It’s not obvious, it’s wrong.
The ledger is the record of all transactions acknowledged. It is immutable when it can’t ever be modified.
Adding entries to it is a modification. BTC allows to add transaction entries, therefore it’s not immutable.
So claiming the ledger is immutable is obviously wrong.
Before making personal attacks, try to read and understand.
You only know what you think, it’s not based on anything factual.
You completely ignored the fact 3 reputable companies accept BTC as means of payment. Why aren’t you outraged that this has happened? Obviously you know more than professionals at these 3 companies.
You first, accept the reality 3 massive companies accept it as payment right now. This makes much of what you have said complete and utter nonsense. I know you have absolutely no reply for this point, you are not smarter than anyone else. You’ve provided no evidence or referred to any facts to support the rubbish you are talking.
There was a lot of manipulation, lies, lack of ethics, that is obvious without any psychoanalysis or math.
This is common to all fraudsters, they dont have to be competent in matter that is used for fraud, because its scheme that works with majority of humans, playing on emotions using lies, not any logic.
Basically when you transmit a bank operation, you can still cancel it. The delay depends on the banks involved.
But then if it’s a fraud, then you can make the receiving bank make a reject operation. The thing is, since it’s regulated you can legally have them produce a reject operation. the bank is paying you back (actually your bank, which also make a transaction towards you), not the frauder.
While in BTC, you can’t force the frauder to send you the money back.
Because frauds that use people naivety, instead of technology, are so common, anything that holds value is not safe in any case. Only the way to get back resources stolen and trace the suspect are important, use must be regulated. Punishment must be inevitable.
That includes all crypto.
Sorry, I think you’re completely deluded and you try too hard to ignore facts. Many of these companies are doing extensive works and emplying a few different systems and plan to accept many different crypto coins, not just BTC.
But you’d never know any of this because you’re always right, so right infact that you don’t even need to bother reading factual articles.
You never read the link, What’s written in the article is right.
Well okay, I’m unsure who you are trying to convince that BTC is a ponzi, but I will leave you to ignore a lot. good luck.
Not at all, I’ve been using BTC for transactions for a number of years already, It benefits me, I am happy and would consider using BTC and the many types of Crypto some retailers now accept if I can find a way to mine it using my GPU’s.
Perhaps you should write a letter to all of the companies who accept crypto and inform them they are doing fraud and are part of a ponzi scheme.
Copied from the link you never read;
Overstock is currently leading the way in the shopping and cryptocurrency field. Overstock goes as far to accept multiple kinds of cryptocurrency, not just bitcoins.
Not only is Overstock accepting bitcoin but they are holding it too! Theses are the types of vendors that serve the bitcoin community in the best possible way! They are clearly in it for the long haul and not simply using Bitcoin as a marketing ploy.
Just make sure to choose Bitcoin as your payment method during the checkout process. Here is what that will look like:
More copying;
What is Overstock? Overstock is a tech-driven online retailer located near Salt Lake City in the shadow of the Wasatch Mountains . Since our beginnings in 1999, Overstock has evolved from a fledging startup to a billion-dollar online retailer as a result of a hard-working and creative team.
So I’m supposed to accept that this company has employed a ponzi scheme and scam as a payment system? Don’t make me laugh, you’re being silly.
Possible for certain countries. Where I live it already got regulated years ago and transacting with an unknown wallet is perfectly fine. That regulation is the reason why most crypto companies are settling down here, because they have regulatory clarity and can innovate. Not all countries see this technology as a threat.
In the end countries who ban themselves from this technology and open networks will suffer the consequences when their financial industry is stuck in the last century.
There was never a neutral global currency without central issuer with a fixed monetary policy that can be moved at the speed of light. This can not be achieved with conventional technology and the energy consumption is justified for what it creates.
