Thread 512350964

reply to this post or poop

>>512350964 (OP)
worldwide payment method with ironclad security that no one needs to supervise
bitcoin is going to $100m

Monero is the final solution to the taxman question.

>>512350964 (OP)
what's the best way to tenderize chicken?

>>512350964 (OP)
Haven't followed bitcoin in years. I remember people complained high transaction fees hence bitcoin cash split, what became of it? Also how many terabyte hard drive do you need nowadays to setup a wallet?

>>512352393
>bitcoin cash split, what became of it?
faded to obscurity

>Also how many terabyte hard drive do you need nowadays to setup a wallet?
light wallet doesn't need storage.

You probably won't be transacting with Bitcoin as everyday usage because of the transaction times, but it can be used as a settlement layer between banks.

>>512350964 (OP)
Its useless to pay with. Its just for speculations thats all.

I signed up to an exchange once to buy and sell some crypto and ever since, Indian scammers add me to shady Whatsapp groups and I get fraudulent calls.

Don't fall for this scam.

>>512353028
Banks like Wells Fargo and Fidelity let you trade crypto. Or atleast I recall someone buying BTC in person from Wells Fargo.

>>512350964 (OP)
All I care about is if it goes up in price so I can make more money

Web3 tokens for globohomo.
Monero for anti-globohomo
Its as simple as that

>>512353242
>>512352175
its been 10 years and you cant pump your shitcoin beyond $5B marketcap just give up

>>512353312
I remember when yall were saying that but just 1B......

What about pic related? Is it going to be made the world reserve currency?

>>512353242
wait until you try sell some
t. guy going through enhanced due diligence with KUcoin atm

>>512353418
ya when BTC was 6k fuckin loser

>>512353578
I'm not even invested. Just from a privacy aspect. For example Ukraine already operates huge bitcoin mines using excess nuclear energy.

>>512353815
>ukraine
Kek. It was actually signed to law in 2022 to use miners. But its just a corrupt shithole

>>512354009
>2022
2020*

>>512352877
it's not.
its strength is in its cryptography. if you can make a powerful enough machine you can mine coins.
>what does that mean?
you need the tech/know-how and you need good electricity infrastructure (where you could make even worse architecture work, by volume) which is where the real race happens.

compared to unmovable gold (gold weighs 20 times what water weighs. so 1 liter of solid gold, weighs 20 kilos).
you also cannot leave gold behind because you cannot replicate it unlike miners from blueprints.

crypto operates a worldwide payment network; gold just sits around like a dumb whore.
just because it's an emerging market and still speculative, doesn't mean much.

>>512355890
>this instant comparison to gold

>>512355943
he called it worthless and speculative. both of these two assets' specific commonality is store of value (while also being deployed in industries).

as for speculation, anything really is. seeding soil is speculative hence why we use pesticide to remove as much chance of failure of a bad crop as possible.

feel free to compare it to whatever you want and weigh its usefulness

>>512353418
>Monero is the final solution to the taxman question.
They said it about BTC and now they all changed their mind after years of demoralisation attempts, lies, well poisoning and vitriolic and invidious attack against the technology, our ideas and decades of collective work and effort.

They are pure scum and everything they stand for is shit, they are shit and spend no amount of time defending yourself to these pieces of shit.

>>512356255
You could realistically see bitcoin used to buy and sell WoW gold in 2009, or buy Steam games before 2017.
Bitcoin was used more for payments in the past than it is now because people realized it's better to hold than to spend a deflationary asset. It's losing adoption for payments and becoming more of an investment asset ir settlement layer between banks, which contradicts it's original purpose.
With price fluctuations and high valuations, the network fees made it infeasible to process refunds. Then after KYC, it lost a lot of use as a grey/black market currency. Then with capital gains taxes, it's too much of a burden to everyday transaction processing.

>>512356577
Also bitcoin funds being rejected because of funds tangentially intermixed with blacklisted addresses undermines it's fungibility. (part of the regulations exchanges and banks need to comply)

BTC also failed to serve any meaningful purpose in helping the Canadian trucker protest when the government froze bank accounts during COVID.

>>512356802
>BTC also failed to serve any meaningful purpose in helping the Canadian trucker protest when the government froze bank accounts during COVID.
Other cases of bitcoin failing to circumvent financial censorship (other than the entirety of COVID for unvaccinated people): Coinbase banning Wikileaks and Milo Yiannopoulos.

So in a lot of aspects, bitcoin has been adopted by financial institutions. That itself means it is no longer an alternative store of wealth to the central banking system. It never created or sustained the grey market that enables censored people to sustain themselvss. But it is a way to follow institutional money and get rich.

>>512356802
>BTC also failed to serve any meaningful purpose in helping the Canadian trucker protest when the government froze bank accounts during COVID.
your type of hypothesis and any similar ones make no sense because it assumes you are a one man island.
these truckers were under Canadian jurisdiction. ain't no such thing as sovereign citizen.

it was always a pipe dream that it somehow was a silver bullet. you will always be under some type of jurisdiction unless you somehow magically can create a miner, the infrastructure for it and the military to defend yourself and then you'd still need to be allowed to partake in whatever bartering there exists.
(see the world trying to exclude Russia from trade now).

what that trucker or truckers could've done is: receive the crypto donations; liquidate their Canadian assets and leave that shithole. you couldn't do that with gold or anything really physical.
bitcoin or crypto allows you travel with your asset on you with your password.

