Friday, October 27, 2017

Why Society Should Always Use Cash

In the Book of Revelations, the economic system of "The Beast" is one where if you do not have the mark, you can not buy or sell.

It is possible that a cashless society could be seen as being like "The Beast" system because you need your card or your phone or whatever in order to make transactions.

Having cash as money, however, is contrary to The Beast system, because you can just receive cash and give cash, no identifying marks necessary.

Did I mention The Book of Revelations says if you accept The Beast you cannot be saved? There might be a very basic reason for that:::

The internet is a point of weakness in such a system. If the internet goes kablooey, then there can be no trading.

I do have some enjoyment of bitcoin, it's fun to resemble a sci-fi society like in Star Wars or Cowboy Bebop in real life ------

But I've run into an example where the internet didn't even have to go down, and I'm still seeing a problem with the technology.

I have made a few bitcoin transactions in my time.  Most of them have been just fine. I donated some bitcoin to the Linux Mint project, I donated some bitcoin to a charity.

But yesterday I heard there was a sale on Steam for a game on my wishlist, and I learned that Steam accepts bitcoin, so I decided to try it out.

Everything went perfectly- EXCEPT for how it's taking over 12 hours to get the first confirmation of my transaction.

Why would that be?  There is so much hashing power on the network you'd think they'd be able to do my transaction in a jiffy, especially since I paid for the best service -- I paid the most expensive transaction fee I could see on the list, which was only supposed to take 20 minutes to confirm.

over 12 hours later and still no confirmation.

This is just one basic reason why The Book of Revelations may be right ---- Even if the internet doesn't go down, it might still take half a day just to do what you want.

And if the internet goes down --- then everyone is pooched.

Cash is a good thing. Bitcoin is fun, but right now it's only reminding me of why Cash is so great.

Considering how powerful the bitcoin network is, like all the nodes and miners ---- It should have been a very quick process ----- but it's taking over 12 hours. Something is wrong, or messed up or something.

UPDATE::::: Sunday, October 29th, 2017

I had heard that China banned bitcoin, and I had earlier heard that there was a lot of mining in China - so it comes as no surprise that,

In just a small time recent, the hash rate on the bitcoin network dropped from almost 13 million TH/s to 6.1 million TH/s.

This might explain why my transaction STILL hasn't been processed.

UPDATE #2:::::

The Transaction finally received it's first confirmation - after about 60 hours.

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