ask an IE anything

[catstalking]

It's funny I can buy more with less of gold. Yet it takes more dollars to buy less. And you think that something be backed by gold is bad. Man, you need something more then 1st grade economics. When it cost you more to buy something. That is a decrease in value.

you're misunderstanding, it's not that gold itself is bad, it's that the very concept of backing anything with something else is fundamentally flawed

trading physical gold, while inefficient, was a good and fair system
trading Bitcoin is efficient, while also being a good and fair system

"backing" fiat paper with ANYTHING is literally inviting bankers to destroy you with fractional reserve banking

 

[catstalking]

Why hasn't UPS started their own "AMAZON"?
We have the money and del network.
At least to slow down the world takeover by bezos.

amazon doesn't actually make money on their delivery network, they just use that to stifle competition

anyways, first movers are impossible to unseat at their own game, we'd have to create something very different to peel back amazon and they've already hoovered up all the best talent, for now

 

[jimdandy3]

If the Internet doesn't work, how do you use Bitcoin? Just curious.

Don't know what that means...Internet don't work???? Bitcoin uses interconnected computers. Services like Blockstream: Bitcoin and digital asset infrastructure and Starlink are satilite based.

 

[jimdandy3]

So it goes back to the dollar as long as we have a government.

Correction...As long as we have a millitary stronger than everyone else.

 

[Ou812fu]

i don't understand your point, that the US govt is up to their eyeballs in debt?

yeah, that's kind of why Bitcoin was created, it is a direct hedge against the Fed

Your Bitcoin is based off of dollar value. Not hard to figure out my point.

 

[Ou812fu]

i don't understand your point, that the US govt is up to their eyeballs in debt?

yeah, that's kind of why Bitcoin was created, it is a direct hedge against the Fed

Bitcoin was created by darpa

 

[Commercial Inside Release]

Wow... You all are wrong. US dollar is backed by the war machine and violence.
Bitcoin can and will be shut off with the flick of a pen, and the flip of a few switches.

China already did just that... Shut off Bitcoin overnight, and made tons of people lose their fortunes. One problem we have here in the West, is trying to compete with a totalitarian, authoritarian government that is highly maneuverable while being such a large piece of the global economy. The US can't even figure out how to designate public restrooms, in the course of a decade.

Bitcoin will be made illegal, and replaced with a digital currency, backed by the United States' threats.

 

[Ou812fu]

Don't know what that means...Internet don't work???? Bitcoin uses interconnected computers. Services like Blockstream: Bitcoin and digital asset infrastructure and Starlink are satilite based.

If the Internet was down. How would you use Bitcoin?

 

[jimdandy3]

Wow... You all are wrong. US dollar is backed by the war machine and violence.
Bitcoin can and will be shut off with the flick of a pen, and the flip of a few switches.

China already did just that... Shut off Bitcoin overnight, and made tons of people lose their fortunes. One problem we have here in the West, is trying to compete with a totalitarian, authoritarian government that is highly maneuverable while being such a large piece of the global economy. The US can't even figure out how to designate public restrooms, in the course of a decade.

Bitcoin will be made illegal, and replaced with a digital currency, backed by the United States' threats.

Nope not banned. Just not legal tender.

What Does The Shanghai/China Court Ruling Really Mean For Bitcoin?

A Shanghai court seemed to validate bitcoin as a unique digital currency, but deeper analysis shows a more nuanced story

www.forbes.com

 

[jimdandy3]

If the Internet was down. How would you use Bitcoin?

Do you mean every computer that comprises the internet were to stop working?? Computers can talk to each other without the internet.

 

[Ou812fu]

Do you mean every computer that comprises the internet were to stop working?? Computers can talk to each other without the internet.

If the Internet was down, how would you use Bitcoin? Not a hard question.

 

[Thebrownblob]

If the Internet was down, how would you use Bitcoin? Not a hard question.

Question, I’ve always wondered. Not saying bitcoin has no value just saying I don’t really understand how all that works.

 

[Ou812fu]

Question, I’ve always wondered. Not saying bitcoin has no value just saying I don’t really understand how all that works.

It's made up code, stored in the cloud. That was created by DARPA.

DARPA Will Spend $20 Million To Search For Crypto's Holy Grail

Defense and intelligence research agencies are independently looking for ways to make encryption more flexible and practical.

www.forbes.com

 

[anonymous23456]

It's made up code, stored in the cloud. That was created by DARPA.

DARPA Will Spend $20 Million To Search For Crypto's Holy Grail

Defense and intelligence research agencies are independently looking for ways to make encryption more flexible and practical.

www.forbes.com

"The Bitcoin blockchain uses the SHA-256 hashing algorithm to calculate hashes. When a computer puts a string through this algorithm, the algorithm will turn it into a long hex code unique to the string. If the same string is re-hashed, the result should always be the same."

 

[jimdandy3]

If the Internet was down, how would you use Bitcoin? Not a hard question.

If all the computers stopped working then yes Bitcoin would be hard to use. But is that ever going to happen?

 

[Ou812fu]

"The Bitcoin blockchain uses the SHA-256 hashing algorithm to calculate hashes. When a computer puts a string through this algorithm, the algorithm will turn it into a long hex code unique to the string. If the same string is re-hashed, the result should always be the same."

DARPA study finds blockchain not as decentralised as assumed

Blockchain not as decentralised as many assume, finds Pentagon sponsored research

www.theregister.com

 

[Ou812fu]

If all the computers stopped working then yes Bitcoin would be hard to use. But is that ever going to happen?

If the Internet is down, can the computers still deal with Bitcoin?

 

[anonymous23456]

If the Internet is down, can the computers still deal with Bitcoin?

It doesn't need the internet but it needs to synchronize all bitcoin info worldwide. Sure, they can put a computer into an ATM machine and calculate your bitcoin there but the ATM in the next town/city does not know how much you have.

 

[jimdandy3]

It's made up code, stored in the cloud. That was created by DARPA.

DARPA Will Spend $20 Million To Search For Crypto's Holy Grail

Defense and intelligence research agencies are independently looking for ways to make encryption more flexible and practical.

www.forbes.com

Do they control the private keys of the bitcoin mined in the genesis block? The bitcoin that has not moved since they were mined.

 

[Ou812fu]