Satoshi Nakamoto. Who is Satoshi Nakamoto? White paper ...

It's the time of year when Wikipedia asks for donations, but I won't give a single Satoshi until the Wikimedia foundation accepts Bitcoin. The NYC chapter no longer appears to be a way around this.

submitted by miscreanity to Bitcoin [link] [comments]

Subreddit Stats: btc top posts from 2019-01-06 to 2020-01-05 11:19 PDT

Period: 363.85 days
Submissions Comments
Total 1000 86748
Rate (per day) 2.75 237.19
Unique Redditors 317 7747
Combined Score 194633 356658

Top Submitters' Top Submissions

  1. 31014 points, 162 submissions: Egon_1
    1. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... (515 points, 206 comments)
    2. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. (502 points, 237 comments)
    3. "It’s official Burger King just accepted Bitcoin Cash and GoC token as a payment option in Slovenia." (423 points, 112 comments)
    4. "HOLY SATOSHI! 😱😱 I did it! A smart card that produces valid BitcoinCash signatures. Who would love to pay with a card—to a phone?? Tap took less than a second!👟..." (368 points, 105 comments)
    5. Chrome 'Has Become Surveillance Software. It's Time to Switch' -> Brave to support BCH! (330 points, 97 comments)
    6. Gavin Andresen (2017): "Running a network near 100% capacity is irresponsible engineering... " (316 points, 117 comments)
    7. "Evidently @github has banned all the Iranian users without an ability for them to download their repositories. A service like Github must be a public good and must not be controlled by a centralized entity. Another great example of why we as a society need to make web3 a reality" (314 points, 117 comments)
    8. Roger Ver: "Bitcoin Cash acceptance is coming to thousands of physical shops in Korea" (313 points, 120 comments)
    9. Paul Sztorc: “Will people really spend $70-$700 to open/modify a lightning channel when there's an Altcoin down the street which will process a (USD-denominated) payment for $0.05 ? Many people seem to think yes but honestly I just don't get it” (306 points, 225 comments)
    10. Food For Thought (303 points, 105 comments)
  2. 29021 points, 157 submissions: MemoryDealers
    1. Bitcoin Cash is Lightning Fast! (No editing needed) (436 points, 616 comments)
    2. Brains..... (423 points, 94 comments)
    3. Meanwhile in Hong Kong (409 points, 77 comments)
    4. Ross Ulbricht has served 6 years in federal prison. (382 points, 156 comments)
    5. Just another day at the Bitcoin Cash accepting super market in Slovenia. (369 points, 183 comments)
    6. Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers. (369 points, 207 comments)
    7. History Reminder: (354 points, 245 comments)
    8. It's more decentralized this way. (341 points, 177 comments)
    9. The new Bitcoin Cash wallet is so fast!!!!! (327 points, 197 comments)
    10. The IRS wants to subpoena Apple and Google to see if you have downloaded crypto currency apps. (324 points, 178 comments)
  3. 6909 points, 37 submissions: BitcoinXio
    1. Tim Pool on Twitter: “How the fuck are people justifying creating a world like the one's depicted in Fahrenheit 451 and 1984? You realize that censorship and banning information was a key aspect of the dystopian nightmare right?” (435 points, 75 comments)
    2. The creator of the now famous HODL meme says that the HODL term has been corrupted and doesn’t mean what he intended; also mentions that the purpose of Bitcoin is to spend it and that BTC has lost its value proposition. (394 points, 172 comments)
    3. Erik Voorhees on Twitter: “I wonder if you realize that if Bitcoin didn’t work well as a payment system in the early days it likely would not have taken off. Many (most?) people found the concept of instant borderless payments captivating and inspiring. “Just hold this stuff” not sufficient.” (302 points, 66 comments)
    4. Bitfinex caught paying a company to astroturf on social media including Reddit, Twitter, Medium and other platforms (285 points, 86 comments)
    5. WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
    6. Craig Wright seems to have rage quit Twitter (252 points, 172 comments)
    7. No surprise here: Samson Mow among other BTC maxi trolls harassed people to the point of breakdown (with rape threats, etc) (249 points, 85 comments)
    8. On Twitter: “PSA: The Lightning Network is being heavily data mined right now. Opening channels allows anyone to cluster your wallet and associate your keys with your IP address.” (228 points, 102 comments)
    9. btc is being targeted and attacked, yet again (220 points, 172 comments)
    10. Brian Armstrong CEO of Coinbase using Bitcoin Cash (BCH) to pay for food, video in tweet (219 points, 66 comments)
  4. 6023 points, 34 submissions: money78
    1. BSV in a nutshell... (274 points, 60 comments)
    2. There is something going on with @Bitcoin twitter account: 1/ The URL of the white paper has been changed from bitcoin.com into bitcoin.org! 2/ @Bitcoin has unfollowed all other BCH related accounts. 3/ Most of the posts that refer to "bitcoin cash" have been deleted?!! Is it hacked again?! (269 points, 312 comments)
    3. "Not a huge @rogerkver fan and never really used $BCH. But he wiped up the floor with @ToneVays in Malta, and even if you happen to despise BCH, it’s foolish and shortsighted not to take these criticisms seriously. $BTC is very expensive and very slow." (262 points, 130 comments)
    4. Jonathan Toomim: "At 32 MB, we can handle something like 30% of Venezuela's population using BCH 2x per day. Even if that's all BCH ever achieved, I'd call that a resounding success; that's 9 million people raised out of poverty. Not a bad accomplishment for a hundred thousand internet geeks." (253 points, 170 comments)
    5. Jonathan Toomim: "BCH will not allow block sizes that are large enough to wreak havoc. We do our capacity engineering before lifting the capacity limits. BCH's limit is 32 MB, which the network can handle. BSV does not share this approach, and raises limits before improving actual capacity." (253 points, 255 comments)
    6. What Bitcoin Cash has accomplished so far 💪 (247 points, 55 comments)
    7. Which one is false advertising and misleading people?! Bitcoin.com or Bitcoin.org (232 points, 90 comments)
    8. A message from Lightning Labs: "Don't put more money on lightning than you're willing to lose!" (216 points, 118 comments)
    9. Silk Road’s Ross Ulbricht thanks Bitcoin Cash’s [BCH] Roger Ver for campaigning for his release (211 points, 29 comments)
