Then they will ask why nobody wants to use their payment cards
-
I think I haven’t explained myself properly. I will admit it seems bitcoin uses more energy in this case. However, we’re comparing Bitcoins entire currency system with that of a processor of fiat. I’m on mobile right now but I would like to see that comparison for arguments sake, bitcoin ecosystem vs fiat ecosystem (including mining, storing and transport of gold)
So does the fiat system then get added to Bitcoin? Since it's only value is it can be exchanged for fiat currency.
-
I do see where you’re coming from for sure. I just think it’s worth noting where it is and where it’s going given it’s managed to grow to 52% in an anti bitcoin world. If bitcoin allows to be “legitimatised” I think those goals are achievable
Bitcoin well never be legitimized it is to volatile.
-
I think I haven’t explained myself properly. I will admit it seems bitcoin uses more energy in this case. However, we’re comparing Bitcoins entire currency system with that of a processor of fiat. I’m on mobile right now but I would like to see that comparison for arguments sake, bitcoin ecosystem vs fiat ecosystem (including mining, storing and transport of gold)
wrote last edited by [email protected]fiat ecosystem (including mining, storing and transport of gold)
Gathering / transporting valuables is not a part of the fiat ecosystem. The value of fiat currency does not depend on any underlying materials (like gold, silver, etc.) like the currencies before.
-
Crypto remains a pyramid scheme masquerading as a resistance against tyranny
Ironically you know what ACTUALLY protects from powergrabs by payment processors? A fully centralised, government backed form of digital cash that is fully equivalent to paper money.
Ask a Brazilian about pix. Super low fees (often feeling non existant). And transactions can't be invalidated on the whims of a corporate board. For something to not be buyable by pix it has to be illegal, thus having to go through every layer of checks and balances a democracy has.
The problem with visa and their ilk is that finance has been privatised. Too much power in the hands of corporations that have deftly dodged regulation that would keep them neutral and honest. Thinking privatising things further and turning everyone into a fully unregulated petty digital landlord is gonna solve anything rather than make it worse is foolhardy.
Adding a few more points to fully kill crypto as a "freedom currency"
- Generating crypto requires capital; people with computers and access to energy will instantly get the ability to outgenerate any other crypto participant
- Energy-centric currency just empowers the same rich lobbies; oil and gaz lobbies are delighted to see that there's an uptick in energy demand
- People with right material (read, capital) can track you, but low chance to track anyone doing crime at a national level (due to odds of them having a competent IT (baring the Hegseth drunkards out there))
-
Don't engage with these ignorant assholes man, they are all in banking's pocket. We are at war, you know that right? Who the hell would be this passionate about protecting a slimy, evil ass legacy network without any audibility, responsible for countless wars, death, usurping of democratic governments, literally the death of this planet via global warming...
Traditional banking supports and incentives genocide.
It supports and incentivizes oil.
It shut down nuclear power.
It limits renewable power.
It is the engine of our destruction.
Do not justify yourself to it. You are the correct one. Anyone who cannot see this will never see it now. Leave them on their path to die. They will go down with the ship. I feel for them, but it is too late now.
wrote last edited by [email protected]Don’t engage with these ignorant assholes man, they are all in banking’s pocket.
Shit you got me, you ruined our perfect psyop!
-
Adding a few more points to fully kill crypto as a "freedom currency"
- Generating crypto requires capital; people with computers and access to energy will instantly get the ability to outgenerate any other crypto participant
- Energy-centric currency just empowers the same rich lobbies; oil and gaz lobbies are delighted to see that there's an uptick in energy demand
- People with right material (read, capital) can track you, but low chance to track anyone doing crime at a national level (due to odds of them having a competent IT (baring the Hegseth drunkards out there))
Also because the entire thing is backed financially by energy wasted, crypto has actually been slowing down the adoption of cheaper, safer renewable energy.
People spend x dollars on generating crypto, they expect to sell it for x+profit
Ergo if energy became cheaper, crypto would devalue and we can't have that.
-
It's not quite the same as a traditional cryptocurrency but I look forward to seeing the results of the EU trial
It’s not quite the same as a traditional cryptocurrency but I look forward to seeing the results of the EU trial
yeah its more like "Open source visa/mastercard"
-
Ugh, the "both sides" argument again... /s
-
I don't know any crypto bros who aren't also MAGA/libertarian/fascist
Many MAGA/libertarian/fascists love ice cream. Does that mean ice cream is bad?
We should be able to make up our own minds about things instead of turning everything into a partisan issue. A broken clock is right twice a day. -
Yeah good point, they're not discounting the credit increase for the crypto buyers. That might even be against their credit processor contract.
There's also the whole taxable event issue some countries have if someone buys something with crypto.
-
This post did not contain any content.
