/biz/ - Business & Finance

>>54598350
>This innovation will transform the financial system as we know it. In the future, the Bitcoin network will be the base layer of the financial system. People will use bitcoin's network and not even know it. And most people won't even own it. I hope anons realize this.
And what’s stopping the US government from just banning Bitcoin, or creating their own coin with the same properties? There’s zero legal or moral obligation to let crypto currencies live. They have no intrinsic value and they threaten the stability of our banking system and the power of our military. If they decide it’s a threat to my national defense or economic security, they’ll outlaw it or create a superior currency of their own and there will be nothing you or anyone else can do to stop it.

>>54598415
Sure, the US gov can ban an innovation but this will reveal their motives and those that embrace it will leverage it against the US. I'm sure they know this and because of this, they won't ban it. The genie is out of the bottle, it's too late.

>>54598415
What's stopping the US government from banning anything?
The US government seized people's gold at one point, nothing is safe by that logic

>>54598507
That's over dramatic ,they didn't go door to door ruby ridge or waco style stealing people's gold and killing them ,people just hid it or had gold jewelry,

>>54598491
>Sure, the US gov can ban an innovation but this will reveal their motives and those that embrace it will leverage it against the US. I'm sure they know this and because of this, they won't ban it. The genie is out of the bottle, it's too late.
You’re assuming the US wants global peace, happiness, and prosperity. They don’t. They like being the most powerful, wealthiest nation on earth - at all costs. They will happily sacrifice the welfare and prosperity of the world in order to maintain their power and military supremacy. Don’t underestimate the US ability or willingness to cause suffering for the sake of profits and geopolitical dominance.

>>54598535
The US empire is already in it's death throes, and nothing will stop it. At some point the dollar will inflate away. Change is coming and nobody can stop it. For the US to stay relevant in the world, they will be forced to embrace bitcoin.

2+2=4, you can't ban that. I'm not saying some wont try, but ultimately innovation wins.

>>54598638
>The US empire is already in it's death throes, and nothing will stop it. At some point the dollar will inflate away. Change is coming and nobody can stop it. For the US to stay relevant in the world, they will be forced to embrace bitcoin.
>2+2=4, you can't ban that. I'm not saying some wont try, but ultimately innovation wins.
The US is still the largest economy in the world by GDP per Capita, by real GDP overall, and by military and naval capability. To say the US is currently in its death throes is a massive exaggeration.

But I do agree that the US will one day adopt a crypto currency of some kind, whether it's Bitcoin, Ethereum, or some other coin. It's a no-brainer - it's going to be adopted by everyone eventually, it's just a matter of when and by who. The US government will eventually come around and realize it's the best way forward for economic stability and safety.

>>54598350
>And most people won't even own it
Do you not own bitcoin by using it?

>>54598673
The U.S. can't afford to pay the interest on their national debt.
You mention the military, but their entire budget is smaller than what the interest on the national debt is.

>>54598694
>The U.S. can't afford to pay the interest on their national debt.
>You mention the military, but their entire budget is smaller than what the interest on the national debt is.
But that's the beauty of modern monetary policy - the US doesn't need to pay their debts while they control the global reserve currency. If they're in a tight spot, they could always just print more dollars to pay their debts off, hyperinflation be damned.

>>54598685
Bitcoin is going to backstop the global energy markets because mining bitcoin is a put option on electricity, and everything will be built out from there.

For the average normie they will just work under this paradigm.
The average normie that's into crypto doesn't even own their own private keys.

>>54598707
They print more dollars, but who buys the debt?

Without bond buyers sending good to USA for free the entire scam falls apart.

Just look at the last week's events.
Brazil, Russia, India, China, Iran, France, etc. are all ditching the dollar as the WRC because its become obvious the juice isn't worth the squeeze.

