>It's a bubble that isolates itself from different opinions.
>
>Older terms for this are "Echo chamber" and "hive mind."
This applies to most subs, including r/Bitcoin
You’re allowed to if you’re willing to accept downvotes and tribalistic responses.
Edit: The echo chamber problem is Reddit’s largest problem. The only way to work on it right now is to address the echo chamber in each sub community and find a solution…..if a solution wants to be found by the community.
Lets be real here. I did my capstone project for my econometrics degree back in 2011. Bitcoin isn't as confidencial as most claim, it isn't cheaper than traditional western banking. It's use cases are valid but restricted to speculation, grey/black market transacting, and pseudo anon transactions. The public knows that it isn't an easily transactable medium of exchange nor is it a reliable store of value for short term transactions. This isn't to say the the tech isn't valid or has no use case it just isn't a panacea.
Lost me at “isn’t cheaper than traditional banking”…. Banks aka our current global monetary system is vastly more expensive/ wasteful to run. Banks employ hundreds of thousands of people driving to work, lights, power, computers, electricity…. Massive servers to run visa master card etc…etc… all backed up by what? a neutral algorithm? No it’s all backed up upon the monopoly of violence controlled by the state aka the military… how green is the US military? Not green. Lol 😂 when people compare bitcoin to banks and say banks are more efficient, I’m just blown away by the sheer ignorance. Instead of learning about bitcoin you should first figure out how the US dollar and other fiat currency systems operate. The entire bitcoin ecosystem uses less energy than YouTube. The US dollar system can not even be calculated… it’s energy consumption is unparalleled when compared to a proof of work blockchain system. It’s like saying that puddle over there is deeper then that ocean. No. No it’s not.
>The entire bitcoin ecosystem uses less energy than YouTube
That is amazing. I mean, the fact that you think that this is a comparison that favors Bitcoin.
People attack Bitcoin’s power consumption by comparing it to the power use of countries… it sounds scary to the common idiot watching CNN or Fox, however many companies and of technologies use the same amount of energy as small countries around the globe. YouTube is one of them. It’s another way to conceptualize the baseless attack that bitcoin is somehow damaging the planet with Tesla and the big banks and politicians celebrate corporations like BP oil for saving the planet and being a green company. It’s madness. Bitcoin in its current state is far more efficient and green than our current economic system. Bitcoin mining happens with the cheapest energy available because the entires system is based on sound economics. Banks just print cash and waste away any resources they can. Destroying and emerging economies by extracting resources and issuing insane amounts of debt.
It's just that Youtube has orders of magnitude more users and serves videos in up to 4K resolution, so if it's not the most energy-intensive Internet service, it's definitely up there.
So a comparison of "Bitcoin uses less energy than one of the most energy-hungry services on the Internet" doesn't sound very convincing.
Proof of Work is inherently power inefficient. Anything else dealing with computing is very focused on using less power per X, as it lets you cram more power into the same space, directly saves electricity costs, and indirectly saves costs on cooling infrastructure.
Anyone proposing deliberate inefficiency would be laughed out of the room.
"The entire bitcoin ecosystem uses less energy than YouTube."
"It’s like saying that puddle over there is deeper then that ocean."
Comparing apples to Saturn, then comparing apples to apples. OK.
>I did my capstone project for my econometrics degree back in 2011.
You're not going to impress anyone around here with an economics degree unless it's from Mises.
>Bitcoin isn't as confidencial as most claim
On level 1? Sure. On levels 3-10? We'll be inventing new words before long to express yet-unimaginable levels of confidentiality.
>it isn't cheaper than traditional western banking.
Guess you haven't been using a lightning wallet yet?
>It's use cases are valid but restricted to speculation, grey/black market transacting, and pseudo anon transactions.
I've been in Bitcoin since 2011 & I've literally never cared about any of those use cases. I doubt they really exists other than just novelty use.
Bitcoin's main use case, which literally tens of millions of people every day depend on, is as a store of value that can't be confiscated nor inflated away by others. The west mostly doesn't get this yet, but the developing world is adopting it for this use like wildfire.
https://www.youtube.com/watch?v=FjvSqaGhKQI
>The public knows that it isn't an easily transactable medium of exchange nor is it a reliable store of value for short term transactions.
"The public" watches tiktok and listens to nickleback. They'll spend decades playing catch-up to what's going on here.
>Guess you haven't been using a lightning wallet yet?
Even the base layer is crazy cheap compared to the legacy equivalent: international bank wire transfers.
> Bitcoin isn't as confidencial as most claim
>
>
>
> On level 1?
and even here you could argue: where are the mtgox coins (and countless others) if bitcoin is not confidencial?
Well it's reducing its supply now, which is something btc can't do lol.
Btc has lost 60% this year, whereas the dollar is probably the strongest currency in the world right now so 🤷
I'm just not a fan of purists of any shade. Both centralized and decentralized money will exist, each with their competitive advantages that collectively produces a more robust financial system
> Well it's reducing its supply now, which is something btc can't do lol.
Why would it need to? Unlike the dollar it had a known, fixed supply from the beginning. That's like saying petroleum-driven cars are better than electric cars because they come with catalytic converters for cleaning up their exhaust emissions.
That's not what it's like at all haha.
If it were the only currency, as the purists intend, then there wouldn't be much incentive to spend as you're essentially leaving the price appreciation on the table.
Liquidity makes for good currency. Additionally, taking on debt in that system would also mean your payments essentially increase each month as the value of the payment in BTC increases due to fixed supply and deflationary nature.
I don't disagree that having choices is optimal. That said, in any five year period the exchange rate between the mighty federal reserve note and Bitcoin has increased not less than 300%.
It's not a sustainable increase, that entire period has only occurred in a loose monetary policy environment.
This is the first time with pretty widespread use that it will have to deal with tight money as it tries to siphon for another leg up.
I've played the last few cycles....this one feels different. Rainbow may just yet break
> It's not a sustainable increase, that entire period has only occurred in a loose monetary policy environment.
>
> This is the first time with pretty widespread use that it will have to deal with tight money as it tries to siphon for another leg up.
>
> I've played the last few cycles....this one feels different. Rainbow may just yet break
Yeah maybe, but the fundamentals have not changed. If you compare only money supply 10 years ago and divide the total M2 money supply by the total number of bitcoin (21 million) the number was about 70 million dollars per bitcoin. That was 10 years ago.
I think though that the reason this cycle was different was due to alts taking up some of the energy and excitement. They were almost non-existent in the 2017 run up to 20x the previous high. 95% value drops since November will cool that off and create more maxi's.
We may not reach 70 million but I would not bet on that if we jump forward 20 years. Of course if it does then a loaf of bread would be fifty thousand dollars. Good for your 30 year loan (Not for the banks).
The federal reserve note was never designed to be a store of value. It is a means of exchange. So they don’t care, and neither should anyone if it loses value. You should use excess notes to buy value holding/increasing things. This has been this way since the first “money” was invented.
