PayPal Cuts Ties With Jewish Bitcoin Multi-Millionaire Alt

The True Value of Bitcoin: What You Really Need To Know -(Stefan Molyneux)

The True Value of Bitcoin: What You Really Need To Know -(Stefan Molyneux) submitted by _CapR_ to Futurology [link] [comments]

Keep calm and watch this: The True Value of Bitcoin by Stefan Molyneux [Repost]

Keep calm and watch this: The True Value of Bitcoin by Stefan Molyneux [Repost] submitted by cayspekko to Bitcoin [link] [comments]

Stefan Molyneux- The True Value of Bitcoin: What You Really Need To Know

Stefan Molyneux- The True Value of Bitcoin: What You Really Need To Know submitted by TryHardDieHard to Bitcoin [link] [comments]

Stefan Molyneux- The True Value of Bitcoin

Stefan Molyneux- The True Value of Bitcoin submitted by TryHardDieHard to lectures [link] [comments]

Molyneux interviews Gabe Hoffman, producer of An Open Secret, the documentary which exposes Brock Pierce's involvement in child sexual predation in Hollywood

Stefan Molyneux just posted a new interview with Gabe Hoffman, producer of An Open Secret. They discuss, among other things, how the US legal system protects pedophiles and child sexual predators by not punishing them.
An Open Secret clearly shows that Brock Pierce was heavily involved in one such disgusting, predatorial operation. In fact, Brock lived in the house where this was all taking place. He claims he is innocent. He was never charged.
When in 2014 Brock Pierce, Mark Karpeles, and Charlie Shrem were proposed as new members of the Bitcoin Foundation, there was an immediate uproar and demands for their resignations. A lot of stories about this reaction were later scrubbed from Google's search index. Brock refused to recuse himself.
Days later, former Bitcoin Foundation member Patrick Alexander and 9 others resigned from the foundation. Alexander explained why this was an important moment for the foundation, and for Bitcoin:
The foundation members need to emulate very high moral values and ethics in business and in personal dealings, especially as it involves money. So far, the track record of prominent Bitcoin Foundation members has been abysmal.
I no longer want to be associated with these people.
All this occurred shortly after the 2013 bull market and Mt Gox fiasco. You will not hear much talk about this story now, except in btc. It has been brushed under the rug. Frankly, this is part of the story of BTC's fall.
,
An Open Secret | Gabe Hoffman and Stefan Molyneux (new interview with the film's producer)
An Open Secret is an American documentary film directed by Amy J. Berg exposing child sexual abuse in the film industry in California. The film features interviews with victimized performers, who were targeted when they were young boys, as well as industry figures, the predators themselves, and journalists.
Watch An Open Secret (free): https://vimeo.com/142444429
IMDB: http://www.imdb.com/title/tt3677412
Twitter: http://www.twitter.com/anopensecret
submitted by satoshiscrazyuncle to btc [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-()
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to ethereum [link] [comments]

A warning from the future

It's the year 10 AS (After Satoshi). They warned us, but we mocked them. In the end, they had the last laugh. Ten years ago, in the pre-liberty year of 2015, Bitcoin dropped to 220$, an event Austrian-economic scientists now refer to as the triangular-self-reinforcing-power-buy-loop. The price shot up instantaneously to 10.000$ per coin. Over the course of the rest of 2015 PL, the price continued to rally, until eventually Bitcoin was larger than the galactic economy.
The world governments quickly capitulated, one defaulting after the other. Holy Prophet Stefan Molyneux, hallowed be thy name, bought the UN for 6 bitcoin, then disbanded all nation states. Since then our economy prospered, global GDP has increased by 384,400%, and unemployment doesn't exist anymore.
Our society is guided by the captains of industry that created eternal value for mankind by investing early in the Blockchain. We are all obligated to pay a 60% annual tribute of our labor in honor of this eternal value.
I myself am property of the Royal-Divine-House-of-Pegasi, ruled by the patriarch Americanpegasi, holder of 7 Bitcoin. After failing to make my rent-payment on time, my status was lowered to non-white, I'm told that the term has no racial connotations. I didn't ask much more about it, because I know what they do to SJW's.
The current value of 1 Bitcoin = 1% of all wealth. I wasn't sure if that was correct because I still have a pre-Liberty education. Since then they've outlawed Math and replaced it with Praxeology, my son (legally I must address that he is my son in name only, legally the house of Pegasi holds the title) tells me that they recently praxed this question out, and they concluded it was correct.
Though things are good for me and my family in our permitted-residential-sector, I can't say everyone benefited from the great Bitcoin revolution.
Buttcoiners were hunted down to extinction. Until the end of time, they kept playing with their meaningless fiat trinkets, or waiting for their governments to save them. Though hunting man for sport initially struck us as a violation of the NAP, it was soon explained by Stefan, hallowed be thy name, that because Buttcoiners were mean to early adapters, they had violated the NAP first, so it was moral to hunt them like animals.
But, for those of us who work as hard as the captains of industry that now own much of the world, life is reasonably good. If you'll excuse me, it is time for the annual celebration of hubris, where we throw fiat money at caged Buttcoiners.
submitted by Zalzaron to Buttcoin [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to Futurology [link] [comments]