>>512356577
>Then after KYC, it lost a lot of use as a grey/black market currency. Then with capital gains taxes
you can still do lightning (which will mix it), pool it or picrel (picrel is from >512358881 (fucking shit)).
but yes, the chance of your coins somehow being rejected or stolen without goods delivered is a possibility. but in any type of trade you need some type of enforcement or well... trust.
at the latest when you meet the person to exchange crypto, you lose a good chunk of anonymity anyway.

i don't see crypto as some alien tech that allows some form of supremacy. you're still bound by societal limitations and what one man alone can do.

what it does allow is create a network of settlement based on a technical arms race rather than a militaristic one.
if the world ends up deciding to trade/settle in crypto then the nation with the better tech will dictate norms because it will outmine the other one. and yes it can always escalate into savagery but it's unlikely that a poorer tech country somehow outshines the other nation in militaristic tech if they can't handle algorithms.

and yes, you/ that nation can always hard or soft fork which makes these debates kind of pointless. it's a method of settlement that doesn't need supervision and the security of its transactions is intrinsic.

>>512356577
I used bitcoin to order drugs. That was its biggest market. Most likely glowie ops.

>>512358881
>your type of hypothesis and any similar ones make no sense because it assumes you are a one man island.
That's not the hypothesis. An economy separate from central banking, because of problems you see with funding WikiLeaks, the trucker protest, Visa and Mastercard bullying Steam, was a goal of Bitcoin but it failed.
Every thread about Steam and Visa has an anon asking "why not crypto" and the explaination goes back to everything I mentioned.

>what that trucker or truckers could've done is: receive the crypto donations; liquidate their Canadian assets and leave that shithole.
Missing the point and you clearly don't know what happened.

>>512359617
Didn't Silk Road get busted anyway?
Black market uses monero instead now anyway.

>>512359449
>it's a method of settlement that doesn't need supervision and the security of its transactions is intrinsic.
that's why anon says its useless. he's not a country or a bank.

>>512359833
>the security of its transactions is intrinsic.

>meanwhile bitcoin mining is increasingly consolidated to a few miners

>>512359699
Yeah, i figured monero would be used now due to privacy. Original silk road was busted. I think i still had like 0.1 something btc on that site, lol. Was a lot cheaper then. And even then i remember how annyoing it was to buy anonymously

>>512359645
>Every thread about Steam and Visa has an anon asking "why not crypto" and the explaination goes back to everything I mentioned.
no it doesn't fail. Visa/Mastercard itself aka Americard was severely limited at its start in the 60's, where floor managers had to call banks to raise limits and customers were asked to write cheques or settle in cash at checkout, then it morphed into leaving card details behind and so on. all based on trust, again.

all trading is based on trust, Visa and its processing volume couldn't exist without that. what i'm trying to convey is, crypto has that trust built-in.
you do not need to trust Visa for them to process their numbers, hence payments, correctly anymore. with crypto it happens automatically.

>>512359645
>Missing the point and you clearly don't know what happened.
ok bud
they basically went hogwild and not any better than the blue haired psychos gluing themselves to the pavement.
that's why you fucktard US have the 2A because if words don't suffice, they knew a path of escalation must exist.

>>512359833
>that's why anon says its useless. he's not a country or a bank.
ok whatever

>>512360021
sure

have fun in your sovereign citizen utopia and don't forget to take your meds

>>512352175
Monero is the answer.

>>512359645
>>512360465
>if words don't suffice, they knew a path of escalation must exist.
by that I mean: if the words of the truckers didn't suffice to explain to their gov/ the opposite party/ the incumbent, they are not interested in wearing masks or ceasing business, then abdication with the help of stockpiled weapons should be an option

>>512360465
>no it doesn't fail.
That paragraph clearly has nothing to do with financial censorship.

>>512361693
because you're fixated on some type of utopia where you think crypto should facilitate you some type of anonymous payment in some type of underground world where nobody knows you exist and your goods are ethereal
>btc's lightning network allows in part payments off-chain

this is what i wrote at the top
>worldwide payment method with ironclad security that no one needs to supervise
that trust in crypto/btc is intrinsic aka built-in. it doesn't matter who you are, if i process a certain amount into your wallet, it's yours i.e. i cannot take it away from you anymore unless you allow it (yes, i know exploits and so on) but that's the concept of crypto in gist

i meant to do a write-up in /v/ on skins, NFTs and how a government could control gaming companies and skins through crypto
take my trip in case i ever do

>>512350964 (OP)
USA has almost made it legal tender now. The millionaires have just started getting in. It will be exciting when the billionaires start getting in.

>>512362148
You clearly aren't reading my posts well when multiple times I mentioned crypto originally intended as an alternative to central banking for the problems of financial censorship.

>worldwide payment method with ironclad security that no one needs to supervise
Cryptocurrencies operate on a consensus algorithm all of which have weaknesses like a 51% attack for bitcoin, which is why 95% of the hashing done by only the top 10 of miners is a concern.

But as you mentioned Bitcoin as a settlement layer, it's clear that bitcoin is no longer a peer to peer decentralized currency operating alternatively to the central banking system. Rather, it's a new settlement layer for governments and banks.

So you want to invest in a settlement layer for banks. Cool.

writing

>>512350964 (OP)
tender

>>512352175
You don't need to hold Monero, you simply need to transit through it. It is useful, but it has a different destiny then bitcoin.

Just pump PEPE to .01 and watch bitcoin fall!!!!

>>512362628
fuck it. doesn't matter.
>will be listening to disney call
good luck

>which have weaknesses like a 51% attack for bitcoin
yes and the nodes can fork and reject the attacking miners.
(above with exploit i meant wallet exploits, not network exploits)
one miner still needs to sell or pay with that coin. he can't be mining for himself.

>which is why 95% of the hashing done by only the top 10 of miners is a concern.
no, it's not. won't even matter if it'll be 2 miners. (or 1 miner because he still has to sell it to 99% of people or keep the transactions running if your physical labor done on the fields were to be settled in bitcoins) but since there's always going to be an incentive to mine coins, you will at least have two.