Bitcoin is about to die
(www.barrons.com)
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BS propaganda from liars
Well, all they have to do is turn off all exchanges to fiat conversion and it is game over.
Crypto/digital assets are only a thing because it can convert to fiat.
Arguments against?
BTC existed and prospered BEFORE exchanges is a pretty strong argument.
Lets hope central banks never turn off conversions from fiat to gold so it'll be game over.
Not sure if serious?
Money's value used to be PINNED to value of gold.
Currency used to be a Gold Certificate. A Gold Certificate is a United States issued paper money bill that was fully redeemable in its face value of gold. This means back in the late 1800s and early 1900s you could bring a Gold Certificate to the bank and receive equal value in gold to the denomination.
The fiat currency now is not redeemable for gold. It takes more and more fiat to buy an ounce of gold. The fiat currency loses value every year.
Not serious, since an even remotely comprehensive rebuttal would be long enough to read as a leftist meme.
The regime would basically have to shut down the internet, and possibly electricity, to make it game over for crypto. And then the world would have larger problems.
Meanwhile their own fiat currency scam has been decoupled from gold, is being inflated out of any semblance of value as fast as they can get away with, and they routinely prohibit bank transfers from and to individuals as well as organizations and countries. And their current project is to shut down fiat cash. These problems can only be solved with an insane number of impalements.
NO.
You are all missing the point.
I am not saying that the network will go down.
The network can continue ad infinitum.
Peer to peer exchange of BTC can continue ad infinitum.
So what, if you cannot convert it to fiat or CBDC?
Example...you have 100 beans. I and 29 friends keep exchanging the beans. They are good and great beans. No one else knows that we are doing this.
We value one bean $16,000.
However, noone else in this planet (except the 30 of us) likes to do anything with these beans.
Noone is stopping us for swapping our beans, lending it to each other or do whatever with it. However, we have to pay the bills, buy food, pay gas, and the Internet bill and none of these idiots want to accept our beans. All these idiots (except us 30) like to play with some idiotic form of currency called CBDC.
Your arguments please...
Good points.
I'd argue that I can request my employer pay me in bitcoin. he saves payroll taxes, UI insurance, etc. It saves him money.
I get paid in bitcoin.
With bitcoin I can transact with other people who utilize bitcoin.
But you are right. It is doubtful the electric company or water company or cellphone company or internet company is going to accept my bitcoin.
My argument for that is to go off grid as much as possible.
Also, I can transact in both currencies. I can slowly try to transition more and more of my life to bitcoin. It doesn't have to be all at once.
That was over 100 years ago, and 50 years ago the last fractions of the gold where removed. All that's left now is debt and retards with severe Stockholm syndrome defending that flawed system at all cost.
The real money is Gold and Bitcoin, they both can and should coexist in this modern day world where we need both digital and physical money.
I was very suspicious of bitcoin and missed the early years.
I still own none. But I like the entire theory behind it and believe something like this very well may be the better alternative to central banking systems hustling fiat controlled by pedophile jew cartels.
Also Gold and silver historically hold value. Maybe for reasons we don't quite understand. Why did our ancient civilizations choose gold as the thing of value? What did they know about it that we don't?
It's pretty simple, value comes from a set of properties: scarcity, durability, frangibility and acceptability.
Now the interesting thing to notice here, is that Bitcoin has the exact same properties, but it also has additional properties, like:
Ironically when thinking about it, take the consumerism for instance, we consume a lot of crap because our fake fiat currency is literally burning in our pockets. If your money had value tho and where increasing in value over time you'd be more prone to saving, and only purchase stuff you need. This helps prevent over consumerism and moves away from the modern centralized industrial society altogether while bringing us all back closer to the nature, with freedom and decentralization. But of course with modern technology. Seems like some kind of utopia to me if successfully implemented.
Excellent comment. Well stated.
There may be advantages / disadvantages I'm overlooking though. What are some of the top criticisms of bitcoin that may hold some merit?
The lone fact that it is digital, and not something physical, is alone a barrier to many people accepting it. To them, money was always something they held in their hands. However, these same people would likely accept a government digital currency if it were shoved down their throats. And most of the USD in circulation today only exists digitally.
Used to is the keyword here.
It will not get banned. The network cannot be banned.
The conversion to fiat will get banned globally.
Do you think TPTB will allow a viable alternative to CBDC?
Thanks
Can still meetup in person and do p2p transactions
Sure.
So what do you do with bitcoin if you cannot use it to exchange to fiat or CBDC?
Do you understand the problem?
It is not the exchange (centralised or decentralised).
It is what do you do with it?
You barter obviously, just like in the old days when Gold was the most common medium of exchange. Bartering is tax free, sure it takes a little more time as you have to discuss the price of everything which takes time, but then ask yourself why did we have so much time back in the old days, but not anymore. Despite all the technological innovations supposedly designed to save us time.
Crypto can be exchanged for goods and services?
That, too, is decentralized.
I believe anyone can run nodes on their own networks.
I think the Start9 Embassy is capable of running a bunch of these nodes, lightning network, etc.
I feel people are hypnotised by cryptochADS.
I never said the Internet will go down or the networks will be banned, shut down or destroyed.
I never said that the exchanges be centralised or decentralised will cease to exist.
I never said that peer to peer swap of these digital assets will be banned.