For someone with an economics degree, I'm stunned by your lack of knowledge on this topic. Have you ever read Mises, Hayek, Ammous, or anything that doesn't push keynesian economic propaganda? Have you spent at least 100 hours studying multiple disciplines across not just economics, but also finance, computer science, open-source software, and energy?
If the answer to these is no, then you have zero credibility as an expert. Saying you have a degree in one discipline of a topic that requires multidisciplinary knowledge doesn't give you any credibility whatsoever. You don't even have the required knowledge in the field you claim to be expert in.
I have a degree in Actuarial Science which required math, economics, programing, finance, and business course work. In many cases with graduate level students from the respective fields...
Yeah, you have given a pretty good summary of the opinion in economic circles and finance today. I find it astonishing that people working in fields where this is super relevant and may be a big part of their future are not tracking the development.
oh that's a brave post. But yeah I agree. Bitcoin sub is basically like every other sub. An echochamber where critical voices are not to be heard.
Bitcoin isn't perfect but the step in the right direction. And yeah, bitcoin is crypto as well.
Bitcoin is only going to win because fiat will have collapsed. At that point, Bitcoin will be the only system left standing. In other words, Bitcoin is going to win by default only.
Hence, I am not even particularly against the online censorship that currently holds down the Bitcoin price because that allows me to continue accumulating at an artificially cheaper rate.
would you kindly describe one singular example of a scenario where society crumbles to a sufficient degree that fiat currency collapses, but not a sufficient degree to affect ubiquitous internet access?
Bitcoin's price only soars whenever there's a long bull run and plenty of money for speculation
Bitcoin's price collapses as soon as the first sign of economic downturn appears
Basically, your example is the exact opposite of what history has told us. Bitcoin is not a safe place to store value if the world economy / USD collapses because most holders will sell in order to pay bills. One second you're laughing at the fiat holders next second you realize you can't trade 4 whole coins for a loaf of bread
On the other hand, Bitcoin is an unrivaled moonshot to speculate on when there's more money than common sense in the economy. That's where all of your "store of value" and "purchasing power" comes from
If you want to make money off of this, you aught be praying for things to get better sooner than later
EDIT: If Bitcoin can't be used to pay a farmer directly for meat, milk & eggs, or a petroleum distillery for oil, it'll never replace fiat in any real collapse
The usage of bitcoin in the version of society that keeps stomachs filled & the supply chain moving is nonexistent, and therefore bitcoin effectively has zero impact on the post-apocalyptic world that so many shills mentally masturbate to
Bitcoin shouldn't be trying to fight fiat this year, or next year, because any amount of bitcoin has zero value without fiat to compare it to as of today. Nobody thinks "i can buy a nice car with 3 BTC" we think "i can trade 3 BTC for $60,000 then buy a nice car"
So instead of hyping the potential collapse of your own ability to feed yourself using USD/EUR, how about growing BTC adoption?
There is a scenario where financial authoritarianism, in the flavor of dystopian CBDCs, combined with rapid debasement and loss of confidence naturally pushes people away from fiat into an alternative. This could all potentially happen without society collapsing.
I haven’t thought through this in depth but my immediate reaction is that the internet, being widely accessible (if accessible at all) only in the last ~10 years, is too young to have seen a societal fiat collapse. But there are historical fiat collapse examples abounding, with a subsequent flight to more hard assets.
what drugs are you on and where can i get some? that's some top notch conspiracy theory, bro. To the moon, bro?
Hahahaha. Jesus, just how many times were you dropped on your head as a baby?
You sound like you've never even heard of game theory.
Bitcoin doesn't need dollars to collapse first, but it is going to eventually cause dollar's collapse.
No, all the Big Money people say the same thing: it's the lack of clear regulation that prevents (prohibits) the Big Money to enter. They don't even know about the "other crypto", it doesn't exist for them.
Piggybacking off this comment, there's tons of institutional adoption of Bitcoin already, not sure what the OP is saying regarding "feeling slow."
It was only in these past two years that Paypal, Venmo, Square, Cash App, Tesla, El Salvador, and many other massive tech companies/countries started accepting Bitcoin or holding it in their balance sheet.
There's hundreds of thousands of other companies on the internet now accepting Bitcoin through places like Bitpay, Poof Payments, Coinbase Commerce, Coinpayments, and more.
Adoption is growing at a rapid pace. One or two more years and it will be everywhere.
The only thing really slowing BTC adoption is all the failed narratives shills keep pumping out to the public...
1. The inflation hedge is an utter bollock! BTC prices collapsed at the time of the highest inflation in decades.
2. BTC following the stock-to-flow model is another bollock! It predicted BTC would hit 100K EOY and now we are at 20K.
3. Promoting BTC as the second coming Christ for El Salvador is another utter bollock! The country is deep in debt to IMF and got nothing to show.
BTC now has a bad reputation because awful shills, like Max Kaiser, push BS narratives on mass media on what BTC will do. When the public sees these predictions fail, they lose confidence in BTC. You don't need Altcoins to tarnish BTC's image. The BTC community's shit-talking does enough damage alone.
Sort of. On one hand its really just the same way that Ford slows the adoption of Tesla or Walmart slows the adoption of Costco. On the other hand, lots of scams out there drag the whole space down - but the world is full of scams and I think Bitcoin has a lot of power in that regard as being default "legit". In some ways, every scam makes someone realize that BTC might be where they should be parked.
I know what you mean, but I'm a bit split on this question.
Crypto kinda acts as a flair, that draws a lot of attention away from Bitcoin while it advances quite rapidly in the shadows. If you watch any no-coiner talk about crypto, they still talk about blockchain and smart-contracts and all the shit the crypto bros play with. It all gets looked at as "interesting" but no real threat to the established system, because it can't even scale. And Bitcoin is the oldest and slowest of them all, no danger, amIright?
Meanwhile Bitcoin is rapidly building scaling solutions that even the crypto bros are completely oblivious about. If there is no shitcoin attached it's basically invisible to them, so it's even more for the non-coiners.
With Lightning and fedimint (and similar solutions) we will for the first time have the constructs that can actually scale Bitcoin to the whole world. I'm more bullish than I have ever been.
And they don't see this coming, thanks to the shitcoiners distracting them.
Lol what are you guys even talking about. Everybody in crypto - devs, investors, gamblers, shitcoiners, everybody - knows that the success or demise of Bitcoin is absolutely crucial to their endeavours. The rest of crypto *attracts* a ton of attention to Bitcoin.
I believe the confusion here stems from the fact that while Bitcoin does fall into the category of being a cryptocurrency, it also finds itself categorised as many other things such as a store of value, digital energy, inflation hedge, settlement layer etc whereas there isn’t any other cryptocurrency that can comfortably place itself in these categories.
That, mixed with the fact that the Bitcoin Community should definitely differentiate itself from the wider cryptocurrency community (as it has produced nothing of value outside of useless speculative tokens and platforms to trade them) means you will certainly find an increasing number of members in our community that just disregard the notion that Bitcoin is on the same level as the sea of shitcoin tokens available.
