Goldtent TA Paradise

Something’s Up

1. Chartsmaster says:

   January 5, 2025 - 7:41 am at 7:41 am

   Quote from a different piece by the same author, indirectly related to topic above. “What will matter is that one Bitcoin transaction is equivalent to about a month of electricity for the average US household. As Bitcoin grows, energy “consumption” grows exponentially.”
   – Wendy Williamson Given the huge electricity needs of AI data centers, they should be required to provide their own unconnected power by either natural gas, hydro(where available), hydrogen, even mini nuclear. They shouldn’t be allowed to connect to the grid and drain needed electricity from citizens and local old line businesses.

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   • pedro_deleon says:

     January 5, 2025 - 8:36 am at 8:36 am

     Absolutely concur on those conditions.

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2. silverboom says:

   January 5, 2025 - 7:57 am at 7:57 am

   Methinks she asks the right questions. From what I’ve read over the last month, Wendy is more likely right than wrong: we’ve been had again. It’s gonna be business as usual with a different cover story. Best example of ongoing stupidity: both Trump and Biden blocking the sale of US Steel. Glad I have something to believe in well beyond the shenanigans of the looters.

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   • pedro_deleon says:

     January 5, 2025 - 8:46 am at 8:46 am

     When talking about government, it always boils down to degrees of stupidity (corruption, malfeasance). Checks and balances are insufficient because its always still factions within the 1% who are calling the shots. The only answer IMO is representation by lottery.

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3. Fullgoldcrown says:

   January 5, 2025 - 9:08 am at 9:08 am

   Playing Devil’s Advocate

   Bitcoin Phobia

   Tempest in a teapot ?

   For sure Bitcoin is not “real” in the sense it is not “physical”

   But so what…People all over the world want to have it to store their “wealth” and use it as Currency to “buy” stuff

   Money is whatever a vast number of people say it is ( Sea shells ? Exotic Minerals ? )

   The US Dollar is 95% not physical too

   Just 0s and 1s in a Monster Computer network that we access and “move around” with pieces of plastic

   The 5% in “Cash” ? Just pieces of paper

   If you offered these pieces of paper to one of those primitive tribes still around in the Amazon they would likeley burn them for fuel( cooking )

   My point is “Money” is whatever we say it is

   Even Gold as money is just a concept

   What is Gold ? A rare mineral found in minute quantities in Dirt

   They have to move Tons and Tons of dirt to find enough of this mineral to create a .999 % “coin”

   They literally dig it out of the ground then after purifying it…stick it back in a vault ( often under the ground)

   So if Most / ALL people believe Dollars and Euros and Yen and Bitcoin and Fartcoin are desirable and can be turned into everyday items they Need and Want… who are we to say… No they aren’t …they are just useless “digits”

   The History of money

   https://en.wikipedia.org/wiki/History_of_money

   snip

   There are at least two theories of what money is, and these can influence the interpretation of historical and archeological evidence of early monetary systems. The commodity theory of money (money of exchange) is preferred by those who wish to view money as a natural outgrowth of market activity.[20] Others view the credit theory of money (money of account) as more plausible and may posit a key role for the state in establishing money. The commodity theory is more widely held and much of this article is written from that point of view.[21] Overall, the different theories of money developed by economists largely focus on functions, use, and management of money.[17]

   Other theorists also note that the status of a particular form of money always depends on the status ascribed to it by individuals and by society.[22] For instance, gold may be seen as valuable in one society but not in another or that a bank note is merely a piece of paper until it is agreed that it has monetary value.[22]

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4. Chartsmaster says:

   January 5, 2025 - 9:14 am at 9:14 am

   Money has 3-4 clearly defined components. The ONLY thing that meets all of them is GOLD. That is why it has been used as money and survived for 5000 years. Bitcoin and others may meet one or two but they aren’t money. People can say it is, but that doesn’t make it so.

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   • Fullgoldcrown says:

     January 5, 2025 - 9:24 am at 9:24 am

     It can be argued that Bitcoin is MORE suitable for use as a Currency of Exchange ( aka Money ) than Dollars

     Bitcoin is RARE compared to Dollars

     There is a finite amount of Bitcoin but as we know the Supply of Dollars is Infinite

     Both are created out of Nothing but computer digits BUT Bitcoin has a widely known limit

     Again I believe Money is whatever people agree it is .

     If people stop believing Dollars are Money then the whole thing ends …But NO ONE benifits from that…so Dollars will endure

     Fully Disclosure…I do not understand Bitcoin and I do not like or “own” bitcoin …I choose to interact in Dollars ( Loonies actually ) because everybody I know accepts / wants them !

     Interesting discussion for sure …Make us think …challenge our core assumptions…

     Devils Advocate

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5. Banimal says:

   January 5, 2025 - 10:22 am at 10:22 am

   My comment on bitcoin is, prove to me they will never create more than 21 million. How is bitcoin created? Through computer code through mining. Who writes the computer code – programmers. So who’s to say they won’t change it oe be bribed to change it? There already was a change in the original bitcoin code regarding block size and that is why there is Bitcoin cash and the other Bitcoin now.

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   • Kewl2 says:

     January 5, 2025 - 10:48 am at 10:48 am

     BlackRock Warns: 21 Million Bitcoin Limit May Change

     The major BlackRock released a video this week explaining how Bitcoin works. However, the observant viewer also noticed a disclaimer: “There is no guarantee that the 21 million Bitcoin limit will never be changed.” That of course causes a stir within the community, because for many people that is the core of Bitcoin.

     In theory, BlackRock is right. The limit of 21 million Bitcoin is an agreement, and it can be adjusted. However, that would result in such a change in the protocol that there is a so-called hard fork.

     We speak of a hard fork if the computer code of Bitcoin changes in such a way that the existing software can no longer communicate with the new software.

     The question of whether you can change Bitcoin essentially depends on your definition of the digital currency.

     Ultimately, it’s all a storm in a teacup. BlackRock is of course not planning to adjust the hard limit of 21 million Bitcoin, but only gives the disclaimer that it is theoretically possible.

     https://newslite.tv/blackrock-warns-21-million-bitcoin-limit-may-change/

     NOTE: Why does this article “read” as if Blackrock owns the Bitcoin process and will make the final decision on whether to go past the 21 million limit?

     Bitcoin’s total circulating supply has surpassed 19.8 million coins, bringing it closer to its maximum supply cap of 21 million23. The hard cap on Bitcoin is critical to its value proposition as a currency and an investment tool1.

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6. Highroller says:

   January 5, 2025 - 12:32 pm at 12:32 pm

   It is too volatile to be a currency. Pick a wrong day of the week to get a Bitcoin mortgage and you would be up shit creek,

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7. Kewl2 says:

   January 5, 2025 - 2:42 pm at 2:42 pm

   The 2nd video in this article (Catherine Austin Fitts) is EXCEPTIONAL!!

   I found it very useful…………

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