I never said that fiat or CBDC is good and prefereable.
All I said is that there will be NOWHERE where the swap of these digital assets to fiat or CBDB will be permitted.
NOWHERE!
Your arguments please.
It is weird that no one addressed your actual argument.
I think official exchanges aren't that important as long as cash is still being used. Same way gold would hold value even if it could only be exchanged between individuals for cash. Not that i think crypto would hold value as well, but you see my point.
If cash is banned and it's all pre-approved transactions with digital fiat then you're probably right. Not enough people are already into crypto for it to be used as a replacement for fiat.
Only way that's wrong is if people are willing to barter for bitcoin
Thank you. You can see the conundrums.
So let us examine what you said and try predicting what is likely to happen.
Bitcoin (or gold) and cash/fiat/ government issued currency are intimately connected.
Even though I appreciate BTC's lofty intentions (if we assume it was not a CIA psyop to lure the plebs into digital currencies) the fact of the matter is that unless you have a community that will be able to provide all essential to survival services (rent, buying land and therefore shelter, electricty, water, food etc basically mazlov's pyramid) by exchanging BTC then all TPTB need to do is ban the conversion to CBDC or fiat (electronic money as it is now called in regulatory terms).
bartering may only happen to a self sufficiient autonomous community or zone.
But if someone reaches that sort of sufficiency development why even use bitcoin? Why not use orange peeps? is it because there are unlimited orange peeps? well orange peeps can only be produced with proof of work and there are limited orange trees within your limited autonomous zone. So...
It is rather simple.
Yep, I don't disagree. I was pretty much talking about the best case scenario. Crypto would just be a middleman in bartering, at that point it's easier to barter directly with no currency involved. The one exception might be when the transaction is meant to be secretive. But you'd still need more people using crypto than there are
You have the BRIC and other countries coming on a system that cuts out the dollar. Are they going to just switch BRIC into digital. As mentioned earlier if our money was worth something we wouldnt spend it. Like any product if it doesnt offer value like the CBDC then no one will use it. What do we really need money for to pay corporations to create electricity, taxes. Having no fiat or money would be a good thing. We have never in our lifetime experienced a world without the slave of money. How about we all just become servants to one another? Flood your townhall tell them to post jobs for inventors/businesses to come to your city and build free energy or generators or something productive for your city using current research not 1920’s research. I dont care what it is. The town can probably get by with using the CBDC to get the resources. Everyone in the community finds a job in the community helps build it. City provides food, electric, waste management from the community of people willing to be of service. Not saying you have to be the trash man everyday, but if a sewer is clogged in my hood im gonna go and fix it. Dont need to pay me for it. Everyone does something like this then money can slowly be weaned off. Less hours of work for your community and more time to do what you want. The infrastructure is there we just have to maintain it. Institutions have failed us. Get involved with city meetings. Dont know to many people that even attend them to monitor what your town is up to. Probably putting up those harmful wifi lights, or unaware of the biohazardous flouride in the water.
They are alreafy using CBDC in China LOL
Didnt know that. Thanks.
DISCLAIMER: I hold 25% of my entire funds in digital assets such as BTC, ETH and other shit coins !
So, I am not against them. I just realise that I've been played. Again!
Please give me some hopium with a solid argument and I can send you some LUNC
You must be new to crypto. Here's some hopium for ya: https://scored.co/c/Crypto/p/16ZX3Ot5jE/bitcoin-is-dead/c, the infamous logarithmic chart of Bitcoins exchange rate which ever since the beginning has been nearly 100% accurate.
Notice how we're at the bottom now, with only a year or two before the next bull run, where we may se exchange rates up to $500k per BTC. Then of course, in a few years with today's inflation, maybe $500k won't be worth much, maybe we'll see $1M per BTC, who knows.
hmmm... worth 6 GORILLION FIATJEWCOINS
much value!
once they make every proletariat a lumpenproletariat with their 4th ind rev, your 6 gorillion shitcoins are going to be digital toilet paper
go plant food
This is what I am trying to say...
Oh jesuz alright...
No LUNC for you so sorry
Time-machine fans: What if you could have gone back to the 1600s and deployed "the internet" during the Tulip Craze?
So, we must keep the BTC frenzy going until we get out safe!
Two more weeks please
"Bitcoin is about to die"
Said for like the 100,000th time.
And you know it only takes one time to die, right?
After a certain point, don't you think repeated predictions that don't come true should be treated with a healthy dose of skepticism? Because if so, that ain't what you're doing here.
Certainly they should. However if you read the thread and not just the link there is a rationale as to why BTC will be Epsteined.
They do not want to have alternatives. I mean why should they give you alternative to the CBDC?
Just answer me this please...
You're the kinda guy who when the 1,000th mega church preacher says he figured out when the end of the world is going to be, you're right there with your KJV with a finger bookmarking Revelation thinking "this time it's gonna be different".
It's called the principle of evidence. When the people telling you bitcoin is dead have been wrong so many times before, why do you believe them now? The same people have been saying "it's dead" before, and for the same reasons, and the CBDC is not some new wrinkle like you think it is, so no, it's not different this time.
And yea, things do end...the Roman Empire, the Pound Sterling as a reserve currency, etc. etc., but that things that can't go on forever, won't, is a different issue.