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Author Topic: Is this the kind of world you want to live in? [read]  (Read 480 times)
pakhitheboss
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January 10, 2024, 11:32:16 AM
 #61

What if we were no longer allowed to store bitcoin ourselves, and be forced to leave them on an approved exchange or bank?

Only a few would be able to understand the deep meaning behind this question. There was a time when exchanges gave priority to privacy whereas now most of them have made KYC mandatory as per the government law. I still remember Binance allowing 2BTC worth transaction without passing KYC.

What if we needed to submit identify verification every time we wanted to create an address?
If you are referring to the Bitcoin wallet where we have control, then I do not think it is possible now. Maybe in the future, the government might come up with a law asking every wallet owner to pass KYC.

What if lobbyists successfully split Bitcoin into two partitions - the restricted walled garden, and the rest of the world?
Why would they be interested in doing that, they have other important things to do.

What if people in charge could set an arbitrarily high fee for anyone who wanted to make a transaction?
That would be the end of Bitcoin as it not what Bitcoin was designed to do, become a centralized entity.

Crypto privacy is the last weapon you have against financial corruption.
Agree! But, I am not someone in power or has the money to be part of that power.

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January 10, 2024, 11:58:20 AM
 #62

Are people willing to fight the Great Reset?

And I mean all aspects of it, not just point A or B...
people are not taking that seriously for now. but eventually, they'll have to fight for that if they want freedom and privacy for their selves and their upcoming generations. because govt and banks will keep oppressing them and they'll eventually take over Bitcoin and Cryptocurrency too. they are already getting into that slowly.
Most of the exchanges are in their control. and any exchange they can't control they try to shut that down. it is becoming harder and harder to use crypto freely nowadays. so people have to start fighting before situation gets even worse.

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January 10, 2024, 01:10:56 PM
 #63


What if we were no longer allowed to store bitcoin ourselves, and be forced to leave them on an approved exchange or bank?


Among all those other What Ifs, this is the one that interest me, I don't think any government on entity can control the Bitcoin blockchain right? so there is no way to block or interfere with Bitcoin transaction to certain wallet, hypothetically the only way is to filter the Internet connection with mac address or IP address, because we need internet connection to do Bitcoin transaction. But I am not networking/internet expert so I don't know.

I mean if we are to do What If, it's good to get into the detail right.

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January 10, 2024, 07:44:52 PM
 #64

Well, in actual reality, crypto has failed to achieve anything besides being another financial instrument to invest in. I don't think there's anything wrong with that, but that's the reality.

What specific aspects do you think crypto failed to achieve? I use crypto payments on an almost daily basis. Wasn't that the primary purpose of Bitcoin? A global, decentralized payment network accessible to everyone. Why do you care if many people now view Bitcoin as a potential investment opportunity, if it still serves its primary purpose?

GMail is the first kind of "private", because it's absolutely private unless there is a court order.
Google is literally the privacy nightmare of Web2. You can probably keep your documents private from a family member or a friend, but in general? Google lives off your data.

Yes, absolutely Google itself lives off of your data in lots of ways, but they don't do anything with your actual emails. They work off of aggregated data. I don't discount the privacy concerns with them for a second (my company doesn't even use cookies at all for instance), but your actual emails aren't getting breached unless there's a court order.

I feel sorry for you if you really think that. These are the facts, though:

Quote
Google has been involved in multiple lawsuits over issues such as privacy, advertising, intellectual property and various Google services such as Google Books and YouTube. The company's legal department expanded from one to nearly 100 lawyers in the first five years of business, and by 2014 had grown to around 400 lawyers
source: https://en.wikipedia.org/wiki/Google_litigation

R


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January 10, 2024, 07:56:22 PM
 #65

You describe some points that totally stand against the Bitcoin decentralisation concept. Then it seems to look like an existing digital fiat currency concept. So if all of your "ifs" become reality, then the concept of decentralised p2p money won't be true. That means Bitcoin would just use the same fiat currency, which is pretty similar to PayPal. Then we can't see current Bitcoin that is focused worldwide. Otherwise, another Satoshi would discover the real concept of Bitcoin.

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January 10, 2024, 08:33:31 PM
 #66

Well, in actual reality, crypto has failed to achieve anything besides being another financial instrument to invest in. I don't think there's anything wrong with that, but that's the reality.

What specific aspects do you think crypto failed to achieve? I use crypto payments on an almost daily basis. Wasn't that the primary purpose of Bitcoin? A global, decentralized payment network accessible to everyone. Why do you care if many people now view Bitcoin as a potential investment opportunity, if it still serves its primary purpose?


I don't doubt there are a small number of people in the world using cryptos to pay for things "on a daily basis" but the keyword here is small. There are something like 30 billion transactions a day worldwide using credit cards alone, and there's simply no chance, architecturally, that cryptocurrency could even achieve one thousandth of that.

And as I've said many, many (many!  Smiley) times here, I think it's great that people view Bitcoin as an investment opportunity. You have my viewpoint here exactly backwards. I think cryptos are a perfectly fine investment instrument and they've shown their popularity in being so in the last 10 years.

But as a worldwide payment system, crypto has failed. And you know what? Given the price of Bitcoin right now, nobody cares. How hard is it to believe that a technology that was created for one purpose was instead used for another purpose, the original one being a bust? That's happened a zillion times in the history of tech...


GMail is the first kind of "private", because it's absolutely private unless there is a court order.
Google is literally the privacy nightmare of Web2. You can probably keep your documents private from a family member or a friend, but in general? Google lives off your data.

Yes, absolutely Google itself lives off of your data in lots of ways, but they don't do anything with your actual emails. They work off of aggregated data. I don't discount the privacy concerns with them for a second (my company doesn't even use cookies at all for instance), but your actual emails aren't getting breached unless there's a court order.

I feel sorry for you if you really think that. These are the facts, though:

Quote
Google has been involved in multiple lawsuits over issues such as privacy, advertising, intellectual property and various Google services such as Google Books and YouTube. The company's legal department expanded from one to nearly 100 lawyers in the first five years of business, and by 2014 had grown to around 400 lawyers
source: https://en.wikipedia.org/wiki/Google_litigation


Sorry that I think what? I said I agree that Google has privacy issues, and they are well-documented. And my company doesn't even use cookies because we see them as evil.

I was only making a narrow point about the text and meaning of the emails themselves, for which there has never been any evidence that Google has every breached that without a specifically targeted court order, nor would there be any reason for them to. That doesn't mean I deny they have many privacy issues, many of which I've seen first hand in my IT career.



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January 11, 2024, 11:22:54 PM
 #67

If there are regulations like that, it's scary, because our bitcoins are entrusted even to countries or institutions, only storing decimals but assets are managed and freely visited by state wallets, I can't imagine it. So the value of a new business that might be lucrative. Bitcoin is still new and not yet comprehensive proof that the country has only reached the stage of providing conversion to fiat from a local cex. they consider it easy but it could be that with the vision and mission of wanting to provide security for citizens and in the future will consider bitcoin as a currency for blatant payment in public Cheesy, actually it doesn't matter but convenience will bring side effects, your thinking is right, it could be threatening and could be real.
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I didn't realize that sometimes I use P2P even on cex, do cex users have traffic as visitors because more and more cex are popping up, Cheesy at the beginning I used cex maybe slowly wanted to highlight bitcoin and under the ownership of a clear institution (cex) add to altcoins, especially there are some that support P2P among cex, when I have cex indeed my privasy has been given to the financial service. less practicing P2P personally especially with new people.
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