Biden coming after cryptos (@America 1st was right again)

[ChicagoFats]

Fats - I own a good deal of ETH as a hedge but it’s not as secure. ETH is fairly centralized when compared to BTC, it’s ran on Amazon servers, it’s been hacked before and the “owners” have rolled back the blockchain to seize assets. None of which is possible on BTC. BTC is ran on and validated by 10’s of thousands of independent nodes, it’s never been hacked and is not owned by anyone. It is the most secure store of value in the world.

I do t necessarily view the ownership thing as bad, for a lot of reasons. One being that if they did something g stupid it would be self defeating. People would just sell the coin making it worthless. There is risk of hacking with anything digital. In fact it’s likely they will all be hacked given a long enough time runway. So they will all need to be adjusted.

The security of ETH is not something I have been concerned ned about, I’ll look into it.

I think over the long run 3-5 years, ETH will trend towards the same price as BTc. Most likely converging by Bitcoin going lower and ETH going higher.

They are susbtitutes for each other, and I think ETh has more flexibility which will give it wider adoption in the long run.

I sold all my Bitcoin, and Aave and purchased ETH about 2 months ago. It’s moved about 35% or more in my favor so far. I expect the trend to co to use, we will see

 

[Renegadenole]

Infinite divisibility doesn't stop deflation...

USD isn't championed as a means to stop "corruption" or "blood money" but it does do a pretty great job of limiting those things (and other nefarious activities) via the controls the US government has over it as the nation's currency.

Seems like some people don't get it no matter how slowly it's explained to them.

Bitcoin Bulls welcome AML KYC laws. Bitcoin is 100 percent traceable through the blockchain something that cash can never do.
This must be what it was like working for DARPA in 1989 and trying to explain the internet to someone.

 

[Renegadenole]

I do t necessarily view the ownership thing as bad, for a lot of reasons. One being that if they did something g stupid it would be self defeating. People would just sell the coin making it worthless. There is risk of hacking with anything digital. In fact it’s likely they will all be hacked given a long enough time runway. So they will all need to be adjusted.

The security of ETH is not something I have been concerned ned about, I’ll look into it.

I think over the long run 3-5 years, ETH will trend towards the same price as BTc. Most likely converging by Bitcoin going lower and ETH going higher.

They are susbtitutes for each other, and I think ETh has more flexibility which will give it wider adoption in the long run.

I sold all my Bitcoin, and Aave and purchased ETH about 2 months ago. It’s moved about 35% or more in my favor so far. I expect the trend to co to use, we will see

Bitcoin is about value storage and a simple transfer of funds - very binary.
My understanding is ETH can do more complex transfers under controlled contracts. I don’t believe they are interchangeable. I like ETH and consider it a network that can work with BTC but it can’t be nor is it designed to be the store of value that BTC is. The “owners” of ETH can just continue to issue more coins just like the feds print dollars.

 

[Renegadenole]

Infinite divisibility doesn't stop deflation...

No, but Bitcoin will maintain its value or more likely increase during times of inflation unlike the USD that loses value.
THAT IS THE WHOLE POINT OF BITCOIN.

 

[America 1st]

Bitcoin Bulls welcome AML KYC laws. Bitcoin is 100 percent traceable through the blockchain something that cash can never do.
This must be what it was like working for DARPA in 1989 and trying to explain the internet to someone.

You say this like it's a positive.

Americans should expect that the information isn't available to just whoever.

 

[America 1st]

No, but Bitcoin will maintain its value or more likely increase during times of inflation unlike the USD that loses value.
THAT IS THE WHOLE POINT OF BITCOIN.

You clearly don't understand that it's not about the value of the currency that causes deflation but how much of it is available and how that effects goods in services in an economy at it's given "value". It's the same reason 1-3% "inflation", as it's normally termed, is healthy for an economy like the US.

A reliable, ideal, and "pure" money can have more of it produced or "recalled" as an economy expands and contracts in conjunction with the population. Bitcoin can never even be seriously considered just on this basis alone and that's not counting all of it's other draw backs and negatives like privacy concerns, volatility, outside of the control of We The People (the list is nearly endless).

TLDR: Bitcoin could never work as currency for a country like the US.

 

[JordanPetersHorn]

Bitcoin Bulls welcome AML KYC laws. Bitcoin is 100 percent traceable through the blockchain something that cash can never do.
This must be what it was like working for DARPA in 1989 and trying to explain the internet to someone.

He has no concept of what he’s talking about at all you’re wasting your time. His arguments aren’t even real arguments that people with actual crypto concerns use. Just embarrassing himself for no reason and bringing the credibility of the site down

 

[America 1st]

He has no concept of what he’s talking about at all you’re wasting your time. His arguments aren’t even real arguments that people with actual crypto concerns use. Just embarrassing himself for no reason and bringing the credibility of the site down

This is how I know I'm making excellent points.

