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Posts: 332
0 votes RE: TRUMP WON

bitcoin is not "paid for," it's mined, retard

Imperfect Priest of Determinism
Posts: 33561
0 votes RE: TRUMP WON

No one will acquire Bitcoin for free. Everyone will have to pay for it.

One day it'll be worth 1 million dollars.

By then, how much will a dollar be worth though? 

The average person will have something like 0.0000001 BTC. And Bitcoin will have to go to 2 million dollars in order to double your money with it.

That sounds hilariously inefficient to go with as a system of counting, they'd be better off treating the currency similar to the metric system once it goes that many decimal places. 

It's worth more than gold, it's not going to socialize a society.

And yet it can be digitally mined: 

Posted Image

If it catches on too much it'll wreck the environment too, apparently: 

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Ę̵̚x̸͎̾i̴͚̽s̵̻͐t̷͐ͅe̷̯͠n̴̤̚t̵̻̅i̵͉̿a̴̮͊l̵͍̂ ̴̹̕D̵̤̀e̸͓͂t̵̢͂e̴͕̓c̸̗̄t̴̗̿ï̶̪v̷̲̍é̵͔
Posts: 817
0 votes RE: TRUMP WON

bitcoin is not "paid for," it's mined, retard

 It's POW (proof of work.)

With the current mining difficulty it cost about 24 grand in electricity to mine 1 BTC. The miner then sells it.

It's paid for AND the miner has to sell some in order to keep mining it. 

 

Posts: 332
0 votes RE: TRUMP WON

Regular money is already harder to count because of integers mixed with decimals, devalued currency, and fluctuating prices. When you have a certain number of Bitcoin it's easier to account for.

 

The current finance system is way worse for the environment. Bitcoin could be powered by nuclear energy. Low energy policies are a disaster from the reactionary liberals.

Imperfect Priest of Determinism
Posts: 817
0 votes RE: TRUMP WON

After 10 minutes the bitcoin is released and shared to each miner. Whoever has the most hashpower gets more bitcoin.

So no a miner will not get 3 bitcoin and change every 10 minutes.

Posts: 332
0 votes RE: TRUMP WON

geagle stfu i never said bitcoin itself is socialist. just that it will take crypto being empowered for socialism to eventually be.

Imperfect Priest of Determinism
last edit on 11/12/2024 4:01:10 PM
Posts: 817
0 votes RE: TRUMP WON

Regular money is already harder to count because of integers mixed with decimals, devalued currency, and fluctuating prices. When you have a certain number of Bitcoin it's easier to account for.

 

The current finance system is way worse for the environment. Bitcoin could be powered by nuclear energy. Low energy policies are a disaster from the reactionary liberals.

 The largest mining facility is hydro powered so it's pretty green.

You should get into Ethereum instead. It used to be POW but now it's been changed to POS. It has smart contracts and you can make your own tokens on it. It's better. 

Posts: 817
0 votes RE: TRUMP WON

geagle stfu i never said bitcoin itself is socialist

 It's capitalist.

Posts: 332
0 votes RE: TRUMP WON

geagle stfu i never said bitcoin itself is socialist

 It's capitalist.

 It's neutral.

 

 

Regular money is already harder to count because of integers mixed with decimals, devalued currency, and fluctuating prices. When you have a certain number of Bitcoin it's easier to account for.

 

The current finance system is way worse for the environment. Bitcoin could be powered by nuclear energy. Low energy policies are a disaster from the reactionary liberals.

 The largest mining facility is hydro powered so it's pretty green.

You should get into Ethereum instead. It used to be POW but now it's been changed to POS. It has smart contracts and you can make your own tokens on it. It's better. 

 I was thinking Solana and I was responding to Turncoat's generic liberal talking points.

Imperfect Priest of Determinism
last edit on 11/12/2024 4:39:24 PM
Posts: 817
0 votes RE: TRUMP WON

Go to the app store. Get the Phantom wallet. It's for the Solana blockchain. It can work with a few others aswell. 

Back up the private key.

Get an account with an onramp. Coinbase or some shit. Get this done before the next step.

If you lack the means to transfer money from a bank, and you probably do, go to a Bitcoin atm. Feed it cash, it'll give you a private key.

Add the key to a bitcoin wallet. Send the btc to your exchange. Trade it for Solana.

The bullrun is late but it's blowing up now. If you miss this opportunity, you'll have to wait 4 years to ride the next wave.

Jackass

last edit on 11/12/2024 4:54:01 PM
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