nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s you seem knowledgeable, honest question, I need someone to explain the difference between crypto and bitcoin. It wasn't that long ago that video cards were sold out world-wide because using video cards to generate crypto was a popular and profitable thing at the expense of the environment directly.
Crypto is synonymous with scams. What's different now? How is it going to be sustainable and also not bad for the environment?
Your silence is very encouraging
just read the bitcoin standard
Read the Fiat Standard next. Both complement each other well.
The post was a really really long one so I wanted to split it up. It didn’t work out so well. Lets see if it will all fit here.
I will try to explain it. Please keep in mind that there are many many books that cover these topics and they all compliment each other. It is hard to capture it all in an essay post. I will also talk about things that you will say “ya, but you aren’t ansering my question.” My response is… It is relatant to the discussion. I could say that bitcoin isn’t as bad for the environment as governments, but it wouldn’t mean anything without more context.
Here goes: Bitcoin was/is the first digital money. One of the benefits (that I love) is that you can travel with as much as you want without asking permission to have it.
Ex: If we travel on an airplane overseas with more than 10k they want to know where that stack came from. With bitcoin you can have it and no-one knows that you have it. So you can travel with as much as you want without asking mommy for permission.
One more example: I traveled to another country where I hold a new bank account. I transferred money into that account. I then waited 10 calendar days for the bank to deny the transfer and tell me that I had never transferred that much into this account so it was blocked and they wanted proof of where it came from. They call it anti-money laundering. Maybe they are asking me to be “anti-money” because this was not a lot to transfer. (When both people send and receive bitcoin you don’t need to ask a bank. You just send it and they receive it. Any day, any time, any amount.)
Why was I sending this money? I wanted to pay a security deposit for a place to live. Granted this account was only 2 weeks old, but why can’t I transfer? I am the sender and receiver. SSSSSOOOOO the money in the first account came from somewhere legit, but when I transfer it to myself it came from some illegal activity? NO
Why is it like this…. because their name is on the dollars. It is the property of the federal reserve bank. So the money goes into their bank, they own it, they allow you to control it, but you don’t have it in your hands so you have to ask permission to move it from their bank. In this scenario they told me no. So I had to stay in an airbnb until I was able to figure something else out. I used moneygram to finally get the $. They charged $15.00 which isn’t bad, but sending with bitcoin would’ve been cheaper than that plus I wouldn’t have had to ask permission or use a third party bank/service.
With bitcoin you can hold it and send it anytime without asking permission. It is cheaper than any other “service, money transfer agency, or bank.”
It could be Sunday night at 8pm when every way to transfer would be closed, you can take out your phone, open your bitcoin wallet and transfer as much or as little as you want. It can be there in seconds if you use “bitcoin lightning” or less than 10 minutes if you use “bitcoin.”
It has many many more properties, but you understand where I am trying to go.
As for bitcoin vs crypto. They say “there is bitcoin then there is everything else.”
In my analysis, people saw bitcoin as being the new “digital standard of money” and decided to make their own form of digital money which we call them “crypto.”
Crypto-graphy is basically a message that is hidden until it reaches the person or computer it is supposed to be delivered to. In this scenario money is safe until it gets where it needs to be and no-one can intercept it.
What happens when people see the new thing on the block? They want to copy it. They say that they want to make it better. In this case, they say “bitcoin is too slow our crypto will be faster.” Bitcoin doesn’t have this doesn’t have that and so they modify it and call it their name for it. That is admirable, but bitcoin can do everything that the other crypto can do and do it better. It acheives this because it has the best developers in the world (literally the world working on it for FREE.) That is why it has survived this long and demolished their usd to coin price. The people creating “crypto” copied the properties that bitcoin has and slapped their name on it. It’s just like a knock off Rolex. When you know the quality of a Rolex there is no way you would want the Folex. That’s just dumb.
Who buys or creates a Folex? Those that can’t afford a Rolex.
They already don’t have the funds to obtain the quality that bitcoin has so they want to make something cheaper and faster….this enables them to be able to manipulate others into donating to their project. Once people put money into their “crypto-coin” the creators sell all of the coins they own. When others see that major amounts of the coins are selling rapidly, the value drops and your money is gone because they sold you a Folex then disappeared with your money.
Bitcoin can never do this. Why you might ask? Bitcoin doesn’t have a CEO. It has a creator named (Satoshi Nakamoto.) Satoshi gave this project to a group of developers to keep it up to date, fair, free and open source. What does all this mean? There is no head of state, government, bank, CEO, CFO, secretary, treasurer…. There is no person nor corporation to tax, diret, command, coerce, There is no one person resposible for everything. It is empowering for the people. Not the handlers of everything else that is considered money.
Had enough yet? Now to the enironment. This will be short-ish
When I was young my parents taught me “don’t hit girls, don’t abuse your strength, don’t be a bully, talk things out before you fight it out, ect.
Some Governments don’t talk. The one with the biggest and best arms wins. So if you have the power you don’t want to talk. Which one is worse for humans dying? Plugging in computers that run on electricity or wars?
I think war wins this one. Governments don’t just do things by themselves do they? They ask the people first right? I don’t personally know anyone that has ever wanted to bomb other countries willingly. Do you?
With all of this being said…. Gov need money to go to war. They have to pay soldiers, buy supplies, petrol, airplanes, bombs, ammo, helicopters, ships, submarines, fuel, build facilities in other countries so that means leasing land, buying backhoes, tractors, cranes, trucks, cars, humvees, translators, constructing runways, constructing housing, constructing office buildings, food, water… you understand that this list could go on and on and on.
All of this takes money. Where does the money come from? Your taxes.
