Bitcoin - a decentralised digital currency

2,173 posts in this topic

2 minutes ago, Krieg said:

I would buy it second hand.  Just like you do it in Germany, you go with 20k EUR in cash, you give the money to the seller and you receive the car and the car's papers.

So everyone will buy second hand from now. And the buyer, where will he spend his bitcoins? On more second hand cars?

How can he pay for groceries with it?

I can't believe you are summarizing the whole trade into business between private persons.

 

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2 minutes ago, MikeMelga said:

So everyone will buy second hand from now. And the buyer, where will he spend his bitcoins? On more second hand cars?

How can he pay for groceries with it?

I can't believe you are summarizing the whole trade into business between private persons.

 

 

You asked a very dumb question and when you do not like the answer then come with more dumb questions.

 

The seller ACCEPTED cryptos, so he knows how to spend them.   And if not then he learned a valuable expensive lesson.

 

I buy groceries with whatever currency they accept in the supermarket.  Do you complain because they do not accept Mexican pesos in your local Lidl?  Did you convert all your EUR into Mexican pesos?  I guess no.

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3 minutes ago, Goodbye_BlueSky said:

Sorry, I think I should have used the word "Premitive, Middle Age Bartering System"

Ofcouse cash is also a Barteting system. But it is supplied by the Government. They can tax people and then use it for free medical care, free education,  building roads, policing etc etc. In Germany, as an example, every 2nd EUR is redistributed for the Social Wealfare.
Do you think all of the Bitcoin Billionares will give away 50% of their money every year for the society?
If Bitcoin and Cryptos go underground then everyone will have to take care of himself. We havve then gone back the old days of Clans.

 

I think that we have very different perceptions of what governments should do. I would be perfectly happy with everyone providing for themselves, and not having any social welfare of any kind. I am not at all happy that half of my income is taxed and given away without oversight. What you call "free" is in fact very expensive.

But Bitcoin is not a governmental structure, it is a currency. If you want to change policies, then what does that have to do with Bitcoin?

Also, nobody gives money away, regardless of Bitcoin or not, billionaire or not.

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2 minutes ago, MadManEarle said:

 

I think that we have very different perceptions of what governments should do. I would be perfectly happy with everyone providing for themselves, and not having any social welfare of any kind.


Good luck in a world of 7.9 Billion everyone providing for themself.
Hypothetically then, the 7.89 Billion is slave to the 0,0001% Bitcoin billionares. I thought we didnt like the old days of Kings and Lords and Pashas.

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6 minutes ago, MadManEarle said:

I would be perfectly happy with everyone providing for themselves, and not having any social welfare of any kind.

 

Pull the ladder up Jack.

 

What would you do with my cruelly handicapped nephew who requires 24/7 care by an entire team of medics and peripheral staff? For example...

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1 minute ago, Goodbye_BlueSky said:


Good luck in a world of 7.9 Billion everyone providing for themself.
Hypothetically then, the 7.89 Billion is slave to the 0,0001% Bitcoin billionares. I thought we didnt like the old days of Kings and Lords and Pashas.

 

Your completely ridiculous numbers have no basis, so I cannot argue around them.

 

Everyone at this very moment has the opportunity to "get rich" with Bitcoin, if it is accepted as a reserve currency. If you don't, then why should other people take care of you? But again, what does this have to do with Bitcoin itself? This is a governmental policy.

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Here is what I always wonder. Please forgive me stupidity.

 

So you have a lot of Bitcoin and want to buy a car. The dealer doesn't take Bitcoin. How do you change Bitcoin (sell it) back to cash when needed quickly?

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2 minutes ago, MadManEarle said:

...it is accepted as a reserve currency.

 

God forbid. Bitcoin is just hot air. Backed by no government. And worth nothing until you can find an idiot to sell to.

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4 hours ago, MadManEarle said:

 

Sorry, but you're not answering any of the questions I asked. I'm trying to understand your position, but you're just saying that governments are going to do "something" that will be the downfall of Bitcoin.That is impossible. How are they going to tax something that they have no control over?

 

As long as people have ways to talk to each other, Bitcoin can continue.

 

So again:

 

 

 

You're really trying to not understand...

 

The USA federal government couldn't charge and incarcerate Capone for trafficking, they could only do it through tax evasion charges...

 

See?

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2 minutes ago, gdc said:

 

You're really trying to not understand...

 

The USA federal government couldn't charge and incarcerate Capone for trafficking, they could only do it through tax evasion charges...

 

See?

 

No, that does not explain at all. That example only shows that Capone was able to erase proof of his other crimes, but not proof of tax evasion. What does that have to do with digital currencies?

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20 minutes ago, MadManEarle said:

 

Your completely ridiculous numbers have no basis, so I cannot argue around them.

Everyone at this very moment has the opportunity to "get rich" with Bitcoin.


