Bitcoin is Mutuality | Bitcointalksearch.org

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

Quote from: BlackHatCoiner on October 14, 2022, 10:35:33 AM

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No, no. They pretty much do gain benefits. Running a full node grants you privacy, security, and self-sovereignty over all. In fact, running a full node does a lot more contribution to the person running it, than to the network bandwidth-wise.

Ouch! Miners are rewarded by the mining fees. Hence, my response was more concerning financial gain 🤣

BlackHatCoiner

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Farewell, Leo

I don't like seeing the Bitcoin users as collectivists. Pretty much the opposite. Running a Bitcoin node is a process dedicated to the individual. Each individual has the same rights, as anyone, to change their rules with no one's permission. The Bitcoin network never tells you what to do. You're just receiving information and instruct based on the rules you've chosen to follow.

Quote from: BitcoinGirl.Club on October 08, 2022, 06:58:49 AM

Those who are running full node they do not get anything but contributing in the ecosystem without any selfish act.

No, no. They pretty much do gain benefits. Running a full node grants you privacy, security, and self-sovereignty over all. In fact, running a full node does a lot more contribution to the person running it, than to the network bandwidth-wise.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction.

Yes. I'd agree with you but, to some point.....just as usual.
I mean, these whole ideology is pure and was operated upon -- way back -- when we had less traffic. Taking an analytical survey will make you understand that we have a bustling number of personnels and transactions; engulfed in some voluminous -- manually statistical, auto synchronized walls, columns and rows of those trnx called the BLOCKCHAIN.

We have alot of trnx and getting just one person excluded isn't gonna give down the process, or is it? I'd agree with you cus YES, if everyone decides not to run the P2P then, we'll all have the whole Bitcoin stuff doomed; I wouldn't wanna start making some elaborations but for sure, the worst would become our fate.
Lemme deviate a bit.

The big question is; why would everyone even decide to stop the MUTUALITY as you explained? Yes there are reasons; you dunno? It's unknown to me either.

Quote

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

It was never and will never be the major cause of green house effects.

Jating

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Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction. This dependency on each other is profitable both for individual and community growth. It some how means everyone on the network has role to play to see to the proper functionality of the coin ranging from miners, developers, traders, investors, speculators and even spectators.

Maybe what you meant is that everyone here is dependent on each other. I guess successes are build on this foundation like Apple or Microsoft, everyone should work in unison.

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Lastly since Bitcoin operate independent of third party standing as a community to debunk any FUD about Bitcoin POW is a collective responsibility of everyone who operate on this forum and beyond.

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

This argument is not new though, there are a lot of FUD in the past and I would say that we are successfully standing on our ground with this kind of attacks because it is not true.

BIT-BENDER

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Bitcoin is more mutual when you put together the collective efforts of everyone, from the moment you make a transaction on Bitcoin you have triggered a chain which comprise of so many things including the miners so yes bitcoin is a large mutual community.
But not all actions are positive (mutuality isn't about negativity) there are actions people take in the Bitcoin ecosystem that can impede the price growth of bitcoin or at worse cause inexperienced bitcoin enthusiast to lose funds.

msbeby

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Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction. This dependency on each other is profitable both for individual and community growth. It some how means everyone on the network has role to play to see to the proper functionality of the coin ranging from miners, developers, traders, investors, speculators and even spectators.

Lastly since Bitcoin operate independent of third party standing as a community to debunk any FUD about Bitcoin POW is a collective responsibility of everyone who operate on this forum and beyond.

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin's creator, Satoshi Nakamoto, originally described the need for “an electronic payment system based on cryptographic proof instead of trust.

DapanasFruit

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I would agree with mutuality but this is most true in P2P transactions where there are really two entities involved but as to other aspects of Bitcoin I don't we can apply the idea of mutuality in there...because sometimes things can be involving many people or even organizations. On the concern of the environment, we are now entering into the phase where renewable energy used in Bitcoin mining is growing...so this is not anymore alarming except for people who got closed mindset and have a different agenda.

hd49728

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Bitcoin is decentralized and Bitcoin users must intereact with each other, directly with Peer to peer trading or indirectly with trading on centralized exchanges. One node must interact with other nodes on the network too and together, they contribute to make decentralization for Bitcoin network.

However, if you say Bitcoin can bring mutual profit between Bitcoin users, it is not always true. Sometimes people have mutual benefit like between Bitcoiners who broadcast their transactions for selling, taking profit and Bitcoin miners who confirm transactions and get block reward as well as transaction fee.

Sometimes it brings profit to one user and loss to another one. The market itself is zero sum, one wins and another loses so no mutually win here.

hatshepsut93

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Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction.

Not really. The smallest possible network is just one node doining the mining and storing blockchain. This node can even send transactions between their own addresses. This node doesn't need other nodes to make Bitcoin more secure, everything is secured by cryptography. Of course on practice its better to have a large network, but still Bitcoin was designed in a way that you don't need to depend on anybody else.

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Lastly since Bitcoin operate independent of third party standing as a community to debunk any FUD about Bitcoin POW is a collective responsibility of everyone who operate on this forum and beyond.

