But won’t it be harder for ordinary folks to funnel their cash into bitcoin? How will you cash out bitcoin for dollars without an exchange? Do decentralized exchanges work the same as Coinbase — and if so, wouldn’t they be subject to the tyranny currently being discussed?
There are couple answers to this on-ramp question.
First answer already exists - Lets say you trust me. You can send me money via paypal and I can send you crypto directly from my wallet to yours. You can do this with anyone you trust. Your family, friends, local community etc. Problem really is finding people you can trust and scalability.
The second asnwer is that you can create a proper defi system with smart contracts where I send you crypto and you send me money via bank transfer and no one else is in the middle. Check out veritaseum. I think its poised to be able to do this, and its inventor finally got the patent awarded.
However the final answer is that in future we may not even need the regular currency anymore. The people's crypto will be backed by assets, and everyone will accept it as legal tender and hence there is no need to convert it to dollars. It is the dollar.
Well the current fight is Biblical, and defeating evil actually means reclaiming our financial freedom since its the root of all their power.
Thank God Satoshi is anon,
lol, I wouldn't put all my eggs in the bitcoin basket. You should dig a bit more into Bitcoin origins, but whether Satoshi is CIA or anon doesnt really matter because Bitcoin is not suitable to become people's currency. 90+% of the bitcoins are held by 4% of the wallets, so even without debating all other aspects, it can never cater to the whole world.
I do believe crypto is the future of freedom, just not bitcoin.
But won’t it be harder for ordinary folks to funnel their cash into bitcoin? How will you cash out bitcoin for dollars without an exchange? Do decentralized exchanges work the same as Coinbase — and if so, wouldn’t they be subject to the tyranny currently being discussed?
There are couple answers to this on-ramp question.
First answer already exists - Lets say you trust me. You can send me money via paypal and I can send you crypto directly from my wallet to yours. You can do this with anyone you trust. Your family, friends, local community etc. Problem really is finding people you can trust and scalability.
The second asnwer is that you can create a proper defi system with smart contracts where I send you crypto and you send me money via bank transfer and no one else is in the middle. Check out veritaseum. I think its poised to be able to do this, and its inventor finally got the patent awarded.
However the final answer is that in future we may not even need the regular currency anymore. The people's crypto will be backed by assets, and everyone will accept it as legal tender and hence there is no need to convert it to dollars. It is the dollar.
I hope you’re right, but the reptilians in charge won’t give us “the people’s money” without a huge fight. Thank God Satoshi is anon,
Well the current fight is Biblical, and defeating evil actually means reclaiming our financial freedom since its the root of all their power.
lol, I wouldn't put all my eggs in the bitcoin basket. You should dig a bit more into Bitcoin origins, but whether Satoshi is CIA or anon doesnt really matter because Bitcoin is not suitable to become people's currency. 90+% of the bitcoins are held by 4% of the wallets, so even without debating all other aspects, it can never cater to the whole world.
I do believe crypto is the future of freedom, just not bitcoin.
I’m curious, what crypto do you advise?
This article seems to dispute your 90%-4% wallet figure... https://insights.glassnode.com/bitcoin-supply-distribution/
It seems pretty broadly distributed.
I believe in BTC, for what it’s worth, and have invested accordingly.