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[#] Sat Dec 12 2020 16:28:47 EST from IGnatius T Foobar

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Company Purchases 10,000 Bitcoin Miners, Machines Will Max Out 100
Megawatt Facility

It's kind of funny that they've put together this massive compute farm to generate a piece of data that only has value because someone says it does (which is essentially the very definition of a fiat currency) ... and they don't feel the need to defend this fact, the only thing they're defending is that they're working hard to power the data center with renewable energy.

Didn't the government originally try to snuff out Bitcoin using existing counterfeiting laws? What ever became of that?

[#] Sat Dec 19 2020 11:04:40 EST from Nurb432

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While possible its doubtful. You dont store any 'keys' on those devices. Just a destination wallet address. Without a key, you cant get anything back out. Worst case they could steal a bit a mining power, but you would see that in your network traffic. 

Besides, no one leaves their coins in the same wallet they mine into if they have any brains.

 

Thu Dec 10 2020 14:45:19 EST from zooer

Those are Chinese made mining computers.  Could the Chinese have a backdoor built into the hardware so that the Chinese can grab all the coins when they are ready to?



 



[#] Sat Dec 19 2020 11:09:00 EST from Nurb432

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I think it was more the angle of "we cant track/tax it so its only use is to launder money", not counterfeit.  Ironically, its brain dead easy to track transactions as that is the entire point of the block chain. But they figure if you feed FUD to citizens enough: "Remember its for the children" 

They gave up banning it, now they are working to regulate it, at the point if entry/exit into fiat. ( the exchanges )

 

Sat Dec 12 2020 16:28:47 ESTfrom IGnatius T Foobar

Didn't the government originally try to snuff out Bitcoin using existing counterfeiting laws? What ever became of that?

 



[#] Thu Jan 07 2021 12:30:55 EST from zooer

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Bitcoin has doubled its previous all-time high.  Most Cyrptos are doing well.

 

 

 

 



[#] Thu Jan 07 2021 14:32:33 EST from nonservator

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ZCash looks slightly promising.



[#] Thu Jan 07 2021 16:18:07 EST from darknetuser

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2021-01-07 14:32 from nonservator
ZCash looks slightly promising.



Why is so?

[#] Thu Jan 07 2021 18:35:20 EST from Nurb432

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xrp, not so much :) 

Thu Jan 07 2021 12:30:55 EST from zooer

Bitcoin has doubled its previous all-time high.  Most Cyrptos are doing well.

 

 

 

 



 



[#] Fri Jan 08 2021 06:44:06 EST from nonservator

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A friend has been advocating for ZCash. Here's part of his spiel.

 

I. ZCash, what?
 
ZCash is a cryptocurrency with exactly one feature that makes it distinct from Bitcoin. This feature is the option of conducting a totally private transaction.
 
Specifically, the value here is that [one user can conduct a totally private transaction with another user, without fear of a third party knowing the details, or fear that the total supply of ZCash has inflated beyond the 21M coin limit].
 
Most "new innovations" are structured as applications with a fun or entertaining new feature. I don't think we need new applications. I think we need an economy that isn't gay. Fixed supply currency and private transactions between consenting parties combine to make this possible.
 


II. ZCash, why? [this is more general cryptocurrency stuff]

Prices go up every year. It's like clockwork. In the course of our lifetimes we have seen the cost of goods rise.

It's not just the price. Little ripoffs are hidden in everything. Packaging gets smaller. Taxes are raised. Quality drops. If you're really unlucky, businesses in your area have maintained a flat level of output, but reported "shareholder equity growth" by reducing the number of jobs offered.

You don't need to be political to look at the facts. Every government prints money from thin air. This is not the only reason for the steady decline in quality of life, but it is a big one. Americans now have 20% more dollars circulating in the economy. What will this do to prices in the future?

Even if you're making it in this economy, each of your transactions is recorded by your bank. Additionally, most of your transactions are documented by a vendor. You are constantly being profiled, screened, examined, and evaluated for each of your purchases. The practice of normal untraceable cash purchases has been supplanted by a digital economy where liquid fiat is monitored with each movement.

We've seen a lot of security disasters in this decade. A quick visit to haveibeenpwned.com exposes a staggering volume of commercial errors that leave customers with no restitution. Public relations has moved the 2015 Experian Hack to the forefront of human consciousness, concealing the larger 2017 Equifax hack. The US Treasury was just hacked, and we're in a position of expecting an inconclusive investigation.

When our medical histories, sexual preferences, policital leanings, estate plans, and credit history are broadcast to the world's merchants, do we have any reason to believe they will help society invest in cybersecurity? Or will they just take the opportunity to pad their extensive profiles of us?



[#] Fri Jan 08 2021 08:20:54 EST from Nurb432

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Personally, for true anonymity i stick with XMR. its more established than Zcash i do believe. 

But its a preference. There are far too many competing coins out there now. Fractured markets, and speculators have ruined many of them. Now they are no longer useful for their true intent of 'secure digital micro-payments'.