    10. This account just donated more than $6600 worth of BCH via @tipprbot to multiple organizations! (205 points, 62 comments)
  5. 4514 points, 22 submissions: unstoppable-cash
    1. Reminder: bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (436 points, 89 comments)
    2. Peter R. Rizun: "LN User walks into a bank, says "I need a loan..." (371 points, 152 comments)
    3. It was SO simple... Satoshi had the answer to prevent full-blocks back in 2010! (307 points, 150 comments)
    4. REMINDER: "Bitcoin isn't for people that live on less than $2/day" -Samson Mow, CSO of BlockStream (267 points, 98 comments)
    5. "F'g insane... waited 5 hrs and still not 1 confirmation. How does anyone use BTC over BCH BitcoinCash?" (258 points, 222 comments)
    6. Irony:"Ave person won't be running LN routing node" But CORE/BTC said big-blocks bad since everyone can't run their own node (256 points, 161 comments)
    7. BitPay: "The Wikimedia Foundation had been accepting Bitcoin for several years but recently switched pmt processors to BitPay so they can now accept Bitcoin Cash" (249 points, 61 comments)
    8. FreeTrader: "Decentralization is dependent on widespread usage..." (195 points, 57 comments)
    9. The FLIPPENING: Fiat->OPEN Peer-to-Peer Electronic Cash! Naomi Brockwell earning more via BitBacker than Patreon! (193 points, 12 comments)
    10. LN Commentary from a guy that knows a thing or 2 about Bitcoin (Gavin Andresen-LEAD developer after Satoshi left in 2010) (182 points, 80 comments)
  6. 3075 points, 13 submissions: BeijingBitcoins
    1. Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo! (410 points, 166 comments)
    2. Chess.com used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I'm pleased to announce that they now accept Bitcoin Cash! (354 points, 62 comments)
    3. WSJ: Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds (348 points, 191 comments)
    4. Bitcoiners: Then and Now [MEME CONTEST - details in comments] (323 points, 72 comments)
    5. I'd post this to /Bitcoin but they would just remove it right away (also I'm banned) (320 points, 124 comments)
    6. So this is happening at the big protest in Hong Kong right now (270 points, 45 comments)
    7. /Bitcoin mods are censoring posts that explain why BitPay has to charge an additional fee when accepting BTC payments (219 points, 110 comments)
    8. The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
    9. The Bitcoin whitepaper was published 11 years ago today. Check out this comic version of the whitepaper, one of the best "ELI5" explanations out there. (153 points, 12 comments)
    10. Two Years™ is the new 18 Months™ (142 points, 113 comments)
  7. 2899 points, 18 submissions: jessquit
    1. Oh, the horror! (271 points, 99 comments)
    2. A few days ago I caught flak for reposting a set of graphs that didn't have their x-axes correctly labeled or scaled. tvand13 made an updated graph with correct labeling and scaling. I am reposting it as I promised. I invite the viewer to draw their own conclusions. (214 points, 195 comments)
    3. Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
    4. Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
    5. PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
    6. Nobody uses Bitcoin Cash (182 points, 88 comments)
    7. Double-spend proofs, SPV fraud proofs, and Cashfusion improvements all on the same day! 🏅 BCH PLS! 🏅 (165 points, 36 comments)
    8. [repost] a reminder on how btc and Bitcoin Cash came to be (150 points, 102 comments)
    9. Holy shit the entire "negative with gold" sub has become a shrine devoted to the guilded astroturfing going on in rbtc (144 points, 194 comments)
    10. This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
  8. 2839 points, 13 submissions: SwedishSalsa
    1. With Bitcoin, for the first time in modern history, we have a way to opt out. (356 points, 100 comments)
    2. In this age of rampant censorship and control, this is why I love Bitcoin. (347 points, 126 comments)
    3. The crypto expert (303 points, 29 comments)
    4. Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
    5. Bitcoin Cash looking good lately. (235 points, 33 comments)
    6. Roger Ver bad (230 points, 61 comments)
    7. History of the BTC scaling debate (186 points, 54 comments)
    8. MFW i read Luke Jr wants to limit BTC blocks to 300k. (183 points, 116 comments)
    9. Meanwhile over at bitcoinsv... (163 points, 139 comments)
    10. Listen people... (155 points, 16 comments)
  9. 2204 points, 10 submissions: increaseblocks
    1. China bans Bitcoin again, and again, and again (426 points, 56 comments)
    2. China bans Bitcoin (again) (292 points, 35 comments)
    3. Bitcoin Cash Network has now been upgraded! (238 points, 67 comments)
    4. So you want small blocks with high fees to validate your own on chain transactions that happen OFF CHAIN? (212 points, 112 comments)
    5. It’s happening - BTC dev Luke jr writing code to Bitcoin BTC codebase to fork to lower the block size to 300kb! (204 points, 127 comments)
    6. Former BTC maximalist admits that maxi's lied cheated and stealed to get SegWit and Lightning (201 points, 135 comments)
    7. Just 18 more months to go! (172 points, 86 comments)
    8. Bitcoin Cash ring - F*CK BANKS (167 points, 51 comments)
    9. LTC Foundation chat leaked: no evidence of development, lack of transparency (155 points, 83 comments)
    10. A single person controls nearly half of all the Lightning Network’s capacity (137 points, 109 comments)
  10. 2138 points, 12 submissions: JonyRotten
    1. 'Craig Is a Liar' – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright (309 points, 165 comments)
    2. 200,000 People Have Signed Ross Ulbricht's Clemency Petition (236 points, 102 comments)
    3. Street Artist Hides $1,000 in BTC Inside a Mural Depicting Paris Protests (236 points, 56 comments)
    4. Craig Wright Ordered to Produce a List of Early Bitcoin Addresses in Kleiman Lawsuit (189 points, 66 comments)
    5. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures (163 points, 24 comments)
    6. Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders (160 points, 50 comments)
    7. Expert Witness in Satoshi Case Claims Dr Wright's Documents Were Doctored (155 points, 44 comments)
    8. California City Official Uses Bitcoin Cash to Purchase Cannabis (151 points, 36 comments)
    9. Money Transmitter License Not Required for Crypto Businesses in Pennsylvania (141 points, 9 comments)
    10. McAfee to Launch Decentralized Token Exchange With No Restrictions (137 points, 35 comments)

