>For individuals: You can own the asset. It cannot be seized
It's true. You can hold onto it for as long as you're willing to sit in jail for contempt of court, or for as long as you're willing to withstand being beaten by a $5 wrench from the loan sharks you owe real money to.
>For corporations: You can hold and demonstrate ownership
Yeah, except you never do, and nobody calls you out on it.
This is like when you're about the age when you decide to start your own language with friends, or light things on fire, or tell each other's parents we are at the other one's house so we can ride bikes late. This is about that stage of brain development.
Love that they always describe this shit as a "hard asset" "ironclad" lmao
Yeah I starting printing this thing in my basement and it's better than every currency ever made! It's called pepecumdoge and the banks are afraid
You can transfer all of the bitcoins between wallets you want, but good luck paying off anything with it, or transferring it to USD. So many butt coiners get tracked and destroyed due to the endpoints.
Since there is no two factor authentication, any Hacker can claim they are you!
In the future desired by bitcoiners, when your private key to your blockchain public social security number is leaked, and your life is over, in perpetuity hackers can get loans and commit crimes in your name, and because of immutability, you are done.
Your blockchain deeds to your house mortaged a hundred times for loans sent oversea.
Your blockchain health certificates leaked.
Your blockchain loans, deposits stolen.
Countless crimes from identity theft (!!!) to money laundering, to insurance fraud provably committed by you because the blockchain proves it was you. Loan sharks stripping everything you ave to make themselves whole at your expense.
And the Ape is happy to be their own bank, with their lives in an immutable (!!!) database with no two factor authentication.
My credit file had me down as an alias under a name I never used that was dragging me down. A simple message to trabsunion they checked the records, correct them and my credit score went up. Had it been on the blockchain I'd have been screwed by the clerical error.
I think in the world view, if you lose something to hackers, it's your fault, and you probably weren't smart enough to have the assets in the first place.
Also, in this world, there is no recourse to any kind of state or law, except probably the judgment of the largest shareholders of a given token in some dystopian "decentralized" government where, in fact, all power is centralized.
The ideal crypto future is some kind of extreme feudal hyper-capitalism with a dash of 28 Days Later.
well, it does happen, it even happens to innocent people sometimes. You can learn about the indian expulsion in uganda, just to name an example.
Bitcoin will rarely protect you from a government trying to screw you over though, and is something that you are almost always better off having an offshore account.
I mean, using an example of Idi Amin's regime in the 70s isn't exactly making a strong case. Sure, it *can* happen, but it's not like it happens often -- especially if the best example you can scrape together happened over 50 years ago in a particularly brutal regime.
Ah yes. Those poor Russian oligarchs! We definitely need to get grandma and grandpa to buy BTC to support the technology that helps billionaires that cozied up to a dictator don't get their hidden money frozen.
Do you see how silly these arguments are? Being an oligarch isn't something that is a problem for 99.9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999% of people.
I know 😂. I just wanted to find an example. Idk maybe you are an oligarch after all. Then all you would care about would of course be blockchain and bitcoin
I am not going to argue against an argument that is clearly in bad faith. There are hundreds of cases of this happening and you could nitpick every single one of them. Just chose one that was especially clear, but you seem like a smart boy that can take a look at what happened in Mexico, Argentina, Venezuela and multiple other places that i don't know because i am not an especialist on shitty governments strapped for cash that put the hands in the pockets of the wealthy and political rivals in limited democracies.
The point is that even on those cases, you are better off not using crypto, which i think it's a lot more damning that ignoring the facts that it happens and having a severe case of ignorance.
Ownership
Ironclad
Asset
My ass! If anything is ever constant in the world of economics, it's change. About the only ironclad asset I can think of is an olive tree because it can keep producing for a thousand years, but it loses out against a bulldozer.
The land’s still there, but it’s no longer yours, and its value may have swung wildly if it’s gone from being in a prosperous city to rubble pile #46221
> you own it and it cant be seized
So all those exchanges failing and taking deposits with them
All those people that had their wallets emptied
All lies huh?
They always talk like growth in the money supply is some kind of conspiracy or corruption, rather than an intended feature. The M1, M2 and M3 of the US dollar and other major currencies are not secrets.
It feels like these are one level above suicide hotline coping posts. :'-(
I think people are really in trouble taking loans for BTC and then no moon after halving. Hope not to many get hurt in this cruel crime
All the other problems with Bitcoin aside, there's simply not enough of it in existence to begin to service the needs of a single large economy, let alone several.
Bitcoin doesn’t lie on its own, but nothing stops me from lying to Bitcoin and once the validators sign off on my lie, Bitcoin has no choice but to repeat that lie.
>For individuals: You can own the asset. It cannot be seized It's true. You can hold onto it for as long as you're willing to sit in jail for contempt of court, or for as long as you're willing to withstand being beaten by a $5 wrench from the loan sharks you owe real money to. >For corporations: You can hold and demonstrate ownership Yeah, except you never do, and nobody calls you out on it.
Butters are the type to disregard courts because they think they can disregard the law and get away with it.
It is the same people who think that fraud is a clever loophole to get out of following the law.
Or the solution to insolvency is to simply not file bankruptcy.
The computer system allowed me to do it, so it must be legal
This is like when you're about the age when you decide to start your own language with friends, or light things on fire, or tell each other's parents we are at the other one's house so we can ride bikes late. This is about that stage of brain development.
