Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying? You can't charge rent on something you've already sold. That's not how business works. That's how the State works.
"Which is better - to be ruled by one tyrant three thousand miles away or by three thousand tyrants one mile away?" ~ Mather Byles
I dunno, Mather. Looks like the same shitty deal to me.
"Which is better - to be ruled by one tyrant three thousand miles away or by three thousand tyrants one mile away?" ~ Mather Byles
I dunno, Mather. Looks like the same shitty deal to me.
How can you possibly equate buying bitcoin with buying block space
How's that supposed to work? How many "blockspace" do I get for 1 bitcoin?
Easy. 1/21,000,000th of the whole chain. I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying?
You are buying space on the ledger, not the block. You need to pay to move these bitcoins to a different address on the ledger.
So for 1 bitcoin I get 1/21,000,000th of the whole chain? Are you for real? Were you hit over the head with something?
Nope. I get one twentyone millionth of the whole damn chain. 4 eva. If you think that's too much, then perhaps you are selling your coins too cheaply.
Confusing the ledger composed of bitcoins with the chain... now that is something else!
Guys it looks like we had it wrong all along! We're not actually buying bitcoins! We're buying parts of the blockchain!
Do you have any concept of what "the chain" is? Imma let you in on a killer deal: if you decide to run a full node, you will not only get 1/21,000,000th of the whole chain, you'll get ALL OF IT without having to spend a dime. Now isn't this AWESOME?
If you're not gonna answer my question, then it is fair to assume you don't have an answer.