BITCOIN

Zola.

Thrugelmir said:

Zola. said:

197

Thrugelmir said:

Over 7% fall in value today and I thought that the stock markets were having it bad. 

Only traders should care about short term fluctuations..

Thought that Bitcoin was a stable currency for the future. 

If it's not a replacement for cash what exactly is it. 

Remind me who here has ever said its been stable?

It sure does crash a lot... To higher lows.. 

Adyinvestment

There has been loads of good country game theory news this past week:-



A bill for the EU to ban proof of work was voted down

South Korea's new president wants to make the country a crypto hub

Dubai and Bahrain are getting crypto friendly and issued licences for Binance to operate

Ukraine has legalised crypto



Not too shabby for 1 weeks' worth of adoption

Scottex99

and we pamped to 40.8k haha

Malthusian

And Coinbase and Binance announced that they would comply with sanctions and block wallets belonging to Russian broskis. Bad news for sovereign citizen lorry drivers.

Yes, I know, cold wallets blah blah. It still illustrates that stopping the gubment from capriciously freezing or seizing your assets is more difficult than "can't touch muh Bitcoin".

Bear in mind that most of those subject to sanctions are arguably only guilty by association. (Not my opinion - my opinion is that if you get into bed with a crazed dictator it's your problem if he poos the bed - but it will be theirs.) Isn't anyone in the crypto community going to stick up for the right of indivduals who haven't been charged with any crime to access and move their money? Anyone? Bueller?

Scottex99

Depends on the definition of guilty by association. If Putin helped you get rich, then you should be sanctioned. If you are a Russian National who now lives in Lisbon, you don't (and never) supported any war, then it doesn't make sense that your bank account is embargoed, you can't use your credit cards and you potentially can't trade any of your crypto

lozzy1965

Scottex99 said:

Depends on the definition of guilty by association. If Putin helped you get rich, then you should be sanctioned. If you are a Russian National who now lives in Lisbon, you don't (and never) supported any war, then it doesn't make sense that your bank account is embargoed, you can't use your credit cards and you potentially can't trade any of your crypto

If you're a Russian National living abroad it does make some sense.  It's about putting pressure on the leader of a country by causing dissatisfaction and unrest in the citizens of that country.   If you are a Russian National then you are a citizen of Russia.  It makes less sense if you are dual national.
I'm not sure the sanctions go as far as preventing Russian Nationals abroad from using any of their money though.

Zola.

Malthusian said:

And Coinbase and Binance announced that they would comply with sanctions and block wallets belonging to Russian broskis. Bad news for sovereign citizen lorry drivers.

Yes, I know, cold wallets blah blah. It still illustrates that stopping the gubment from capriciously freezing or seizing your assets is more difficult than "can't touch muh Bitcoin".

Bear in mind that most of those subject to sanctions are arguably only guilty by association. (Not my opinion - my opinion is that if you get into bed with a crazed dictator it's your problem if he poos the bed - but it will be theirs.) Isn't anyone in the crypto community going to stick up for the right of indivduals who haven't been charged with any crime to access and move their money? Anyone? Bueller?

Custodial financial services allow governments to freeze accounts first, and then sort out who is guilty or innocent later. Self-custodial financial services force governments to actually charge people with a crime before they can use pressure to freeze their accounts. Significant difference. 

Zola.

https://www.youtube.com/watch?v=PvOq-ELG_XY

Prince Philip of Serbia, "Not Crypto, But Bitcoin. It's Only About Bitcoin. Bitcoin is Freedom."

phillw

Thrugelmir said:
Thought that Bitcoin was a stable currency for the future. 

If it's not a replacement for cash what exactly is it. 

It's for holding to the moon

phillw

mooneysaver said:

If you store on your PC at home, what happens if your hard-drive fails? Genuine question, I am not up to speed with 'digital wallets'.

If you only keep the key on one PC then if you lose access to it, then you lose all your money.

A paper copy is good, although if someone gains access to it then you lose all your money.

https://www.deseret.com/2021/12/10/22827963/james-howells-threw-away-hard-drives-with-bitcoin-password