its easy to say USD if its Europe that s having civil war.

yes, it's easy to say and it's easy wrong
I'm in Europe.

Don't assume everybody idolises the american dollar as you crypto people do



Instead of talking about countries that you don't know, talk about what you know.
Talk about your country.
I'm asking you for the 2nd time EC
if you find yourself in a civil war where you live what would you like to have, BTC, US banknotes or gold coins?

Great posts everybody


............................



So, I feel confident in saying that the adoption of BTC as everyday money - 15 years after its launch - is basically zero.
Where I live, if my only money were BTC I'd starve.
Or have a very limited, exotic diet 

As an investment, BTC has been a success story.
As a currency, a failure.


I'm a fan of good money, money which doesn't lose purchasing power.
I'm a fan of p2p - which means privacy, not secrecy.
BTC was hope.


Imo BTC has failed as currency because of its volatility.
Think of a business - a dentist, barber, taxi driver, shoe seller - having on average a 3-5% profit out of each transaction.
Accepting BTC he could lose - given BTC volatility - all of that within 1 day.
Nobody likes to work for nothing.
Why take the risk.
Why accept BTC and then be forced to convert it as quick as possible in a stable currency.

P.S. On the one hand, it is quite right to show users who are under sanctions.  But on the other hand, is this about decentralization?

So you are saying that it's right for Tether to act as an agency of the US government.
You say it's right for an international currency issued by a private company - which isn't even a US company - to serve the interests of one single government and of one single country (the most powerful one).

The international crypto community ass-liking the US government and their USD



But you care about decentralisation
Using an international cryptocurrency as an instrument of US gov politics is ok,
centralization/decentralization, that's the big issue for you

So between coin A that doesn't serve the interests of any specific country and coin B that does, B is better as long as it's more decentralised than A

Between coin A that helps people to overcome the problem of the devaluation of their national currency and coin B that is used to enslave and tyrannise,
crypto people prefer B because... hey, it's decentralised!
and anonymous!
no KYC!
Cool!

Everybody wants to pay taxes.

Sure, I can't wait
Here in the neighbourhood every year when we finally can wire transfer the money to the tax agency people are so happy they make a huge party

Quote from: Peter90 on April 29, 2024, 11:30:45 AM

Maybe they are aware of the correlation between BTC and Nasdaq,
and fear a Nasdaq crash

If you have more data about the correlation between BTC and US stocks, please provide it. Many say there is a correlation, but I do not see it.

You must admit, BTC's moves correlate with Nasdaq's moves
When one goes up the other goes up
one goes down the other goes down.
BTC is no hedge vs Nasdaq crash






... and now, comparing logarithmic BTC and Nasdaq charts, apparently it looks like this ...

if we are in this kind of situation where the electricity is still on like its normal situation still and internet is accessible, wouldn't it make sense for the warlords to accept BTC and other crypto?

How many businesses accept BTC in your city?
Where I live, basically none.
Zero.

I opened a thread about this fact
What Happened To Bitcoin?
BTC as a currency has been a complete failure.


So why should people during a civil war accept a currency they can't use in order to buy goods and services?
During a war you aren't interested in increasing your wealth. When food and shelter can anytime become a problem you are not interested in making money.
When your life is at stake you don't care about investing strategies.


There are many warlike situations going on in the world: clashes between ethnic groups... between religious or political factions... civil unrests... state vs. criminals (e.g. narcos)...
Wouldn't it make sense for the warlords to accept BTC and other crypto?
No because in those situations you need a currency which everybody accepts.
This applies to warlords too.
That's why the current usage of BTC and cryptos in those situations is basically zero.

At first taxation system was introduced with the purpose of doing good for the people who are poorer by collecting the money from the people who have money that can't be spent in their entire life time.

At first taxation system was introduced within the Gold Standard, when governments couldn't produce money at will.
Today governments produce money at will so there is no point for taxation.
President Nayib is right.




Taxation is the same as gov selling bonds to the people in order to borrow money:
Why does the government need to borrow money from the people if they (gov) can create it (money) themselves?


They asked this question to the Chairman of the Council of Economic Advisors of the President of the USA.
He couldn't answer.
The video is going viral on X, and is so embarrassing ...