Top Commenters

  1. jessquit (16708 points, 2083 comments)
  2. Ant-n (7878 points, 1517 comments)
  3. MemoryDealers (7366 points, 360 comments)
  4. Egon_1 (6205 points, 1001 comments)
  5. 500239 (5745 points, 735 comments)
  6. BitcoinXio (4640 points, 311 comments)
  7. LovelyDay (4353 points, 457 comments)
  8. chainxor (4293 points, 505 comments)
  9. MobTwo (3420 points, 174 comments)
  10. ShadowOfHarbringer (3388 points, 478 comments)

Top Submissions

  1. The perfect crypto t-shirt by Korben (742 points, 68 comments)
  2. The future of Libra Coin by themadscientistt (722 points, 87 comments)
  3. when you become a crypto trader... by forberniesnow (675 points, 54 comments)
  4. A Reminder Why You Shouldn’t Use Google. by InMyDayTVwasBooks (637 points, 209 comments)
  5. Imagine if in 2000 Apple just sat around all day shit-talking Microsoft. Apple would have never gone anywhere. Apple succeeded because they learned from their mistakes, improved, and got better. BCH should do the same. by guyfawkesfp (552 points, 255 comments)
  6. Bitcoin made The Simpsons intro! Sorry for the potato quality by Johans_wilgat (521 points, 44 comments)
  7. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... by Egon_1 (515 points, 206 comments)
  8. Can't stop won't stop by Greentoboggan (514 points, 78 comments)
  9. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. by Egon_1 (502 points, 237 comments)
  10. Blockchain? by unesgt (479 points, 103 comments)

Top Comments

  1. 211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
  2. 203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
  3. 179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
  4. 163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
  5. 161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
  6. 156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻‍♂️
  7. 155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
  8. 151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
  9. 147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
  10. 147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

