They can completely eliminate it's value simply by refusing to transmit transaction data.
They completely control whether or not BTC has value at all.
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They can completely eliminate it's value simply by refusing to transmit transaction data.
They completely control whether or not BTC has value at all.
This means that you didn’t read a single line on how the Bitcoin functions. You’ve wrote a complete and centralized fantasy, @valued-customer, because it is not possible in a decentralized system.
Data is data. It doesn't matter how BTC functions. If data containing BTC transactions cannot be transmitted, BTC has no value.
Edit: also, BlackRock is majority owner of 80% of BTC miners. Welcome to the jungle.
Why you don’t want to know how data is distributed? Why do you stick to a stupid prejudice instead of just looking how the system works? It’s open. Are you lazy or you chose your side against Bitcoin?
The thing you insist on IS NOT POSSIBLE.
The claim that data on networks isn't completely and totally controlled by network owners is based on what? Do I need to provide some link to examples of physical infrastructure being utterly and completely permissioned? All data on physical networks can only pass by permission of the network owners. It is not possible to infiltrate data onto a physical network the owners of that network exclude (without physical access to the network), because they can physically force the data into filters that exclude any data they do not want on their network.
How do you not understand this?
How long will you insist on your ignorance, @valued-customer? What you are saying can be applied to centralized networks only. Bitcoin don’t need any permission because it is DECENTRALIZED. Do you even know what that mean? Why don’t you want to know?
Please get yourself educated, or you will sound ridiculous with your public statements to anyone who knows.
I don’t have any more time for this kind of nonsense.
BTC is DATA. It isn't transmitted by magic fairy dust, but as 1's and 0's controlled by network operators who own the physical networks BTC cannot exist without, or at least as a currency.
I am surprised at your ignorance. I am deeply saddened at your inability to converse rationally, and note that your irrational rage suggests cognitive dissonance you are not only unable to overcome, but to even acknowledge.
Take the “Mastering Bitcoin’ book by Andreas M. Antonopoulos and learn how the system works. Don’t quote some obscure ‘public knowledge’. You sound completely ridiculous in your conviction that you know something. And insisting in your ignorance is really tragic.
This is complete rubbish – all statements are false. You don’t know what you are talking about, but you insist on your ignorance. Just try to write a text with your ‘discoveries’ and see what happens.
I have 'discovered' nothing. Not one thing I have said on this topic is my own invention, but is public knowledge.
The BTC miners use specialized daughter boards in racks of servers to calculate the hashes necessary to solve the Proof of Work mathematical problems that produce BTC when solved. This data, like all digital information, is transmitted on physical networks as binary computer code. When the owners of the BTC 'mined' in this way decide to execute a transaction, that communication with servers others own and operate is conducted by transmitting binary code on physical networks owned by various corporations, known as the internet. Today, BlackRock, StateStreet, and Vanguard own a controlling interest in ~90% of stock corporations in the world, including 80% of the BTC mining corporations. When people purchase BTC, they do not purchase some part of the internet, but only the cryptographic hash representing the BTC they have purchased. In order to transact with that BTC, the information contained in that cryptographic hash must be transmitted to a vendor over the internet. Censorship can prevent such information from reaching it's destination, and is commonly practiced on more and more platforms, such as social media websites, on the internet. Companies like cloudflare and ISPs are today preventing data from reaching destinations like websites they do not approve of by means of filtering that data by specific information it contains, such as the URL of a 'banned' website. BTC transactions necessarily contain a hash of the value of the BTC in the transaction, and wallet addresses it is coming from, and going to, all of which can similarly be filtered by network owners and censored.
There's a text based on the factual reality of BTC. What specific part of that information isn't accurate and true?
Nothing is accurate. You fell for a complete fake. Bitcoin is NOT on Internet. It is a parallel decentralized network that can’t be controlled. You don’t even need Internet for transactions. You ignorance is so great I feel really sorry for you @valued-customer.
You don't have access to any such network you own. All your connections and data is transmitted to you over someone elses wires, for which you (or someone) pays to allow you access. All your BTC communications take place over the internet - or you're someone I need to listen to a lot more closely.
That decentralized network BTC has is software. It's data transmitted on someone else's physical wires. You don't have a dedicated wire you own for transmitting BTC data, and neither do the folks you transmit and receive BTC data with. You have the internet connection you are using to access Hive right now, and that's the connection you use for BTC.
Look at the connection to your computer. There is no separate physical wire for BTC. Look at your network connections in your PC software. There is no separate network device for BTC. You use the same network card for BTC transactions you use for the internet, because you use the internet for BTC transactions.
You haven’t heard of lochamesh either. Listen, you can insist on your prejudice as much as you like @valued-customer. I can only help to those who want to know the truth. Good luck to you.