Thetamind
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Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilised.

Sun Feb 12, 2017 9:08 am

Bitcoin is the revolutionary idea that world needs to create a better world. The usage of bitcoin, is the fact that people can send money from anywhere in the world, to anywhere in the world, without a central authority to give permission for the transaction to occur. That means, you don’t have to go through a bank, and you don’t have to go through the government. You become your own bank, and the fees to send bitcoin instantly across the globe, are so small that they’re not worth mentioning. There’s no middle man taking their slice. What backs it, is the fact that bitcoin must be mined, using computers with enough computing power to do it. There are only 21 million bitcoins that can be mined, which means, it caters to the law of finite supply.

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The law of finite supply, is like gold, or diamonds, they’re expensive because there isn’t much of it. Well Bitcoin is the same, as more and more people use bitcoin, the value can only go up, because of the finite supply, it makes each bitcoin worth more instead less like the dollar, because when the government needs more money, they just break out the printing machines and print more, making the total value of a dollar, less and less each time they do this. That is why the buying power of a dollar is so insignificant now, compared to 50 years ago.

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It’s backed by it’s finite supply, and something called blockchain technology, which is a technology that makes all transactions made in bitcoin, available to the public, and each computer connected to the network must verify all transaction, making counterfeit bitcoin impossible. It also make it impossible to back, because in order for a hacker to be successful, they would have to hack over 51% of all computers on the network, at the exact same time, and that is impossible. It’s like trying to overdose on marijuana, it just can’t happen. The blockchain technology has enabled an honest currency, that can’t be hacked.

Bitcoin is being utilized now as a decentralized payment system. Many online stores are now offering bitcoin as an accepted payment method. The most important aspect of it, is that you can be your own bank. And that strips banks and governments power over you, which makes bitcoin a literal threat to capitalism, and the government and banks control over the masses. Bitcoin can be used by anyone and everyone with a smart phone, which means, those in poor countries, who can’t afford a bank account and all the associated fees, can now deal directly with people using bitcoin, thus, lessening poverty as a result.

Bitcoin and the blockchain, are the technology we have been waiting for, to change this world, the paradigm shift, that we desperately need, when capitalism fails us. Instead of descending into chaos, bitcoin can be the solution, and it will be a far better world.

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sadiq
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Sun Feb 12, 2017 10:01 am

Bitcoin is a decentralized digital currency found by a person satoshi nakamoto. It is not controlled by anyone.Only total of 21 million coins will be available out of which around 16 million coins are already mined.For more details about bitcoin, you just watch this video, "THE RISE AND RISE OF BITCOIN".


Thetamind
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Sun Feb 12, 2017 9:29 pm

Thanks for the replies guys, this question was actually asked to me in my blog, and so I posted the question and my answer to it.


rizzlarolla
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Wed Apr 05, 2017 8:02 pm

Thanks for the replies guys, this question was actually asked to me in my blog, and so I posted the question and my answer to it.
Can you link the blog please.




rizzlarolla
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Wed Apr 05, 2017 10:41 pm

That is correct.
OK.
Not sure i got this right. Is that your blog handle - "Scientific Divinity"?, and your photo?

Why does Scientific Divinity say's "I live in Vancouver Canada and was born here." http://scientificdivinity.tumblr.com/Aboutme
But you say here "I am based in north america," post46720.html#p46720

Thetamind
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Wed Apr 05, 2017 11:16 pm

That is correct.
OK.
Not sure i got this right. Is that your blog handle - "Scientific Divinity"?, and your photo?

Why does Scientific Divinity say's "I live in Vancouver Canada and was born here." http://scientificdivinity.tumblr.com/Aboutme
But you say here "I am based in north america," post46720.html#p46720

What the fuck is your problem? Do you want me to post on my blog saying HEY RIZZLAROLLA YES IT'S ME? Why do I have to prove anything to you anyway?

I wrote every article you see on that blog. I live in vancouver, the last time I checked, vancouver is in north america... I tend not to give out too much information to people on these sites, north america is more broad... Isn't the point of crypto to be anonymous? Do you want me to add you to my facebook page too? Do you want to call my mother, to make sure she gave birth to me, and her doctor to confirm? Geez.

rizzlarolla
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Wed Apr 05, 2017 11:36 pm

That is correct.
OK.
Not sure i got this right. Is that your blog handle - "Scientific Divinity"?, and your photo?

Why does Scientific Divinity say's "I live in Vancouver Canada and was born here." http://scientificdivinity.tumblr.com/Aboutme
But you say here "I am based in north america," post46720.html#p46720

What the fuck is your problem? Do you want me to post on my blog saying HEY RIZZLAROLLA YES IT'S ME? Why do I have to prove anything to you anyway?

I wrote every article you see on that blog. I live in vancouver, the last time I checked, vancouver is in north america... I tend not to give out too much information to people on these sites, north america is more broad... Isn't the point of crypto to be anonymous? Do you want me to add you to my facebook page too? Do you want to call my mother, to make sure she gave birth to me, and her doctor to confirm? Geez.
Ahh, poor you.

