I've been debanked by Paypal. (can't connect a bank account or credit card for onramping due to account restrictions)
And no, Canada isn't safe for banking by dissidents.
I've learned a long time ago never to put faith in technology - it will ALWAYS disappoint.
https://media.freespeech.social/ipfs/QmfMGUKBpQ6Pzq4kMQE9dHgjjpi5hbc5DxHvemU3Xn9yxv
Money is technology - fiat currency is highly centralized, fragile technology. Bitcoin is decentralized, anti-fragile technology.
There is no single point of failure - no clownstrike update…it is more robust than physical currency (governments can de-monetize banknotes at any time…India with the 500 rupee note for example)
If that's the case, why is it that Bitcoin goes down when the US dollar goes down? Why does it go down when seizures or losses happen? Electronic money can't survive an EMP. When the computers go down, you have nothing. Even with market manipulation, paper money is still a physical, tangible thing that can buy goods and services. What's better are assets with real stable physical value like gold, or even better than that is bartering for value-for-value. The US dollar was actually in a good position until it was debased from gold reserves in the 1970's. When that happened, the Fed was given a green light to print more whenever they liked. Inflation is ONLY caused by printing more money. And now with no reserve commodity to base it on, it's easily manipulated to reallocate power. Just more usury to destroy nations.
Also, as far as the security of cryptocurrency goes, I have two words for you: Shor's Algorithm.
Why does Bitcoin go down. It is monetizing. Some people have knowledge, and some don’t. Information asymmetry. If Bitcoin never went down - it would never distribute to more people. If someone had never sold 2 pizzas for 10,000 bitcoin, how could it distribute to millions of people world wide?
You talk about civilization ending events like an EMP…do you think your physical assets remain in your possession in that scenario? I hope you are well armed, well trained, and have a large network of such people handy, but even then…good luck with holding on to your physical property.
Bartering value for value. A myth, made up by people who have never bartered. Ever been to a gun show? I’ve been to a lot - some sellers advertise “buy sell trade”, but in all my years I have NEVER done or seen a trade. The person that has the gun for trade invariably does not want to trade for the gun you have — EVEN THOUGH THESE ARE ALL SIMILAR DEVICES, and everyone there is looking for a gun!…now imagine trading different types of things — what are the chances that you and the other person have something that the other wants…0.0000% Without money, civilization cannot exist.
In order to understand bitcoin, you cannot approach it from a technology standpoint. You must first understand what money is — how it came to be, the history of it, and how, as a technology it is as important as mathematics and language, perhaps even more so. The Bitcoin Standard, by Saifdean Ammous, it’s more a primer on Austrian Econ than about Bitcoin, and will give you the essential foundation of understanding first what money is, then explaining why bitcoin will destroy all other money, just as gold destroyed all other ancient money.
Bitcoin prices have fluctuated in lockstep with the US dollar very much so every time there's some economic impact. It isn't a "hedge against inflation" at all.
You clearly have never been to a farm co-op before either. These are the kind of people I make connections with. There's a lively barter system in exchange for essentials happening there. City folk enamoured with the latest Elon Musk-type speculations will never get it, and they'll be the first and worst when their technology fails them.
Gold didn't destroy money either - usury did. The ones that committed usury were the ones initially backing the financial system with gold and held onto the gold while they debased the currency and created interest on debts produced from nothing.
Bitcoin isn’t a hedge against anything, it’s a replacement for the current monetary system.
Trading some vegetables is one thing…how do you make a pencil, without money?
Yes, gold destroyed every other softer money: glass beads in Africa, silver in India and China, and countless other examples throughout history: hard money destroys the wealth of those holding soft money.
The problem with gold is it was too slow for the 20th century. It had low salability across space. That’s where banking, gold receipts, and later currencies took over. They had greater salability across space than gold. The tradeoff was that gold had to be centralized into banks. This required trust, that there was actual gold to back the receipts for gold. Eventually humans being humans, that trust is violated. Bitcoin requires no trust. It’s like moving a gold coin at the speed of light - no receipt, or currency backed by it, is required - it is a bearer asset. It can remain decentralized, like physical gold coins, yet move at light speed anywhere. It solves the salability across space better than currency, and is even more salable across time than gold.
😂 Farmers feed cities.
Also, Bitcoin moving at light speed?🤣
That's not even how things work.
Where is the trust in Bitcoin when we don't even have the designer's real identity? And you fail to even mention the 51% attack problem.
"It solves the salability across space better than currency, and is even more salable across time than gold."
What does this even mean?? 🤣🤣🤣
Gold: invented forever ago. Always salable.
Bitcoin: invented 15 years ago. Salable until it's broken.
Bitcoin is information, which can move light speed, since it has no mass.
Bitcoin does not require trust. Anyone can review the code, and run whichever version they desire, as long as it obeys the rules that everyone else agrees to. Who cares who designed it... How about the number 0? Can you trust that 0 is a valid concept and not a trick, if you don't know who came up with the idea?
51% attack, Bitcoin breaking, quantum computing, government attack, you are not the 1st to ask these questions ...if you are truly curious, keep learning! Do you like books or podcasts? I will post some useful research.
"Bitcoin does not require trust. Anyone can review the code, and run whichever version they desire, as long as it obeys the rules that everyone else agrees to. Who cares who designed it... How about the number 0? Can you trust that 0 is a valid concept and not a trick, if you don't know who came up with the idea?"
My counter-argument to that statement, is: Do you trust that the NSA didn't build in a backdoor into SHA-256? Or are you a mathematician, and have you verified this extensively yourself, especially considering they already did this with Dual EC DRBG? The only statements I can find are "the cryptographic community *TRUSTS* in SHA-256 for security". That's a dangerous game you're playing with an NSA asset.
some things I have to take on faith, I'm not a computer scientist, or a mathematician. many other people that are, have reviewed the code...I'm not an aeronautical engineer, but I fly on airplanes.
there are always tail risks, you might die in a plane crash, Bitcoin might have a hidden flaw...which it has before. An inflation bug was found, fixed, and Bitcoin survived. If there is a problem, the software is open source, and the incentive is to fix it!
modern world wide web, only been around since 1991, do you think it will fail, and we go back to the reliable old telegraph?
