The original "old bitcoin"

[Crypto123 0]

Archaeologists have evidence to show that the concept behind them is much older than we think.

The study found that a small island called "Yap" in the Pacific, is home to the remnants of the old currency system, which includes giant stone discs operating in a formula similar to the series of blocks currently available.

Source: https://en.wikipedia.org/wiki/Rai_stones

[Smbl 7]

24 minutes ago, Warrior said:

After getting success many one's try to pull them down so now they are trying with Bitcoin I think. So just ignore those because Bitcoin really don't care about them

Yes, it is true that whenever Bitcoin leads to success, people talk about it and I agree that we should ignore such things.

[Great Commander 659]

This proves, since then we are engaged to make real transactions based on currency we have from the past. Possibly, the way we interact on present world will bring us success or failures depending on what we will do. 

[Crypto123 0]

43 minutes ago, heelsibat said:

Many people will say many things and spread rumours. But the truth is bitcoin is a new concept with new thought because Bitcoin was not developed to be real currency. It was intentionally made for the online currency. That's why it has not a physical form. The main motto of Bitcoin was decreasing the inflation of the world.

Yes, I agree with you, but the article does not talk about the existence of a physical origin of Bitcoin, but it talks about the idea of Bitcoin infidelity in terms of decentralization and public record book and the lack of ownership of this currency to anyone and other similar things, is meant by the idea itself and not the currency itself.

[fuer44 1083]

1 hour ago, heelsibat said:

Many people will say many things and spread rumours. But the truth is bitcoin is a new concept with new thought because Bitcoin was not developed to be real currency. It was intentionally made for the online currency. That's why it has not a physical form. The main motto of Bitcoin was decreasing the inflation of the world.

yes, and bitcoin will never be printed for any purpose. bitcoin will remain virtual and function as an online payment. actually if its function is also to reduce inflation it is quite reasonable, because bitcoin has 1 market and the whole world has the same exchange rate for its estimated 1 bitcoin.

[Sumayya 493]

Those blocks are physical while that of the current blockchain are virtual. Is there a way to compare them the same way

[kyoukage01 3181]

31 minutes ago, Sumayya said:

Those blocks are physical while that of the current blockchain are virtual. Is there a way to compare them the same way

Since I have read the Wiki article, I will try:

• Both of them increases in value over time; Bitcoins due to demand, while the oldest Rai stones becomes more valueable by virtue of its history. "If many people—or no one at all—died when the specific stone was transported, or a famous sailor brought it in, the value of the rai stone increases by reason of its anecdotal heft."
• Bitcoin transactions are recorded in public distributed ledgers called blockchains. The Yapese people and their recorded oral history of ownership is its equivalent. "The monetary system of Yap relies on an oral history of ownership. As long as the transaction is recorded in the oral history, [the rai stone] will now be owned by the person to whom it is passed and no physical movement of the stone is required."
• Being a digital currency, Bitcoin has no physical form. Rai stones can be used for transactions even if it is not physically present during the transaction; this holds true for the more massive ones and those that went missing. "In one instance, a large rai being transported by canoe and outrigger was accidentally dropped and sank to the sea floor. Although it was never seen again, everyone agreed that the rai must still be there, so it continued to be transacted as genuine currency."

Quote source: https://en.wikipedia.org/wiki/Rai_stones

Edited November 28, 2019 by kyoukage01

[Sumayya 493]

2 hours ago, kyoukage01 said:

Since I have read the Wiki article, I will try:

• Both of them increases in value over time; Bitcoins due to demand, while the oldest Rai stones becomes more valueable by virtue of its history. "If many people—or no one at all—died when the specific stone was transported, or a famous sailor brought it in, the value of the rai stone increases by reason of its anecdotal heft."
• Bitcoin transactions are recorded in public distributed ledgers called blockchains. The Yapese people and their recorded oral history of ownership is its equivalent. "The monetary system of Yap relies on an oral history of ownership. As long as the transaction is recorded in the oral history, [the rai stone] will now be owned by the person to whom it is passed and no physical movement of the stone is required."
• Being a digital currency, Bitcoin has no physical form. Rai stones can be used for transactions even if it is not physically present during the transaction; this holds true for the more massive ones and those that went missing. "In one instance, a large rai being transported by canoe and outrigger was accidentally dropped and sank to the sea floor. Although it was never seen again, everyone agreed that the rai must still be there, so it continued to be transacted as genuine currency."

Quote source: https://en.wikipedia.org/wiki/Rai_stones

That means the Rai stone also has value, but only the ancients recognize it as a store of value, now it has been modernized to bitcoin

[FlatterCar 696]

I do not fully understand your message, but I would like to speak about the fact that bitcoin has made us rich. As for me, bitcoin plays on both sides, that on poverty, that on wealth. After all, the price is always different, one day you can just lose everything you have.

[Migo 7946]

On 11/27/2019 at 12:26 PM, fuer44 said:

yes, and bitcoin will never be printed for any purpose. bitcoin will remain virtual and function as an online payment. actually if its function is also to reduce inflation it is quite reasonable, because bitcoin has 1 market and the whole world has the same exchange rate for its estimated 1 bitcoin.

Bitcoin is like the internet currency, and he will stay fantasy and never be touched like fiat currency, we will be able to deal with bitcoin in the internet or some atm if they built some of them 

[fuer44 1083]

13 hours ago, Migo said:

Bitcoin is like the internet currency, and he will stay fantasy and never be touched like fiat currency, we will be able to deal with bitcoin in the internet or some atm if they built some of them 

Yes, and also if a store adopts it, we can also use this fantasy money as payment for real goods and I don't think this is an impossible thing to happen.

