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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.

victor 2y ago

> "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.

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Discussion

Azz 2y ago

Why do you say the WEF is supporting it behind the scenes?

victor 2y ago

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.

Bitcoin for President! ⚡️🔥⚡️🍌🍞 2y ago

They are fighting to get rid of it. They are pandering…

victor 2y ago

> supports thing publicly, repeatedly

> but that's just because they're trying to get rid of it!!

okay

Bitcoin for President! ⚡️🔥⚡️🍌🍞 2y ago

They’re playing a complicated version of chicken!

Bitcoin for President! ⚡️🔥⚡️🍌🍞 2y ago

Where are you from friend?

victor 2y ago

Irrelevant. Respond to the point.

Bitcoin for President! ⚡️🔥⚡️🍌🍞 2y ago

You’re not making points. You’re making yourself look ignorant.

victor 2y ago

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.

The Guy That Looked Into It 2y ago

They have no control over bitcoin in any meaningful way. No one does. #[11]