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  • #61
  • Dec 24, 2022 12:06am Dec 24, 2022 12:06am
Quoting PippityPips
{quote} I am not op, however, i want to respond here. The reason I like bitcoin is because it is TRUSTLESS. You don't have to trust anyone. not programmers, not marketers and most importantly not a government! The "government" are not there to help and protect you. So forget about trusting them. Another example - do you know how difficult it is to get fiat money from a bank to an exchange? It can be very difficult, they made me jump through lots of hoops, my bank put lots of barriers in the way. there is no one that has to approve my btc transaction....
Hello PippityPips;

I trust this message finds you well. I will respond to Alex in relation to his further feedback during the course of the morning however I sought to send you this response prior to that.

After all, from what I deduced from your correspondence, you had the misfortune of having to acquire your crypto through a central exchange. After all, they are the ones who demand KYC & AML protocols which in effect detracts from the core premise upon which Bitcoin & the Defi ecosystem at large are founded & underpinned upon.

if that was not bad enough, I suggest you take a (very, very) close look to the small print in the terms & conditions of your contractual agreement since there is a high chance that you could have entered into a custodial environment. Easiest way for you to know, even prior to looking at the (very) small fine print is a clear indicator.

Do you know your, and more importantly, in possession of, 1. Your pneumonic seed phrase 2. your encryption keys & 3. your private keys?

If you answered No to these, you have most likely entered into the custodial method of transacting crypto. There is a quip circulated around by those who acquired & transact their crypto outside of the CEX (central exchange) /custodial system which you may have heard in passing & this discussion highlights further. "Nacha Keys, Nacha Coin"

I had a glance at your thread as well & considered commenting but stopped short of it since I "owe" Alex his reply, as primary order of business however I commend you for pushing the boundaries & attempting to break the glass ceiling of ring-fenced/striated thought processes. After all, it really doesn't have to be one or the other where one thrives & the other suffers.

The variables you referenced can & does co-exist in perfect harmony with one another as & once there is inclusive & cohesive adaptation underscored by agility, purpose driven goal setting & an unparalleled desire to achieve that which limited thinking individuals wouldn't even bother to aspire to.

I wish you & all on the thread a fantastic morning (well that's what it is in my part of the world at present) and...

May the Markets go with You...
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #62
  • Dec 24, 2022 2:08am Dec 24, 2022 2:08am
Quoting RCtrader
{quote} And yet, you haven't answered all my questions. Would you trust a community of programmers more than the US government? The logic of 9k is indeed to increase my capital by 10 times, and that is because I don't really think it will go higher than $100k in value. However, the trading opportunity I see in the crypto market is trading against those few new crypto-coins listed on exchanges like Binance. I noticed that the coins get a temporary hype around them and a temporary increase in value until the hype is over and they are forgotten,...
Top of the morning to you Alex!!!

I trust you’re having a great start to the day so far & I sought to reply to you before you get around to re-reading my previous post such that you could incorporate information from this response into those in order to join the dots, so to speak where possible.

I have copied your previous post included it hereunder such that I include replies specific to the points to you raised next to it. I hope you don’t mind my methodology with it since I think it could help us to minimize (eradicate I gather is an overly lofty aspiration for written correspondence) confusion & talking past one another.

So, without further ado; my take on your comments for your consideration…

And yet, you haven't answered all my questions. – Sure thing, allow me the grace to try again & I apologise in advance if I fail to answer to the depth which enables a better middle ground.
Would you trust a community of programmers more than the US government? [IMG]file:///C:/Users/USD_B/AppData/Local/Temp/msohtmlclip1/01/clip_image002.png[/IMG] - PippityPips beat me to the draw with answering this one but just to err on the side of caution & reaffirm. There really is no need to trust the Bitcoin ecosystem since it is a self-sustaining machine which operates at a level of transparency which would cause governments, central banks & any other generally covert operation to suffer sleepless nights over.

