2024 ELECTION THREAD
The next presidential race will be here soon! Please see current Bovada odds. Thoughts?
A small program like Napster brought the entire musical industry’s on its knees .
Other copycat program was doing the same afterwards for the movies industries .
Something that allow the transport/exchange of value over the internet worldwide necessarily has some kind of value imo .
That « new » value to price in bitcoin is what the volatility is all about ….imo.
Napster provided digital delivery of music that didn't exist at scale before. We had the digital exchange of value decades before Bitcoin.
Agree, bitcoin is highly transportable and easily verifiable. The problem is it's worthless - it has no inherent value or backing other than the trust others collectively put into it. Any student of history understands that trust in abstract financial instruments is the first to be tossed aside. Gold has a track record of thousands of years, plus industrial utility. Fiat currencies have the full faith and backing and collective wealth of th
The value is supposed to come from its scarcity.
Something of no value that is made scarce doesn't suddenly give it value. The only value it gets from scarcity is the value others collectively assigned to it by being scarce, and as mentioned earlier, that relies on an ongoing collective faith in the value of its scarcity alone, since it has no inherent utility or value otherwise.
Napster provided digital delivery of music that didn't exist at scale before. We had the digital exchange of value decades before Bitcoin.
How ?
I never could exchange ,without « secure intermediaries », money over the internet before.
And certainly not instantly either.
I’m curious which means you are referring too prior to bitcoin.
Obviously going though secure intermediaries is preferable for most people and most interactions.
It was never about its scarcity. That was always a bullshit selling point.
The value of bitcoin comes from its total value used as a currency as opposed to the status quo. If businesses, good and bad, as well as middle class users, benefit in any way, whether through tax evasion, anonymity, speed, funding wars, gambling, drugs or anything that the leading system doesn't offer to the degree and ease of bitcoin ... that's its value and that's what determines its price.
It was never about its scarcity. That was always a bullshit selling point.
The value of bitcoin comes from its total value used as a currency as opposed to the status quo. If businesses, good and bad, as well as middle class users, benefit in any way, whether through tax evasion, anonymity, speed, funding wars, gambling, drugs or anything that the leading system doesn't offer to the degree and ease of bitcoin ... that's its value and that'
If it weren't scarce, you could mint unlimited numbers of coins, so it would be impossible for them to have value. Scarcity is a necessary condition for value, you guys are debating whether it is sufficient or not.
Ha. I actually think this is possible. But unfortunately the Democratic party has acted against it for 4 years. They have taken many measures to limit its success, particularly in America. They do not operate in good faith.
So the calculus is, support a party who is actively against it, or support a pathologically lying lunatic who speaks about supporting it.
I think looking at which party is more crypto friendly and thinking they are the best party to vote for because you like crypto is a bit short sighted. I think the better long-term play for you would be to vote for the party you think is the least fiscally responsible.
For crypto to ever really “moon” you need a federal government that continues to grow to become a larger and larger % of GDP. You should want the party that wants to print more money, give out more handouts, increase government spending and raise taxes more than the other party.
If it weren't scarce, you could mint unlimited numbers of coins, so it would be impossible for them to have value. Scarcity is a necessary condition for value, you guys are debating whether it is sufficient or not.
Sure, but the supply is fixed and the price doesn't reflect a change in supply. If initially, 21 bitcoins or 21 centillion were mined instead of 21 million it would matter just as much in a change in value as a stock that split.
If the uses of bitcoin were to get completely hamstringed, it would still become near worthless like all of the other shitcoins that prided on scarcity and failed. Bitocin going from 1k to 100k had nothing to do with its scarcity.
It's all just digits when you're dealing with a fixed supply.
Sure, but the supply is fixed and the price doesn't reflect a change in supply. If initially, 21 bitcoins or 21 centillion were mined instead of 21 million it would matter just as much in a change in value as a stock that split.
If the uses of bitcoin were to get completely hamstringed, it would still become near worthless like all of the other shitcoins that prided on scarcity and failed.
It's all just digits when you're dealing with
The fixed supply is a cap on what can theoretically be mined, not what has been mined and put into circulation. That's a bit like saying that there is a "fixed supply" of gold - the stuff that has been mined, and the stuff that's still in the ground. While technically true, I'm not sure it's particularly illuminating when it comes to assessing value.