Transacting in bitcoin does not have to incur a tax. Working for money which is called fiat (fiat just means fake money) can incur taxes that are used however the gov wants. I don’t personally disagree with that system. I just prefer to win bitcoin into a wallet that I control, free of taxes and goes up in value every 4 years. The last sentence is a mid-level bitcoin discussion. It will make sense as you study bitcoin more.
They could talk it out and come to agreement like some of us were taught when we were young. When you want to control the land, water, crops, minerals, and other resources, people and other governments you go into bully mode (war.) To quote one of the greats: “Bitcoin fixes this.” How? Because we aren’t feeding the system that extracts all of the resources and acquires more and more with our “human capital.”
There could be millions of computers running to keep the bitcoin Network alive, but it would not equal the manpower and machine power to get ready and go to war for 50,000 people, let alone 500,000 people. Not that the scale is one or other. Meaning war or bitcoin, but
it does sort of look that way doesn’t?
slightly different topic but points 3 and 4 fit well:
https://damus.io/note19pzl8tu7zskcmau0m4uj0n6l3cuu9gvyphvrj8cgsruch3e6g09stwaxuf
Why is it like this…. because their name is on the dollars. It is the property of the federal reserve bank. So the money goes into their bank, they own it, they allow you to control it, but you don’t have it in your hands so you have to ask permission to move it from their bank. In this scenario they told me no. So I had to stay in an airbnb until I was able to figure something else out. I used moneygram to finally get the $. They charged $15.00 which isn’t bad, but sending with bitcoin would’ve been cheaper than that plus I wouldn’t have had to ask permission or use a third party bank/service.
With bitcoin you can hold it and send it anytime without asking permission. It is cheaper than any other “service, money transfer agency, or bank.”
It could be Sunday night at 8pm when every way to transfer would be closed, you can take out your phone, open your bitcoin wallet and transfer as much or as little as you want. It can be there in seconds if you use “bitcoin lightning” or less than 10 minutes if you use “bitcoin.”
It has many many more properties, but you understand where I am trying to go.
As for bitcoin vs crypto. They say “there is bitcoin then there is everything else.”
In my analysis, people saw bitcoin as being the new “digital standard of money” and decided to make their own form of digital money which we call them “crypto.”
Crypto-graphy is basically a message that is hidden until it reaches the person or computer it is supposed to be delivered to. In this scenario money is safe until it gets where it needs to be and no-one can intercept it.
What happens when people see the new thing on the block? They want to copy it. They say that they want to make it better. In this case, they say “bitcoin is too slow our crypto will be faster.” Bitcoin doesn’t have this doesn’t have that and so they modify it and call it their name for it. That is admirable, but bitcoin can do everything that the other crypto can do and do it better. It acheives this because it has the best developers in the world (literally the world working on it for FREE.) That is why it has survived this long and demolished their usd to coin price. The people creating “crypto” copied the properties that bitcoin has and slapped their name on it. It’s just like a knock off Rolex. When you know the quality of a Rolex there is no way you would want the Folex. That’s just dumb.
Who buys or creates a Folex? Those that can’t afford a Rolex.
They already don’t have the funds to obtain the quality that bitcoin has so they want to make something cheaper and faster….this enables them to be able to manipulate others into donating to their project. Once people put money into their “crypto-coin” the creators sell all of the coins they own. When others see that major amounts of the coins are selling rapidly, the value drops and your money is gone because they sold you a Folex then disappeared with your money.
Bitcoin can never do this. Why you might ask? Bitcoin doesn’t have a CEO. It has a creator named (Satoshi Nakamoto.) Satoshi gave this project to a group of developers to keep it up to date, fair, free and open source. What does all this mean? There is no head of state, government, bank, CEO, CFO, secretary, treasurer…. There is no person nor corporation to tax, diret, command, coerce, There is no one person resposible for everything. It is empowering for the people. Not the handlers of everything else that is considered money.
Had enough yet? Now to the enironment. This will be short-ish
When I was young my parents taught me “don’t hit girls, don’t abuse your strength, don’t be a bully, talk things out before you fight it out, ect.
Some Governments don’t talk. The one with the biggest and best arms wins. So if you have the power you don’t want to talk. Which one is worse for humans dying? Plugging in computers that run on electricity or wars?
I think war wins this one. Governments don’t just do things by themselves do they? They ask the people first right? I don’t personally know anyone that has ever wanted to bomb other countries willingly. Do you?
With all of this being said…. Gov need money to go to war. They have to pay soldiers, buy supplies, petrol, airplanes, bombs, ammo, helicopters, ships, submarines, fuel, build facilities in other countries so that means leasing land, buying backhoes, tractors, cranes, trucks, cars, humvees, translators, constructing runways, constructing housing, constructing office buildings, food, water… you understand that this list could go on and on and on.
All of this takes money. Where does the money come from? Your taxes.
Transacting in bitcoin does not have to incur a tax. Working for money which is called fiat (fiat just means fake money) can incur taxes that are used however the gov wants. I don’t personally disagree with that system. I just prefer to win bitcoin into a wallet that I control, free of taxes and goes up in value every 4 years. The last sentence is a mid-level bitcoin discussion. It will make sense as you study bitcoin more.
They could talk it out and come to agreement like some of us were taught when we were young. When you want to control the land, water, crops, minerals, and other resources, people and other governments you go into bully mode (war.) To quote one of the greats: “Bitcoin fixes this.” How? Because we aren’t feeding the system that extracts all of the resources and acquires more and more with our “human capital.”
There could be millions of computers running to keep the bitcoin Network alive, but it would not equal the manpower and machine power to get ready and go to war for 50,000 people, let alone 500,000 people. Not that the scale is one or other. Meaning war or bitcoin, but
it does sort of look that way doesn’t?
Fix the money, fix the world!
