Bitcoin was designed to create runaway speculation at determined intervals

Bitcoin was designed to create runaway speculation at determined intervals

The availability is designed to be the inverse of the demand, meaning that as interest doubles availability halves, meaning that insane deflation is practically guaranteed. Moreover bubbles are designed to appear at fixed intervals. I know there is a fake excuse for it being the way but it is completely undermined by Bitcoin being everything that causes instability and speculation in commodity put on steroids and rolled into one. I've also seen a statement regarding how much trade they expected to eventually to be done with Bitcoins which again would not be possible without an insane increase in value of the individual coin.

Reading up on this shit made me stay up way, way too long so please excuse any obtuse sentences.

Starting off the blockchains at the base of the system revolve around finding a hash calculated from data about the preceding block + recent transactions + current time + some counters which match a precise criteria. If found the data used for the hash is put into a new block and uploaded to the other peers to be added to the chain. The strictness of the criteria and thus the difficulty of solving blocks scales directly relative to the amount of computing power applied by all users such that (ideally) a constant number of six blocks are solved every hour, and coins are awarded for each solved block. This alone means deflation will be massive.

As the number of blocks solved (meaning instances of coins awarded) is the same regardless of if you are ten people or ten million the event of getting a coin rewarded is effectively a million times rarer in the latter case than in the first case. This is extreme to say the least. If interest in something increases a million times then typically the effort to supply it will also increase about million times. Even if something is naturally scarce, like a mineral, more people looking for it naturally leads to more of it being found and thus keeping supply more or less proportional to demand by some factor. Not so for Bitcoin which has a fixed supply regardless of demand.

On top of this the number of coins awarded per block is designed to be fucking cut in half every four years, and by cut I mean from one minute to the other. Eight years on from 2009 the start of bitcoin is mid 2016, right when the exponential increase in value started due to the massive speculation that this plummeting in availability caused. Had speculation not been the goal the change in the number of coins awarded would have been designed to followed a smooth curve as to keep the upsets to a minimum. Instead the system has gigantic market upsets built right into it and, more importantly, at predetermined dates. Essentially it was designed to let those in the know be aware of when to intensely hoard coins as they would know exactly how long they would have to hold them before getting guaranteed returns on the "investment".

Fuck you and this fucking character limit.

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Basically all of this means that in the beginning it was extremely easy to hoard coins since they were generously awarded at a constant rate to a small group. At today's exchange rates the issuing of bitcoins in the beginning was about $2 million per hour, distributed among the users proportionally to the power of their computers. Since Bitcoin promised free money, even if a little, you knew it had a good hook to keep on building up that pyramid of more and more latecomers below you, having less and less chance of getting a coin but only making your coins more and more in demand. With the built in cue for market upsets it was was easy to tell at which low point to stock up all the coins you could buy for a guaranteed return, and due to how greater demand does not mean more coins become available unlike in say housing bubble where more houses start being built, slowing the increase in value until eventually supply catches up with demand you knew that if a major bubble ever happened it would just keep on accelerating at an exponential rate without anything to slow it down, as far as the market dared to go More interest in Bitcoins could only ever mean higher scarcity, unlike in other markets where more interest also means more people getting busy putting more of the product on the market until it gets saturated, and so the value was set to skyrocket in a way impossible for anything but an artificial commodity.

TL;DR: This would have been obvious to anyone bothering to look into how the scheme was designed. I've never really cared, assuming it just been typical market kikery, and only decided to look into exactly what it is becasue of this thread on profiteering from nonproductive work . Simply put Bitcoin is kikery on a whole other level and so are any other cryptos which have these precise mechanics. If it ever became popular this runaway event was guaranteed. In this case it's too bad Zig Forumsacks are into honest work and not this shit; all that jew money being turned around to fight the jew could have accomplished great things. Now it seems to essentially be in the hands of kikes and narcissistic degenerates.

Rewards halving only affects miners and miners know exactly when the rewards will halve - it's factored into their ROI calculations and doesn't have the huge effect on the price of bitcoin which you're suggesting. Nice blog post, faggot. Keep supporting central banking and hoarding Jew gold.