Yes, it benefits you to publicly promote your investment, but that's work, so the optimal thing is to let someone else do it for free.

Gayong88

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The future of cryptocurrency transactions may be in Mutual Bank, Mutual Credit, and Mutual Exchange cryptocurrencies and for
Bitcoin itself is the best invention of mankind because it does not require a financial institution/government to maintain its value. Because of the mutuality, its value continues to gradually increase and we are all a part of it.

Seems like an interesting idea, and it might be useful. However, a closer look at the details will reveal that bitcoin is not completely mutually beneficial. Mutuality means that contributions are exchanged in mutual agreement, with neither party getting more than he or she deserves.

On the other hand, bitcoin pays miners with bitcoins they don't work for, which means they get more than they deserve. Still, embedded in this idea is a user-based currency philosophy that may have significant implications in the future.

Doan9269

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Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction

There's no doubt about bitcoin being a mutuality currency and we all benefit from this through the p2p decentralized network which makes it more easier and prettier to perform it transaction, since the network pairs you to another person of your kind where the buying and selling took place for the two of you under a transparent atmosphere with blockchain technology.

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

This dependency on each other is profitable both for individual and community growth. It some how means everyone on the network has role to play to see to the proper functionality of the coin ranging from miners, developers, traders, investors, speculators and even spectators

Yes everyone of us has a role to play towards thw functionality of the network as we are all interdependent on each other for the growth of the network.

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Lastly since Bitcoin operate independent of third party standing as a community to debunk any FUD about Bitcoin POW is a collective responsibility of everyone who operate on this forum and beyond

Yes, fighting for bitcoin is a role the is more dependent on everyone of us since bitcoin operates through PoW and not PoS and ee all all expected to defend it from those trying to hijack it to their own interest.

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

Yes indeed but the ones government mined as natural resources causes harm and harvoc tobthe environment instead.

Despairo

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There's no relation between people who contribute on the Bitcoin network and environmental ecosystem, I think you don't have any idea about it. Proof of Work will need to consume energy, but actually Bitcoin mining isn't harmful for the environmental, so I don't see why many journalist keep mentioning Proof of Work will harm the environmental.

Most people will think Laszlo is stupid since he spend 10,000 Bitcoin only for 2 pizzas, but without him Bitcoin price wouldn't worth so high because many people will doubt if Bitcoin actually can be worth for $20K.

Tony116

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Quote from: dimonstration on October 08, 2022, 07:04:28 AM

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

The majority of the user in forum knew this and government is just using the greenhouse effect blaming on crypto since they can not shut it down and they just want to make a negative image on Bitcoin to the public so that they will be discouraged to use it.

The fact is that Bitcoin uses energy and generates waste like other industries but compared to those industries it is not worth much and is not the main cause of climate change as the bitcoin haters are spreading. Bitcoin is like other industries, it brings profits to everyone, creates jobs for a lot of people, thereby limiting dependence on the government and reducing pressure on the government. So the energy use of bitcoin is as reasonable as other industries, let alone today we are also gradually switching to using renewable energy.

hugeblack

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What you consider facts or something useful to you is harmful to others for one reason or another.
Therefore, if you are an environmental advocate, every activity that increases the thermal effect will be against it or at best try to find alternatives to it.

Also, do not forget that the decentralized nature of Bitcoin is against the work of the current financial systems, so these systems are encouraged to provide political cover for the growth and prosperity of these currencies.

And therefore everyone will do his work to prove what he says.

Quote from: BitcoinGirl.Club on October 08, 2022, 06:58:49 AM

I guess you are saying about financial profit. Not everyone is in bitcoin doing everything for financial gain. Those who are running full node they do not get anything but contributing in the ecosystem without any selfish act.

They do not necessarily have to be beneficiaries but rather want to check everything themselves.

dimonstration

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Quote from: dbc23 on October 08, 2022, 06:44:13 AM

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

The majority of the user in forum knew this and government is just using the greenhouse effect blaming on crypto since they can not shut it down and they just want to make a negative image on Bitcoin to the public so that they will be discouraged to use it.

We are all here because we have self interest and that kind of feeling makes us mutual to each other aside from what you point out connection. This is my simplest analogy on why we are all gather here in crypto space asides from the privacy thingy.

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

Quote from: dbc23 on October 08, 2022, 06:44:13 AM

This dependency on each other is profitable both for individual and community growth.

I guess you are saying about financial profit. Not everyone is in bitcoin doing everything for financial gain. Those who are running full node they do not get anything but contributing in the ecosystem without any selfish act.

dbc23

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Will Bitcoin talkers agree with me that Bitcoin is Mutuality because we all depend on each other on the p2p network both for Bitcoin values and it's transaction. This dependency on each other is profitable both for individual and community growth. It some how means everyone on the network has role to play to see to the proper functionality of the coin ranging from miners, developers, traders, investors, speculators and even spectators.

Lastly since Bitcoin operate independent of third party standing as a community to debunk any FUD about Bitcoin POW is a collective responsibility of everyone who operate on this forum and beyond.

Bitcoin mining is not depleting our ecosystem, it's not the cause of green house effect neither is it the cause of climate change.

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