• 0 Posts
  • 17 Comments
Joined 1 year ago
cake
Cake day: June 5th, 2023

help-circle




  • Because banning things only makes them more powerful… If a country bans bitcoin, then it’s putting all of it’s citizens at a global disadvantage vs other countries. There is no practical way to enforce a ban of bitcoin. You can run a node over TOR.

    It’s the same concept of banning AI. Sure, a few people would stop, but the rest of the world will continue development.


  • This is the wild west of innovation. Scammers like money, so of course they will be attracted to cyrptocurrency. They are also very attracted to fiat currency.

    All of the references on that page have to do with random NFT projects and shitcoins.

    You should try to separate the concept of “Crypto” from the concept of base layer blockchain protocols that actually have value.




  • Cryptocurrency is the most efficient money we have. It doesn’t require any middle man bankers. Sure, hackers can hack and loot exchanges, but right now we have the government looting us with inflation.

    The problems you mentioned are being worked on. There are ways to backup and restore your wallet that will become easy.

    The global economy doesn’t need to only rely on Bitcoin, so the argument that we have to worry about deflation is just wrong.




  • It’s backed by math. There is a fixed amount of Bitcoin. We have never had the concept of “digital scarcity” before. There are thousands of computers running independently that are following a consensus algorithm. it’s an open, permisionless, trustless system that anyone on the planet can be part of.

    You would rather have money controlled by corrupt governments? Hilarious.


  • That’s not true. Fiat money is money created and managed by a government. We need separation of State and Money.

    from The American Heritage® Dictionary of the English Language, 5th Edition.

    noun Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.
    

    from Wiktionary, Creative Commons Attribution/Share-Alike License.

    noun economics Money that is given legal value or made legal tender for money debts by government fiat.
    

    from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

    noun money that the government declares to be legal tender although it cannot be converted into standard speci