Zig Forums is convinced that cryptocurrency is a Jew plot to control everyone. Somehow.

everyone knows when the blocks will halve it's not a secret.

Half of OP's post applies to every scarce resource on Earth. Salty nocoiners.

so i don't understand. at the end of this tldr, should I buy bitcoin now or what?

I would only buy bitcoin if I wanted to buy something with it. No way I would buy and hold when it's on the way down.

Sad thing is, I could have mined bitcoin when I was in college almost 20 years ago. I never would have held it though, when bitcoin hit $100 I probably would have sold it all.

we /bullmarket/ now rite bois?


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Don't you see? It is our very attraction to honest work who makes us who we are. Being granted a free living is poison for the soul; "the best way to kill a man is to pay him to do nothing." It is the very experience of being granted something for nothing that turned these once-normal men into narcissistic degenerates. One's self-estimation balloons to infinity with the production of something for nothing, especially over an extended timescale. It spawns hubris, it's psychological cancer, and I'm glad we could escape it.

All of this was well-known from day 1, but the implications were not clear. Thanks user. I had suspected kikery but this is the most clear explanation yet.

At least I didn't waste actual resources on helping to mint a private fiat currency. Hint: what is the intrinsic worth of fiat currency? Why do fiat currencies have any use at all? Why does this not work with a fiat currency with private backing?
Enjoy your digital tulips.

I think so.

I didn't read your post but it seems like we agree.

Bitcoin going to $0, but ETH going there first.

buy at one order of magnitude
sell at the next
breddy zimble

Are you a time traveler or stupid?

Because it's limited.

Try harder.

No one is falling for your lies, Chaim.

These Coins will collapse to zero, Let me Explain.
steemit dot com, You get can make a few pennies Just by posting comments. This is Just one example of what the Future of Crypto looks like.
The Only reason Bitcoins and litecoins became Popular was because people where buying Drugs, Doing Drugs while looking at some hookers boobies.
The Future is in Cryptocurrency Yes. But Not the Old Cryptocurrency.

Are you fucking retarded? Do you even know how many cryptos there are? The most ignorant people spout the most retarded shit i swear. There are so many privacy based cryptos its not even funny. Not only that but a fuckton of cryptos are going to POW which eliminates all of the stupid bullshit spewed in the op. Learn about shit before you just spew shit out your asshole

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Sorry I meant to say switching over to POS which eliminates the requirement for retarded amounts of electricity by eliminating the work and not only that eliminates the chances of centralization. Please do some basic fucking research like I said jesus christ.

Let me explain something to you all. Bitcoin is a ponzie scam ….. but so is the stock market, and basically life itself. The reason the wests economy was going tits up is because of population reduction programs and a sub 2.1 birth rate, hence requiring immigrants. Problem is, that's the only way to do it, there is no other way but owning slaves, or finding some unlimited energy source in which to bases the money off of.

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Explain in what way the things that I actually said are wrong. Nothing you said has anything to do with what I said.

I just explained to you how you are wrong. There are privacy based currencies that don't even keep record of transactions. And like I said a lot of cryptos are moving over to POS which drastically eliminates the chance of centralization.

electric currency is the only way to hide the fraud of the federal reserve and banking system in general when the dollar scam cant sustain anymore. crypto is a barter system because all the coins are use based. u fucked poor goys. put 50k in or die starving. profit off the UN agenda while btc is worth something and move to new Zealand or some place where you can get a real aloidal land title from a corrupt official

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So explain what's wrong with money. Why shouldn't we move back to money instead of continuing to use arbitrary fiat currency? What guarantee can you give that any given store will accept any given crypto?

First of all crypto cant be a fucking fiat because its not backed or owned by any country in any way. Secondly the thing that I just said is a major advantage to crypto. The fact that its decentralized and not controlled by anyone. There are already many online stores that accept crypto as a payment like Newegg or Purse which just allows you to buy shit straight off of Amazon with Bitcoin and there are so many more that I seriously cant be fucked to list them all. Stores have to start seeing the value in having a option to pay with Bitcoin or Ether or some other crypto.

