tell me again how you buy crypto without having to sign up to a website which you have to verify your identity with photo ID crypto
the only truly decentralized form of currency is trade of goods and services, everything else is easily controlled, taxed, or adulterated/otherwise devaluing
Same way you buy gold and silver without showing id. You can also mine it for a lower investment and risk than you'd have if you get into gold or silver mining.
so then i have a usb with internet money which i can use as a replacement for fiat or metals
seems like the only advantage is the size, if you want to smuggle a load of money then maybe thats a good ideas but for pretty much every other imaginable situation there is better options than crypto, also a hell of a lot less volatile
if you want it as an investment thats just buying in to the ponzi scheme, its only going to go up in value if more people buy in, you then would likely try and push other people to do the same so the price goes up and you make money, which is very common for ponzi schemes, they believe its a good investment too, after all they got rich from it, got in early and just waited, or maybe they buy the dips and sell the peak, they are making bank but that money is not coming from thin air, for every dollar you make someone loses a dollar
the only reasons to buy crypto are:
you want to invest in something that can make you a lot of money quickly
2)you are a millionaire and you need to flee your country with your money but for some reason cant use off shore banking but can get piles of cash to buy a usb containing crypto
3)buying illegal stuff on the internet, which can be traced back to you by determined alphabet agents and AIs
so then i have a usb with internet money which i can use as a replacement for fiat or metals
seems like the only advantage is the size, if you want to smuggle a load of money then maybe thats a good ideas but for pretty much every other imaginable situation there is better options than crypto, also a hell of a lot less volatile
if you want it as an investment thats just buying in to the ponzi scheme, its only going to go up in value if more people buy in, you then would likely try and push other people to do the same so the price goes up and you make money, which is very common for ponzi schemes, they believe its a good investment too, after all they got rich from it, got in early and just waited, or maybe they buy the dips and sell the peak, they are making bank but that money is not coming from thin air, for every dollar you make someone loses a dollar
the only reasons to buy crypto are:
you want to invest in something that can make you a lot of money quickly
2)you are a millionaire and you need to flee your country with your money but for some reason cant use off shore banking but can get piles of cash to buy a usb containing crypto
3)buying illegal stuff on the internet, which can be traced back to you by determined alphabet agents and AIs
i mean, thats only if you use an exchange right? i didnt know you could just direct transfer people bitcoin with out an using some kind of exchange/system that you have to register for, im pretty sure you cant do that but it was a good idea
its not a market valued asset, a speculatively valued token, like an nft, you have no asset, you have a digital token, like an nft, which some people value and others dont
Privacy and anonymity, why don't you wanna make digital payments without the government knowing about it? hahahahahahahahahaha breaths hahahahaha are you kidding? you think they cant track your payments which leave a trail though the block chain? a asset developed by the us government is totes untraceable
as my main problem with crypto is that there is no easy way to buy and sell them without using a service which requires photo ID and pretty much all your details i think its safe to say i do, i just know that crypto is certainly not untraceable and if you buy anything online its traceable, the governments of the world have access to all kinds of tools, including compromized vpms, backdoors, deals with the people who make parks for your pc, the list is just endless,
i didnt know you could just direct transfer people bitcoin with out an using some kind of exchange/system that you have to register for
That's the whole point of a cryptocurrency, direct peer-to-peer payments without having to involve any middlemen. How else are you gonna pay for smart contracts, web 3.0, data storage and other blockchain applications?
thats not how it works you liar, you cant go peer to peer directly, its via block chain which leaves a trace, its how you know who owns which coins otherwise it would be easy to make fake coins,
That's the reason bitcoin was created - Peer to Peer Transactions.
A person A can send Bitcoin directly from address 1 to another person B at address 2
The transaction is reported to the system and if the keys are correct the transaction is marked valid and is incorporated into a block. When that block is processed it is added to the chain and broadcast to over 15,000 nodes each of which maintain a copy.
There is no identifying information in the blockchain. Only that X amount of bitcoin was moved from address 1 to address 2.
It is unfortunate that people don't understand how it works and use unecessary third party exchanges who add an uneccessary level of processing and collect personal information not nedded for the transaction.
6.25BTC is released every 10 minutes, the government cannot change that unless they can change time itself. Where's your proof that the government has a working time machine?
