BITCOIN

jjmmww1

Not to do with bitcoin but managed to sell my First NFT yesterday for 27x what i paid for it and i didn't like them to star with but i guess it was a lucky buy

Scottex99

jjmmww1 said:

Not to do with bitcoin but managed to sell my First NFT yesterday for 27x what i paid for it and i didn't like them to star with but i guess it was a lucky buy

Haha nice. I keep meaning to do some research on NFTs but I can't really be bothered, think I have some art ones I paid a few ETH for somewhere. 

Collectibles within games could be pretty cool for it

Type_45

Hexane said:

Type_45 said:

Malthusian said:

They can do that now in a non-cashless society in exactly the same way as they already stop everyone from buying meth. 

According to the government's own figures, the UK has 11,000 meth users.  So the government isn't "stopping everyone from buying meth".

The government also says we have 1 million cocaine users.

So... do you believe that your proposed scheme for removing cash from the economy, will force all 1 million cocaine users to give up the habit? Or are you capable of imagining that something else might happen?

It would be a game changer, yes.

Because unless you're happy to have a permanent record on your PayPal of a £50 transaction one random Friday night with a drug dealer then how are you going to pay the dealer?

And once the police know someone is dealing illegal substances they only have to check that person's PayPal/bank accounts for a permanent ledger of clientelle.

Malthusian

Type_45 said:

Because unless you're happy to have a permanent record on your PayPal of a £50 transaction one random Friday night with a drug dealer then how are you going to pay the dealer?

Bitcoin if you're Internet savvy. (Or more likely Monero, or a similarly anonymous rival that has less interference from the get-rich-quick crowd.) Barter if not. (Is the Government going to ban ownership of Krugerrands? If the answer is yes, how about plain circular discs of gold? All precious metals of any shape?)

Bear in mind that if I'm currently a drug dealer who takes money for drugs in cash, somewhere down the line that cash has to be laundered so that it can be spent. This is often done via exchanging it for real assets in a way that conceals their source. All of this is priced in to what I have to pay the dealer. If cash is banned, all that happens is that some of the money laundering burden is shifted onto the customer.

Hexane

Type_45 said:

Hexane said:

Type_45 said:

Malthusian said:

They can do that now in a non-cashless society in exactly the same way as they already stop everyone from buying meth. 

According to the government's own figures, the UK has 11,000 meth users.  So the government isn't "stopping everyone from buying meth".

The government also says we have 1 million cocaine users.

So... do you believe that your proposed scheme for removing cash from the economy, will force all 1 million cocaine users to give up the habit? Or are you capable of imagining that something else might happen?

It would be a game changer, yes.

OK, you've persuaded me, if this change can solve huge societal ills like drug abuse so easily, then it's definitely worth doing. Sooner the better. I look forward to it.

lozzy1965

I can see my account now:

01/02/2022  Supermarket  BTC -0.0000000001573
02/02/2022  Pub                BTC -0,0000000000942
01/03/2022  Salary            BTC +0.0000000010000
04/03/2022  Drug Dealer   BTC -0.0000000010000
11/03/2022  Flowers          BTC -0.0000000002500

Scottex99

Count in sats baby

lozzy1965

Scottex99 said:

Count in sats baby

Hey, I've learnt something today!  Thanks for that!

Adyinvestment

I am starting to see some pretty big potential needle mover news coming through


Germany opening up special funds to invest in Crypto (potentially up to $415 Billion)

German Law Allowing $415B Investment Into Crypto Takes Effect | Nasdaq


650 US bank branches about to offer Bitcoin to their 24 million customers

Deal Could See 650 Banks Offer Bitcoin to 24 million Customers (yahoo.com)


I am seeing stories every day about this bank or this country or this institution or this business or this fund getting into Crypto - the adoption rate in other countries is really picking up steam. The UK needs to pick up its big T-Rex head and look around at what is happening elsewhere.

Type_45

Crypto shills:  please be aware that there is an angry anti-crypto bloke monitoring this thread.  Please also be advised that he's Scottish and there's a major sporting competition under way, so he's in an even worse mood.