>>54598720
>They print more dollars, but who buys the debt?
>Without bond buyers sending good to USA for free the entire scam falls apart.
>Just look at the last week's events.
>Brazil, Russia, India, China, Iran, France, etc. are all ditching the dollar as the WRC because its become obvious the juice isn't worth the squeeze.
You’re looking at it from the wrong perspective. Yes, those countries would love for their currency to be the global reserve currency. But why would anyone else choose a less stable, less powerful currency? When has a less stable currency ever replaced a more stable and powerful one? That’s not how humans think - we choose safety and security over all else when it comes to our money. People will always choose the US dollar over a risky new currency, just like we always choose to put our life savings in bonds instead of random start-up stocks.

>>54598350
This but actually ETH and XRP.

>>54598734
>just like we always choose to put our life savings in bonds
The Fed just had to bail out a bunch of banks for following this belief.
The USD system is falling apart.

>>54598673
I said the US "empire" is in its death throes, not the US. The current situation is not sustainable and will eventually collapse upon itself. I believe it'll happen faster than most people think it will. Just look at the non dollar deals the Saudis are doing, in the past, that would've been reason enough to wage war. But now many countries are doing it.
Whoever, likely a group within government, created Bitcoin, created it knowing this day would come.

>>54598749
>The Fed just had to bail out a bunch of banks for following this belief.
>The USD system is falling apart.
The Fed bailed out the banks to avoid a total financial and economic collapse. I’m not saying they chose right or wrong. But if they didn’t bail out the banks it could have wiped out everyone’s savings and forced a global depression. It seems crazy to think that the US government would do something like that to us - print more money and intentionally causing inflation - but they already did it, and they would most certainly do it again.

>>54598734
>But why would anyone else choose a less stable, less powerful currency?
>>54598756
>The Fed bailed out the banks to avoid a total financial and economic collapse.

lmao

>>54598766
Taken out of context. You're fucking stupid. lol

>>54598751
>I said the US "empire" is in its death throes, not the US. The current situation is not sustainable and will eventually collapse upon itself. I believe it'll happen faster than most people think it will. Just look at the non dollar deals the Saudis are doing, in the past, that would've been reason enough to wage war. But now many countries are doing it.
>Whoever, likely a group within government, created Bitcoin, created it knowing this day would come.
Anyways............Why would someone who created Bitcoin specifically for this reason make it public? Why not just hold and trade it themselves and make billions? That doesn’t make any sense to me. If you’re going to create an asset that solves an economic problem, don’t make it public. Why would that someone want to help other people who they don’t even know and won’t ever meet? That’s not something I’d do, I’m not sure why someone else would - unless there is one or more people who control the development of Bitcoin and actually have other motives.

>>54598789
The currency is obviously unstable if they have to cause inflation to stop banks from failing because they raised interest rates to slow inflation.

It's not even that complex I don't see how you're arguing for it.

>>54598805
Do you even know how bitcoin works?

Everything that connects to the network gives it more value.

>>54598685
You do now, but in the future most people won't, but they will use the Bitcoin network without realizing it. An example would be how you could send dollar remittances on Strike. Strike uses LN to send funds but the user doesn't realize it. Bitcoin will be something like tcip/IP but for the financial system. Just imagine all the friction/waste involved in the transfer of value in the current antiquated financial system. Bitcoin removes that. Hal Finney wrote something about how it's likely that some banks in the future will issue their own currencies backed by Bitcoin.

>>54598832
>Do you even know how bitcoin works?
>Everything that connects to the network gives it more value.
No - please explain. Why would something that connects to the network give it more value? What’s the difference between two nodes versus 10 nodes versus 1,000 nodes? Why does the number of nodes on the network increase the value of Bitcoin?

>>54598734
>But why would anyone else choose a less stable, less powerful currency
you realise you're talking about the USD right

>>54598853
It's not number of nodes it's the hashrate.

There are only 21m bitcoin the inside of Gabriel's Horn, but any amount of hash can be added this is the outside of Gabriel's horn.

Bitcoin being a put option on electricity means that mining bitcoin sets a minimum return for kWh. This creates a global competition to harness and allocated electricity.
So as more people and powerplants are connected to the network the value of your BTC stretches further because it's equal to more hash which is equal to more kWh.

The catch is that if you allocate too much electricity to the network it'll raise the mining difficulty and your returns will not be great.

So you have to find an equilibrium of cheap electricity and a hierarchy of uses and that gets built out.

