Why didnt u sell on top? 📉

Communications Center Out Of Pod Experience
1029

You own a key that allows you to move some specific data about if the decentralised system continues to exist

that’s called owning bitcoin

an example of a cyber attackstress on a major bank resulting in nobody being paid back for any losses?

Sberbank of USSR, a major world superpower.

If the developers make a change to do exactly that and are not challenged by a significant portion of node operators and miners, then they can do it

too many "if"s

we trust that governments and national banks have a vested interested in keeping it running

that is not a matter of trust, that’s inherent assumption of any political system. just like it’s inherent assumption of bitcoin that all parties have vested interest in keeping bitcoin running and keeping each other in check. the difference between bitcoin and government is that bitcoin is transparent and keeping everybody in check is trivial, the governments, unless pressured by the public, constantly obfuscate everything because they consist of individuals many of whom are in the government to enrich themselves.

too much intellectual dishonesty and double standards.

1 Like
1030

If something goes wrong, you cant undo it.

correct. which is why i keep repeating - bitcoin gives you more control and requires more responsibility and competence.

There is many things that can happen, with different degrees of inconvenience or even loss of value or even everything that was in wallet.

already happened. bitcoin getting only stronger. i can’t wait for the next crash in price so that everybody who got in chasing a wave of hype take their losses and get out, leaving only people who actually understand what bitcoin is about.

but we were talking about algorithms - humans are significantly worse to follow algorithms than computers are, so bitcoin being controlled by math and computers, not humans, only gives me confidence.

1031

Well, it truly sounds like its all about speculation.

1032

too many people are in it for speculation, that’s for sure.

1034

where is your proof

google about hyperinflation

but it’s not actual ownership

just your opinion

move to “stress”

you’re the one that moved from stress to cryber attack

a bank that didn’t offer a promise of reimbursement in the first place

they still promise and people are still hoping

Across crypto

irrelevant to bitcoin

because bitcoin elitism will really help with widespread adoption

irrelevant to the point i made

parroting the nonsense “it’s secured by math and power!” as if that means something

it is, i did my best to explain it to you, not my problem you can’t understand it

If the value of bitcoin were actually stable enough to make it usable as an alternative currency, most of its supporters would no longer be interested in it because it wouldn’t earn them money for doing nothing.

volatility is going down year after year: (3.51%) Bitcoin Volatility Index - Charts vs Dollar & More. i look forward to the day all the speculations switch to something else.

1 Like
1036

in a handful of predominantly third world economies, hyperinflation has taken place

well finally we’re getting somewhere

doesn’t demonstrate your claims that in major economies the government will just run around torpedoing people’s balances on a whim

USSR not major enough economy for you? China not major enough economy for you?

Nope, it’s a fact

nope, it’s just your opinion. me owning a key means i have full control and full ownership of bitcoins protected by that key.

Everything you disagree with but can’t counter is suddenly “irrelevant”.

no, only things that are irrelevant to the points i make.

I do understand the actual tech

you really do not.

But it’s still highly volatile

did anybody say it’s not? quit making ■■■■ up and try addressing actual points i make, you’re delusional.

The day that all speculators move to something else is the day bitcoin dies.

speculation

vast majority of bitcoin is held by ultra-rich investors speculating on value

speculation

It’s widely understood that bitcoin will never take off as an actual financial alternative because it’s too flawed to be used in any meaningful way and will never achieve mass adoption.

speculation

do you have anything other than speculation?

1038

provide any proof that either of those countries even suffer from the wild claims you’ve made

ah yes, no true scottsman! as long as people didn’t lose money in this very specific way that only i am allowed to describe, it doesn’t count!

pointed to a dodgy soviet bank that never offered guarantees for deposits in the 90s

lol this is how clueless you are. sberbank was literally the only and the largest bank that dealt with credits and deposits in the USSR.

Most major economies have legally binding banking laws that guarantee deposits

and none of it matters when there’s sufficiently bad financial crisis because either government bankrupts or prints money - in both cases depositors are ■■■■■■.

No, it’s really not my opinion

yes, it really is just your opinion.

You own an access key, you do not own a digital asset

ownership of that particular digital asset is defined by who owns the key.

Surely everything must be irrelevant then because so far you’ve failed to make any serious points

not my problem you can’t understand a valid explanation and try to respond with irrelevant nonsense. in this case it was me saying “i’d love speculators to lose money on bitcoin” and you responding with “bitcoin elitism will really help with widespread adoption”. literally irrelevant.

Just because you’ve read some propaganda doesn’t mean you actually understand the tech.

i can explain how bitcoin works in details, you only have a passing understanding of it, skewed by false judgement that it’s a ponzi scheme. if you were able to look at it objectively - you’d probably understood it better.

like, really, you’re clueless enough to say lightning network introduced vulnerabilities into bitcoin when lightning network is a completely separate project that doesn’t even operate on the same level. and after asking you to provide an example vulnerability like a dozen times - you failed to do so.

your prejudice is hurting your ability to understand things.

You just declare anything you disagree with a speculation

only statements about future that you have no ability to prove - literally speculation.

1040

Freaking hope so. Less miners means more GPUs for the rest of us.

Not even counting the prices, I can hardly find any in stock.

