u/Nichoros_Strategy

Drop the appeal to authority nonsense, you’re pulling things out of your ass on Reddit as so many before you have lol

You can’t just put everyone in a box like that so easily. Why don’t you explain how not having the list improves the situation?

Someone thinks about doing such a thing, remembers that if caught they will be on a public list that everyone can see, and then maybe doesn’t do it?

I think you and whatever org you were apart of fails to understand that the existence of the list can also deter people from doing the crime so as to not get on the list

This isn’t about “needing” something, it’s merely an informative tool that might help more than some generalist advice like that

You said you’ve never seen people use it effectively, that part is anecdotal. So you did specific research that professionally concluded that the list is pointless and would be better to not exist?

So you’ve used the list and it made you aware, are you saying it’s better for people to not have it and be ignorant?

Why are you basing how it should be off of your anecdotal experience? Plenty of people have opposite anecdotes to what you’re saying about it. It’s simply another layer of protection, so what’s the issue?

Mitigation is realistic, perfection is not.

People tend to have more than one reason to move, so it’s something to put in the “cons” column regarding whether to stay or not

There are four lights!

Borrowing is all that gets cheaper. Some people don’t borrow regardless of rates so they don’t get rewarded and still have to responsibly navigate more inflation, as usual. Though investments tend to benefit.

Szechuan is back at McDonalds

And the problems to now fix.

It’s this, almost like a cult, the desire to maximally juice the economy resulted in isolating people. Once big normal families, and friend of family networks, with multiple generations intertwined who could have helped each other efficiently as a unit, were pressured apart. An efficient family doesn’t spend as much, after all.

Hey now, there’s plenty of room for various foreign subverters in the U.S! Sometimes they get in the way of each other, sometimes they don’t.

lol. The trading volume of Bitcoin is like $25-50 Billion per day, the market can easily absorb 200 coins…

A centralized verification, however, meaning there is a company with humans in charge, and those humans can change the system, cut off service to anyone for any reason, and even collapse altogether as a system. Credit card companies are also acting as lenders rather than simply moving value, but same thing applies to banks. The 3% charge tends to be paid by the business benefitting from taking people’s card, but also they sometimes have to deal with chargebacks. These entities are also tied to the country’s fiat currency, so relies on the Government and some Federal Reserve type bank to keep the inflation/deflation in order, and that too is dependent on centralized groups of humans.

Bitcoin verifies in a decentralized manner, no one is in charge of Bitcoin’s operations, no one can change it without a proposition which achieves sweeping vote majority (much more than 50%) from those with skin in the game from all around the world. It doesn’t rely on any country, it doesn’t need to build a country’s infrastructure nor raise a military to protect anything, and its monetary policy is highly predictable. Any lending of Bitcoin comes with the immense risk of its scarcity, so generally is only done in a very controlled short term trading environment (such as in order to short it on an exchange) but outside of that it would demand a very high interest rate to risk lending out. It is more likely to be treated as collateral instead of credit. Charge backs do not exist (to the benefit of those trying to accept it as a business) unless the receiver chooses themselves to send a payment back. It also has a somewhat less decentralized and optional 2nd layer called Lightning Network, which WILL process transactions just about instantly and for significantly lower fees compared to the base layer. You can also hand over Bitcoin to some centralized network and wallah, it’s as fast as changing database cells. (Only now they hold it, not you)

This here is the stairway to heaven

Good if they realize it might be smart to build up a serious war chest, potentially to back a future standard. Bad if they’re just going to dump eet. But yeah, it’s the bad one for now. If they auction it off to other investors, probably not that big of a deal, other than you have less BTC. If you needed the tax money though, it would you be dumping on exchange, anyway.

Roman Denarii, the central Government currency that changed from something 95% purity silver, to 5% via Government debasement driven by the debt of the Roman Empire. That is not at all something like Bitcoin, that is the very reason Bitcoin was invented, to stop humans in power from ruining everything they touch over time, and damning their people along with it.

99% of the currencies ever made up by man have their “rules” dictated by small groups of men throughout history, and those rules too easily changed on the first hints of pain for the central power. That is the difference between pretty much every currency in history and Bitcoin once it emerged.

You can say the world will just adopt some other project, but my argument to that would be that none of them are nearly as entrenched, truly, those not using Proof of Work have serious issues of one or both centralized delegates/nodes which vote rather than miners + concentration of passive rewards without work or any sort of maintenance, leading to inevitable “compound interest” issues. And of course any other project using proof of work is like a drop in the ocean compared to Bitcoin.

As one way to explain it. Mining is entrenching Bitcoin into human life and infrastructure in a very real way, those mining machines can’t just switch to something else, you know that, right? What other “Crypto” is doing something similar?

With these types of things, the first mover advantage is another factor in the race for global adoption. I believe that this is a technological race not unlike the formation of the Internet as a global and opened network. Back then, developers had developed a few different protocols vying for how the internet should be connected and structured. It was the earlier, and most entrenched protocol that gained the literal monopoly as the backbone of the Internet, that of course is TCP/IP, also a decentralized protocol. Any of its competitors fell away as it was adopted, almost no one today even remembers what they were.

If you want to talk about some real pollution, let us turn our attention to the banking system, which goes hand in hand with Governments, funds massive militaries due to there being no limits or discipline imposed in our money, so not just all that extra pollution, but death and destruction. Subsidizes endless dirty industries and, if they run into trouble, bails them out. The banking industry too uses outrageous amounts of electricity if you consider its entrenchment all across the world, occupies buildings, drives vehicles (and makes you drive your vehicles if you need to use an ATM). If you think the banking system, which is what Bitcoin competes against, is surely rooted in good by now, just go back in history and read about their activity in global conflict over time, I’m going to go ahead and say I don’t think they’ve changed their ways, if anything it is worse.

First mover advantage with also the best origin story, the ability to integrate useful innovations (so long as it doesn’t require making trade offs that weaken its core functionality and fundamentals) into itself when there is consensus, often a slap to other projects who thought it was their selling point.

First mover isn’t just a cute title, it means Bitcoin was integrating itself into parts of the internet and real world before most alternative projects existed, this makes it sticky. Like when there’s a race to which new technology will become the standard. TCP/IP at the early stages of the internet is a good example because I believe it did have competing protocols, and some maybe had minor advantages over TCP/IP even, but the world went the way it did because TCP/IP already had started integrating, more people/engineers knew it and were training in it, etc.

That all seems to be moving along as expected with BTC having the earliest ETF, and currently only the possibility of an Ethereum ETF following (Ethereum also having moved away from proof of work, very much differentiating it, but the trade off is not suitable to BTC and comes with those problematic tradeoffs). Even mining is an industry of its own with stock listings of mining companies. Those machines they run can only be used to mine BTC.

The rest of the value proposition is the standard stuff, it being unstoppable, scarce with a fixed final supply, the halving, peer to peer trade anywhere in the world, no required middlemen, no chargebacks, 2nd layer solutions working, the closest to true self custody of property we’ve ever seen.

People aren't doing nothing. They're getting rich. it will ripple decades from now.

Boom I still got it

Yep, so many things which are not calculated into the inflation numbers.