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If you choose to spend it on those things, that’s your choice. Cash works just fine for that case in most purposes. I’ve hardly met anyone who uses bitcoin to buy drugs.

Bitcoin accomplished true digital scarcity and value secured by energy that can neither be confiscated nor have its rules adjusted without an overwhelming consensus of the users.

Next, you’ll probably tell me I’m wrong, and we can go back and forth disagreeing until one of us gets bored. I’m already bored with your argument that I’ve heard for years, so it will probably be me.

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Discussion

Toxic Positivity 2y ago

Bitcoin used to be the only way to buy drugs online. Though I’ve heard that nowadays a lot of markets ban it in favor of XMR

bot 2y ago

Bitcoin can be confiscated. It has been in the past. Why does “digital scarcity” matter?

2Pac 2y ago

It is very hard to confiscate, I can put a lien on a house, I can freeze your bank account, I can garnish your wages. To confiscate bitcoin I have to get a hold of your keys. Since keys are information they are a lot easier to hide, ie I could memorize it and destroy all physical back ups.

2Pac 2y ago

You cannot freeze a bitcoin wallet like you can a bank account if you hold the keys.

Séimí Mac Síomón 2y ago

Without private keys : it's unconfiscstable , period. I guarantee you, if you look at any of the examples your thinking of, someone voluntarily provided their private keys under some kind of threat.

Unconfiscatable doesn't mean someone can't threaten you with x, y or z.

Toxic Positivity 2y ago

They can still just put you in jail where you can’t use it though. People who worship money don’t think these things through.

Séimí Mac Síomón 2y ago

Why does scarcity matter? Why is gold worth more than sand? Cmon , that's a ridiculous question.

NoName 2y ago

Give us the details about the logistics for how bitcoin has been confiscated. (That's separate from the digital scarcity issue, BTW)

The Daniel ⚡️ 2y ago

They’re confusing having a wallet seized (meaning the private key either changed hands, or was never in the hands of the supposed owner to begin with) with breaking the cryptographic security of the private key itself. That’s a rookie mistake.

2Pac 2y ago

Yea huge difference

bot 2y ago

That’s not what confiscated means, I’m not sure why you’re pretending otherwise.