Interesting tweet on BTC.
- Thread starter Eppy99
- Start date
That is one of the dumbest things I've ever seen.
Do expand your thoughts por favor. I mean the kid did go to MIT and by all accounts has an interesting job. I think it’s worth a discussion.
You can't live inside a bitcoin, or grow crops on it. Wealth can't be transferred to cyberspace. Bitcoin is a fancy payments system, nothing more.
I'd respond to his final point, too, but it doesn't even make sense.
Wealth can absolutely be transferred “through” cyberspace.
Goat's wrong. It's not a payment system. Payment systems are merchant accounts, square, PayPal etc. It's currency. The issue is, as far as I can tell, volatility and regulation. Again I'm a neophyte in this shit but if it's "fully" regulated how is it more beneficial or unique to any other form of currency
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I think we may have to consider what decentralized means. Many want it but all what costs?
Not feeling great! But I’m playing the long game so I expect to see the pendulum swing again.
Not to mention that electricity and the servers to house cyberspace are all created by or on (in some shape or form) the 4 items he listed.
E-coiners have enjoyed a fun ride on the Tiger......but the Tiger is hungry...
The savvy riders have been gone for a while now...
Will be fun watching the greedy get rekt...
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anon_6hv78pr714xta
Guest
Regarding the initial tweet, it doesn't make much sense.
If a nation with an army stores wealth inside bitcoin, and that bitcoin is threatened in some way--say a nation steals it using some form of cyberwarfare, or viruses, or destroys it, or inhibits the production of electricity that stores it, etc.--of course that nation is going to protect it using human life.
I mean, look at history. Currency is about 5,000 years old. Does this person think that war post-dates currency?
I'm with Goat, here.
You can run the network anywhere in the world. So, it would be impossible to threaten them, unless you shut down or control over half the network. Also, you can store Bitcoin offline with a 12 seed phrase.
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anon_6hv78pr714xta
Guest
I was just responding to the idea of a foreign nation state threatening the network. They can't because there are tens of thousands of people running the network all around the world. You could run a node yourself and help strengthen the network. As more people adopt the network it gets stronger because it becomes more decentralized. To answer your question, I'm not sure how it differs from cc, e-banking, and etc.
Yes, in some places. A lot of people use the lightening network. I personally wouldn't use Bitcoin for daily transactions. It's more of a savings account.