[Letter] The Age of Aquarius is here. Dr Jordan Peterson please read this

Hi Dr Jordan Peterson,
I have sent an email to you regarding this however I am creating this post in case you do not receive the email. I believe this piece is of great importance to you especially because of your in depth studies into Carl Jung's work.
My research into English Gematria has it intriguing me when I applied the sequence into the words from the Old Testament. I was then able to mathematically sequence the following:
13 = God
14 = Love
15 = Good
16 = Mankind/Angel/Satan
17 = Evil
18 = Rule
19 = Total
20 = Female/Child/Wife
As you can see above, it is as if saying God Love Mankind (Angel) and will only allow those who choose Good to find him back. Mankind (Satan) Evil will eventually want to Rule Total over Child (ren) and Female/Wife. Because under that sequence, Mankind (Satan) will supposedly takeover God's place. This coincides with Greek mythology where there is a recurring theme of the Child and the Wife scheming to usurp the Father. Cronos over Uranus, Zeus over Cronos
_____________________________________________________________________________________________________________________
I then applied this English Gematria to the New Testament, mainly the name Jesus Christ. I also applied it to Euclid ofAlexandria. I understand that Jung interpreted Pisces as Christ and Anti-Christ. I experimented and put Jesus Christ as Christ, and then Euclid ofAlexandria as Anti-Christ.
What I found is that Jesus Christ represents 59. Euclid ofAlexandria represents 79. 59 is Christ, 79 is Anti-Christ
I then found out about a third pseudonym. Satoshi Nakamoto. This Bitcoin pseudonym is 69. You can now see the sequence is 59, 69, 79.
Good is 15
Mankind/Angel/Devil are 16
Evil is 17
A recurring theme is as follows:
5 -> Good, Jesus Christ
6 -> Mankind, Satoshi Nakamoto
7 -> Evil, Euclid ofAlexandria
The above is 567. The other part is:
999 -> I believe this means ushering in a new age.
I believe Satoshi Nakamoto is the last gift from the age of Pisces and we are now really entering the age of Aquarius as indicated by Jung.
The number 69 is also very related to the age of Pisces and the actual Astrology symbol of Pisces. I have attached a link to the Pisces symbol below. 6 is also the reverse of 9. 9 is the reverse of 6.
https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Symbole_du_signe_astrologique_des_poissons.png/220px-Symbole_du_signe_astrologique_des_poissons.png
Also notice that 9 is supposed to be the second fish and the above three pseudonyms combined create 999. This also symbolizes the end of the age of Pisces is coming. The approximate length of a Zodiac age is also 2000 years. 9 represents the second fish. 999 could be that we are at or were at 999/1000 of the second part of Pisces. That means we are or were at 1999/2000 of the age of Pisces

submitted by tecknit to JordanPeterson [link] [comments]

[Article] Debunking the theory that a "deflationary" currency cannot be the basis of a functioning economy