1041

my fiat is less safe than your bitcoin and that national deposit insurance schemes regularly fail

it is and they do and i provided an example. you want to reject the example on ground of some technicality like “no deposit insurance scheme in place” when it’s literally bank’s job to ensure their customers’ assets are safe - feel free, but that doesn’t change my mind. banks fail all the time, regulatory schemes fail all the time, people get burned all the time. not a single person holding bitcoin got burned by mistakes of third party.

you’re yet to show ANY examples of this happening in any major economy

i did.

you think you do own a digital asset even though the law in most countries does not allow for legal ownership of digital assets

laws that don’t exist don’t change the objective fact of my ownership of bitcoin via ownership of keys. you may dislike this fact but that doesn’t make your opinion valid.

So far all you’ve done is scream the usual crypto fanatic propaganda

that you don’t understand explanations i provide is not my problem.

If you are an elitist and only think true believers should be allowed to take part

except this is not even remotely what i said, which is why your statement is irrelevant.

You’ve made it fairly clear you have limited technical knowledge, I seriously doubt you even work in tech

i have the same opinion of you.

So you think you’re the one being objective here?

yep.

I am able to be objective because I don’t hold any strong opinions on it.

lots of strong false opinions.

Again though, I didn’t say that

you: all it’s really managed to do is add a whole bunch of vulnerabilities.

me: which vulnerabilities did lightning add to bitcoin?

you: A whole load.

1042

nobody is mining bitcoin on GPU for almost a decade now.

1044

Your example was supposed to support your claim that the insurance schemes fail under stress

financial systems fail under stress, i’ve demonstrated it. no insurance scheme would have helped in that scenario. if you think it would - you’re delusional.

broad statement with zero evidence

you really are incapable of acknowledging that you’re full of ■■■■

you hold no legal ownership of digital assets, you only own the key

holding the key = holding that digital assets, doesn’t matter that you don’t like this fact.

I’ve stated objective facts backed by evidence while you’ve just screeched crypto cultist propaganda and declared that software you like is infallible

I’ve stated objective facts backed by evidence while you’ve just screeched government cultist propaganda and declared that conventional financial systems you like are infallible

Anyone willing to read up will know that’s not the case though

you: all it’s really managed to do is add a whole bunch of vulnerabilities.

me: which vulnerabilities did lightning add to bitcoin?

you: A whole load.

Lucas (hysterically): i did not write those words!!!11

the narrator (calmly): he did write those words - Why didnt u sell on top? 📉 - #892

1046

pure speculation that an insurance scheme wouldn’t have helped

how does insurance scheme save you when insurance company no longer exists because financial system no longer exists and government no longer exists?

some banks failed, which I have not in any way disputed

and everybody who had more than some amount of money in those banks had their assets vanish. do we agree on that?

currency is secured by national banks so that customers do not lose their money when a bank fails

and governments gets that money from:

a) taxes: not only some of your assets vanish, you’re also paying for other people’s vanished assets

b) printing new money: all the assets you have left become less valuable

Bitcoin was affected globally by a power cut in one country

not affected at all.

It’s not though. You are wrong.

well that’s just your opinion. as far as i’m concerned - while i’m in control of my keys i own those bitcoin. all you can do is squirm about legal definition of ownership which i don’t care about.

No, you really haven’t.

yes i have, your inability to understand those facts is not of my concern.

Even in the linked quote at no point did I say that the vulnerabilities were added to bitcoin core.

it’s amusing how hard you’re trying to weasel out of your own words:

you: all it’s really managed to do is add a whole bunch of vulnerabilities.

me: which vulnerabilities did lightning add to bitcoin?

you: A whole load.

not only did i not ask you about “bitcoin core”, i asked about “bitcoin”, but also you wouldn’t be able to list any vulnerabilities lightning added to bitcoin core either. weasel some more, it’s very amusing :smiley:

1048

This debate is getting nowhere. Let’s make this fun. All the pro-bitcoin guys should say what they think the price of bitcoin will stabilize at.

I know this is difficult because the cryptocurrency assumption is that all fiat currencies will become worthless. So lets put it in terms of the buying power of today’s dollar: $5 for a big mac.

1050

would you ask such question about gold? with most of fiat being in perpetual inflation, there is no limit to how much gold will reach and there’s no reason it should stabilize at any price point. the question is only when.

1051

Gold is almost as much of a joke as bitcoin, but alas, nobody is laughing.

1055

Patently untrue. All the ways the world is trying to deal with the graphics card shortage and why they won't work | PC Gamer

1057

if you search for bitcoin in that article you will find nothing.

1059

They don’t mention any cryptocurrency by name. Moot point.

1060

sigh… i guess keep believing false things, all i can do is provide accurate information.

1061

A “tough inflationary crisis” is not the same as your claim that the government will arbitrarily zero bank account balances. The latter is a total breakdown of law and order, likely resulting in complete social and economic collapse. And in that scenario you are in fact talking about the post-apocalyptic wasteland where bitcoin will have no value.

you haven’t demonstrated any trust in third party required to use bitcoin. trust in tools and your competence is irrelevant to this question.

Oh look, the bitcoin fanboy doesn’t understand that trusting tools means trusting the people who made them.