Just to underscore this point, you are likely familiar with news that many countries are currently considering digital versions of their fiat currency, but it remains ever allusive as to how said digital versions of the currency will operate. One may be inclined to think that this reactionary measure is to sort of play catch-up to the massive in-roads which Bitcoin & some others have made into the financial system & even e-commerce in broad strokes.

To conclude, for the interim at least the topic of the BTC ecosystem & trust, I urge you to reconsider your position that it is a group/community of programmers in their own little world. There are numerous facets & variables which have become part & parcel of the entire system coupled with the complexity of the mining & blockchain management.

The computing power alone of this ecosystem pours cold water on the theory that it is some sort of cloak & dagger operation. I mean, I am not a Bitcoin extremist/maximalist by any means & can’t speak for them but my dated information is jaw dropping to consider.
When mining began, someone with a moderate to decent PC or even home ‘supercomputer” could mine Bitcoin, then as the reverse hash difficulty increased, miners had to get high powered GPUs for the same purpose.

It wasn’t even a long time until GPUs become completely pointless & along came ASICs and mining pools mind you with what I can only describe as “daisy chained” ASIC farms. Perhaps someone who is more knowledgeable with Bitcoin technicalities can add in where I am being deficient in my explanation.
Think on this for a second or two. The last time I looked into this with concerted effort (the mining ecosystem & blockchain schematics) was around mid - late 2020 since I have been actively engaged thereafter with my own activates unrelated to the BTC network.

Back then the official (could be more unofficially) total processing power of the Bitcoin network, was about 126 million TH/s. That “TH/s” means terahashes per second!!!

A terahash is one million megahashes (i.e. 1 million single hashes). This implies a hash rate with enough processing power to compute 126 EXAhashes per second; 126 million, million, million hashes. Each second, just think of those numbers & whether a “small group of programmers” can put something like that together.

To put it in context further – that’s just around 1.6 million, million, Petaflops. I am unsure if you’re aware, just 3 years before that in 2017 the most powerful supercomputer on Earth, maxed out at 125 Petaflops. That is a behemoth number but here we have the Bitcoin ecosystem, almost two years ago now having usurped & eclipsed it completely.

I hope this helps you, me & anyone else to understand the gravity & scale of this operation since I also have to understand from time to time that the expansion of this ecosystem is rendering numerous aspects of how we understood things to be irrelevant as further technological advances progress.

The logic of 9k is indeed to increase my capital by 10 times, and that is because I don't really think it will go higher than $100k in value. – Oh, Alex, may I please caution you against pronouncing on BTC ceilings, so many have tried this before us & many of them had to look on in horror/confusion & whatever other emotion when the price of Bitcoin smashed through their “ceiling” & just went on & on & on.
To illustrate with just one example; JP Morgan, CEO, Jamie Dimon made some rather harsh comments through the rise & fall of Bitcoin, which you can look up when you’re free. The point to illustrate is, JP Morgan then, after some time, deployed their own rival crypto called JPM Coin to supposedly speed up larger transactions. – well, that’s the rationale the company provided & you may consider the merits thereof at your peril.

However, the trading opportunity I see in the crypto market is trading against those few new crypto-coins listed on exchanges like Binance. I noticed that the coins get a temporary hype around them and a temporary increase in value until the hype is over and they are forgotten, moving gradually down to a tenth or even a hundredth of their maximum historical value. – Here again Alex, I would respectfully suggest taking the time to become familiar with the ones which represent real world use cases as opposed to “meme” coins which enjoy a burst of excitement followed by a rapid decline into the abyss of oblivion/irrelevance.

Just to highlight, did you ask yourself why Facebook changed to Meta? Are you aware of the impending step changes about to sweep through the internet as we understood it since the deployment of our much-adored Chrome/Edge & other browsers?

We are at a point where the realization of Web 3.0 or The Metaverse will create (as the vision goes) a fully decentralized internet. There are crypto projects which tie in with this deployment & inseparable actually.

I touched on it with my earlier correspondence to you whereby I mentioned Solana, Manna & Sand.

