That party is taking that bitcoin and exchanges it with small profit for them I assume. Their exchange rates must take it into account.
This profit would of course be measured in fiat.
Paying with bitcoin is worse than paying with fiat then. You need to cover the exchange rates and paying more.
So, I donât care about bitcoin, but being a bitcoin middleman sounds pretty lucrative. How do I do that?
Unsustainable for who?
Buy over priced stock in Coionbase (COIN) went public this week. Or anyone of their other numerous and counting competitors.
Economies are not governments, donât equate the two.
The rest of your statement focuses on government, the folks with most of the guns and most of the power, where the majority of corruption resides. Yeah, for them it was unsustainable. No corruption here, nope, move along.
Their abuse of power is why so many believe in BitCoin and crypto.
Wrong. Economies are maintained by those who produce/service and those who consume those products/services. An economy does not require the existence of a government. A government does require the existence of an economy.
Your cart is in front of your horse.
I rest my case.
An economy does not require a government. Governmentâs can only meddle in an economy, they canât create one, their track record on âmaintainingâ is questionable at best. If government vanished tomorrow, an economy would still exist the day after. If governments stopped meddling and attempting to âmaintainâ, economic activity would still continue.
Seems like you are one of those âgrrrr freedomâ types. Go oppress elsewhere.
It is 100% reasonable to equate banning bitcoin with Nazi policies. No hyperbole there at all.
And yes, I concede that you will be able to exchange worthless bitcoin with the one other person who is also a fanatical libertarian. Iâm not sure what the point of those transactions would be, but you could certainly execute that code and make the numbers happen. Iâm also not sure why you think this convoluted barter system would be anything remotely resembling a functioning economy, but I guess thatâs one of those weird libertarian things that nobody outside the cult will ever understand.
Strawman much? Shesh
I think flood and loot attacks are the ones the developers are still trying to fully counter at the moment.
please link actual CVEs
Itâs a single aspect of security though
yes, but itâs an aspect. your previous position was that thereâs nothing valuable as result of all that âenergy wasteâ. security is that valuable thing.
But thatâs not the only security needed. For a start, bitcoin boils you down to single factor authentication. If someone has your private key/recovery words, they own your account, no questions asked.
sure, thereâs lots of aspects of security and bitcoin provides way more of it than any other asset. youâre completely wrong about single factor, multisig and scripts allow for as many authentication factors as you like.
banksâŚ
banks provide a certain set of services in context of a particular financial system. bitcoin is not there to replace banks, itâs there to provide an alternative financial system. there can be banks built on top of bitcoin providing people services that they may or may not find useful. bitcoin is about more options.
One bump on the head and youâre poor
with great power comes great responsibility!
by having a currency the country canât control it make s it more likely that a major economic even will cause widespread collapse, because the country canât adjust the economy to spread the damag
which is why bitcoin is never going to replace fiat currencies. where do people get this idea from?
Only because you insist on absurdly literal definitions where two people (both of them fanatical libertarians committed to using bitcoin even if it has no practical purpose) exchanging bitcoins (which have lost 99.999999999% of their current value) counts as still being able to use your bitcoin. I can barter a loaf of bread for something but that doesnât make bread currency.
nobody can stop me spending my bitcoin
Only if you count it as âbeing able to spend your bitcoinâ if a single person in the entire world is willing to accept it. Normal people count it as âunable to spendâ if none of the stores they buy from in everyday life will accept it.
i can carry all my bitcoin wherever i go by simply memorizing 12 words
I can do the same with real currency, except my money is secured by various fraud protection guarantees so that if I lose my 12 words (or someone is able to steal them) I donât lose anything.
you couldnât find a better way to cope with it but to suggest your opponent is a child abuser.
I did no such thing. What I did was (very accurately) point out that the âillegitimate businessesâ that will remain after a bitcoin ban will mostly be child abusers, drug dealers, and similar criminals. So if you claim that you will use your bitcoin with âillegitimate businessesâ following a bitcoin ban those are the people youâre talking about.
Oh there are various such things.