I Finally Figured Out Bitcoin

I Finally Figured Out Bitcoin
Economists, Lieutenants, Agents in the Field,
lend me your ears!
www.fmz.com
For I have finally figured out bitcoin! And truthfully, this is one of my best mental achievements. And hopefully, through my ability to write clearly and explain things, I may be able to explain bitcoin to us all.
I had listened to this podcast of Stefan Molyneux on bitcoin. It was very good, but did not fully answer my question, "why does a bitcoin have any value?" However, what the podcast did do is bring my perception or "observation" up high enough that I could finally see and conclude how bitcoin does actually have value.
www.fmz.com
To understand why bitcoin has value, you first need to think about why currencies exist in the first place.
The answer from an economics 202 class is "to avoid barter."
Barter is horribly inefficient. If you are a cow herder and want a pint of ale, well, you're out of luck. Because you can't trade a whole cow for a measly pint of ale. Nor can you slice off pieces of beef from the live cow to make the trade more fair. Therefore, if any kind of economic trade and progress is to be made, you need a currency.
Historically, this has meant anything from gold and silver to salt and sea shells. But regardless of what item inevitably becomes an local economy's currency, they all have some key traits and qualities in common.
Divisibility - You can divide gold, silver or salt into measurable quantities. Pounds, ounces, grams, etc. This allows you to scale the currency to the value of the item you wish to purchase.
Durability - The currency cannot rot or decay over time. Milk is a bad currency because in 3 years time it will be quite gross. Gold in 3 years time will still be gold.
Store of Value - The currency must also maintain its value and purchasing power over time. If you're like Venezuela and constantly printing off more commie paper money, it will lose its value. But with a limited supply (gold, silver, diamonds, etc.) you can assume that currency will still have roughly the same amount of purchasing power as it did.
Finally, FMZ
Intrinsic Value - The currency must have some kind of real value. Gold can be used for jewelry. Silver can be used in electronics. Copper can be used in plumbing. Salt can be used in cooking. In other words, people will take it as a currency, because even if they don't use it themselves, they know somebody who will. It does have an intrinsic value unto itself.
And it is here (intrinsic value) where most people get lost on bitcoin.
Bitcoin meets all the OTHER characteristics and traits of a good currency. It's divisible. It's durable (infinitely as it is digital). And it will not decay (again, binary doesn't decay).
www.fmz.com
But precisely what practical, real world application does it have? You can't use it in electronics. You can't make jewelry (aka - buying sex) with it. So why does it have any intrinsic value at all?
The answer lies in comparing a currency's "intrinsic value" versus its value as a currency.
For example look at what has served as the primary currency throughout most of human history - gold.
Why does gold have intrinsic value? FMZ
Economists will answer, "because you can use it in jewelry" which is the polite person's way of saying, "men can buy sex with it."
But does that make any sense? That ONE thing you can do with gold, "make jewelry" is why it served as the standard currency for thousands of years across the planet? What you'll soon realize is that, yes, while gold can be used to make jewelry it serves a much more important function to society as a currency. In other words, an item's value as a currency is really not dependent on its intrinsic value. It just needs SOME intrinsic value to get people to have faith in it and start trading it.
Salt can be used to flavor and store food. Was that grounds enough to make it the Mali Empire's default currency?
Silver can be used to make jewelry and some industrial items. Was that grounds enough to make it the currency of the wild west?
Large clam shells could make some funky and uncomfortable bras in ancient Polynesia. Was that grounds enough to make it the default currency in the south Pacific?
Apparently so, because it DID HAPPEN. But not because of jewelry making potential or food storage potential. That was just "enough" intrinsic value to suffice. It was because those items provided more value to the economy as a currency than it did some as jewelry making materials or food flavoring. And to prove it an interesting comparison would be to compare the amount of gold (or silver) actually being used as jewelry versus that of currency, bullion or investment. I'd surmise over time, 90% of silver and gold has been used as a currency and NOT tiaras.
Understanding that a currency derives most of its value from its NON-intrinsic value traits, and only needs a "little" intrinsic value, this then puts the focus on how bitcoin derives it's "little" but necessary intrinsic value.
The answer is simple - scarcity.
Consider diamonds.
Why do they have value? FMZ
Taking the jewelry and industrial drilling uses of it away, why do they have value?
The answer is, they don't. They serve no purpose. At least from a PRACTICAL or PURPOSEFUL perspective.
But because they are so rare people will scramble for them. But understand what we're talking about when we talk about "scarcity" or "rarity." It is in relation to other things.
www.fmz.com
On this planet there is 9 quadrillion megatons of dirt and maybe 100,000 pounds of diamonds. Both dirt and diamonds have no real practical use or value, but diamonds are considered infinitely more valuable. Ergo, when we talk about scarcity, is merely a RATIO between two items that determine whether it is valuable or not. It is simply the ratio of the supply of one thing on the planet (copper) versus that of another (platinum).
And this is why bitcoin has that wee bit of necessary intrinsic value. It is very much like diamonds in that is has no practical use, but it is scarce. Matter of fact, diamonds, gold, silver, rare earth, etc., are constantly being dug up out of the ground. The makers of bitcoin have limited their supply to 21 million units forever, making it even more scarce.
In the end, bitcoin is really nothing more than a private sector currency akin to digital diamonds. And it is my opinion, you have a currency that is better than any official government fiat currency out there as it cannot be hyper-inflated away by a central bank. However, there are some drawbacks to bitcoin.
One, it is completely dependent upon the internet working. Any post apocalyptic event that shuts it down or turns off the electricity, and it's about as valuable as those gold ETF's you have. Two, it is not yet universally accepted by people. This may change over time, but it is a distinct (though growing) minority who use bitcoin. Three, it is such a threat to other established currencies I have no doubt in my mind governments will do everything they can to put the kibosh on it. Fourth, it can be undermined by another digital and more preferable currency.
Regardless, whether bitcoin ends up becoming a universally accepted currency is another matter. the key economic lesson to take from this is what drives the value of a currency is not so much its intrinsic value as much as it is the amount of value society puts on it as a tool for exchange.
FMZ
submitted by FmzQuant to u/FmzQuant [link] [comments]

