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re: Bitcoin...LOL
Posted on 1/22/22 at 3:56 pm to rocket31
Posted on 1/22/22 at 3:56 pm to rocket31
quote:
a fixed supply money which is not controlled by oligarchs should be appealing to freedom type people who want to preserve their wealth?
If Covid has taught us anything it’s that majority of people sadly don’t even care about preserving freedom anymore. They take it for granted and have no idea what they are giving up. Or in some cases are so delusional that they think freedom is “dangerous”
0
Posted on 1/22/22 at 3:57 pm to rocket31
quote:
I'm convinced most people still don't understand why Bitcoin has utility and value
People let media narratives shape their opinion. It's the same reason why a lot of traditional gamers hate NFTs and don't want them in gaming.
Posted on 1/22/22 at 3:57 pm to LordSaintly
quote:
Nope. No single person or entity is in control of Bitcoin
Well, no one except. Elon Musk. Kidding…
Posted on 1/22/22 at 3:58 pm to 22jctiger22
quote:
Another is the fact that governments can shut it down if they really wanted to, regardless of what most of you think.
How? It would take exactly every single government working together to do this. This is the beauty of it all. Cat is already out of the bag.
Do any of you understand what decentralized means?
This post was edited on 1/22/22 at 4:00 pm
Posted on 1/22/22 at 4:02 pm to 22jctiger22
quote:
Another is the fact that governments can shut it down if they really wanted to, regardless of what most of you think.
Jesus. If you even understood Bitcoin 1% you would know that this is impossible.
Posted on 1/22/22 at 4:05 pm to 22jctiger22
quote:
Another is the fact that governments can shut it down if they really wanted to, regardless of what most of you think.
Please explain how the government (or anyone) can shut down a decentralized network. Be specific.
ETA: While you're at it, please provide examples of how the government has shut down decentralized networks in the past.
This post was edited on 1/22/22 at 4:06 pm
Posted on 1/22/22 at 4:09 pm to I Love Bama
quote:
Jesus. If you even understood Bitcoin 1% you would know that this is impossible.
That's my biggest gripe with crypto critics. They have such strong opinions about it but they clearly haven't researched it at all.
Posted on 1/22/22 at 4:09 pm to LordSaintly
Pass a law against crypto and start arresting people. I've heard crazier things.
Posted on 1/22/22 at 4:12 pm to LordSaintly
quote:
Please explain how the government (or anyone) can shut down a decentralized network. Be specific.
Do you not believe that governments can destabilize the entire ecosystem in ways that would destroy/erode value? Suppose the US government decided to make any transaction whatsoever illegal with severe penalties if one were found to be in violation. Would you continue to invest?
Posted on 1/22/22 at 4:15 pm to 22jctiger22
quote:
Do you not believe that governments can destabilize the entire ecosystem in ways that would destroy/erode value? Suppose the US government decided to make any transaction whatsoever illegal with severe penalties if one were found to be in violation. Would you continue to invest?
This is not the same as shutting down the blockchain. This punishes the users, but it doesn't destroy the network.
Also, this doesn't even work very well. Crypto is banned in China but there are a massive number of Chinese users in the space.
Posted on 1/22/22 at 4:16 pm to KCRoyalBlue
quote:
Pass a law against crypto and start arresting people.
This doesn't kill the network though.
Posted on 1/22/22 at 4:21 pm to 22jctiger22
quote:
Do you not believe that governments can destabilize the entire ecosystem in ways that would destroy/erode value?
SO the government is going to say I cant pay $5,000 for my jpegs?
There is absolutely NOTHING illegal, that could ever be, by a free citizen to buy digital assets.
If what you say is ever true, I hope you have enough ammo because you are next.
Posted on 1/22/22 at 4:21 pm to LordSaintly
quote:
This is not the same as shutting down the blockchain. This punishes the users, but it doesn't destroy the network. Also, this doesn't even work very well. Crypto is banned in China but there are a massive number of Chinese users in the space.
It’s semantics. Destroying Bitcoin value and shutting it down are the same in my mind. I should have been more clear.
You didn’t answer my question. Would you transact in Bitcoin and the like if the US government declared it illegal and put you in prison for 10+ years if you were found to violate the law?
This post was edited on 1/22/22 at 4:23 pm
Posted on 1/22/22 at 4:22 pm to 22jctiger22
quote:
Would you transact in Bitcoin and the like if the US government declared it illegal and put you in prison for 10+ years if you were found to violate to violate the law?
Yes because at this point I would not longer live in a free country.
Posted on 1/22/22 at 4:50 pm to JayDeerTay84
hell even China being the pinnacle of totalitarian a-hole that is hostile to crypto is still seeing an BTC mining operation in the underground. It’s nowhere near what it was, but where there is access to energy and the ability to obtain an internet connection, and a financial incentive to do so, people will help support the security of the Bitcoin network.
There are also underground market makers that will engage with people in hostile nations and take their crypto peer to peer and give them fiat in exchange, assuming you don’t just find an exchange outside of the Great Firewall to engage with.
This network is never going away. There are friendly nations that will support it and even the hostile ones have a ridiculously difficult time stomping it out within their own borders. I think what the last decade tells us so far is that the adoption curve is only ever increasing and I see no reason to expect this will change.
There are also underground market makers that will engage with people in hostile nations and take their crypto peer to peer and give them fiat in exchange, assuming you don’t just find an exchange outside of the Great Firewall to engage with.
This network is never going away. There are friendly nations that will support it and even the hostile ones have a ridiculously difficult time stomping it out within their own borders. I think what the last decade tells us so far is that the adoption curve is only ever increasing and I see no reason to expect this will change.
This post was edited on 1/22/22 at 4:56 pm
Posted on 1/22/22 at 4:51 pm to LordSaintly
quote:
People let media narratives shape their opinion
Posted on 1/22/22 at 4:52 pm to JayDeerTay84
You already don't live in a free country, open your eyes.
Posted on 1/22/22 at 4:58 pm to GREENHEAD22
quote:
You already don't live in a free country, open your eyes.
Yea well then it would be severely "less" free and I'll take my chances kuz this pureblood doesn't bend the knee!
Posted on 1/22/22 at 5:23 pm to 22jctiger22
quote:Explain how they can do this please.
Another is the fact that governments can shut it down if they really wanted to, regardless of what most of you think.
Posted on 1/22/22 at 5:27 pm to KCRoyalBlue
quote:This doesn't shut down bitcoin.
Pass a law against crypto and start arresting people. I've heard crazier things.
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