Bitcoin - a decentralised digital currency

2,183 posts in this topic

6 minutes ago, Goodbye_BlueSky said:


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 :)

 

A child born today comes into the world empty-handed. So what?

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3 minutes ago, MadManEarle said:

 

A child born today comes into the world empty-handed. So what?


I have a feeling its worthless to discuss with you. You seem to be in Bitcoin religion :)

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1 minute ago, Goodbye_BlueSky said:


I have a feeling its worthless to discuss with you. You seem to be in Bitcoin religion :)

 

I am discussing a digital currency, and you are discussing governmental policy. So yes, it is probably impossible for us to have a productive discussion.

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8 minutes ago, MadManEarle said:

 

I am discussing a digital currency, and you are discussing governmental policy. So yes, it is probably impossible for us to have a productive discussion.


Currency is part of a Government or legal system. If anyone starts to print currencies and no one wants to pay taxes then we have a chaos very soon. As you said you dont want Governments and Social systems and take care of yourself, I will understand. But, who pays for all the services like roads and hospitals and schools and police etc? Anyway, I think your are right and a productive discussion isnt possible.

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49 minutes ago, Goodbye_BlueSky said:


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 :)

 

If you are talking only about BTC, 30% owns 98%.  The other 70% "only" owns 2%.   You have to consider we are still in the early stages, we are in the so call "hoarding"stage, in the past two years under 0.5% of all BTC was moved in transactions.  But it is already a good distribution.

 

I do not get your second paragraph, of course a baby will be born with nothing. You have to work to make some dough, because, you know, capitalism.

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20 minutes ago, Krieg said:

I do not get your second paragraph, of course a baby will be born with nothing. You have to work to make some dough, because, you know, capitalism.


What I meant is from 2009 till today 18.3 Million from 21 BTC - 87% of BT Wealth has already been disctributed in the current, mostly young tech affine population. There are supposedly 11 BTC billionaires,  300 with more than100 Million and 24-25K Millionares.

Any child born in 2050 has close to Zero chance to make any wealth based on BTC, other than he has a BTC rich parent. And the future generations after that will have no chances at all. A very comfortable system for the current generation :)
How does it make it better than the Fiat Currency status-quo?

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1 hour ago, Goodbye_BlueSky said:

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 :)

 

This is a very strange approach, you assume that cryptos will not circulate and change hands.  Because you know, you work and they pay you, then you buy whatever you want with that.  If no one buys cryptos the price goes down, I assumed that was pretty obvious, but it seems it is not.

 

And anyway, if you are scared because BTC is "scarce', then try one of the many other cryptos that are not scarce, you can theoretically never run out of new coins.

 

 

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6 minutes ago, Krieg said:

 

This is a very strange approach, you assume that cryptos will not circulate and change hands.  Because you know, you work and they pay you, then you buy whatever you want with that.  If no one buys cryptos the price goes down, I assumed that was pretty obvious, but it seems it is not.

 


No, this is a very solid argumen, donno why you dont get it. As a BTC owner, you are asking to be treated like a Lord or Count. There are only 21 Million BTC and some tech savy guys distributed among themselves the first 10 Million at the very beginning. Now they wants the whole world to work for them because they have these Goldy Goldy Bitcoins. Ofcourse the BTCs will change hand, but just like the Kings and Lords who had all the land before and others had to work for them ...

" And anyway, if you are scared because BTC is "scarce', 
I am not at all scared that BTC is scarce, I dont really care. It doesnt matther if something basically worthless is scarce :)

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1 minute ago, Goodbye_BlueSky said:


No, this is a very solid argumen, donno why you dont get it. As a BTC owner, you are asking to be treated like a Lord or Count. There are only 21 Million BTC and some tech savy guys distributed the first 10 Million at the very beginning. Now they wants the whole world to work for them because they have these Goldy Goldy Bitcoins. Ofcourse the BTCs will change hand, but just like the Kings and Lords who had all the land before and others had to work for them ...
 

 

If people get tired of such "Lords" they will stop using BTC and move to another crypto they like more.

 

No wonder why people do not get cryptos, they try to apply FIAT reasoning to them.

