A coin is inherently an indivisible agreed upon amount of value. A thousand dollar BITcoin is about 9 to 11 percent of a the standardized mining reward unit, a BITcoin has no fixed value except to hardware manufacturers.
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This is insightful. I see where you are coming from with that. The value assigned is basically whatever people are willing to pay for it. The trend tends to be upward and people get caught up in that. At the end of the day it is big business to those fully entrenched (aka hardware manufacturers).
Im really glad you can see the implications, they seem to be lost on most users here. I really think that this whole industry is clever solution to hardware overproduction worldwide, rather than limiting prices or production, hardware manufacturers decided to create demand by creating massive projects scaled to provide artificial demand over as long of a period as possible.
It is not hard to see why government agencies would have an interest in keeping the world demand for computers insatiable seeing that they have invested trillions of dollars in being able to access computers on their network, not to mention the taxes they should stand to loose if they cracked down.
The mass adoption of BITcoin also limits the potential of individual inventors to create new types of more powerful networks by centralizing incentive to the physical internet. To think that the way we now transfer information is superior is naive. I envision a future where true decentralization proliferates and blockchains are viewed of like central banks are today (creating worthless fiat).
The core ideas of BITcoin are not new, these ideas have just now been finally sanctioned during the last decade. While digital money and fiat has always been rejected by educated consumers, they will soon react now knowing the rules have changed and this once stigmatized behavior is now acceptable.
https://steemit.com/bitcoin/@clearshado/bitcoin-the-cia-and-the-mit-connection
In the past people used to do this to coins when access to banks and mints were limited, in a way we are now returning to this situation, the only difference is we are actually splitting fiat currency not silver.
I tried to split a quarter once, an It just kept getting stuck in the vending machine.
haha way to fight capitalism by fucking up vending machines.
Try pennies next time. Certain types of machines are easy. If you can send a penny (or anything else for that matter) into the slot fast enough it can skip over the section that drops smaller coins. SWIM says from lots of childhood experience that arcade style coin mechanisms tend to be the best for this method.
Thanks for safe-guarding crypto-bifrost. I can see that I have much more work ahead of me now!
I appreciate the crypto-space and the fact that there is a free market. Where there is power (and power and wealth tend to move together) there ends up tyranny. The decentralization (in theory) removes tyranny. Where there is tyranny, the free market can liberate, as we don't need Bitcoin... Bitcoin is meant to be an instrument of liberation from tyranny... If tyranny arises within Bitcoin... there are other instruments of liberation available.
What we need is to know our place within the space... and that is why I thanked you. You helped me cross the bridge to see mine.