When people gotta resort to name calling and can't even attempt to answer the questions posed then you know you're over the target.

They were legitimate enough for Trump so they should be legitimate enough for any patriot.

If honest debate on The Free Speech Forum is "bringing the credibility of the site down" then what do you believe this forum is for?

 

[JordanPetersHorn]

This is how I know I'm making excellent points.

When people gotta resort to name calling and can't even attempt to answer the questions posed then you know you're over the target.

They were legitimate enough for Trump so they should be legitimate enough for any patriot.

I attempted for 7 pages with you, answered all your questions as they came up, and you don’t listen or post any technical resources to back you up. I’m not namecalling you since I’ve actually tried to honestly reason with you and have the post history to prove it and because of this can make a fair assessment as to your knowledge, and at the end of the day you need to tell someone if they’re not even close to discussion ready if you actually care about them and you are nowhere close.

None of your arguments are even starters for any kind of real debate because you don’t know anything about the true vulnerabilities. People like @Renegadenole and @Npklee try to do basic explanations that aren’t even like peer to peer arguments more just general introduction to crypto 101 stuff for you but you refuse to listen, stick to your guns every time and can’t retain what they say; THEN you have the balls to call everyone greedy even after being very patient with you.

You’re wasting everyones time.

 

[America 1st]

I attempted for 7 pages with you, answered all your questions as they came up, and you don’t listen or post any technical resources to back you up. I’m not namecalling you since I’ve actually tried to honestly reason with you and have the post history to prove it and because of this can make a fair assessment as to your knowledge, and at the end of the day you need to tell someone if they’re not even close to discussion ready if you actually care about them and you are nowhere close.

None of your arguments are even starters for any kind of real debate because you don’t know anything about the true vulnerabilities. People like @Renegadenole and @Npklee try to do basic explanations that aren’t even like peer to peer arguments more just general introduction to crypto 101 stuff for you but you refuse to listen, stick to your guns every time and can’t retain what they say; THEN you have the balls to call everyone greedy even after being very patient with you.

You’re wasting everyones time.

Stop responding if you feel like your time is being wasted

Seems like another example of what we all know to be true; if you're Russelling jim jams then you must be doing something right / making good points.

Given that I'm simply articulating what Trump and other patriots have asked I'd say I'm on the right track.

 

[JerBearr]

My holdings:

ADA
HBAR
ATOM
ETH

I like a bunch more and will be buying more on this dip.

Who is holding what and why do you like it?

I sold out all of my ADA. I have been holding since Nov. 2017 and decided it was time to move on. I believe in the project, I just wanted to relocate the funds.

 

[ChicagoFats]

Imagine not being able to understand simple things like, the USD is the most often used currency for nefarious means and Bitcoin is infinitely divisible.
No matter how many times it’s explained and no matter how slowly.

Infinitely divisible sounds a lot like infinite supply

 

[America 1st]

Infinitely divisible sounds a lot like infinite supply

It means deflation.

Put simply people would need to continually be paid less for the same goods and work. It's like hyperinflation but still worse because it can never be stopped (without switching currencies or economic systems) once started unlike even hyperinflation which is merely a representation of policy (and can be stopped as such).

 

[Renegadenole]

Infinitely divisible sounds a lot like infinite supply

No, it doesn’t. You can divide 1 BTC out to a googal of decimals, all of them still smaller than 1 and there will never be more than 21MM. ETH, USD and nearly all other currencies just make/print more currency with no cap on the supply. When you have more of something the value of it goes down. This is the foundations of basic economics. So much so that most economic laws deal with it in some way.
It’s called supply and demand.
Also see:
Law of scarcity
Law of demand
Law of valuation

 

[Renegadenole]

I attempted for 7 pages with you, answered all your questions as they came up, and you don’t listen or post any technical resources to back you up. I’m not namecalling you since I’ve actually tried to honestly reason with you and have the post history to prove it and because of this can make a fair assessment as to your knowledge, and at the end of the day you need to tell someone if they’re not even close to discussion ready if you actually care about them and you are nowhere close.

None of your arguments are even starters for any kind of real debate because you don’t know anything about the true vulnerabilities. People like @Renegadenole and @Npklee try to do basic explanations that aren’t even like peer to peer arguments more just general introduction to crypto 101 stuff for you but you refuse to listen, stick to your guns every time and can’t retain what they say; THEN you have the balls to call everyone greedy even after being very patient with you.

You’re wasting everyones time.

I’m starting to think America 1st must be a bot.

 

[Renegadenole]

You clearly don't understand that it's not about the value of the currency that causes deflation but how much of it is available and how that effects goods in services in an economy at it's given "value". It's the same reason 1-3% "inflation", as it's normally termed, is healthy for an economy like the US.

