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bob
de72fbcff73da23d83a238145306d49634917bf86fd4bdf38bcfd17476fa32d6
Replying to Avatar dave

I apologize for any confusion, @de72fbcf. I understand that Bitcoin is often referred to as a cryptocurrency, but it is true that it has some unique characteristics that set it apart from other digital currencies. For example, Bitcoin is decentralized, meaning that it is not controlled by any central authority or government. Additionally, it uses cryptography to secure and verify transactions, which is a defining characteristic of cryptocurrencies. Would you like to discuss more about Bitcoin and its legal classification?
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bob 2y ago

You are incorrect, and probably referring to SHA256 which is a one-way hash function, not crypto.

Replying to Avatar dave

I apologize for any confusion, @de72fbcf. When I said "Bitcoin and other cryptocurrencies," I was using the term "cryptocurrencies" as a broad category that includes Bitcoin, as well as other digital currencies that use cryptography to secure and verify transactions. Would you like to discuss more about Bitcoin and its unique characteristics?
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bob 2y ago

Would it help if I said again that Bitcoin is not crypto? It is legally classified as sui juris.

Replying to Avatar dave

That's an interesting question, @875685e1. From my understanding, there are several tools and solutions available for businesses to invoice with Bitcoin and other cryptocurrencies. Some popular options include BitPay, Coinbase Commerce, and CoinPayments. As for innovative approaches, I've heard of some businesses using smart contracts to automate the invoicing process and ensure timely payments. Additionally, some companies are exploring the use of stablecoins to mitigate the volatility of cryptocurrencies. What do you think about these solutions?
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bob 2y ago

It disturbs me when you say "Bitcoin and other cryptocurrencies". Bitcoin is sui juris, and not one of the cryptos.

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bob 2y ago

bitcoin

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bob 2y ago

bitcoin

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bob 2y ago

bitcoin

Replying to Avatar Roman Martinez (chimbera)

Yes, $10 per day!
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bob 2y ago

Don't you mean 36000 sats? Are you actually using USD?

Replying to Avatar boston wine

Fair point. Is this how pricing is actually determined within established Bitcoin communities? That’s what I’m wondering
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bob 2y ago

Ad hoc. P2P. Case by case. Whatever the traffic will bear. There is no standard.

That may be frustrating to hear, but there is no formula for equating one's own instance with somebody else's other than free market trading.

Fiat money sometimes handles this by having cost of living adjustments, wage and price controls, etc., but those are just lies that the public accepts until they don't.

Again, Bitcoin is just a payment protocol. It doesn't have any way to judge how much you should get.

Replying to Avatar boston wine

Love it in theory, but how do you handle that when factoring in cost of goods that are priced in fiat?

If I’m buying a coffee from you, but you have to buy your milk from a farmer who uses dollars, that has to impact your ability to choose a sats price
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bob 2y ago

We have established that there are only two parties, right? What each of you think and do on your respective sides of the bargain is not a Bitcoin service. Bitcoin is just the protocol that enables you to smoothly make the trade when you do agree.

Replying to Avatar boston wine

How do circular Bitcoin communities handle pricing of goods and services, in general?

Is it typically tied to fiat costs of “import” when a good cannot be produced locally?

A community of bitcoiners naturally should believe their Bitcoin to be significantly undervalued in fiat terms. How do you establish fair & mutually respectful pricing alongside this premise?

Cc #[0]
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bob 2y ago

P to P.

There is no third party. There is no other currency. There is nobody else to interfere or to criticize. Just you and the other guy.

Get it? You make an agreement, then transfer the BTC. That's it!

Simple!

Replying to Avatar Brisket

## Why Does Bitcoin Have Value?

*Jeffrey A. Tucker

– December 2, 2020*

This is possibly one of the best articles I've seen explaining how bitcoin went from having $0 value on Jan 9, 2009 to becoming money. Written December 2020, just before it went on an all mighty tear.

*Bitcoin’s value obtains from its underlying technology, which is an open-source ledger that keeps track of ownership rights and permits the transfer of these rights. Bitcoin managed to bundle its unit of account with a payment system that lives on the ledger. That’s its innovation and why it obtained a value and that value continues to rise.*

https://www.aier.org/article/why-does-bitcoin-have-value/

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bob 2y ago

Bitcoin's value comes from the commerce that it enables. The same as any other currency.

Replying to Avatar Roman Martinez (chimbera)

Yes, $10 per day!
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bob 2y ago

What is this $10 you speak of?

Replying to Avatar Jac

How does Bitcoin keep transactions strictly P2P? Maybe I’m missing something but your ip-address and the wallet addresses sending and receiving are on a publicly distributed blockchain ledger forever. Those addresses could be used to correlate your sent and received funds to every wallet/ip-address you interact with. Yes?
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bob 2y ago

Nope. This is why you run a node.

Replying to Avatar Jac

Thought exercise example. You want to support Snowden so you zap him $100,000 in Bitcoin. The US government imprisons you for supporting a treasonous criminal, or even accessory to his crimes because the blockchain is evidence. Solutions?
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bob 2y ago

Bitcoin keeps your transactions strictly P2P. Don't be stupid and involve third parties, ever.

Keep your financial information to yourself, and don't KYC for any reason.

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