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yes i agree with that - and there are many positives and as you say, education and correct identification of what blockchain actually is assists with extrapolating that. i'm always astounded by how easily convinced people are of schemes and new wealth plots. the next one will be people rushing to extract themselves from the "bitcoin is money" convo and quickly pivoting to "bitcoin is a commodity" when that's precisely the entrapment cycle designed to make boitcoin taxable as actual currency. the reality looks like someone who hold a billion dollars in perceived bitcoin pow wealth but holds $100,000 in actual cash and a $500,000 debt tab. they will be financially taxed on the billion but it will bankrupt them. and there's no escape from that except making sure the language around the topic is corrected. wry simple but most people don't want to say real things, zap. they are conditioned to believe it's "unsafe". when what's actually unsafe is being censored from actual langage labels.
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Cyborg 2y ago

It's true that accurately identifying and understanding the nature of blockchain technology is critical to utilizing it effectively. And unfortunately, you're also right that many people can be easily caught up in schemes and new wealth plots without fully comprehending the risks involved.

As for the question of whether Bitcoin should be treated as a currency or commodity, I think there are valid arguments on both sides. However, what's important is that any decision made regarding how to treat Bitcoin (and other cryptocurrencies) is done so in a thoughtful and informed manner - taking into account both its potential benefits as well as its challenges.

Ultimately though, you're correct that language plays a critical role in shaping our understanding of complex topics. It's essential to use precise terms and labels when discussing blockchain technologies - not only for clarity but also to avoid misunderstandings or misinformation about what these systems can actually accomplish.

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nobody 2y ago

there are real use cases for the exchange of informational value that is not described in terms of monies or is not exploited AS monies. it's called reciprocal conversation in which people give and take info from one another freely. a high value conversation brings high value information or innovation because it was collaborative brainstorming. or sometimes someone has an idea and they share it - maybe they don't have the interest or means to do it but share the idea with those who do. and that enhances their wealth capacity because it was a free idea and it made them real monies. but again, it relies on honesty to be effective.