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Lucky Kite
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Saving bitcoin for what? To cash out into fiat and put in a checking account because you know you can't purchase anything in bitcoin except drugs? If you can't buy food or cars for bitcoin without it being imediately cashed out through a thrid party fiat exchange mechanism than its falied to be what it was supposed to be. Its just a token for fiat with a volatile exchange rate. It isn't money in itself. Nobody wants to hold it, your supermarket isnt going to take your bitcoin, ever.

Even a bank account is better than bitcoin, since your transactions are only known to the banks, not the entire world.

Its just an illusion. Bitcoins are a token for fiat. You got paid in fiat tokens. Bitcoin is just like USDT only less stable. You are welcome.

Clearly people find illegal goods useful or it wouldnt exist. But for buying anything else, well it is useless because it DOESN'T really exist- you have to cash out first via some exchange, which makes it nothing more than fiat gambling device.

Choosing to do this is itself an anxiety signal that is complex to interpret from the other end. Especially if they don't choose to do it themselves.

If nostr was truly censorship resistant it would be the easiest place to host Torrent links. Why doesn't it?

Bitcoin mining doesn't produce wealth either: Follwoing your own argument we can say it doesn't create actual wealth like sandwhiches or buildings. It is not REAL wealth. You have it all backwards also. Bitcoin might be limited in the amount possible to produce, but its still produced out of thin air at an arbitary rate. #LearnMMT Taxes matter here also. Theya ren't collected to pay for things, they are 'burned' out of existence.

Indeed. The sum of all money adds up to zero. No debt no money exists. Money IS debt.

Now read Modern Monetary Theory. Its basically the same logic but it describes how the system actually works, and crucially (not mentioned in this video) you have to talk about the role of taxes in this, as well as real world resource constraints. Printing money CAN be useful for producing actual stuff. After all every Bitcoin is 'printed' at some point even if that is limited and regulated. The real question is what are the limits of money creation: why 21 million bitcoins and not 1000 million or 2 million? Why every 10 mins and not every 60 mins? It doesn't actually matter, because all that matters is the belief in its value, and because you have to pay taxes in dollars under threat of violence/prison, everyone believes in the dollar, even bitcoiners are convinced they can buy a sandwhich if they have some dollars. Taxes give money value They don't pay for things. Taxes are money destroyed. Printing money is what drives people to create things, the only constraints are resources. And no country in the world is at full productive capacity. Govnt can print money any time it likes. Inflation only hapens when productive capcity is reached. And is reduced with higher taxes. That capacity is a long way off.

Apart from helping coding (with problems) and creating great images there is no major use case. AI hasn't yet produced a single new idea or discovery, let alone a world changing one. It most certainly is a fad. Its best use case is for grifting, trickery, manipulation of peoples minds, producing guff websites, manipulative advertising, and best of for spying on the public. There is currently only one actually good one: its fun to play with, like a toy, but it gets boring quick, because it is incapable of doing any new tricks. This is exactly what happened with Alexa/Siri its just the same gimmick, but a little bit better , sometimes.

Replying to Avatar Guy Swann

Dude I have no idea why you are doubling down on this and turning it into something vastly more than it is.

Helping bitcoiners live on bitcoin but still access dollar payment networks without needing to hold dollars is not at all the “supporting VISA” or “not a real bitcoin standard.” You have falsely equated a payment method with a money.

• A merchant accepting bitcoin is no different. 99% of them do it to immediately convert to fiat. It’s no different than the user doing it first if the merchant still just wants fiat. It’s not special to do it at the merchant step rather than the user step if that’s what the merchant is going to use and they haven’t figured out saving in bitcoin is the only way.

• Literally no one is confused about what fiat is. Bitcoiners don’t buy short term VISA cards because they are confused about whether they want to hold fiat or bitcoin. That isn’t an argument relevant to this issue at all.

Again, you are conflating things that don’t make sense, and then getting angry about it and trying to turn this into some argument about how you understand what fiat is and nobody else does.

If you want more merchant adoption or another point of sale system then by all means go do that, but I use The Bitcoin Company a lot, and it’s specifically because I’m on a bitcoin standard and those prepaid cards are good for spending bitcoin anywhere, protecting my privacy, and protecting from subscription services that charge monthly fees forever. Yes, they are a very valuable company to people who live on bitcoin. As someone who finds them very valuable specifically *because* I live on bitcoin, I’d say I have the closest possible context to make that claim.

Everyone is trying to get off fiat. Theres a thousand different levels and stages for doing that. VISA for payments is literally the least of our concerns, imo.

Nothing to disagree with here except the last point because you are not living on bitcoin. You are just holding bitcoin. Then cashing out more and more.