Bitcoin....who's gotten into it?

[stalefish3169]

I like the doom and gloom future outlooks. Dystopia on deck! Start loading up on gold, silver, guns, MREs and crypto, eh?
Accountability of fiduciaries matter. Customer protections matter. Sanctions matter. Taxation matters (that's not fun, but it does!)
While crypto may work in the libertarian utopia of the mind, in the real world, there are interests that elected officials are incentivized to protect. I'd argue many are valid. YMMV

Oh elected officials you say? GOP has won the popular vote only once in the past 30 years but got to pick 5 of the 8 new SCOTUS justices that will be on the bench for decades.

All those things you listed matter and as long as they are working in your favor, you're happy. What happens when they're not?

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[MultiVerse]

Crypto-utopianism is doomed to fail just like all other utopias. That doesn't mean blockchain will fail as a technology. It only means one has nothing to do with the other. Laser eyed charlatans alternating between promoting crypto-fascism and crypto-leftism are much worse than even the nocoiner crowd.

[hatchgreenchile]

All those things you listed matter and as long as they are working in your favor, you're happy. What happens when they're not?

When FDIC and SIPC are suspended, our banks freeze access & loot the balances, and the government pillages any leftovers, I'll let you know.

[stalefish3169]

Paranoid libertarians, from what I can gather…

Check your financial privilege at the door. You're free until suddenly you're not.

"The present threat to democracy is the product of 16 consecutive years of decline in global freedom. A total of 60 countries suffered declines over the past year, while only 25 improved. As of today, some 38 percent of the global population live in Not Free countries, the highest proportion since 1997. Only about 20 percent now live in Free countries."

https://freedomhouse.org/report/free...oritarian-rule

[dunfree]

Check your financial privilege at the door. You're free until suddenly you're not.

"The present threat to democracy is the product of 16 consecutive years of decline in global freedom. A total of 60 countries suffered declines over the past year, while only 25 improved. As of today, some 38 percent of the global population live in Not Free countries, the highest proportion since 1997. Only about 20 percent now live in Free countries."

https://freedomhouse.org/report/free...oritarian-rule

bitcoin and crypto are all about financial privilege, and suck for actual poors

[J. Barron DeJong]

Check your financial privilege at the door. You're free until suddenly you're not.

"The present threat to democracy is the product of 16 consecutive years of decline in global freedom. A total of 60 countries suffered declines over the past year, while only 25 improved. As of today, some 38 percent of the global population live in Not Free countries, the highest proportion since 1997. Only about 20 percent now live in Free countries."

https://freedomhouse.org/report/free...oritarian-rule

Didn’t realize Freedom House was advocating for Bitcoin as a way to counter this democratic backsliding. I’ve been pwnd again, I guess.

[stalefish3169]

bitcoin and crypto are all about financial privilege, and suck for actual poors

Thanks, middle-aged white guy posting on a ski forum in summer.

[stalefish3169]

Didn’t realize Freedom House was advocating for Bitcoin as a way to counter this democratic backsliding. I’ve been pwnd again, I guess.

There's no simple approach for defeating authoritarianism. It's a very nuanced situation. Having the most decentralized form of money that can be stored by memorizing 12 words is a good tool in the ongoing battle. Sorry if you're too sheltered and naive to realize it.

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[J. Barron DeJong]

There's no simple approach for defeating authoritarianism. It's a very nuanced situation. Having the most decentralized form of money that can be stored by memorizing 12 words is a good tool in the ongoing battle. Sorry if you're too sheltered and naive to realize it.

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Bitcoin undermines the functioning of the economy in a democratic country. It’s creating instability, not vice versa.

[stalefish3169]

Bitcoin undermines the functioning of the economy in a democratic country. It’s creating instability, not vice versa.

Well first of all, authoritarian is != to democracy. So clearly you're missing the point. Secondly, I'd say that corrupt politicians and central bankers that can print unlimited amounts of money to give to their cronies produces quite a bit of instability! It's like pouring gasoline on a fire of inequality. But let me guess, you think everything is great because your home equity just went up 30% in the last 2 years while you did nothing to deserve it???

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[J. Barron DeJong]

Well first of all, authoritarian is != to democracy. So clearly you're missing the point. Secondly, I'd say that corrupt politicians and central bankers that can print unlimited amounts of money to give to their cronies produces quite a bit of instability! It's like pouring gasoline on a fire of inequality. But let me guess, you think everything is great because your home equity just went up 30% in the last 2 years while you did nothing to deserve it???

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No. Keep guessing!

Sorry, is your point that you, an American hoping to get rich off Bitcoin, are going to cause the downfall of authoritarian regimes around the globe by doing so?

[dunfree]

Thanks, middle-aged white guy posting on a ski forum in summer.

Next time you take a Mexican beach vacation talk to people dildo…. But that’s not what middle aged guys do usually

[MultiVerse]

lol "libertarian" arguing his morals are better than your morals weighs in on the injustice of real useful assets like housing, says people should hoard deflationary currency instead.

[JimmyCarter]

There's no simple approach for defeating authoritarianism. It's a very nuanced situation. Having the most decentralized form of money that can be stored by memorizing 12 words is a good tool in the ongoing battle. Sorry if you're too sheltered and naive to realize it.

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Those same authoritarians control the internet you need to make Bitcoin work.

[stalefish3169]

Cool. Let's recap! BTC still not dead, Blackrock got into the game, and you guys keep repeating yourselves.

I'll check back in after a few weeks.

[MultiVerse]

BlackRock's investment in USDC stablecoin is newsworthy. Because stablecoins, not bitcoin, have become the real peer-to-peer electronic currency owing to the exponential rise in global users.

[byates1]

Yeah cause BTC hasn't become a trillion dollar asset in a dozen years or anything.

[byates1]

One BTC is going to be 500 grand in 10 years. It's 20 grand now. Not a horrible roi.

[byates1]

Could be big. Could be killed off by this guy.

[frorider]

One BTC is going to be 500 grand in 10 years. It's Science

FIFY

[MultiVerse]

Yeah cause BTC hasn't become a trillion dollar asset in a dozen years or anything.

Who should anyone care about that? I mean it's great for people who bought early but a currency alone shouldn't be the main investment vehicle and it shouldn't earn a positive real return, right?

[byates1]

FIFY

Well it is math.

[byates1]

Who should anyone care about that? I mean it's great for people who bought early but a currency alone shouldn't be the main investment vehicle and it shouldn't earn a positive real return, right?

The peer to peer electric cash system was the original design. Seems to be more digital gold now I sent 5 grand BTC to a dude for a bike, effortless, free, instant, and outside the traditional syatems.

Bought 5 grand in physical gold and silver in the last month or so. I like having 10/30% of my investments outside the traditional syatems.

[J. Barron DeJong]

Could be big. Could be killed off by this guy.

Looked like Carney wasn’t having any of it.

[summit]

Yeah cause BTC hasn't become a trillion dollar asset in a dozen years or anything.

Honestly who cares? Most BTC holders are underwater.