141–145 of 145 posts
The strictly limited amount of BTC makes this into a land grab. First comers are entitled to the services of the real economy due to their virtue of being first(or lucky to be on the right place at the right tweet). Musk is right on this one: https://twitter.com/elonmusk/status/1401251430015582209?s=21 Unlike fiat money, BTC is not an accounting tool for value exchange. Unlike actual land, it doesn’t have any intrins…
Earlier quoted context omitted.
Once you have BTC you can choose to store it outside of a bank as a non-inflationary asset. No one can remove it from your wallet.
Yeah, but you're still having to pass through Coinbase or any other exchange, and they can remove it from you there. That's the point, if Bitcoin needs an exchange to be functional you're losing all the differential features that Bitcoin has.
I guess the answer to the exchange problem is to have a decentralised exchange.
Earlier quoted context omitted.
> just because they were the last isn't probably something most people would agree with. Most people also don't agree on huge salaries and bonuses for CEO's, in practice the people with money are willing to pay those perks. When people vote with their wallets, does it really matter what the people not voting are going to say?
It certainly matters if you don't want to live in fear for the rest of your life. Because if you think for a minute that the level of violence that would ensue would not be monumental you're kidding yourself.
The "you have nothing to lose but your chains"-argument just doesn't work on people who have more than enough junk to fill their stomachs (and brains) with.
Sigh. Bitcoin BTC, at 3 transactions per second, doesn't have the capacity to support El Salvador's economy. Even if Lightning worked (it doesn't), BTC doesn't have enough capacity to open channels for users at a reasonable cost. Salvadorians will end up forced to use proprietary payment networks denominated in BTC. BTC is not cash anymore, it won't work as such. There are other cryptos that could work, we'll have to…
Sigh. Bitcoin BTC, at 3 transactions per second, doesn't have the capacity to support El Salvador's economy. Even if Lightning worked (it doesn't), BTC doesn't have enough capacity to open channels for users at a reasonable cost. Salvadorians will end up forced to use proprietary payment networks denominated in BTC. BTC is not cash anymore, it won't work as such. There are other cryptos that could work, we'll have to…
> doesn't have the capacity to support El Salvador's economy It's easier for San Salvador to disappear Bitcoin into cronies' pockets than U.S. dollars. For this purpose, Bitcoin's deeper liquidity makes it the best choice. Less cynically, Bitcoin has brand recognition. That makes it politically palatable in a unique way. Bitcoin isn't a great currency. But it is a competitive store of value. El Salvador doesn't have…