 

And anyway, cryptos will not replace FIAT.  It is just an alternative.  No likey, no clickey.

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19 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?

 

It really does...

 

If a country wants to regulate Bitcoin, they do not need to do it through norms involving the particularities of its technology, they can simply regulate the means to enter or exit the Bitcoin space.

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4 minutes ago, gdc said:

 

It really does...

 

If a country wants to regulate Bitcoin, they do not need to do it through norms involving the particularities of its technology, they can simply regulate the means to enter or exit the Bitcoin space.

 

The on/offramps for BTC cannot be regulated in any meaningful way. It is very easy to use a service such as localbitcoin to exchange cash for BTC without any regulation from any government at all.

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Hey anyone know on what platform  an American living in Germany can trade crypto? I was on binance after buying cryto through Coinbase and sending it there. I made a big mistake of trying to verifying myself on binance and they will close my account . Luckily I only have 2k and was just testing the waters of trading. I'm feeling more comforable and want to start taking it more seriously. My cryoto is safe and i sent most back to Coinbase, but will want to send it to another platform where i can do more trading and buying. 

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3 minutes ago, claytonidus said:

Hey anyone know on what platform  an American living in Germany can trade crypto? I was on binance after buying cryto through Coinbase and sending it there. I made a big mistake of trying to verifying myself on binance and they will close my account . Luckily I only have 2k and was just testing the waters of trading. I'm feeling more comforable and want to start taking it more seriously. My cryoto is safe and i sent most back to Coinbase, but will want to send it to another platform where i can do more trading and buying. 

 

If you are trying to fulfill the KYC with US ID, then Coinbase, Bitstamp, and Gemini should work.

If you are using a German ID, then Bitpanda, Bitstamp, and Relai should work.

If you would rather not have any KYC, then Bisq, Shapeshift, and Localbitcoin are your best bet.

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9 minutes ago, MadManEarle said:

 

The on/offramps for BTC cannot be regulated in any meaningful way. It is very easy to use a service such as localbitcoin to exchange cash for BTC without any regulation from any government at all.

 

You're quite a literal kind of guy...

 

If someone could force Switzerland into giving up the banking secrecy of its wealthy clients, I'll guess that whoever is behind those on/off ramps into and out of Bitcoin would cooperate with any government that politely asks.

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2 minutes ago, gdc said:

 

You're quite a literal kind of guy...

 

If someone could force Switzerland into giving up the banking secrecy of its wealthy clients, I'll guess that whoever is behind those on/off ramps into and out of Bitcoin would cooperate with any government that politely asks.

 

The problem I see is that most people criticizing cryptos have little idea of how it works, 

 

Assuming they could block all exchangers in the world, you still have P2P (Peer to Peer).  How does it work? I Paypal you, bank transfer you, etc, 1000 EUR and you send 1000 EUR worth of the crypto I want to my wallet.    This couldn't work you say?  It has been working like that for years already.

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14 minutes ago, MadManEarle said:

 

If you are trying to fulfill the KYC with US ID, then Coinbase, Bitstamp, and Gemini should work.

If you are using a German ID, then Bitpanda, Bitstamp, and Relai should work.

If you would rather not have any KYC, then Bisq, Shapeshift, and Localbitcoin are your best bet.

thanks I'll do more research 

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16 minutes ago, Krieg said:

 

The problem I see is that most people criticizing cryptos have little idea of how it works, 

 

Assuming they could block all exchangers in the world, you still have P2P (Peer to Peer).  How does it work? I Paypal you, bank transfer you, etc, 1000 EUR and you send 1000 EUR worth of the crypto I want to my wallet.    This couldn't work you say?  It has been working like that for years already.

No, because at some point you need to purchase or receive money from a company, which will have strict rules NOT to accept crypto transactions.

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3 minutes ago, MikeMelga said:

No, because at some point you need to purchase or receive money from a company, which will have strict rules NOT to accept crypto transactions.


Then I use FIAT for that transaction. 

 

My god, is it really that difficult to understand?

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21 hours ago, MadManEarle said:

 

A child born today comes into the world empty-handed. So what?

 

We all come into this world with nothing. Anything after that is pure profit. ;-)

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