An enlightening and high quality video on how money and the banking system work, why they are corrupted and what is the solution.
money has to be backed by the state so if bitcoiners really want bitcoin to be used in everyday transactions, i would suggest running for President and replacing U.S. Dollar with Bitcoin for tax payments/legal tender.
how will the state obtain Bitcoins? by building massive resource wasting mining farms which itll have to issue bitcoin bonds to build, making the state subservient to the private bond markets and interest rate it demands, Greek style.
there is massive plague and the economy has collapsed? what will the state do? cant give people money or increase healthcare spending because the capacity of the state to mobilize resources is now limited by what the private sector is willing to give it or how much it can mine. oops mass death.
bitcoiners have to be dumbest creatures alive.
If I have to choose between having a corrupt inefficient financial system with thousands of middlemen, vs this guy yelling at me his nonsense… I’m choosing this guy yelling at me.
Why don’t they just move to El Salvador if they like Bitcoin so much
Bitcoin is already legal tender in at least one country in America
Sole legal tender.
I don’t want to live in a world with only one legal tender. I should be able to pay in bitcoin or monero.
money has to be backed by the state
I think the point if Bitcoin was to challenge this statement.
Yea and why cryptocurrency isn’t money with its exchange rate being determined by how much fiat currencies are entering and exiting.
Bitcoin is one of the most successful open source projects to have ever been created, and it gets downvoted to hell anywhere it gets brought up. 15 years of growth in network size, usage, and capability. Surviving attacks and attempted bans from nation-states. Not a single hour of downtime, not a single hack, reliably transferring money across the globe to anybody with a cell phone and a halfway reliable internet connection in seconds to minutes for pennies to dollars in fees. 100% open source and decentralized, uncorruptible, open to whoever wants to use it, the way currency should be. It’s got a market cap bigger than Sweden’s GDP and is already more reliable and widely accepted than most national currencies. Nobody can make it print money it isn’t meant to print or move money it isn’t supposed to move.
I absolutely shit on crypto forever until actually reading into it. Alas, new things are too scary for
conservativesmost people to consider. I’m glad I grew up, being able to recognise Bitcoin as a genuine effort at creating a good thing instead of a fad.Theoretically cryptocurrencies are interesting, but Bitcoin just isn’t usable.
Bitcoin and many other currencies have way too many and large fluctuations in value for daily use.
Bitcoin specifically is not practical for transactions in general due to cost and block size limits. Yes, lightning exists, but maybe your technology is shit if it needs a second overlay network to function.
Instead of fixing those issues, most other coins are just pump and dump schemes for a quick buck.
Only very few coins try to do something different and fix some of these issues.
Why the downvotes? Video is very informative
People don’t like being farmed for spytube views.
Because it’s very disinformative, as every crypto video is.
Honestly I was expecting far more downvotes. I posted the video with people like you in mind, who still can think critically without the burden of misinformation and ideology.
Honestly I was expecting far more downvotes. I posted the video with people like you in mind, who still
can think criticallyare marks without the burden ofmisinformation and ideology.not being marks.Ftfy
By the way, if you think you are not subject to ideology, I have several things to sell you.
For anyone else reading: everyone is subject to ideology. The moment you think you arent, that is when you are most trapped by it.
It’s also skewing the history lesson to peddle cryptocurrency. Not all information is equal.
TLDR:: Bitcoin
R? There’s nothigmng to read.
🤣
TLDW ???
Besides the solution proposed, the video excels explaning how we have reach the current mess in the economy.
Open source money lol