Does Peter schiff's argument against bitcoin come from his vested interest in gold?

So I'm not (yet) taking a position in this argument, but I do have some questions. On the one hand there's the bitcoin community and users (and Stefan Molyneux), and then there's Peter schiff and other libertarians.
Peter Schiff points out that beside some technical arguments a lot of proponents of bitcoin have a vested interst in them because they own some (like the dotcom bubble). But I can't stop thinking that this is also true the other way around.
Every dollar going to bitcoin isn't going into gold, being his preferred currency.
Also, so his major objection with bitcoin is that it's missing 'intrinsic' value. Is that really a valid argument here? I know that that is empirically how things came about, but is it also really nessecary for a currency?
Stefan hosted some of Peter's shows, so they must really appreciate eachother. I would love to see a debate between the two on this topic.
What do you guys think?
submitted by WordsAndSich to Anarcho_Capitalism [link] [comments]

[uncensored-r/Bitcoin] It's in times like these that education is necessary

The following post by jonat3 is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7r1eah
The original post's content was as follows:
Playlist with Andreas Antonopoulos as well as a few other classics. Is meant for people completely new to bitcoin.
Took quite awhile to assemble this playlist. Playlist is in chronological order. Watch in that sequence. Adjust playing speed in youtube to suit your needs.
Consider this page 1 in a series. May be updated from time to time.
Intro
Who is in control
How does it work
Security (and who's backing it)
By the love of God, watch first video entirely (click link in description once you understand). Don't be goxxed!
Some videos about bitcoin being a bubble
Some basic economics
Networks (!!!)
Why Bitcoin
Altcoins vs Bitcoin
Worried about high fees or the slow transactions? See the motivation behind the fee structure (pay special attention to the last video)
Important classics about the theory of money
Early classics (last video is gold :p)
Important backdrop for why bitcoin emerged starring Stefan Molyneux and Mike Maloney
Bitcoin's larger importance with Andreas Antonopoulos
Banking and Blockchain with Andreas Antonopoulos
Consumer protection
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

What is your philosophical reasons for using BitCoins?

I've been attempting to post what I believe is a relevant link to an excerpt from "Atlas Shrugged" for the past two days with little success (Click on my name to see my previous posts to BitCoin that are not searchable in /BitCoin, as any posts with the link get taken off /BitCoin).
In any case, I've been thinking about the value of BitCoins and the philosophical reasons for using this new system over traditional money systems. I believe it is important to name the reasons for using BitCoin, that is unless you are just hoping to make a quick buck. There needs to be defining reasons for people to adopt BitCoin, as BitCoin at the moment only gives a small handful of reasons:
  1. Fairly private.
  2. Cannot be taken from you by force.
  3. Low Transaction fees.
These reasons are not enough for the general public to use BitCoins, because it is outweighed by the following:
  1. Highly volatility value.
  2. Requires technical know how to use.
  3. FUD - People worry about governments getting involved and destroying BitCoin values.
So, again the philosophical reasons for the average person to use BitCoins in the short term have to outweigh the current difficulties. If you don't agree with Ayn Rand, perhaps you see it the way Stefan Molyneux does. Or perhaps you see it from the viewpoint of uncontrolled war to defend the U.S. Dollar (See Robert Newman's History of Oil). However, you see it, there has to be an answer to the "why?". What's yours?
submitted by BobbyLarken to Bitcoin [link] [comments]

