761–770 of 1001 posts
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What are the positive sides of "Evading capital controls"? Also, does POS here mean "piece of shit"?
Point of Sale maybe ...
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
The coin/currency thing is misleading. You should compare it more to gold than to USD etc. Something off which the issuers can't conjure up 4 trillion out of thin air whenever their palls want 'moar!'. USD would be completely Zim dollas by now if it weren't for the petrodollar scam.
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I tried, I sincerely did. I had many friends who were strong believers in bitcoin. I read articles, I watched videos, and every time it felt like hucksterism. There was no serious discussion of the advantages of bitcoin, no attempt to explain blockchain. There was a lot of repeating, over and over again, how amazing and revolutionary bitcoin was. "For the first time ever, a computer owns currency!" one youtuber said…
> "For the first time ever, a computer owns currency!" one youtuber said without the slightest effort to explain why I should care. The truth is for most people, there's no reason to care. Maybe there will be in the future, but not yet. Most people aren't looking for an investment vehicle, a replacement for USD, a way to challenge central banks, or a way to perform zero-trust financial transactions. Most people want…
I agree with you, and I am a "invest in a well-balanced mutual fund and retire in comfort" sort of person, not at all the target audience for bitcoin.
Still, even an explanation of why it had the potential to replace USD or challenge the central banks would have been interesting. No one seemed to go further than "because I said so"
Honestly I've yet to meet anyone who wants to take down central banking who seems to have the faintest idea how banking works.
This comment is unlikely to win me many friends here, but it is worth considering that while Bitcoin is, nominally at least, decentralized and free from government control, internet access is not. A simple glance at the trend of governments to partially or to fully shut down internet services to certain areas in times of unrest or mass protest means, in the case of Bitcoin and other cryptocurrencies requiring collect…
bitcoin and most cryptocurrencies function without a ubiquitous internet as in: someone’s will always have computers linked together networking cant be shut off, ubiquity can end users dont need todays convenience of always knowing their balance, it can degrade to going to an internet cafe or bank to check your balance and transact with your notes transactions can be made offline, transported offline like files and e…
Similarly once you spend that coin with me, others may trust that I now have that coin to spend because of the same collective verification structure.
Offline transactions eliminate such trust capabilities due to the lack of transaction and balance verification.
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Says the "Product Manager at a mid size fortune 500 tech company", how much of your day consists on focusing 100% on societal problems really? Besides shitting on other peoples choices, why don't you try to reach out to the graduates and ask them why they work in the cryptocurrency space? Most of the people I know, including myself, have "improving the world" as the reason for working on cryptocurrencies. Even though…
Do you not see the pitfalls of the MLM structure of Bitcoin, along with the "army of HODLers" who are financially incentivized to speak positively and promote Bitcoin? Consensus through profit, financial incentive, is lazy - and arguably greedy - vs. doing the actual work of building real trust, and aligning people through real trust and relationship, community building; there is an argument that Bitcoin is required…
I guess not, as I don't see Bitcoin as any MLM scheme. You seem confused regarding how the price is set for Bitcoin. It doesn't automatically increase the more people are using Bitcoin. It's entirely set by the open market of what people want to buy/sell Bitcoin for, nothing else.
For it to be a MLM, current holders of Bitcoin would have to receive Bitcoin for each new person who gets/uses Bitcoin, which is clearly not the case.
Most if not all of the early holders/investors/users of Bitcoin did so because it was fun. None of us expected the price to even go above $1. Sure, it's cool that it did, but the goal was always being able to transfer funds without limitations, not to speculate on the "final" value of Bitcoin.
And yes, people who hold stocks/funds/cryptocurrencies usually talk positively about them. Not only because they probably put money in them in the first place because they believe in them, but also because it's beneficial for them if the price goes up.
This is hardly anything to do with MLM, which if you did some brief reading on MLMs and Bitcoin, you'd soon realize.
Oh noes, if this starts a trend, becomes widespread, and businesses start hoarding crypto tokens instead of investing in building stuff, it could cause a great depression pretty much the same way gold hoarding caused the economy to collapse in 1929. When people, businesses and banks start hording tokens instead of investing in building and maintaining the production capacity of consumables, the ratio of value of toke…
I cannot tell if this is sarcasm or not. But I’ll assume it’s not: You cannot eat gold or bitcoin. The “hoarders” at some point will want to consume be it a pizza or a lambo. Then there’s those who invest in ways to get more... what for it.. gold or bitcoin so they go out and purchase picks and shovels. Crazy stuff, extremely complicated when I write it as such. Btw, the FED made a trivial recession into a “great” on…
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
Cryptocurrencies as it exists today is nowhere capable of replacing currencies altogether. That doesn't mean cryptocurrencies don't have their uses. Almost everything illegal is now being done using crypto. When people look at bitcoins they think of 2 things. 1. A form of investments that will give fantastic returns in future. 2. A technology that solves a problem. Its the 2nd point that is more important about but t…
1) It won't give fantastic returns in the future forever.
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Are there any alternative to the Bitcoin?
Yeah, there's Nanocurrency. No fees, instant transactions and delegated proof of stake consensus. https://en.wikipedia.org/wiki/Nano_(cryptocurrency) https://content.nano.org/whitepaper/Nano_Whitepaper_en.pdf The whitepaper specifically addresses BTC's energy consumption on page one.
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"pedo guy" was the thing that broke the camel's back for me. When you have millions of followers and billions of airtime on you, it's absolutely inexcusable to call a random guy a pedo. When he did that my view of him went from a "fake it till you make it" type, to a dishonest and malicious person.
Agreed, it was inexcusable. However, we all have our moments where we do dumb things. If you expect anyone to be perfect, you're in for a rude surprise. One has to look at the whole picture, and that incident was an anomaly. I've noticed a tendency for people to jump on one thing someone says or does and try to ruin them over it and de-platform them, as if that one mistake defines their whole life. I think it's uncha…
"our moments"? Didn't he double down on it? Didn't he offer someone a bet, that it would eventually be discovered that the could was a pedophile?
It's in "these moments" that you can peer inside a person's mind. In normal times, anyone can put up a facade.
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bitcoin and most cryptocurrencies function without a ubiquitous internet as in: someone’s will always have computers linked together networking cant be shut off, ubiquity can end users dont need todays convenience of always knowing their balance, it can degrade to going to an internet cafe or bank to check your balance and transact with your notes transactions can be made offline, transported offline like files and e…
I think you are missing the trust-factor inherent in Bitcoin and related cryptocurrencies. If you pay me 1 coin, I trust that you have the coin to spend because of collective verifications from other nodes in the network which confirm the same. Similarly once you spend that coin with me, others may trust that I now have that coin to spend because of the same collective verification structure. Offline transactions eli…
the rest of us in the wasteland still have something better than a bottlecap based economy
you described something that temporarily puts it on equal footing with checks, but presented a higher standard exclusively for bitcoin to meet