https://preview.redd.it/4kaoy17544921.png?width=600&format=png&auto=webp&s=043795009cf82164fec7d85df81e659530f05772

3. The Rise and Rise of Bitcoin (2014)

This documentary gives insight into the early days of mining, and the drama that happened with the Mt. Gox and the Cyprus crisis. It presents a great intro into some of the very early adopters’ lives, such as Gavin Andresen, Brian Armstrong and Margaux Avedisian and why the community is blossoming in a time when the rest of the world is sinking deeper into depression and debt. The interview with the CEO of the Mt. Gox was also very interesting.
The film explains many complex issues in layman terms to enable any family member to appreciate the invention for what it accomplishes. It invites one to look beyond mainstream misrepresentations that it is only a black market currency.

https://preview.redd.it/sshmwka844921.png?width=1456&format=png&auto=webp&s=e55ef3124e658bcb47d50b6c3b0f6af81846df9c

4. Gringo: The Dangerous Life of John McAfee

This documentary is not directly related to cryptocurrency at all and it does not even mention cryptocurrency in the entire movie. However, it is a documentary about the life of the infamous face in the cryptosphere, John McAfee. Many people in the cryptosphere see John McAfee as a laughable figure who shills anything for a buck or two and he mostly gets ignored and sniggered at. As crazy as he is on Twitter, this film reveals another side of JM that you may not be aware of. The documentary may be misinformed or edited to suit the narrative of the writer but it’s clear to see JM’s decision making shown in the documentary echoes how he reacts still on Twitter.
A short introduction of the film:
John McAfee became a multi-millionaire after creating a prominent antivirus software, and later relocated to Belize. In April 2012, national police raided McAfee’s estate based on suspicions of drug manufacture or trafficking. Later that year McAfee’s neighbor Greg Faull was murdered and McAfee went into hiding before crossing the border to Guatemala and being deported back to the United States. The documentary suggests that McAfee was involved in the murder due to a feud between him and Faull over McAfee’s dogs. McAfee was never charged with any crime in Belize.

https://preview.redd.it/yy1rgc2b44921.png?width=1280&format=png&auto=webp&s=b1aebf8d0c18991169997257f0ab7ca8f359dda2

5. Cryptocurrencies: Last Week Tonight with John Oliver (HBO)

We all need a good laugh to go through this devastating bear market in the cryptosphere and there’s no better option than watching cryptocurrency being introduced by comedian John Oliver. You will probably not get any in-depth knowledge after watching this video but you sure will get a good laugh. Put your mind away from the market and just enjoy the video.

https://preview.redd.it/kc49wqrd44921.png?width=1280&format=png&auto=webp&s=d1dcc3e97bdbfaa7b77ffcec7b8e4a8a9cc40d6f
submitted by bolyus21 to Bitcoin [link] [comments]