Mining is best used to balance load for nuclear and other powerplants, flare gas, or heat water, but in some cases like in Siberia they have so many resources they can build bitcoin mines as a halfstep and then build the infrastructure from there after they harnessed the electricity source.

>>54598911
So it’s like a pyramid scheme. The more participants there are, the more valuable the coin becomes. And there’s a financial motivation to get as many people involved in it as possible, which is kind of a classic pyramid scheme strategy - try to recruit as many people as you can to get rich quick, because that’s how pyramid schemes work - you’re paid with money that other people paid into the system. But the more people you bring in, the bigger the pot. That’s also kind of a classic Ponzi scheme strategy, actually.

>>54598923
You missed the part about taking control over the energy infrastructure and if you don't provide the goods at a good price you fail.

Then contrast that with the green movement and how everything is getting more expensive.

Reread my post and think about the equilibrium that needs to be achieved.

>>54598944
>You missed the part about taking control over the energy infrastructure and if you don't provide the goods at a good price you fail.
>Then contrast that with the green movement and how everything is getting more expensive.
>Reread my post and think about the equilibrium that needs to be achieved.
I think you're missing that Bitcoin and other coins are simply pyramid schemes. There's nothing of real value that's being generated. It's an artificial asset that people hope to sell for more than they paid for it. But since it's not backed by any real thing, if people stop wanting to buy it, the value goes down to zero and then what happens to all the people who invested all of this real money? It's not much different than a Ponzi or pyramid scheme - it relies on constant, constant, constant growth and participation in the system to keep the value growing.

You can factor in electricity all you want, but it doesn't change the fact that its literally an electricity grid parasite.

>>54598853
It's the "network effect". The larger the network, the more valuable it is. Bitcoin being a money absolutely thrives on adoption. Bitcoin is one of those things that was inevitable and I'm sure that whoever created it wanted to be the first, and the way they did it was genius.

>>54598959
You're not a real person who wants to debate or learn.

>>54598961
>It's the "network effect". The larger the network, the more valuable it is. Bitcoin being a money absolutely thrives on adoption. Bitcoin is one of those things that was inevitable and I'm sure that whoever created it wanted to be the first, and the way they did it was genius.
It's a self-reinforcing spiral. If we could turn back time and prevent Bitcoin from ever starting, do you think it would become a thing? You said yourself it only has any value because people want to buy it. But why do people want to buy it? Because others already bought it. It was never about creating something useful for society - it was about creating a scheme where people would keep buying tokens so the early adopters could make money off everyone else. That's why it's an unsustainable Ponzi scheme. It's a fake currency with no actual intrinsic value.

>>54598966
>You're not a real person who wants to debate or learn.
You're not a real person who wants to debate or learn.

>>54598966
>You're not a real person who wants to debate or learn.
What did I say that's untrue? Why would anyone want to buy and hold Bitcoin? If I created a new coin today and then told you that it had no intrinsic value other than whatever value we decide to put into it, would you want to buy it? Yes, I agree it's a network effect that causes people to think it has value once it gets popular enough, but I'm asking why people would even want to buy it in the first place? What would inspire people to invest in it? What actual real thing would anyone point to and say "this is why Bitcoin is valuable"?

>>54598350
Based gold chad

>>54598990
You'll need to study history more to understand it I suppose.

But it's not a bad thing people get their Bitcoin at the price they deserve.

>>54598415
>And what’s stopping the US government from just banning Bitcoin, or creating their own coin with the same properties? There’s zero legal or moral obligation to let crypto currencies live. They have no intrinsic value and they threaten the stability of our banking system and the power of our military. If they decide it’s a threat to my national defense or economic security, they’ll outlaw it or create a superior currency of their own and there will be nothing you or anyone else can do to stop it.

He doesn't know that the Federal reserve is already a private company that undermines his countries national interests. Or he does and he is just Jewish trying to stir up the emotions of ignorant patriotic masses to see Bitcoin as an enemy of America.