I can tell you, you don’t want to be caught shorting these when the Metaverse hype picks up again & you can be sure that it will.

If you look at a video by the RNDR (pronounced Render) CEO, Jules Urbach from far back as the Breakpoint 2021, there was already committed to rendering the entire Metaverse on Solana. Consider the kick-off with this crypto & blow off tops we can expect from the previous ATH of around $260 per token from it takes off from where it is now, around $13-$14.

You’re looking at a minimum 20x gain, which is what I was telling you about having to be top heavy in BTC when you could generate greater cost to ratio gains with other “high-impact” cryptos.

That aspect ties in almost intrinsically with Manna & Sand, both of which are cryptos for the front runners in Decentraland & The Sandbox. Do you have some working knowledge of this? It will be well worth your while looking into it since you ignore it at your own peril.

After all, these two are the Microsoft & Apple of that world, if I could illustrate it like that.

Will their tokens go to zero & stay there? The chances of that is as close to impossible as we can get but I write off nothing since I believe in possibility after all.

Manna & SAND peaked at previous ATHs of around $5.50 & $7.50 and now languishing around 33c & 45c respectively, that’s not even a dollar per token. If & when they get back to their ATH, they would have more than 10x gains but when the wave of euphoria grips it’s not likely to stop at the previous ATH, especially as the Metaverse gains & accelerates traction.

Whilst reading this, take a look at your palm. A piece of “real estate” in either of these two within the VR/AR (virtual reality & augmented reality) environments will set you back just around $20k (yes, that’s 20 Thousand USD)

Is it a fad? I don’t know, but what I do know is all the most liquid companies on earth are racing there to ensure they are not rendered irrelevant by the technological advancements.

What will come of it as the end result is anyone’s guess but I would suggest do what we can to remain relevant & abreast of developments such that we may exploit opportunities which present themselves. After all, is that not our work, identifying supply/demand dislocations in equilibrium & profiting by it?

You are right to suspect me of having dated information but also not much understanding of the blockchain. – That makes two of us Alex, since I am far from an expert in the field, having only a basic working knowledge of it to generate profits as & when I can.

On the other hand, I always knew that there can't be more than let's say 26 million bitcoins out there, which means that scarcity will always generate value around the crypto-coin especially if there is constant or ever-greater demand. But somebody did say that that could change, after all, something that was programmed can also be reprogrammed. [IMG]file:///C:/Users/USD_B/AppData/Local/Temp/msohtmlclip1/01/clip_image004.png[/IMG] - you’re right here in theory, but refer above to the programming computing power someone/ or another group has to put together to topple this ecosystem. Is it possible; off course it is as is everything, it’s the probability is what we’re speculating upon, are we not which is highly remote.

Also, you said that the silver and gold coins concept is somewhat misplaced. But why? Can there not be a better crypto-coin to nullify the value of all the others? And what about those who bought the bitcoin when it was valued at $50k. How much did they lose in their investment already (if we are to have this narrow vision)? – it’s a false logic to suggest that everyone who bought at $50k has lost since we have no on-chain analytics of who the $50k buyers where & whether or not they sold or position type traders who have dug in having an understanding of capitulation cycles & biding their time for the next range expansion above the current ATH, whereupon they will revisit their crypto views.
It is fair to say that if someone had the depth of market to purchase at $50k, this individual/institution is not clutching at the purse strings & can afford to hold the position provided they have refined their threshold for pain/drawdown in capitulation/bear market cycles.

I sincerely hope that my reply helps a little & remain ever at your disposal should you find that my attempted explanations were deficient.

May I granted this opportunity to wish you & all on the thread a wonderful day ahead & goes without saying, especially if you're on screen trading since cryptos are still going over the weekend unlike our beloved FX instruments...