How Bitcoin leads to wealth decentralization and ends usury

Bitcoin and comparable cryptocurrencies will lead to a more equal global distribution of wealth. I will explain here how this will happen.
Imagine for a moment you mined 50,000 Bitcoin in 2009. If you still had them today, you would be very rich. Chances are however that you would have sold them by now. Why is that?
You mined your Bitcoin essentially for free. The type of person who spends his time mining cryptocurrency probably isn't a millionaire, as millionaire have more time consuming obligations (and the money to afford different hobbies).
So, you find yourself in the possession of something that could fulfill your dreams. By mid 2011, selling your Bitcoin would ensure that you receive 1.5 million dollar, enough to quit your cubicle-job and focus your life on the things you really care about.
You could continue to hold and hope you receive more money than you need to live a happy life, but why would you? Competing cryptocurrencies are emerging and the price is falling. Large media like Wired have announced the death of Bitcoin and nobody knows how much longer the system will last.
Any sane man would step out by the time he has enough money to be financially independent, to end his humiliation of working for someone else.
The only reason to hold onto your Bitcoin in such a situation would be because you don't really need the wealth anyway. However, even people who are already rich will eventually wish to led go of their Bitcoin. An example are the Winklevoss twins. They own 1% of all Bitcoin, but can't really sell them as they would crash the price. Thus they are forced to look for outside investors by creating an ETF.
The question you might ask is: "Why would I ever want to sell my Bitcoin anyway?" When enough people hoard their Bitcoin, a rival cryptocurrency system will eventually emerge. If the distribution of wealth in the Bitcoin system becomes too unequal, there is more reason for people to step into a rival cryptocurrency. Thus, there is a direct incentive for the richest Bitcoin owners to let go of their coins.
Bitcoin will not last forever, because when human greed gets out of hand, it destroys the integrity of the bitcoin financial system. The reason we never stepped out of the dollar, despite the obvious greed of our banking elite, is because we did not have such a choice. Rival currencies created by libertarians were centralized in nature, and always shut down by government. The only reason Bitcoin survives is because it can't be shut down.
What does this mean? The answer is that we have ended the misery created by usury, the practice of gaining wealth simply by owning wealth, which is the basis of our modern economic system. The poor are forced to go into debt, to go to college, own a home or receive medical treatment.
In previous eras, civilizations had the practice of Jubilee. Every few years, debts would be forgiven, and civilization had an economic restart, to prevent excessive concentration of wealth. In our new economic system, uncertainty is the great equalizer. Uncertainty forces people to take what they need, instead of pursuing maximum profit. Deflation forces people to spend wisely, instead of excessively.
Through peer to peer technology, we have created a new Jubilee festival. Bitcoin is the first Jubilee. The poor step into Bitcoin first. Eventually speculators follow, and finally banks follow. Thus wealth is redistributed from the top of the pyramid to the bottom. Finally, Bitcoin falls victim to our greed and another new alternative will emerge. The price of Bitcoin collapses, leading to a reshuffling of the global distribution of wealth.
The present day rulers depend on force to preserve the status quo. Their wealth depends on the dollar, and the dollar is backed by oil. Oil is sold in dollars, because the US government has the power to overthrow rulers who wish to sell oil in another currency. The US government gains this power by taxing their own citizens, which is made possible by poor people's inability to hide what little wealth they have. They did not count on the dollar losing its value because of people around the world abandoning it in droves.
The solution to our present day economic system is found in chaos, a state of order that emerges in the absence of control. The chaos of spontaneously emerging digital currencies will destroy governments, fortunes, banks and hierarchies that depend on force.
submitted by rational to Bitcoin [link] [comments]

Bitcoin can now buy a citizenship? Newcomers need to urgently read the 'Time traveler post' from 8 months ago!

Original post: http://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be. I don't want to waste any of your time, so I'm merely going to explain what happened. On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxembourg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by coolcityboy to Bitcoin [link] [comments]