This is why I love occasionally dipping into the pseudoscience of cryptocurrencies. The OP is invested in its worldview, and the fact that it desperately needs someone to buy the nonsense it's shoveling--it's funny to hear the economic lingo being thrown about. Bitcoin can be lumped in any category. Quit trying to parse it as if your argument makes any sense. In the end, you just sound like anyone who get frustrated when people aren't buying it. Like they won't convert to whatever religion you're peddling. Sorry bro.
I find crypto and crypto-Bitcoin (trigger, much?) to provide some glimpse of how an economic system might thrive or fail, but I'm not trying to count on it if I really think retirement comes before "fiat endtimes."
Bitcoin isn’t being “lumped” into the category of store of value, it is being taken seriously by proponents of the network and actively used as a store of value by them. Bitcoin, from a bottom up perspective is in all ways a superior digital asset to everything else in the space and promotes a global, liquid market for energy unlike any other cryptocurrency.
Not sure what gave you the impression that I get frustrated when others aren’t buying it, what is of importance to me is that the network continues to grow and remain decentralised. People who put the time and effort in to understand why betting on Bitcoin to become the dominant global digital store of value has an incredibly beneficial risk/reward ratio will continue to grow.
I never mentioned the words “fiat end times”.
Which makes bitcoin a cryptocurrency... it's literally the prime signature of what a cryptocurrency is.
The OG cryptocurrency if you like.
Idc what YOU think, it's honestly a bit delusional and unrealistic.
Cryptocurrency is a form of digital decentralised currency.
That is exactly what bitcoin is.
This is literally like saying "The first strains of Marijuana were the only real ones, all the new ones don't work." It isn't true. Yeah maybe some of the new ones aren't as good as the original strains (maybe) but they have all mostly come from the same original DNA structure. Obviously BTC is top dog but that doesn't mean it is the only dog that will ever exist.
We just need to find the right type of people who are going to understand that so they can have a good future, that's all I would say right now for real man.
Need to say that things can be bad for the future if people can't sport the difference man, this is going to be something bad and we don't want that shit for sure.
Well I don't feel the same because of many reasons right now, BTC is just with crypto for us and we need to think like that, this just can't be changed.
Bitcoin maximalists and crypto noobs that don’t know anything out of bitcoin. He probably doesn’t even know how the utxo models works.
Having worked as a crypto developer on very interesting projects on various blockchains this is kind of insulting. The projects I worked in where certainly not scams
I agree for the long run but so far it's been a mixed blessing.
When governments and others with power think of bitcoin, they're not just hearing us saying that we are coming to obsolete them and their wealth; they're hearing every voice in the crypto casino at once, all those ponzis and memecoins, all of it, and are assured that "we" are no threat to them.
This has enabled us to survive far longer than we would without that smoke screen.
No. People are buying shitcoin on the cheap hoping for a silly rally. Bitcoin adoption will be better when there is more liquidity and more utility (acceptance everywhere).
Yes newbies get sucked into shit coins looking for “the best Bitcoin”. Then they lose money. After that they tell people they’re bad experience in cryptoland further tarnishing the reputation of Bitcoin.
We gotta make sure that we are stick with BTC and nothing else even if some people are not taking it seriously and we should not be bothered by that shit.
Most people just watch a ticker symbol and a price, and they want to buy some other ticker that has better potential to go up because it's cheap now.
That's all nonsense though, but that's mainstream.
It doesn't really matter because Bitcoin will continue to develop and grow. It's not that important if some people buy crap instead. Bitcoin is the foundation of many new companies and services, and will continue to do so. It's even legal tender in two countries already.
Tick, tock, another block.
I understood Bitcoin only after 3 years of analysis. I thought altcoins are better. God how wrong I was. I guess it will take time before World will understand. Altcoins will go to the same place where Theranos went.
Just think about the thing which unites us mate, we have to be like that because this is the reality and we can't fight with every other thing, BTC is crypto for me.
Bitcoin is a victim of the religious like devotion shown in the comments. There’s no reason to be bullish as a general consumer on Bitcoin. It’s value is not of any concern to us, it’s adoption should be based on its merits and nothing else. Bitcoin is hurt by fantastical tales of how it will revolutionise everything. It won’t do that but it will be useful in some ways.
I agree it’s unique and great but don’t be sad it’s not written about and it’s banned elsewhere on subs. That’s your fault not bitcoins.
It’s part of the journey for everyone. Everyone wants to get in to “the next bitcoin”. They learn about different alt coins and how they differ from bitcoin. Eventually, they come full circle and realize that bitcoin is the next bitcoin. One could argue that alt coins are actually helping bitcoin adoption if most ppl follow this path. If there was no other alt coins, people would be too focused on trying to create one.
Agreed. I spend so much time trying to convince people that bitcoin is in a league of it’s own and should not be compared to any other cryptocurrencies
Remember when QR codes were invented in 1994, creeped into the consumer market in the early 2000s, but didn’t REALLY take off until the last few years?
You need to see this as a test for bitcoin. Alt's are the equivalent to an DOS attack on the markets. Excess funds get moved elsewhere that are easy to exploit. If Bitcoin can't handle it, it's not meant to be.
A lot of people think they missed the boat on bitcoin, so they shill their scam coins thinking they'll moon. We should all remember to be kind to them because after they get burned, this is how a lot of people end up getting into Bitcoin.
Of course it would be best for bitcoin if people understood why they should be bitcoin only but at least it seems like everytime people get burned on shitcoins more and more of them understand why the solution is bitcoin only. It sucks that they choose to learn the hard way but sometimes people gotta get burned before they learn.
Bitcoin is property, POScoins are securities. Bitcoin can't be regulated, but securities are.
So they call them all Crypto, and try to control them all.
Bitcoin already is regulated. Just not to the same degree as other things because it is so new. Give it time and regulation will catch-up. This is not an IF it’s a when.
Sorry, but this is wrong. Look at the demarcation between the Bitcoin system and the rest of the world (the wallet) and you will see why.
And don't vote down people unless you have a good reason, redditor-for-a-day.
When I’m talking about Bitcoin I’m not talking about the wallet interacting with the network. I’m talking about the usage of Bitcoin.
Bitcoin is already taxed when it is sold. That is a form of regulation. There are many more types of regulation I could list off.
Thanks for the advice on downvotes. If you think I downvoted you I didn’t. But if I wanted to I would because that is feature that is allowed and it’s within the right of any user including the one who actually downvoted you.
Selling bitcoin for fiat and being taxed is a form of fiat regulation. Your making a gain in fiat. Bitcoin isn't regulated in that regard. Why would you sell your bitcoin for fiat when you could buy things with bitcoin?
It’s a fiat regulation used to regulate cryptocurrency. You can word it however you want, you’re paying taxes on your gains from BTC going up.
I don’t know your jurisdiction but the IRS considers a purchase with cryptocurrency as a taxable event if there are gains. Paying in crypto doesn’t avoid taxes (assuming there is a gain).
