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Owned by Tim

Do Music Full Time™️

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3 contributions to Bitcoin
Who is Satoshi Nakamoto?
Great video. There are 2 more parts if u wanna learn more. But this one provides a good amount of evidence.
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New comment Mar 25
Who is Satoshi Nakamoto?
0 likes • Mar 15
Hal Finney
You can't actually "own" bitcoin.
@Tim Maholic posted this yesterday in a comment and I want to re post it. Bitcoin private keys are coordinates to buried treasure (aka Bitcoin). Bitcoin private keys are not titles or deeds. There is no ownership in Bitcoin. The number 7 is a valid private key on the bitcoin network. People have spent BTC from the addresses associated with the private key you can generate with the number 7. You cannot own exclusive rights to the number 7. Current ownership title and deed laws cannot apply to Bitcoin because you cannot own Bitcoin because "Bitcoin" is just a set of signatures and UTXOs associated with a number (private key). And you cannot own a number. All you can do is safe keep coordinates (private keys) that have treasure (Bitcoin) located at them. You cannot "Own" Bitcoin. It will be interesting to watch legislators try to prove that you can own Bitcoin (Bitcoin = a set of signatures and UTXOs associated with a number).
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New comment Mar 17
You can't actually "own" bitcoin.
0 likes • Mar 13
@Ted Carr https://youtu.be/Jh7BTOPh5qM?t=363
0 likes • Mar 13
@Ted Carr That's the link with the timestamp included
First party hats... and now bitcoin?
I was first introduced to the idea of Economics through a game called Runescape when I was 12 years old. Runescape features an in-game economy containing money (coins) and items that have prices which are set by the players who build or acquire the items. You can collect coins by doing stuff and then buy items with your coins from other players. Party hats (featured below) are one of the few "finite" items in the game, but the coins are infinite, and easy to come by. As a result of the coins being infinite and easy to come by, and the party hats being finite, the party hats quickly became worth billions. Why? 1 word: Inflation. When there's more and more money in circulation over time, players have more and more money to spend. This increase in available money means players are willing to pay more for the items they desire, including rare and prestigious items like party hats. And party hat sellers, knowing that buyers have more money, raise their prices accordingly. What does this remind me of? Bitcoin. Bitcoin is a finite item (there will only ever be 21 million of them) like party hats, and fiat currency is infinite (our government has a literal money printing machine) like the coins in Runescape. Because bitcoin is a finite item like party hats, bitcoin can only grow in price like party hats. If you watch the video below you can learn more about how the party hats in Runescape grew to be so valuable. As you watch, you'll see the similarities between party hats and bitcoin.
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New comment 10d ago
First party hats... and now bitcoin?
2 likes • Mar 13
Bitcoin private keys are coordinates to buried treasure (aka Bitcoin). Bitcoin private keys are not titles or deeds. There is no ownership in Bitcoin. The number 7 is a valid private key on the bitcoin network. People have spent BTC from the addresses associated with the private key you can generate with the number 7. You cannot own exclusive rights to the number 7. Current ownership title and deed laws cannot apply to Bitcoin because you cannot own Bitcoin because "Bitcoin" is just a set of signatures and UTXOs associated with a number (private key). And you cannot own a number. All you can do is safe keep coordinates (private keys) that have treasure (Bitcoin) located at them. You cannot "Own" Bitcoin. It will be interesting to watch legislators try to prove that you can own Bitcoin (Bitcoin = a set of signatures and UTXOs associated with a number).
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Tim Maholic
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@tim-maholic-9277
I do music full time.

Active 3h ago
Joined Mar 10, 2024
Oklahoma City, OK
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