r/Bitcoin recap - September 2018 - V2

Hi Bitcoiners!
This is a reworked repost of the 21st monthly Bitcoin news recap. I'm testing out a new format where I list items by topic instead of date so they are easier to digest for the reader. I would love to hear your feedback! (on the categories, the new format vs. the old,...)
For those unfamiliar with these recaps, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in Bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in September 2018
Adoption * The Lightning Network surpasses 100 bitcoin in network capacity * Someone paying with bitcoin in Rovereto, Italy at a 20% discount * Someone pays for a car wash in Brisbane with bitcoin * The biggest block yet is mined at 2.26MB * Someone gets a speaker fee in bitcoin after speaking for developers at a bank * A Butcher shop in Venezuela accepting bitcoin * Someone’s story of travelling across 18 countries using 1 btc * Swissquote advertises Cryptocurrency trading on some office windows * People discuss how expensive bitcoin ATMs are
Development * Someone working on a 3D cryptocurrency trading interface * Someone set up their Bitcoin full node + Lightning Network node following a Github tutorial * A new Lightning desktop app by Lightning Labs * The release of the lnd v0.5-beta and C-lightning v0.6.1 * The future of Lightning by Elizabeth Stark * Someone created their own Lightning Network-powered Cola machine
Security * A Chrome extension got hacked and tried to steal private keys to cryptocurrency wallets * Someone tried to attack Slush’s Lightning Network node with a 12 bitcoin capacity * Google Play takes down misleading bitcoin wallets * Japanese exchange Zaif gets hacked for $37M worth of bitcoin * An important bug is discovered and gets patched in Bitcoin Core 0.16.3
Mining * A look into an illegal bitcoin mining operation in an abandoned power plant in Russia * Slush Pool introduces an open-source operating system for some of Bitmain’s mining machines * Samsung is planning to build 10nm Asic mining chips
Business * The Goldman Sachs CFO on speculation about the bank’s bitcoin trading activities * Coinbase is exploring a bitcoin ETF * Bitmain is now planning an IPO at 16% of their original size * Canada approves a bitcoin trust fund * Morgan Stanley offers bitcoin derivates to its clients * The Robinhood investing app is making millions by selling user data to HFT firms * Google ends its cryptocurrency advertising ban * Bakkt on its first Bitcoin futures contracts
Research * An analysis of $1B Bitcoins on the move * As the Lightning Network grows it will become more difficult to track its growth * A $193M bitcoin transaction for a $0.19 fee * A collection of articles and research on PoW’s efficiency * Bitcoin’s energy consumption in comparison to gold mining, paper money printing, the banking system and governments * Europol research shows that bitcoin has not been used to fund any terrorist attacks
Education * A Bitcoin explainer someone spent a year on * An infographic on merkle trees * A discussion on why it is unwise to use bitcoin for crime
Regulation & Politics * The legal status of Bitcoin globally * How Roman coins took hundreds of years to lose their value * US regulators approve Winklevoss Twins’ fiat-backed stablecoin * Hayek on taking money out of the hands of the government in 1984 * Some cryptocurrency businesses in the US have asked US congress to hurry up with regulation * The Prime Minister of Malta on blockchains and cryptocurrencies
Financial incumbents * The US and EU cut Iran off the SWIFT system through threatening SWIFT executives with criminal charges * Visa and Mastercard forced to pay $6.2B for over-charging on credit cards * The Danske Bank CEO quits over a $234B money laundering scandal
Price & Trading * The bitcoin price is at an all-time high in Iran * People discuss the bitcoin price
Fun & Other * A reminder that bitcoin can’t be eaten by the family pet * There is a Bitcoin ‘glyph’ in iOS 12 * Bitcoin posters in Brighton * Bitcoin from a teenager’s point of view * Bitcoin on who wants to be a milllionaire * Scrabble adds Bitcoin to its dictionary
submitted by SamWouters to Bitcoin [link] [comments]

Cryptocurrencies plunge for the week with Bitcoin still below USD$6,550, forecasters project 54% per annum growth in the Cryptocurrency ATM industry over 5 years and Coinbase explores launching a Bitcoin ETF with BlackRock

