titanruss Posted March 15, 2022 Report Share Posted March 15, 2022 Supdawg 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted March 17, 2022 Report Share Posted March 17, 2022 On 3/15/2022 at 1:44 AM, titanruss said: When people think of decentralization in terms of crypto most of the time their minds go to the philosophical applications of the word. E.g. Gov control vs individual freedom. They don't necessarily go for the practical application of that term. Bitcoin can operate on sea, land, and in the air. And it does so in a decentralized way. So yeah... that expensive, cumbersome, immobile, and sitting duck banking infrastructure? It doesn't have to be what a country relies on to keep itself functional. titanruss 1 Link to post Share on other sites More sharing options...
pat Posted March 17, 2022 Report Share Posted March 17, 2022 2 hours ago, NashvilleNinja said: When people think of decentralization in terms of crypto most of the time their minds go to the philosophical applications of the word. E.g. Gov control vs individual freedom. They don't necessarily go for the practical application of that term. Bitcoin can operate on sea, land, and in the air. And it does so in a decentralized way. So yeah... that expensive, cumbersome, immobile, and sitting duck banking infrastructure? It doesn't have to be what a country relies on to keep itself functional. What are you talking about dude? Banks and crypto both run on servers and stolen electricity. Supdawg 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted March 17, 2022 Report Share Posted March 17, 2022 7 minutes ago, pat said: What are you talking about dude? Banks and crypto both run on servers and stolen electricity. It also runs on unicorn farts. Link to post Share on other sites More sharing options...
titanruss Posted March 17, 2022 Report Share Posted March 17, 2022 1 hour ago, pat said: What are you talking about dude? Banks and crypto both run on servers and stolen electricity. one set runs because others allow it to occur the other transactions occur because.. well... there was transactions that occurred. Link to post Share on other sites More sharing options...
OILERMAN Posted March 17, 2022 Report Share Posted March 17, 2022 None of that matters. BTC is not going to become some form of currency. All that matters is will BTC keep going up and up. We'll see Link to post Share on other sites More sharing options...
BobbyCoins Posted March 17, 2022 Report Share Posted March 17, 2022 (edited) 10 hours ago, OILERMAN said: None of that matters. BTC is not going to become some form of currency. All that matters is will BTC keep going up and up. We'll see It already is a currency. But using it as a currency right now is pointless because it is still in price discovery and will be for a while. It's also got more development to be had. BTC's value will go up as more and more people (individuals, retail, institutions, gov. etc) adopt it. Just like every other currency in the history of mankind. Again, money is nothing but belief. People believe something has value to them or they don't. Whenever someone puts money into Bitcoin it's because they believe that it is a good thing, even if they don't really understand how it works. You don't have to like Bitcoin or understand how it works. Lots of people hate(d) using quarters, dimes, nickels, and pennies because of how tedious they are to carry and count but they use(d) them because they are/were the money they had available. Many people don't even carry paper money anymore because it's just inconvenient and relatively unnecessary given the existence of debit/credit cards and money payment systems like Cash App and Paypal. It's just easier to whip out the plastic. There will be many people who will never give a shit about Bitcoin either way and will just see it the way they see dollars... just a way to buy shit. They may even dislike using it, but if it's the adopted form of money and it's what companies pay their employees with, what retail stores accept, etc. they will use it whether they like it or not. Just like dollars now. Edited March 17, 2022 by NashvilleNinja Supdawg 1 Link to post Share on other sites More sharing options...
titanruss Posted March 17, 2022 Report Share Posted March 17, 2022 10 hours ago, OILERMAN said: None of that matters. BTC is not going to become some form of currency. All that matters is will BTC keep going up and up. We'll see It already is a form of currency...but if you are talking about on a global everyone using it for trade scale.. who knows. I can kinda agree with you. But I wonder what could be is a BTC backed digital currency like a gold back dollar that actually held up against inflation.. till it went off the standard. Until fractional reserving and debasing your own currency becomes a crime that is actually punished - nothing will really change no matter what currency is used. Sure, it can be a boon in the short term but it always fails and pushes debt onto our children. Link to post Share on other sites More sharing options...
OILERMAN Posted March 17, 2022 Report Share Posted March 17, 2022 4 hours ago, titanruss said: It already is a form of currency... No it's not Link to post Share on other sites More sharing options...
titanruss Posted March 18, 2022 Report Share Posted March 18, 2022 5 hours ago, OILERMAN said: No it's not I guess we'd need to define that word then. Link to post Share on other sites More sharing options...
OILERMAN Posted March 18, 2022 Report Share Posted March 18, 2022 Almost no one accepts bitcoin as payment and if they do it converts them to dollars first. I never see anyone using BTC as payment Why would you anyway? BTC is going up to 100k-1 mill per coin supposedly Jamalisms 1 Link to post Share on other sites More sharing options...
Supdawg Posted March 18, 2022 Report Share Posted March 18, 2022 2 hours ago, OILERMAN said: Almost no one accepts bitcoin as payment and if they do it converts them to dollars first. I never see anyone using BTC as payment Why would you anyway? BTC is going up to 100k-1 mill per coin supposedly I would be fine using BTC as a currency as long as it was a conversion of my fiat I already use for monthly bills. Example would be paying my mortgage each month - I would be fine for me to convert my fiat to BTC and send BTC for my mortgage payment. I would never take my "savings" BTC and spend it because it's my "savings", not because I am fundamentally against using it as a currency. I will say that there are some bills being introduced in the senate that will exempt property taxes from BTC used as a currency for totals less than 600$. And of course any nation that deems BTC as legal tender does not have to pay taxes on it because well, it's not property if it's legal tender. Link to post Share on other sites More sharing options...
BobbyCoins Posted March 18, 2022 Report Share Posted March 18, 2022 1 hour ago, Supdawg said: And of course any nation that deems BTC as legal tender does not have to pay taxes on it because well, it's not property if it's legal tender. Another reason people don't use it as currency. Why buy coffee with it if you're going to be taxed like you sold a fucking house? People criticize Bitcoin for external shit that really has little to nothing to actually do with Bitcoin itself. titanruss 1 Link to post Share on other sites More sharing options...
OILERMAN Posted March 19, 2022 Report Share Posted March 19, 2022 On 3/18/2022 at 12:40 AM, titanruss said: I guess we'd need to define that word then. Both bitcoin and ether, the cryptocurrency of the Ethereum network, are widely considered to be commodities by authorities at the Commodity Futures Trading Commission and the Securities and Exchanges Commission. Link to post Share on other sites More sharing options...
OILERMAN Posted March 19, 2022 Report Share Posted March 19, 2022 22 hours ago, Supdawg said: I would be fine using BTC as a currency as long as it was a conversion of my fiat I already use for monthly bills. Example would be paying my mortgage each month - I would be fine for me to convert my fiat to BTC and send BTC for my mortgage payment. You more than anyone in this thread have been screaming it's going to 100k a coin then to 1 mill. If you really believe that you'd be a fool to use it in this manner IsntLifeFunny 1 Link to post Share on other sites More sharing options...
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