The Bitcoin Universe Explained

Tyler Durden's picture

As evidenced by the Greek, Chinese, and now Argentine 'jumps', the world remains increasingly aware of the inevitable worth of fiat currencies and fears the desperate acts of governments as the react to that reality (and is looking for alternatives).

 

This infographic explains the wide ranges of the Bitcoin universe, accompanied with quotes from some of its best-known business leaders.

 

Courtesy of: Visual Capitalist

 

So from miners to merchants, the Bitcoin universe continues to expand dramatically as we noted previously, "There are more people in the world who need a currency they can trust, than there are people in the world who can trust their currency."

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Wow72's picture

This is great.. an overview of what the fuck Bitcoin is and the connections involved..  Great thanks.  Still not a huge fan, but this helps.  Looks like there is some room for consoladation, seems like lots of hands in the cookie jar at this point... maybe?

BlueViolet's picture

Same scheme. Different package. Same problem >> http://wp.me/p4OZ4v-2GY

coinhead's picture

HOLY MUCKING INVERTED LOVE OF CYBERCHRIST IT'S MOAR BITCOIN ON ZEROHEDGE!!!

Manthong's picture

c'mon you gatta love the graphics,,

and go get a wooden tally stick if you want real value.

https://en.wikipedia.org/wiki/Tally_stick

 

coinhead's picture

That's exactly what Bitcoin is actually.... a global tally stick where everyone on Earth has the same copy.

Manthong's picture

yep.. no third party liability..

trustless.. hashed... definite.. limited supply.. proof of work..

...sounds like real currency to me, unlike the infinetly printable FRN.,

coinhead's picture

Bitcoin has already won.  Not here to win any friends or change any minds.  Bitcoin is only 6 years old and owned by nobody and it's still teh world's most powerful currency.  The best option for you still in denial is go pick up the last pre-Bitcoin calendar from 2007 and hang it on teh wall in your cave and keep singing la-la-la-la-la-la......

wee-weed up's picture

 

 

And the US shadow gov't...

Which is accountable to no one...

And does all sorts of illegal cyber stuff...

Continues to smile and lay in wait...

For all the bitcoin fools...

Reeling them in like fish...

coinhead's picture

What exactly are they going to do?  Ban math?  This is exactly teh type of attitude that makes so many of you such a joke though... you think that these people have any real power?  They do not.

wee-weed up's picture

 

 

"you think that these people have any real power?  They do not."

It's really very simple... they control the internet... which you bitcoinheads need for survival.

And if you think they do not control the internet...Then that's just what they want you to believe...

Wise up... Learn how the REAL world works.

coinhead's picture

No "they" do not control the internet and if they did they would have already shut it down or heavily restricted it.  Why don't "they" just tell every nation to tell every ISP inside all of those nations to tear down all of their BGP routes?  I mean it's really that simple.... right??  The reason "they" don't is because "they" rely on teh internet just as much as Bitcoiners do.

wee-weed up's picture

 

 

"and if they did"

Having some doubts?...

Actually, they're no where ready to take all you bitcoinheader's money just yet...

No, they're very patient and willing to lay in wait and let the bitcoin mania increase...

In fact, they're actively stoking the mania behind the scenes surrepticiously...

It will mean MUCH more money for them in the end.

coinhead's picture

For teh record we believe that teh Satoshi hoard may already be in the hands of TPTB.  Doubtful they do not know who he is as he was communicating openly with Gavin and others.  But if that's the case, go to an altcoin.  Big deal...

in4mayshun's picture

Do you have an issue with the word "the"?

coinhead's picture

Teh we can spell things how we want.  Don't tread on we.

jeff montanye's picture

sounds like humpty dumpty to me.

http://www.fecundity.com/pmagnus/humpty.html

next stop grunts and sticks.

VinceFostersGhost's picture

 

 

Buy gold.

 

Stop....you're done.

Anonymous User's picture

I'd rather own gold & silver before basing my illusions and dreams on some electricity impulses. 

A simple power failure will make them all go poof. Then you'll be left with this choice only:

http://goo.gl/3G3r6i

 

clymer's picture

bitcoin, gold, silver - all responses to the money-changers total consolidation of power.