Many economists argue that a low level of inflation (approx 1-2%) is required in order to maintain a productive and functioning economy. This is evidenced in the fact that most central banks have low level inflation as a target of their monetary policy objectives: The European Central Bank, Bank of England, and the Federal Reserve to name a few [1].
As a result, detractors of bitcoin say that it can never become a currency as it is deflationary in nature [2]. That is, there will only ever be 21 million bitcoin in existence. This means that over time once all of these coins are in circulation, there will be no new supply of bitcoin, and so any demand increase will result in a price increase. Currently there is around 4.3% annual inflation of Bitcoin's supply [3], and by 2028 that is projected to fall to below 1% [4]. Furthermore, if the anonymous 'Satoshi' has truly vanished then there are another 1M coins out of circulation [5]; and some studies suggest the total number of lost bitcoin is nearing 3M coins [6], a number that can only increase over time.
Due to these 'missing' bitcoins, the supply of Bitcoin will become increasingly scarce, and so their value is expected to rise given a constant or increasing level of demand. This means that goods and services will fall relative to their bitcoin valuation, resulting in deflation (deflation = the price level of goods & services in an economy decreasing). The traditional argument then goes as follows: due to goods & services becoming cheaper over time, saving is incentivized. After all, why would one buy a car for 1000 bits when it can be purchased for 998 bits tomorrow? A common example people point to as evidence for this is the infamous 10,000 BTC pizza purchase in 2010 which at today's valuation costs 100M USD [7].
However, this argument against bitcoin as a currency is flawed on two levels.
(1) When pointing to examples such as the pizza purchase, or the rapid increase in bitcoin's value, people are misattributing the cause of the deflation by assuming it is to do with bitcoins supply. In fact, in the years since the pizza purchase, the total supply of bitcoin has increased from 3 million BTC to 16 million BTC. This is a more inflationary supply increase than even the USD over the same period of time [8]. The real causes of bitcoin's price increase (and thus deflationary properties) in this period can be attributed to the parabolic nature of adoption that bitcoin has seen since its creation [9]. When looking at the practical nature of bitcoin as a world currency, and then drawing stats from the coin in its infancy, you are committing the fallacy of false equivalency [10] as the evidence presented is from a period of increasing adoption while a global currency would imply full or near full adoption. At the 'early adopters' stage we will see major +/- % fluctuations regularly, however if worldwide adoption was to be achieved then these value changes would be far smaller and much less significant. For example, the dollar, the world reserve currency, fluctuates on average by 92 pips in a day (1 pip = 0.0001 USD). Applying this same level of stability to a mass adopted bitcoin, and we see that the price fluctuations would become far smaller and less significant the greater the capitalization of the currency. Thus, in order to assess the viability of bitcoin as a world currency, one must start with a situation where bitcoin is a world currency in the first place.
(2) The second flaw of this argument is to assume that deflation will always lead to a deflationary spiral and thus collapse of the economy. With this same logic, one could argue that inflation will always lead to an inflationary spiral and thus an economy collapse as people see price levels rising, and thus are incentivized to spend their money NOW before they increase any further. This then leads prices to rise further and the effect to spiral out of control. CLEARLY though we can see that inflation does not always lead to an inflationary spiral as all western economies operate on an inflationary model. And thus to try use this logic that is empirically flawed as an argument of deflation is self defeating: Levels of inflation will not always lead to inflationary spirals, and levels of deflation will not always lead to deflationary spirals. It is this excessive quantity of inflation or deflation that will result in a spiral, not the attributes of inflation or deflation in isolation.
In the same way that 1-2% inflation per year is small enough to not trigger an inflationary spiral of panic, a small amount of deflation on a yearly basis would not trigger this deflationary spiral. In fact, we have evidence to support this claim. In the UK over the period of 1983-2006 we had interests rates that were higher than the rate of inflation [11], this would mean that consumers are incentivized to save instead of spend as they would have greater purchasing power in the future(i.e. there is deflationary pressure), yet we did not see an economic meltdown during these times. What we actually saw over this time period was a DECREASE in the savings ratio of the average UK household [12], from around 15% of income to just under 10% despite the fact that any money saved would have compounded 5% more inflation adjusted purchasing power per annum. At first this might seem to be irrational behavior but there are some speculative reasons as to why this was the case. One theory suggests that consumers do not notice inflationary or deflationary pressures in small quantities and thus do not make economic decisions based on them. Another one would say that despite the deflationary pressures, there are some purchases that are necessary and therefore cannot be delayed. i.e. the supermarket shop might be a small % cheaper in 1 years time, but it is necessary to do it now in order to survive. Finally, it can also be argued that as deflationary pressures make consumers feel wealthier, they are more inclined to go out and spend this wealth, thus decreasing their savings rate.
The arguments presented above show that perhaps Keynesian economic thinking is too narrow, and that an economy can be run on the back of a currency with deflationary pressures as these pressures in the right quantity will not result in a deflationary spiral, and have the advantage of not eroding the wealth of the population in a way that benefits the wealthy and hinders the poor (see: threshold effects of inflation for more information on this matter). While this article has argued that a deflationary currency can run an economy, it is a topic of future article to discuss which model of the economy is preferable.
Till next time,
Logical Crypto
Sources:
[1] https://en.wikipedia.org/wiki/Inflation_targeting#Summary
[2] https://www.theatlantic.com/business/archive/2013/12/why-bitcoin-will-never-be-a-currency-in-2-charts/282364/
[3] https://charts.bitcoin.com/chart/inflation#lf
[4] https://cointelegraph.com/storage/uploads/view/1d067f3721f10f0a76439de9860a4e54.png
[5] https://qz.com/1107843/bitcoins-btc-new-record-price-of-6000-means-satoshi-nakamoto-is-worth-5-9-billion/
[6] http://uk.businessinsider.com/nearly-4-million-bitcoins-have-been-lost-forever-study-says-2017-11
[7] https://en.bitcoin.it/wiki/Laszlo_Hanyecz
[8] https://upload.wikimedia.org/wikipedia/en/5/58/MB%2C_M1_and_M2_aggregates_from_1981_to_2012.png
[9] https://blockchain.info/charts/n-transactions-total?timespan=all
[10] https://en.wikipedia.org/wiki/False_equivalence
[11] https://www.economicshelp.org/wp-content/uploads/2012/01/inflation-interest-rates-1945-2011.png
[12] https://tradingeconomics.com/united-kingdom/personal-savings
submitted by LogicalCrypto to btc [link] [comments]

10 reasons why these 10 years of Bitcoin were a major fail!