You blog, describing yourself and your life and your photo (and maybe your name which i did not even ask about)
Then you link your blog on this discussion forum.
Now you want anonymity?

No i don't want your mother or doctor to confirm, a little OTT there, for a blogger.
Sorry i asked. (you seem a bit tense here, yet are so chilled on your blog, thanks to your "awakening")_

You don't need prove anything to me.
Could you just post a message to Bitkilo on your blog instead? Surprised he didn't ask already.

Thetamind
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Thu Apr 06, 2017 12:14 am


OK.
Not sure i got this right. Is that your blog handle - "Scientific Divinity"?, and your photo?

Why does Scientific Divinity say's "I live in Vancouver Canada and was born here." http://scientificdivinity.tumblr.com/Aboutme
But you say here "I am based in north america," post46720.html#p46720

What the fuck is your problem? Do you want me to post on my blog saying HEY RIZZLAROLLA YES IT'S ME? Why do I have to prove anything to you anyway?

I wrote every article you see on that blog. I live in vancouver, the last time I checked, vancouver is in north america... I tend not to give out too much information to people on these sites, north america is more broad... Isn't the point of crypto to be anonymous? Do you want me to add you to my facebook page too? Do you want to call my mother, to make sure she gave birth to me, and her doctor to confirm? Geez.
Ahh, poor you.

You blog, describing yourself and your life and your photo (and maybe your name which i did not even ask about)
Then you link your blog on this discussion forum.
Now you want anonymity?

No i don't want your mother or doctor to confirm, a little OTT there, for a blogger.
Sorry i asked. (you seem a bit tense here, yet are so chilled on your blog, thanks to your "awakening")_

You don't need prove anything to me.
Could you just post a message to Bitkilo on your blog instead? Surprised he didn't ask already.
I am pretty chill.... I just don't like being accused of plagiarism, nor do I like being called a liar, which is what you were inferring. So I'm living by the motto, do no harm, but take no shit.

All of the writing in the blog, and in the posts nominated for the contest, came from yours truly. I will prove it even more if it's required of me. I even said in the comments it came from my blog, if I was trying to rip it off, why would I have mentioned a blog at all, I would have just posted it and not said anything. Why does Bitkilo need to see my blog, why is that relevant to anything? I'm curious, what is it that you're trying to prove here?

Thetamind
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Thu Apr 06, 2017 12:16 am


OK.
Not sure i got this right. Is that your blog handle - "Scientific Divinity"?, and your photo?

Why does Scientific Divinity say's "I live in Vancouver Canada and was born here." http://scientificdivinity.tumblr.com/Aboutme
But you say here "I am based in north america," post46720.html#p46720

What the fuck is your problem? Do you want me to post on my blog saying HEY RIZZLAROLLA YES IT'S ME? Why do I have to prove anything to you anyway?

I wrote every article you see on that blog. I live in vancouver, the last time I checked, vancouver is in north america... I tend not to give out too much information to people on these sites, north america is more broad... Isn't the point of crypto to be anonymous? Do you want me to add you to my facebook page too? Do you want to call my mother, to make sure she gave birth to me, and her doctor to confirm? Geez.
Ahh, poor you.

You blog, describing yourself and your life and your photo (and maybe your name which i did not even ask about)
Then you link your blog on this discussion forum.
Now you want anonymity?

No i don't want your mother or doctor to confirm, a little OTT there, for a blogger.
Sorry i asked. (you seem a bit tense here, yet are so chilled on your blog, thanks to your "awakening")_

You don't need prove anything to me.
Could you just post a message to Bitkilo on your blog instead? Surprised he didn't ask already.

http://scientificdivinity.tumblr.com/po ... bitcoincom

Thetamind
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Thu Apr 06, 2017 12:20 am

Let me know you've seen it, so I can delete it and not confuse my followers. Thanks.

rizzlarolla
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Thu Apr 06, 2017 12:37 am

Let me know you've seen it, so I can delete it and not confuse my followers. Thanks.
ok, I've seen it, thanks.

"HEY RIZZLAROLLA YES IT’S ME from bitcoin.com forums. Aka Thetamind. 24 MINUTES AGO" :D

cryptobit
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Re: Can you please explain bitcoin? I'm internet savvy, but I am unsure as to the usage, what backs it, how it is utilis

Fri Jul 07, 2017 11:04 am

Sure. Bitcoin is a virtual currency. Yes.! U need to believe it now. And it's opportunities are way beyond than what we can imagine. Founded and implemented by Satoshi Nakomoto in 2008-2009 have taken a huge pace forward and have crossed all limits.
It is mainly used for transaction in bits or bitcoins and the unit is called as satoshi.
It's mined using miners and gpu.
Japan has recently accepted bitcoin as their currency so now I don't think there is more explanation required for its usage.

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