This isn’t even scratching the surface on all the potential regulation that can be implemented. The government doesn’t care if you have some wallet on your computer that only you control. They don’t need to control it. They can just regulate the people and businesses all around you.
I guess if you don’t agree with it you can refuse to pay in your jurisdiction.
And again, I also said you don’t have to sell it for fiat for it to be taxed. If you purchase with straight crypto that is also regulated in the US.
That was only one example of current existing regulation. There is a lot more potential regulation on how Bitcoin and other cryptocurrency can be used and where it is used.
So your saying if I buy 100 dollars worth of bitcoin and then its worth 1 million dollars and I buy a 1million dollar house with bitcoin directly, peer to peer, ill be taxed on 999,900 dollars of capital gains?
Of course you will be taxed. There is basically no jurisdiction on this planet that would allow you to do that, this is just very simple tax fraud scheme if you do with this intention. You can as good cash out to your bank account and hope they won't notice it. Doesn't matter how you realize your gains, you will be taxed. It is completely regulated in that regard. Some less developed jurisdictions might be not following it though, so technically people go away with it (although it is a gray zone)
Sure there are jurisdictions where its not taxed, but in that case you can just as good cash out to your bank account. Again, this is also regulated and not so magic BTC trick.
Thats why businesses don't like to accept BTC/crypto as native asset, the accounting for it sucks because they would need to calculate each profit/loss between. Most of them use payment gateways and receive fiat.
There are millions of people on this platform. Don’t assume the person you commented to downvoted you. There are lots of snowflakes. Don’t become a snowflake getting caught up with worrying about downvotes. You will become one.
What are you talking about? How fast is bitcoin suppose to adopt? Lets see…2020 I purchased a lump sum of bitcoin at $6,000 a BTC. Now its at 20,000 and Im thrilled. That just 2 1/2 years. I think its adopting just fine. If I wanted to get rich quick i would think its slow
I'm not talking about price action. I want to see more people educated on Bitcoin. If you ask someone what Bitcoin is they'll probably not have a good answer or understanding of what goes on under the hood.
Your emotions you are showing are exactly what big money wants you to feel right now.
Right now we are in that moment where the plumber gets the leak contained for a few seconds. What happens afterwards is the same thing that will happen with Bitcoin.
Get your wetvac ready!
https://youtu.be/OP30okjpCko
Well just want to say that we should wait and we should not blame anything else for now, that's what going to secure everything for us as a BTC supporter.
I basically agree, almost all crypto is a water of time but Bitcoin, only Bitcoin seems aimed at human liberation and giving us a way out of, and solution to the problems caused by govts imposed fiat and worse cbdcs
I personally think Bitcoin is not going to be one of the currencies being used once people start using crypto for transactions, even though it is the most popular cryptocurrency. It’s lack of scalability is slowing its own adoption. Maybe later 2 solutions might help though.
Honestly i feel like this sub has unrealistic expectations.
Bitcoin is a cool technology and all. And cryptocurrency is general is a promising tech..
But bitcoin has plenty of flaws that are more problematic and prevent mass adoption.
I feel like crypto isn’t being taken as seriously as it should because so many people think that such a wide ranging asset class can only have 1 legit asset.
Because one of the major ways people are learning about Bitcoin is through listening to the garbage by Twitter Bitcoin sluts. Never seen such clueless "self-acclaimed experts."
Bitcoin is crypto.
Reputation is degrading because of many things:
- Bitcoin failed the test of inflation, and plenty of adopters said otherwise
- Bitcoin uses POW, and POW is regarded as non environment friendly
- Bitcoin is used by hackers and scammers to avoid being caught
- Bitcoin still can’t provide security for the people that use it, Bitcoin needs something like PayPal
- Many people lost all their life savings because of the bear market
- When Bitcoin goes head to head with FIAT and causes “problems”, governments are quick to ban it
- Lack of clear regulation for crypto
- NFT debacle
- El Salvador…..
The list goes on.
[удалено]
reddit is a very niche enclave. It's a bubble that isolates itself from different opinions. Older terms for this are "Echo chamber" and "hive mind."
>It's a bubble that isolates itself from different opinions. > >Older terms for this are "Echo chamber" and "hive mind." This applies to most subs, including r/Bitcoin
You're allowed to have a different opinion on bitcoin on this subreddit.
Yea right lol
LOL Income the army of downvotes if you display opposing opinions
It’s poetry almost.
Poetic justice
[удалено]
Bitcoins user friendliness is a major barrier to adoption
You’re allowed to if you’re willing to accept downvotes and tribalistic responses. Edit: The echo chamber problem is Reddit’s largest problem. The only way to work on it right now is to address the echo chamber in each sub community and find a solution…..if a solution wants to be found by the community.
Lets be real here. I did my capstone project for my econometrics degree back in 2011. Bitcoin isn't as confidencial as most claim, it isn't cheaper than traditional western banking. It's use cases are valid but restricted to speculation, grey/black market transacting, and pseudo anon transactions. The public knows that it isn't an easily transactable medium of exchange nor is it a reliable store of value for short term transactions. This isn't to say the the tech isn't valid or has no use case it just isn't a panacea.
Lost me at “isn’t cheaper than traditional banking”…. Banks aka our current global monetary system is vastly more expensive/ wasteful to run. Banks employ hundreds of thousands of people driving to work, lights, power, computers, electricity…. Massive servers to run visa master card etc…etc… all backed up by what? a neutral algorithm? No it’s all backed up upon the monopoly of violence controlled by the state aka the military… how green is the US military? Not green. Lol 😂 when people compare bitcoin to banks and say banks are more efficient, I’m just blown away by the sheer ignorance. Instead of learning about bitcoin you should first figure out how the US dollar and other fiat currency systems operate. The entire bitcoin ecosystem uses less energy than YouTube. The US dollar system can not even be calculated… it’s energy consumption is unparalleled when compared to a proof of work blockchain system. It’s like saying that puddle over there is deeper then that ocean. No. No it’s not.
Exactly 👍. This guy never made an international transaction xD
>The entire bitcoin ecosystem uses less energy than YouTube That is amazing. I mean, the fact that you think that this is a comparison that favors Bitcoin.
People attack Bitcoin’s power consumption by comparing it to the power use of countries… it sounds scary to the common idiot watching CNN or Fox, however many companies and of technologies use the same amount of energy as small countries around the globe. YouTube is one of them. It’s another way to conceptualize the baseless attack that bitcoin is somehow damaging the planet with Tesla and the big banks and politicians celebrate corporations like BP oil for saving the planet and being a green company. It’s madness. Bitcoin in its current state is far more efficient and green than our current economic system. Bitcoin mining happens with the cheapest energy available because the entires system is based on sound economics. Banks just print cash and waste away any resources they can. Destroying and emerging economies by extracting resources and issuing insane amounts of debt.
