Aug 16, 02 / Aug 28, 18 17:32 UTC

How Can Bitcoin Grow When All Exchanges are Scams?  

The future of bitcoin is very bad if the us government is operating scam sites to rob the peoples money. Soo much effort in the usa to poison and damage the people

Bitcoin is great technology but in a world controlled by satan and his lunatic governments -freemason agents -there is no freedom.


THE PEOPLE NEED A NON CENTRALIZED EXCHANGE 

  Last edited by:  Mariya Kudryavtseva (Asgardian)  on Dec 4, 02 / Dec 6, 18 10:33 UTC, edited 2 times in total.

Nov 8, 02 / Nov 12, 18 20:41 UTC

In my opinion, the price is irrelevant, the technology will always be there and there's many more options than just bitcoin. But if you're looking for a more decentralized exchange, i'd lookup "crypto-bridge". 

Dec 10, 02 / Dec 12, 18 16:20 UTC

There is a lot of infrastructures to be built. 

More importantly than building a decentralized exchange is the fact that it needs to NOT operate through the US soil, systems, banks, credit unions, or money transfer systems. 


All of these things are monitored.

If you're a US citizen, then any "income" (as it's currently enforced and defined by the Internal Revenue System) you get from anywhere else on the planet, in any denomination is considered to be possibly taxable. 


Regardless of the monetary system chosen or worked, great care needs to be taken in protecting it legally from the abuses described by the OP, regardless of the country of origin perpetrating it.

I'm not advocating for illegal activities to be shielded, but simply that freedom of choice is protected. Since Asgardia is being built with the eventual goal of being self-sustaining independent of any other country, these things should be considered at the Architecture phase.


Dec 10, 02 / Dec 12, 18 17:57 UTC

A cube-sat with enough solar power to make crypto in space and then beam it down.

  Last edited by:  Dirk Baeyens (Asgardian)  on Dec 10, 02 / Dec 12, 18 17:57 UTC, edited 1 time in total.

Dec 19, 02 / Dec 21, 18 20:47 UTC

My understanding of Crypto-Currencies is that whom ever creates it can create a set amount say 1 billion crypto coins in total. No need to mine it as you can buy crypto coins on the open market. The problem is that they are not regulated or protected by the federal system. Meaning if my crypto wallet is stolen/hacked and they take all of my crypto coins, I wont get it back. But for example, if my American Bank goes bankrupt, my funds are protected by the Federal Government, meaning I get my money back. 


Asgardia, will have to protect our Crypto-Currency in much the same way as the US Federal Government protects bank deposits and investments. otherwise you may lose it all to hacking or if your phone is stolen...etc. etc. 

Dec 23, 02 / Dec 25, 18 14:36 UTC

@Davedgreat2000

You bring up a good point: protection. I would say though the protections need to be similar but better than what the United States offers.

I have zero illusion to the fact that once I deposit money into the bank in the US, the bank then gets to hold, control, and even call my deposits "theirs" according to some fine print enacted in recent years.

Assets can be frozen and held on mere suspicion alone.

I never feel that my money is protected the bank. Yes, there is FDIC insurance, but that comes with lots of red tape, loopholes, etc.

While I agree it's nice to believe the money we deposit into the US bank system is protected (and even as it sits, is still better than other countries monetary system), I think that Asgardia can do better. Taking the good and leaving out the bad.

I'm glad you brought that up.

@Dirk  - I like your idea of the solar powered satellite beaming it down.

But wouldn't any satellites we launch still be under some Earth countries "jurisdiction"?  My understanding of current space law is fuzzy at best.

Jan 1, 03 / Jan 1, 19 01:24 UTC

@MistyWrites, I've never had a problem with my Bank, except for extra fees, i dropped my bank due to that. I have a credit union. Much better rates. Other protections I know need to be taken is against Cybercrimes. someone stole 200 million worth of Cryptocoins early this year. they never got the money back. people who bought those coins or mined them (if mined like bitcoin and other coins), were gone. They lost the money. So some protections is what i am asking for. Some insurance on the Solar Cryptocurrency is needed. if someone steals the wallet/bank account and you can prove it, you get your money back. 


@Dirk, CubeSats are too small for what you are thinking. Unless you put up 100's of them and direct mirrors or what have you together in one place, then maybe you could do it. What China and other Nations had in mind was a large solar collector in space, transforming the suns energy to Microwave radiation and beaming that back down to earth. 

A Cube-Sat is roughly the size of a backpack. a few feet long. cost about $150,000 or so. 



Jan 4, 03 / Jan 4, 19 11:56 UTC

@Davedgreat2000, I understand your concern in regards with protection and i see your point for trusting your bank. However, your bank or any other bank would not be able, in case of a regional/global breakdown, to subsidize any of your lost funds as most of the money in the monetary system are fictional. Cryptocurrencies, on the other hand, are unique and cannot be duplicated, stolen or counterfeit as they are running on a decentralized network where all transactions are protected with the most advanced cryptographic algorithms known to man so far. Technically speaking there are less chances of someone hacking into your wallet than are atoms in the whole milky way galaxy. 


The headlines of those stolen cyrptocurrencies are perhaps from a centralized exchange that did not care much to protect it`s users and failed to secure their servers, or, perhaps from users that have lost their private keys due to negligence etc. All this reasons can be avoided is the users of the system are well informed and trained in how to do so. 


Also, by default, there is indeed no central governance that could refund the stolen goods of a user of the system. However, blokchain in it`s essence is just a stack of protocols that could be adapted to any needs really and a form of governance could be implemented in a blockhain but that would defeat the purpose of decentralization in the first place. 


I am very glad that Asgardia is looking forward to adopt a blockchain based fnancial system as it could be expanded into many forms of transactions and open up secure methods of voting, identity management, transactions and the list goes on.