An interesting bitcoin analogy: Bitcoin wallets as safety deposit boxes

Understanding Bitcoin - Stuntman Stoll 11-24-2013
There are plenty of articles and videos that try to explain bitcoin, but I don't think they do justice in showing the genius behind it so I'll give it a try.
For starters, let work with an analogy (that is original as far as I know). Think of a wall of safety deposit boxes (they are called addresses in bitcoin lingo). The face of each box is 4”x4” and has a glass door which a numbered key can open. Each box has a number label on the door that is different than the number that is on the key (but the number's are linked – they only work with each other [the address can be deduced from the key but not vise-versa). Each safety deposit box has has a slit in the door so that people can be given the number to the box, find it, put coins in the box (from their box), see how much money is in the box (remember, it has a glass door), but they can't do anything with the contents without the separate numbered key. The safety deposit boxes are instantly available to anyone in the world with an internet connection, and anyone can claim as many boxes as they want for free. There are no names on the boxes but it isn't completely anonymous because there is a ledger with all of the transactions between the safety deposit boxes. There are a LOT of safe deposit boxes. It is based on 256bit cryptography which means it takes a string of 256 0's and 1's to identify each key, and therefore each box. The number of combinations those 0's and 1's can be arranged in could be shown as 2256, or about 1ee77 (ie. 1 with 77 zeros behind it). The size of the wall of safety deposit boxes (remember 4”x4”) would be 2ee34 miles square (or 3,700,000,000,000,000,000,000 light-years square or about 37 billion times the size of the known universe). That makes the odds virtually zero that anyone would accidentally (or purposely) stumble upon the key that is associated with your safety deposit box.
Bitcoin as an idea was invented in 2009 by an unknown person or group of people who went by the pseudo-name Satoshi Nakamoto. It is believed that the first real world transaction took place in May 2010 when a pizza was bought for 10,000 bitcoin. It likely was invented in response to earlier attempts to create a digital currency to compete with the US dollar. Two of the most (in)famous attempts were E-gold and Liberty Dollar. They were both set up as a digital currency that was centralized on one computer system which had its currency backed by gold (and other precious metals in the case of Liberty Dollar. Liberty Dollar also minted their own physical coins). People could enter the currency by depositing gold or US dollars, and could cash out in gold or US dollars. The digital currency had the same value as the gold backing it. E-gold ran from '96 to '09 when the government shut it down, fined the company $3.7million, and confiscated 2.8 tons of gold (some of the currency holders were able to get their money back earlier this year). The owners pleaded guilty to avoid jail, but got a smorgasbord of other punishments including felony records, personal fines, monitored home detention, community service, etc.. The judge said they deserved lenient sentences because they didn't intend on engaging in illegal activity (news flash – some currency holders will use the money for bad things). Liberty Dollar ran from '98 to '09 when the government shut it down and seized 5 tons of gold and silver. The owner pleaded not guilty, was convicted in 2011 and is awaiting sentencing facing 20 years in jail. The prosecuting attorney described the Liberty Dollar as "a unique form of domestic terrorism" that is trying "to undermine the legitimate currency of this country"
I see E-gold as the near perfect currency. It took gold, which is nature's perfect store of wealth, and solved its short comings as a currency by making it digital. That solved the problems of counterfeiting (might fake a gold coin but you can't fake digital when the server knows where all the currency is), transferability (it's a pain to physically move gold), and divisibility (you can't make change with gold coins). The problem was that it was in plain sight for the government to shut down and steal the gold. Bitcoin's response was to make something that was completely intangible (nothing for the government to steal), decentralized (no company or server for the government to shut down [the computing is done by thousands of computers across many countries]), anonymous (relatively), but otherwise the currency was made to mimic what gold is like in the real world. Like with gold, there are a finite number of bitcoins (21,000,000) that are “mined” into existence. There are roughly 10,000,000 now in circulation with the maximum number to be reached in the year 2140. Mining is the term used for people who use their computers to process the enormous ledger that keeps track of all of the bitcoins. Those “miners” earn bitcoins from the system as it slowly releases the steady set rate of bitcoins into circulation, and from people who choose to donate a small amount to complete transactions (transactions are otherwise free). You can transfer fractions of a bitcoin. Each one is divisible down to .00000001 bitcoin.
