Gawdlee

You’re not directly responding to the post Charlie. Explain this picture, please.

- Which hard currencies? Last I checked, every currency on earth is being debased to some degree.

- With BTC we can create escrow wallets that allow loans that are impossible to default on because if it’s not repaid, the money in escrow is dispersed to the loaner. $ cant do that.

They hold their value??!!

@charliemas.bsky.social very interested in your reply to this ^.

People in countries experiencing hyperinflation also value it.

It also makes remittances cheaper and faster than using services like MoneyGram or Western Union which take half of the money they send.

Bitcoin wallets (“Bank accounts”) are free

Bank holidays do get inconvenient sometimes don’t you agree?

The price is volatile because its 1. Still widely misunderstood and 2. Still being adopted by people globally. Its still relatively new i mean its not even 20 years old yet.

You can self custody cash, but its nowhere near as secure. Imagine having fort knox level security at all times.

Saying its not currency is only saying that its not widely approved by governments that have already decided on their official currencies. That doesn’t mean its not MONEY or that it can’t be used as MONEY. Im sure you’re aware that people are in fact paying for things with it.

People living in authoritarian regimes that get debanked do.

Bitcoiners believe that the current debt-based inflationary dollar system is unsustainable (which it is), & that a peer to peer system that cant be printed into infinity or at all is better and that that will be proven over time. Its not about upending capitalism. Just fixing the most insidious part

When it comes to Crypto, more specifically Bitcoin, people of all walks of life value a money that cant be controlled or debased by a central authority. They value the ability to self custody their money with ironclad security. They value lower fees. They value 24/7 access. This utility is valuable.

When we speak of value, we’re speaking of how much someone wants or needs something. If they want/need it a lot, they place a high value on it. If they dont want/need it then they place little to no value on it. The price one is willing to pay for something is based on how much they value it.

Bitcoin is the worst thing to use to try and launder money. It’s literally a publicly auditable ledger. Not to mention there are firms that specialize in on-chain analysis that are bloodhounds for illicit activity.

Inherent value doesnt exist in the realm of economics. Value is subjective. People will pay wtvr price they can for something they value, even if you dont find value in said thing. I wonder where this misconception of inherent value comes from.🤔

The answer is decentralized platforms that NO ONE owns or controls. Any/all centralized authorities can censor and influence the platform they own.

never really been interested in the objects of people’s ire

Why not both?

Getting blocked is such a rush. I understand trolls now lol

See I’m not interested in on paper. I look at real world outcomes, and in the real world humans operate within human nature. Those in the position of controlling monetary policy abuse, and misuse it to the detriment of the broader population. Enter inflation. Bitcoin is the only viable answer rn.

ETP’s are large pools of Bitcoin, but that doesn’t give them control over the network or allow them to change the rules that have held strong for almost 2 decades now. It’s also a global network so its not like they can or will have most or ALL of the bitcoin. There’s be an issue if Bitcoin was POS.

Being able to reverse a transaction isn’t that big a deal. It incentivizes people to be more careful about when, how, and with who they spend their money which is a net positive in my book.

it would be silly for me to say that there’s no fraud in the Bitcoin ecosystem whatsoever, but it would be equally if not more silly to not say the same for the heavily regulated traditional system. The open nature of the ledger likely makes it ‘harder’ to commit fraud.

Bitcoin itself doesnt need to be regulated, especially since pretty much everything else surrounding the use of it is (ie. exchanges, custody, payments, mining, taxes).

Many utilize stranded energy sources that are otherwise underutilized, abandoned, or inconvenient for transport. There are even some companies using electricity generated from methane gas in landfills! Converting a major greenhouse gas into money doesn’t sound like an environmental win to you?

How much of a nightmare is POW when it doesnt rely solely on fossil fuels. Miners are looking for the cheapest energy they can find to be as competitive as they can in the industry. Many use, or are in the process of transitioning to, renewable energy.

Yeah, we can, but the question is SHOULD we keep doing it the way we have? Or should we come up with alternatives that address the overwhelming negatives of the traditional system?

It doesn’t “pretend to offer zero trust” it removes the need to trust middlemen by replacing them with code, math, & consensus. The protocol is trusted, but not a central authority. And its block chain is an easily auditable open ledger, wheres the obfuscated currency manipulation happening?

Bitcoin’s energy use isn’t for moving the money, it’s what secures the network against hacks & fraud within the system. Transactions are just data transfers. They use negligible amounts of energy like sending an email.

And yes if you see no value in peer to peer payments, a hard coded fixed supply, or the ability to self custody your funds with essentially military grade security, it can even keep you warm in the winter.

Its movements might be stock market-esque right now but that’s not damning to me considering how early in its adoption it is & times where it completely diverged from stocks. Honestly I think the movements are more related to investor behaviors and/or understanding than the nature of the asset.

Is using energy inherently a bad thing though? The current banking system uses much more energy than bitcoin & youve likely never even thought about it.