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DrHenley

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My son got me interested in Bitcoin back when it was cheap. I wasn't interested in buying it, I was interested in mining it. So I got a Bitcoin wallet, and started looking into the mining software, machine requirements, etc.

What stopped me was that at the time, it was not certain how the IRS would view mining, and many people believed that the IRS would decide that you would need to be a licensed financial institution in order to legally mine Bitcoin. Or rather, to sell for cash any Bitcoins that you mined.

Well, in the meantime, it became MUCH more difficult to mine Bitcoins, and the computer that had the software and wallet on it died. I had the wallet backed up on a thumb drive. So recently I took out the thumb drive and tried to set up the wallet on a different computer. Well, none of the software I tried would recognize the backed up wallet. No big loss since I didn't have any Bitcoins in the wallet...but that kind of shook me. What if the wallet had not been empty???

Anyhow, I never was able to bring myself to take the plunge, either mining or buying.

Why?

That's a hard question to answer. The best answer I can come up with is:

40 years of IT experience

Now keep in mind that I have a broad spectrum of experience in IT, from tech support to system engineering to setting up a computer programming curriculum for a University. I am formally trained in six programming languages and self taught in four more.

I am about to give you a link to an article detailing what wrong with Etherium two years ago.

So when I tell you this article makes my head spin, it's not because I don't know programming. The programming part of the article is pretty plain actually, it's how they use it that confounds me.

So, buckle your seat belts boys and girls, you are about to dive headfirst into the nitty gritty details of how things went horribly wrong with Etherium two years ago. I don't expect you to understand everything, but keep reading and the gist of what happened should be evident, even if you aren't a programmer.

https://vessenes.com/deconstructing-thedao-attack-a-brief-code-tour/
 
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While I don't understand the code, I understand the jest of the article. If the bank was hacked or bank account on many banks we have some relief or total refund, with bitcoin I see no relief from bad programming or attacks. This is why I'm still on the fence, if someone can make an attack wallet than there are a major flaw with the whole bit coin concept. Exploiting bad coding has always been one of the weakest links (beside the users) in computing *cough microsoft cough*
 
The Hill

Biden to sign executive order on regulating, issuing cryptocurrency

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President Biden is reportedly set to sign an executive order on cryptocurrency this week that will direct several federal agencies to investigate and develop policies and regulations on digital currencies.

The order is likely to be signed Wednesday, according to Reuters, and would be the White House's first step toward regulating cryptocurrency.

It will reportedly outline what the federal agencies, including the Treasury, State and Commerce departments, need to do to develop regulations and policies on the cryptocurrency market, according to The Associated Press.

The order will ask the State Department to make sure that American cryptocurrency laws align with those of U.S. allies, the AP reported. It will also reportedly task the Financial Stability Oversight Council, which identifies risks to the country's financial stability, to investigate any financial concerns.

And it will request the Justice Department to look into whether a new law is needed to create a new currency, according to Reuters, with the Consumer Financial Protection Bureau and other agencies studying the consumer impact.

The order comes amid concerns over whether Russiacould use cryptocurrency to get around the crushing U.S. sanctions issued in response to its invasion of Ukraine.

"We will continue to look at how the sanctions work and evaluate whether or not there are liquid leakages and we have the possibility to address them," Treasury Secretary Janet Yellen said last week, according to the AP. "I often hear cryptocurrency mentioned and that is a channel to be watched."”


THEY ARE COMING FOR YOUR CRYPTO FOLKS.
 
I got out after it became clear the Davos brigade wanted a global digital currency. Can't have anything competing with THE global currency don't cha know?

SMART!!! Was always leery of it, but when the Davos snakes started talking it up, I knew the other bitcoins would be destroyed in short order.
 
Personally, I have always thought that digital money like Bitcoin is prefered by governments.

I believe they would've prefered if we all got wrapped up in it . They would like nothing better than to have money be something they can create without effort (and take away, and monitor).

I have been very suspicious watching these "coins" run up in value. It reminds me of the DOT com bubble when average people started playing in the stock market as the hype of online stores crushing "brick and mortar" was all the rage and endlessly promoted on every "news" program.

Many people lost substantial amounts of money, while those who were dialed-in made fortunes.

As long as governments can pass laws, digital money is not safe from government. If the internet goes down it will become very difficult to use them as well.
 
Tulip Mania. When tulip bulbs saw an enormous bubble in prices, greatly exceeding any intrinsic value of the tulip bulbs themselves.
At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled artisan.
And then "POOF!" it all collapsed.
 
Personally, I have always thought that digital money like Bitcoin is prefered by governments.

They will, for Total Control of what we are allowed to buy! They will crash all the other bitcoin first, or make it illegal. The NWO/WEF’s Plan is to force the entire population onto their controlled bitcoin.
 
They will, for Total Control of what we are allowed to buy! They will crash all the other bitcoin first, or make it illegal. The NWO/WEF’s Plan is to force the entire population onto their controlled bitcoin.

If this plan really works I predict a massive increase in bartering and the black market.
 
We have been rolling toward true fiat currency since Nixen took us off the Gold Standard, when we exchanged gold for black gold in Bretten woods II and pegged the USD to that. Now oil is under attack by the anti-oil brigade, as is the USD by allowing purchases of oil in other than USD (Rubbles).

They can no longer control the value of the USD, so "Must" switch to digital or the entire overspending ride the Congress has been on now for forty years will quickly come crashing down. IT is coming folks. Just a matter of time and declaration of an "emergency" of their own creation.
 
IT is coming folks. Just a matter of time and declaration of an "emergency" of their own creation.

For certain, unfortunately. Covid didn’t cause enough of the population to take the clotshot, But I think their current plan to starve billions will for far more. People quit their jobs to keep from taking the vax, how many are capable of growing and raising their own food? Any idea?
 
how many are capable of growing and raising their own food? Any idea?

Just a guess but, probably 5% of the population, given that 1% already list "farmer" as their full time occupation and another 4% live on/own enough rural land to produce or hunt enough to be self sufficient indefinitely...and that is if the banks don't take it. If the economy grinds to a halt, and people can't pay their bank loans, and go into foreclosure, that number probably is around 2%. I am hoping I am off on my guess
 
I don't see banks taking people's homes, cars, or anything, when the wheels fall off the wagon. Who will be going to work at a bank, when there is nothing in it, or there is no food at the store? People will be literally fighting for their lives. There will be so much chaos and crime, if there are any cops, they will be far too busy trying to protect and serve, to be putting people out of their homes. If the elites use cops as their henchmen, they will find people fighting back.
 
I don't see banks taking people's homes, cars, or anything, when the wheels fall off the wagon. Who will be going to work at a bank, when there is nothing in it, or there is no food at the store? People will be literally fighting for their lives. There will be so much chaos and crime, if there are any cops, they will be far too busy trying to protect and serve, to be putting people out of their homes. If the elites use cops as their henchmen, they will find people fighting back.

I think it is a question of how fast and how far it falls.

Banks and the Government took people's homes/farms in the great depression for failure to pay property taxes and mortgages.

Maybe people are paid at least in part, with food and repo'ed land is "preserved" so Biden can make his 30% of government conservancy of the country by his goal date of 2030 and then 50% by 2050?

The WEF has said "By 2030 you will own nothing and you will be happy". I assume nothing means vehicles and real estate as well.
 
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In case anyone wants to buy Bitcoin because it's down, I believe (but I don't know for a fact) that the appropos investment terminology is "Trying to catch a falling knife".

If you bought Bitcoin before December of 2020, good for you! You can still turn a profit. Or HODL and pray. (Hold on for dear life)
 

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