May the Markets go with You...
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #63
  • Dec 24, 2022 5:33am Dec 24, 2022 5:33am
Quoting LvMMT
{quote} Episode 4 Which is why so many cryptocurrencies have sprung up overnight that they essentially don't mean anything, they're just a database. To generate your own myFFCoins you need to mine them. You must become a myFFCoins miner. How does this work? The specific thing about blockchain is that it is a database to which new data can be added only at the end... There is no way to modify the already existing data... they are nailed down... Everything new is added... in order of arrival... at the end of the list.... Furthermore...each...
Episode 5

It theoretically guarantees the technological impossibility of someone hacking the database...and changing your number of myFFCoins there...saying you have 10 when you actually had 50,000....

Basically... it's not impossible to do this... but it takes enough effort to be improbable in a large enough blockchain...

That ... is the big innovation ... the big promise of system security
that no one can change the already existing data...

so you can rest assured that if it says there in a text that you have 50,000 myFFCoins...
well...for God's sake...that's right...

At the same time... this means that once a transaction is validated by the chain...and becomes a block...

nobody can change it...

If someone manages to steal your cryptocurrencies…

there is no way you can get them back...

The system guarantees this by its very nature:

you cannot change data already entered...


God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #64
  • Dec 24, 2022 6:58am Dec 24, 2022 6:58am
Quoting Desbinary
{quote} To illustrate with just one example; JP Morgan, CEO, Jamie Dimon made some rather harsh comments through the rise & fall of Bitcoin, which you can look up when you’re free. The point to illustrate is, JP Morgan then, after some time, deployed their own rival crypto called JPM Coin to supposedly speed up larger transactions. – well, that’s the rationale the company provided & you may consider the merits thereof at your peril.
That is quite frightening, these banks have the power to destroy economies as it is without them having their own currency. I recently watched a documentary about bankers and what they did to Iceland. Pre investment banking, the Icelandic economy was stable, low debt, no unemployment, and a generally well functioning goverment and economy, enter Investment Banker, in 2 years they decimated the economy, buggered off with a pile of money and left the economy in ruins, Crypto only bring more of this misery to our doors.
  • #65
  • Dec 24, 2022 7:36am Dec 24, 2022 7:36am
Quoting Desbinary
{quote} The logic of 9k is indeed to increase my capital by 10 times, and that is because I don't really think it will go higher than $100k in value. – Oh, Alex, may I please caution you against pronouncing on BTC ceilings, so many have tried this before us & many of them had to look on in horror/confusion & whatever other emotion when the price of Bitcoin smashed through their “ceiling” & just went on & on & on.
The point is that I do believe it could touch the 9k mark even if briefly. But I will convert it back to fiat money when it gets to 90k. Therefore, increasing my invested capital by ten times.

On another topic of our discussion, I could agree that among 5 'no future' crypto coins one could turn out to be a successful one, but I am not on the losing side, because 4 of those I bet against are losing in value. The only problem that I may have is the transaction costs. It could cost a lot of money to keep a position open for 10-12 months.

Thank you so much again for your extensive reply.
Risk Management is of utmost importance!
  • #66
  • Dec 24, 2022 7:48am Dec 24, 2022 7:48am
Quoting LvMMT
{quote} Episode 2 The technology behind crypto is called blockchain. To call it technology... sounds a bit grandiose... but all the terms surrounding this phenomenon give off a revolutionary thrill and self-importance... so that you get the feeling that crypto is the future. Saying blockchain technology is a bit like saying Microsoft Excel technology. Blockchain is software... a code by which a database is organized. It's an innovation in the way you can store a database... but that's about it.
I never saw anyone explain the blockchain the way you did.
Though they do mention on investopedia that "a blockchain is a distributed database or ledger that is shared among the nodes of a computer network".
But I never really imagined it as a database.
Risk Management is of utmost importance!
  • #67
  • Dec 24, 2022 8:26am Dec 24, 2022 8:26am
Quoting RCtrader
{quote} I never saw anyone explain the blockchain the way you did. Though they do mention on investopedia that "a blockchain is a distributed database or ledger that is shared among the nodes of a computer network". But I never really imagined it as a database.

i have more truths about this scam...
scam .. for some...the others... have no idea...
how are aware... even if they earned the last money from it... and they didn't know what they were facing... of course...

however, I profited enormously...and me and my family...

