The Rise and Fall in Bitcoin Value

Communications Center Out Of Pod Experience
2045

No, it’s the finance system that was abused and had to be more regulated afterwards.
However, BTC “money” is intertwined with BTC “investment” so you can’t dissociate the two. When there is a fatal flaw in one, it also means there is a fatal flaw in the other. This is, by design.
The only way to avoid that would be, as I wrote but you buried your head in the sand again, if BTC was a substitute for fiat. In that case it would not be an investment of fiat.

The fiat system was abused when banks used it to print more money than they were supposed to. Or when they kept investing in speculation rather than production. That’s when the monetary system is regulated. In the case of BTC it’s “whatever happens we don’t care”.

2046

So once a system is abused it becomes a ponzi?

Again, you are the only one in this thread pushing this point, nobody else is. But I guess you have to try your best to make it look like I’m saying that because you have a silly and very poorly researched narrative where you have ignored too much for people to even take you seriously.

You’re trying to talk extensively on BTC and you haven’t even read the white paper, you’d be extremely bad at journalism.

Extensive talking can only be backed by extensive research follow the process and never try to skip steps.

https://nakamotoinstitute.org/bitcoin/

The New Scientist says this in an article about BTC:

What is the purpose of bitcoin? Bitcoin was created as a way for people to send money over the internet . The digital currency was intended to provide an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies.

What is bitcoin and how does it work? | New Scientist.

Hmmm, an alternative payment system huh.

Google Dictionary meaning of Alternative:

  1. (of one or more things) available as another possibility or choice.
  2. relating to activities that depart from or challenge traditional norms.

So please can you stop this silly talk “BTC was meant to replace fiat” once you do we can continue with our convo, If people want a high level of privacy when purchasing from a retailer, BTC (if supported by retailer) might be an option they can use to do a transaction without 3rd party approval.

People would use a cardboard box to scam people if they could, Scammers will use whatever is available to steal and trick money out of people.

2047

To the contrary, the Bitcoin revolution succeeded. China moves in to take over El Salvador from the “Imperialistic West”. Freedom for the people at last!

:smiley:

1 Like
2048

Imagine the infantile dream of any power on earth allowing this.
I guess you also think “free trade agreements” doesn’t limit the actual trade that was done ‘peer to peer’.
Ah, so gullible.

2049

Many people are fine with the current level of privacy with regard to transactions and will therefore not have a need for BTC. From my perspective it is yourself and millions of others who are gullible, too many listened to manipulators when they said “BTC is an investment” and you can get rich from holding and selling it.

Why are people trying to get rich from other peoples desire for privacy? Based on the actual function of BTC it’s really more of a service which should be used in the way I use it, I’m only looking for privacy when I do some of my transactions, I just buy the amount of BTC I need for the transaction and then complete the transaction, The crypto exchange would have made a few pounds when I buy BTC, the BTC network earns money for completing my transaction, and then the exchange makes money again when the retailer sells the BTC back to them.

I have no idea why people have such a massive problem with the proper way to use BTC, and I know that exchanges want people to buy large amounts of BTC so they can profit from people like me who want privacy in transactions.

I’m sorry but it seems you’ve been misled, and you seem stuck on “BTC is only an investment for making profit” you are 100% wrong according to the creator of BTC.

I have a right to privacy, and people like satoshi made it happen for me with his genius invention.

You must understand people like me are humble, I’m not looking to become a millionaire from a service designed to keep details private.

For the first time in my life I purchased a car a couple of years ago which has gone up in price since I purchased it, it’s now worth about £1,600 more than when I purchased. The car is a hybrid. If we analyse further we can understand that the battery in my hybrid is charged from me accelerating and braking, the car seems to generate power on it’s own which society will find extremely useful in these difficult times, there is a saving to be made if one owns a hybrid so anyone owning a hybrid will make sure the price is a current one before selling. I have made a huge saving with this car which is where the higher value comes from.

If we look at BTC, the amount that people desire it may change quickly if privacy laws changed for example where retailers/banks want even more info about you. The desire for privacy will become stronger and if BTC happens to provide that privacy then many may start using it.

Anyone using BTC for ANY other purpose other than remaining private during a transaction may run into serious problems.

My perspective has actually changed somewhat during this thread, I am no longer bothered if BTC is worth £500 each or £100,000 each. at either value I can still use it for private transactions with no problems.

2050

And that purpose fails as people can actually find who you are by sniffing your network. So if someone wants to know who made that transaction, they actually can.

2051

Yes, but even more work is required to achieve this. It certainly isn’t as easy as it would be using the legacy payment system.

2052

Actually, it is easier.

2053

How so?

2054

easier : can be done more easily.

For example, if the infrastructure is already in place to do so.

2055

“a need”. But hey to each their own.

“proper” :smiley: There is no proper ways as it is not regulated.

I’m not stuck on it being an investment. Karak is. I am just saying it is NOT a good/smart/… investment. It’s good to launder money with though.

And this funny guy… :wink:

2056

No, I actually have a right to privacy, anyone infringing upon these rights may be committing a criminal offence where they are open to legal action.

2057

That last one aged so well…

At the same time claiming it was an investment, and at the same time claiming it’s not impacted by other investments…

2058

You’re free to believe that, but it’s purpose is supporting private transactions where a 3rd party isn’t needed.

2059

The state is the one doing it.
And you can’t prove it.

Good luck winning a trial against your state without any evidence.

1 Like
2060

Not the way you think. But i’m sure SBF was thinking exactly the same while believing he could hold the FTX financial situation private… :smiley:

2061

Ah, so you acknowledge that there is an issue with regards to privacy. Perhaps this is why Satoshi created BTC to try and do something about it.

2062

Imagine BTC (blockchain) solving Facebook or TikTok. To the contrary my dear, it would log each and every transaction distributed in a way no one would ever be able to delete any of that information… :smiley:
Every transaction on BTC is public domain. LOL. Literally.

2063

If one is dealing/holding public assets then they do have a responsibility to be transparent, (many exchanges are now being asked to prove they can afford to meet withdrawal obligations), if this doesn’t happen or is refused then we may see many withdraw money from exchanges.

2064

BTC is public asset. Every transaction is logged, good luck in your fight for privacy?!
Man, the stuff Crypto addicts say…