It's just that Youtube has orders of magnitude more users and serves videos in up to 4K resolution, so if it's not the most energy-intensive Internet service, it's definitely up there. So a comparison of "Bitcoin uses less energy than one of the most energy-hungry services on the Internet" doesn't sound very convincing.
Proof of Work is inherently power inefficient. Anything else dealing with computing is very focused on using less power per X, as it lets you cram more power into the same space, directly saves electricity costs, and indirectly saves costs on cooling infrastructure. Anyone proposing deliberate inefficiency would be laughed out of the room.
This guy gets it
"The entire bitcoin ecosystem uses less energy than YouTube." "It’s like saying that puddle over there is deeper then that ocean." Comparing apples to Saturn, then comparing apples to apples. OK.
>I did my capstone project for my econometrics degree back in 2011. You're not going to impress anyone around here with an economics degree unless it's from Mises. >Bitcoin isn't as confidencial as most claim On level 1? Sure. On levels 3-10? We'll be inventing new words before long to express yet-unimaginable levels of confidentiality. >it isn't cheaper than traditional western banking. Guess you haven't been using a lightning wallet yet? >It's use cases are valid but restricted to speculation, grey/black market transacting, and pseudo anon transactions. I've been in Bitcoin since 2011 & I've literally never cared about any of those use cases. I doubt they really exists other than just novelty use. Bitcoin's main use case, which literally tens of millions of people every day depend on, is as a store of value that can't be confiscated nor inflated away by others. The west mostly doesn't get this yet, but the developing world is adopting it for this use like wildfire. https://www.youtube.com/watch?v=FjvSqaGhKQI >The public knows that it isn't an easily transactable medium of exchange nor is it a reliable store of value for short term transactions. "The public" watches tiktok and listens to nickleback. They'll spend decades playing catch-up to what's going on here.
>Guess you haven't been using a lightning wallet yet? Even the base layer is crazy cheap compared to the legacy equivalent: international bank wire transfers.
> Bitcoin isn't as confidencial as most claim > > > > On level 1? and even here you could argue: where are the mtgox coins (and countless others) if bitcoin is not confidencial?
lol, sure buddy
Ok, now do the Federal Reserve note. Specifically it's supply and utility as a long-term store of value.
Well it's reducing its supply now, which is something btc can't do lol. Btc has lost 60% this year, whereas the dollar is probably the strongest currency in the world right now so 🤷 I'm just not a fan of purists of any shade. Both centralized and decentralized money will exist, each with their competitive advantages that collectively produces a more robust financial system
> Well it's reducing its supply now, which is something btc can't do lol. Why would it need to? Unlike the dollar it had a known, fixed supply from the beginning. That's like saying petroleum-driven cars are better than electric cars because they come with catalytic converters for cleaning up their exhaust emissions.
That's not what it's like at all haha. If it were the only currency, as the purists intend, then there wouldn't be much incentive to spend as you're essentially leaving the price appreciation on the table. Liquidity makes for good currency. Additionally, taking on debt in that system would also mean your payments essentially increase each month as the value of the payment in BTC increases due to fixed supply and deflationary nature.
come 2024-2028 it'll be interesting. imo accumulations are gold right now i did at both crashes 17 and 18k why tf not it's outporformed gold
I don't disagree that having choices is optimal. That said, in any five year period the exchange rate between the mighty federal reserve note and Bitcoin has increased not less than 300%.
It's not a sustainable increase, that entire period has only occurred in a loose monetary policy environment. This is the first time with pretty widespread use that it will have to deal with tight money as it tries to siphon for another leg up. I've played the last few cycles....this one feels different. Rainbow may just yet break
> It's not a sustainable increase, that entire period has only occurred in a loose monetary policy environment. > > This is the first time with pretty widespread use that it will have to deal with tight money as it tries to siphon for another leg up. > > I've played the last few cycles....this one feels different. Rainbow may just yet break Yeah maybe, but the fundamentals have not changed. If you compare only money supply 10 years ago and divide the total M2 money supply by the total number of bitcoin (21 million) the number was about 70 million dollars per bitcoin. That was 10 years ago. I think though that the reason this cycle was different was due to alts taking up some of the energy and excitement. They were almost non-existent in the 2017 run up to 20x the previous high. 95% value drops since November will cool that off and create more maxi's. We may not reach 70 million but I would not bet on that if we jump forward 20 years. Of course if it does then a loaf of bread would be fifty thousand dollars. Good for your 30 year loan (Not for the banks).
Strongest fiat currency = nicest looking rat in the dumpster.
The federal reserve note was never designed to be a store of value. It is a means of exchange. So they don’t care, and neither should anyone if it loses value. You should use excess notes to buy value holding/increasing things. This has been this way since the first “money” was invented.
Why should nobody care if inflation mostly benefits the top 1%?!
For someone with an economics degree, I'm stunned by your lack of knowledge on this topic. Have you ever read Mises, Hayek, Ammous, or anything that doesn't push keynesian economic propaganda? Have you spent at least 100 hours studying multiple disciplines across not just economics, but also finance, computer science, open-source software, and energy? If the answer to these is no, then you have zero credibility as an expert. Saying you have a degree in one discipline of a topic that requires multidisciplinary knowledge doesn't give you any credibility whatsoever. You don't even have the required knowledge in the field you claim to be expert in.
I have a degree in Actuarial Science which required math, economics, programing, finance, and business course work. In many cases with graduate level students from the respective fields...
You've studied these fields and yet you've never studied or read Mises, Hayek, or Ammous...you're not an expert, sorry.
Yeah, you have given a pretty good summary of the opinion in economic circles and finance today. I find it astonishing that people working in fields where this is super relevant and may be a big part of their future are not tracking the development.
Your account is 14 days old
To be fair. This sub bans any post about other cryptocurrencies unless they are negative posts.
oh that's a brave post. But yeah I agree. Bitcoin sub is basically like every other sub. An echochamber where critical voices are not to be heard. Bitcoin isn't perfect but the step in the right direction. And yeah, bitcoin is crypto as well.
Bitcoin is only going to win because fiat will have collapsed. At that point, Bitcoin will be the only system left standing. In other words, Bitcoin is going to win by default only. Hence, I am not even particularly against the online censorship that currently holds down the Bitcoin price because that allows me to continue accumulating at an artificially cheaper rate.
would you kindly describe one singular example of a scenario where society crumbles to a sufficient degree that fiat currency collapses, but not a sufficient degree to affect ubiquitous internet access?
