See my other post about Bitcoin and deflation. It seems to be invisible to everyone here, mostly because nobody wants to address the elephant in the room.
Discussion
Which is?
I'm not going to spoonfeed you retards every step of the way. You can literally click my profile and see recent posts. If that's too much work for you, then you're not worth the time to speak to.
Make up your mind on whether you want to be pedantic and not do an inch of work to click something or have an actual discussion. No surprise you're just like everyone else here so far.
Yo gave yourself away when you mentioned crypto like it was bitcoin. You are behind in your research! Stop calling people yards and go pick up a book or two!
Bitcoin is crypto. Saying that it's not is just marketing speak.
Seriously?!?!?!?!?!?!?!?!?!?!?!?!?
Really?
Come on?
Tell me how Bitcoin is not cryptocurrency. If you can't, then it is cryptocurrency--crypto.
Say that out loud and relish how dialectically illogical it sounds.
What happened? A cat got your thumb!
Lol! Having trouble articulating!
The ball is in your court. Tell me how Bitcoin is not cryptocurrency (which is what "crypto" is short for in this context).
I'm waiting.
Otherwise, Bitcoin is, in fact, "crypto."
People losing their bitcoin or losing their keys does not make it Deflationary in fact that would make my stack more valuable
Consider the following:
- I create a digital coin. There are 100 of them, fixed. Never any more.
- One person has 10 of these coins.
- Said person drops his phone in the toilet, ruining his key. Or he forgets his passphrase.
- His coins are effectively GONE from the system. They are cryptographically impractical to recover, and if they can be recovered, then the whole system is broken.
- There are now 90 coins, where there were once 100.
- The currency has deflated.
Now replace "100" with "21 million" and you have Bitcoin. It deflates over time.
Cryptography is something that’s in bitcoin. It’s just one aspect my friend. Start learning and you’ll see what I mean.
GN! 🫂🤙🏽
You are messing with me now!
He's gonna keep coming back with all you cant articulate anything blah blah blah blah blah blah blah blah
So far I'm right. Nobody has addressed my point about deflation with anything other than memes and "NGMI."
When I point out that Bitcoin is, in fact, crypto (cryptocurrency), the only response is shock. Nobody can disprove it. Saying that "Bitcoin is not crypto" is just a marketing stunt that you all have fallen for.
Jeff Booth’s book explains how this works. It sounds like you should read about fiat money though, first. Cheers!
There is a fixed supply of 21 million Bitcoin.
When a wallet contain Bitcoin is lost or destroyed, that Bitcoin is permanently inaccessible--it cannot be recovered.
The supply of Bitcoin dwindles over time.
The currency deflates indefinitely.
It's a very inconvenient fact that nobody here likes to address, but it is nonetheless a fact.
You're wrong you are clearly wrong. I'm done bro you're wrong.
How am I "clearly wrong"?
If it's so "clear," then surely you can explain how?
Go cry to your monero guys How Bitcoin doesn' Work and will Never work
You are incapable of responding to a point made against your precious internet money. Your response is to tell me to "go cry" instead of addressing the issue I've raised (deflation, in this case).
I think we're done here--you lost. Go back to the circlejerk.
The saying is "Bitcoin, not crypto." Not "Bitcoin is not crypto."
The point being that the value comes exponentially from the network effect. Money is chosen as the most salable item, making monetary systems a winner takes all game. There are a number of arguments that favor Bitcoin, like that it was a discovery that can't be repeated. All other crypto currencies are controlled by a central body and lack true decentralisation. They all have a narrative, but the reality is that if they were really superior, the developments would be incorporated into Bitcoin. Such as lightning network solves the issue of scaling better than larger block chains that limit the ability of the average person to run a node and verify the blocks. Or fedmints to solve the privacy issues.
> "Bitcoin, not crypto." Not "Bitcoin is not crypto."
Right, it's a marketing slogan. People act as if Bitcoin is a special unicorn, and it's true that there is some network effect, but the fundamental technology is not specific to Bitcoin. It just happened to be there first and is eking along with that momentum and the support of WEF behind the scenes.
I haven't looked into fedimint much but am reading about it now. It sounds pretty shady overall. You're basically giving up your money to a bunch of people you likely don't (or barely) know who aren't subject to any legal restrictions, though one could argue today's banks operate largely the same. I'll do some more reading and see if that's a bad conclusion.
Thanks for the reasonable response, though. Way better than the meme spammers.
Why do you say the WEF is supporting it behind the scenes?
They sure don't seem to have a problem with it. The extent to which they support it is unclear. Knowing how they work, their public articles are likely the tip of the iceberg of their involvement, but that's more of more of a "he who has eyes to see" kind of thing.
They are fighting to get rid of it. They are pandering…
> supports thing publicly, repeatedly
> but that's just because they're trying to get rid of it!!
okay
They’re playing a complicated version of chicken!
Where are you from friend?
Irrelevant. Respond to the point.
You’re not making points. You’re making yourself look ignorant.
My point was that the WEF has publicly supported Bitcoin. Your point was that this means they are somehow trying to get rid of it (???).
I responded by juxtaposing the two stances (public support vs. your claim that this means they are trying to get rid of Bitcoin) to show that it is ridiculous, and you responded by asking me where I'm from instead of showing me that your point is not, in fact, ridiculous.
The ball is in your court, and you are the one making yourself appear ignorant.
They have no control over bitcoin in any meaningful way. No one does. #[11]