RedDuke, you have to get past this mindset. We were thinking the same way a year ago. I too agreed that Tether was a huge problem, and I'm sure that it was responsible for a huge pump in the BTC price. But honestly, I now cannot imagine a world without BTC. In fact, I wonder how BTC can be so cheap given how it will absolutely revolutionize currency and finance on a global scale. Maybe a new coin comes along, I can't say what will happen in 5 or 10 years, but the fiat standard is collapsing all around us. Look at what Russia is doing. They want to be paid in Rubles for their gas. Now imagine the USD being cut out from half of the world trades! But we of course know that any country and their shitty fiat is just as bad of a deal as well. Some think we might be turning back to gold, but it creates the same problems in terms of trust. Can we trust what any country has in their vaults? Now lets talk confiscation. The US essentially stole any USD that Russia had. We saw in just the past few months that regular citizens, extremely rich oligards, and entire nations can be removed from the system at will. Do you really want to hold your net worth in something that can be so easily taken away? When you go down the list of think that BTC fixes, if you truly give it some thought, you have to wonder how its not more expensive. Governments will be absolutely brought to their knees by the will of the people not wanting to be screwed over anymore. Its not so much that the government will force something on its citizens, it will be more so that the government will be forced to comply with the request of the citizens if the officials want to remain relevant.
Yes, yes and yes. You're giving all the reasons for btc not to replace fiat currencies. Why do you think something created by tech idealists with limited input from all other walks of life would be allowed to upend a mechanism that governments use to manage their economies and use to affect other economies? As long as btc is considered as an alternative to fiat it will fail. It may join the likes of gold perhaps at some point in time, but currency? Probably not for a few decades.
You make it seem like the governments will have a choice. They have already run the current system into the ground. Governments shouldn't be managing economies because they do a horrible job of it. Any time the government tries to help, they end up doing something far worse. How long have they been trying to make housing more affordable and what has happened? A government should only collect taxes and distribute it in such a way as to provide services that the majority will benefit from. People say how BTC can be your savings account, and fiat your checking account. Fine. But if the majority know that holding dollars is costly, since you will lose to inflation, why would anyone hold anything but the bare minimum for paying immediate bills? The currency would be trash for the most part.
Internet is a great invention of our lifetime. It has allowed global communications to anyone at the least possible cost A great example of an application that we almost take for granted nowadays is Voice over IP. Before this,, a call overseas cost a lot of money, now, just download an app like Google Hangouts or Apple or FB and talk for free Same with Video conferencing over IP Now, you can use it to shop online, do banking online, post pictures for your social friends and families, and discuss on Elite Trader ----------------------------- However, please, please, I hope this hits hard, Bitcoin is money over IP, money over Internet Bitcoin is so revolutionary, I wish I can convey into words I've tried, but I know there's all these stuff that keep fudding the minds, i.e. Tether, environmental, government banning, used by criminals and terrorists, 0's and 1's and not physical, tulip, bubble, etc However, if you focus on the positives, you'll be shocked and amazed at what Bitcoin and cryptos currently are able to offer. And who knows how great the future can be Global monetary asset Decentralized, immutable and censorship-resistant Money that cannot be debased by any government Imagine you have $100K in the bank and you convert into Bitcoin and put in your local wallet Think of this carefully and imagine yourself 13 years ago before Bitcoin and cryptos ever existed You have $100K that is local to your physical location. Cannot be transferred halfway across the world without getting permissions from all the intermediaries, banks, governments and you hope the recipient will not have any problems Anyway, I do not think this post makes a difference. It never does. The journey to understanding how BIG of a revolution Bitcoin is to seek to understand studying it and something will click if you let it happen I recommend 3 books: The Bitcoin Standard, Digital Gold, and Layered Money It's up to you if you want to understand how BIG the problems that Bitcoin solves, but please DO NOT POST that Bitcoin does not solve any problems, because it solves the biggest problem in the world which Money During this time of very high inflation, along with ZIRP/NIRP, along with Covid, along with war, along with supply shortages, along with government seizure of assets Bitcoin is the greatest solution to the biggest problem of all, which is ultra sound Money I would post 2 youtube videos that are very compelling, but I don't think either one of you would watch it Read the books, what can you possibly lose except a few hours and a few dollars for the price of the books? If you truly want to learn and understand Bitcoin's value proposition, you owe it to yourself
What if a guy like this steals the USB with all the government reserve bitcoins on it. These buttcoiners can't think.
Good movie, but you do know there are no Bitcoins on any USB or hard drive Bitcoins are on the blockchain You should just steal over 1M Bitcoins owned by Satoshi Call all your Mission Impossible x and Ocean x friends and you can have $50 Billion worth of Bitcoins
I've said it before... Big fan of blockchain. Massive use potential. I believe in btc as an alternative to gold for the time being.