I will continue the series...
we...the Romanians...are celebrating Christmas tomorrow...

today I'm trying to get out of the house ....my wife and the other ladies in my house...they want to make me clean my trading station...to do general cleaning... as they do weekly...

at least once a year..or 2 times...they try....

so I will write later...or in 2-3 days...

I'm going to pretend I have work and run away from home...

don't forget...Jesus is your self...he is not someone who was born and had a history...

God...exists....Consciousness...Being...and science says now the same...but the mystics said this thousands of years before...just standing and analyzing...everything...


Einstein "I want to know the thoughts of God ... The rest are details."...

P.S.

some current researchers say that A. Einstein and N. Tesla only saw half the truth...

another P.S.
no investopedia


EDIT:
truths about our states of consciousness are hidden in the bible...they are told as well as certain characters...saints...holy Mary...resurrection and apocalypse stories...etc...
the apocalypse exists...but it will be fulfilled...when we all become conscious...when we stop producing chronological time...
and we will produce psychological time... not that the Earth will disintegrate...
Eckhart Tolle book => the power of the present...
search for the truth... the rest are details...

Thank you Alex and God bless you and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #68
  • Dec 24, 2022 8:52am Dec 24, 2022 8:52am
Quoting RCtrader
{quote} I never saw anyone explain the blockchain the way you did. Though they do mention on investopedia that "a blockchain is a distributed database or ledger that is shared among the nodes of a computer network". But I never really imagined it as a database.

" the nodes of a computer network"


I will explain to you what this means...another lie...

Now that I know...it makes me laugh enormously
...before...a few years ago...I had eyes as big as onions...like many here now...

God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #69
  • Dec 24, 2022 8:56am Dec 24, 2022 8:56am
Quoting LvMMT
{quote} " the nodes of a computer network" I will explain to you what this means...another lie... Now that I know...it makes me laugh enormously ...before...a few years ago...I had eyes as big as onions...like many here now... God bless everyone!

everything I write is with Google transate...if you don't understand something...or something seems to be written strangely...

I will turn to my son who speaks English very well...and my wife...also ...


God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #70
  • Dec 24, 2022 12:02pm Dec 24, 2022 12:02pm
Quoting LvMMT
{quote} everything I write is with Google transate...if you don't understand something...or something seems to be written strangely... I will turn to my son who speaks English very well...and my wife...also ... God bless everyone!
Your last two posts are hilarious!
Risk Management is of utmost importance!
  • #71
  • Dec 24, 2022 1:20pm Dec 24, 2022 1:20pm
Quoting Desbinary
{quote} Hello PippityPips; I trust this message finds you well. I will respond to Alex in relation to his further feedback during the course of the morning however I sought to send you this response prior to that. After all, from what I deduced from your correspondence, you had the misfortune of having to acquire your crypto through a central exchange. After all, they are the ones who demand KYC & AML protocols which in effect detracts from the core premise upon which Bitcoin & the Defi ecosystem at large are founded & underpinned upon. if that...

oh yeah i know about the seed etc.

very fortunately i sold my btc near the top. i then started trading fx.
  • #72
  • Dec 24, 2022 1:22pm Dec 24, 2022 1:22pm
Quoting LvMMT
{quote} i have more truths about this scam... scam .. for some...the others... have no idea... how are aware... even if they earned the last money from it... and they didn't know what they were facing... of course... however, I profited enormously...and me and my family... I will continue the series... we...the Romanians...are celebrating Christmas tomorrow... today I'm trying to get out of the house ....my wife and the other ladies in my house...they want to make me clean my trading station...to do general...
great post.
  • #73
  • Dec 24, 2022 10:44pm Dec 24, 2022 10:44pm
Quoting RCtrader
{quote} The point is that I do believe it could touch the 9k mark even if briefly. But I will convert it back to fiat money when it gets to 90k. Therefore, increasing my invested capital by ten times. On another topic of our discussion, I could agree that among 5 'no future' crypto coins one could turn out to be a successful one, but I am not on the losing side, because 4 of those I bet against are losing in value. The only problem that I may have is the transaction costs. It could cost a lot of money to keep a position open for 10-12 months. ...
Hi Alex;

Thank You for your feedback & you're most welcome.