Developments in Financial Services

Regulatory Environment

General News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

An investment client asked about Bitcoin, here is my memo response

What are Bitcoin, How do Bitcoins Work and Why Should We Care? November 24, 2013
Below is an actual email I sent to one of my top clients, who is a global business leader, when we were discussing Bitcoin today.
— I’ve removed any confidential information and I think the content makes for a decent and informative article about how Bitcoins work.
[I realize some technical details -- such as Bitcoin mining-- are not fully explained - this was because I wrote this for a specific person based on the style that person prefers.]
Hi ____,
(Excuse the long note, it will answer the questions you asked and also fully equip you for cocktail /water cooler conversations which I GUARANTEE will come up!)
Bitcoin works by allowing direct transfer of money/ coins peer to peer anywhere in the world…the rational for the price increase is due to supply and demand and increasing signs of this being a real and viable thing.
It’s fascinating.
HOW A very complex computer program on a shared network creates (to be mined) the digital “coins”which are basically a series of numbers….each one is unique.
WHAT These digital coins can be easily transferred, converted to USD, EUR, CNY or used to purchase tens of thousands of goods online. (Every major hacker and academic has attempted to counterfeit, hack or find flaws and numerous papers have been written which say it won’t likely happen due to the way the code is written and open source and other details.)
This has created a completely decentralized global currency instantly transferable and untrackable.
The idea of digital currency came about in the 80s — five years ago Bitcoins started — at first very experimental with tech geeks buying pizzas etc and traded at around .22 then a dollar each.
RISE IN VALUE When Cyprus collapsed, Bitcoin had it’s first major surge as it was seen by some as a gold-like alternative but with easy transport across borders. It was also seen as a black market facilitator due to its decentralized nature with underground goods reaching hundreds of millions in sales.
WINKLEVOSS Shortly afterwards, the Winklevoss twins (VCs and Facebook lawsuit winners) bought about $90 million worth or 1% of Bitcoin. Winklevoss targets a $400B market cap for Bitcoin (from $7-9b today) (someone else appears to have bought $150 mm worth this week, it’s unknown who)
CHINA / BAIDU As the price reached $100 and $200, China became interested — it’s in the news there daily now.
The massive Chinese state internet company Baidu announced they will accept Bitcoin as a form of payment. It’s unlikely Baidu would do this without the tacit approval of the Chinese government (who also knows this is a slight toward the USD which is not overt)
US Senate hearings this month were surprisingly favorable and unlikely to lead to attempts at heavy-handed regulation. (Which is logistically nearly impossible given the de-centralized nature, you would have to shut down the internet to stop it entirely)
The China interest and US hearings brought Bitcoin past the $700-800 mark in very volatile trading. (Mkt cap of 7-9 billion USD)
ACCESS /DEMAND There is only one major exchange in the US – called MtGox — it is plagued by delays from tens of thousands of applications for new accounts….just processing wires takes a week or more and an AML check takes 30 days due to backlog.
The main broke exchange in China received an investment from Lightspeed Venture Partners and China is getting something like 60,000 inquiries a day.
WHY I think Bitcoin is transformative for a few reasons:
Almost a year ago I had a conversation about Bitcoin with —-deleted——- [a leading Venture Capitalist. Basically he's interested in the space, we are looking for ways to participate]
Since then, especially based on China, I’ve become more convinced.
We are talking about global access now….. when else have Chinese citizens and EU and US been able to buy the same investment on the same platform? We know the significance of Chinese savings and interest in non fiat currency….as well as the transformative power of decentralized collaborative networks….as well as the risks in conventional global fiat currency.
Clearly if we talk in terms of it replacing even a tiny fraction of real global currency it is a huge deal…..too much in the air for that, but I think access and interest alone can bring it to a value somewhere around AAPL or the $400B the Winkelvoss twins target….this is still a small drop compared to real currency numbers but would place Bitcoin at $30-40,000 per coin.
Risks are high, it is very volatile….one article shared at [major firm] says it will be back down to $250 by months end. It can return to thin air and head back down to a penny. I thought government regulation was the largest risk but the Senate has missed that boat…unless some major event creates a compelling national need, they are unlikely to try now…toothpaste is out of the tube. So now the biggest risk is whether this is real or not….this is why China and Virgin etc. are significant.
[deleted specific recommendations particular to this person etc.]
Let me know if you want me to look at ____ XYZ – we should participate.
That’s my two cents worth! (Or .00000023 Bitcoin worth)
-Bruce
Bruce Fenton President and Managing Director, Atlantic Financial Inc.
W
submitted by Arabiansands to Bitcoin [link] [comments]

What you need to know about bitcoin?