But look at the graphic - merchants, fortune 100's using bitcoin as payment.. And Gold and Silver with 1000's of years of history as legitimate money remain supressed with electronic shorts? And now all of the new crypto-currencies coming on scene, you're telling me bitcoin will remain the only viable crypto currency?

Hey, I wish I got in on the bitcoin scheme early on, but the fact that PM's remain artificially suppressed, while bitcoin surges (albeit with wide swings) suggests that TPTB have made a decision to allow it. Why? (and don't say "they can't control it." They could cry "terrorist" and ban any site that offers a bitcoin payment option - certainly Microsoft, dell and DirectTV have insiders on the board)

keep your crypto's, im sticking with PM's

besides, couldn't you hyperinflate this via division? (i.e. .000000000000000003724132 bitcoins, once worth one dollar in the electronic wallets of hundreds of millions of smarmy, insipid and trite pseudo-technocrats all comes washing up for payment would render it worthless in what it is and always has been used in exchange for - fiat currency)

OpenThePodBayDoorHAL's picture

50% of Bitcoins are owned by less than 1000 people. And only 350,000 people own more than 1 Bitcoin. After almost 7 years. It's really not happening. Too complicated, too slow, terrible brand reputation, unclear regulatory. In the US alone it's a commodity, it's property, it's a currency, it's a payment system, and soon, it's a security:

https://www.youtube.com/watch?v=vLU4B8L-ROc

 

blueRAP's picture

Gold is king, but BTC > FIAT

Wow72's picture

OMFG? Is Teh your "safe space"  you fucking sissy? Its obvious you like dreaming kids shit up, I see why you naturally connect with Shitcoin so well.

 

Your Comment: "Don't tread on we."

That tells me everything I need to know about what team your on... Your on our current socialist team.  No wonder shitcoin has such a socialist feel upon signing up? Why dont you go mine some minecraft coin, so when the SHTF, as a result of all the "Dickheads" we have created over the past few decades,  your prepared!

83_vf_1100_c's picture

  'teh' indicates he is a 20 something maybe fresh out of college unemployed diversity studies type. You can spell horse as cadillac but your ride still needs oats and educated people will think you a moron every time you say/type 'teh'.  You lose a lot of respect when you play at hip/cool with the language.

  An above post makes me entertain at least the idea that he may be a $15/hr .gov shill pushing BC to the masses so when they kill BC more money for them.  Or not. I am prepared to go back to barter if necessary. Cyber cash is a great idea. Who doesn't want an anonymous money system free of taxes and govt intrusion? Well, the govt for one. BC death knell right there. Just a matter of time. But hang on to your BC wallet, you may get settled out at pennies on the dollar when the new gubmintcoin system rolls out.

nmewn's picture

lol...more moves than a monkey in a forty acre grapevine...lmao!

CLEARLY something that can compete as a currency, for honest exchange and availability to "the masses".

Unless of course, you're homeless, without a device, can't remember a password, have no electricity or internet.

Absoutely perfect! ;-)

coinhead's picture

Yes it is perfect because even teh homeless can verify Bitcoin currency teh same way they verify a lottery ticket is a winner.  Obviously you understand nothing about this technology.

Scooby Dooby Doo's picture

Scooby loves the coins! Yes, you're dog gone right. Coinhead and Manthong are the greatest educators of all times.

MANvsMACHINE's picture

FACT: Most people understand so very little about the BTC technology. Given this, how does BTC become the currency of choice for those who don't understand it?

Wow72's picture

Thats the biggest obstacle that people will have with it,  trying to figure out exactly what its is? and how it works? Then you have people like DICKHEAD making everything crystal clear.  It will take some time.

blueRAP's picture

people dont understand how FIAT really works either..

Squid-puppets a-go-go's picture

but a 5 yr old can understand how a semi precious metal coin works

I like bitcoin, but its universality is really compromised . although physical currency is not much good for long distance transactions, so both mediums have their limitations

nmewn's picture

So, all these overweight people holding up cardboard signs saying they're "Hungry-Please Help-God Bless" at interstate entrance/exit ramps...how do I give them a BitCoin again?