Back to the analogy – It is one thing to claim one the 1ee77 safety deposit boxes (addresses) and its contents in theory, but it is another to actually use it to make transactions out of it. There are a number of programs that help you do this. You can either download a program onto your computer which you link your address(es) and key(s) to, or you can do it through a web based program. I believe the best way is online with blockchain.info. Of course there are issues with security (as with anything internet related) but there are methods to protect your money which I won't go into here. Speaking of blockchain.info, “blockchain” is the term for the complete ledger that keeps track of all the bitcoins in circulation. That blockchain is being solved continuously by thousands of computers worldwide. Ten times per hour, the work of those computers is compared to make sure there are no mistakes or fraud, and the blockchain is finalized every 6 minutes. That ledger is public and easily searched. It is kind of fun to go to blockchain.info and search an address of a person you know (it likely isn't that person's only address). For example, Stefan Molyneux (he's a minor celebrity in the anarchist world) has a youtube podcast channel and accepts donations at the address 1Fd8RuZqJNG4v56rPD1v6rgYptwnHeJRWs. If you search that address you can see the transactions and that there are about $300,000 worth of bitcoin in it.
To acquire bitcoins, you either become a miner (but that has become specialized and futile for most part unless you have fancy hardware) or someone with bitcoins transfers them to you (the way you get US $ [unless you do “quantitative easing” on your own with a color Xerox machine]). Since your employer probably doesn't pay in bitcoin, some ways of getting them would be to find someone local to trade with (craigslist, localbitcoin.com), ebay, or (the easist way) through a bitcoin exchange (coinbase.com is the best one for US citizens).
Now lets compare bitcoin to other methods of payment. The following is made with the assumption that bitcoin aps on smartphones are being used and that a payment of 1000 US dollars is made. -With paper check, it takes about a minute in person, a few days by mail, takes about a week to clear the bank, and is usually free for both parties (good luck with international payments). -A wire transfer usually take an hour of leg work for the average Joe to complete, is cleared very quick, and cost between $25-$50 for domestic and international. -Credit card requires special hardware for the receiver, takes a couple seconds to complete in person (a few minutes online), takes 1 or 2 days to clear the bank, and cost the receiver $20-$30 for a $1000 transfer. -Bitcoin takes about 10 seconds to complete (whether in person or across the world). Payment notification is instant, it takes 6-12 minutes to be “cleared” (finalized in the blockchain), and is free (unless you choose to donate a little to the miners).
Bitcoins started out worthless, are now worth about $850 each, and no one knows what they will be worth in the future. If a fundamental flaw is discovered, they will go back to worthless. If bitcoins become widely used and accepted, the value will greatly increase. The value is mainly dependent on how many people use it to save and/or transfer money. For purposes of comparison, lets look at the market cap (capacity [ie. total value of all of it]) of a few different things in trillions US $.
Bitcoin ------------------------------------------------------------------- .008 trillion Apple stock ---------------------------------------------------------------- .47 trillion Gold ------------------------------------------------------------------------ 8 trillion US$ M1 supply (monetary base) ------------------------------------------- 2 trillion US$ M2 supply (includes full value of checking, savings, cd accounts) ------ 10 trillion Worldwide M2 money supply ------------------------------------------ Around 50-60 trillion
IF bitcoin became ubiquitous worldwide and accounted for 1/5 of all currency and had a market cap of 10 trillion, that would make each bitcoin worth $1,000,000 each. I think the odds of that are very slim, but who knows?
submitted by _________lol________ to BitcoinSerious [link] [comments]