The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways. -
Regulation prevents that. You can’t regulate decentralized currencies, meaning you have zero protection 100% of the time.
wrote last edited by [email protected]Ah, the regulations that judges can just deem not legal? You do understand that checks and balances, right now, are pretty much gone? I'm not for a decentralized currency, I am just against irrationally worshiping centralization with zero concerns. Regulation capitalism is putting a band aid over a gaping wound, the real cure is socialism and socialism isn't regulations, it's a complete and total change of the system. If you think regulation is how we achieve socialism, you are wrong. Money shouldn't even exist, IMO, so I don't really care for the 'centralized' argument of something I fundamentally don't want to exist. Unless you can tell me how centralized banks are going to bring about socialism, I'm not sure what you're arguing in favor of if not capitalism. I'm sure there are ways of achieving gift economies and the like without centralized authorities and the possibility of unchecked executive power.
-
What a bunch of bullshit Bitcoin is not more efficient and gets less efficient the more coins get mined.
Yeah, somebody hasn't refreshed their browser since 2010.
-
Yeah. They do such a good job of stopping nazis and csam.
wrote last edited by [email protected]I trust completely in the central bank to fight fascism. It is necessary. The central bank fights for the laborer, not the capitalist. The central bank fights for freedom, not authoritarianism. The central bank ensures democracy, not an oligarchy. Without a central bank, our entire society would be doomed to fall to fascism. A centralized currency is a major facet between a free society and one with a corrupt dictator surrounded by crooked cronies where the wealthy have all the power and the common man is reduced to crumbs.
The central bank is divine and good.
-
Just wait until somebody proposes an AI powered blockchain…
. Thats darker than anything else. -
This post did not contain any content.
Bitcoin bros are acting like little pushed around victims now?
-
Communism. Start small, connect networks.
wrote last edited by [email protected]Nah man, you have to want fiat currency! Fiat currency is necessary, man! It's the only way for a safe and civil society! You want a gift economy? Who the fuck wants to give away shit haha. If I have money, I can keep my community safe by blasting away people who want to take it. In a gift economy or any other kind of anti-capitalist economy people would be incentivized to care for one another, which is unrealistic. We just have to regulate the people who want to kill over their money in a way that they can only kill for their money in socially acceptable ways like through cops and the criminal justice system. People need to know that money is deadly but we don't need to let them see the blood on the streets. As long as we get to say some people are criminals, people are happy that they got their money in a safe and legal way and followed all the regulations.
-
I honestly never understood how Lemmy, a privacy and decentralisation focused community, is so vehemently anti-crypto. It's worse than genAI. Every time it is mentioned, everyone goes "crypto is a scam". I don't think I've ever seen any good faith discussion around it, just "scam", "pyramid scheme", and "only criminals use it".
Let's get something out of the way immediately: shitcoins are a literal pyramid scheme and a scam. Anyone can make their own cryptocurrency in an evening, and anyone who throws money at them is either a fool or a gambler.
But I really don't understand what people mean when they say Bitcoin, or Ethereum, or Monero are a scam. Sure they can be used to scam you, just like Amazon gift cards can. Maybe it's about the price volatility, but the price of all 3 mentioned before is up on a day, week, month, 6 months, year, and 5 year scale. It's volatile, but is not a scam. If you bought and sold at two random points in time, it's more likely you made a profit than "got scammed".
You know what actually is a scam? Credit scores, overdraft fees, having to pay to check your balance, and so many other fucked up practices in the US banking system."Criminals use them" is just the worst fucking argument, especially in a space like this. Are PGP, VPNs and TOR for criminals too? Do you think getting rid of crypto would stop crime?
And yes, proof of work fucking sucks. The energy consumption of Bitcoin mining is a problem. I am not a cryptobro who spends all his time making trades and is here to tell you that crypto is the salvation. They are far from being "good" for everyday use. I just wanted to point out how it seems that critical thought gets shut down at the sight of those 6 letters, and I hope someone can explain to me what they find so terrible about crypto (aside from environmental concerns and shitcoins)
After a few cycles people start to realize blah blah blah explanation is really just when is the price going up. We've all heard it all by now. It starts feeling like being sold on a timeshare. We aren't new clients to try to sell this topic too
We already know all the explaination and blockchain crap. We know the spiel and sat through it all through multiple cycles. It's at this point like trying to sell a car to a car salesperson using tactics they already know.
So that's the lack of enthusiasm. We are less likely to be new to this.
-
The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways.1 dollar is currently worth .0000084 BTC; or, 840 Satoshi if zeros scare you.
-
Adding a few more points to fully kill crypto as a "freedom currency"
- Generating crypto requires capital; people with computers and access to energy will instantly get the ability to outgenerate any other crypto participant
- Energy-centric currency just empowers the same rich lobbies; oil and gaz lobbies are delighted to see that there's an uptick in energy demand
- People with right material (read, capital) can track you, but low chance to track anyone doing crime at a national level (due to odds of them having a competent IT (baring the Hegseth drunkards out there))
You've done it! You've fully killed Bitcoin! Now it will certainly become irrelevant! In 5 years, the top answer for "what would you do if you had a time machine and went back 5 years?" definitely won't still be "Buy more Bitcoin."