You don't seem to understand how fiat currency work. The main flaw is the very fact that it can be created out of thin air by a tiny little minority of (((people))), this cannot be done with tangible assets, digital or physical makes no difference. Which you would understand if you knew the real reason as to why gold has value. It's not just because it's shiny.
No, there could be asteroids made out of solid gold which one day come crashing down in your back yard, or new gold ores could be found anywhere on earth. History has proven tho that the probability of that is low enough to consider gold as a relatively finite supply, with more being added at a predictable rate. There may be chemical processes to generate new gold using other raw materials which we are currently unaware of.
Yes, Bitcoin uses algorithms to decide how much is created for each new block, how much time it takes to mine a block. This is all adjusted over time, and every node check in real time that no one is attempting to cheat. In fact it can all be proven mathematically: https://github.com/bitcoin/bitcoin. The total number of Bitcoin that will ever exist, is 21M, hence a finite supply.
So let me get this straight, I get downvoted, meanwhile you give an article that states, and I quote, "Fungibility is one of those measuring sticks that separates Bitcoins and other cryptocurrencies from fiat currencies. Surprisingly, Bitcoin is not fungible the way fiat currencies are,"
He explains the only issue with fungibility being that some tokens from blacklisted wallets (connected to criminal reputations/behavior) can be valued less than “clean” tokens. Therefore, not EVERY bitcoin is currently equal in value—though the vast majority of bitcoins certainly are. This only comes down to some people not equally valuing every unit of currency, the same that some people are unwilling to accept “blood money” in dollars, or gold, or anything else. Some will and usually find ways to clean it. Same thing.
Last line states: “Bitcoin isn't fully fungible nowadays, but it likely will be sometime in the future.”
Which bank is that?
tell me again how you buy crypto without having to sign up to a website which you have to verify your identity with photo ID crypto
the only truly decentralized form of currency is trade of goods and services, everything else is easily controlled, taxed, or adulterated/otherwise devaluing
Same way you buy gold and silver without showing id. You can also mine it for a lower investment and risk than you'd have if you get into gold or silver mining.
so then i have a usb with internet money which i can use as a replacement for fiat or metals
seems like the only advantage is the size, if you want to smuggle a load of money then maybe thats a good ideas but for pretty much every other imaginable situation there is better options than crypto, also a hell of a lot less volatile
if you want it as an investment thats just buying in to the ponzi scheme, its only going to go up in value if more people buy in, you then would likely try and push other people to do the same so the price goes up and you make money, which is very common for ponzi schemes, they believe its a good investment too, after all they got rich from it, got in early and just waited, or maybe they buy the dips and sell the peak, they are making bank but that money is not coming from thin air, for every dollar you make someone loses a dollar
the only reasons to buy crypto are:
so then i have a usb with internet money which i can use as a replacement for fiat or metals
seems like the only advantage is the size, if you want to smuggle a load of money then maybe thats a good ideas but for pretty much every other imaginable situation there is better options than crypto, also a hell of a lot less volatile
if you want it as an investment thats just buying in to the ponzi scheme, its only going to go up in value if more people buy in, you then would likely try and push other people to do the same so the price goes up and you make money, which is very common for ponzi schemes, they believe its a good investment too, after all they got rich from it, got in early and just waited, or maybe they buy the dips and sell the peak, they are making bank but that money is not coming from thin air, for every dollar you make someone loses a dollar
the only reasons to buy crypto are:
Smuggle money, that's the only reason in your head? How about:
What kind of bubble do you live in? you never ordered anything online? you don't give a fuck about your privacy?
i mean, thats only if you use an exchange right? i didnt know you could just direct transfer people bitcoin with out an using some kind of exchange/system that you have to register for, im pretty sure you cant do that but it was a good idea
its not a market valued asset, a speculatively valued token, like an nft, you have no asset, you have a digital token, like an nft, which some people value and others dont
Privacy and anonymity, why don't you wanna make digital payments without the government knowing about it? hahahahahahahahahaha breaths hahahahaha are you kidding? you think they cant track your payments which leave a trail though the block chain? a asset developed by the us government is totes untraceable
as my main problem with crypto is that there is no easy way to buy and sell them without using a service which requires photo ID and pretty much all your details i think its safe to say i do, i just know that crypto is certainly not untraceable and if you buy anything online its traceable, the governments of the world have access to all kinds of tools, including compromized vpms, backdoors, deals with the people who make parks for your pc, the list is just endless,
That's the whole point of a cryptocurrency, direct peer-to-peer payments without having to involve any middlemen. How else are you gonna pay for smart contracts, web 3.0, data storage and other blockchain applications?
thats not how it works you liar, you cant go peer to peer directly, its via block chain which leaves a trace, its how you know who owns which coins otherwise it would be easy to make fake coins,
anatidaephobia is not a liar.
