We had this conversation over a year ago after the NFT Folding At Home video. How can someone as smart as you have such an awful memory? That video pretty clearly illustrated how there's no real world use case for bitcoin. I mean if we're talking security, when I login to my bank or credit union account and have to go through SSL and HTTPS, there's a public and private key too. There's encryption and it doesn't cost nearly the amount of energy to secure my connection online as bitcoin. Except if I am a victim of fraud, because I have a virus or security flaw on my computer and am prone to say a MITM attack or have a keylogger installed in the background that then gets sent to the attacker, I am guaranteed up to a certain amount of money returned back to me. Or say I go to use my debit or credit card and there's a card scanner by a criminal installed on the gas pump, and I start seeing $500 gift card transactions being made across all gas stations up a specific highway, I can freeze that and report it, have it investigated and then get my money back. It sounds like I'd have much better consumer protection than what you're proposing. I understand that people clever enough and with enough time and resources are capable of committing crimes and get away with it more often than they're caught, therefore, it's always pertinent to be as secure with what you have and protect it so you don't need to go through all the pain in the ass labor of fighting to get back what was stolen from you. I fail to see how my transactions being on a public ledger does anything to really protect me. Or say my banking or credit union gets hacked by NK, again I am still assured up to a certain amount per account, money that was lost from the attack. Like if I was wealthy, the last thing I'd want is for people to be able to track how much wealth I have on a public ledger. That sounds like a great way to get a family member kidnapped and held for the ransom or some ****. That kinda makes sense to me how you have these multi-millionaire crypto gurus that scam the gullible and end up in suitcases after their body parts are dismembered and found in Central America. Which again goes back to one of the questions I've asked you and tallanvor. How does bitcoin protect Afghan women from the Taliban and hide their wealth? It sounds like after years of the same issues, there's still nothing being done to address the lack of consumer protection. Bitcoin doesn't do anything better than what's already out there. You needed to make up fringe online value with NFTs and Web3.0 and still haven't found anything useful that bitcoin does better than what's already available. It's still the same gambling casino it's always been with almost no consumer protection for being gullible enough to still buy into it's bullshit.
Not a lot of great countries, with strong rules of law or strong currencies. I would imagine the dozen more follow the same pattern.
Not a lot of great countries, with strong rules of law or strong currencies. I would imagine the dozen more follow the same pattern.
Every question or concern you have raised has been addressed multiple times throughout the life of this thread.
Appropriate use of Trump there. You act very much like him when it comes to this topic. Woefully ignorant yet brazenly confident.
The same way it helps everyone secure their wealth. A seed phrase can be stored and transported much more discretely than any other asset. Hell, if you memorize it, your bitcoin dies with you. The 'public ledger' part isn't really a concern to the Afghanis since I'd imagine they don't have any KYC oversight.
Why not just use a YubiKey for all your personal accounts that you'd conduct transactions with? It's the most secure way. https://en.wikipedia.org/wiki/YubiKey And you don't have invest a dime into bitcoin in order to have that type of security. I memorized my driver's license on the off chance I forget my wallet while on the road and get pulled over by LEO. I imagine I will die with that memorized. I am so secure. I don't get the point of that sentence. I don't get your point as to how Afghanistan is too poor to have a fraud oversight committee and therefore it's easier to get away with hiding your wealth on a public ledger and is situational and has nothing to do with any features of bitcoin. That actually seems like a negative. You're saying a country too poor to have a fraud oversight committee is why Afghan women can hide their wealth on a public ledger. But the purpose of a fraud oversight committee is to catch fraud right? So, bitcoin thrives in marketplaces where there is no fraud oversight committee. Got it.
because those are centralized and therefore your accounts aren't protected. More over we are talking about people with no access to banking systems. they have no accounts. I agree with Space Ghost, that you have spent no time trying to understand Bitcoin.
Ok, but you could also just ditch your debit card and burn it even. Hide all evidence you have money saved at a credit union or a bank and then on your travels with what cash you have on hand as you make your journey to Europe. You land in Europe, access a computer, login to your credit union or bank account and voila, your funds are still there. And again there's consumer protection. So if say some fraudulent **** did happen on my debit card, I could report it, like from dishonest middlemen and common thieves and get my money back. Right? So what does bitcoin do different?
For people in perilous situations, Bitcoin is an absolute life saver. This is the foundational, first-principle use case for BTC. Preservation of wealth against turbulent and insecure circumstances. This is also part of why comfy Westerners don't really get it yet. We don't have to deal with censorious or totalitarian governments. We enjoy a privileged position with the world's reserve currency. We don't have to deal with personal security and wealth preservation threats at every turn. For us Bitcoin isn't a matter of life and death. For many in the third world, it is.
all those banks and credit unions these refugees have access to in Afghanistan..... More over none of this protects you from the banks in Europe.
But your accounts aren't protected on bitcoin either right? Like, otherwise there wouldn't be all the crime that's committed on it right? And again there's no consumer protection in place for victims correct? At least when crime gets committed and you have money stored with a bank or credit union, they'll back you up to a certain financial amount. You get that assurance in consume protection. What does bitcoin do?
what crime? if your bitcoin is stolen it means you trusted a 3rd party to store your info for you and they got hacked. something along those lines.
Because you don't have to rely on a bank (or a cooperative government). 1.5+ billion people don't have or do not have access to a bank account.
Then again, if you're fortunate enough to hold a few million worth of btc, might want to memorize 3-4 of those 24 word seed phrases.
So wait, Afghanistan is too underveloped to have banks but is developed enough to have oppressed Afghanistan women with the knowledge of how to navigate the bitcoin market? And these same people are also averse to all the fraud that so many American investors, typically from middle class families with disposable income are exposed to and are able to accrue wealth? Here I was thinking things like food, water, shelter and a safe place to live in is what 3rd world countries value most. Now I know, it's bitcoin. Gotcha.
