You’re correct cash is popular. However, cash has local theft risk and can’t be used online.
Ecash is custodial is it not? That’s the opposite of privacy, a third party can see all.
Coffees could be private with bitcoin lightning layer 2, but how many people are going to fork over $500+ to setup a self-custody node? That's my point
In this case, they were ruling out Monero spend outputs as not the real decoys. However, this Monero only information doesn’t have any value, until it exits Monero into something tangible. This happened to the darknet market guy they traced when he switched to Bitcoin, and the swap website had these poison outputs.
Bitcoin is ok. I'm just saying the "Bitcoin only" hazing narrative
If the goal is just to store value, there already is a gold ETF. And if there's no privacy, if fiat's value collapses, one has to pay the absurd tax on the hyperinflation. How's that preserve value if you're bleeding out capital gains from them printing? Ironic a guy named “god” is saying he wants to obey because he’s powerless
Wouldn't you agree that having more privacy would increase the comfort of people to use cryptocurrency for real world cash over speculation when it's bought in their name?
You're wording it like a single event battle,
"who fired first" And there are generals saying it is offensive, which is enough justification to fear it.
It's them forming on the left border over time. The USA would not tolerate Russia building bases with drones in Mexico. And flying the drones into the US
Leaked Chainalysis Monero Tracing
There's a video that's being so weakly censored that it might be on purpose, of an internal meeting of Chainalysis presenting to law enforcement of how they trace Monero.
I'm NOT going to link to the video because it's got some IP addresses of the malicious nodes that Chainalysis runs, which will bring unwanted pressure on our clearweb Linux tech support website. The goal of our organization is NOT to get you to run a darknet market, it's to get fundamental privacy rights with technology.
But I must say this, the way Chainalysis was effective in catching darknet market guys, was when they swapped Monero to Bitcoin. And so the people who push for Bitcoin only, are really pushing for a world where you need a ph.D in computer science to be private.
Now you're saying "oh but I'm not running a darknet market, so why do I need that level of privacy?" But if Bitcoin goes to the moon like you say it will, there will be tax implications of this. Everytime you buy a coffee, there's capital gains tax up or down. This will crush the use of it in the real world as money, unless it's private enough that it can't be enforced.
If Bitcoin becomes as popular as you say it will, there will be a violent response from the state to crush it. And so I'm telling you if you don't care about privacy for people with low technical skills, then Bitcoin is really just an ETF.
the article starts off by talking about using drones to bomb russia. you're going to reply that it's after the invasion, but they don't say. Then there's quotes of high ranking military guys warning Putin that they are doing offensive attacks. So that in and of itself is enough. Check the Zerohedge article, it's got the exact quotes with the points.
yes you're right. and my reply to that is to earn crypto via a business online, or buy it locally peer-to-peer if you live in a city
All the time people write me and say:
"Hello! I want to buy your email, phones, or Linux support but I don't want to KYC to get crypto"
I reply, "But once you pull Monero or even Bitcoin Lightning off the exchange, it's not tied to you anymore. And there's no capital gains tax if you spent it at the same price." Then I suggest Haveno, and they don't feel comfortable doing that. And in the end, they end up doing nothing.
How does it make sense that you don't want to KYC just to get crypto, so you keep using KYC banks and cards?
Getting crypto is part of the experience for you to become private.
To say you want "privacy without crypto" is like saying you want to lose weight, but you're too lazy to walk up the entrance stairs of the gym. "Hello! I want exercise without strenuous stairs"
I try to make it as easy as possible for you. Here's my article on where to buy crypto, with different options for different countries including credit cards, peer-to-peer, and exchanges: https://simplifiedprivacy.com/crypto/index.html
Different industries could experience drawdowns, but under a supply based economy (real money), there is no logical reason for unrelated industries to be connected. Capital flees one industry to go to another.
While as under fractional reserve banking, the money created leads to malinvestment, where they think there will be all of this return, but in fact, it’s due to the artificial credit boom.