That's the reason bitcoin was created - Peer to Peer Transactions.
A person A can send Bitcoin directly from address 1 to another person B at address 2
The transaction is reported to the system and if the keys are correct the transaction is marked valid and is incorporated into a block. When that block is processed it is added to the chain and broadcast to over 15,000 nodes each of which maintain a copy.
There is no identifying information in the blockchain. Only that X amount of bitcoin was moved from address 1 to address 2.
It is unfortunate that people don't understand how it works and use unecessary third party exchanges who add an uneccessary level of processing and collect personal information not nedded for the transaction.
^^^This^^^
By it's very invention (invented by USPS), and nature, crypto currencies are centralized. Why is that being missed by damn near everyone?!
Mine it. Trade did it.
Schiff. Any relation to pencil-neck?
Crypto is just fiat currency with a CPU / GPU cycles.
It is a weapon against nations and the people affected are the poor / middle class.
If your goal is to start a war, crypto is great. Less people = less mouths to feed.
6.25BTC is released every 10 minutes, the government cannot change that unless they can change time itself. Where's your proof that the government has a working time machine?
That's my point.
BTC or any crypto is a weapon being used against real life currency. Any currency.
There are still those at the top of the pyramid and at the bottom.
You changed one collar for another.
Do you. I will stick with tangible assets.
You don't seem to understand how fiat currency work. The main flaw is the very fact that it can be created out of thin air by a tiny little minority of (((people))), this cannot be done with tangible assets, digital or physical makes no difference. Which you would understand if you knew the real reason as to why gold has value. It's not just because it's shiny.
Is there finite gold ?
Is there finite BTC ?
No, there could be asteroids made out of solid gold which one day come crashing down in your back yard, or new gold ores could be found anywhere on earth. History has proven tho that the probability of that is low enough to consider gold as a relatively finite supply, with more being added at a predictable rate. There may be chemical processes to generate new gold using other raw materials which we are currently unaware of.
Yes, Bitcoin uses algorithms to decide how much is created for each new block, how much time it takes to mine a block. This is all adjusted over time, and every node check in real time that no one is attempting to cheat. In fact it can all be proven mathematically: https://github.com/bitcoin/bitcoin. The total number of Bitcoin that will ever exist, is 21M, hence a finite supply.
Games playing games within games that you cannot eat.
Carry-on frog.
The security is solid for now ( though if it is created by man, it can and will be destroyed by man eventually )
The creation and use is hyperinflation of a targeted currency and a means of destabilization.
95% of crypto is held by 3% of the community which can cause the pyramid to fail internally but can also be used externally on the trade market.
Unless currency is pinned to hard metals, I have many reservations.
Do you frog, I will keep to metals / tangibles.
God Speed.
What does the satanic financial system have to do with blockchain technology? Nothing.
He predicts a crash EVERY year. He would eventually be right, of course.
Doge is trash and everybody who knows blockchains knows that, because it has an infinite supply.
Peter was proven wrong again. And this time his customers are out of money because they have it their faith in his centralized bank.
Bitcoin fits the same criteria as gold does for being money, except that crypto is easily portable (and it also makes precious metals portable).
Bitcoin isn't fungible.
https://bitcoins.net/investing/fungibility
So let me get this straight, I get downvoted, meanwhile you give an article that states, and I quote, "Fungibility is one of those measuring sticks that separates Bitcoins and other cryptocurrencies from fiat currencies. Surprisingly, Bitcoin is not fungible the way fiat currencies are,"
He explains the only issue with fungibility being that some tokens from blacklisted wallets (connected to criminal reputations/behavior) can be valued less than “clean” tokens. Therefore, not EVERY bitcoin is currently equal in value—though the vast majority of bitcoins certainly are. This only comes down to some people not equally valuing every unit of currency, the same that some people are unwilling to accept “blood money” in dollars, or gold, or anything else. Some will and usually find ways to clean it. Same thing.
Last line states: “Bitcoin isn't fully fungible nowadays, but it likely will be sometime in the future.”