Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Johnny Niamert wrote:
To me, paper money is worthless, so why not...
mick mclaughlin wrote:Ok I will ask the dumb question, what makes bitcoin etc.. more valuable/ stable then good ol dollar bills?
...
I do not like the fed, and everything behind the US dollar, but I don't understand the benefits of the other forms, either. I mean, ain't ya still giving someone else power over yours?
Dale Hodgins wrote:Oh good !!! I have a nice little shipping box that I would like to fill with spices and then send to you. It will come with prepaid return postage. Take out the spices and load the box with all of your worthless money. These are really nice spices that I'm sure have some value, so you'll be ahead of the game.
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http://www.cloud9farms.com/ - Southern Colorado - Zone 5 (-19*f) - 5300ft elevation - 12in rainfall plus irrigation rights
Dairy cows, "hair" sheep, Kune Kune pigs, chickens, guineas and turkeys
Dale Hodgins wrote:
Johnny Niamert wrote:
To me, paper money is worthless, so why not...
Oh good !!! I have a nice little shipping box that I would like to fill with spices and then send to you. It will come with prepaid return postage. Take out the spices and load the box with all of your worthless money. These are really nice spices that I'm sure have some value, so you'll be ahead of the game.![]()
http://www.cloud9farms.com/ - Southern Colorado - Zone 5 (-19*f) - 5300ft elevation - 12in rainfall plus irrigation rights
Dairy cows, "hair" sheep, Kune Kune pigs, chickens, guineas and turkeys
Outdoor and Ecological articles (sporadic Mondays) at http://blog.dxlogan.com/ and my main site is found at http://www.dxlogan.com/
Kelly Smith wrote:can anyone tell me the hash used in the bitcoin encryption algorithm?
as i understand the bitcoin is encrypted with a SHA-2 (SHA-256), which was developed by the NSA,(reference) thus leading my to not trust the bitcoin block change. [i assume there is a backdoor in anything NSA developed]
who created bitcoin? why isnt he available to answer questions about its structure?
as you can see, i am skeptical by nature. i dont trust money that springs up from essentially nowhere. i do not see the value in it.
bitcoin can be anonymous, but isnt so by default. if you know what you are doing you can transact anonymous, but for the most part, the transactions are traceable. (as i understand it)
i fear if we move to a digital currency what we will get is a system that can track [thus tax] every transaction.
i will stick to gold/silver/energy/necessities as things of value. at a minimum they are things that cant be printed/created out of air.
http://www.cloud9farms.com/ - Southern Colorado - Zone 5 (-19*f) - 5300ft elevation - 12in rainfall plus irrigation rights
Dairy cows, "hair" sheep, Kune Kune pigs, chickens, guineas and turkeys
"You must be the change you want to see in the world." "First they ignore you, then they laugh at you, then they fight you, then you win." --Mahatma Gandhi
"Preach the Gospel always, and if necessary, use words." --Francis of Assisi.
"Family farms work when the whole family works the farm." -- Adam Klaus
R Scott wrote:There is something profound about the fact an open source digital code has as much trust than government backed currency.
Johnny Niamert wrote:I think a big factor to the debate, which one may indirectly but not directly reveal, is what their personal outlook on the future is.
http://www.cloud9farms.com/ - Southern Colorado - Zone 5 (-19*f) - 5300ft elevation - 12in rainfall plus irrigation rights
Dairy cows, "hair" sheep, Kune Kune pigs, chickens, guineas and turkeys
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Check out the journey on creating a forest garden and living in an urban homestead at My Ky Homestead it's a work in progress.
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Joe's Garden Journal Blog
wholeviewfarm.blogspot.com
Andy Reed wrote:Steer clear of crypto currencies. They are a fad, nothing more. Only useful if you want to launder money or conduct illegal activities. Even worse then stocks or bonds as a speculative asset because they have no income stream, just the concept of a greater fool willing to pay more to buy it off you later. If you plant a few fruit trees they will yield for many years, or you can sell the fruit to buy things you want.
There have been a couple of bitcoin dealers that have taken client money or had it stolen, and there is no protection for those that lost money, silk road, sheep marketplace and Mt Gox have all seen owners of bitcoin lose all of them. Considering the brief time period involved it's a pretty bad investment.
Far better to take pleasure from things that are real, like a garden, some animals, some trees, land etc. These things can be used as money in a pinch or produce things you can exchange for money.
I can't understand why crypto currencies are so popular, same goes for stocks, especially stocks of companies that have yet to make a profit. Not rational at all.
I hold a bit of silver, but it is the second most useful commodity in the world after oil, and just its antibacterial properties alone mean it will always have value, at least to me.
Josef Theisen wrote: Let's face it, people have consistantly failed to manage monetary systems fairly. No we have the option to play this game with open source software managing the rules instead of corrupt bureaucrats. We can trade without gatekeepers skimming off of the flow. Bankers may have just become obsolete, and that almost sounds like real progress.
France Zone 7a 1025mm rain, 1900 sunshine hours.
Josef Theisen wrote:You bring up some interesting points. My understanding is that it is easier for law enforcement to do targeted surveillance, but more difficult to do ubiquitous surveillance. Right now, in order to send money anywhere, we rely on a system of verification based on our identity. This leads to situations where a store is now responsible for storing personal information; name, address, social security number, ect. This is a burden to the store, and allows hackers or government to track us across multiple platforms fairly easily. With this amazing new invention of digital trust, we can now do transactions using only anonymous account numbers.
Now if law enforcement gets an account number during an investigation, they can follow that money through the blockchain (and so can we). They can do it from any computer on the net and do so without a warrant. This is a huge improvement from having to get warrants to search records at perhaps dozens of different institutions and study them. This could save quite a bit of manpower on such an investigation. However, since there is no easy way to associate an account number with a person, and no way to know if money is being sent to yourself or someone else, attempts to decode the entire blockchain get confused pretty quickly. The blockchain is an ocean of data, unless you have a specific target, forget about it.
The transactions are not encrypted at all, they are actually published publically. The encryption protects the network form attack, in order to break it you would need more computing power than the entire network. Right now bitcoin has a 10 petahash network working off over 100,000 computer systems all over the world. That is more computing power than the worlds best 600 supercomputers combined, and is far more power than any government on earth currently possesses. Since there is an economic incentive to mine, greed will keep it this way. Even if someone managed to get enough juice to corrupt the network, they could profit from using it to secure the network instead. It would be like killing the goose that lays golden eggs.
Not sure about the interest rates and all that, but I am convinced that QE 1, 2, & 3 are going to devalue the dollar massively as those trillions of dollars work their way out of the derivatives market and into the economy of real goods and services.
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