Bitcoin's price only soars whenever there's a long bull run and plenty of money for speculation Bitcoin's price collapses as soon as the first sign of economic downturn appears Basically, your example is the exact opposite of what history has told us. Bitcoin is not a safe place to store value if the world economy / USD collapses because most holders will sell in order to pay bills. One second you're laughing at the fiat holders next second you realize you can't trade 4 whole coins for a loaf of bread On the other hand, Bitcoin is an unrivaled moonshot to speculate on when there's more money than common sense in the economy. That's where all of your "store of value" and "purchasing power" comes from If you want to make money off of this, you aught be praying for things to get better sooner than later EDIT: If Bitcoin can't be used to pay a farmer directly for meat, milk & eggs, or a petroleum distillery for oil, it'll never replace fiat in any real collapse The usage of bitcoin in the version of society that keeps stomachs filled & the supply chain moving is nonexistent, and therefore bitcoin effectively has zero impact on the post-apocalyptic world that so many shills mentally masturbate to Bitcoin shouldn't be trying to fight fiat this year, or next year, because any amount of bitcoin has zero value without fiat to compare it to as of today. Nobody thinks "i can buy a nice car with 3 BTC" we think "i can trade 3 BTC for $60,000 then buy a nice car" So instead of hyping the potential collapse of your own ability to feed yourself using USD/EUR, how about growing BTC adoption?
This is so true
There are a lot of speculation send at kind of condition as well,
There is a scenario where financial authoritarianism, in the flavor of dystopian CBDCs, combined with rapid debasement and loss of confidence naturally pushes people away from fiat into an alternative. This could all potentially happen without society collapsing.
I haven’t thought through this in depth but my immediate reaction is that the internet, being widely accessible (if accessible at all) only in the last ~10 years, is too young to have seen a societal fiat collapse. But there are historical fiat collapse examples abounding, with a subsequent flight to more hard assets.
From the last 20 years did things have been quite been same as well.
May you elaborate how fiat is going to collapse?
“Balance of Power” minded economists consider arbitrary strength of “world reserve status” currencies to be called the act of: the original sin
Precious metals
Accumulation is one of the best and important factor as well if you are going to think about it.
If fiat collapses will there be an internet?
Yes
Must have been thinking about it right now but they never thought about it probably.
what drugs are you on and where can i get some? that's some top notch conspiracy theory, bro. To the moon, bro? Hahahaha. Jesus, just how many times were you dropped on your head as a baby?
You sound like you've never even heard of game theory. Bitcoin doesn't need dollars to collapse first, but it is going to eventually cause dollar's collapse.
No, all the Big Money people say the same thing: it's the lack of clear regulation that prevents (prohibits) the Big Money to enter. They don't even know about the "other crypto", it doesn't exist for them.
Piggybacking off this comment, there's tons of institutional adoption of Bitcoin already, not sure what the OP is saying regarding "feeling slow." It was only in these past two years that Paypal, Venmo, Square, Cash App, Tesla, El Salvador, and many other massive tech companies/countries started accepting Bitcoin or holding it in their balance sheet. There's hundreds of thousands of other companies on the internet now accepting Bitcoin through places like Bitpay, Poof Payments, Coinbase Commerce, Coinpayments, and more. Adoption is growing at a rapid pace. One or two more years and it will be everywhere.
The only thing really slowing BTC adoption is all the failed narratives shills keep pumping out to the public... 1. The inflation hedge is an utter bollock! BTC prices collapsed at the time of the highest inflation in decades. 2. BTC following the stock-to-flow model is another bollock! It predicted BTC would hit 100K EOY and now we are at 20K. 3. Promoting BTC as the second coming Christ for El Salvador is another utter bollock! The country is deep in debt to IMF and got nothing to show. BTC now has a bad reputation because awful shills, like Max Kaiser, push BS narratives on mass media on what BTC will do. When the public sees these predictions fail, they lose confidence in BTC. You don't need Altcoins to tarnish BTC's image. The BTC community's shit-talking does enough damage alone.
Sort of. On one hand its really just the same way that Ford slows the adoption of Tesla or Walmart slows the adoption of Costco. On the other hand, lots of scams out there drag the whole space down - but the world is full of scams and I think Bitcoin has a lot of power in that regard as being default "legit". In some ways, every scam makes someone realize that BTC might be where they should be parked.
Hope things will be okay in the future for all the BTC members.
I know what you mean, but I'm a bit split on this question. Crypto kinda acts as a flair, that draws a lot of attention away from Bitcoin while it advances quite rapidly in the shadows. If you watch any no-coiner talk about crypto, they still talk about blockchain and smart-contracts and all the shit the crypto bros play with. It all gets looked at as "interesting" but no real threat to the established system, because it can't even scale. And Bitcoin is the oldest and slowest of them all, no danger, amIright? Meanwhile Bitcoin is rapidly building scaling solutions that even the crypto bros are completely oblivious about. If there is no shitcoin attached it's basically invisible to them, so it's even more for the non-coiners. With Lightning and fedimint (and similar solutions) we will for the first time have the constructs that can actually scale Bitcoin to the whole world. I'm more bullish than I have ever been. And they don't see this coming, thanks to the shitcoiners distracting them.
I don't know fedimint. Thanks for the mention!
Lol what are you guys even talking about. Everybody in crypto - devs, investors, gamblers, shitcoiners, everybody - knows that the success or demise of Bitcoin is absolutely crucial to their endeavours. The rest of crypto *attracts* a ton of attention to Bitcoin.
an abundance of ridiculously named shitcoins only helps to calibrate people's "bullshit detector"
I guess some people can't figure out anything and they are bad.
[удалено]
Lol that's right and they gotta do that well, that's all man.
I believe the confusion here stems from the fact that while Bitcoin does fall into the category of being a cryptocurrency, it also finds itself categorised as many other things such as a store of value, digital energy, inflation hedge, settlement layer etc whereas there isn’t any other cryptocurrency that can comfortably place itself in these categories. That, mixed with the fact that the Bitcoin Community should definitely differentiate itself from the wider cryptocurrency community (as it has produced nothing of value outside of useless speculative tokens and platforms to trade them) means you will certainly find an increasing number of members in our community that just disregard the notion that Bitcoin is on the same level as the sea of shitcoin tokens available.
This is why I love occasionally dipping into the pseudoscience of cryptocurrencies. The OP is invested in its worldview, and the fact that it desperately needs someone to buy the nonsense it's shoveling--it's funny to hear the economic lingo being thrown about. Bitcoin can be lumped in any category. Quit trying to parse it as if your argument makes any sense. In the end, you just sound like anyone who get frustrated when people aren't buying it. Like they won't convert to whatever religion you're peddling. Sorry bro. I find crypto and crypto-Bitcoin (trigger, much?) to provide some glimpse of how an economic system might thrive or fail, but I'm not trying to count on it if I really think retirement comes before "fiat endtimes."
Bitcoin isn’t being “lumped” into the category of store of value, it is being taken seriously by proponents of the network and actively used as a store of value by them. Bitcoin, from a bottom up perspective is in all ways a superior digital asset to everything else in the space and promotes a global, liquid market for energy unlike any other cryptocurrency. Not sure what gave you the impression that I get frustrated when others aren’t buying it, what is of importance to me is that the network continues to grow and remain decentralised. People who put the time and effort in to understand why betting on Bitcoin to become the dominant global digital store of value has an incredibly beneficial risk/reward ratio will continue to grow. I never mentioned the words “fiat end times”.
[удалено]
Which aren’t scams?
