Ya know, you gotta be a little crazy to support free market capitalism and loudly voice opposition with hatred in the eyes of those looking to rip up the Constitution. Problem is, it's the core natural way of the human. Freedom.. And it's damn hard to ignore those who want to control you..
Discussion
The Bitcoin fan club is a pointless waste of time.
How many posts are about learning to actually be self-sufficient? Farming methods, preservation, self-defense, case studies from collapsed nations throughout history, etc.? How many posts really dig in to the demonic underpinnings of the system we're in right now?
None of them. But if you want to see some nonstop Bitcoin cheerleading, you've certainly come to the right place.
Internet money is not a personality. Money is the root of all kinds of evil. Seek God. Enhance the portfolio of your mind by filling it with thoughts of God, not thoughts of money (no matter what form it takes), or you will be spiritually no different from the people who own the current system.
If this post helps just one person to break out of the hypnosis they're in from talking about crypto all day, then it's worth the effort to type. Otherwise I'm just casting pearls before swine...But I don't think that's the case. People just need to snap out of it.
It's also funny how nobody here likes to talk about how Bitcoin is doomed to deflation. The moment someone's key is lost or Bitcoin is sent to a defunct address, that Bitcoin is effectively destroyed permanently and forever.
Then the people holding onto it continue to "hodl" since it becomes more and more apparently valuable, while newcomers don't even bother with it, since they're just fighting for the few scraps that are left in circulation.
Look at the events leading up to the Great Depression for more information on the best-case fate of Bitcoin. But you won't, because that interrupts the circlejerk.
What you explained makes no sense. Sorry you need to read more on bitcoin. This is why you need to be here more often and start reading note after no after no after note because what you explain is completely completely wrong.
Tell me specifically how I'm wrong. Use your own words with no external references.
You clearly understand you're not gonna waste my time here...
Sounds like you're afraid to debate and/or can't formulate your own thoughts.
Par for the course here, though still disappointing.
Have fun with the endless circlejerk.
What would you like to debate, master debater?
there's only gonna be 21 million coins ever OK. There's like 19 million in circulation right. Every 10 minutes 6.5 BTC get injected into the bitcoin economy every 4 years That amount gets cut in half so every 4 years whatever bitcoin you hold. The purchasing power will increase because the less BTC people can buy right the more valuable it becomes because no one can create more bitcoin..
And here's one who can't use words at all, hiding behind stolen, cliche memes.
Lol! Come with an argument and I am your huckleberry!
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.
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 thatβs in bitcoin. Itβs just one aspect my friend. Start learning and youβll see what I mean.
GN! π«π€π½
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 Boothβs 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 panderingβ¦
> supports thing publicly, repeatedly
> but that's just because they're trying to get rid of it!!
okay
Theyβre playing a complicated version of chicken!
Where are you from friend?
Irrelevant. Respond to the point.
Youβre not making points. Youβre 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]
NGMI!
Wow, masterfully articulated. You addressed each of my points with such finesse.
You people are psychologically no different than the eight MAGA boomers who still read up on Q.
It is a different kind of deflation. The great depression was trying to peg the fiat exchange rate to gold too high, after the capital had been spent. A gradual deflation of a money that can be trusted to hold its value over time drives lower time preference and better capital allocation.
Economic growth requires deferring consumption and allocating resources to development.
In a Bitcoin denominated economy, Bitcoin will only be hoarded until the price increases to the point that it's more probable that the price will decrease than increase, for example if 50% available coins are in circulation there is equal probability that the price of an asset will increase as it will decrease relative to Bitcoin. If this becomes skewed and 60% is taken out of circulation, the purchasing power of Bitcoin will increase, and the probably that the purchasing power will decrease is more likely than it increases further. This will cause it to balance at a point. However, the maths for this is quite simple, allowing anyone to make relatively accurate financial calculations.
With fiat the cost of money is dependent on the decision of central planners. This is far less predictable and at the whims of political influence. The financially savvy and especially politically connected can take advantage of this at the expense of the average person, who ends up trapped in a large mortgage for a house that has lost value as interest rates rise.
Everyone is talking about this, you probably just need to find the right account. There is a chapter on it in the Bitcoin Standard, most bitcoiners have read that as an introduction and most have gone on to read more sophisticated books like Human Action.
Like an old country preacher once said: "Eat the hay and spit out the sticks." There is some signal even amidst all of the Bitcoin noise. But the Bitcoiners have been largely the first group to colonize Nostr, it seems. I think others will come eventually, but there are still kinks Nostr has to work out and improvements to be made.
I don't even hate Bitcoin as a concept, aside from its blatant WEF underpinnings and privacy issues. If it was just one topic among many here, I could tolerate it. But it's nonstop, it's everywhere, and it's not even intelligent discussion. Just idiots spamming memes at each other.
Yeah, the privacy issues concern me too. There are companies and I'm sure intelligence agencies devoted to tracking and figuring out who is doing what with Bitcoin. I have some affinity for Monero (though I don't own any), but I haven't studied it enough and it seems to lack the first mover advantage of Bitcoin. Unfortunately many of the Bitcoin memers and spanners are behaving as NPCs and probably don't even realize it (and I don't like to view people that way).
I'm not here to rain on people's parade, but I'm here to maybe get some neurons activated if it's possible. "Dollar bad" does not imply "Bitcoin good"--they can both be bad. If the people here really care about actual freedom, they'll address the issues directly instead of dodging them with memes. So far I haven't seen any of that, though.
https://youtu.be/ncPyMUfNyVM it doesn't matter who has 51% or more they would need to shut off all electric in the world to take my bitcoin soooooooooo I don't care who mines bitcoin my btc transaction will always be validated and I dont give a fuck about anything else you say your argument is straight trash compared to what I'm saying
We're not talking about a 51% attack. We're talking about the fact that every transaction is public, permanent, and traceable to you. It is a privacy nightmare.
Even tricks like using lightning nodes before committing transactions to the public blockchain can be thwarted by the right internet infrastructure (via packet capture and timing analysis).
I'm not sure how many people actually care about freedom, because on other issues they are most probably statists. It's probably just a variation on the love of money.
I saw this meme in my collection, and if you just replace the flag with the orange Bitcoin symbol...
