Crypto Conversation

[snowdenscold]

Be skeptical, but after researching it one question at a time, it’s hard to find flaws.

What??? How can you possibly make this claim?

There are 79 pages of this thread that beg to differ.

[CrazyNotCrazie]

Nothing wrong with some healthy skepticism. It’s hard to view something radically new without it.

The world has never seen a secure money, or a piece of easily transferable digital property, (ever how you chose to look at it), that’s available for all to own and self custody, and where we can be confident it will not be counterfeited or controlled by political power structures.

BTC is like a digital gold in the sense it is scarce, can be regulated, but not re-created.

I recognize that’s a big statement, but I think it’s an accurate one.

Be skeptical, but after researching it one question at a time, it’s hard to find flaws.

When I am having a discussion with someone I am always very skeptical about people who don’t see shades of gray. Very few things are 100% perfect or 100% bad.

I recognize that you are basically the only pro-crypto person here against a sea of skeptics. But to say “it’s hard to find flaws” really takes away most of the limited credibility you have left.

Those of us still participating here are trying really hard to be open minded. But even the biggest crypto advocate (other than you) would admit that the system has flaws. The question is whether the positives outweigh the flaws. I would generally say they don’t but to make a compelling argument that they do, you have to admit the flaws. My middle schooler is doing this now in his writing classes - it is really basic.

I’m still trying to figure out why I keep banging my head against the wall and coming back here…

[Kdogg]

Nothing wrong with some healthy skepticism. It’s hard to view something radically new without it.

The world has never seen a secure money, or a piece of easily transferable digital property, (ever how you chose to look at it), that’s available for all to own and self custody, and where we can be confident it will not be counterfeited or controlled by political power structures.

BTC is like a digital gold in the sense it is scarce, can be regulated, but not re-created.

I recognize that’s a big statement, but I think it’s an accurate one.

Be skeptical, but after researching it one question at a time, it’s hard to find flaws.

Except the dozens we keep bringing up.

1) Bitcoin has a fixed supply and no counterfeiting! Well there was that time that some rando minted 184 BILLION coins out of thin area.
2) Bitcoin can't be controlled! Well the powers that be of Bitcoin stole those 184 BILLION coins. If that's not control I don't know what it.
3) It's beyond the control of political power structures! That shows a shallow understanding of how the internet works.
4) It's beyond the control of political power structures! But I want them to provide FDIC insurance.
5) It can't be re-created! Except since the white paper is out it can. Hi Litecoin, and Dogecoin and Bitcoin Cash and Bitcoin SVB and etc...

You are blinded by your dogma and conveniently ignore well sourced, researched, and factually correct points in favor of algorithmically programmed YouTube videos.

[Phredd3]

“Fix the money, fix the problem .”

Nigeria leading in Africa as global Bitcoin trade hit $3 trillion

“Coming at a time that Nigeria has been ranked as the leading country in Bitcoin adoption in Africa followed by Togo, Cameroon, Cote d’Ivoire, Senegal, Kenya and South Africa, the Convener of Bitcoin Africa conference, Farida Nabourema, said in the past five years, the industry has been the fastest on the planet and has surpassed card transactions.

She mentioned that the African continent has the fastest adoption rates in the world and at this rate, the continent may surpass America, Europe, or even Asia.”

You've used an argument like this a couple of times. But the point is who in Africa is adopting? There are plenty of rich folks in Africa, too, and plenty of people trying to shield illicit activity from their respective governments. Just because adoption is high, that doesn't mean Bitcoin is actually doing what you imply.

[Kdogg]

Colorado Becomes First US State To Accept Bitcoin As Payment For Taxes.

Probably nothing…

Yes because they are just accepting PayPal.

"When a user pays with a crypto asset, PayPal will instantly convert that sum into the corresponding amount of fiat currency, free of charge, and then send this fiat currency to the vendor in exchange for goods or services. "

https://www.nasdaq.com/articles/payp...ent-2021-04-05

They are getting dollars. If they were getting BTC it would be something.

[OldPhiKap]

You've used an argument like this a couple of times. But the point is who in Africa is adopting? There are plenty of rich folks in Africa, too, and plenty of people trying to shield illicit activity from their respective governments. Just because adoption is high, that doesn't mean Bitcoin is actually doing what you imply.