10 reasons why these 10 years of Bitcoin were a major fail!
Happy 10 years ‘Bitcoiners’ - ten years since the release of the Bitcoin white paper by Satoshi Nakamoto and here are all the reasons why these 10 years were a flop:
1. It still has no use cases. RIGHT? NO?
Bitcoin has been called a scam or a pump and dump scheme because it can not be used as a means of payment. That is just coming from the deniers because there are thousands of people that just live on bitcoin to make their everyday payments. Especially when you can use platforms like GoodX to make everyday transactions in crypto using a credit card like any bank - or better, because their’s cash-backs and rewards for that that are better than any other!
2. It is a bad store for value
Bitcoin is so volatile, why should it be a good store for value, right? WRONG. It had its days of volatility and instability in the past being associated with a new disrupting technology, but those days are long gone. Bitcoin has been extremely stable at around 6500 USD since the last 5 months! This makes it a great store for value​ .
3. The whole fiasco was just a coincidence
Of course, it was just a coincidence that a whole new technology called blockchain was invented, that is called the most ground-breaking discovery of the 21st century so far, and the first cryptocurrency on this technology became popular by a mere coincidence. The truth is that Bitcoin is a trailblazer and anything but a coincident success.

https://preview.redd.it/q0h45m6t3cv11.jpg?width=500&format=pjpg&auto=webp&s=fbcedff0074f9388573c25e1cb73ca719a052641
4. We still don’t know who ‘runs’ bitcoin
Exactly! That’s the whole point. Its your money, so you run it. It is decentralised and anonymous because you deserve the autonomy over your money.
5. We still don’t know who creates bitcoin
Again, you do. You mine it, you create it, and no one jails you for it like they would have if you were creating fiat currencies. It's like gold, if you dig it up, it's yours - and not everyone ends up digging gold.
6. Bitcoin is dead
Sure, something that costs over 6,400 dollars must be dead. It has been declared dead so many times in the last decade, yet it lives, and it will.
7. Why bitcoin? Why not some other cryptocurrency?
Cryptocurrencies are definitely becoming a mainstream, but bitcoin is at the forefront at the moment. Exactly like there are a lot of precious stones and metals in the world, but gold is the most recognisable and a popular choice of investment.
8. It was created for money laundering, tax evasion and criminal activities
A fellow Redditor recently posted ‘Why do all anti-crypto financial institutions usually get caught up in money laundering cases?’, and clearly if you’ve been following the news lately, you know how much crime have banks been caught up in recently besides their other downsides . So don’t blame bitcoin, blame the criminal. Instead if anything, Bitcoin and crypto has actually contributed to making world a better place as is mentioned ahead.
9. Bitcoin is changing the global economy
It truly is. The global economy was melting down way before the boom of bitcoin, the world suffered through the economic crisis of 2008 and that global economy is still barely trying to stand on its own feet without sucking the blood out of millennials. Bitcoin is changing the global economy by empowering the people.
10. No good came out of Bitcoin
Except that multiple charities including RedCross, Save the children, United Way and the Wikimedia foundation accept bitcoin, because it is fast, easy, and a cheap way of transferring money, specially to places where it would not be possible otherwise. The crypto-philanthropy space is booming, with innovative ways of giving like crypto-foundations, charity coins and distributed autonomous foundations!
  • Fidelity Charitable, which houses the nation’s largest donor advised fund, reportedly received $69 million in cryptocurrency donations in 2017 majorly bitcoin, up from $7 million received in 2015 and 2016 combined.
  • The RootProject’s pre-sale of Root coins generated 400% of their goal, or more than $400,000, while aiming for just $100,000.
  • The pineapple fund created by someone who invested in bitcoin earlier donated $55 million of bitcoin to charities!
  • And the list goes on.
It's already a good ten years late, so get in on bitcoin before you're like:
https://preview.redd.it/8keai7qp3cv11.jpg?width=337&format=pjpg&auto=webp&s=ba25d6b59c2e7954412119d7f2932c8eb36c5913
submitted by GoodX_Network to Bitcoin [link] [comments]

Don't you feel like a guinea pig sometimes? My hate and love relationship with mining