For fuck's sake. I can't tell if this board is full of 30 year old Boomers or ridiculous astroturfing Kikes.

If you don't understand that Bitcoin's value is due to its scarcity, and that its provable scarcity means it is arguably the greatest store of value ever created, then you are a turbo nigger.

I know many of you are old, jaded, tired of "the new thing" that is coopted and poisoned. I know many of you are just here because you're contrarians, because you lack the IQ to really understand the esoteric concepts behind some of the viewpoints that are posted on this anonymous imageboard. There are some of us who wish to make an impact on this nation, perhaps world? In a timely fashion.

The legacy financial system has been structured in such a way that our people, our people being those who wish for a more traditional, natural, orderly world versus the artificial Marxist concept of what the world should be - cannot win. No matter how hard you wagecuck, no matter how many "Sick Stock Trades" you make, no matter how big your pile of Gold is (I know for a fact if you can't understand why Bitcoin is valuable you're probably way too dumb of a nigger to have a big stack of gold in your basement kek) - you are simply not in a position of power, and given that many of you are unapologetic Nazis, the current power structure will *never* allow you to take back your birthright.

Enter Crypto. Digital gold, cheaper-than-dirt remittance payments processed globally in the time it takes to flush a toilet, smart contracts that completely eliminate the need for a middleman, provably fair voting processes, 100% transparent gambling, uncrackable encrypted and private currencies, and so on. Cryptocurrencies is a misnomer - what is being built is the backbone of the new world.

If you think that this is all smoke and mirrors, you are a glow-in-the-dark or a fucking 40 year old faggot who if given a get out of jail free card, I would literally execute. There are no excuses to be ignorant on this subject, you have Google. You have Youtube. If you want your family to have a seat in the New World Order, you will take 30 minutes out of your fucking day each day to understand: Blockchain, Distributed Ledger Technology, Smart Contracts, Proof-of-Work, Proof-of-Stake, Bitcoin, Ethereum, Hard Forks, Soft Forks, Cryptography, and so on.

Life is full of conspiracies. I'm not telling you crypto is perfect, or that my particular investments will go to "the moon" within 5 years of purchase. What I can tell you, is that if you for just a small portion of your time drop the pretenses that "financial work is for evil Jews!" " I'm White so making money is evil i work with my hands!" "Investing in Bitcoin is money for nothing and therefore wrong!"… you might wake up one day in a world where you are more than just a cog, and kike banks don't control your bloodline.

SIDENOTE: I held through this last crash. If you think this is "free money", "easy money", or that any idiot can make a few million just by throwing his money into whatever bullshit he saw on - I invite you to try it. This shit will make your hair grey. Ever wonder why all the worlds top bankers are bald? Come find out why lol

I'll be around for questions.

If only we could harness the endless whining and squealing of kikes.

It was created by the nsa and the cia and it is ridiculous to trust bitcoin, don't you even wonder where the money comes from?

Bitcoin would be okay if it were purely confined to it.
The moment it gets exchanged for "money" it becomes an interface to fractional reserve banking and debt based "fiat currency" and becomes cancerous again.

If fractional reserve banking gets removed, there would be little need for bitcoin in the first place.

But enjoy your eternal dance around the kike bonfire instead of stamping it out.

haha thats cool!

Do the mods put an anchor on the threads they like?

This is patently false. It's like saying that if the supply of gold from mines would suddenly be cut in half from one day to the next this would only affect mining corporations. The shock on the gold market would be cataclysmic.

Of course, it's in the specification of the system, but if you don't understand economics this information is useless to you, so is it to anyone with a sense of economics who has not looked into how the mining actually works.

The supply of something desirable instantly being cut in half must have enormous effects on it's market value. You have to be completely delusional not to understand something as simple as this. It's like trying to claim that if the supply of petrol reaching gas stations was suddenly halved, and stayed halved, it would not send the price per gallon going absolutely apeshit.

the reason digital currency works is because of the verifiability of the transaction. with paper money, there's always the chance of it being fake (and a lot is). in past history, countries waged economic war by flooding their enemies with fake paper currency to destabilize. you can't do that with digital currency. so it has more value than most other forms of money.