The Federal reserve is a private company and the IRS is unconstitutional, you SEC is a system of Jews that regulate the market to serve the interests of a trans national, trans racial collection of parasites:

I will leave a quote by Jordan Peterson:
> The struggle between the people and the hatred amongst them is being nurtured by very specific interested parties. It is a small, rootless, international clique that is turning the people against each other, that does not want them to have peace. It is the people who are at home both nowhere and everywhere, who do not have anywhere a soil on which they have grown up, but who live in Berlin today, in Brussels tomorrow, Paris the day after that, and then again in Prague or Vienna or London, and who feel at home everywhere. They are the only ones who can be addressed as international elements, because they conduct their business everywhere, but the people cannot follow them. The people are bounded to their soil, bounded to its fatherland, bounded to the possibilities of life that the state, the nation, offers.“

Fuckin love this copypasta
>This innovation will transform the financial system as we know it. In the future, the Bitcoin network will be the base layer of the financial system. People will use bitcoin's network and not even know it. And most people won't even own it. I hope anons realize this.
Im going to use the innovative rodeo finance (tm) platform in order to trade the innovative arbitrum (tm) token on the innovative blokchain (c) tech in order to push technology and a better future forward, together.

>>54599013
>You'll need to study history more to understand it I suppose.
>But it's not a bad thing people get their Bitcoin at the price they deserve.
That’s not an answer! When people bought tulip bulbs in the 1600s and then realized there was no actual intrinsic value to them, that was also just the “price they deserve”, right? No one forced them to buy it at such ridiculously inflated prices.

But you didn’t answer my question - why would anyone buy a non-fungible, digitally limited asset other than their belief that they’d be able to find someone even dumber to sell it to for a profit? That’s basically the definition of a Ponzi scheme, no?

>>54598350
It has already begun and the heat is being felt across the globe. I fear for Traditional finance as DeFi continues to improve. Take spoolfi for instance how it has made yield farming easy. DApp like Uniswap where you can confidently exchange without a thrid party.

>>54599038
I don't have time for this lmao keep holding bonds bud.

>>54599070
>I don't have time for this lmao keep holding bonds bud.
Honey, I will. And when the US Dollar hyperinflates, I’ll be ready with my precious metals.

>>54599031
It is so obvious, the genesis block includes who they are.
Remember when a pint of beer cost 0.99 cent, that is the power of the Jewish central banking system, they steal from you by devaluing your currency and then claim you made money and so they tax you with their unconstitutional IRS.

The system is subverted and is an enemy of America and free people everywhere, it is therefore necessary to embrace blockchain and all the cryptocurrencies,. to break their monopoly.

From the words of Maddison:
> Amount the numerous advantages promised by a well constructed union none deserves to be more accurately developed than the tenancies to break and control the violence of faction.

Blockchain breaks and controls the violence of faction, by introducing competition and decentralising the power that they use to create violence and war, with the financial governance of the central banking system. Silver holding shiny rocks isn't going to do shit because its a digital market now.

>>54599081
You're historically illiterate, but go ahead I don't care you get Bitcoin at the price you deserve.

>>54599096
>You're historically illiterate, but go ahead I don't care you get Bitcoin at the price you deserve.
What exactly am I incorrect about? Please explain. I’m not trying to be argumentative or difficult. If I’m wrong, I’m wrong. What, other than the popularity of Bitcoin itself, causes it to have value? Do you actually believe that it’s “real” the same way gold or diamonds or real estate are valuable? Is it as valuable as those other things? Why? Please make your case. I’m genuinely asking. I will always keep an open mind and am willing to change my mind if I’m proven wrong.

>>54599031
based anon

>>54598969
A ponzi scheme is where investors are promised returns, and those returns are derived from newer investors funds. This is not occurring with bitcoin.
Bitcoin's value is that its a scarce digital asset that can transfer value between two individuals over space. Its digital money. So prior to it's invention, how did people send money to each other? Do you know what is going on in the background to make that transaction possible and all the intermediaries involved? Bitcoin removes that friction. This is one of the reasons it's valuable. If Western Union leveraged the LN to send remittances like Stike is doing, then they could eliminate waste within the company and increase it's profitability. Same with all current payment systems. Bitcoin will force all companies to use it and Saylor is going to illustrate this point.

