FSF Receives One Million Dollars Worth Of Bitcoin

[Michael_S]

I think cryptocurrencies will eventually power big chunks of the world economy, if not all of it. But not today and not ten years from now either. Bitcoin itself is, I think, going to crash eventually. Transactions now take more than ten minutes to finish and some take days to finish, and transaction fees to convert Bitcoins to other currencies are too high. Maybe the Bitcoin Cash fork with its much faster transaction rate will catch on, maybe something else. I think it's inevitable.

And yes for now, people get cryptocurrency and then trade it for traditional government-backed currency to do transactions. That's going to be the standard for a long time, but if Bitcoin Cash or Ethereum or whatever stabilizes in price and grows in popularity and has consistent ultra-fast transaction confirmation times then people and businesses will conduct business entirely in that currency.

But I'm just some idiot making guesses, don't read too much into it.

They wont accept it since they cant see the source code of the bitcoins

?? I hope that was a joke, the code that mines and manages transactions with Bitcoin is open source / free software.

[cj.wijtmans]

I think cryptocurrencies will eventually power big chunks of the world economy, if not all of it. But not today and not ten years from now either. Bitcoin itself is, I think, going to crash eventually. Transactions now take more than ten minutes to finish and some take days to finish, and transaction fees to convert Bitcoins to other currencies are too high. Maybe the Bitcoin Cash fork with its much faster transaction rate will catch on, maybe something else. I think it's inevitable.

And yes for now, people get cryptocurrency and then trade it for traditional government-backed currency to do transactions. That's going to be the standard for a long time, but if Bitcoin Cash or Ethereum or whatever stabilizes in price and grows in popularity and has consistent ultra-fast transaction confirmation times then people and businesses will conduct business entirely in that currency.

But I'm just some idiot making guesses, don't read too much into it.



?? I hope that was a joke, the code that mines and manages transactions with Bitcoin is open source / free software.

XRP..

[Fernando Negro]

"PSYOP" from the people who created Bitcoin (and were the first to mine it, at a very cheap price) to promote this so-called cryptocurrency.

And, a way also to make people think that, if this Bitcoin phenomenon is Free Software, then it must be safe, right?

WRONG: http://forums.debian.net/viewtopic.p...131191#p637738 + https://twitter.com/BlackFerdyPT/sta...04533272879104

[Fernando Negro]

(To all those who are still naive about this phenomenon...)

From a very well-known Russian military counterintelligence officer:

https://twitter.com/EstulinDaniel/st...89661748432897

[duby229]

Whether or not the CIA was involved with bitcoin I don't know. But I can imagine a US Administration investing in cryptocurrency research a long time ago. And I can certainly imagine a lot of further development. being derived from it in some forms. It has it's appeals, if truly clean energy could be made then a lot of wealth could be generated.

EDIT: Look at bitcoin for example, it costs so much hardware to generate one bitcoin that there just aren't enough of them. It's because of that the value of the exchange rates are so extreme. I can certainly imagine it was manipulated somehow to be that way.

[Fernando Negro]

Yes, Bitcoin really does have its appeals. But, the insecurity of using it is far bigger than any of the positive aspects.

Concerning the manipulation of its price (and following the hypotheses that you mention, of some people belonging to the "powers-that-be" jumping on the wagon early on, to invest in it),

The intelligence officer that I mentioned said some more things about this (it's hard to find previous information on Twitter). And, this is one piece of news that I remember him calling people's attention to: https://www.zerohedge.com/news/2017-...-bitcoin-price

One of the things I remember him saying, was (paraphrasing) that the establishment (i.e. the big corporations and their puppet governments) would never adopt this if it couldn't control it.

(More about its most probable origins: https://www.zerohedge.com/news/2017-...world-currency)

[EDITED, to add the following few things.]

Expanding on this,

This intelligence officer will soon (within very few months) launch the English version of his book about the Trump Presidency. But, to make a long story short (from what I know, already - since, I'm waiting for the Portuguese translation)... The whole World Economy is about to Collapse (following the postponement of what should have happened in 2008). And, due to this inevitable Collapse, there's a faction of the "powers-that-be" that is desperately trying to come up with a new economic model - including a new monetary system. And, if the people behind Trump manage to succeed, then we will see this so-called cryptocurrencies become the official ones. (One thing is for sure. The current economic model is unsustainable: https://twitter.com/i/web/status/930103167634653184)

P.S. - Good luck to every intelligent (I've been able to spot quite a few, in this particular forum) person of good character. You might want to take some computer-related precautions, because of this Collapse: https://www.phoronix.com/forums/foru...960#post997960

[cj.wijtmans]

Yes, Bitcoin really does have its appeals. But, the insecurity of using it is far bigger than any of the positive aspects.

Concerning the manipulation of its price (and following the hypotheses that you mention, of some people belonging to the "powers-that-be" jumping on the wagon early on, to invest in it),

The intelligence officer that I mentioned said some more things about this (it's hard to find previous information on Twitter). And, this is one piece of news that I remember him calling people's attention to: https://www.zerohedge.com/news/2017-...-bitcoin-price

One of the things I remember him saying, was (paraphrasing) that the establishment (i.e. the big corporations and their puppet governments) would never adopt this if it couldn't control it.

(More about its most probable origins: https://www.zerohedge.com/news/2017-...world-currency)

[EDITED, to add the following few things.]

Expanding on this,

This intelligence officer will soon (within very few months) launch the English version of his book about the Trump Presidency. But, to make a long story short (from what I know, already - since, I'm waiting for the Portuguese translation)... The whole World Economy is about to Collapse (following the postponement of what should have happened in 2008). And, due to this inevitable Collapse, there's a faction of the "powers-that-be" that is desperately trying to come up with a new economic model - including a new monetary system. And, if the people behind Trump manage to succeed, then we will see this so-called cryptocurrencies become the official ones. (One thing is for sure. The current economic model is unsustainable: https://twitter.com/i/web/status/930103167634653184)

P.S. - Good luck to every intelligent (I've been able to spot quite a few, in this particular forum) person of good character. You might want to take some computer-related precautions, because of this Collapse: https://www.phoronix.com/forums/foru...960#post997960

What a load of crook. The 2008 crisis was nothing more than George Soros fucking over the english(the pound). Goldman Sachs creating a housing crisis and profiting nearly 1 trillion from it while gaining financial power in the EU and even political power pumping money into the greek black hole and ESM. While the IMF pushed for bailouts. While troika pushed greek to buy artillary. There is 0 real economic crisis other than the fact the general public were drained from personal wealth. Secondly bitcoin inherently has more value than US an EU fiat currency because of its nature that at one point mining is simply not worth it and you have deflation(of the currency itself not its value related to USD).

[Fernando Negro]

For those of you who can understand Spanish,

The mentioned Russian intelligence officer on "Catalunya Ràdio" (owned by the Spanish State) briefly explaining that this cryptocurrencies are creations of the establishment: http://www.ccma.cat/catradio/alacart.../audio/988886/

[Fernando Negro]

The whole World Economy is about to Collapse (following the postponement of what should have happened in 2008). And, due to this inevitable Collapse, there's a faction of the "powers-that-be" that is desperately trying to come up with a new economic model - including a new monetary system.

For those of you who have any doubts that the whole World Economy is about to Collapse (https://www.youtube.com/watch?v=ZjVT26Sm-EY#t=17m50s) you need to go no further than here:

http://forum.prisonplanet.com/index....9883#msg899883

(Nobody can tell exactly when will this happen. But, it's an inevitability.)