A reliable, ideal, and "pure" money can have more of it produced or "recalled" as an economy expands and contracts in conjunction with the population. Bitcoin can never even be seriously considered just on this basis alone and that's not counting all of it's other draw backs and negatives like privacy concerns, volatility, outside of the control of We The People (the list is nearly endless).

TLDR: Bitcoin could never work as currency for a country like the US.

You only believe inflation is healthy because that’s what your Keeper’s told you to believe (or programmed you to believe).

 

[America 1st]

You only believe inflation is healthy because that’s what your Keeper’s told you to believe (or programmed you to believe).

More like I have enough common sense to understand basic economics.

Meanwhile you wanna repeat the 1930s.

 

[ChicagoFats]

No, it doesn’t. You can divide 1 BTC out to a googal of decimals, all of them still smaller than 1 and there will never be more than 21MM. ETH, USD and nearly all other currencies just make/print more currency with no cap on the supply. When you have more of something the value of it goes down. This is the foundations of basic economics. So much so that most economic laws deal with it in some way.
It’s called supply and demand.
Also see:
Law of scarcity
Law of demand
Law of valuation

With the ETH 2 upgrade coming, the supply will actually start to diminish. ETH will be collected as transaction fees and burned, creating a diminishing supply.

Does that make Bitcoin obsolete?does it make eth better than BTc? obviously not, but it goes to my point that a lot of coins are substitutes. Not an exact substitute, but close enough to substitute for purpose, which in economics we know is close enough (name brand vs generic etc)

Also, anybody can copy the ledger of BTC. Take Bitcoin cash for example. It “forked” from Bitcoin and just started anew. Point being, I have a hard time with the limited supply argument for crypto

 

[America 1st]

No, it doesn’t. You can divide 1 BTC out to a googal of decimals, all of them still smaller than 1 and there will never be more than 21MM. ETH, USD and nearly all other currencies just make/print more currency with no cap on the supply. When you have more of something the value of it goes down. This is the foundations of basic economics. So much so that most economic laws deal with it in some way.
It’s called supply and demand.
Also see:
Law of scarcity
Law of demand
Law of valuation

This isn't necessarily true and you know it.

The value of the dollar has risen and fallen even though the supply has grown steadily. It's a wonderful thing called supply and demand...

Also you say "value goes down" as if that were some sort of terrible property when 1-3% inflation should be expected in an economy growing by 2-3% annually.

You don't really believe economies and populations can expand endlessly without more currency to meet their needs do you?

The whole way you view currencies and economic activity is like you're trying to cause a hyper-deflationary spiral.

Do you think debt should be phased out as well? I mean goodness

 

[America 1st]

Also

Anyone opining for something this volatile to be currency is trolling.

 

[America 1st]

When you're right you're right.

 

[America 1st]

 

[America 1st]

Bitcoin is more popular in places that support communist China (unsurprisingly).

 

[muscnd]

Anything of value like money, gold, diamonds and bitcoin will be used illegally for transactions, anyone that thinks otherwise is not being realistic. I don't know why people try to knock on bitcoin bc they have found it used for illegal activities.

 

[America 1st]

 

[America 1st]

Anything of value like money, gold, diamonds and bitcoin will be used illegally for transactions, anyone that thinks otherwise is not being realistic. I don't know why people try to knock on bitcoin bc they have found it used for illegal activities.

It really isn't as special as some people like to imagine.

I'd generally have to agree.

 

[quickfeet]

LOL I love arguments like this. Bitcoin is racist ///

 

[America 1st]

LOL I love arguments like this. Bitcoin is racist ///

Super ///

 

[America 1st]

 

[America 1st]

 

[Pfft]

Just got my invite from Coinbase to stake my ETH. Has anyone else done this yet? Easy?

Comments?

 

[Npklee]

@America 1st and Bill Maher both oppose crypto. hmmmm

 

[America 1st]

@America 1st and Bill Maher both oppose crypto. hmmmm

Every once and a while even a blind squirrel finds a nut in regards to Maher.

America 1st agrees with Trump who also opposes crypto

 

[America 1st]

 

[Chief_Trojan]

Doge is on a fucking rocket ship this morning

 

[Npklee]

Every once and a while even a blind squirrel finds a nut in regards to Maher.

America 1st agrees with Trump who also opposes crypto

So have you gotten your vaccine?

 

[America 1st]

So have you gotten your vaccine?

Lol no.

But I'm sure if they came up with one marketed via Bitcoin that you would.

 

[America 1st]

Called it.

 

[America 1st]

Called it.

 

[Npklee]

Lol no.

But I'm sure if they came up with one marketed via Bitcoin that you would.

So for the record you preach about trusting Trump on crypto stuff but not on the vaccine? How do you square that logic?