>>54599109
Gold was valuable up until the point of trusting jewish banks to hold it for you.

Since then jewish banks dominated and manipulated everything to the point it isn't efficient anymore.

So do we go back to gold, go back to trusting a jewish bank on new ledger (CBDC), or do we try something else that retains the properties of gold while also keeping a ledger that's unable to be manipulated.

Diamonds and gold aren't going to build an economy they're dumb as rocks.

>>54599132
>A ponzi scheme is where investors are promised returns, and those returns are derived from newer investors funds. This is not occurring with bitcoin.
>Bitcoin's value is that its a scarce digital asset that can transfer value between two individuals over space. Its digital money. So prior to it's invention, how did people send money to each other? Do you know what is going on in the background to make that transaction possible and all the intermediaries involved? Bitcoin removes that friction. This is one of the reasons it's valuable. If Western Union leveraged the LN to send remittances like Stike is doing, then they could eliminate waste within the company and increase it's profitability. Same with all current payment systems. Bitcoin will force all companies to use it and Saylor is going to illustrate this point.
Ok, I understand that Bitcoin can serve as a medium of exchange, which is useful. But how would that give it any actual value? If I created the next version of Bitcoin today (and we can call it Shitcoin for simplicity), and I gave it the same properties (decentralized, digitally scarce and limited, secure, easy to use), would you want to buy my Shitcoin? Would you want to hold it as a store of value? What would you be willing to exchange your cash or gold or real estate or cars for my Shitcoin?

>>54599135
I agree. Bitcoin is thee asset for the digital age, there's no viable alternative. CBDCs, Yuan, Dollar are low quality forms of money, they aren't even money. Gold is better money but it's simply not suitable for the digital age.

>>54599164
>decentralized, digitally scarce and limited, secure
Nobody can do this to the level of Bitcoin it was a once in a lifetime event.

You have to understand how decentralization, and security is accomplished before you can understand that it can't be replicated.

>>54599194
>Nobody can do this to the level of Bitcoin it was a once in a lifetime event.
>You have to understand how decentralization, and security is accomplished before you can understand that it can't be replicated.
Why can’t it be replicated? What does Bitcoin do that’s so unique? If I created a new coin today that was completely identical to Bitcoin in all ways except it was even more scarce, then wouldn’t that new coin be just better than Bitcoin, therefore everyone would want it over Bitcoin, and therefore it would take over the market? Why not? Why would anyone still want to buy Bitcoin? What makes it so unique and irreplaceable?

>>54599204
What will happen is you'll have a couple idiots who think like you buy it and then it'll peter off like the other 30,000 altcoins that have tried.

>what if I make a bitcoin 3 that's even more extreme than your bitcoin 2

It's just such a stupid argument that ignores the current level of progress Bitcoin has achieved.

Are you going to mine it?
What algorithm?
What miners?

See you already failed.

You probably never heard of FPGAs, ASIC resistance, ASICs on moores law, etc.

>>54599204
This is how it works under 1,000s of simulations.

>>54599234
I agree - most altcoins are created by idiots who don’t seem to know how crypto works, like you said.

But you didn’t answer my question - if I make a new coin that’s identical to Bitcoin, with the same decentralized technology and the same security, everything, but this new coin is even more scarce than Bitcoin, then why wouldn’t that new coin be more valuable than Bitcoin? What prevents this from happening? Why isn’t there already something better out there? Why won’t people adopt the new coin? Why continue to trust Bitcoin?

>>54599253
Even if you had infinity money cheat it would be basically impossible to replace bitcoin with something else.

Study Bitcoin mining it's a rabbit hole full of high level engineers from all different backgrounds.

You simply don't invent some shit and get floor at TSMC 5nm and have those semiconductors integrated into the grid across the world.

