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» WrestlingClassics.com Message Board » Professional Wrestling & General Discussion 2010 - Current » Ok I seeing this everywhere - who can tell me about Bitcoin?

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Author Topic: Ok I seeing this everywhere - who can tell me about Bitcoin?
midsouthfan from N.O.
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I've actually seen where Subway accepts it. WTF is this?
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Grobbit
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It's a new form of currency based on what is called a blockchain rather than being indexed to precious metals like most traditional currencies.

Therefore the value of bitcoin can go up and down and the driving factors are very different to those that drive the value of traditional currencies. Also, like anything electronic, it can be hacked.

I would be very wary of bitcoin and other similar systems such as Z-cash, I say this because they are being promoted hard by shady characters like Max Keyser, who broadcasts on Russia Today and is an Israeli asset.

Z-cash should be avoided by the plague as it was developed by an Israeli company that is known to be a front for Israeli intelligence services, which means that it has, from it's inception been insecure - Israeli intel could hack the blockchain and manipulate it any time they wished.

Systems like Bitcoin are being championed as a way to usurp the current usurious financial system, and this is very much something they are capable of doing. However, those that run the current financial system realised this right at the start of bitcoin and therefore decided, to follow Lenin's advice:

"the best way to control the opposition is to lead it ourselves"

So if bitcoin and other blockchain systems do eventually usurp the old financial system, the fat cats will remain in control, as rich and ruthless as ever, indifferent to the plight of the other 99.9% of humanity.

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"If I hit him with the left hand and he's still standing, I will walk around him to see whats holding him up." - Harley Race

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midsouthfan from N.O.
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quote:
Originally posted by Grobbit:
It's a new form of currency based on what is called a blockchain rather than being indexed to precious metals like most traditional currencies.

Therefore the value of bitcoin can go up and down and the driving factors are very different to those that drive the value of traditional currencies. Also, like anything electronic, it can be hacked.

I would be very wary of bitcoin and other similar systems such as Z-cash, I say this because they are being promoted hard by shady characters like Max Keyser, who broadcasts on Russia Today and is an Israeli asset.

Z-cash should be avoided by the plague as it was developed by an Israeli company that is known to be a front for Israeli intelligence services, which means that it has, from it's inception been insecure - Israeli intel could hack the blockchain and manipulate it any time they wished.

Systems like Bitcoin are being championed as a way to usurp the current usurious financial system, and this is very much something they are capable of doing. However, those that run the current financial system realised this right at the start of bitcoin and therefore decided, to follow Lenin's advice:

"the best way to control the opposition is to lead it ourselves"

So if bitcoin and other blockchain systems do eventually usurp the old financial system, the fat cats will remain in control, as rich and ruthless as ever, indifferent to the plight of the other 99.9% of humanity.

thx boss
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Frogs
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@Grobbit - excellent write up.

My only 2 bits to add are a little more from a tech side.

At the end of the day, bitcoin and the others are basically internet based. You won't get anything you can hold in your hand like say a coin, a dollar, a rubble, a euro, etc.. You'll see your account on the screen go up and down as you get or spend bitcoin. You can also see your actual bank account go up or down as you spend $ to get bitcoin etc. But that is a bit of a sidebar...


Why the bit about the internet is important. In my job I work with people all over the world. In any major conflict or any major catastrophic what is one of the first things to go down? Internet access usually followed by cell access being all tied up or down.

From China, Egypt, etc we know that countries can either vastly restrict the internet or shut down totally.

Whatcha gonna do brother if the stuff hits the fan and the net is down and you can't get to your bitcoin?

To me, that is the biggest flaw in it. These days most any country worth its salt can turn the internet off to vast majority of its population like turning off a light.

What's to keep them from saying, "Oooohh, bitcoin is a threat our currency system!! *click* Problem solved!" :-)

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Shropshire Slasher
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It's essentially digital currency and like data on your computer it can easily be lost or erased. It comes across as connected to a lot of seedy activity so it's not something I would get involved in.
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FuzzFace
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Holy **** it's been around like forever.

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FREE BEER PARTY 7-8 PM FOR ALL FANS

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bAzTNM
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Mostly used for drugs really.

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From Scotland!

My website with random stuff

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King Francis
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drugs would be the best use it... I myself would never use them, way to easy to be scammed

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When I said that was the most ignorant thing I ever heard, I didn't realize you were still talking.

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midsouthfan from N.O.
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Great points guys. Interesting stuff
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