I don't think small children should be concerned with investments, but I do think that an age of primary school is appropriate to start familiarizing a child with what money is, how it works, and what kind of money there can be. After all, kids often play games like Monopoly or apps that give them some tokens, which they can use in-game to purchase something or upgrade characters. So it's not entirely irrelevant. And in the light of discussing fiat, gold and other things, Bitcoin can also be mentioned as a kind of online money, but not the kind that a company or a country can control. As for the elderly, these are adults, and unless a person is suffering from a severe cognitive impairment due to their age, I think it's totally fine to tell them about Bitcoin. Not to push them, but to tell them if they want to know something and at the level they are interesting to know of it. My older relatives who are in their late 70s roughly know about Bitcoin from me, although sometimes only at the level 'it's the Internet money', as some of them don't use laptops, smartphones or the Internet at all. Bitcoin isn't just an investment, so it's okay to tell people about it in different ways.
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It's good that you've mentioned the geographic distribution of ATMs and how they are heavily concentrated in North America and particularly in the USA. It's this fact which I find discouraging about ATM adoption: it's happening, and doing so at a pretty good rate, but mainly on a single continent. If this distribution is still the case after 10 years of ATMs spreading, it really shows that they aren't getting significantly more popular in Europe, Eastern countries or in Africa. It's not a big deal, since Bitcoin can be exchanged without ATMs, but it's a big obstacle to viewing the increasing number of ATMs as a sign of global adoption.
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I'm not surprised and very happy to hear it's taking place in Nigeria. Honestly, I've seen lots of topics showcasing small Nigerian businesses promoting Bitcoin and accepting Bitcoin as payment, despite the hesitation of the authorities to make Nigeria officially Bitcoin-friendly. It's lovely that you've found the right moment to start accepting Bitcoin, and I hope you'll have many more Bitcoin-paying customers. Can you tell us how the payment process went in practice, though? Was it done via some payment method or transferring the payment to a Bitcoin address? If it's the latter, did you both wait for the first confirmation together? If so, was the customer okay waiting for up to 10 minutes for that?
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Op's position about selling when the price looks right is reasonable. I don't support the idea of eternal hodling either because if a person never gets to benefiting from the wealth generated by Bitcoin, there's little sense in having it at all (unless the point is to donate it to others, of course, so that someone else benefits from it). I sell occasionally when I need to and/or when the price seems better than it's been for a while. I don't feel bad about it, and I would use Bitcoin directly if I could purchase groceries or pay the rent with it, but it's not possible yet. I also understand those who want to wait till the time comes when they can use Bitcoin directly, but even this waiting time should have a maximum limit because there's a chance it'll never come (and, in another sense, we're already living in the world where Bitcoin can be used for many things if one is willing to look for the right places, brands and options).
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0.03 BTC is currently around $750, which is tons of money (I don't understand how some see it as just a normal amount, not a huge one). I'd say it's too much as far as most birthday presents go, but I don't see why anyone would be unhappy with such a present. Some things to consider are whether Bitcoin is legal and easily exchangeable or usable in your country, and whether you'd be okay with your friend deciding to sell it for fiat. If you'd be offended by your friend selling it, maybe gifting it isn't a good idea. Or you should gift a smaller amount, that way the motivation to sell will be lower.
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Satoshi's words make sense. Of course, it's not the full picture, as sometimes there can also be negative feedback loops (as the op correctly points out), with people worrying that the price will go down, selling coins, causing the price to go down and others to worry about it more. I don't know about Satoshi being into neurology and stuff, though, as this seems to me that it's a basic understanding of economics that accounts for human actors and their motives. I also wouldn't concentrate on the idea of a feedback loop and its origins here, to be honest. To me, it's just a phrase to help others understand how Bitcoin's value can grow with the growing demand.
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I've heard of the ATM crisis in Nigeria because of the mismanagement and ill-advised regulations of the authorities. Some speculated it would promote the use of Bitcoin, which seems pretty popular in some places in Nigeria. I'm really sorry to hear of people who died because of this and of businesses collapsing. This seems more serious than I initially thought. Barter is the natural thing to do in dire conditions, although of course there's a reason humanity moved to currencies: it's more convenient to have a medium of exchange than to look for people who can give you what you want but also could you what you have or are willing to take it and sell for something else later. Nigeria seems to be a country of great people but ridiculous authorities that introduce obstacles to the economy of the country, instead of simply following the people and their initiatives.
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Nice job on highlighting the correlation between inflation and the price, op! Some time ago, it could have actually been surprising to me. My intuition around 2019 was that an economic crisis would hit soon, major fiat currencies would collapse via hyperinflation, and that's when the world would realize that Bitcoin doesn't suffer from that, can't be overprinted, and can save wealth when the economy is suffering. Interestingly, my intuitions were completely wrong, as when inflation hit the top currencies, the panic spread to other markets, including cryptos, and when things started looking better, people started feeling more confident about investing money in stuff, particularly in Bitcoin.
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It's really cool how he initially just seems pro-tech, and thus pro-crypto (he's amazed not just by cryptos, but by AI music, NFT art). And then suddenly he is against the metaverse, which means he is selective in what's good and what's bad. His description of it as cave walls without being able to look behind sounds a lot like Plato's allegory of the cave. I'm not sure if I agree with this comparison because the metaverse won't be obligatory and taking part in it means realizing it's superficial (unlike Plato's cave or Matrix), but I agree about the system of control part. His comment on cryptos isn't very deep, but it's not bad either. I don't know the project he's into, but I hope it isn't something malevolent.
