• Pat Flood (@rebarcock) passed away 9/21/25. Pat played a huge role in encouraging the devolopmemt of this site and donated the very first dollar to get it started. Check the thread at the top of the board for the obituary and please feel free to pay your respects there. I am going to get all the content from that thread over to his family so they can see how many people really cared for Pat outside of what they ever knew. Pat loved to tell stories and always wanted everyone else to tell stories. I think a great way we can honor Pat is to tell a story in his thread (also pinned at the top of the board).

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JordanPetersHorn said:
Because the basis is mathematical and finite. It’s a more stable supply and solid basis than gold because we don’t know if more gold could come down from an asteroid and absolutely ruin the gold economy. There’s no away to alter the chain so in that way it is permanent and has basis.
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What was the original input value into the algorithm? The basis. You keep saying the basis is mathematical and finite. Based on what? An algorithm has to have an input to trigger it. What was it?
 
JordanPetersHorn said:
Sure, but the trade off long term will be the waste and fraud that Bitcoin eliminates from stores of value that can be tampered with
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That's the thing tho is we both know that bitcoin won't be the internationally accepted crypto and will likely be even more regulated than current store of values.

An honest convo on cryptos would have to assume government issued cryptos as the basis of crypto currencies on a daily / economic basis IMO.

Governments aren't going to give up their ability to control their currency. It's just not logical or the basis of functioning economies.
 
Jayhox said:
What was the original input value into the algorithm? The basis. You keep saying the basis is mathematical and finite. Based on what? An algorithm has to have an input to trigger it. What was it?
Click to expand...
And you chided me for going into the weeds.

cryptographic principles that essentially boil down to the fact that a transaction is verified through validating or confirming this chain, which is a dsteicuted set of codes and numbers that are the same for EVERYONE. You can’t go in and tamper with it at an individual level without it being spotted.
 
America 1st said:
That's the thing tho is we both know that bitcoin won't be the internationally accepted crypto and will likely be even more regulated than current store of values.

An honest convo on cryptos would have to assume government issued cryptos as the basis of crypto currencies on a daily / economic basis IMO.

Governments aren't going to give up their ability to control their currency. It's just not logical or the basis of functioning economies.
Click to expand...
We both don’t know that. Tell me any other coin that’s catching on faster? If you wanna bet on the deep state being the innovators here to corner the coin market than god bless, but I’ve worked with those people before and they are nowhere near the political will to do that.
 
JordanPetersHorn said:
And you chided me for going into the weeds.

cryptographic principles that essentially boil down to the fact that a transaction is verified through validating or confirming this chain, which is a dsteicuted set of codes and numbers that are the same for EVERYONE. You can’t go in and tamper with it at an individual level without it being spotted.
Click to expand...
I’ll ask a different way. Who set the price for the original Bitcoin offering? And how did they pick that price?
 
JordanPetersHorn said:
We both don’t know that. Tell me any other coin that’s catching on faster? If you wanna bet on the deep state being the innovators here to corner the coin market than god bless, but I’ve worked with those people before and they are nowhere near the political will to do that.
Click to expand...
The coin catching on thing is part of how they want this to go.

They're simply locking capital into cryptos and will give you only one exit ramp (to exchange that for their crypto .

The more people that jump into crypto = more of an excuse for them to push their own crypto and to regulate it.

Banks and countries are winning on both sides of this process by locking more capital into their control and less capital away from the working class. The ability to buy, sell, and trade bitcoin can be taken away from the majority with the flick of a pen in this country and many others without causing a collapse of the economy (by simply having another crypto as the 'off ramp').

95% of people will unload rather than try to stick it out. Most people can't afford a near total loss like that.
 
JordanPetersHorn said:
Wrong completely. It is finite already you can’t create any more bitcoin

You’re utilizing a really simplistic understanding of it. There’s tons of legitimate problems that @America 1st brought up as far as the governmental risks to it are concerned, but those two concerns you’re having arent some of them. And it is tangible in that it’s the same line of code for everyone in the world and very obvious for me and everyone else with the ledger to go “okay something fucky happened here”. It’s not like I can just go to Google and print out more coins from the internet
Click to expand...

Actually you’re incorrect. Bitcoin is still being mined (produced) and is not yet finite. It is expected to be capped at 21 million coins (I think) and the last one won’t be circulating until 2140...

Bitcoin
 
Jayhox said:
I’ll ask a different way. Who set the price for the original Bitcoin offering? And how did they pick that price?
Click to expand...
Im not sure what you’re talking about here

I understand you’re saying the premise is false because it’s ultimately digital but you’ve ignored my answer 3 times that it’s an accepted set of cryptographic protocols. The dollar if you break it down is really a set of protocols in the same way. The physical paper of the bill isn’t significant, it’s the set of agreements and procedures it activates
 
Overwatch said:
Actually you’re incorrect. Bitcoin is still being mined (produced) and is not yet finite. It is expected to be capped at 21 million coins (I think) and the last one won’t be circulating until 2140...

Bitcoin
Click to expand...
Your use of the word produced is wrong here


Yes they’re mining a finite supply that has a natural cap. There’s no guy that sits at the controls and says “YEP THATS ENOUGH BITCOIN SHUT HER DOWN”, the protocol exists and his has its limitations
 
Who set the price for gold when it was 1st seen as valuable. Gotta start somewhere.

Also - for the comment on energy use to mine coins - how much energy is used to mine gold?

I state these not fully buying into Bitcoin because I don’t fully understand it yet.
 
Analeengus said:
Why are you all spending pages arguing about bitcoin? Agree to disagree, buy it if you want, choose not to buy it if you want. If you want to argue about it, start a crypto thread. We should be discussing Trump’s speech.
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Because it’s ur only salvation against the financial arm of the deep state and Trump isn’t going to say anything that makes any difference today, the die is cast
 
Trump is on fire per usual. I’m surprised fox is covering him as well I prefer watching the right side broadcasting network

He just said Biden has proven to be the worst president it is first month in the history of American presidency. He has proven to be anti-American anti-family , Anti-jobs, anti-energy, Anti-borders anti-women and anti-science!

in one short month we have gone from America first to America last. Trump is right and on fire the link is below

I wasn’t sure but I’m not going to count him out now in four years having seen him today and watching him right now
 
JordanPetersHorn said:
Your use of the word produced is wrong here


Yes they’re mining a finite supply that has a natural cap. There’s no guy that sits at the controls and says “YEP THATS ENOUGH BITCOIN SHUT HER DOWN”, the protocol exists and his has its limitations
Click to expand...

Did you even read the link I posted? The protocol is the guy sitting there saying shut her down (at 21 million). And it’s not going to happen until 2140, when the last coin is expected to enter circulation.

And if mining new bitcoins isn’t “producing” new coins then what would you call it lol?
 
Overwatch said:
Did you even read the link I posted? The protocol is the guy sitting there saying shut her down (at 21 million). And it’s not going to happen until 2140, when the last coin is expected to enter circulation.

And if mining new bitcoins isn’t “producing” new coins then what would you call it lol?
Click to expand...
Exactly The protocol determines that which means there is a finite end and it’s not able to be tampered with

So like we will mine more sure, but the total that exists is the total that exists
 

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