Bitcoin as a unit of account

Discussion in 'Crypto Assets' started by johnarb, Jan 7, 2024.

  1. Tell me you missed out on buying bitcoin without telling me you missed out on buying bitcoin...that video is correct. Look at how pizza equity has dwindled against bitcoin...1 pizza used to be worth 10,000 bitcoins...now it is worth 0.00046 bitcoins. :)
     
    Last edited: Jan 7, 2024
    #21     Jan 7, 2024
    johnarb likes this.
  2. johnarb

    johnarb

    Gold had many disadvantages that made it difficult to be adopted widely, difficult to verify, difficult to transport, not very divisible

    These are the areas that bitcoin excels in

    Current estimate of 150M worldwide that own bitcoin and still has a lot of room for adoption

    [​IMG]
     
    #22     Jan 7, 2024
    jbusse, wxytrader and semperfrosty like this.
  3. johnarb

    johnarb

    New law for US people

     
    #23     Jan 7, 2024
    NoahA likes this.
  4. I totally agree with you. Bitcoin is new and very different then current national currencies and historical reserve currencies.
     
    #24     Jan 7, 2024
    semperfrosty likes this.
  5. NoahA

    NoahA

    I read the best explanation of this. The theory goes that someone apparently owed Craig Wright some money, and since Craig claims that he is Satoshi, the sender assumed that Craig would just be able to spend it himself since he should have the keys to that address!!!! Absolutely brilliant.
     
    #25     Jan 7, 2024
    jbusse and johnarb like this.
  6. NoahA

    NoahA

    Good explanation here as well!!!
     
    #26     Jan 7, 2024
    johnarb likes this.
  7. johnarb

    johnarb

    This is dangerous, one of the replies on the thread mentioned it could give the DOJ reason (felony for failure to report) to go after Satoshi with the full force of the courts, subpoenas to isp's, fbi investigation

    This will definitely crash the price of bitcoin if Satoshi is revealed or arrested... but it would be temporary, and if needed fork the bitcoin core software to a new repo

    The deadline is 15 days, not sure if any efforts to put together a fund raising to have a law firm claim ownership of the address, report the transaction and challenge the law in the courts

    This law is crazy, could be all planned out, the 26 bitcoins could be from someone working with the US gov, this is a deliberate setup, the amount is egregious so cannot be "accidentally go unnoticed" by Satoshi

    It's a good one, but not gonna be practical. Payment for any debt has to be in an agreed upon payment method, Craig would easily say he did not accept the terms of btc payment
     
    Last edited: Jan 8, 2024
    #27     Jan 8, 2024
    NoahA and Tokenz like this.

  8. https://www.bbc.com/news/blogs-echochambers-27074746

    Anyway Craig Wright resides in the UK so a big middle finger to this shakedown lol.
     
    Last edited: Jan 8, 2024
    #28     Jan 8, 2024
    johnarb likes this.
  9. johnarb

    johnarb

    I don't want to be the fudder, lol, but since Craig never proved ownership of any of the Satoshi coins by signing with the private key or moving any of the coins, it can be easily argued that the DOJ can proceed with the investigation, plus no US courts established Craig as Satoshi

    With FISA and secret courts, they could do this without announcing on the pretense of national security, anyway, I'm no lawyer so probably being too paranoid
     
    #29     Jan 8, 2024
    Tokenz likes this.
  10. Pekelo

    Pekelo