661
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Bitcoin / Bitcoin Discussion / Re: Under capitalism eventually 1% own 99% of BTC, 1% have 99% of power?
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on: April 09, 2023, 08:37:19 PM
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I think I understand that the BTC blockchain can't be corrupted, because it would be too difficult to do. But can't the 99% be exploited the 1% that own 99% of BTC? BTC is a transfer of wealth to a different system. Won't the 1% be able to exploit the 99%? Capitalism centralizes wealth
The difference is that there is no more btc printed over 21 million, whereas there are more fiat printed everyday. The logic of OP is that the rich always gets more money, and when they get more money they can spend it on getting more BTC and that means they can buy all the btc available on sale and they can own most of it. But the truth is that we have only 21 million, even leaving aside all the burned and gone bitcoins, the rich can't buy them all because we just wouldn't sell it to them. Right now, they can get more because more money is printed and even if you do not give your dollars to them, they can print more and make yours less valuable and own more, but with bitcoin they have to buy yours, and if you don't sell, they can't. Exactly. Don't sell and Bitcoin will skyrocket.
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665
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Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer
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on: April 09, 2023, 12:43:42 AM
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Imagine TCP/IP, the most successful internetworking protocol:
if you are trying to claim LN is as good as internet protocol layer above apps.. you are fooling yourself LN is a service not a protocol. LN has no network wide consensus protocol. its not even a standard. its a mish mash of crap apps that have issues communicating with each other LN is a subnetwork not a top level .. economics comparison if dollar wire transfer was the main net.. LN is not the IMF SDR rail LN is the venmo TCP/IP was invented back in 1982. Tik Tok came much later. Also, it seems you don't know Windows 98 ran on top of the DOS kernel. Old IT guys are very familiar with this layered approach. It seems it's all new to you.
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666
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Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer
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on: April 08, 2023, 05:55:35 PM
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imagine if in 1997 there was a pre release of windows 98. but where you needed to run unix+dos+win98 just to get win98 to work. where it was not just 1 CD that just installed by itself.. and where 7 years later it still was not just one install
do you think window would have been as popular
imagine if win98 had ways to lose files and corrupt data and allow others to steal data and microsoft 6 years later didnt patch it. nor patch the updates(me/xp) do you think people would have wanted windows ME, XP knowing they were just more colourful versions of the same flaw.
well LN has had 6 years of chances. but the flaws still exist and the more popular it gets the more flaws appear.
but all i see is lemmings promoting LN like its gods gift to currency even when el-salvador as a whole country tried it for a couple months and dropped it quick. and even now nigeria is not really pushing for it even though from all lemmings speeches, nigeria is supposed to be big on LN right now.. but reality is, its not
i think its time the lemmings realise that they are pulling a dead cow up a mountain. and realise their farming practices are not going to market, or if observed at market. get trashed soon after
there are many other subnetworks that peg btc far younger then LN that have gained more btc liquidity locks and actually move value with more secure locks than LN.. LN has failed the test of time, failed the test of monetary policy, failed value utility, and failed the test of security.. its time to accept it and make a new network without the flaws for your niche utility offerings. and stop pandering a decaying cow to a market that can smell that it stinks
people want fresh meat or meat they can trust. LN is and does neither
Imagine TCP/IP, the most successful internetworking protocol:
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667
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Other / Politics & Society / Re: Power Or Money ?
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on: April 08, 2023, 05:43:11 PM
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~ Nobody does something for nothing except by accident. The pay might be gratification in some way. But it doesn't have to be money. Men and women were messing around long before money was even invented. So, they invented a new word, prostitution, when people started doing it for money. Are we playing a semantics game? Or are we talking about illegitimate sexual intercourse? Show me a single woman who will have sex with a sleazy man for absolutely nothing. I'm very clear: not an alpha male, but a sleazy man. Don't you dare Google images of naked ladies having sex. It's not for your innocent eyes to see. But where do you think that these paid ladies got their sleazy start? They did it with anyone for no money, but maybe gratuity of some kind... or the fun of it, just to see what it was like. Are you dumb or what? Show me a sane & beautiful woman who wants to have sex with this guy for free (not rape, with her consent):
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671
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Other / Politics & Society / Re: Power Or Money ?