When I heard about bitcoin, I fell in love with the idea of mining more than with the idea of bitcoin itself.
Having been a passionate contributor of crowd sourcing efforts such as [email protected] in the past, I felt that mining could have been the new way for everyone to get some money just by giving away computing power and it could have been a way to have a real decentralized cryptocurrency.
I soon realized that the good time was already gone and that you had to invest important amount of money to mine.
I looked around and found many companies selling mining hardware and I considered buying some of this hardware. I understood that these companies were working on cutting edge technology and that people had to preorder and wait to get this new technology. I was willing to accept that and I considered this as a kickstarter campaign.
In the meantime I looked at cloud mining as an alternative solution. Some companies, like PBMining and Cex, seemed to offer interesting services. Profitability was still an issue but the services themselves seemed to work well.
Today I have to confess that I am pretty saddened by the reality of the mining world, in view of the recent allegations from the class action against Butterfly Labs, the recent news update by KNCMiner about the Titan, the claim against HashFast, etc.
It really seems like we are the cash cows and that we are surrounded by companies trying to take advantage of us. I doubt everything now. My feeling is that ASIC companies are already mining with hardware ordered by clients and they will ship this hardware only when it will become less profitable. Cloud mining companies may not even own hardware and maybe they are taking advantage of low profitability of mining, etc.
In addition to this, exchange platforms have continuous issues and I have started distrusting them as well. Is $450 the real value of BTC? Is this value induced or played by these exchanges? How can an exchange big like Mt.Gox just loose so many BTC?
Also, what about all these scams around us, so many companies popping out from nowhere, promising great services (like online wallets, new exchange platforms) and then disappearing with users' BTC with the excuse of "we have been hacked".
And what about the development of the bitcoin core? It is managed by developers paid by an autoelected and autocreated foundation which is being called by governments and authorities as the only representative of the BTC protocol, a foundation which had two board members that are having huge problems with the justice system.
I am sure this is the opposite to what Satoshi Nakamoto wanted to achieve with this project. Decentralized cryptocurrency my ass (cit. Phil Schiller)...this is becoming a very centralized system where mining hardware companies control profitability of mining, exchange platform control exchange rate and the poor users are given some toys to play with, while their money, time and resources are being used by someone else.
I think it's time for brave and strong decisions.
The BTC protocol should adopt a proof of work system which kills ASICS and pools. Mining should be done by single individuals with no way to put together massive amount of hardware. It should be "few coins for many people", not "a lot of coins for few people".
A real non profit foundation should be created, a la Wikimedia Foundation, with public, clear and open fund raising. The foundation should create a system to compensate any coder who contributed to the core.
I love bitcoin and I hope the future will be bright but the present is very dark.
submitted by botolo to BitcoinMining [link] [comments]

Decentralized cryptocurrency my ass...

When I heard about bitcoin, I fell in love with the idea of mining more than with the idea of bitcoin itself.
Having been a passionate contributor of crowd sourcing efforts such as [email protected] in the past, I felt that mining could have been the new way for everyone to get some money just by giving away computing power and it could have been a way to have a real decentralized cryptocurrency.
I soon realized that the good time was already gone and that you had to invest important amount of money to mine. I looked around and found many companies selling mining hardware and I considered buying some of this hardware. I understood that these companies were working on cutting edge technology and that people had to preorder and wait to get this new technology. I was willing to accept that and I considered this as a kickstarter campaign.
In the meantime I looked at cloud mining as an alternative solution. Some companies, like PBMining and Cex, seemed to offer interesting services. Profitability was still an issue but the services themselves seemed to work well.
Today I have to confess that I am pretty saddened by the reality of the mining world, in view of the recent allegations from the class action against Butterfly Labs, the recent news update by KNCMiner about the Titan, the claim against HashFast, etc.
It really seems like we are the cash cows and that we are surrounded by companies trying to take advantage of us. I doubt everything now. My feeling is that ASIC companies are already mining with hardware ordered by clients and they will ship this hardware only when it will become less profitable. Cloud mining companies may not even own hardware and maybe they are taking advantage of low profitability of mining, etc.
In addition to this, exchange platforms have continuous issues and I have started distrusting them as well. Is $450 the real value of BTC? Is this value induced or played by these exchanges? How can an exchange big like Mt.Gox just loose so many BTC?
Also, what about all these scams around us, so many companies popping out from nowhere, promising great services (like online wallets, new exchange platforms) and then disappearing with users' BTC with the excuse of "we have been hacked".
And what about the development of the bitcoin core? It is managed by developers paid by an autoelected and autocreated foundation which is being called by governments and authorities as the only representative of the BTC protocol, a foundation which had two board members that are having huge problems with the justice system.
I am sure this is the opposite to what Satoshi Nakamoto wanted to achieve with this project. Decentralized cryptocurrency my ass (cit. Phil Schiller)...this is becoming a very centralized system where mining hardware companies control profitability of mining, exchange platform control exchange rate and the poor users are given some toys to play with, while their money, time and resources are being used by someone else.
I think it's time for brave and strong decisions.
The BTC protocol should adopt a proof of work system which kills ASICS and pools. Mining should be done by single individuals with no way to put together massive amount of hardware. It should be "few coins for many people", not "a lot of coins for few people".
A real non profit foundation should be created, a la Wikimedia Foundation, with public, clear and open fund raising. The foundation should create a system to compensate any coder who contributed to the core.
I love bitcoin and I hope the future will be bright but the present is very dark.
submitted by botolo to Bitcoin [link] [comments]

Šta su to kripto-valute? Bitcoin kao pionir i nosioc svetske finansijsko-monetarne revolucije.