There are 7.9 Billion people in this world currently. Nothing  ridiculous  about that, just open a google page. Now, from the current  18.3 million Bitcoins, how many are Whales and how many Bitcoin Billionares are there ? You are the Bitcoin expert, tell us and make the mathe as % of 7.9 Billion for us, please. 

By the way, what do you tell a child born to parents owning no bitcoins in the year 2040? That he is not an aristocrat born to a Bitcoin Billionare family, shit happens and now he must serve the Bitcoin Blue Bloods ?  

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1 minute ago, Goodbye_BlueSky said:


There are 7.9 Billion people in this world currently. Nothing  ridiculous  about that, just open a google page. Now, from the current  18.3 million Bitcoins, how many are Whales and how many Bitcoin Billionares are there ? You are the Bitcoin expert, tell us and make the mathe as % of 7.9 Billion for us, please. 

By the way, what do you tell a child born to parents owning to bitcoins in the year 2040? That he is not an arostocrat born to a Bitcoin Billionare family, shit happens and now he must serve the Bitcoin Blue Bloods ?  

 

The numbers are ridiculous because you are using current distribution and claiming that it will not change for future distribution. Of course the people who understood the potential of Bitcoin soonest will get the most benefit from it. But even at this very moment, it is still more evenly distributed than any fiat currency.

 

The world will never be fair. Regardless of what kind of currency is used, there will still be rich people and poor people. Do you expect Bitcoin to change that? I do not understand your position.

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8 minutes ago, MadManEarle said:

 

No, that does not explain at all. That example only shows that Capone was able to erase proof of his other crimes, but not proof of tax evasion. What does that have to do with digital currencies?


Yes, ofcourse it explains it all.
If  Bitcoin and Cryptos are banned, then you will have to be a better and more sophisticated criminal than Al Capone ever was to  not get cought..Got it ? 

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Why do you think cryptos evil plan is to take over the whole financial system?  The idea is to provide an alternative.  I thought Free Markets was about that, freedom to open alternatives and support competition.

 

Of course countries will have their currencies.  Of course your local Lidl will continue accepting Euros.  And they might or might not accept Dogecoins in the future.

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4 minutes ago, MadManEarle said:

But even at this very moment, it is still more evenly distributed than any fiat currency.


You have any numbers?

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Just now, Goodbye_BlueSky said:


You have any numbers?


They are in the Blockchain.  Open for everyone.   You can see the balance of every wallet at any time.

 

What you do not know is if a person has multiple wallets.  But still give a lot of data and a better perspective compared to FIAT for which you have no public data.

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29 minutes ago, Krieg said:

 

You asked a very dumb question and when you do not like the answer then come with more dumb questions.

 

The seller ACCEPTED cryptos, so he knows how to spend them.   And if not then he learned a valuable expensive lesson.

 

I buy groceries with whatever currency they accept in the supermarket.  Do you complain because they do not accept Mexican pesos in your local Lidl?  Did you convert all your EUR into Mexican pesos?  I guess no.

 

It's an incredible naive position to assume that a supposedly new form of 'asset/digital money' that represents 'systemic risk' for the State, will be faced by the authorities as it deals with pickpockets from Berlin's metro system or an English teacher that only pays taxes on half of the real amount of classes she teaches...

 

You'll drive your car without a drivers license, insurance and vehicle registration? You could... A friend or your wife could the useful idiots that would have to explain how they can buy a car without the resources to do so, but the circle would eventually be so close to you that the supposedly 'unbreakable anonymity' that Bitcoin provides, would brake.

 

Cryptocurrenies regulation is coming, it's unavoidable. Which way those regulation will go? That's debatable...

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1 minute ago, gdc said:

You'll drive your car without a drivers license, insurance and vehicle registration? You could... A friend or your wife could the useful idiots that would have to explain how they can buy a car without the resources to do so, but the circle would eventually be so close to you that the supposedly 'unbreakable anonymity' that Bitcoin provides, would brake.

 

Just like I had to explain The Man from where I've got the resources for all the cars I bought with cash in my 20 years in Germany.  I see.

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5 minutes ago, Goodbye_BlueSky said:


You have any numbers?

 

The vast majority of fiat currencies is owned by the central banks, which makes it by definition, centralized. This is the M1/M2 money supplies.

There is no central authority for Bitcoin.

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14 minutes ago, MadManEarle said:

 

The vast majority of fiat currencies is owned by the central banks, which makes it by definition, centralized. This is the M1/M2 money supplies. There is no central authority for Bitcoin.


I am not a BTC expert and I dont know how to look at Blockchain to see the numbers, But my point is clear, there are currently >18 Million BTC. Is it known how many BTC Billionare are there ? How many people owns 50% of all BTCs ?

In a Hypothetical world where BTC rules the Currency market a Child born in 2050 will have nothing. This will be a real s**t   You want a system where the biggest part of the possible wealth is distributed in 10 years, and anyone coming after that goes empty handed. Very unique :)

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