Yeah, I started a response along these lines but dropped it. Fact is, countries like Nigeria have even worse income inequality than the developed nations that are railed against by Bitcoin enthusiasts.

How is Bitcoin curing income inequality in Nigeria or Africa? How does someone who is a subsistence farmer benefit from Bitcoin, let alone use it as a practical currency?

[curtis325]

You've used an argument like this a couple of times. But the point is who in Africa is adopting? There are plenty of rich folks in Africa, too, and plenty of people trying to shield illicit activity from their respective governments. Just because adoption is high, that doesn't mean Bitcoin is actually doing what you imply.

I've heard that Nigerian Princes love bitcoin.

[camion]

I've heard that Nigerian Princes love bitcoin.

But they're also okay with Amazon gift cards.

[Jeffrey]

What??? How can you possibly make this claim?

There are 79 pages of this thread that beg to differ.

You ain't gonna learn what you don't want to know.

- Barlow

[Jeffrey]

When you’re struggling to get running water, let alone electricity, let alone personal computers and mobile apps, I can’t see that getting crypto is too high on your abilities let alone wants.

No doubt!

I thought the person who Wheat quoted might have seen what I saw. If so, I wanted to read a few of their writings.

Once in a while, you get shown the light,
In the strangest of places, if you look at it right.

- Hunter

[OldPhiKap]

No doubt!

I thought the person who Wheat quoted might have seen what I saw. If so, I wanted to read a few of their writings.

Once in a while, you get shown the light,
In the strangest of places, if you look at it right.

- Hunter

I got no dime
But I got some time
To get some Bitcoin

[Jeffrey]

I got no dime
But I got some time
To get some Bitcoin

Then he asked me for a dime,
a dime for a cup of coffee.

[Wheat/"/"/"]

Except the dozens we keep bringing up.

1) Bitcoin has a fixed supply and no counterfeiting! Well there was that time that some rando minted 184 BILLION coins out of thin area.
You’re talking about a bug in the original code that was hacked in the first year, before BTC was much of anything? Core developers fixed the bug immediately and the the original 21 million coins are all there are, or there will ever be.

2) Bitcoin can't be controlled! Well the powers that be of Bitcoin stole those 184 BILLION coins. If that's not control I don't know what it.
You don’t know what is.

3) It's beyond the control of political power structures! That shows a shallow understanding of how the internet works.
Politicians cannot change Bitcoin, no mater if they are Left, Right, communist, authoritarian…whatever.

4) It's beyond the control of political power structures! But I want them to provide FDIC insurance.
You just don’t seem to get it. It’s not the Bitcoin that needs to see the FDIC insurance protection for people when banks start taking custody of BTC for clients, it’s to protect the people from the banks.


5) It can't be re-created! Except since the white paper is out it can. Hi Litecoin, and Dogecoin and Bitcoin Cash and Bitcoin SVB and etc...
Good luck matching and recreating the Bitcoin network. It’s the strongest most secured network in the world.


You are blinded by your dogma and conveniently ignore well sourced, researched, and factually correct points in favor of algorithmically programmed YouTube videos.

I have patiently responded to all your rants, as inaccurate as they may be.

[Kdogg]

I have patiently responded to all your rants, as inaccurate as they may be.

Again, you can’t see the forest for the trees. They aren’t rants, just inconvenient truths and are as accurate as day. Maybe I will make up a quote from a Foundering Father and you will be able to see.

3) It's beyond the control of political power structures! That shows a shallow understanding of how the internet works.
Politicians cannot change Bitcoin, no mater if they are Left, Right, communist, authoritarian…whatever.

Yup. Shallow understanding of how the internet works.

You just don’t seem to get it. It’s not the Bitcoin that needs to see the FDIC insurance protection for people when banks start taking custody of BTC for clients, it’s to protect the people from the banks.

What the actual heck? Since rational thought is out the door I’m just sticking about to shot down disinformation.

[Wheat/"/"/"]

How is Bitcoin curing income inequality in Nigeria or Africa? How does someone who is a subsistence farmer benefit from Bitcoin, let alone use it as a practical currency?