>>54599164
Shitcoin's price would be a reflection of it's network. So in order to gain value, it's network would have to grow. Bitcoin's network has grown to an immense size and it's price somewhat reflects that. In my opinion, it's undervalued at this point. Bitcoins' network is what makes it valuable. I don't believe any company on Earth has the resources to replicate the bitcoin network. Bitcoin is a digital organism that has grown and continues to grow. So if your Shitcoin did the same then it would indeed be valuable. The thing is that bitcoin is the fastest horse out of the gate and it's long gone and nobody is going to catch up to it.

>>54599282
>Even if you had infinity money cheat it would be basically impossible to replace bitcoin with something else.
>Study Bitcoin mining it's a rabbit hole full of high level engineers from all different backgrounds.
>You simply don't invent some shit and get floor at TSMC 5nm and have those semiconductors integrated into the grid across the world.
So the only reason Bitcoin is valuable is because of all of the engineering that’s already been performed, and anyone who comes in trying to create something else would have to create something even MORE valuable than Bitcoin to get people to use it, right?

What if they created something even MORE valuable than Bitcoin? Would people switch to that or do you think people would still stick with Bitcoin?

>>54599282
There has to be market incentives and competition driving it.

Think of it like how they send billions of dollars to Africa in aid, but it'll never close the gap of 100,000s of years of evolution.

>>54599188
The ultimate money is violence though. And the USD is backed by the greatest violence

What is stopping anyone from just straight up copying BTC and saying, "hey look BTC2.0. Fort the electricity and shit." and then a bunch of dunning-krueger normies give them a ton of wealth while thinking "i'm so smart"

>>54599295
Check out the formula for violence in DoD spook Jason Lowrey's book.

If the violence increase risk of injury and costs you then you make a deal instead.

It's funny to think that if and when bitcoin hits $100k, Mircrostrategy's balance sheet is going to look great and Saylor's move is going to force companies to put bitcoin on their balance sheet, hahaha.

>>54599289
Or what if they just contribute to bitcoin because that'll give them better returns.

>>54599332
>Or what if they just contribute to bitcoin because that'll give them better returns.
Why would they do that? If they could create their own altcoin that was more scarce than Bitcoin and therefore (since it’s more scarce) more valuable, isn’t that better? Why not create and control their own currency, like a central bank, so they’d get all of the new coins and sell them off? What incentive would they have to just stick to making Bitcoin better? If they have control over the code and can make it do anything, how is that any different than a central bank or a government controlling the money supply?

>>54599368
Nobody would adopt it. The fact that bitcoin is an autonomous digital organism of neutral money makes it attractive.

>>54599368
Sellers need buyers. You can scam someone into buying garbage once, or you can use the threat of force to pen someone into a system. But getting buyers to willingly and continuously transact using your specific currency requires a legacy that only BTC (and to a lesser extent ETH) have proven they deserve.

>>54599368
Because bitcoin already has all the engineers, powerplants, ASICs, etc.
It already has the fairest rules and that's why it's gaining adoption.

The CBDC retards are hiring failed altcoin devs at MIT's DCI
Central bank ideas are outdated.

I'm done responding because you don't understand what it takes you need to study the history of this space.

>>54599399
>Sellers need buyers. You can scam someone into buying garbage once, or you can use the threat of force to pen someone into a system. But getting buyers to willingly and continuously transact using your specific currency requires a legacy that only BTC (and to a lesser extent ETH) have proven they deserve.
I don’t disagree - Bitcoin clearly provides value to people, and its value is based on an increasing number of people using it. But my question is what is so unique about Bitcoin specifically? In other words, what are the factors that lead people to value Bitcoin over a theoretical “better Bitcoin” that’s more scarce, more secure, more useful than Bitcoin? I’m asking what specifically makes Bitcoin valuable? And don’t just tell me scarcity. Scarcity is a necessary condition for monetary value, but it’s not a sufficient one - what else?

>>54599295
This pathway isn't sustainable over the long-term. It's like a candle burning at both ends. The truth is, the US military isn't as powerful as people think. Much of the equipment needs upgrading, too many years of corrupt defense contractor deals that produced junk. Just the expenses on servicemen is a huge drain. Almost every ex military guy I know gets a few thousand a month from disability claims. Now look at the debt, and if foreign countries stop buying bonds, then it's indeed over. Time to close all 700 bases abroad.

