Quote:
Originally Posted by Biggy
Bitcoin is the most ironic thing ever. When the technological infrastructure is better, their banking system will also probably be a lot better eliminating a big part of the reason for BTC. It has the most appeal to the places where its the least pragmatic to adopt, and in the places where its most pragmatic to adopt, people prefer regular currency.
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It's sound money. That is all. There is no alternative. It's bitcoin or nothing. It "has the most appeal" to people who want sound money, which is everybody.
Quote:
Originally Posted by kazbalah
BTW who said running a full node on a mobile phone? Im talking a tiny 20KB mobile phone application that can text message some crypto currency instantly.
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If it doesn't have a full node then it can't send "some crypto," and you couldn't send it in a text message anyway. The thing you are describing could work just as well with dollars; it's not like bitcoin is the reason you can now authorize money transfers with your cell phone.
Quote:
Originally Posted by kazbalah
See my friend, this is my whole point. You keep calling it money, like its a money system.
Its a new peer 2 peer technology that allows mass groups of people to reach a consensus.
Many new systems can be built on top, money is only one tiny application. Think of a new internet, and all the possibilities that come with it.
That is what bitcoin is. A whole new technology platform.
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This sums up the crux of my argument. Bitcoin is strictly money. The "whole new technology" is strictly for money. It's not a good system for anything else. You are parroting U.S. government propaganda by suggesting otherwise. Bitcoin as a "
technology layer" is not a threat to the dollar. Seeing that there is no hope in re-bagging the cat, their narrative has shifted from "it can't work" to "we can use this" -- a neutered version with all the flair of a revolutionary technology, but none of the potency to
end socialism once and for all.