How? By maintaining the security of the network and the value people place in the 21 million coins.

Inflation and currency corruption in countries like Nigeria disproportionately hurt the poorest people.

Bitcoin is fair money, or digital property, a place even the poorest can store the smallest amount of value they’ve earned without fear of debasement or loss of their property due to unstable government actions.

[Wheat/"/"/"]

Yes because they are just accepting PayPal.

"When a user pays with a crypto asset, PayPal will instantly convert that sum into the corresponding amount of fiat currency, free of charge, and then send this fiat currency to the vendor in exchange for goods or services. "

https://www.nasdaq.com/articles/payp...ent-2021-04-05

They are getting dollars. If they were getting BTC it would be something.

Hello?

It’s like the state of Colorado would be willing to accept gold for taxes, which would be exchanged for dollars too.

It simply shows that Bitcoin is becoming more acceptable as a money storing value.

As to why it’s exchanged into dollars, well the dollar is the currency of the US, after all.

[Kdogg]

Hello?

It’s like the state of Colorado would be willing to accept gold for taxes, which would be exchanged for dollars too.

It simply shows that Bitcoin is becoming more acceptable as a money storing value.

As to why it’s exchanged into dollars, well the dollar is the currency of the US, after all.

The state of Colorado is NOT excepting BTC. The state of Colorado is excepting PayPal. They are using the BTC headline to drum up media coverage.
The way that PayPal works is as followed:

You setup a PayPal account.

You fund a PayPal account by linking it to a bank or a credit card or deposit cash at a store or from crypto you transfer in or buy from PayPal.

You buy something from a merchant that accepts PayPal and can fund that purchase from any source from above.

PayPal remits dollars to the merchant. This works at any place that takes PayPal. I mean Panda Express takes PayPal but you don’t see them (or the hundreds of other merchants) trying to drum up attention by using a misleading headline. Heck you could set it up at your store.

It would be something if the state took direct BTC payments. This is nothing because it’s just PayPal. Plus they are charging almost 2%. A debit card in my county is 5 bucks max and free if using a check.

[Wheat/"/"/"]

]

The state of Colorado is NOT excepting BTC. The state of Colorado is excepting PayPal. They are using the BTC headline to drum up media coverage.
The way that PayPal works is as followed:

You setup a PayPal account.

You fund a PayPal account by linking it to a bank or a credit card or deposit cash at a store or from crypto you transfer in or buy from PayPal.

You buy something from a merchant that accepts PayPal and can fund that purchase from any source from above.

PayPal remits dollars to the merchant. This works at any place that takes PayPal. I mean Panda Express takes PayPal but you don’t see them (or the hundreds of other merchants) trying to drum up attention by using a misleading headline. Heck you could set it up at your store.

It would be something if the state took direct BTC payments. This is nothing because it’s just PayPal. Plus they are charging almost 2%. A debit card in my county is 5 bucks max and free if using a check.

Denver Post Headline: Colorado accepts cryptocurrency to pay taxes, moving the state “tech forward”
Polis says state is making good on promise to taxpayers

The State simply designated Paypal to handle the exchange of the “crypto”.

Take your word gymnastics up with the Post.

[Mtn.Devil.91.92.01.10.15]

I'm not trying to be a jerk - what is the magical property of Bitcoin that makes it impervious to political manipulation? That seems nearly impossible. Even if it's a truly independent currency, politicians can be pretty tricksy with how they can influence, well, pretty much anything.

Do you just mean because the quantity is fixed, so they can't "print more?" Because there seem to be many many other ways one can manipulate the value of a commodity.

Are you saying it isn't a commodity?

Full disclosure, I'm generally in favor of the actions politicians take to manipulate value - for the most part they seem to do things that protect it. I'm just curious as to where this basic belief comes from.

I'll take your answer off the air.

[Kdogg]

]

Denver Post Headline: Colorado accepts cryptocurrency to pay taxes, moving the state “tech forward”
Polis says state is making good on promise to taxpayers

The State simply designated Paypal to handle the exchange of the “crypto”.

Take your word gymnastics up with the Post.

Or don’t fall for click bait.