So far as your intentions go, it sounds like you've got a well laid out plan for which I wish you all of the very best with, so far as entry price & your exit strategy goes.

Wishing you & all on the thread a pleasant day ahead.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #74
  • Dec 24, 2022 11:03pm Dec 24, 2022 11:03pm
Quoting PippityPips
{quote} oh yeah i know about the seed etc. very fortunately i sold my btc near the top. i then started trading fx.
Hi PippityPips;

Thank You for your feedback & I trust you're well this morning.

Oh Man, your escape from the custodial system with getting out at the top based on not having custody of "your" BTC is a great manner to begin this day.

You've proven beyond reasonable doubt that whatever the polar opposites say about crypto, the bottom line is there is profits to be made, provided we keep our finger on the pulse & focus on the goal as traders, generating profits.

I really wish I could give you two thumbs up for that!!!

Perhaps you are aware, or still looking into the fact that crypto can & is being acquired outside of the CEX system far from the scrutiny of central banks, governments, regulatory bodies or whomever else in the spirit of the direct peer to peer payment gateway which gave rise to it's inception. All the same, that's a topic for another day.

So far as FX goes, may I be granted this opportunity to wish you all of the very best with your endeavors with it & I sincerely wish that success follows your every footfall.

Wishing You & all on this thread a pleasant morning & day ahead and off course; goes without saying...

May the Markets go with You...
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #75
  • Dec 29, 2022 8:39am Dec 29, 2022 8:39am
Quoting LvMMT
{quote} Episode 5 It theoretically guarantees the technological impossibility of someone hacking the database...and changing your number of myFFCoins there...saying you have 10 when you actually had 50,000.... Basically... it's not impossible to do this... but it takes enough effort to be improbable in a large enough blockchain... That ... is the big innovation ... the big promise of system security that no one can change the already existing data... so you can rest assured that if it says there in a text that you have...
Episode 6

...the most common online frauds and thefts don't happen like in the movies
with a hacker sitting in a basement and... with a lot of pizza and cola...
manages to spectacularly hack the bank server and put you 0 instead of 50k...

...this happens in the form of a prince ...or a princess...writing to you
that it needs a bit of your password to check something...
or does he need the code that you now receive on your phone...
...etc...etc...

...the most common frauds are committed by people
who already have access to the system in which they operate.....
in other words...

you don't have to hack bank servers, just get a man's account and password…

and gain legitimate access to the system…

....there are many ways to get this information....
you can convince someone to just give them to you….
....can you convince them to click on a dubious link....
.... you can convince them to install a seemingly funny app...
or you can directly infect their computer with a virus....

precisely .... because this... is by far the most common type of fraud

any platform with serious claims has 2-factor authentication today....lol

in which, in addition to the password.... you have to confirm your identity with something...
usually the mobile phone

the crypto world is beating its chest strongly on the topic of security...

but it actually does absolutely nothing to prevent this most common type of fraud…

absolutely laughable… the digital wallet platforms where you can your crypto….
they have 2-factor authentication and brag about it like it's a good thing....lol again...

...so the security promise of cryptocurrencies is just a marketing veil...
which protects against 1% of fraud cases
and does absolutely nothing against the remaining 99%.

On the contrary, it strongly favors them.
On the contrary, it strongly favors them.
On the contrary, it strongly favors them.
On the contrary, it strongly favors them.....