>>54599403
>I'm done responding because you don't understand what it takes you need to study the history of this space.
Dismissive remarks means you have no idea what your talking about or can't make a valid point further.

Ahem....if the next coin that comes along has the exact same things but is more scarce, then wouldn’t there be a real possibility that it would eat away some of the Bitcoin market cap and cause the Bitcoin “brand” to lose its value? How do you think people would react if a new coin started to gain market value (especially when measured in Bitcoin) relative to Bitcoin itself? And if that were to happen, why wouldn’t people just sell their Bitcoin and buy that other one, since it has all of the same properties except more scarcity?

>>54599135

In regards to how close you came to answering his questions and talking points with relevant, intelligent counterpoints, you're not even in the same time zone. Can you please just answer the fucking question? What gives crypto any intrinsic value, retard? Is it a tangible object with utility like gold or diamonds?

>>54599411
It's the network dude! You could copy bitcoin's code and list it, but good luck growing the network. Bitcoin was a once in lifetime phenomenon, it's not going to happen again. Both BSV and BCH say they are the better bitcoin and as we can see, the market doesn't think so.

>>54599482
They're trolling /biz/ is a cesspool

>>54599411
>what is so unique about Bitcoin specifically?
Its legacy as the most popular and largest cryptocurrency, giving it a network effect. It's like asking what's so unique about USD when Thai bahts achieve practically the same thing? Or what's so unique about Apple when Sun Microsystems has some pretty great engineers? What's so unique about Pokemon when Digimon is pretty cool? It's that BTC is the largest and most liquid crypto, giving it qualities others can't hope to match. More reliability, greater trust, more interest from big buyers and sellers, etc. There have been many come-and-gone replacements for BTC, some with more modern tech, but none of them have replaced BTC because BTC's miners, traders, and users aren't interested. Just as they're not interested in bahts, Sun Microsystems, or Digimon.

>>54599482
Agreed. The network is very important. That’s why I’m not suggesting someone just create another Bitcoin by copying its code and then listing it. I’m suggesting someone (or some company) creates a completely different coin that people would actually prefer to buy, and then listing that. What would prevent that from happening? Why would people continue to buy Bitcoin if something better in every single way for its intended use-case came along?

>>54599488
I think so

>>54599495
>I’m suggesting someone (or some company)
Part of BTC's value comes from its immutable ledger. A Superbitcoin controlled by a company defeats the purpose - see Facebook's Diem. If Satoshi had personally fooled around as a dev after releasing the project, BTC would likewise suffer, with users asking if he were trustworthy. Trust is foundational to BTC, and that trust is derived from miners securing the network, not a single company running things from some server somewhere.

>>54599513
>Part of BTC's value comes from its immutable ledger. A Superbitcoin controlled by a company defeats the purpose - see Facebook's Diem. If Satoshi had personally fooled around as a dev after releasing the project, BTC would likewise suffer, with users asking if he were trustworthy. Trust is foundational to BTC, and that trust is derived from miners securing the network, not a single company running things from some server somewhere.
Ok, so trust is one of the properties of Bitcoin that is very important for adoption. Good one, brainlet. What other properties does Bitcoin have that can’t be duplicated, and wouldn’t a more popular and trust worthy coin with these same properties render Bitcoin unnecessary?

>>54599544
>What if there was ANOTHER first cryptocurrency?
Ah, I see you're arguing in bad faith using impossible hypotheticals. Thanks more wasting my time, I guess?

>>54599557
>Ah, I see you're arguing in bad faith using impossible hypotheticals. Thanks more wasting my time, I guess?
Okay, here we go again..... Sorry for my remark, but your arguing very obvious points.

You're saying that Bitcoin is valuable because of its trust, and no other coin could ever have this attribute. I'm asking what would prevent a more centralized/private/single entity version of Bitcoin with all of the same properties except this one, from being more popular? Why would anyone continue to buy and hold Bitcoin (at all, much less at the volume they are) if someone actually made this better version of Bitcoin except that it was much more controlled and owned by a single entity?

