Bitcoins/Litecoins/Virtual Currencies

Abigailicious said:

I don't know all these terms, but realism is not "Doomerism"

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I'm simply referring to the concept that we're all screwed, digital panopticon is inevitable, we'll eat bugs own nothing and be happy is inevitable. It isn't. Centralized ownership of the financial system and a group of people being able to print from thin air the currency that you spend your lifeforce to accumulate is not going to last forever. There is a future possibility where a certain level of fairness is reasserted at the base layer of communal reality, the monetary system. Bitcoin is key to that future.

If you don't understand the terms I am using and don't understand why I am optimistic about our future rather than "realistic" about it, I think it would be worth your time to learn more about what Bitcoin is, the problems it solves, how it solves those problems, and what kind of world it can create. I would venture to say ~50% of our cultures issues can be traced back to our broken monetary system. If you don't believe that or understand why I say it, start there.

The best part of the Bitcoin debates helping society is realizing how it literally does nothing for society but continues to take up increasingly rare real resources (energy). How the community is so convinced about the awesome benefits of an always trackable / traceable medium of financial exchange with real world costs is quite amazing.

blockchain has utility, Bitcoin has ideals without helping society.

MrSpitz said:

The best part of the Bitcoin debates helping society is realizing how it literally does nothing for society but continues to take up increasingly rare real resources (energy). How the community is so convinced about the awesome benefits of an always trackable / traceable medium of financial exchange with real world costs is quite amazing.

blockchain has utility, Bitcoin has ideals without helping society.

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You should consider international trade, sanctions, SWIFT, and how that effect world conflict. Bitcoin represents a trustless system for trade that cannot be censored. That is not even considering the effects that money printing and the cantillion effect have on trust in society and the creation in inequality.

This is an 80 IQ take. You haven't thought about this enough.

Big Phoenix said:

What % of bitcoin is held by exchanges?

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Well, I don't know if this is 100% accurate but on-chain analysis sites will have statistics on this. According to the below is around 2million BTC right now. Its hard to get an exact amount because not all exchange addresses are publicly known.




Given that number and approximately 19million coins released via mining thus far, about 11% is held by exchanges. Probably a bit higher if you assume not all wallet addresses are known, and more than 214BTC is permentantly gone from lost wallets etc.

Mist said:

View attachment 442742

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Mist we need you to save the world. WWMD?

Mist said:

So you just don't want to know what's going on?

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Ignorance is bliss, and all that.

Independent journalists are still doing solid work (Glen Greenwald, for example), but, just like everything else, social media is distorting perceptions, because, for the most part, the worst people, with no integrity, get their their shitty thoughts passed around, by both people that strongly agree, and strongly disagree with them.