It's the middle of the night in the US, not like there's much happening on the election news front. No harm in sneaking in a little crypto chat.
Check it out, bahbah is even giving you some free financial advice. He's a financial advisor dintcha know, people usually have to take out a second mortgage for the benefit of his words of wisdom. His particular area of expertise is income tax calculations.
How ?
I never could exchange ,without « secure intermediaries », money over the internet before.
And certainly not instantly either.
I’m curious which means you are referring too prior to bitcoin.
Yes, with secure intermediaries, the standout feature of financial systems that allows transactions to be trusted, secure, and most importantly, rescindable in cases of errors, omissions, and fraud. Bitcoin advocates have somehow managed to convince the uninformed masses that this feature is a bug, and one that Bitcoin solves by avoiding intermediaries, as if that actually solves anything useful. Not only does it fail to solve any real problems, it actually re-introduces the central problem the financial industry solved - lack of rescission. Send your bitcoin to the wrong person? Tough luck. Someone hack into your online store or wallet and steal your money or payment? Better luck next time. Someone fail to deliver what they promised for the bitcoin you paid them? Go pound sand. Or a pay a fortune in the legal fees and hope that gets your money back.
Yes, with secure intermediaries, the standout feature of financial systems that allows transactions to be trusted, secure, and most importantly, rescindable in cases of errors, omissions, and fraud. Bitcoin advocates have somehow managed to convince the uninformed masses that this feature is a bug, and one that Bitcoin solves by avoiding intermediaries, as if that actually solves anything useful. Not only does it fail to solve any real prob
well if u dont see it (or appreciate it) its fine.
As for the lack of insurance u could say the same thing for gold and many other things.
its a trade off for many things .
But anyway, nope, being able to transfer value by yourself anywhere around the world to anyone u want without any interference never been possible before.
well if u dont see it (or appreciate it) its fine.
As for the lack of insurance u could say the same thing for gold and many other things.
its a trade off for many things .
But anyway, nope, being able to transfer value by yourself anywhere around the world to anyone u want without any interference never been possible before.
I see it, the same as Bitcoin advocates do. I just don't see the real-world value in it. What exactly does one gain by being able to transfer value around the world without a financial intermediary facilitating and backing the transaction behind it?
Gold isn't a currency. And the "many other things" relating to money and credit are within the bounds of the financial industry and so do have the protections I described.
Trumptons looking at Venezuelan elections right now to get tips.
It's as if we've forgotten the power of ~350 million people > 1 Trump.
But 1 Trump can regenerate an ear back to perfect after having a 2cm hole in it (as stated by his doctor)
Almost half of those 350 will gladly bow down and cheer whatever he does. And about half of congress as well.
Not Pence though. Is the thinking that half of Congress will act contrary to constitution/laws to support illegal actions? Did he just run bad by having Pence as VP, whereas if any other GOP member of Congress would've supported him?
You also still haven't answered why you use it. 'poker' is not specific enough since you can poker via traditional rails. What has motivated your use case?
America's Card Room (ACR) directs everyone to withdrawal and deposit via crypto.
I used to get paper checks from Ignition Poker, but now they only allow crypto withdrawals.
Both sites still have a couple other options listed, but last I checked, didn't actually allow them (or put huge fees on their use). The scummy owners of these places benefit from all of their users depositing and withdrawing via crypto (another example of the concentration of crypto wealth at the very top of the economic food chain). I don't like it, but I play poker for a living, so I don't have much choice.
Edit: Global Poker allows one to link one's bank account to the site and withdrawal their "coins" straight into fiat currency to your bank account. They do this because they have some kind of subscription model which makes direct banking with them technically legal. However, they only allow crypto for deposits, I believe. In 2017-2018, you could PayPal money to your Global Poker account, during which time the site was extraordinarily soft with new fish coming in daily.
America's Card Room (ACR) directs everyone to withdrawal and deposit via crypto.
I used to get paper checks from Ignition Poker, but now they only allow crypto withdrawals.
Both sites still have a couple other options listed, but last I checked, didn't actually allow them (or put huge fees on their use). The scummy owners of these places benefit from all of their users depositing and withdrawing via crypto (another example of the concentrat
Interesting.
Do they benefit because the banking system has cut them off from traditional rails or do they benefit in a different way?