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there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?
When Bitcoin grows in value, one can either use it directly or sell for fiat. In any case, this money can then be used to buy goods and services, which means those businesses can get funds to pay their employees and invest in new products, and if these goods and services are purchased not just for one person, but for somebody else or a few people, it also helps support the quality of their lives. So yes, Bitcoin directly helps the economy and families (including mine), as long as people are responsible investors and as long as it's not infinite hodling.
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A) Yes B) Over C) Yes Tiebreaker: 330 points
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There are rumors that the US will enter a full-scale war with China once it invades Taiwan in 2025. If we thought the Russo-Ukraine war was coming to an end, then we ain't seen nothing yet. Such a catastrophe within the world's biggest economies (US and China) could lead us to a very dark future where the global economy collapses for good. After all, the US is the biggest economy in the world followed by China. Things will get worse if Russia is still at war with Ukraine by the time this happens. It seems like both China and Russia have ambitions to rule the world, so maybe a "New World Order" is upon us? How deep of an impact will a US-China-Taiwan conflict have over the global economy? Do you think there's still a possibility for economic recovery after the crisis? Will this weaken the US in the long run? Or will it strengthen it? Your input will be greatly appreciated. Thanks. I really hope my country will be done with Russia by that point, and if Russia loses against Ukraine, it can be a great deterrent for China because that can show that a smaller and objectively weaker country (in terms of initial personnel, forces, military rankings, economies) can defeat a bigger one, and that there are enough countries in the contemporary world that are strongly against military invasions and are willing to help the one defending oneself. China isn't stupid, and while they might want to get Taiwan back, they also don't want to lose to Taiwan and lose any grip on the world over a small part of land. If the China-Taiwan war occurs, I think it will be a bigger stress factor for the world economy than Russia vs Ukraine because of stronger economies directly involved and the worldwide impact of both China as a leading manufacturer of so many things and Taiwan's importance for technological progress.
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Whether something is art or isn't is subject to many debates. Some believe art should express universal values, others value originality, uniqueness. Some think art is purely subjective, but many believe that it can roughly be judged objectively (which is how the value and recognition of some work over other is possible). Bitcoin isn't subjective to me. In fact, it's all about verifiable things and consensus. There can be different purposes for Bitcoin, but they aren't limitless and largely fall into gambling, trading, hodling, using it as money. As a person who teaches logic, I also can't help but point out a logical mistake in the last three sentences (if we take them together, as two premises and a conclusion). Even if Bitcoin is freedom and art is also freedom, that doesn't mean that Bitcoin is art. Simple example: apples are fruit, oranges are fruit, but apples aren't oranges.
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Game 1: 34, 18' Game 2: 34, 27' Game 3: 34, 38'
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I don't know the origins of the video, and it does look like these are Western people, but I don't know... It kind of has vibes of something old to me. The clothes remind me of what was considered cool 8-10 years ago. So what if the video is just pretty old, and that's why the choice was between $100 and 1 BTC (because maybe Bitcoin's price was in hundreds), and that's also why they've never heard of it? Of course, as others pointed out, it could also be staged. And generally similar videos have more value when featuring more people in situations that look more real. There should be more BTC awareness, I agree. But first we need reliable info on how unaware young people really are of Bitcoin.
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Bitcoin and other cryptos can be more attractive in some places and less in others. If it's a country with very low Internet penetration, online payments aren't really a priority there. If it's a country with a high level of digitalization but people trust in their economy and banks very rarely let people down, Bitcoin will have a hard time competing against online banking as well. But if there's enough Internet users, smartphones are quite common, while the trust in the banks is relatively low and/or local fiat is suffering from heavy inflation and people would love to have an alternative, such conditions can be good for Bitcoin adoption.
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11. Jessica Andrade 10. Zac Pauga 9. Jamal Pogues 8. Marcin Prachnio 7. Alex Hernandez 6. Mayra Bueno Silva 5. Jamall Emmers 4. Philipe Lins 3. Evan Elder 2. A.J. Fletcher 1. Clayton Carpenter
NOT go the Full Distance 4
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I don't know about surviving via trading, but there was a time in my life when sig campaign was the main source of income, and everything cost cheap enough for it to cover the rent, utilities, and food for one person for a couple of weeks. It's been a while, lots of things changed, but back then Bitcoin did bring food on the table and helped a lot. I'm sure many went through something similar as well, and some are probably going through similar things now, especially if they have some expenses covered (like having a flat and thus not needing to pay the rent or having cheap food in a student dorm's cafeteria). But I must say that it's not what Bitcoin is for, and Bitcoin can't solve unemployment or poverty. It can help some, and that's great.
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I think it's helpful to understand a few things about people and how we tend to act in discussions or disputes before applying it to Bitcoin, and then it might be obvious why your attempts to convince friends and colleagues weren't successful, op. So we like to think that we are rational and convinced with facts, but that's not true. We accept facts when we are open to it, and if we are convinced we are right, we ignore facts that try to disprove our beliefs. So if a person is sure that Bitcoin is useless, you need to start slow, and even then you're not likely to fully succeed. The key to successful negotiations is finding common ground. If a person thing Bitcoin is a scam, you could say that scams are terrible, and that it's sad people are being robbed like that, and that we all want to have more safety. Then you can slowly start pointing out that banks also go bankrupt, and haven't you noticed that terrible inflation going on, with food costing more? And present Bitcoin as a good alternative that has its benefits, while agreeing about the risks.
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