It's strange though to find people who would love UBI/CBDC on a Bitcoin forum!  what's wrong with everyone having a base income and anyone that wants more out of life can work for it?  like say everyone gets paid 1800 pounds every month in london or wherever. they won't be driving around a lambo. but let's say they really want one. then they can go to work. if there's any jobs available that is. the AI thing might be displacing a few folks out of jobs Alright... Wanna wait until 2030 and then tell me if CBDC/UBI/social credit score/carbon credits were a good thing after all?  I can wait, don't worry. Bitcoin has taught me to have patience.  ps1: By 2030 70% of the population (5.6 billion people) will be jobless. ps2: Lambo and carbon credits are contradictory, but I get it, it's hard to understand what I mean right now. |
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There is actually a quite simple explanation for this...people are lazy. As a financial advisor I'm meeting with people daily to discuss their finances. I would say 95% of people simply have no clue about finances. I mean the people who schedule appointments with me are at least smart enough to understand they need to seek professional help, there's countless people who are so afraid of even remotely thinking about or learning about finances/their retirement plans that they'll just for example with retirement plans, set up an initial investment and amount coming out of their paychecks and then never look at it again. I can't even get many of my best friends to let me help them out for free (I've got close to 20 year of financial experience too, they know I'm a good advisor), that's just how much people dislike thinking about their finances.
When I speak to clients about bitcoin, which I get asked about often, they ALWAYS have the same thing in common. None of them truly understand how any of it works, they all of their coins on an exchange (typically Conbase, I mean Coinbase), they listen to my speech about the importance of buying a hardware wallet ( I always recommend Trezor ), they all tell me "yeah yeah I'll definitely buy a hardware wallet and call you to help me set it up"...none of them EVER do. Typically they also own like 75% bitcoin and then have a slew of complete utter shitcoins that they know absolutely NOTHING about.
People are lazy and stupid overall. That is just a simple fact.
And that's why the financial elites (Rothschilds own most central banks) rule the world.  |
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CBDC doesn't exist (yet), it's a trial phase with the already existing fiat currency (hence no social credit score/carbon credits). Learn the difference... It's strange though to find people who would love UBI/CBDC on a Bitcoin forum! Any WEF/Schwab lovers here too? |
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as though that's ever happened before in the united states. i doubt it. Oh really? Do you know for whom your beloved Biden is working for? https://www.weforum.org/agenda/2020/09/emissions-fell-during-lockdown-keep-that-wayhttps://www.weforum.org/agenda/2020/10/emissions-have-fallen-this-year-make-permanent/https://www.weforum.org/agenda/2020/10/cars-planes-trains-aviation-co2-emissions-transporttypically UBI doesn't come with any type of restrictions on how it could be used. so someone could probably even take their government pension and buy bitcoin with it sometimes. CBDC will come with restrictions (social credit score, carbon credits). Have you been living under a rock or what? If you think it will be that easy to buy BTC with CBDC on Binance or Coinbase (for example), I have a bridge to sell ya... I suggest to watch this video, if you want to be mentally prepared: https://www.youtube.com/watch?v=vWkepoLUZfsFed on brink of fifth(?) round of quantitative easing
While quantitative easing remains a plausible option, but it is unlikely to happen during the year 2023. As FED has decided to leave interest rates unchanged in their previous meeting due to consistent downward trend in inflation. However, as FED chairman hinted that in his policy statement that two more interest rates hikes are possible during the year 2023. Therefore, FED may choose to increase interest rate by 0.25% in their next meeting scheduled to be held during the current week. Let's watch and wait, how the situation unfolds in the next 72 hrs. I don't expect the next QE to happen before late 2024 at the earliest (just in time for the US elections -coincidentally- ). The inflation won't be stabilized around the 2% target until 2025... To me it seems the stars are aligning for yet another spectacular bull run in 2+ years from now. |
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That's the problem, we have a lot of people with uni degree IKR? It's called degree inflation.  I believe in the concept of scarcity (because scarcity gives value, assuming there's sufficient demand), not printing tons of worthless papers (whether we're talking about fiat currency or university degrees). Most people don't get it, though... they believe abundance is a good thing. Abundance is a good thing in food and energy (if we want them to be cheap & affordable), nowhere else. If you (as an employer) also want cheap & affordable workers (they can be considered a commodity too), then it totally makes sense to hyperinflate university degrees. that number isn't really necessary but there is a huge demand on trades skills, we have a huge deficit there. There is a huge demand on plumbers in Ireland, I mean, the demand is so high that one can easily earn up to 100K Euro net. Can you imagine 100K euro net annual salary in Europe? Can you imagine? Yes, that's possible for plumbers in Ireland. But people still go in university, then work in KFC, MacDonalds, Supermarkets, Parcel Delivery, Food Delivery, Uber, etc. Not just in Ireland. Becoming a plumber is not very prestigious, but besides that, it's also a very hard job... sometimes you have to deal with pipes full of shit.  UBI will be provided with CBDC, which means social credit score & carbon credits will become mandatory. Total control, enslavement, surveillance. There is no "free" lunch. Beware of the strings attached!
