No, because Karak explained that the cost of making transactions would keep going up, so the longer he HODLd the more people got stuck with cryptocoins that would cost more to get out than they would be worth. So it’s stupid and genious at the same time. A scam.
See, you are just trying to get people show over and over the scam of BTC and crypto. The best part is that you two guys confessed all… Epic.
You would just ruin it faster. But that adds nothing to the discussion of the scam. Also your hypothetical whitepaper would be a total meme.
You type the most ridiculous claims I’ve ever seen in the Eve forums. You should make sure you stay as far away from crypto as possible as you are very much stuck in your poor and disastrous falsehood opinions and beliefs on this matter.
Try actually reading or watching the news properly to give you an idea of what’s factually happening.
If you believe you have the knowledge to build anything just because you read a whitepaper on a topic , you are deluding yourself with a good Dunning-Kruger effect. Always talking about hypothetical cases that could not happen, about theoretical notions that are in plain contradiction with reality, I think you missed your life goal. You should be an economist.
Instead you prefer to promote a scam and attack the person who explain why the scam should not be trusted. What a waste of perfectly usable stupidity.
So obviously neither of you are considering the fact that the BTC satoshi mined is untouched to this date, but Aedaxus still calls him greedy when there is no evidence to support that? I obviously don’t have the knowledge, I said that to show you how differently people think, but I’m probably wasting my time because I don’t think you will grasp this simple concept. It’s okay though.
You’re entitled to your opinion, just know that millions of people worldwide will never agree. I already said it’s fine that both of you think it’s a scam, you having this opinion won’t affect anybody in the world because it’s poorly researched and it is clear you both lack understanding on the matter.
It’s not against the law for this ledger to exist. but your time is wasted here you would be better off writing to the government, tell them what you’re typing here.
Good to hear you are keeping watch over Satoshi’s fortune while claiming transactions are anonymous.
So if I would trust what you and Karak says, your claim is ridiculous. Just the claim. No one knows for certain what BTC is owned by him, it’s estimated around 5%.
Damn right I do. He keeps all those BTC and does not spread it out to the poor people.
Hey, if I would be thinking in such a defeatist way we wouldn’t know about the vile scam that is crypto. Never surrender, never give up and always onward! (That’s a quote from Galaxy Quest).
There are between 700,000 and 1,000,000 active addresses per day. This means there are, likely, 300,000 - 500,000 unique users either sending or receiving Bitcoin per day. #JustSaying
The only reason for all those addresses is to try to make it unclear of who owns it. Except for you I guess Funny how you change opinion every few posts just to disprove anyone… weird, but in a clownish way funny.
LOL. What a defense. Databases aren’t against the GDPR rule either but that doesn’t mean some databases are used in a way it violates those rules.
Smoking isn’t against the law either, right? I like the amount of obfuscation in your posts and how bad it looks when anyone replies to them. So funny.
“I am wrong but other people also are”. So what ? Do you think you are less stupid when competing with other people in stupidity ?
“You disagree with me, so I will claim you personally can’t be right”.
“I can’t prove you wrong, so I will make another argument and pretend you wrote that one”
Funny that it’s always how it ends with BTC fanatics. With them ignoring reality when it does not match their dogma and putting the blame on the people who disagree.
It’s not a claim though, it’s fact, people buy and use BTC today including myself. A claim is described as something where there isn’t any evidence to support it. If you were bothered to take a look at what’s going on in the world you would know this.
This convo is getting weird now, You are clearly ignoring reality yet you want to tell me I am? Let me help you.
1, open google,
2, type: “how many people factually buy and use bitcoin”
3, read the answers to these questions
4, revise your opinion if it doesn’t match what is fact.
There is no blame to be apportioned, if we disagree on any subject then it is only fact that can dictate who is wrong or right. not sure why I need to type this to you.
As I mentioned you are entitled to your opinion, I’m just here to tell you it doesn’t match what’s factually going on.
So? People buy into scams every day. What you claim as a fact doesn’t help your case at all.
The topic is “NFT’s are Fundamentally a MLM-Type Scam Designed to Get You to buy-crypto”
Aaron “Oh man, you are wrong, because people buy and use crypto every day.”
Wow, much distance from reality. Do you often read questions you answer? Or even the topic? Or do you just copy and paste posts from other forums because the latter would be explaining a lot about your off topic posts.
cool, only I don’t have a case, I’m just pointing out what is fact.
You realise this forum is not the only one in existence right? there are other forums you can go to to gain an understanding of crypto. It seems like you want to blame me for the sky being blue.