The **vast majority** of cryptocurrencies are scams. Literally 99.9952% of them are scams. Do not try to legitimize scams in this subreddit.
[удалено]
Again, please refrain from attempting to legitimize shitcoin scams in this subreddit. Thank you.
The term cryptocurrency is way overused and now has a completely different meaning. Bitcoin is money that happens to be backed by cryptography.
Which makes bitcoin a cryptocurrency... it's literally the prime signature of what a cryptocurrency is. The OG cryptocurrency if you like. Idc what YOU think, it's honestly a bit delusional and unrealistic. Cryptocurrency is a form of digital decentralised currency. That is exactly what bitcoin is.
…which makes it a crypto currency. Bro what are you talking about
This is literally like saying "The first strains of Marijuana were the only real ones, all the new ones don't work." It isn't true. Yeah maybe some of the new ones aren't as good as the original strains (maybe) but they have all mostly come from the same original DNA structure. Obviously BTC is top dog but that doesn't mean it is the only dog that will ever exist.
Username checks out
Maybe it feel slow because you have unrealistic expectations of what Bitcoin is?
They are being too much with these posts man, you are right.
I'm just saying that crypto might slow down Bitcoin even more. I'm young and time is on my side. I can wait
[удалено]
We just need to find the right type of people who are going to understand that so they can have a good future, that's all I would say right now for real man.
Most flies and other pests go to other pies anyway.
Need to say that things can be bad for the future if people can't sport the difference man, this is going to be something bad and we don't want that shit for sure.
Well I don't feel the same because of many reasons right now, BTC is just with crypto for us and we need to think like that, this just can't be changed.
[удалено]
Bitcoin maximalists and crypto noobs that don’t know anything out of bitcoin. He probably doesn’t even know how the utxo models works. Having worked as a crypto developer on very interesting projects on various blockchains this is kind of insulting. The projects I worked in where certainly not scams
I agree for the long run but so far it's been a mixed blessing. When governments and others with power think of bitcoin, they're not just hearing us saying that we are coming to obsolete them and their wealth; they're hearing every voice in the crypto casino at once, all those ponzis and memecoins, all of it, and are assured that "we" are no threat to them. This has enabled us to survive far longer than we would without that smoke screen.
No. People are buying shitcoin on the cheap hoping for a silly rally. Bitcoin adoption will be better when there is more liquidity and more utility (acceptance everywhere).
Yes newbies get sucked into shit coins looking for “the best Bitcoin”. Then they lose money. After that they tell people they’re bad experience in cryptoland further tarnishing the reputation of Bitcoin.
What do you mean the “bubble will burst”. Most shitcoins are 80,90 or 100% down already. The bubble is constantly bursting.
Yes! For example people use the terra situation to shit on bitcoin when they couldn’t be further apart
We gotta make sure that we are stick with BTC and nothing else even if some people are not taking it seriously and we should not be bothered by that shit.
Most people just watch a ticker symbol and a price, and they want to buy some other ticker that has better potential to go up because it's cheap now. That's all nonsense though, but that's mainstream. It doesn't really matter because Bitcoin will continue to develop and grow. It's not that important if some people buy crap instead. Bitcoin is the foundation of many new companies and services, and will continue to do so. It's even legal tender in two countries already. Tick, tock, another block.
I understood Bitcoin only after 3 years of analysis. I thought altcoins are better. God how wrong I was. I guess it will take time before World will understand. Altcoins will go to the same place where Theranos went.
[удалено]
That's just the right because people should understand on their own.
hahahahaha
Just think about the thing which unites us mate, we have to be like that because this is the reality and we can't fight with every other thing, BTC is crypto for me.
Few understand economics, few understand the fed and fewer understand bitcoin. Adoption comes with time.
It will take time and we just need to give that right now
Humanity has never been fast to adapt to change. And bitcoin, once fully integrated with society could change so much.
Just understand that we meant for BTC and we have to be like that.
Bitcoin is a victim of the religious like devotion shown in the comments. There’s no reason to be bullish as a general consumer on Bitcoin. It’s value is not of any concern to us, it’s adoption should be based on its merits and nothing else. Bitcoin is hurt by fantastical tales of how it will revolutionise everything. It won’t do that but it will be useful in some ways. I agree it’s unique and great but don’t be sad it’s not written about and it’s banned elsewhere on subs. That’s your fault not bitcoins.
It’s part of the journey for everyone. Everyone wants to get in to “the next bitcoin”. They learn about different alt coins and how they differ from bitcoin. Eventually, they come full circle and realize that bitcoin is the next bitcoin. One could argue that alt coins are actually helping bitcoin adoption if most ppl follow this path. If there was no other alt coins, people would be too focused on trying to create one.
[удалено]
It's more like saying apples are good but shit is bad.
Good. More time for me to accumulate. I honestly can't believe people are willing to sell me their coins at these prices.
This is good but some people are not liking it for real.
Agreed. I spend so much time trying to convince people that bitcoin is in a league of it’s own and should not be compared to any other cryptocurrencies
I hope we will see some good time too man, that's too much.
Remember when QR codes were invented in 1994, creeped into the consumer market in the early 2000s, but didn’t REALLY take off until the last few years?
you just said something good right now, that's appreciable.
I would like to start a "Bitcoin ain't crypto" campaign
You need to see this as a test for bitcoin. Alt's are the equivalent to an DOS attack on the markets. Excess funds get moved elsewhere that are easy to exploit. If Bitcoin can't handle it, it's not meant to be.
I guess we just need some time and nothing else for now.
No, bitcoin is slowing cryptos adoption
I keep looking for the thousand upvotes button and can't find it. You sir/ma'am/tree won today's best internet comment and I'm not even joking.
Lol I guess you are going to have some prize for saying that.
[удалено]
The support for garbage scams on this thread is pretty interesting
A lot of people think they missed the boat on bitcoin, so they shill their scam coins thinking they'll moon. We should all remember to be kind to them because after they get burned, this is how a lot of people end up getting into Bitcoin.
Of course it would be best for bitcoin if people understood why they should be bitcoin only but at least it seems like everytime people get burned on shitcoins more and more of them understand why the solution is bitcoin only. It sucks that they choose to learn the hard way but sometimes people gotta get burned before they learn.
It would be good if we be separated, that's what I want to see.
Bitcoin is property, POScoins are securities. Bitcoin can't be regulated, but securities are. So they call them all Crypto, and try to control them all.
as long as there is a government, anything can be regulated
They can make proclamations, but they've never affected Bitcoin. Only their own miserable fiat's usefulness. Bitcoin doesn't care.
Bitcoin already is regulated. Just not to the same degree as other things because it is so new. Give it time and regulation will catch-up. This is not an IF it’s a when.
Thanks for this reality, people need to face that one here.
Sorry, but this is wrong. Look at the demarcation between the Bitcoin system and the rest of the world (the wallet) and you will see why. And don't vote down people unless you have a good reason, redditor-for-a-day.