I'll take the string anyday. Just tell me where and when to sign up. You don't get anything for free. If the government wants to pay me a Universal Basic Income then I need to comply with their rules and wishes too if they are not too unreasonable. Just like someone on disability might need to go in for a checkup every so often just to make sure they still really can't work... Then better be prepared to eat bugs... they'll tell you there's a climate/food crisis going on, so we can no longer have normal food on our tables. Beggars can't be choosers. You know that, right? |
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Students are supposed to graduate first and only then do they become responsible to start paying their loan back, once they get a nice paying job. The problem is that in the future there won't be enough jobs for everyone, even if you got a university degree: https://eu.usatoday.com/story/money/2017/11/29/automation-could-kill-73-million-u-s-jobs-2030/899878001/https://edition.cnn.com/2023/07/12/business/dukaan-ceo-layoffs-ai-chatbot/index.htmlMost people do this mistake: they think that the future will be exactly like the past ( "oh, my father/grandfather got a degree and then got a nice paying job, so I'll do the same!"). Who guarantees you that??? Of course the same applies to Bitcoin too! Who guarantees you that 4-year cycles (halving-induced bull runs) will be a thing until 2140? I expect a couple more cycles (2025, 2029), but after that the halving effect will be minimal, if any. Some people may argue that new jobs will be created... sure, you can become an AI engineer and earn tons of money (300k/year). But for every new job created, hundreds will be lost. That's a fact and it doesn't sound good for the -totally clueless- majority. And what are you gonna do when the AI becomes so advanced (AGI level) that it will become an AI engineer of itself? Tech progress never stops. "Oh, I'll probably retire by then, so it won't affect me!" Sure thing, pal... Beware of the UBI idea: https://2020.yang2020.com/policies/the-freedom-dividend/It may sound good in theory, but the road to hell is paved with good intentions. Who told you that the Elites will pay you forever, just to play video games, eat McDonalds and smoke crack? According to Harari, most people are "useless eaters". It makes zero sense for the Elites to feed 8 billion people, even though they will need A LOT LESS thanks to AI/robot automation (yeah, it's the cold harsh truth that nobody wants to admit). Don't be so gullible and better start thinking what you would do if you were in their position: would you feed so many people, just because it sounds "noble" and "humanitarian"? The Elites are not humanitarian at all, I'm afraid... UBI will be provided with CBDC, which means social credit score & carbon credits will become mandatory. Total control, enslavement, surveillance. There is no "free" lunch. Beware of the strings attached! |
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How much is the fee to withdraw BTC-LN from Binance? 0 sats?
According to this, between 200 and 13,000 sats, which for lightning standards is pricey, but hey. It's Binance. Yeah, that's a lot. I wonder if Kraken LN fees are lower. |
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People have different interests/skills, that's all. Some may be proficient in IT/economics, while others may be proficient in cooking/dancing. And guess what? The WEF elites depend on the fact that the Average Joe is totally clueless about economics/IT. That's why it's so hard to stop CBDCs. They will advertise "ease of use" (at the expense of freedom).
