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rkbabang

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  1. I think a lot of the big fish criminals do keep proceeds in bitcoin as an investment, but I will admit that I can't back that up at all because I don't know how to trace BTC. I'm sure that criminals and criminal organizations which invest have diversified portfolios including crypto, stocks, bonds, cash, real estate, etc. I never hear anyone say "Criminals often use the US Dollar, we should get rid of the USD for that reason". I'm sure even in 2022 the USD is used in crime far far more often than crypto.
  2. The only thing she gets wrong is the timeframe. I'd be very surprised if it was $1M by 2030, but also very surprised if it wasn't $1M by 2045.
  3. I’ve only ever used Coinbase, I buy and withdraw the BTC. I never leave it in there. I haven’t looked into any of the others. Edit: I just looked, I have about $800 worth in there now. That wouldn’t be life altering if I lost that. When it gets to a few $K I withdraw it.
  4. My average cost basis in the BTC I still own is about $5K. I’ve been buying small amounts every time the price drops since dropped under $25K and will continue to do so. If it goes under $10K I might significantly increase my holdings.
  5. I think long term the centralized exchanges will get more regulated, better capitalized, more professionally run, less scammy. And the decentralized exchange methods will become easier to use and more people will use them. In the short term there is going to be more instability and uncertainty, you will see more people calling it rat poison and more promoters as well, all of which will create opportunities for the patient.
  6. It is definitely is going to take some time to shake out and there are probably more shoes left to drop. When the magazine covers go from "Is this the end of crypto?" to "The death of crypto!", we know we're close. I don't expect Bitcoin to go up much from here (if any) until well after the next halving. And it could easily drop another 40-50%. As far as shitcoins go, there aren't many coins that I wouldn't be surprised to see drop another 90+% and many will never recover.
  7. LOL. I'm glad you didn't engage in hate speech against the religion of peace which wants her head. Literally.
  8. Thanks for sharing wise words from the great Library of Xerxes.
  9. Does it really matter where something was invented or by who? I was talking about the major build out to get it to the everyday consumer you are talking about who first developed it. Would it make a difference in our lives today if the lightbulb was invented by a government agency rather than Edison? Whether something is decentralized has nothing to do with who invented it. For all we know Satashi could be a front for a group within the NSA. It doesn't matter now because it exists. Most enthusiasts long for the day when we can walk into any store and purchase something with Bitcoin. That day will come. One step at a time.
  10. You are conflating so many different topics/concepts in this post it is hard to even respond to it. The backbone of the internet was largely created by private companies with some government funding. Spectrum is for wireless only and regulated by the US government in the US. You can go get yourself a domain name, set up a website and no one will regulate what you put on it. Websites are run by private companies, individuals, educational institutions, governments and everything else you can think of. Crypto exists on that same internet. FTX was a centralized exchange as was every exchange failure since Mt. Gox. Centralized exchange failures happen and will continue to happen.
  11. Sold! (digital copy only, as I already threw out the physical one). 1PhFJLCgZcpGxfVijQQCFdf7GMt3JDJjEp
  12. That’s another thing that makes Bitcoin far superior to gold. I wouldn’t trust a gold bar from some stranger on the street, but if he pays me in Bitcoin I immediately know that it is genuine and I don’t need to trust him. You can fake gold, you can counterfeit dollars or pesos, but when the BTC hits your wallet you know it is real whether or not you trust the person who sent it to you.
  13. That's a long way off, quantum computing is a lot like nuclear fusion, it is always 10-20 years away. There are quantum hardened algorithms Bitcoin could hard-fork to well before this becomes an issue. The average Joe isn't going to change until well after the institutions do. Go offer the average Joe a choice between an oz of gold or $20 and you'd be surprised what the answer will be. If their friends and neighbors all start using it, they will as well.
  14. No not just scarcity alone. I just drew a happy face on a piece of paper at my desk. It is a scarce commodity, as only one such drawing exists in the world, but I don't think it is very valuable. Bitcoin has been cloned probably thousands of times and even though they all have the same or similar code they are not as valuable as Bitcoin. Why? I will say what I said a few messages above: "whether it has been colorful shells from far away or rare shiny metals, the free market has always used the hardest thing to create, find, or duplicate as money, as long as it was also easily transported, divided, and fungible. That was gold for centuries, but right now on planet Earth it is Bitcoin." You can create another crypto, even one exactly like Bitcoin, but anyone with 51% more computing power than you can destroy it. Bitcoin is secure like nothing else is right now. And that is what makes it valuable. Yes. This is happening, but it won't be overnight. People are comparing Bitcoin, which is ~15 years old, to gold which has been in use for thousands of years. Expecting Bitcoin to take over the world overnight isn't realistic. This will be a many decades long project.
  15. I disagree with that part in the way that I think he meant it. There is a certain viewpoint that thinks money needs to be valuable for uses other than as money. I think having the properties which make something useful to use as money is a value in and of itself. Being good money is valuable without any other uses necessary. Money is the use. Bitcoin has been designed to have every quality a good money should have and it is extremely difficult to counterfeit . It's valuable because of the properties which would make it useful as money. It's funny that people think money should also do other things. No one looks at a car and says "Sure it can take you from point A to point B, but what else can it do? Can you wear it like jewelry"?
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