Bitcoin's Value $10,000 or Over $1 million Experts Predict The Bitcoin Revolution  Stefan Molyneux from Freedomain ... Stefan Molyneux - Best of - The Psychology of Money and Value The Potential of Bitcoin ( by Stefan Molyneux ) Bitcoin: The real value remains in the network

Stefan Molyneux and Luke Rudkowski Bitcoin, Internet Freedom and Liberation The nature of BitCoin is that it is the world's first "decentralized IPO". What this means is that anyone who has any BitCoin is a shareholder in the network and has a vested interest in protecting it, whether by prefering BitCoin or by actively coding new features or Other Bitcoin sites. Bitcoin Forum Bitcoin Stack Exchange Bitcoin Magazine. Download Bitcoin Core. Bitcoin Core is the backbone of the Bitcoin network. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. Is bitcoin a bubble? Does gold have an intrinsic value? Is bitcoin a ponzi or pyramid scheme? Peter Schiff thinks so. Stefan Molyneux and Peter Schiff discuss Bitcoin vs. Gold and the future of money. Molyneux has received approximately 690 Bitcoins, as you can see here. With today’s Bitcoin value, that is approximately $6.3 million. Molyneux’s fortune is probably much larger, since most donations likely come in through PayPal. On his donation page, you can see that he is setup to receive one-time and recurring donations, up to $100 per Fans have donated 300 BCH (~$60,000) after Stefan Molyneux was banned from YouTube. ( Decrypt ) U.K.’s financial watchdog estimates 3.86% of the nation owns cryptocurrencies.

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Bitcoin's Value $10,000 or Over $1 million Experts Predict

BitCoin price $10.000 - Venture capitalist Tim Draper predic 10000 USD to 1 BTC Bitcoin is one the most important inventions since the internet. It has been proven the best performing currency in ... This video is unavailable. Watch Queue Queue. Watch Queue Queue While getting over $100k in bitcoin, dash, bitcoin cash, and ethereum donations this week, the alt-right activist has also joined the Lbry platform. On June 29, Molyneux was banned from Youtube. Stefan Molyneux predicts Blockstream takeover of Bitcoin - Duration: 2:03. Crypto Me! 5,274 views. 2:03. Bitcoin Halving 2020: History & Price Prediction (A Simple Explanation) - Duration: 12:33. Bitcoin is clearly the most exciting Internet protocol today. ... Stefan Molyneux - Best of - The Psychology of Money and Value Texas Bitcoin Conference. ... Stefan Molyneux Host of Freedomain Radio

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