The reality is that Bitcoin will simply remove the power of certain global actors to weaponize the monetary system for sanctions. Tough luck
We are currently tumbling into a situation where the world is split more than ever, none of the actor will want to give the other side the power over the money printer. Bitcoin as the only neutral option will be the natural choice for international trade. Countries may be able to enforce CBDC within their borders, but not outside.
Actually that is just wishful thinking, as soon as the money is outside your countries borders it’s pretty much gone. Even inside your country they will most likely not be able to do something about it.
Popular recent example: https://www.youtube.com/watch?v=PBXpjY_uLtw
It’s an important feature of the base layer that it can’t be reverted. Even if a bank reverses a transaction they have to go trough a mess in meat space and identify and probably legally compel the entity that holds the money now to send it back. They can’t just delete or revert just the ledger entry on their end.
But no one said that every normi should actually use the base layer. Bitcoin is built in layers, and the blockchain is just the first of it, basically the physical layer to allocate money. Then on top of that is the transactional layer Lightning, and there are more getting added, like fedimint, which is community custody and probably the first layer where regular users would use it in a global scenario. There you can for example recover lost keys.
And I think you are just butthurt. I’m pretty open to change my mind, it’s just that your arguments are not at all convincing or even original until now. It’s pretty obvious that you have only a very superficial understanding of the technology and are just repeating standard anti-Bitcoin talking points.
Facts are proven and one should be able to provide evidence easily if they are quoting a fact. Feel free to show me evidence where I can believe it beyond reasonable doubt.
Maybe. But these “talking points” are also what some people call “common sense.” If Bitcoin fails, it won’t be because the distributed ledger model failed, it will be because of a lot of external, unpredictable external like volatility, speculation, and avaricious governments.
Yeah I don’t think so, and I have already addressed this points multiple times over this thread, mostly without getting any actual responses to my answers. Usually it’s just followed up by more of the same anti-Bitcoin talking points because people don’t actually seek a honest discussion about this things.
Switzerland. FATF are just suggestions that so far have shown no result and just produced a ton of friction and cost for the legacy financial system. It’s probably also completely undermining the rights to privacy and the presumption of innocence. I’m pretty sure they will cause problems, and I’m pretty sure it’s FATF that will be cut and not Bitcoin.
Yeah, crypto is mostly trash. Bitcoin is the invention and it’s indeed the future, as well as things that build on it.
They can still do that, just not by weaponizing the monetary system. You know, the “good side” in the current conflict with the trigger on the monetary system is lead by a country that constantly conducts war crimes by droning civilians and throw foreign journalists into a dungeon that expose them. This isn’t always a simple good vs. bad situation. Sometimes it’s pretty bad vs. worse and I don’t want anyone of them to hold that power.
Unless a single country has 51% of all miners under their control and actively starts to censor transactions that isn’t a concern. In fact, the ideal energy for mining is curtailed renewable energy, which is distributed all over the globe.
I did not say that. But China may not take the dollar anymore and try to force them to use their currency for international trade. With both sides not wanting to give the other side the power, a neutral solution becomes very attractive.
As long as everyone does that it makes the network even stronger. lol
Yeah blockchain are only useful for decentralized global consensus and finding that consensus is cumbersome. If you don’t have that requirement you are better off with centralized databases.
That’s also the case why most crypto projects are probably complete ■■■■■■■■. It has a use case for Bitcoins base layer, but apart from that it’s probably useless.
Yeah, strong property rights come with it’s new set of problems. I think we will manage to find ways how to deal with that.
Yeah, blockchains are very limited and have serious drawbacks, and they can’t produce a global monetary network on their own. They can however build a strongly decentralized global digital bearer asset we can then utilize further with things like Lightning.
Even the legacy financial system has separated transaction and settlement layers
Yeah that is my assumption, I think I mentioned multiple times in this thread that I could be wrong and this is just an informed guess. I don’t think I have seen you make the same concession.
If I didn’t want to listen to any opposing views I would not talk to you.
There’s that “BTC is only an investment” again
Show me the evidence that BTC is a scam and ponzi then.
No I’m definitely not suggesting that