I’m giving you an F purely on how abysmally you put this comic together.
ahh yes crypto, where every single transaction is kept on a permanent ledger, truly a bastion of privacy unlike this dollar bill that may or may not have been used to snort cocaine or put in a strippers thong.
A ledger which is pseudonymous. On Bitcoin lightning, your transactions don’t go on (but are secured by) the Bitcoin ledger. Monero offers even more privacy.
So, you agree that it’s not anonymous?
It’s pseudonymous, with proper use, you can achieve a great deal of anonymity with it, especially now that lightning and coinjoin are things. Monero does most of that automatically, so if you want hard anonymity the easy way, use Monero. Bitcoin’s privacy continues to increase with time and is a priority for developers. An auditable supply is also crucial.
In perfect use, a condom is something like 97 percent effective. In real use its not close.
a great deal
so not anonymous? If you aren’t guaranteed 100% anonymous, you are not anonymous in the slightest.
Or maybe, that dollar bill has lived an especially wild life and was used to snort coke off a strippers ass before being placed into a thong.
the layout of the last 3 panels is a little baffling.
The community is rightfully distrustful and dismissive toward a technology that is mostly used for scams and grifting.
The Folding Ideas video on crypto has yet to be adequately refuted.
If someone was earnestly looking for a way to privately transact, the best option I’ve seen is GNU taler, which doesn’t require any crypto or blockchains to accomplish its goal extremely well, it just needs wider adoption.
“Crypto” is full of scams, you’re right about that. Bitcoin has been around for 15 years. You can use it to send money to anybody on planet earth in under a second (with lightning) for pennies in fees. It has a transparent, auditable supply. It has done this function without a single bank holiday, hack, or hour of downtime since the 2008 financial crisis, through a pandemic, wars, and attempted bans by nation states. It has a market cap bigger than Sweden’s GDP. Every year it grows no matter whether you are measuring market cap, number of nodes, number of transactions, volume of money moved, whatever. It processes millions of transactions a year. On nostr alone it has processed 2.9 million transactions over the past two months.
Bitcoin works. It’s been working. People all over the globe use it as a currency, as an asset, and as a payment method.
Gotta love to use a currency with that fluctuating value. /s
When I pay for a coffee and the shop says that I paid the equivalent of 5 cents. Then, I pay the rest and all of a sudden: I paid the equivalent of 100€.
Gotta love to use a currency with that fluctuating value. /s
When I pay for a coffee and the shop says that I paid the equivalent of 5 cents. Then, I pay the rest and all of a sudden: I paid the equivalent of 100€.
How has your USD or EUR held up the last 5 years? Buys fewer eggs than it used to huh? Bitcoin has held up pretty damned well. Its price has gotten more stable with time, it is more stable than most national currencies already. Stability is a reflection of scale. Need perfect stability? You can use Bitcoin for payments while receiving and sending in USD or your currency of choice, just use Bitcoin as the settlement layer. Strike already does this in like 20+ countries with instant settlement times thanks to lightning. And no fees.
Fiat currency is guaranteed to lose value over time. Central banks set a target inflation rate of 2-3% per year. Bitcoin may gain or lose value over time. Choosing between a guaranteed loss of value or a potential loss/gain in value, the choice is clear for me. For 15 years in a row, holding BTC has been a better investment than holding USD.
Buys fewer eggs than it used to huh?
Yeah. But it has been way more stable in the timespan of a few minutes.
Please read up a bit on economics. Yop’re embarrassing yourself with your austrian brainworm.
Don’t forget the dire environmental impact of pretty much every cryptocurrency!
Thats not true.
Bitcoin’s annualized footprint in electricity consumption reached an all-time high in early 2022, then believed to be higher than the power consumption of Finland.
Bitcoin != most cryptocurrencies
So your “argument” is purely semantic. Good to know.
Bitcoin uses <1% of global electrical usage, mostly from renewables since miners must chase the cheapest electricity and renewables at off-peak times are it. They turn off during times of peak demand since they can’t afford higher-priced electricity. How do you think that compares to banks? Remittance services? All the infrastructure used to move money from point A to point B? It takes energy and even more valuable: human capital to move value around.
For reasons why Bitcoin isn’t a huge waste of energy and why it actually helps stabilize grids, increase efficiency, decrease electrical costs, and subsidizes the provision of new renewable infrastructure, see https://endthefud.org/
Considering how much of a nieche Bitcoin still is: 0.5% of global energy usage is one hell of a lot of energy!
In what universe is proof-of-work more efficient than conventional banking systems?
Let’s talk about banks.
Let’s talk about all the vaults and their maintenance, the security guards, the Brinks armored cars, all the tellers, wire transaction-handling, and so on and so on.
No, gee, hmm, they’ve never calculated how much a vast, global expense all of this is per second.
Maybe they want you to keep believing that it’s more efficient.
If someone was earnestly looking for a way to privately transact, the best option I’ve seen is GNU taler, which doesn’t require any crypto or blockchains to accomplish its goal extremely well, it just needs wider adoption.
Putting aside all other arguments, just comparing Monero vs Taler for a earnest private way to transact. Can you explain to me how Taler is the better option from the perspective of the sender and the receiver lets say someone was buying a month of VPN access for $5?
For a XMR/Monero Transaction (S - seller, R - Receiver, X - XMR Chain)
- Time to transact, a single block committed to X - Wait time 2 minutes
- No third parties to object to S, R
- No third parties have any view into the business of S, R
- No third parties even know that S, R have a relationship from the transaction history
for a Taler transaction (S, R, T- Taler)
- Transactions Immediately committed to T, no human level wait window
- Third parties can inspect S
- Third parties with T’s help (so compelled discovery) can look at global money movements and reconstruct S, R relationship
Am I missing something? XMR has a longer wait period, but Taler has far less privacy aspects overall.
Cash: Continues existing
Crypto bros: “And I took that personally”.jpeg
Cash: continues existing, providing simple, privacy-perserving, anonymous payments for the population
Governments and CBDCs: “And I took that personally”.jpeg
You go into a store and purchase a tool. Like an axe. You pay with cash.
You use the axe to commit a crime. You are a suspect, and the police issue a photo to the public.
The store clerk recognises the photo and contacts the police.
The police review the footage and watch you paying with cash at the store.
wOw So AnOnYmOuS sO bRaVe
in your example thenproblem is the purchase method, not the payment method. Same thing would have happened if you payed with crypto.
Governments and CBDCs: “And I took that personally”.jpeg
You dropped this: Hands you a tinfoil hat
“And I took that personally”.jpeg
Would any rich cryptobros like a copy of that jpeg but instead pay 100k for it so you can say you “own it”?
/s
This is not how comics work…
