satoshi is the cia

>>60547889 (OP)
Doesn’t matter what you think, Bitcoin is working as intended.

>>60547889 (OP)
it's refined and improved now

bitcoin has been renamed to hair-comb for years now

it's better now

Intent has no value, the only thing that matters is whether BTC can be used for some function, which it can (Systemic Unit of Account), and the value of that function (Everything).

We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.

2) Trustless intangible Store of Value: Physical goods require active force simply to maintain ownership, trust-based assets require trusted third parties to operate them. Storing abstract economic value in either enables negative sum actors to parasite as NSAs can specialize exclusively in force. With a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made prohibitively expensive to seize (multi-sig, Shamir backup) and is infinitely more resistant to seizure by default

SegWit is the only breakthrough, there is literally nothing groundbreaking after that

>>60548865
Bitcoin IS the breakthrough, before bitcoin we could not produce a trustless intangible tally board, this is a monumental leap in monetary technology.

>>60549336
>Bitcoin IS the breakthrough
That is true, but BTC is like taking steps backwards. A scaled Bitcoin like Satoshi himself talked about does everything BTC does but so much more.

>>60550344
Is this a porn?

>>60550344
>b-but it can do the useful thing AND useless shit!
Scaling for scalings sake is superfluous to its function as money, as a unit of account, the valuable thing is the information encoded within it's price. There's little friction in the conversion to or from other monies, so there's no additional information gained by using it as common currency, you'll arrive at the same real-terms price either way, as you're encoding the same information.

>>60550717
>>useless shit!

>Medium of exchange is useless shit
fuck you are retarded

>>60547889 (OP)
Only retards think we have to follow the words of Satoshi as if he was some god

Yeah, now learn about BCH.

>>60547889 (OP)
it's not, it's a failure and a ponzi.

>>60547898
You know there are other three-letter agencies that are much more obscure that probably get up to the real nefarious business.

>>60552351
>Yeah, now learn about BCH.
meanwhile BCH:

(-99% down in value since the retards split from real BTC)

>>60547889 (OP)
litecoin is the bitcoin of crypto.

>>60552232
Why would Medium of Exchange have value? There is no term risk in MoE, further, there is no net demand for MoE! It’s transactional after all, other than some liquidity requirements no one actually holds or wants fiat, the wagie may be paid in it, but only the dullest little wagies actually SAVE (and therein generate net demand) in it, for those with at least ambient temperature IQs, even when you hold “cash” you aren’t actually holding fiat, you (or the financial institution you use) are holding tbills or shares in a money market fund etc. The very fact that we can use hot garbage like fiat as MoE should have clued you into the fact the MoE is trivial, and therefore of no value.

Bitcoin does something that could not be done before bitcoin: produce a trustless perfectly inelastic supply unit, a trustless transparent intangible tally board, literally something We’ve wanted for all time. That is the breakthrough, before we did not have the means to create a true economic unit, now we do, and that unit will continue to grow as network effect is a positive feedback loop.

>>60547889 (OP)
At least it allows me to grab anything I see on dextools and use it to pay my rent for a couple of months, If I have anyone to thank for this, it's btc

>>60550717
Did you know if crude oil were included on this asset ranking list it would be the #1 market cap at 114T which is about 5x gold, 57x bitcoin, and just under TOTAL global equities?

The way that bitcoin gets to a $5million a coin monetary premium is through $10/barrel of oil. And it does this by leading the world in an energy shift to renewables and off of oil and the petrocurrency (oil/usd). In this scenario bitcoin replaces the numerator not the denominator as many people mistakenly believe. Bitcoin does not replace the unit of account, (which will remain the USD in the international market IF bitcoin is priced in US dollars) it replaces oil as the LITERAL MANIFESTATION OF DIGITAL ENERGY. There is a huge national security imperative right now for the US to be buying as much bitcoin as is possible.

Does anyone here believe that bitcoin has failed on a fundamental level? I do in some aspects

>>60547889 (OP)
Bitcoin was never going to be useful as actual currency because the whole way mining the bitcoin blockchain works is fundamentally flawed

>>60553644
This then begs the question: did Satoshi know about this flaw when he wrote the white paper? And if he did know about it, why did he take the liberty to market bitcoin as "p2p electronic cash"? My theory is that he wanted users, he wanted people mining and transacting bitcoin, instead of trying to recruit people to engage in what at the time would have been a pointless geopolitical finite resource struggle. This also might explain why he created bitcoin under a pseudonym, so that he might have the right to do that.

>>60553644
The deflation is the thing which stops BTC from having utility as actual money. When a currency is experiencing deflation people won't spend it because they think it's going to buy more tomorrow, or in a year's time, than it does today. This is why central banks target 2% inflation rather than 0%, a little bit of inflation is needed to keep the economy moving along.

Once bitcoin started being adopted, while simultaneously becoming harder to mine, the price started to creep up. People realised pretty quickly that it made a lot more sense to hodl than to transact with it, and the nascent use of bitcoin as currency stopped, replaced with its true utility as an asset class. Stablecoins are the crypto which are actually useful as currency, which we can see is happening right now.

>>60552872
You sure talk with a lot of confidence for someone so clueless.

Medium of exchange is priceless. Hence Visa, Mastercard etc are such valueable businesses as they facilitate that exchange.

Besides, I am not even arguing away your points, I'm saying you settle to use a spaceship as a rainshelter instead of as what it should be - a spaceship.

>>60553644
>because the whole way mining the bitcoin blockchain works is fundamentally flawed
Flawed? What are you talking about lol. Another wishy washy comment without substance I think your brain is flawed kek

>>60553739
>When a currency is experiencing deflation people won't spend it
People spend when they need to or want to. Most don't understand inflation or deflation enough to even consider it in their spending habits.