Bitcoin je prva široko prihvaćena Internet kripto-valuta. Identitet izumitelja je i dalje nepoznat, a isti se pojavio pod verovatno lažnim imenom Satoshi Nakamoto kada je 2009 godine objavio PDF dokument u kome je opisan sistem na čijoj je implementaciji i sam radio, a moguće je da radi još uvek, ali pod drugim pseudonimom. Bitcoin originalni klijent je opensource i svako je u mogućnosti da pregleda kod, a eventualno ga i poboljša. Međutim, pored originalnog klijenta pojavljuje se sve više novih sa raznim dodatnim mogućnostima kao što su walleti za više različitih kripto-valuta koji su i dalje opensource, a preporučljivo je samo takve i instalirati, jer program zatvorenog koda može vrlo lako biti maliciozan i vaše koine može poslati negde, bez načina da iste povratite.
Najveća prednost Bitcoina u odnosu na klasične fiat valute je to što ne postoji centralno emisiono telo - centralna banka, već je tempo emisije novih Bitcoina poznat unapred i postoji maksimalna količina Bitcoina koja će ikada biti generisana, a iznosi oko 21 milion. Očekuje se da će se do te cifre stići oko 2033 godine. To znači da Bitcoin valuta, kako potražnja raste, a količina novih je sve manja u vremenu, ima u sebi ugrađenu deflaciju, što je poželjna osobina i potpuno obrnuta od većine običnih valuta koje su u najvećem broju slučajeva inflatorne. Posledica svega toga je pozitivan uticaj na ekonomiju - priča potpuno različita od trenutne globalne finansijske šarene laže u kojoj elita štampa praktično onoliko koliko joj je potrebno i na taj način obezvređuje novac i u sve veće siromaštvo tera široke narodne mase.
Druge prednosti Bitcoina uključuju: * besplatne i direktne transakcije * decentralizacija sistema (sve se odvija u mreži peer-2-peer klijenata/programa) * transparentnost sistema (svako može da ima istoriju svih transakcija u Bitcoinu) * moguće ostvarivanje potpune anonimnosti pri transakcijama korišćenjem Tor mreže za pristup Bitcoin P2P mreži. * nemogućnost dvostrukog trošenja istih para
submitted by trancephorm to BitcoinSrbija [link] [comments]

Earn Free Bitcoin in Satoshi War Mineraria Bitcoin mineraria Satoshi - YouTube What is Bitcoin ? Bitcoin satoshi TeknoAC TeknoAC La Pizarra de Bitcoin #0000 - Unidades Monetarias del Protocolo Bitcoin Q&A: Is Bitcoin development centralised?

Wer sich bis dato noch nie mit Bitcoin befasst hat, der wird über die vorhandenen Informationen dankbar sein. So erfährt man so einiges zur Entwicklung der Krypto Währung, welche 2008 zum ersten mal von Satoshi Nakamoto auf einem White Paper vorgestellt wurde. Die Idee von kryptischen Währungen reicht jedoch zurück bis in die 90er Jahre. Im Jahr 2009 entstanden dann die ersten 50 Bitcoins ... Creation. The domain name "bitcoin.org" was registered on 18 August 2008. [21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System [3] was posted to a cryptography mailing list. [22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009. [23] [24] [16] Nakamoto's identity remains unknown. This morning, a 50 BTC transaction with a UTXO from February 2009 was made, sending the Bitcoin community into a storm of speculation. Was it Satoshi who was moving the coins, or someone close to the original, mysterious creator of the first-ever cryptocurrency?. The discussion has brought back discussion as to who Satoshi actually could be. With who the cryptocurrency’s creator is once ... From Wikimedia Commons, the free media repository Jump to navigation Jump to search English: Bitcoin ( sign : ; code: BTC ) is a cryptocurrency based on the software protocol created by the pseudonymous developer(s) Satoshi Nakamoto. Bitcoin-Investoren teilen alle mindestens eine Gemeinsamkeit: Schon oft haben sie sich gefragt, wer wohl der Erfinder von Bitcoin ist.Verbergen tut er sich hinter dem Pseudonym Satoshi Nakamoto und konnte seine wahre Identität bis heute wahren. Im Laufe der Zeit gab es die verschiedensten Theorien, wer Satoshi Nakamoto sein könnte.

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Earn Free Bitcoin in Satoshi War

Bitcoin development is becoming more decentralised. It began with Satoshi as the sole developer and miner; now there are hundreds of Bitcoin developers and thousands of miners across the world. Link to SatoshiWar : http://destyy.com/q1XRXg Link to Free BTC Mine :http://viid.me/qeQdUT wikipedia What is Cryptocurrency? link : http://sh.st/Seeaw Bitcoi... Satoshi y bitcoin , unidades de moneda del protocolo. Material de apoyo: Satoshi: https://en.bitcoin.it/wiki/Satoshi_(unit) Bitcoin, Satoshi,USD: https://www... bitcoin satoshi Bitcoin Satoshi USD Satoshi Bitcoin Wiki SatoshiCity - Free Bitcoins terminology - What is a `Satoshi`? - Bitcoin Stack Exchange Wat is een S... -Satoshi Nakamoto "Forgot to add the good part about micropayments. While I don't think Bitcoin is practical for smaller micropayments right now, it will eventually be as storage and bandwidth ...

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