13 Things You Need to Know About Bitcoin
  1. The birth of Bitcoin
The origins of bitcoin trace back to 2008, when its creator, who went by the pseudonym Satoshi Nakamoto, published a proof of concept for Bitcoin. The proof was then published to a cryptocurrency mailing list in 2009. Nakamoto left the project in 2010 and disappeared, but other developers picked up the work. Bitcoin's birthday is Jan. 3, when Nakamoto mined the first 50 units of the currency.
  1. An elusive creator
The true identity of Bitcoin's creator has never been confirmed. Newsweek claimed to have found Bitcoin's creator in 2014, identifying Temple City, Calif., resident Dorian Satoshi Nakamoto. He has vigorously denied it. In 2015, an Australian entrepreneur named Craig Wright said he was Bitcoin's creator, but he couldn't produce the evidence to support his claim. Whoever Nakamoto is, that person is very rich, as the creator is estimated to have mined a million bitcoins in the currency’s early days.
  1. Very expensive pizza
The first transaction involving bitcoin was reported on May 22, 2010, when a programmer identified as Laszlo Hanyecz said he "successfully traded 10,000 bitcoins for pizza." As of Nov. 28, 2017, 10,000 bitcoins are worth about $99 million.
  1. You can spend bitcoins
While it may not seem like it, people continue to use bitcoins to buy stuff. The largest businesses to accept the cryptocurrency include Overstock.com, Expedia, Newegg and Dish.
  1. Federal Bureau of Bitcoin
At one point, the U.S. government was one of the largest holders of bitcoin. In 2013, after the FBI shut down Silk Road, a darknet site where people could buy drugs and other illicit goods and services, it took over bitcoin wallets controlled by the site, one of which held 144,000 bitcoins. Investors have been making a killing by bidding on government-seized bitcoins.
  1. A mountain-sized setback
In early 2014, Bitcoin suffered a devastating loss after the alleged hacking of Mt. Gox, a Japanese exchange. About $460 million of the currency (in 2014 value) was stolen. It was the largest loss of bitcoins ever and raised concerns about how secure the currency was.
  1. The billionaires' takes
Warren Buffett, perhaps the most famous investor in the world, was not so keen on Bitcoin one of the only times he addressed the currency. "Stay away from it. It's a mirage, basically," he told CNBC. "The idea that it has some huge intrinsic value is a joke in my view."
Fellow billionaire investor Jamie Dimon, chief executive of JPMorgan Chase, had even stronger words about Bitcoin: “You can’t have a business where people are going to invent a currency out of thin air. It won’t end well … someone is going to get killed and then the government is going to come down on it.”
But not all billionaires are against Bitcoin. Mark Cuban has said its value is inflated, but he recently invested in a venture capital fund that backs cryptocurrency. Richard Branson, however, has spoken more optimistically about it.
  1. Super wealthy twins and a smart teen
Other notable investors in Bitcoin include Cameron and Tyler Winklevoss (the Harvard-educated twins who sued Mark Zuckerberg claiming that Facebook was based on an idea they'd had). They bought $11 million worth of Bitcoin in 2013, an amount said to be about 1 percent of all bitcoins in circulation at that time. When Bitcoin's value reached more than $11,000 in early December, the twins were declared the first Bitcoin billionaires. The Winklevoss twins have been petitioning the SEC to create a bitcoin exchange traded fund. The agency rejected the idea earlier this year.
Another is investor and entrepreneur Erik Finman, who invested $1,000 into Bitcoin when he was 14 years old and is now a millionaire.
  1. Celebrities want in
Celebrities have also expressed enthusiasm for the cryptocurrency. Actor and Goop founder Gwyneth Paltrow advises Abra, a Bitcoin wallet, and Ashton Kutcher, Nas and Floyd Mayweather have all invested in Bitcoin startups.
  1. Support from a big financial institution
In August 2017, Fidelity Investments became a rare standout among financial institutions in embracing Bitcoin and other cryptocurrencies. The company allows its clients to use the Fidelity website to view their bitcoin holdings held through digital wallet provider Coinbase. "This is an experiment in the spirit of learning what these crypto assets are like and how our customers may want to interact with them," Hadley Stern, senior vice president and managing director at Fidelity Labs, told Reuters.
  1. A hard fork
On Aug. 1, 2017, Bitcoin experienced what's being called a "hard fork" as a result of a few issues, including the limited number of transactions that can be processed per second. Essentially, the cryptocurrency split into two, with Bitcoin Cash debuting. Here's how Rob Marvin of PCMag explains the situation: "The Bitcoin fork speaks to a fundamental ideological rift over what's more important: preserving the decentralized nature and independent control of the Bitcoin network, or accelerating transaction speeds to make the cryptocurrency more viable for mainstream ecommerce and payments." Bitcoin Cash allows larger blocks of currency and more transactions per second.
  1. Jaw-dropping
At the end of November 2017, Bitcoin's value reached toward $10,000 per unit. There are some 16.7 million Bitcoin units in circulation, and the cryptocurrency's market capitalization ($167,156,585,840 as of Nov. 28, 2017) is actually higher than that of Disney, McDonald's or IBM, and it is slightly above that of GE.
  1. Publicly traded
As of early December, there is another way to invest in Bitcoin without possessing some of the digital currency. On Dec. 10, 2017, Bitcoin futures -- "financial contracts obligating the buyer to purchase an asset or the seller to sell an asset," according to Investopedia -- became available on Cboe, a Chicago exchange. What this means for the future of Bitcoin is uncertain, but some argue it will help stabilize the cryptocurrency's wild price fluctuations.
submitted by Itob_io to u/Itob_io [link] [comments]