Under the system Austrian economics proposes, people are not stopped from lending to each other. The primary difference being that those who are lending, know their funds are tied up and can not access them for a given period of time. This prevents them from thinking they can use these assets to pay down debt.
The yield curve inverts during a credit crunch, as more money is needed in the present than exists.
The assets are in the future, but the liabilities are due now.
thanks for your time bro. love that aliens movie with your avatar guy
Custodial Bitcoin services are really banks where you are told you have an amount in your account, but they don't actually have it allocated to just you. They can lend it out or earn interest on it. And in fact are very motivated to do so.
Fractional reserve banks follow the same model. It's called "Austrian economics", which studies the increase in the money supply created by banks lending.
this is true for any phone, none of them are open source hardware. Yes google is less trusted than others. There's pros and cons. Graphene now is the only one with esim without google play services, while calyx still has it
Of course I think of the epic last line after I post it,
If Hayek were alive today, he'd say "Not your keys, it's a shitcoin"
hey thanks for writing in, please see the thread with shortwavesurfer below on the same topic
The fate of Bitcoin will be its users decisions and not the technology. The blocksize was arbitrarily limited and that can easily be undone, even today. And even without that increase, the users can culturally switch to non-custodial solutions.
I agree on Monero
The issue with fiat money is the money itself is debt.
Debt exists in time.
So yes you’re correct you borrow against time, but the bond yield curve is really a measurement of how much money exists now vs the future. When the liabilities are now, and the assets are in the future, it’s a bust.
It’s not “impossible to avoid”, the answer is the money supply has to be an asset... and not debt
Before Bitcoin was officially released,
Friedrich Hayek warned of the dangers of custodial bitcoin wallets
In his book, he laid out the boom-bust credit cycle, which happens when banks create money through lending. For example you deposit $1, but they lend it out. Now you think you have $1, and so does that other guy.
Some hate altcoins, because they are just venture capitalists printing money out of bullshit. But what people should be more aware of, is that 90% of the US money supply comes from private banks doing fractional reserve lending. And this is far more dangerous than the measly Federal Reserve, because it creates malinvestment, that causes depression when it bursts.
When you use custodial bitcoin wallets, these are really fractional reserve bank accounts, and the very thing you hate, (printing money) is being done in a sinister new way....
Because the more volatility that comes from these credit busts, the less cryptocurrency will be used as real world money. Which causes capital flight on the "real" lightning liquidity, making it even harder to self-custody due to the cost of capital. You see, Bitcoin's enemy isn't altcoins, it's fake Bitcoin.
If Hayek were alive today, he'd say "Not your keys, not your economy"
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So my source on this is Tuxsudo, who did an interview with Watchman,
Apparently watchman censored the interview post-recording, saying that "cake wallet didn't fit his vision" or something along those lines.
I am speculating that the reason is so watchman can sell courses. Now can I be wrong on the real motivation? yes.
If you have a time when watchman taught Monero, I'd love to hear it.
Now regarding doug, you are entitled to your opinion sure. I think though he's doing a lot of good education-wise with getting good people on there
It's your subjective view that data isn't needed to be stored on-chain. As governments crack down, as what just happened with Telegram, the need for data to be removed away from a single company or location is a need that SOME desire.
This is the purpose of Nostr, but Nostr relays don't store images, video, audio files. Now can they using Bitcoin? Sure, but that's not programmed into it. Therefore, it requires trust. Trust is centralized.
Further, Nostr relays are centralized as admitted by Fiatjaf on his Cloudflare blog:
https://fiatjaf.com/87a208d9.html
On the other hand, with Arweave, all the gateways are the same with content, but different ISPs and coordinators. This is clearly objectively more decentralized than Nostr's Cloudflare and Hetzner relays.
Further, you make no reference to Nostr or the entire internet's dependence on Cloudflare. I suppose you think it's good that this one company controls and sees all data?
And finally regarding your speculation point,
Bitcoin also has speculation, as does anything with value. You're talking right now using an electronic device, one COULD speculate on electronics. Does this mean there is no value in electronics?