"Donating his stash" means "printing more BTC" to you? Absolutely not, which is the point I am making. When you said "unless you're Satoshi..." I took that in reference to it being impossible to print any more bitcoin. Reading the line that I quoted from you again, perhaps your intended meaning was that bitcoin could not be used to fund wars, unless Satoshi donated their stash? I don't strictly agree with that either, though. Bitcoin can be used to fund anything, if it is owned in sufficient quantities by the "right" people. I think it is fairly likely that a number of governments around the world are holding not insignificant amounts of bitcoin. I could also imagine a theoretical scenario where TSMC (the biggest and most advanced microchip manufacturer) devoted 100% of their wafer production to manufacture an obscene amount of BTC ASICs. That way they could capture a huge share of the BTC hashrate (and maybe even perform a 51% attack if they're malicious enough). Will they do it? Most likely not. They would have to abandon their other customers (Apple, nVidia, AMD etc.) and the global economy (totally dependent on microchips) would collapse. That will happen when China invades Taiwan either way, but that's another discussion.  So yeah, there are potential ways to fund wars with BTC, but it would be extremely difficult and counterproductive. Just like it was possible to fund wars with gold, but it's very hard to extract huge amounts of gold. With fiat USD it's easy-peasy. And yet, you see Americans on this board being "OK" with the fact US taxpayers paid 2 trillion over 20 years to fund a failed war in Afghanistan. Let's not just blame the FED/US government. Most citizens are pretty dumb too. An enlightened minority cannot go against the majority. At least not in democracy. |
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And of course with Bitcoin it would be nearly impossible to print so much money to fund wars (well, unless you're Satoshi and you want to donate your 1m BTC stash). Satoshi returning and moving any of their stash does not equate to new bitcoin being printed, though. We will never breach the limit of 21 million. "Donating his stash" means "printing more BTC" to you? The only way to pay interest on all debts is by creating more and more money. Yup. Just the interest payments on our debt cost us half a trillion dollars a year. And since debt is increasing, interest payments will increase too. It won't be long before interest payments become one of the largest outgoings of the government's budget. And what happens then? When we pay more on interest than we do on military or healthcare? How much money do we have to print then? How worthless does the dollar become? Or do we just renege on our national debts and let the whole thing collapse? Either way, the outlook for fiat is bleak. The debt/fiat system is a huge Ponzi pyramid. What we witness right now is the next episode of the Great Reset series. They will try to collapse every commercial bank out there and promote further centralization with the CBDC (totally controlled by the central bank). |
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It appears to involve another step. When I check, it says:
"You don't have a crypto account
Start trading with Fidelity Crypto℠ today."
Then you can open an account. I don't need one since I wouldn't trust a third party with my coins and it appears it is only trading and custody without any way to take the coins out of Fidelity.
It is certainly better than nothing, but I don't see a "withdraw" or "send bitcoin to address" option in the information and without that, it is really hobbled. Sounds like Revolut (they never added an option to deposit/withdraw crypto). |
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1GB το mempool... Είναι που θα «πέθαινε» το BTC και δεν θα είχαν εισόδημα οι miners.  |
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It's frustrating to see the Fed printing more and more money to bail out banks, while the rest of us suffer from inflation and a devalued dollar. And they keep saying they'll reverse it, but they barely made a dent in reducing their balance sheet. It's like they'll never stop printing.
Correct. That's why everyone needs to buy even a small amount of BTC. |
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Which is my point exactly. $1.7 billion is nothing. We spend $800 billion a year just on our military.
maybe if the army stopped paying for peoples' college educations (and suvs and houses), they could make a small dent in this huge military spending budget. so i guess these soldiers are worse than illegal immigrants in that respect, they are costing us more than them! Good lucking finding soldiers then... The biggest problem is this: https://www.nytimes.com/interactive/2019/12/09/world/middleeast/afghanistan-war-cost.html2 trillion bucks down the drain. It's quite simple actually: USA should stop playing world police. There you go, 2 trillion $ of taxpayer money saved! Who would've thought, right? And of course with Bitcoin it would be nearly impossible to print so much money to fund wars (well, unless you're Satoshi and you want to donate your 1m BTC stash). |
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Hello, OP here. Just to give update, few days after i made this post 6 months ago i bought at around 18k,been DCA between 15k-28k currently. Working extra shifts to buy more if i can..
That's the spirit, son!  |
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Bitcoin is very liquid, unlike most cryptos/alts (small market cap).
That's legal mumbo jumbo.
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Our moderator is offline 106 days now.
Our moderator was removed and self-banned from forum and we are waiting for years to get a new one from theymos, so you better prepare to wait a bit more  LOL, what's up with theymos? He doesn't seem very active either.  |
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Bump.
Our moderator is offline 106 days now.
I hope he's not dead... |
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I don't want to get into any conspiracy theories, but I think that in high politics and business, nothing happens by chance. In that case, we have to ask ourselves what is the ultimate goal of everything that has been happening in the last 4-5 years? 3 years (since COVID). The endgame has 4 characters: it starts with C and ends with C.  |
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This aged well!  |
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And I agree, it is naive to let time fix your problems, except that I do not think Ordinals are a problem, which is why I count on time to prove if they are worthy to stay on the blockchain, if you think they cause problems then thats on you to fix them.
Considering how tokens and silly things like the Ordinals attack have never contributed to anything in the real world and have never provided any real utilities, it is obvious that nobody wants them except the gamblers who are making bets on anything they can. They might as well do it on highly volatile tokens that can see huge pumps and dumps. If an alternative is provided to these gamblers, they won't hesitate to abandon the "Token Casino" in a blinking of an eye. A lot of art sucks and has no utility in the real world. What utility does the Mona Lisa have? What utility does Andy Warhol's Campbell Soup lithographs have? Tell you what if I gave you a painting from Picasso it has no utility. True. Art is subjective. |
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One could argue the watt efficiency improvements super charged price. True. Without ASICs Bitcoin could have not reached thousands of dollars. |
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The discussion reminds me of the sustainability problem. On one extreme, if all moved to lightning there would be minimum incentive to mine. On the other extreme, if all moved on-chain, there would be minimum incentive to use due to the excessive cost. Obviously we'll find an equilibrium. Agreed. People should stop taking extreme positions. Bitcoin is the perfect embodiment of a free market system (hashing difficulty adjustment). On-chain for big transactions + off-chain for microtransactions = equilibrium achieved If only it were this simple. Free market is actually very simple, as long as people of power don't meddle with it. |
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The discussion reminds me of the sustainability problem. On one extreme, if all moved to lightning there would be minimum incentive to mine. On the other extreme, if all moved on-chain, there would be minimum incentive to use due to the excessive cost. Obviously we'll find an equilibrium. Agreed. People should stop taking extreme positions. Bitcoin is the perfect embodiment of a free market system (hashing difficulty adjustment). On-chain for big transactions + off-chain for microtransactions = equilibrium achieved |
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