There are various classic lending possibilities who net around 2-6% interest in the coin you are lending. Or various completely decentralized forms of lending where you usually provide liquidity to a smart contract.
For example decentralized exchanges need liquidity to make trades happen. You provide it in form of a pair. There obviously huge risks here, but also very nice interest rates. I have some coins in pools that pay up to 200% in anual interest.
Even for bitcoin, the obvious one is that you can just build a well connected lightning node with a lot of liquidity that routes payments in the network. This is comoletely trustless all under your controll, you earn routing fees. Then there is lightning pool, where you have a completely trustless broker to lend bitcoin for channel liquidity. This is very new, I did not try it yet, but i suspect this will yield some nice percentages if lightning has more and more traffic.
And I mean this is just the start. There are a lot of things happening here. And it will include gaming.
For example there will be games where some of your assets are NFTs, so you own them and can actually sell them. But you could also just lend them (depending on the item obviously if this makes sense) and earn interest in some form, maybe a currency that is used in a game. I know, this sounds completely strange, but this will be normal in a couple of years.
I can do the same with real currency
no, knowing your bitcoin seed is categorically different to knowing login and password to your bank. do you even understand what trusting third party means?
Iâm sure the drug dealers and child abusers will be happy to receive your patronage.
canât even own up to it. pathetic.
It wonât. Sure, some F2P shovelware developers will put out some âgamesâ to cash in on the new buzzword but the reality is that NFTs add nothing to a game and the whole thing will die off without ever making any impact.
Do you understand what âlegal guaranteesâ means? I donât have to trust the bank I keep my money in because the federal government protects my assets, and if the US government collapses weâre all living in a dystopia where bitcoin wonât be useful for anything either.
You, on the other hand, have to put more trust in third parties. If a third party successfully exploits your trust you instantly lose all of your bitcoin and thereâs nothing you can do to stop it. You have to maintain 100% perfect security because a single lapse is fatal.
So yeah, I think I prefer my trust to yours.
Youâre the one who said youâd patronize âillegitimate businessesâ if legitimate businesses stopped using bitcoin because of a ban. Itâs not my fault that youâre in denial about what those people actually are.
Told you itâs completely useless to talk to Merin. She is just some try hard forum warrior who tries to to write whatever she thinks riles you up the most, no matter if it has any foundation in reality. You will not get a honest discussion that benefits anyone. Same with Lucas.
Also filthy no-coiners are just really mad right now watching from the sidelines how everyone holding that environment destroying, worthless, darknet money gets rich af, while their dollares bags lose value the whole time 
So maybe we should just show them some compassion in their dire situation
Bold words from the libertarian cultist who parrots empty buzzwords without understanding the underlying technology or system issues.
rich af
Have fun getting poor af if you donât time your sales properly before the crash happens. But go ahead and admit that youâre a useless fanboy troll by reducing every argument against bitcoin to simple envy.
I donât have to trust the bank I keep my money in because the federal government protects my assets
great, some % of your assets will be returned in case of bank collapse, of course only if there isnât also a government crisis and by the time you get those money back they arenât worthless. keep being delusional and claiming that doesnât happen.
and i donât need to have faith neither in a bank nor in a government that my assets will not disappear and i will always have access to them. keep squirming trying to dance around this simple fact.
If a third party successfully exploits your trust you instantly lose all of your bitcoin
yes, bitcoin comes with greater responsibility. that is completely irrelevant to the question of whether i need to ask permission of my bank and my government to spend my money.
you do that every time you make a payment in traditional system.
Youâre the one who said youâd patronize âillegitimate businessesâ if legitimate businesses stopped using bitcoin because of a ban.
yeah, FOR THINGS THAT WERE LEGAL PRIOR TO THE BAN.
only a real piece of â â â â would instantly start accusing somebody of being child abuser. thatâs the only thing youâve proven beyond any doubt in this discussion.
Actually boggles my mind people get away with unfounded accusations in child abuse on this forum. What on earthâŚ
Report here. Iâm pretty sure that is not ok