What do we do, buy spare i-phones and hand them one or is the state gonna implant a bio-chip under their skin the next time they roll through doing a catch & release drill for some major event or some big wig is coming to town?

fiftybagger's picture

Glad you asked.  Actually all they would need to do is go to their free local public library and print off a QR code for 10 cents and slap that on their card board sign.  Then anybody driving by with a cell phone could donate to them without even rolling down the window. 

nmewn's picture

So you're saying this person who "contributes" nothing to keeping ths "free public library" open has to come up with 10 fiat cents from somebody else in order to make this miraculous currency work?

I guess when the paper QR code fades away he just goes back to the "free public library" and grabs another one without redeeming the old code?

What a country!...lmao!

coinhead's picture

There is already physical Bitcoin currency that works teh exact same as other currency.

nmewn's picture

Yeah, it's called gold & silver, except it's called money too, not just a "currency".

You see the thing you guys can't seem to get through your heads (if any of you are actually serious, which I doubt) is, MONEY doesn't rely on something else to make it money, it's completely unencumbered.

It doesn't need faith or credit or internet or i-shit or passwords or encryption or electricity or king's or government's or force or treachery or pronouncements or digitation or "the cloud" (lol) to be MONEY.

What you have is an electronic "currency" wholly dependent on many other interlocking factors & circumstances to even attempt to call itself a currency, it's actually closer in comparison to an unregulated debit card, which is fine (no regulation) as I'm not a fan of it (regulation) either but it is a bit perplexing to me to ask the state to intercede on your behalf when the shit goes wrong while you were avoiding it's "currency".

It's more of a "free rider" in that respect ;-)

Abaco's picture

You just hold up your middle finger as you slowly drive by yelling "Get a job you lazy piece of shit!"

ckm's picture

How does knowing Satoshi (or Gavin) may damage bitcoin? It's an open source code. It's not private.

coinhead's picture

Yes I know, what I meant is that teh Satoshi hoard may have been compromised.  Teh NSA would have known based on ip addresses and ISP logs who was chatting with who.  No coins have to change hands for someone to go to your house and have someone put a gun in your mouth and say "give me teh private keys now!"

Illuminatig's picture

Do you mispell 'the' to be cute or annoying?

RaceToTheBottom's picture

The only thing missing is the shadow people and backers.  Which firms are WS Criminal Houses backing?

Where did Blythe end up at?

 

But a very good start and thanks for doing it....

I think Bit coin has a future as a transactional medium, not as a store of value....

silvermail's picture

Bitcoin - it is not a currency. Bitcoin - it is a section of clinical psychiatry.

OceanX's picture

Did he say, "got wood    ...tallywacke?r" 

Kirk2NCC1701's picture

There's another alternate payment system, that has been around for > 1000 years: HAWALA*

For obvious reasons, it is hated by the Clan of Usury, and thus by TPTB.  Unlike Crypto-currencies, there must be a strong element of Trust, for it to work -- which means that it works only within a very homogenous culture (Islam, Jewry, Templar Christians, Organized Crime).  Run-of-the-mill, or designer-brand 'Christians' are way too unreliable for anything like Hawala.

https://en.wikipedia.org/wiki/Hawala 

MalteseFalcon's picture

Where's Mt. Gox?

I didn't see Mt. Gox in there?

So where's Mt. Gox?

coinhead's picture

It's gone and nobody could care less.

Manthong's picture

ok.. third party...

what else do you need to know? ????

 

WTF.. go to JP Morgan .. same difference.

MalteseFalcon's picture

Only an idiot, like you, wouldn't care.

Bitcoin's future contains more Mt. Gox & big brother.

Ultimately a pet rock for suckers.

coinhead's picture

So you are going to sell all of your silver when the EXCHANGE called Comex fails?  Not going to waste muh time arguing with someone so fucking stupid that they don't know the difference between an EXCHANGE and a CURRENCY (which would be around 50% of you morons).

MalteseFalcon's picture

The infographic had a shiny section called "exchanges".

Each one a potential Mt. Gox.

coinhead's picture

o0oO0o0()oh so scary!  Why should we give a flying fuck if we don't have any money in any of these potentially failed exchanges?  Didn't care about Gox, don't care about this either.