God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #76
  • Dec 29, 2022 8:49am Dec 29, 2022 8:49am
Quoting LvMMT
{quote} Episode 6 ...the most common online frauds and thefts don't happen like in the movies with a hacker sitting in a basement and... with a lot of pizza and cola... manages to spectacularly hack the bank server and put you 0 instead of 50k... ...this happens in the form of a prince ...or a princess...writing to you that it needs a bit of your password to check something... or does he need the code that you now receive on your phone... ...etc...etc... ...the most common frauds are committed by people who already have...

Episode 7

...what actually secures this system is the finality of the theft, once you are stolen....
you have absolutely no recourse to get your money back….

the crypto world also operates under a high degree of anonymity…
there are no names associated with these online wallets….

you can see where your money went, because all transactions are public...
you can see the encrypted address of the thief's wallet....but this information is only useful if you print it....

put it on your pillow and cry tears of poverty on it...

what the teleshopping product promises.... is a type of security
put in very pompous terms that you don't understand...LOL...

but whose purpose is to give you the sensation
that it's so complicated that it sounds pretty safe....

...what does, instead, in reality... is to create an environment in which the most common type of fraud

to now benefit from the guarantee of anonymity and irreversibility. LOL LOL LOL

As the system is decentralized and there is no final authority,
you have no one to complain to and no one to help you.

It's like a piece of code on the internet stole your money.

Loud... Very bad...
Loud... Very bad...
Loud... Very bad...
Loud... Very bad......


God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #77
  • Dec 29, 2022 9:02am Dec 29, 2022 9:02am
Quoting LvMMT
{quote} Episode 7 ...what actually secures this system is the finality of the theft, once you are stolen.... you have absolutely no recourse to get your money back…. the crypto world also operates under a high degree of anonymity… there are no names associated with these online wallets…. you can see where your money went, because all...
Episode 8

there are funny exceptions though where if you're rich enough
you can determine the fork of the blockchain and thus recover your money....smart...

...it's too heady to go into details now, but look up TheDAO for fun....

move on....

blockchain has two components…

this database and the mechanism by which the addition of new information to it is validated....

In the case of Bitcoin... the database is basically a transaction ledger...
a digital notebook that records what so-called coins were sent where...LOL

...because it's a decentralized system, any participant in the validation mechanism...must have the entire database in their possession...

in a centralized system the information sits somewhere on a main server...

in a decentralized one: information is copied and shared among all participants….

so, as it would come, on a much larger number of servers....

this being the case, you need to see how you coordinate
all these databases crawled all over the world to say the same thing...
don't write in one that you have 1 bitcoin and in another that you have 0....
that's the whole scheme...

this is where cryptocurrency mining comes in...

what this means is that you are using your computer's processing power to validate network transactions...

to confirm that they happened correctly...
How is it determined what is correct .. maybe I will write more or maybe not... I will decide...
the process is called "Proof of Work"...

there are other types of validation... but proof of work is the most common...

it's the most common...
it's the most common...
it's the most common...
is the most common...

God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #78
  • Dec 30, 2022 11:22am Dec 30, 2022 11:22am
I'm sorry...but I won't continue...the series...
I suspected that some scammer would dislike my post...

be careful...you have scammers here...who don't want the truth...

they just want to trick you... maybe you buy something from them... or give them a user pass...
goodbye... and stop supporting scammers...
to the others... I wish you much success and a better new year!
I also wish the scammers to change their thinking and emotions... who do not accept the truth...

I remind them of something... only the light triumphs...

adios...

God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #79
  • Dec 30, 2022 12:11pm Dec 30, 2022 12:11pm
Quoting LvMMT
I'm sorry...but I won't continue...the series...
I know where the problem is.
Hm...
You bought some crypto-coins and now you are feeling guilty. Aren't you?
Risk Management is of utmost importance!
  • #80
  • Dec 30, 2022 12:24pm Dec 30, 2022 12:24pm
Quoting RCtrader
{quote} I know where the problem is. Hm... You bought some crypto-coins and now you are feeling guilty. Aren't you?
you make me laugh...

I really expected...


God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
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