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on: April 07, 2023, 01:02:26 PM
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^^^ You forgot sex. People are built to have sex and procreate. Almost can't stop it without killing people off in wars. Money and power are simply means to better and more sex. I've said it before: prostitution would not exist without money... You were wrong before. Haven't you ever heard of sluts, who do it for pleasure, or to see who is the alpha-slut among them? Barter isn't money. Yet lots of prostitutes do it for gratuities rather than money. If there wasn't any money, prostitution would go right on as before. No, I'm not wrong. Women don't have sex with sleazy men for nothing (that's what prostitution is, in case you didn't know). So, you're wrong. I never said anything about alphas... if she wants to have sex for free, it's because she approves of that man, therefore it's not prostitution. Nobody does something for nothing except by accident. The pay might be gratification in some way. But it doesn't have to be money. Men and women were messing around long before money was even invented. So, they invented a new word, prostitution, when people started doing it for money. Are we playing a semantics game? Or are we talking about illegitimate sexual intercourse? Show me a single woman who will have sex with a sleazy man for absolutely nothing. I'm very clear: not an alpha male, but a sleazy man.
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673
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Other / Politics & Society / Re: Power Or Money ?
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on: April 06, 2023, 11:48:10 AM
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^^^ You forgot sex. People are built to have sex and procreate. Almost can't stop it without killing people off in wars. Money and power are simply means to better and more sex. I've said it before: prostitution would not exist without money... You were wrong before. Haven't you ever heard of sluts, who do it for pleasure, or to see who is the alpha-slut among them? Barter isn't money. Yet lots of prostitutes do it for gratuities rather than money. If there wasn't any money, prostitution would go right on as before. No, I'm not wrong. Women don't have sex with sleazy men for nothing (that's what prostitution is, in case you didn't know). So, you're wrong. I never said anything about alphas... if she wants to have sex for free, it's because she approves of that man, therefore it's not prostitution.
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674
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Other / Politics & Society / Re: Power Or Money ?
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on: April 05, 2023, 04:44:12 PM
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^^^ You forgot sex. People are built to have sex and procreate. Almost can't stop it without killing people off in wars. Money and power are simply means to better and more sex. I've said it before: prostitution would not exist without money...
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677
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Economy / Economics / Re: Fed on brink of fifth(?) round of quantitative easing
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on: April 02, 2023, 04:00:25 PM
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you might have to consider leaving the usa so you can get away from the us dollar and be free to buy those euros and use them... Unless regulations get even stricter, you can buy fiat currencies in the same (but more complicated) manner that you buy bitcoin. If people observe their currency getting devalued rapidly, then I don't see why not switching to another. The problem is that it's too difficult to have cash of non-foreign currency; here bitcoin comes. as an altetrnative to owning bitcoin i suppose someone could own gold or silver. those are also inflation hedges. In addition to what o_e_l_e_o said, if you're not a goldsmith, you're about to pay lots in the verification part. On the other hand, verifying that you own bitcoin is free. The US government just sold another batch of Silk Road BTC for worthless dollars... These idiots don't realize: 1) they have the FED, 2) BTC's scarcity, 3) BTC's 4-year halving cycles. By late 2025 they will wish they had hedl! But hey, at least it's good for people who want to buy cheap BTC (I guess it's no longer considered "tainted").
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678
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Economy / Economics / Re: Fed on brink of fifth(?) round of quantitative easing
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on: April 02, 2023, 11:33:40 AM
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Prior to the 2008 crash, the Fed's balance sheet was sitting at around $0.85 trillion. 15 years later, it now sits at almost $9 trillion. This means that in the last 15 years, we've printed 9x more money than we had in the entire history of the US before 2008. This is clearly unsustainable. Pretty sure the production of goods/services hasn't gone up 9x in 15 years... but it surely has made rich people with assets richer (Cantillon effect). It's a shame we're on a Bitcoin forum, most people here are long-time BTC hodlers and yet they don't realize this simple fact? Printing so much money out of thin air is legalized forgery by FED.
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680
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Economy / Economics / Re: Fed on brink of fifth(?) round of quantitative easing
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on: April 01, 2023, 04:39:29 PM
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if the dollar goes to zero, that would pretty much mean no one has a job. who wants to work for $30 per hour when a loaf of bread costs $1000? owning bitcoin won't change any of that. You don't know what black markets are, do you? Even in Weimar Republic, goods didn't stop existing. They just shifted to... black markets. Same for USSR. https://www.youtube.com/watch?v=OuOcnGAv4ooPrediction: Instagram/TikTok/OnlyFans thots will be glad to offer (real-life) sex services for the price of a... sandwich (hmmm, let's say 500 sats ).
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