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Esteemed Contributor
Posts: 5,871
Registered: ‎09-02-2022

Re: What is BitCoin? Crypto? (I'm lost)


@jlkz wrote:

@JoyFilled Warrior 

 

The information gets stored in a "secure" way; however, wherever people are involved in any capacity, there is the potential for misuse...I.e., data mining to to pull together bits and piece to form the mosaic of your life both past and present.  

 

There could be a serious / dangerous impact on your life if the wrong person who has control over any part of the storage and retrieval process gets interested.

 

Just read The Scarecrow by Michael Connelly and it's a good way to understand the behind-the-scenes management of centrally stored data and how it can be manipulated for nefarious reasons.


~~~~~~~~~

 

@jlkz   Oh wow!  Thank you.

 

Ive heard horror stories about ppl uploading their phone List to the Cloud, as recommended by their phone Manufacturer/Provider,  only to have bunches of calls to members of their now, own, newly uploaded phone list.

 

So I've hesitated.   I dont want ppl on my phone list being hounded, or even peppered with calls as a result of my innocently uploaded phone list.

 

But I'm nervous not having my phone list not stored somewhere other than only one phone

 

 

And I dont want any of my info  ex Uber, Bills, CCs, etc, sent anywhere either.

 

Honestly, Im suspecting there's already been BIG MONEY selling other ppl's data, & that's pre-AI !   Imagine now, with AI??

 

Rumor has it that Musk recently, last few wks, changed his "Use & Conditions" on X (formerly Twitter), allowing him to use any & all user data collected on X for his own (whatever), incl newest purposes, & for whatever any reason he wants, accountable to no one!  Acknowledged to no one.

 

And Im guessing that's not just Musk!

 

Whatever, whichever is true about all this stuff, or not.  Who's to really say?  *shrugs*

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB
Esteemed Contributor
Posts: 5,871
Registered: ‎09-02-2022

Re: What is BitCoin? Crypto? (I'm lost)

 

@jlkz  

Looks like the book you recommend has good ratings.  Is it Fiction, (backed by good research, seems based on some reviews)?

 

Also, looks like it's part of a 4 book set. 

For our chat topic purposes, can I pluck just this "Scarecrow" book out of the series?

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB
Honored Contributor
Posts: 40,698
Registered: ‎05-22-2016

Re: What is BitCoin? Crypto? (I'm lost)

[ Edited ]

It's a completely separate method of payment/system from banks where cryptocurrency is not tied to third-party transactions through banks. Crypto has to be established between buyers and sellers before it can be used. Not all retailers have crypto as a method of payment. You have to look for places to buy crypto and then use it in places that accept crypto as payment.

Valued Contributor
Posts: 797
Registered: ‎03-15-2010

Re: What is BitCoin? Crypto? (I'm lost)

I am for the most part clueless, but am staying far away.  I occasionally receive a spam email saying the invoice has been sent to my Paypal account for Bitcoin/cryptocurrency purchase.  Yeah right. 

Contributor
Posts: 46
Registered: ‎08-23-2010

Re: What is BitCoin? Crypto? (I'm lost)

BitCoin is extremely energy extensive to "mine".  There is a mining facility in my area.  Using natural gas to manufacture electricity to run the computers that "mine" bitcoin and power the fans that keep the computers cool produces insane amounts of greenhouse gas. The mining facility is very very noisy; the noise from the fans can be heard over a mile away and the facility runs 24 hours a day. The amount of electricity to run the facility surpasses the amount of electricity used by every house in our town.  A very wasteful use of our precious resources for the benefit of a few wealthy individuals.

Honored Contributor
Posts: 16,181
Registered: ‎03-11-2010

Re: What is BitCoin? Crypto? (I'm lost)

I don't know & I don't care.

I prefer Cash.

Esteemed Contributor
Posts: 6,607
Registered: ‎06-29-2016

Re: What is BitCoin? Crypto? (I'm lost)

If you don't understand it, you shouldn't have anything to do with it.

 

That's one of my top personal investment rules.

Honored Contributor
Posts: 77,927
Registered: ‎03-10-2010

Re: What is BitCoin? Crypto? (I'm lost)

I've never understood it and haven't really tried because I'm pretty sure I don't need it.  There have been so many scams involved, seems very sketchy.

New Mexico☀️Land Of Enchantment
Esteemed Contributor
Posts: 5,697
Registered: ‎12-02-2013

Re: What is BitCoin? Crypto? (I'm lost)

@JoyFilled Warrior 

 

I read the book online and it was a stand alone.  

Connelly may have the lead characters in an earlier book or two but the crime stories are not interrelated.

 

If you watch the Bosch detective series, Connelly is the same author.  His detective books are quite enjoyable.  ( The Lincoln Lawyer series, book and TV,  are his work also.

We make a living by what we get. We make a life by what we give.
Sir Winston Churchill
Esteemed Contributor
Posts: 5,871
Registered: ‎09-02-2022

Re: What is BitCoin? Crypto? (I'm lost)

Hi @jlkz 

 

Thank you for this info!  I plan on following up!  Woman Happy

"Don’t forget to be kind to strangers, for some who have done this have entertained angels without realizing it!" TLB