So, what is your prediction will happen? Is it over now? Will everyone wake up to the truth and Bitcoin will collapse. Or will it fade into insignificance?
It’s funny, I’m pretty sure I know more about Bitcoin than you, yet I’m also convinced I’m much less certain about it’s future than you are. You think you have already figured it out.
I have some clear ideas about what should happen that my believes about Bitcoin are invalidated. Do you?
No velocity is gross product / currency. All it does is measure the how many times a unit of currency is used over a time frame. It does not have anything to do with products sold or prices other than sum total of prices which is the gross product.
you are wrong here but your example is actually correct. You are wrong because you incorrectly attribute the formula to velocity, velocity is a part of the formula for the exact reason it must be considered separately in your example.
By operating under the quantity theory of money one defacto assumes the value of money to be separate from prices since it is literally on opposite sides of the equation. Value of money is derived from supply and demand of the money, increase supply (inflate money supply) and value decreases.
Yes I am aware that central banks only indirectly affect money supply which I actually described in posts earlier.
yes you are correct, if velocity and prices remain constant a 2.5% yearly increase in products sold means that the money supply has deflated, resulting in more valuable currency. This actually causes problems in the economy because it encourages people to not spend (more specifically it causes investors to not invest, normal consumers don’t tend to change spending habits as much) which changes velocity. This is one reason why central banks inflate money supply and thereby devalue the currency, to prevent a “liquidity crunch” which will also affect goods available and prices.
more plainly, the value of money is devalued to incentivize investors to invest their money instead of holding on to it. The investment increases goods available by allowing producers to make more goods with the invested money, this increase in goods then leads to lower prices because prices are also derived from supply (of goods)/demand (of said goods). Now central banks don’t actually want lower prices because that also causes feedback loops which result in economic instability, this is why their mandate is stable prices. However, since prices are the result of supply/demand and demand is increasing due to increasing populations and globalization they must use that same mechanism to increase supply of goods just to maintain stable prices.
They are devaluing the money, by manipulating its supply.
To bring it back, this is why some investors have demand for an asset which is not subject to central banks devaluation. Traditionally this has been assets such as gold or silver. Investors have recently turned to crypto to fill in this function too. Most have not turned out to be a good idea (my first post in this thread I actually stated most crypto is ■■■■■■■■) Bitcoin has, despite a temporary bubble caused by certain actors manipulating it via the media, maintained a stable growth trendline as more people begin to use it. From an economic standpoint it has legitimacy both as a currency and an asset to hold, the longer it maintains this legitimacy the more comfortable people will be in using it causing a positive feedback loop. Fundamentally this is no different than gold or gold based assets.
What has been happening since around 2010 is that it’s been popularized by crime. The future? I do not know I am not that rich or criminal to have the insider knowledge. It’s being politicized in the US… whew, that’ going to keep it going for a while as I assume party donations are preferably kept anonymous although the law clearly states it should not be as the moment the politicians no longer work for the people but for a select group of very rich, those will be served and not the people. Leading to a very bad situation for the people who are living in the U.S.A. .
So, does everyone in El Salvador now use the BTC as a currency? Or the Shivo? Only a small amount of rich people and a few criminals do as they have the privilege. The guy driving 3 hours by bus to get cash from a bank and then buy $1 of vegetables won’t be able to use it as the transaction cost will be too high. At least bus fares are cheap there… I guess.
See, you just claim things unsubstantiated. There are efforts to use BTC in a LEGAL framework and it FAILS MISERABLY. However, it can be used by shady people for shady transactions.
So since Bitcoin is only used by criminals according to you and fiat transitioning to CBDC, which is perfect surveilance that will make crime impossible with fiat…
Does that mean that all the trillions in world wide crime activity currently in fiat will shift to Bitcoin?
That’s the logical conclusion of your (simple) world view, right?
Probably owning 99.99% I’m sure all the victims of the scams still have some satoshi’s left after having to sell at a loss.
Faster surveillance probably, money has serial numbers too, lol. #TheMoreYouKnow…
Crime is easy, just break a law… However, turning crime into a successfull business with low risk, that’s where you’ll have to resort to crypto…
I’m not running a criminal cartel traficking sex slaves, you would know whether it’s profitable enough using crypto schemes.
No, that’s your parody on it, trying to steer the topic away from the actual scam into a parody of cypher crime…
No, I think it’s been hijacked a long time ago, hence why I call you and Aaron “Dudebros” but apparently memes and logic reasoning frequently go over your heads, lol.
So basically, it’s better than fiat, it also lets you buy illegal stuff appart from the regular legal every day things. Basically it’s a superior form of money
Epic.
