China Blocking Bitcoin? While Russians Use Super Computer To Mine Cryptos

In this video, Luke Rudkowski of WeAreChange talks with Josh Sigurdson of World Alternative Media about the latest news in cryptocurrency and bitcoin. One of the biggest stories of the week has been the major dip in the stock market and jump in price of Bitcoin As well as major news coming from China and Russia in this space plus a lot more.

The views expressed in this video are our opinions and not financial advise. Please do your own due diligence.

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47 Comments on China Blocking Bitcoin? While Russians Use Super Computer To Mine Cryptos

  1. The next big cryptocurrency is gonna be Testiballs. Testiballs is planning to use similar formatting as BitCoin, but they’re gonna thrust deeper into their subcurrency structure to encourage more stroking investments to erect their currency value faster.

  2. 1. Crypto hustlers are running wild right now.
    2. The Dark Governments are like the Mafia, they don’t just walk away.
    3. The BIG BAD elements will snap your back without a second thought if you get into their pockets.
    4. All the amateurs will get burned.
    5. Quantum computing is the end of crypto-anything.

    • You don’t understand the point.If this system once takes over and money will go out of use people will be forced into this system in order to buy or sell anything!

    • Soul Rescue Fiat money is going to fail by design and yeah I think we’re being herded into crypto… but if thsts right… you can buy now be rich in 10 years.

      The sun will take away our electricity one day in the near future… mother nature will save us from the crypto surveillance so we’re good ✌

    • Just like fiat money.

      Thing is, you can either have some or not? You don’t have to like it. You don’t have to agree with it. You don’t even have to go along with it. But if you would like to be able to purchase things in the future, you’re not going to be able to pay in rocks and leaves!

      The system will not fall just because a few people hold out on adoption. There are very few who manage to live without money in this world. It’s a shame it has to be that way, but there really isn’t any thing you can do about it.

  3. Venezuala is planning a new crypto calling it “el petro”. Do you think that is the reason that Rubio is calling for a coup there? Maduro is trying to get the OPEC nations to join him along with several other nations. Do the nations see his plan for his new crypto backed by oil, as a threat to their fiat holdings/ Kind of looks all related… https://www.freedomsphoenix.com/News/232980-2018-01-15-venezuela-urges-10-other-countries-to-adopt-its-oil-backed.htm

  4. If there is only 21 million bit coin how can it be used as a world wide currency how could you buy something that costs 50 million I don’t understand this Bitcoin currency it’s very silly

  5. Oh come on, seriously, why have so many been so for leaving fiat currency which is backed by the government and therefor the people of a country while quickly pushing crypto-currency which is just digital fiat currency that is more a ponzi scheme than the former. What is this reference to creating value through mining through a super computer. It is binary data, it has no value. The value comes from its artificially rising price just like the historical tulip bubble. Why don’t you report on the amount of electricity wasted through “mining”, it is so ridiculous that it can be considered a noticeable contributor to global warming. Remember how Gaddafi was assassinated for attempting to create a non-fiat currency. How many people are getting assassinated for pushing crypto-currency… not many I see. I wonder why, maybe because a ponzi scheme that wealthy investors can manipulate through heavy investments is not something for the elite to fear. Oh and for the one benefit, being decentralized, yeh, how about I make my own currency called ponzi text where you send the word ponzi as a single unit of currency, it is the same.

    • It is fiat currency, but it is only created by mining. Each transaction is checked by a computer, which involves decoding a hash, after which the owner of the computer that checked the transaction gets to have the new bitcoin. That’s basically mining in a nutshell.

    • Yep, as a software developer I do respect the technology, but it is hard to see so many of the alternative media pushing crypto-currency as some kind of savior. It seems so biased when they claim to be unbiased, and they often clearly don’t understand the technology. There is clearly an issue with mining because of the amount energy it uses, and something linked to that is hacking which I have heard is false but is clearly true, as things like js-miner is prevalent on many websites(hacking in the sense it overuses your CPU) and there have been cases of hacking aws accounts to mine while the account owners foot a huge bill.

    • +Mr. Lee It is not fiat currency since it isn’t issued and controlled by a government.

      +Damien Golding What do you propose we use a money?
      Electricity wasting isn’t an issue of technology, it is an issue of individuals choosing to waste power in such a way. If 99% of the miners stopped cryptocurrencies would work just fine.
      And even so, the mining equipment itself doesn’t contribute to global warming, but the way electricity is being produced.
      Not mining would not change that.

    • Well I don’t think there is an easy solution. There is this idea that standard fiat current is bad, but the reality is people focus on the disadvantages. It is centralized and has moved towards having almost no intrinsic value, but it is backed by the working public and can be physically stored quite easily. If we just focus on the disadvantages though, then yes it does lead to corruption, but there are proponents of opening up the currency market so fiat currency is generated by private bodies. I believe that a more realistic solution of trying to find something between what we have now and a bartering system(trading generally anything with a natural trend to more trustworthy items such as minted coins, and some way of digitally backing this up by trusted companies) is what people should be working towards, but as with all good things it would require a lot of work and cooperation from the public. Well, maybe clean-energy mining may be possible in the future but with so many people in the world using so much electricity with fossil fuels still being globally cheaper, I don’t think mining binary data is an appropriate way to use electricity, and I do question whether the idea of people stopping mining when crypto-currency is based on difficult computations is feasible.

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