A few weeks ago I gave a local charity in my area a bitcoin paper wallet with 10 Bitcoins. I later found out that they threw it in the trash thinking it's some kind of prank or scam. This was a facepalm moment for me. Those bitcoins are now locked on the blockchain forever, because without a private key, there is no way to ever access them. (Unless someone finds the paper wallet in the trash? How likely is that? ) You can't be serious! You donated that much money a few weeks ago? Or maybe 10+ years ago? I tend to say "study Bitcoin first, acquire Bitcoin later" for a reason. Most people don't love knowledge, I can tell you that much. They do love degrees though! (because they can get a better job position that way) |
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How much is the fee to withdraw BTC-LN from Binance? 0 sats? |
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32 ETH was already quite the chunck - at the time much more than what was required to get into Bitcoin mining. This 64x proposal is just disgusting. Even the thought of it. It clearly brings EXTREME centralisation issues, every staking node would cost millions. And only the really rich can get richer and more powerful. - The opposite of a true cryptocurrency. Ethereum is clearly moving into a terrible direction. The POS experiment may be interesting, but I'm just glad it happened on another huge chain that's not Bitcoin. And you don't get to do much if you have 32 coins on the line. There is no talk of those so called small node investors. What do you mean "on the line"? Do you need a manual approval by Vitalik to set up an ETH validator?  |
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Listening to an Italian podcast, I was introduced to this Longform: We Need More Apps with Lightning, not More Lightning AppsThis is a very well-written article with an innovative thesis: we need more applications built with LN inside and not a better LN application. The parallel is with digital cameras. Those objects were pretty good until 2007, it was the integration of a digital camera in the iPhone that was a game changer and allowed for a complete reinvention of the product. Not as per se, as before, but as an integrated layer on a bigger, more complex, product. And this is key to shifting the lever to increase the usage of LN: not the ideology, but the utility. Utility, the ability to use something for a reason, is by far a more effective way of convincing someone to use something or orange-pilling as we speak of Bitcoin technologies.
Utility is the key to scale. Connections are the key to utility. Developers are the key to connections.
I liked the digital camera/iPhone analogy. Who could have imagined Instagram back in 1974? I bet no one can imagine how Bitcoin/Lightning will look like in 50 years from now... |
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That's a custodial solution, isn't it?
yeah apparently, i didn't really notice at first but it says it here: Wallet of Satoshi is a mobile app for iOS and Android that lets you send and receive Lightning payments.
It is a zero-configuration custodial wallet with a focus on simplicity and the best possible user experience. It can be downloaded using the links at walletofsatoshi.com
Simply download and install the app and you are on the Lightning Network!But is there a non-custodial wallet where you can buy bitcoin inside of it and "Simply download and install the app and you are on the Lightning Network" ? Self-custody in LN requires way more effort than a cold wallet, not to mention constant micromanagement (backing up & rebalancing channels etc.) |
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Not even Lightning?
well yeah i forgot about lightning but if something like Wallet of Satoshi could work for you then I think that's a good solution to the high fee problem. https://www.walletofsatoshi.com/looks like they have it really dumbed down so that an average joe bitcoin user could be using lightning. you can even buy bitcoin from within the wallet (hopefully their rates are not a ripoff) so you don't have to transfer any bitcoin in (and pay a transaction fee). I guess the big question then becomes does the coffee shop take lightning payments?  that doesn't solve the having to tell the irs i sold crypto when i bought coffee but i guess i could live with that... That's a custodial solution, isn't it? |
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They can. But it's centralized, custodial and has limited to merchant which accept Visa debit without strict limitation. By strict limitation, i mean only accept card from reputable issuer. In addition,
1. There's concern about fee and conversation rate which might feels unfair for the user.
2. Such service only available to user in certain country.
well, i'm not a big fan of using something like coinbase's crypto debit card for the simple reason that i don't feel a coffee purchase at starbucks should be something i should be needing to keep track of and report to the IRS. so i'd just open a throwaway checking acct that I can put a small amount like $50 or $100 and use a debit card on that account. that beats using bitcoin to buy coffee by far. and makes more sense. and no i'm not worried about my bank shutting down and taking my $50 or $100 with them. with something like the coinbase debit card, buying coffee at starbucks = you sold crypto and need to report that on your federal tax return so the irs knows about it.. but to tie it back into the discussion, there's just some things that bitcoin can't do. it can't be everything to everyone maybe it can't be the solution to buying tiny things like a cup of coffee. not as time goes on. Not even Lightning? |
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In my opinion, it is unlikely that everyday transactions will predominantly occur on-chain. Most on-chain transactions will likely be conducted by large institutions that will contribute to second layer solutions.
how about this. they invent this card that you can use to conduct purchases and other similar transactions. the company backing up the card has centralized servers. so it works really fast has high transactions per second. no maximum blocksize or anything like that. your card is backed up by bitcoin you let them hold for you. when you use your debit card to buy something, it's not going to appear on the blockchain, the company will just adjust your "bitcoin balance" with them. Binance card already offers that, it's nothing new. |
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