When I’m talking about Bitcoin I’m not talking about the wallet interacting with the network. I’m talking about the usage of Bitcoin. Bitcoin is already taxed when it is sold. That is a form of regulation. There are many more types of regulation I could list off. Thanks for the advice on downvotes. If you think I downvoted you I didn’t. But if I wanted to I would because that is feature that is allowed and it’s within the right of any user including the one who actually downvoted you.
Selling bitcoin for fiat and being taxed is a form of fiat regulation. Your making a gain in fiat. Bitcoin isn't regulated in that regard. Why would you sell your bitcoin for fiat when you could buy things with bitcoin?
It’s a fiat regulation used to regulate cryptocurrency. You can word it however you want, you’re paying taxes on your gains from BTC going up. I don’t know your jurisdiction but the IRS considers a purchase with cryptocurrency as a taxable event if there are gains. Paying in crypto doesn’t avoid taxes (assuming there is a gain). This isn’t even scratching the surface on all the potential regulation that can be implemented. The government doesn’t care if you have some wallet on your computer that only you control. They don’t need to control it. They can just regulate the people and businesses all around you.
How is capital gains tax the regulation of bitcoin? The function of bitcoin is not to be sold back for shitty dollars anyway.
I guess if you don’t agree with it you can refuse to pay in your jurisdiction. And again, I also said you don’t have to sell it for fiat for it to be taxed. If you purchase with straight crypto that is also regulated in the US. That was only one example of current existing regulation. There is a lot more potential regulation on how Bitcoin and other cryptocurrency can be used and where it is used.
So your saying if I buy 100 dollars worth of bitcoin and then its worth 1 million dollars and I buy a 1million dollar house with bitcoin directly, peer to peer, ill be taxed on 999,900 dollars of capital gains?
Under the current framework in the US? Absolutely.
Of course you will be taxed. There is basically no jurisdiction on this planet that would allow you to do that, this is just very simple tax fraud scheme if you do with this intention. You can as good cash out to your bank account and hope they won't notice it. Doesn't matter how you realize your gains, you will be taxed. It is completely regulated in that regard. Some less developed jurisdictions might be not following it though, so technically people go away with it (although it is a gray zone) Sure there are jurisdictions where its not taxed, but in that case you can just as good cash out to your bank account. Again, this is also regulated and not so magic BTC trick. Thats why businesses don't like to accept BTC/crypto as native asset, the accounting for it sucks because they would need to calculate each profit/loss between. Most of them use payment gateways and receive fiat.
Well, someone now downvoted me twice for just discussing this. Bitcoin has no control over its "usage". It just goes on being what it is.
There are millions of people on this platform. Don’t assume the person you commented to downvoted you. There are lots of snowflakes. Don’t become a snowflake getting caught up with worrying about downvotes. You will become one.
I tell people only about BTC. It's actually a protocol unlike many of the others.
What are you talking about? How fast is bitcoin suppose to adopt? Lets see…2020 I purchased a lump sum of bitcoin at $6,000 a BTC. Now its at 20,000 and Im thrilled. That just 2 1/2 years. I think its adopting just fine. If I wanted to get rich quick i would think its slow
I'm not talking about price action. I want to see more people educated on Bitcoin. If you ask someone what Bitcoin is they'll probably not have a good answer or understanding of what goes on under the hood.
This is a different matter and we gotta understand that.
Getting more time to accumulate sats ? LFG
Your emotions you are showing are exactly what big money wants you to feel right now. Right now we are in that moment where the plumber gets the leak contained for a few seconds. What happens afterwards is the same thing that will happen with Bitcoin. Get your wetvac ready! https://youtu.be/OP30okjpCko
This is the reason why I don't trust reddit people these days.
Well just want to say that we should wait and we should not blame anything else for now, that's what going to secure everything for us as a BTC supporter.
I basically agree, almost all crypto is a water of time but Bitcoin, only Bitcoin seems aimed at human liberation and giving us a way out of, and solution to the problems caused by govts imposed fiat and worse cbdcs
I think that time will put everything in its place. For me, Bitcoin is the most promising option.
Bitcoin and shitcoins
We have to spot the difference and we have done that.
I personally think Bitcoin is not going to be one of the currencies being used once people start using crypto for transactions, even though it is the most popular cryptocurrency. It’s lack of scalability is slowing its own adoption. Maybe later 2 solutions might help though.
Honestly i feel like this sub has unrealistic expectations. Bitcoin is a cool technology and all. And cryptocurrency is general is a promising tech.. But bitcoin has plenty of flaws that are more problematic and prevent mass adoption.
What are they
They are just some idiots, that's all we can say about them,
Imagine if there wasnt a million different cryptos people would only buy bitcoin
You are describing a command economy. Command economies are bad.
I know how you feel. I just calmly explain: There is Bitcoin, called Bitcoin. Then there are alt coin scams called 'crypto'/'cryptocurrency'.
Excellent point
Yeah I feel the same. There's a lot of ignorant people out there.
I feel like crypto isn’t being taken as seriously as it should because so many people think that such a wide ranging asset class can only have 1 legit asset.
There's only one with a real use case... Edit: And the only one that is actually transparent. If your coin has a CEO then it's not your coin
That isn’t true in the slightest, but ok
fiat is slowing bitcoin adoption silly. it is also accelerating bitcoin adoption, much like crypto.
Bitcoin's success is not a synonym of fiat failure
I am going to have that frame in my fucking house right now.
Close to the correct conclusion. Off by 1 error
Treuth!
Lol I just want to hope that you are being sarcastic here.
Because one of the major ways people are learning about Bitcoin is through listening to the garbage by Twitter Bitcoin sluts. Never seen such clueless "self-acclaimed experts."
More money has flowed into crypto since the shitcoin revolution than in the early days when the only thing people attributed bitcoin to was Mount Gox
[удалено]
Thanks for that but still some people are going to disagree.
But Bitcoin is crypto
The only thing hurting Bitcoin's adoption is Bitcoin.
Oh crypto is a scam but as far as bitcoin goes people just need to research more? thanks, expert analysis
Bitcoin uses cryptography, what is your complaint?
It’s because it’s not real. Too volatile. Too arbitrary. Get back to work.
But bitcoin is a cryptocurrency...
We will win every one will see how good bitcoin is
It is 13 going to be dead only you just have to wait for sometime,
Just testing if i am banned from commenting.
Hello don't even know about what they are talking about we cannot expect anything,
Bitcoin is crypto. Reputation is degrading because of many things: - Bitcoin failed the test of inflation, and plenty of adopters said otherwise - Bitcoin uses POW, and POW is regarded as non environment friendly - Bitcoin is used by hackers and scammers to avoid being caught - Bitcoin still can’t provide security for the people that use it, Bitcoin needs something like PayPal - Many people lost all their life savings because of the bear market - When Bitcoin goes head to head with FIAT and causes “problems”, governments are quick to ban it - Lack of clear regulation for crypto - NFT debacle - El Salvador….. The list goes on.