TRIBALISM = GOOD

Author: 3RU7AL
Ethics
intp
Information War
Anarchy
GNOSTIC

Posts

Total: 117
Topic's author
#61
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
Bitcoin is more like stock?
right, except for stock can be manipulated

stock can be split or reverse-split

shares can be converted from voting shares to non-voting shares

bitcoin is deployed at a steady rate that is cut in half at predictable intervals

and the total will never be more than twenty one million bitcoin
Topic's author
#62
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
Which I see you've valued in dollars.
would you like that in bushels of grain ?
#63
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
Well, grain is an essential commodity that can be sold, or turned into flour or beer.


Nonetheless, I'm just curious about the actual benefits of of a new brand of currency over the old ones.

Given that all currency has now largely become a part of an integrated-crypto system

For sure, some people will still have cash stashed under the mattress.

Tough I don't see old fashioned currency tokens lasting for much longer, given the ensuing development of the global data matrix.


Presumably their will be one standard value, whether that be referred to as Bitcoin, Dollar or Yuan.

Isn't Bitcoin currently just a bit of a novelty plaything for the techno-savvy?
Topic's author
#64
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
Nonetheless, I'm just curious about the actual benefits of of a new brand of currency over the old ones.

anyone with an email address can receive and send bitcoin to anyone else with an email address - anywhere on earth

nobody can block this transaction

this utility is highlighted by the wikileaks credit card blockade and the canadian trucker bank account freeze

bitcoin facilitates international transfers of value with much lower fees than traditional services like western union and simplifies currency conversion

bitcoin facilitates free trade between nations that are blocked by swift or sanctioned by governments

bitcoin is a purely neutral value vehicle that can't be inflated or created out of thin air like every national currency and stock certificate on earth

a good illustration of this contrast with traditional fiat banking is the largest bank heist of all time

"Cashing crews" pulled $40 million out of automated teller machines in 24 countries over a 10-hour period. The 2013 heist was accomplished with the precision of a Hollywood drama, thanks to hackers who breached financial networks, then inflated balances on prepaid debit cards.

the thieves were able to hack into the debit card ledger and literally type in whatever dollar amount they wanted

which is the most shocking and undeniable evidence that fiat dollars do not exist in any universal ledger and can be created out of thin air

another good example of rampant and normalized accounting fraud is the gamestop short-squeeze

the hedge-funds who were shorting gamestop had actually shorted MORE stock than existed in shareholder hands

this made it impossible for them to settle

and that's why they had to force the exchanges to freeze all purchases of gamestop - - specifically with the aim of crashing it - - blatant stock manipulation

and look, don't even get me started on the gold and silver scams
#65
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
So I can just pretend that I have Bitcoin and start emailing it around?
Topic's author
#66
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
So I can just pretend that I have Bitcoin and start emailing it around?
that won't get you very far
#67
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
So how does one acquire Bitcoin?

Topic's author
#68
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
So how does one acquire Bitcoin?
I live in the US and have started to DCA in BTC and move this into cold storage ~weekly. What is the cheapest way to purchase BTC in the US? I have used Coinbase and Robinhood but am wondering if cash app or other exchanges are better for the way I am buying. Thanks in advance ! [[LINK]]

i use coinbase.com
#69
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
Yep, but you don't get it for nothing?

Topic's author
#70
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
Yep, but you don't get it for nothing?
you can probably exchange it for goods or services you offer
#71
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
So, I'm a Brit.

Why would I sell my goods and services for BTC rather than Sterling, unless it had a relative value.

And if it did have a value relative to Sterling then why would BTC be preferential?
Topic's author
#72
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4

here's your price in gbp

the value proposition is

that, like all fiat

gbp is inflating


Value of £20,000 from 1990 to 2024

£20,000 in 1990 is equivalent in purchasing power to about £56,970.30 today, an increase of £36,970.30 over 34 years. The pound had an average inflation rate of 3.13% per year between 1990 and today, producing a cumulative price increase of 184.85%.
This means that today's prices are 2.85 times as high as average prices since 1990, according to the Office for National Statistics composite price index. A pound today only buys 35.106% of what it could buy back then.

in other words, if you were making £20,000 per year in 1990

and today you are making £56,970.30 per year

then you are essentially making the exact same amount of money this entire time


bitcoin can never be inflated
#73
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
How can the purchasing power of BTC remain unchanging, if the value of goods and services is always inflating?
#74
ebuc
ebuc's avatar
Debates: 0
Posts: 4,920
3
2
4
ebuc's avatar
ebuc
3
2
4
-->
@zedvictor4

..." Encryption

...Bitcoin uses the SHA-256 hashing algorithm to encrypt (hash) the data stored in the blocks on the blockchain. Simply put, transaction data stored in a block is encrypted into a 256-bit (64-digit) hexadecimal number. That number contains all the transaction data and information linked to the blocks before that block.
Virtual Bitcoin.." A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.  "...

Gold bit coin, sliver, bronze, iron etc real metal wealth i.e. has a value to humans

Quantum bit  --ex photon or electron...

Meta-space information bit ---ex any finite pattern of communication that carries Meta-space information---

Horse bit used in mouth of horse to steer and stop travel of horse

Bit of meat may stem from can I have a bite of some of your meat, as I'm hungry. I will ' pay you back in kind ' wherein ' kind ' is child { kinder-garden } and the firsts born calf of one one of my cows, will be yours. Payment in kind > payment in virtual crypotcurrency that, semi-similar  air head { Meta-real wealth } economics ---designed or propagated by the rich 1890--1913---, has as exchange rate value { inflated or deflated }  that  can be converted into other kinds of wealth, as long as the currency base system does not collapse.