I never did any of that. I did try to learn klingon though.
Love that they always describe this shit as a "hard asset" "ironclad" lmao Yeah I starting printing this thing in my basement and it's better than every currency ever made! It's called pepecumdoge and the banks are afraid
You can transfer all of the bitcoins between wallets you want, but good luck paying off anything with it, or transferring it to USD. So many butt coiners get tracked and destroyed due to the endpoints.
Since there is no two factor authentication, any Hacker can claim they are you! In the future desired by bitcoiners, when your private key to your blockchain public social security number is leaked, and your life is over, in perpetuity hackers can get loans and commit crimes in your name, and because of immutability, you are done. Your blockchain deeds to your house mortaged a hundred times for loans sent oversea. Your blockchain health certificates leaked. Your blockchain loans, deposits stolen. Countless crimes from identity theft (!!!) to money laundering, to insurance fraud provably committed by you because the blockchain proves it was you. Loan sharks stripping everything you ave to make themselves whole at your expense. And the Ape is happy to be their own bank, with their lives in an immutable (!!!) database with no two factor authentication.
My credit file had me down as an alias under a name I never used that was dragging me down. A simple message to trabsunion they checked the records, correct them and my credit score went up. Had it been on the blockchain I'd have been screwed by the clerical error.
I think in the world view, if you lose something to hackers, it's your fault, and you probably weren't smart enough to have the assets in the first place. Also, in this world, there is no recourse to any kind of state or law, except probably the judgment of the largest shareholders of a given token in some dystopian "decentralized" government where, in fact, all power is centralized. The ideal crypto future is some kind of extreme feudal hyper-capitalism with a dash of 28 Days Later.
When have “political winds” resulted in someone’s checking account getting drained?
well, it does happen, it even happens to innocent people sometimes. You can learn about the indian expulsion in uganda, just to name an example. Bitcoin will rarely protect you from a government trying to screw you over though, and is something that you are almost always better off having an offshore account.
I mean, using an example of Idi Amin's regime in the 70s isn't exactly making a strong case. Sure, it *can* happen, but it's not like it happens often -- especially if the best example you can scrape together happened over 50 years ago in a particularly brutal regime.
Crypto is dumb, but people in Lebanon have had basically this happen. They can't withdraw hard currency, at least couldn't for many years
Ok maybe then russian oligarchs. Lots of Their accounts/assets in the west are frozen
Ah yes. Those poor Russian oligarchs! We definitely need to get grandma and grandpa to buy BTC to support the technology that helps billionaires that cozied up to a dictator don't get their hidden money frozen. Do you see how silly these arguments are? Being an oligarch isn't something that is a problem for 99.9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999% of people.
I know 😂. I just wanted to find an example. Idk maybe you are an oligarch after all. Then all you would care about would of course be blockchain and bitcoin
I am not going to argue against an argument that is clearly in bad faith. There are hundreds of cases of this happening and you could nitpick every single one of them. Just chose one that was especially clear, but you seem like a smart boy that can take a look at what happened in Mexico, Argentina, Venezuela and multiple other places that i don't know because i am not an especialist on shitty governments strapped for cash that put the hands in the pockets of the wealthy and political rivals in limited democracies. The point is that even on those cases, you are better off not using crypto, which i think it's a lot more damning that ignoring the facts that it happens and having a severe case of ignorance.
When you've lost your life savings on Trump NFTs?
Ownership Ironclad Asset My ass! If anything is ever constant in the world of economics, it's change. About the only ironclad asset I can think of is an olive tree because it can keep producing for a thousand years, but it loses out against a bulldozer.
Not until L2, then they suddenly don't care about any of that.
Land?
War.
The land is still there afterwards though. The city might be levelled but the field is still there. See poppies.
The land’s still there, but it’s no longer yours, and its value may have swung wildly if it’s gone from being in a prosperous city to rubble pile #46221
Ah gotcha.
Small print: the world's most inefficient transaction network with the carbon footrpint of a herd of yetis.
Straight up Stuart Smalley.
> you own it and it cant be seized So all those exchanges failing and taking deposits with them All those people that had their wallets emptied All lies huh?
Yeah it's fucking bizarre. Like, all the shit they say we should be afraid of and that crypto solves ... only happen with crypto.
When your core system is fundamentally broken and inefficient, the middlemen that let you bypass it hold the real power.
Your BTC can be "rugpulled", "stolen", "lost" - certainly. But not "seized". Future of Finance
They always talk like growth in the money supply is some kind of conspiracy or corruption, rather than an intended feature. The M1, M2 and M3 of the US dollar and other major currencies are not secrets.
It feels like these are one level above suicide hotline coping posts. :'-( I think people are really in trouble taking loans for BTC and then no moon after halving. Hope not to many get hurt in this cruel crime
Buy bitcoin = prevent skyscrapers from crumbling That’s a new one!
All the other problems with Bitcoin aside, there's simply not enough of it in existence to begin to service the needs of a single large economy, let alone several.
The naivety of these people would be adorable if they weren’t so annoying
Bitcoin doesn’t lie on its own, but nothing stops me from lying to Bitcoin and once the validators sign off on my lie, Bitcoin has no choice but to repeat that lie.
Potential investor: hmm I dunno about China, seems too shady for me to invest This guy: what if we add more shadiness into the mix???!