BITCOIN

lozzy1965

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

Zola.

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

Malthusian

lozzy1965 said:

I'm not sure the sanctions go as far as preventing Russian Nationals abroad from using any of their money though.

Probably not, but when the Mounties froze the accounts of a couple of hundred sov citizens who were organising riots, that somehow turned into impoverished single moms from British Columbia having their accounts frozen for sending the truckers 50 loonies (who then mysteriously disappeared), so who knows.

It's still interesting that on page 190 a few people who hadn't been charged with any crime were having their accounts frozen and this was proof that everyone needed crypto. Now billions of dollars belonging to people who haven't been charged with a crime are being frozen, private assets like football clubs are being essentially seized and nationalised, and you can hear an NFT drop. Should private citizens have the right to keep their money outside the reach of governments and the courts or not?

First they came for the truckers, and I did not speak out, because I don't blub when I get a hurty needle in my arm.

Then they came for the oligarchs, and I did not speak out, because I didn't loot the post-glasnost Soviet economy for zhillions of roubles.

Then nothing much happened. Number still no go up. The end.

lozzy1965

Zola. said:

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

OK I have read the first few screens and scanned a few more beyond that.  No.  Just no!  That is not an argument for Bitcoin unless it offers up more evidence later on.
The article is about colonialism and more advanced nations and peoples taking advantage of less advanced ones.  Bitcoin won't solve that.

EDIT:  Ponder this.  A huge number of bitcoin are in the hands of a very small number of people.  A vast number of the world population currently have no Bitcoin.  How is that going to work out?

Zola.

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

OK I have read the first few screens and scanned a few more beyond that.  No.  Just no!  That is not an argument for Bitcoin unless it offers up more evidence later on.
The article is about colonialism and more advanced nations and peoples taking advantage of less advanced ones.  Bitcoin won't solve that.

EDIT:  Ponder this.  A huge number of bitcoin are in the hands of a very small number of people.  A vast number of the world population currently have no Bitcoin.  How is that going to work out?

Early bird gets the worm - this has always been the case in all systems. 
There will always be plenty to go about, but early investors are rightly rewarded. 

Scottex99

lozzy1965 said:

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.

Yeah but that's flawed imo. I'm Scottish and live in Spain/Gib. If Nicola drives some tanks into England and starts killing English babies then sanctioning me and my banks is going to do what? I'm going to fly back to Edinburgh and join protests to get her to stop it?

Sanctioning Putin and his boss allies has to be the way. Taking it out on the regular population (who may not have lived in the country and completely oppose the regime) does nothing. Farmers in Russia are supposed to travel to Moscow and protest?

And on last point, it does. I know a few who live in Europe and are having major problems moving money in their bank accounts, including GBP and EUR in European banks. They have not supported or taken part in anything relating to Ukraine whatsoever and cant' move 10k from Santander in Madrid to Barclays in London?

Scottex99

Malthusian said:

lozzy1965 said:

I'm not sure the sanctions go as far as preventing Russian Nationals abroad from using any of their money though.

Probably not, but when the Mounties froze the accounts of a couple of hundred sov citizens who were organising riots, that somehow turned into impoverished single moms from British Columbia having their accounts frozen for sending the truckers 50 loonies (who then mysteriously disappeared), so who knows.

It's still interesting that on page 190 a few people who hadn't been charged with any crime were having their accounts frozen and this was proof that everyone needed crypto. Now billions of dollars belonging to people who haven't been charged with a crime are being frozen, private assets like football clubs are being essentially seized and nationalised, and you can hear an NFT drop. Should private citizens have the right to keep their money outside the reach of governments and the courts or not?

First they came for the truckers, and I did not speak out, because I don't blub when I get a hurty needle in my arm.

Then they came for the oligarchs, and I did not speak out, because I didn't loot the post-glasnost Soviet economy for zhillions of roubles.

Then nothing much happened. Number still no go up. The end.