Winklevoss Twins Explain Bitcoin Winklevoss Twins Explain Bitcoin $9,000 Bitcoin Bullish BTC Winklevoss twins Predict Bright Future for Crypto Winklevoss twins explain the future of Bitcoin - RobGroove ... The Winklevoss Twins Explain Bitcoin  Disruption Mag

The renowned trader Dave Portnoy recently invited the Winklevoss twins to teach him something about Bitcoin.. On his Twitter profile, followed by over 1.7 million people, he then posted the video of the meeting, which shows Portnoy welcoming Tyler and Cameron Winklevoss, the founders of the Gemini crypto exchange, to his home and asking them several questions. The Winklevoss Twins are back in the news. This time, they’re explaining bitcoin and the concept of cryptocurrency to online day trader Dave Portnoy, who founded Barstool Sports and “literally has no idea what bitcoin is.”The Winklevoss Twins Know What to SayThese are the words he said to his cameraman prior to an interview with the Twins. Bitcoin is 10 times Better than Gold. The Winklevoss twins recognize gold as a reliable store of value due to its scarcity and counterfeiting difficulty. However, advancements in space technology leading to possible extraterrestrial mining operations could soon flood the market with gold, reversing its scarcity argument. Winklelvoss Twins Explain Musk's Plan For Gold Mining In Space To Dave Portnoy Tanzeel Akhtar 8/14/2020. Michigan couple on honeymoon shelters in hotel lobby as Hurricane Delta slams Mexico ... On Thursday (August 27), the Winklevoss twins, explained why they believe that Bitcoin is “undervalued by a multiple of 45”, which means that its price could reach over $500,000.. Tyler and Cameron Winklevoss are the co-founders of Gemini Trust Company, LLC (which operates the Gemini digital asset exchange) as well as family office Winklevoss Capital Management, LLC.

[index] [20742] [8809] [45335] [7957] [15960] [13900] [13573] [39086] [46795] [1263]

Winklevoss Twins Explain Bitcoin

Tyler and Cameron Winklevoss are known for many things. Billionaire status. Taking on a social media Goliath. And as early bitcoin investors. If you ask them... Bitcoin is the FUTURE of MONEY! To JOIN: http://www.BitClubPro.com SKYPE: netglobalusa $9,000 Bitcoin Bullish BTC Winklevoss twins Predict Bright Future for Crypto ... Winklevoss twins explain the future of Bitcoin - RobGroove Crypto #1 - Duration: 10:42. Rob Groove 39,579 views. 10 ... Dave Portnoylearns about the world of Bitcoin with the Winklevoss Twins. Check out Barstool Sports for more: http://www.barstoolsports.com Follow Barstool Sp... The Winklevoss twins explain the future of Bitcoin including how it compares to gold and how there is still so much more potential for growth.

#