Bitcoin and Crypto Thread

[chance vought]

We've officially moved from comparing Bitcoin to fire, electricity, and the printing press to gravity and the speed of light. What's next, retconning Bitcoin into the creation story alongside Adam and Eve?

Tell that to the Bitcoin Cash advocates.

And lo and behold, the relevance and usefulness of email has been steadily declining over the past two decades as alternative technologies have eclipsed it (smartphones and a myriad of social media apps/sites). Oh, and how's your landline telephone doing these days? That was once a universal and indispensable network that literally underpinned the global economy. Now it's an afterthought, a relic. The network effect is extremely powerful and seems insurmountable - until it isn't.

Your scope is too narrow - instead of land lines or email…think electronic communications networks. Everything from the telegraph, to the deep space network sending commands to Voyager 2.
Electronic communications networks - analogous to:
Digital gold network. That could be base layer bitcoin sending large amounts of value, lightning network sending smaller amounts quickly, and cashu mints sending small amounts instantly and privately. Dozens of other things built on bitcoins absolute scarcity that have not been invented yet.

 

[chance vought]

You can't prove anything yet keep denying the fact that 8.1 billion humans will accept the US dollar as payment and only 100 million humans accept bitcoin. The numbers don't lie yet btc bros refute them anyhow with "Muh, slaves," and "Meh, the future."

We wouldn’t need this thread though.

In addition, you can never seem to square that part of the NWO JQ plan is a cashless society and that bitcoin is helping to usher that in.

What are your concerns with a cashless society?

Nothing makes sense with bitcoin and there are continually new "updates" about the ever shifting goal posts of bitcoin "information." Again, this is a feature not a bug, because the more complicated (((they))) can make a financial instrument the easier it is to confuse normies and scam them out of their hard earned cash with the promise of future gains. Sometimes those future gains materialize, sometimes not. Either way, "investing" in any form of monetary instrument is gambling and should be decried, not cheered on as some form of "truth machine."

Saving money is how to gain agency and options in life. Having money only means that you have served others’ needs more than yourself. Money and wealth are a measure of one’s generosity of both time and effort, not a measure of greed. Leaving clothes on the store racks and food on the grocery store’s shelves, and tools in the hardware store for others to buy and use. Spending money is greed.

 

[Australia Sucks]

And lo and behold, the relevance and usefulness of email has been steadily declining over the past two decades as alternative technologies have eclipsed it (smartphones and a myriad of social media apps/sites).

Not true. Most people still use email on a daily basis (if not for sending at least for receiving emails). Email and social media perform different functions. Most smart phones come with an email app which people still use. I cannot remember the last time I used a landline when not at work. Two completely different things.

 

[Australia Sucks]

What are your concerns with a cashless society?

It is a valid concern.

Physical cash is a physical bearer instrument. Bitcoin is a digital bearer instrument. Everything in the digital universe leaves some kind of footprint. There is no absolute privacy when it comes to the digital realm. The physical realm is different. If I mow your lawn and you give me a $50 note in exchange as long as there was not a camera recording the exchange nobody can prove where I got my $50 from and nobody knows I have it. With Bitcoin you can at least prove that Bitcoin moved from one wallet address to another wallet address (hence a lower level of privacy). With physical cash if you take it out of your wallet and give it to me and I put it in my wallet unless there were cameras or an eye witness nobody can prove that the cash changed "wallet addresses".

Who knows perhaps one day in the future Bitcoin will also enter the physical realm. For example some trusted financial institution with public verifiable wallet addresses will have fully collateralized physical tokens (some type of physical coin or something) and each coin will be backed by a certain number of satoshis. And these coins will be redeemable into Bitcoin where if you give the company the physical coin they will send the satoshis to your wallet address. I know this is putting an intermediary in the middle but a lot of the cryptosphere already intermediates into Bitcoin in various ways. In this scenario you would hold the bulk of your Bitcoin in cold storage and you might have a small amount of "physical" bitcoin to cover your occasional spending that you want to be compeltely anonymous.

Its just a thought experiment really.

 

[JayR]

Because the future has not come yet? It’s been 15 years. It will take centuries. Did the first Venetian merchants to use the number 0 envision calculus, relativity or computing? Did the first cave men to use fire imagine cars with internal combustion engines, or rockets taking men to the moon?

Right on. Sometimes a just isn't enough.

 

[RedLagoon]

I always wonder, what if they just flick off the power once everyone is on Bitcoin?

Oh solar panels, sorry...

 

[chance vought]

Who knows perhaps one day in the future Bitcoin will also enter the physical realm. For example some trusted financial institution with public verifiable wallet addresses will have fully collateralized physical tokens (some type of physical coin or something) and each coin will be backed by a certain number of satoshis.

This is the cashu model - except digital. Even the cashu mint (bank) does not know your balance or transactions. It is fully reserved and chaumian e-cash, with the advantage of being interoperable with any other mint (a shortcoming of previous dollar based attempts at e-cash where users could only pay each other if they belonged to the same mint.)

And these coins will be redeemable into Bitcoin where if you give the company the physical coin they will send the satoshis to your wallet address. I know this is putting an intermediary in the middle but a lot of the cryptosphere already intermediates into Bitcoin in various ways. In this scenario you would hold the bulk of your Bitcoin in cold storage and you might have a small amount of "physical" bitcoin to cover your occasional spending that you want to be compeltely anonymous.

Its just a thought experiment really.

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[chance vought]

I always wonder, what if they just flick off the power once everyone is on Bitcoin?

Oh solar panels, sorry...

And the fact that it is decentralized.
What if the godless NWO one world government wanted to delete the Bible? They could burn millions of copies, yet there will be many that remained around the world, on shelves, on computers. It is impossible.

Bitcoin isn’t a centralized company with a CEO - it is hundreds of thousands of people in every country on earth, each one capable of propagating the network. Napster was easily killed - BitTorrent wasn’t and can’t be (BitTorrent was probably an inspiration for how bitcoin operates.)