Number going up. UpOnly 

lozzy1965

Zola. said:

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

OK I have read the first few screens and scanned a few more beyond that.  No.  Just no!  That is not an argument for Bitcoin unless it offers up more evidence later on.
The article is about colonialism and more advanced nations and peoples taking advantage of less advanced ones.  Bitcoin won't solve that.

EDIT:  Ponder this.  A huge number of bitcoin are in the hands of a very small number of people.  A vast number of the world population currently have no Bitcoin.  How is that going to work out?

1 - Early bird gets the worm - this has always been the case in all systems. 
2 - There will always be plenty to go about, but early investors are rightly rewarded. 

1.  Or the early tech savvy punter makes the big time because of their punt?  Perfect for a currency system that is much fairer for the world?
2.  I thought there were a limited supply?  There are a lot of people in the world!

Zola.

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

OK I have read the first few screens and scanned a few more beyond that.  No.  Just no!  That is not an argument for Bitcoin unless it offers up more evidence later on.
The article is about colonialism and more advanced nations and peoples taking advantage of less advanced ones.  Bitcoin won't solve that.

EDIT:  Ponder this.  A huge number of bitcoin are in the hands of a very small number of people.  A vast number of the world population currently have no Bitcoin.  How is that going to work out?

1 - Early bird gets the worm - this has always been the case in all systems. 
2 - There will always be plenty to go about, but early investors are rightly rewarded. 

1.  Or the early tech savvy punter makes the big time because of their punt?  Perfect for a currency system that is much fairer for the world?
2.  I thought there were a limited supply?  There are a lot of people in the world!

When Christopher Columbus discovered the US, is it fair that he and most of the other early explorers got the best land to build houses and farms on because of their punt? I think so. 

There is a fixed and limited supply, if it was evenly split there would be 0.002625 bitcoin to go around, or 262,500 "Satoshis"...
If for some crazy reason that is not enough, the unit of measurement can be split even further.. Also, like any investable asset, people will sell when they need something, like a house, car etc.  There will always be trades. 

Like stocks and other investments, there will be many in the world who will likely never have any, for one reason or another..

lozzy1965

Zola. said:

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

lozzy1965 said:

Zola. said:

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."

Very interesting, but I would like to see the flip side argument - I know I know, it has been going on for months, if not years on this thread .
Fully admitting that I do not understand the arguments, I can't believe that it is as simple as the prince (and pro crypto-ers) states.  At the risk of sounding like a naïve privileged westerner:  There are a lot of downtrodden poor people in the world in countries not as privileged as ours, but why isn't that at least in part to do with their governments and corruption in their country?
I guess I just can't see how bitcoin solves poverty! 

If you have time, read this 
https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f

OK I have read the first few screens and scanned a few more beyond that.  No.  Just no!  That is not an argument for Bitcoin unless it offers up more evidence later on.
The article is about colonialism and more advanced nations and peoples taking advantage of less advanced ones.  Bitcoin won't solve that.

EDIT:  Ponder this.  A huge number of bitcoin are in the hands of a very small number of people.  A vast number of the world population currently have no Bitcoin.  How is that going to work out?

1 - Early bird gets the worm - this has always been the case in all systems. 
2 - There will always be plenty to go about, but early investors are rightly rewarded. 

1.  Or the early tech savvy punter makes the big time because of their punt?  Perfect for a currency system that is much fairer for the world?
2.  I thought there were a limited supply?  There are a lot of people in the world!

When Christopher Columbus discovered the US, is it fair that he and most of the other early explorers got the best land to build houses and farms on because of their punt? I think so. 

There is a fixed and limited supply, if it was evenly split there would be 0.002625 bitcoin to go around, or 262,500 "Satoshis"...
If for some crazy reason that is not enough, the unit of measurement can be split even further.. Also, like any investable asset, people will sell when they need something, like a house, car etc.  There will always be trades. 

Like stocks and other investments, there will be many in the world who will likely never have any, for one reason or another..

Hmmm, sounds a little like inflation?

Bitcoin was supposed to replace money!

The trouble with Bitcoin is that every time I see a specific reason to justify it, I can't see how it solves that reason.