Bitcoin is not crypto. It is a digital commodity, with no central issuer. All "cryptos" are unregistered securities, no different than a stock. We call them shitcoins.
Money is whatever people decide. Historically, people have chosen to use gold and silver as money because they do not corrode, because they are difficult to mine, etc. But they have several inherent flaws that bankers have exploited for millenia to run their fiat scams, and it all comes down to the fact that a precious metal-based monetary system, like fiat, is based on trust. Bitcoin eliminates the need for trust.
3, and most importantly: Digital money is here whether people like it or not. The only question is will one person control it, or no person. CBDCs can be turned off and manipulated at the whim of the central banks, yes. But they also weigh nothing, can be sent digitally at no cost, cost nothing to store, and more. Put simply, they are convenient.
Gold and silver cannot compete with the CBDC. Bitcoin can.
To your point 2) I don't believe bitcoin eliminates the need for trust because of the complex code involved. Those without the expertise have to trust what others are telling you about bitcoin and its one of the toughest things I'm having with the concept of bitcoin.
Do you trust that your car is going to start every day? I'm guessing you don't know how to build an engine, but you trust your mechanic? And you still are able to drive the car and do basic maintenance, yes?
Bitcoin/crypto is the same. You just need to learn the basics and then it WILL make sense. The only trust you need is in yourself to understand how to use it, much like driving a car.
Theres a difference between verification of a physical action vs electronic tokens. And funny that you mention that example, but I literally don't have a mechanic I trust. With that said if a mechanic changes your shocks you can go to your car and see that new shocks were put on the car without knowing how shocks are built. same with any other maintenance. There is a physical shape and mass you can check to make sure someones not bs-ing you that you are aware of just by being alive.
I've used computers all my life, but have essentially no experience with coding outside of high school. I wouldnt even know how to access the 'code' behind bitcoin nevermind verifying the important claims like "How do we know theres a fixed amount of bitcoin?" or "where does the bitcoin come from that is awarded to miners?" and "How do I know my access to my wallet can't just be shut off?"
It's a simiiar mentality to why I want electronic voting systems gone. With physical systems there are ways of verifying if someone is speaking the truth just by life experience, with electronic systems you need to trust the experts.
Like I mentioned before I'm open to bitcoin (I KNOW I don't trust other crypto right now), but there is a huge psychological trust barrier to most of the population when people cant verify what they're actually holding.
I don’t really care about the potential criminality of it. What I care about is being able to have some level of privacy. We can have a gold/silver backed currency. If people want to trade bitcoin amongst themselves I don’t care but for national currency I want God’s money which has been used for 1000’s of years.
I would agree with you if you know of a way to make it work this time. The US and many past countries have tried it over and over again. It seems control of the currency is too much power to maintain long term.
Unlike gold or silver, If crypto wins out, it won't be due to a decree. It will be from people simply using it.
Crypto is centralized. Bitcoin is not crypto, it is a digital commodity with no central issuer or governing body. It is the first truly stateless unit of value storage and exchange in human history.
"Crypto" is not centralized. There are thousands of coins out there, most are shit, but not all are centralized. And Bitcoin isn't the only legit one. Privacy is a big deal to a lot of people which is a big reason some people have stayed away from Bitcoin. That's why privacy coins like Monero are going to be huge.
I hope not. I want God’s money not digital bs. Only gold and silver are money. Also crypto is too complicated for a lot of people.
Bitcoin is not crypto. It is a digital commodity, with no central issuer. All "cryptos" are unregistered securities, no different than a stock. We call them shitcoins.
Money is whatever people decide. Historically, people have chosen to use gold and silver as money because they do not corrode, because they are difficult to mine, etc. But they have several inherent flaws that bankers have exploited for millenia to run their fiat scams, and it all comes down to the fact that a precious metal-based monetary system, like fiat, is based on trust. Bitcoin eliminates the need for trust.
3, and most importantly: Digital money is here whether people like it or not. The only question is will one person control it, or no person. CBDCs can be turned off and manipulated at the whim of the central banks, yes. But they also weigh nothing, can be sent digitally at no cost, cost nothing to store, and more. Put simply, they are convenient.
Gold and silver cannot compete with the CBDC. Bitcoin can.
Fair point. Normies will always chose convenience over freedom
They can make it so you are using crypto without even knowing it. It doesn't have to be confusing.
Iso20022
What does Bitcoin provide that XRP doesn't?
Bitcoin is not inflationary
For one thing, bitcoin isn't being shilled for by the WEF. So, there's that.
The fuck it isn't lol. If there are bitcoin ATMs, there is control over it.
That must be why the wonderful SEC is doing such a wonderful job protecting Bitcoin and Ethereum.
Proof of Work
To your point 2) I don't believe bitcoin eliminates the need for trust because of the complex code involved. Those without the expertise have to trust what others are telling you about bitcoin and its one of the toughest things I'm having with the concept of bitcoin.
Do you trust that your car is going to start every day? I'm guessing you don't know how to build an engine, but you trust your mechanic? And you still are able to drive the car and do basic maintenance, yes?
Bitcoin/crypto is the same. You just need to learn the basics and then it WILL make sense. The only trust you need is in yourself to understand how to use it, much like driving a car.
Theres a difference between verification of a physical action vs electronic tokens. And funny that you mention that example, but I literally don't have a mechanic I trust. With that said if a mechanic changes your shocks you can go to your car and see that new shocks were put on the car without knowing how shocks are built. same with any other maintenance. There is a physical shape and mass you can check to make sure someones not bs-ing you that you are aware of just by being alive.
I've used computers all my life, but have essentially no experience with coding outside of high school. I wouldnt even know how to access the 'code' behind bitcoin nevermind verifying the important claims like "How do we know theres a fixed amount of bitcoin?" or "where does the bitcoin come from that is awarded to miners?" and "How do I know my access to my wallet can't just be shut off?"
It's a simiiar mentality to why I want electronic voting systems gone. With physical systems there are ways of verifying if someone is speaking the truth just by life experience, with electronic systems you need to trust the experts.
Like I mentioned before I'm open to bitcoin (I KNOW I don't trust other crypto right now), but there is a huge psychological trust barrier to most of the population when people cant verify what they're actually holding.
I don’t really care about the potential criminality of it. What I care about is being able to have some level of privacy. We can have a gold/silver backed currency. If people want to trade bitcoin amongst themselves I don’t care but for national currency I want God’s money which has been used for 1000’s of years.
I would agree with you if you know of a way to make it work this time. The US and many past countries have tried it over and over again. It seems control of the currency is too much power to maintain long term.
Unlike gold or silver, If crypto wins out, it won't be due to a decree. It will be from people simply using it.
Look into Monero. Works like Bitcoin but has privacy by default and transactions are untraceable.
gold and silver are insanely manipulated. When they start mining asteroids soon your metals will become worthless
When the federal reserve falls apart the manipulation of gold and silver prices on the comex will cease.
Which can be more easily decentralized? Gold or crypto? I’m not sure, but it’s a question worth investigating.
Crypto is centralized. Bitcoin is not crypto, it is a digital commodity with no central issuer or governing body. It is the first truly stateless unit of value storage and exchange in human history.
Cryptocurrency is the term used for all forms of electronic currency including Bitcoin.
"Crypto" is not centralized. There are thousands of coins out there, most are shit, but not all are centralized. And Bitcoin isn't the only legit one. Privacy is a big deal to a lot of people which is a big reason some people have stayed away from Bitcoin. That's why privacy coins like Monero are going to be huge.