#75
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@ebuc
Isn't all currency managed in that way now?
#76
ebuc
ebuc's avatar
Debates: 0
Posts: 4,920
3
2
4
ebuc's avatar
ebuc
3
2
4
-->
@zedvictor4
Isn't all currency managed in that way now?

I dont know. Maybe 3RU knows. Im slow in economics educational curve
#77
TheUnderdog
TheUnderdog's avatar
Debates: 5
Posts: 4,340
3
5
10
TheUnderdog's avatar
TheUnderdog
3
5
10
-->
@3RU7AL
If people wish to segregate themselves, then that is their right.  If they wish to integrate, then that is their right.  I would believe most Hatian Americans don't live in a neighborhood for just Hatian Americans or even for Caribbean Americans (although I could be wrong on this).  If Hatians wanted to segregate, then they would still live in Haiti.
Topic's author
#78
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
How can the purchasing power of BTC remain unchanging, if the value of goods and services is always inflating?
"purchasing power" is not the same as INFLATION


BITCOIN cannot be printed on demand, that's why it will never INFLATE
Topic's author
#79
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@TheUnderdog
If Hatians wanted to segregate, then they would still live in Haiti.

not necessarily
#80
TheUnderdog
TheUnderdog's avatar
Debates: 5
Posts: 4,340
3
5
10
TheUnderdog's avatar
TheUnderdog
3
5
10
-->
@3RU7AL
How could they want to segregate and move out of the country with the most hatians per capita?
#81
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
If Bitcoin is a digital currency, then printing is a somewhat irrelevant analogy.

Nonetheless.

If goods and services increase in value and Bitcoin doesn't, it really just becomes an increasing numbers game, which is essentially inflation?

Doesn't it just depend upon who or what dictates the market?
Topic's author
#82
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@TheUnderdog
How could they want to segregate and move out of the country with the most hatians per capita?
for the same reason american tourists travel to tuscany and then eat at mcdonalds
Topic's author
#83
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
If goods and services increase in value and Bitcoin doesn't,
the bitcoin supply doesn't inflate

bitcoin value rises relative to the inflation of the usdollar + adoption
Topic's author
#84
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
If Bitcoin is a digital currency, then printing is a somewhat irrelevant analogy.
98% of usdollars are digital as well
Topic's author
#85
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
If Bitcoin is a digital currency, then printing is a somewhat irrelevant analogy.

#86
TheUnderdog
TheUnderdog's avatar
Debates: 5
Posts: 4,340
3
5
10
TheUnderdog's avatar
TheUnderdog
3
5
10
-->
@3RU7AL
for the same reason american tourists travel to tuscany and then eat at mcdonalds
That’s food.  It would be more like Americans moving to Italy along with a bunch of other ethnic group moving to Italy and then those Americans preferring to only live with other Americans.  If that’s you, then why move to Italy?
#87
zedvictor4
zedvictor4's avatar
Debates: 22
Posts: 12,074
3
3
6
zedvictor4's avatar
zedvictor4
3
3
6
-->
@3RU7AL
Yep I'm guessing that most/all currency will eventually be digital.

Which is why I question the suggested advantages of Bitcoin.


Bitcoin value rises relative to the inflation of the US dollar.
Yep, this is what I have  also been questioning.

Essentially Bitcoin must also inflate, otherwise it will either lose it's purchasing power or have an infinitely unearned value relative to all other currencies.

Society as we know it would collapse if money wasn't there to regulate it.
Topic's author
#88
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@TheUnderdog
That’s food.  It would be more like Americans moving to Italy along with a bunch of other ethnic group moving to Italy and then those Americans preferring to only live with other Americans.  If that’s you, then why move to Italy?
Expats tend to live near one another because of the costs and the amenities that they either expect or desire for themselves or in particular, their families. Most of those communities tend to be clustered near one another, too. It is also much easier to communicate in your own language, in somewhat familiar surroundings, and with others who will find that the laughable situations that occur in our daily business lives are just as laughable to them. 
Topic's author
#89
3RU7AL
3RU7AL's avatar
Debates: 3
Posts: 14,582
3
4
9
3RU7AL's avatar
3RU7AL
3
4
9
-->
@zedvictor4
Essentially Bitcoin must also inflate, otherwise it will either lose it's purchasing power or have an infinitely unearned value relative to all other currencies.
inflation is when a currency loses value due to overproduction relative to demand

deflation is when a currency gains value due to underproduction relative to demand

bitcoin cannot inflate

the supply is hard-coded
#90
TheUnderdog
TheUnderdog's avatar
Debates: 5
Posts: 4,340
3
5
10
TheUnderdog's avatar
TheUnderdog
3
5
10
-->
@3RU7AL
Expats tend to live near one another because of the costs and the amenities that they either expect or desire for themselves or in particular, their families. 
Integrating doesn't require additional cost.

 It is also much easier to communicate in your own language
What if the expats living in the US learn English (most do)?  If they didn't know English, then understandable.  But about 50% of immigrants that move to America are fluent in English I think (Chat GPT), and their kids are especially more likely to be fluent in English.  There is a reason why we are a melting pot rather than a mosaic.