[kyoukage01 3181]

Did you guys read the linked wiki article before commenting? Because most of you are getting WAAAAAY off topic.

 

*sigh* Can't blame you though, as the threadstarter's first post did not mention that he was talking about an ANCIENT (read: hundreds and thousands of years old) monetary system that bears an uncanny resemblance to the Bitcoin and blockchain technology today.

Spoiler

And anyone else after this post who gives the same shit as these witless cattle certainly did not read this post of mine either.

Now, can we get back to the topic, please?

 

EDIT: Looks like the off-topic shitposts before this one has been cleared. I'll leave this particular post as a warning to future commentators.

 

Edited February 17, 2020 by kyoukage01

[Thekingcallme 1975]

The current system of chains and blocks may be due to old systems but they were not as sophisticated as they are today

[Crypto123 0]

2 hours ago, vivoy90 said:

Today I saw some tutorial video's history of bitcoin coins very interested because I find out btc  is only 0.003$ at the beginning of crypto markets on February 2010. and if you know told to me. 

Yes, dear, this is true, this is what the price of bitcoin was in the beginning, and if I knew about it at that time and knew that it would be at the price it reached now or two years ago, I would have become a millionaire today, but unfortunately no one expected that.

[doriahailee 643]

Very interesting, So the concept was really old and unfortunatelly after some big conflict on that area between some country make it dissapear and just used for making some anchor (Imperial Japan) Really glad the concept can be realized now. Thanks for sharing this one mate, Very interesting!

[PiroSense 2681]

On 11/27/2019 at 5:01 AM, Crypto123 said:

similar to the series of blocks currently available.

Basically, all that inherits something, could be compared similar to the blockchain, as what your argument/statement here says. So I can also say that my family tree is considered a blockchain? Since one person in the tree could not be valid if the previous one wasn't existing? The logic is simple behind it. And thus, you can't really compare blockchain and narrow it down to this general idea, since it would be too much generalization.

 

Though blockchain is not new either. It was originally made in 1991, and Bitcoin is only the first to popularize it by making his own blockchain.

[tienda 8776]

Bitcoin is the old returned just to 2009, and its concept pet for ever is digital and will digital maybe for ever, only if they will convert it to physical  currency or will be for every no touchable.

Edited December 29, 2019 by tienda

[Crypto123 0]

On 1/14/2020 at 11:31 AM, CryptoBitCrypto said:

Are you sure this is true. It do not believe. How could such place be a remnant to OK currencies? In this big world of then. 

Yes, I'm sure of the news, and I believe that. What's the problem with this? The news does not say that Bitcoin itself has been around since the old time, but the idea of Bitcoin in terms of decentralization and registration of all transactions on its own blockchain is the old idea that has been around since ancient times.

[Crypto123 0]

On 1/23/2020 at 7:59 PM, tony13 said:

Yeah my freind Is it true that archeologists argue that old money is an old theory. Thank you for sharing this information with us my freind. 

 

Thank you, my friend, in fact the idea of a blockchain or an open ledger is an old idea and so is the idea of decentralization is an old idea, and bitcoin is a modern invention but it quotes from these ancient theories.

[Yanadia 1517]

On 11/27/2019 at 4:01 AM, Crypto123 said:

Archaeologists have evidence to show that the concept behind them is much older than we think.

The study found that a small island called "Yap" in the Pacific, is home to the remnants of the old currency system, which includes giant stone discs operating in a formula similar to the series of blocks currently available.

Source: https://en.wikipedia.org/wiki/Rai_stones

In fact, if we really look at the history of every formula that was found to have existed even before we were born (traditional mining becomes digital mining) , the difference is the renewal and the faster system, that is the economic renewal, after Blockchain was discovered first, and then Bitcoin was created. 

[Crypto123 0]

8 minutes ago, yupi84goro said:

Since bitcoin has become increasingly popular, many people associate bitcoin with everything whose truth is still being questioned. I am among those who do not believe that the concept of bitcoin technology has been around for a long time, the logic of my thinking  cannot lead to it.It's up to people to say I'm lacking knowledge, I'm still sure the concept of bitcoin technology is really new in  the world of technology.Therefore, bitcoin is the future.

Certainly, bitcoin itself is a new technology and very advanced and did not exist in the past, but this article talks about the idea of bitcoin as an idea and not bitcoin itself, meaning the idea of decentralized currency and the idea of an open registry and these ideas are old.

[Goody28 259]

Am kind of curious about this topic can someone please clear me on this is there old and new BTC coin am confused

[Crypto123 0]

3 hours ago, Gul123 said:

Many people will say many things and spread rumours. But the truth is bitcoin is a new concept with new thought because Bitcoin was not developed to be real currency. It was intentionally made for the online currency. That's why it has not a physical form. The main motto of Bitcoin was decreasing the inflation of the world

Very beautiful, yes true Bitcoin is a new thing and made with a certain intent and this can not be ignored by anyone, but here we talk about the idea as an idea and not about Bitcoin itself. I mean the idea of decentralization and the idea of an open public registry. This idea is old, not new.

[phpMailz 568]

Yes the idea of decentralizing currency did not come from Satoshi Nakamoto, the idea of bitcoin has been around for a long time, so it is not shocking to see that an ancient civilization was using blockchain.

[Crypto123 0]

Exactly dear, this is what I wanted to say and focus on it on this topic but some members did not understand what I meant and thought I was saying that Bitcoin is old and this is not true.