Again your argument is that countries without fraud oversight committees are where bitcoin thrives best. That's not a compelling argument to make. And that has nothing to do with any features of bitcoin but the situations certain countries are facing, from which it seems like bitcoin isn't helping, but exploiting, again because they've found unregulated markets to exist in without any fraud oversight committees to punish them. You're bragging about that like it's a good thing.
navigate the bitcoin market? wtf does that even mean. you mean buying/storing bitcoin? its easy and and gets easier everyday.
So, bitcoin is just a means to store wealth and not actually use for day to day transactions like people use with their debit cards? Did you know that people in poverty don't have time for their wealth to accrue and need to spend what money they make in order to survive day to day?
you could of read the last three pages of this thread or just googled and found out how bitcoin is used to make day to day transactions. you aren't interested in learning
Countries/Jurisdictions of Primary Concern - Afghanistan BUREAU OF INTERNATIONAL NARCOTICS AND LAW ENFORCEMENT AFFAIRS 2014 International Narcotics Control Strategy Report (INCSR) Report **** yea! Bitcoin helps Afghanistan! Poor countries without fraud oversight committees are where bitcoin thrives best! It's the future!
I know, I've been to gas stations in rural America like Indiana and seen bitcoin ATMs and whatnot. But your initial statement that I quoted was the purpose of bitcoin is to store wealth. But you could just store your wealth at a bank or a credit union and have better consumer protection laws in place should you ever become a victim of fraud or forget your password. Like if I was to use my bitcoin wallet at a bitcoin ATM at a gas station in Indiana to take out some cash to fill up the tank at the register, and there happened to be a card scanner installed at the ATM by a criminal, and my information gets stored and then my account gets drained, I don't have any consumer protection laws in place to get my money back do I? However, same situation, I take money out of a ATM with my debit card, and again there's a card scanner installed by a criminal, and they got my information, I can report that, get my money back after investigation, get a new debit card with different numbers, change my username and password and freeze my credit which is just best practice anyways. All this is stored on a ledger for reference. I'm protected should I ever be a victim of fraud. That's nice. I like that. How is bitcoin better with less features like consumer protection?
That's not an argument I've made. I noted that the "public ledger" concern you raised simply isn't applicable (AFAIK) to the Afghani refugee situation. AML/KYC regulation is a separate topic with its own plusses and minuses, but either way it doesn't change the utility of BTC for the vast majority of people.
-I dont support NFT's or Web3.0 or 'cryptocurrencies' or whatever else you throw out. Those are not Bitcoin. I am not sure why you keep bringing those up unless you dont understand Bitcoin enough to understand the difference. -I dont view or believe Bitcoin should be used as a currency ...at least at this point. I am not encouraging people to dump their banks and pay people in bitcoin. In my previous posts, I have clearly stated I do not recommend bitcoin for people who do not want to put for the effort to understand the importance of the security. -Again, PUBLIC KEY or any part of the Bitcoin network does not contain the identity of individuals. I think you are struggling with this concept. I don't share my public key with anyone or tell anyone about my finances. -You feel you have done your due diligence on this topic and are well informed enough to make decisions. I agree with you. You should stay very far away from bitcoin. Its not for you. I am not trying to convince you to get involved. I dont understand why you continue to come back and try to persuade me otherwise.
But what is the utility? It offers a service that's worse than what banks and credit unions offer and doesn't protect consumers while taking up more energy to process a transaction. And it's not decentralized. If you ever want to cash out your bitcoin, you have to sell your crypto on a marketplace like coinbase or Kraken right? So it still has to go through some institution that will convert your bitcoin into money. And there will be a fee attached to that transaction that will fluctuate based on the volatility of the market. Sounds like what a bank or credit union would do except banks and credit unions won't issue a transaction fee based on market volatility that on a bad day could markup the cost to transfer your funds. It would seem like institutions like coinbase and Kraken stand to gain the most from bitcoin as they always get to charge a cut of what it takes to cash out on your earnings.
Bitcoin is for your enemies too. Current use cases for bitcoin are very limited. Anyone who is a Bitcoiner should agree to that statement. This is the bridge in which you are struggling with. Understandably so when most Bitcoiners are busy evangelizing the topic and talking about how bitcoin fixes everything if everyone some how magically believes in it (sounds very much like the global warming debate). There is a whole macro economic take on it. **IF** bitcoin reaches the marketcap of gold (and its very plausable), it could become a global medium of exchange for countries themselves. No longer will countries have to worry about sanctions from the global imperialist's if they wish to trade with other 'sanctioned' entities.
You view that as a good thing? It seems to touch back on this post here. How North Korea’s Hacker Army Stole $3 Billion in Crypto, Funding Nuclear Program Regime has trained cybercriminals to impersonate tech workers or employers, amid other schemes I think imposed sanctions are used to deter a country from doing something awful like invading a foreign nation to claim it as your own while genociding, pillaging and raping what residents live in that territory. I would view countries that commit such atrocities and their ability to avoid sanctions imposed on them as a bad thing, which again goes back to the whole, it's funny how bitcoin only seems to thrive in countries with lax or no fraud oversight committees. As far as gold goes, at least gold has some practical usage beyond being shiny and heavy. I understand the value of precious metals especially given the increased used of technological hardware that's become more and more prevalent among people that live in developed nations. I'm still failing to see what value bitcoin offers that's better than what banks and credit unions already do that again offer consumer protection that bitcoin still fails to address. Page 2 of this thread.
We sanctioned Russia. How did that go down? Bad things have always happened and always will happen. As a species, we should come together to solve the problem. The United States does not represent the human species. Our country does not have the right to decide who gets to participate in the global economy. That should be up to all the countries on this planet. Gold has very little intrinsic value. It would be worth a fraction of its value if it wasn't a SOV. Bitcoin, in its current state, has little value outside of speculation in areas where property rights are respected. This has been stated to you several times in this thread today. Bitcoin, outside of its speculative value, is a terrible fit for you. Don't buy it. Jan 2014. Bitcoin just came off a ~5x run up before coming back down to ~1/3 of its ATH. A million coins was worth about ~200 million dollars. A million coins is now worth ~26 billion dollars. It is more difficult to manipulate now. And no fatal flaw has been found. I have since changed my perspective after doing countless hours on this subject. Its ok to change opinions.
If a country is invaded by another country, doesn't that circumvent their right to participate in the global economy? Shouldn't other nations with similar values form a coalition, like say NATO, and determine what to do to punish nations that invade other countries and prevent them from participating in the global economy? Something like sanctions even. It would seem something like crypto circumvents the intended consequences of sanctions when a nation invades another nation and doesn't allow them to participate in the global economy. You spin this like it's a good thing. I'm curious why.
Lol…. A global government? But no…. A global anarchist, digital government? And who decides how a global government works?
