Except there’s nothing to make bitcoin valuable at all to most normies in a post-fiat world. Being able to buy and sell goods online when there’s no one getting paid to truck it out to me or worst at a post office to handle it for me until I come and get it doesn’t really work. Having someone show up and ask to get some diesel from a farm tank in exchange for some bitcoin? Or rather “part” of a bitcoin? Or some shitcoins? Good luck getting that trade to go through.
Maybe, just MAYBE there’s would be a chance for bitcoin to slip in as a dominant currency if it was the only game in town but with all the other coins like monaro, etherium, etc etc etc all eating each other to try and be worth something? There’s nothing to back up any shitcoin at all, or bitcoin. Don’t care if you bought it online or mined it yourself in your basement, it only has use as a medium for exchange if both parties agree to it, and most people simple don’t want or need to take these digital coins.
200 Years ago and thousands of years before that, gold was the primary source of money. It worked even tho there was no (((middleman))) there to rip you off by stealing the value out of your money.
Bitcoin and other major decentralized cryptocurrencies are built on the same principles as the properties of gold, only digital. Which is exactly why it should work as a drop in replacement to digital banks, same way gold should be the perfect drop in replacement for cash.
It's time to smoke out the (((middlemen))) and reclaim the value of our money.
While I love the idea of getting rid of the middlemen (in everywhere from finance to useless middle management causing bloat in every business sector), bitcoin and digital coins still haven’t gotten there have they? When switching between digital coins, there’s still a fee. Many a time have I heard the digital coin bros complain about the gas fee on X, and the network servers them selves are a middle man. Unless you’re printed out the code to a bitcoin on a piece of paper, and handed it to someone else and exchanged a good or service for that, you need the network as a middle man. Hell, even doing it that way the guy you gave the printed out bitcoin code to still needs to do something on the network to add it to his wallet officially unless he’s just going to trade the paper to the next guy in the chain of trades.
There's a difference between a middleman with control and a middleman without control. The network is simply all the miners competing over the next block, anyone can become a miner and no single miner can censor or surveil particular transactions.
Sure lower fees would be cool, but it's not the money that I'm worried about. I don't mind paying for a digital transaction, as long as I can be 100% sure it arrives in full to where I sent it, without anyone fucking around trying to steal it from me, block it or reroute it.
But you still need trust in that system to be secure. Over 50% consensus of the severs required for a change to be accepted sounds good until some bad actor like a government or two or more working in cahoots decide to subvert it. There’s already work in progress to de-anonymize the TOR network, these agencies love control and there’s no way they won’t attempt the same for digital currencies.
With banks, employees and owners are known and public record and if there’s fuckery, you have someone to go after legally. With the bitcoin network, if a person gets scammed there’s no one to turn to for recompense. You’re just shit out of luck. Exchanges have been hacked and people have lost millions, so you can trust them to be secure. You have to go through hoops and store your coins in offline wallets, and then incur risks when you put them online to use them.
With the network decentralized, there’s no governing body to oversee and provide security, you HAVE to trust that the network hasn’t been compromised. How can you be sure of this? How can you check to see that China hasn’t infected 3000 servers and placed 20000 more online and gained 51% control and now determines what is and what’s isn’t an authorized transaction?
Except there’s nothing to make bitcoin valuable at all to most normies in a post-fiat world. Being able to buy and sell goods online when there’s no one getting paid to truck it out to me or worst at a post office to handle it for me until I come and get it doesn’t really work. Having someone show up and ask to get some diesel from a farm tank in exchange for some bitcoin? Or rather “part” of a bitcoin? Or some shitcoins? Good luck getting that trade to go through. Maybe, just MAYBE there’s would be a chance for bitcoin to slip in as a dominant currency if it was the only game in town but with all the other coins like monaro, etherium, etc etc etc all eating each other to try and be worth something? There’s nothing to back up any shitcoin at all, or bitcoin. Don’t care if you bought it online or mined it yourself in your basement, it only has use as a medium for exchange if both parties agree to it, and most people simple don’t want or need to take these digital coins.
200 Years ago and thousands of years before that, gold was the primary source of money. It worked even tho there was no (((middleman))) there to rip you off by stealing the value out of your money.
Bitcoin and other major decentralized cryptocurrencies are built on the same principles as the properties of gold, only digital. Which is exactly why it should work as a drop in replacement to digital banks, same way gold should be the perfect drop in replacement for cash.
It's time to smoke out the (((middlemen))) and reclaim the value of our money.
While I love the idea of getting rid of the middlemen (in everywhere from finance to useless middle management causing bloat in every business sector), bitcoin and digital coins still haven’t gotten there have they? When switching between digital coins, there’s still a fee. Many a time have I heard the digital coin bros complain about the gas fee on X, and the network servers them selves are a middle man. Unless you’re printed out the code to a bitcoin on a piece of paper, and handed it to someone else and exchanged a good or service for that, you need the network as a middle man. Hell, even doing it that way the guy you gave the printed out bitcoin code to still needs to do something on the network to add it to his wallet officially unless he’s just going to trade the paper to the next guy in the chain of trades.
There's a difference between a middleman with control and a middleman without control. The network is simply all the miners competing over the next block, anyone can become a miner and no single miner can censor or surveil particular transactions.
Sure lower fees would be cool, but it's not the money that I'm worried about. I don't mind paying for a digital transaction, as long as I can be 100% sure it arrives in full to where I sent it, without anyone fucking around trying to steal it from me, block it or reroute it.
But you still need trust in that system to be secure. Over 50% consensus of the severs required for a change to be accepted sounds good until some bad actor like a government or two or more working in cahoots decide to subvert it. There’s already work in progress to de-anonymize the TOR network, these agencies love control and there’s no way they won’t attempt the same for digital currencies. With banks, employees and owners are known and public record and if there’s fuckery, you have someone to go after legally. With the bitcoin network, if a person gets scammed there’s no one to turn to for recompense. You’re just shit out of luck. Exchanges have been hacked and people have lost millions, so you can trust them to be secure. You have to go through hoops and store your coins in offline wallets, and then incur risks when you put them online to use them. With the network decentralized, there’s no governing body to oversee and provide security, you HAVE to trust that the network hasn’t been compromised. How can you be sure of this? How can you check to see that China hasn’t infected 3000 servers and placed 20000 more online and gained 51% control and now determines what is and what’s isn’t an authorized transaction?