>>54599513
Until a single sat from his stash moves then all faith is obliterated

>>54598734
Discussing BRICS, it could backed by gold or other rare earth elements. Meanwhile the usd is backed by nothing, being printed into oblivion.
> But why would anyone else choose a less stable, less powerful currency? When has a less stable currency ever replaced a more stable and powerful one?
Topkek

>>54599594
It would be a rollicking good ruse, that's for sure.

>>54599576
>a more centralized/private/single entity version of Bitcoin
Why would this be more trustworthy? It wouldn't. That's the whole point. To make a superior nuBTC, you'd need the kind of alignment of events (an anonymous Satoshi-like developer who's also a genius computer scientist, a decade's worth of distributed mining infrastructure, etc.) that simply can't be recreated.

>>54599096

>>54598853
Wow, you’re stupid.

>>54598923
>>54598959
Like, really stupid. Can you even read?

>>54599932
If this person is genuine, I feel bad for him.

>>54599576
Goddamn. Like, why are you even here? I hope you’re a troll.

>>54599952
Haha, beat me to it Anon.

>>54598833
why aren't there alts backed by butcoin?

>>54598749
This picture is extremely misleading.
It was basically all gold until the end of Bretton woods.

After the end of Bretton woods basically everybody was larping and pretending gold didn't exist. For some years it didn't have an "official" role in the world's monetary system but everybody knows what's up.

>>54599990
There was, USDT. Just wait til the market cap reaches $5 trillion. It'll be backing up company balance sheets. If you don't see what's happening, I suggest you pay closer attention if you want a good future. You won't have another opportunity.

>>54598911
It's not just about cheap electricity. It's also about efficiency. We went from cpu, to gpu, to ASIC mining quickly, and even the old ASIC miners are not cost efficient to run.

>>54598350
It is more than just an investment to me now. It is also money for me. I DCA and I use it for purchases on CryptMi so it works as both for me.

>>54598350
yeah, nah

>>54598662
2+2=4 is racist
https://mercatornet.com/is-it-racist-to-say-that-224/65717/

>>54599096
>Under the executive order of the President, anyone found holding or trading in bitcoin will be punished with a minimum 10 year sentence in a federal prison. All bitcoin will be confiscated and sold.

>>54600457
>get on plane to dubai
Problem, glowies?

>>54600521
>Under the executive order of the Prime Minister of the United Arab Emirates, anyone found holding or trading in bitcoin will be punished with 1000 lashes and then to be dropped off a tall crane in the public square. All bitcoin will be confiscated and sold.
It's over.

>>54599109
Nothing has value unless we give it value retard
Gold isn’t “inherently valuable”

>>54599594
Satoshi is dead retard

>>54599576
I’m embarrassed for you. Rip

>>54599295
Huh, then should i buy rubles?
They are slaying NATO hordes with convicts armed with shovels and have more nukes.

>>54600891
Why though?
You do support the Palestinian struggle?
Is the UAE a cryptokike nation?

>>54601143
nailed it. metal sissies don't grasp what the concept of a medium of exchange is

>>54598535
>assuming the US wants global peace, happiness, and prosperity. They don’t.
Charts say otherwise.

>>54598350
BTC is more 10K than you think.

>>54599301
What do you think all the shitcoins are?

>>54599031
>The struggle between the people and the hatred amongst them is being nurtured by very specific interested parties. It is a small, rootless, international clique that is turning the people against each other, that does not want them to have peace. It is the people who are at home both nowhere and everywhere, who do not have anywhere a soil on which they have grown up, but who live in Berlin today, in Brussels tomorrow, Paris the day after that, and then again in Prague or Vienna or London, and who feel at home everywhere. They are the only ones who can be addressed as international elements, because they conduct their business everywhere, but the people cannot follow them. The people are bounded to their soil, bounded to its fatherland, bounded to the possibilities of life that the state, the nation, offers.“
https://www.youtube.com/watch?v=C87cQvdjuFc

Based.

>>54598415
I don't think this is likely, it's much easier and more profitable for the feds to:
>get tax revenue off of crypto trades and companies
>make laws around trading it
>make money from using those laws in enforcement