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34 minutes ago, Frozenbeernuts said:

How is it an issue? Or how does bitcoin fix it?

If you send me a bill and I don't pay it for 30-60 or 90 days - How will bitcoin solve that?

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2 hours ago, Alias Detective said:

If you send me a bill and I don't pay it for 30-60 or 90 days - How will bitcoin solve that?

I gave the example of a power company. You as the power company can offer a pay as I use service while knocking a little off to incentivize it. It doesn't work with all business but some it does

It really shows the benefit when talking about international trade. You could offer a product to someone overseas and avoid fx fees along with settlement time.

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8 hours ago, Frozenbeernuts said:

Or do we just wait until the Fed releases the dollar CBDC version 1 and then go along with it?

That's exactly what's going to happen. And is happening around the globe

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The fact that Janet Yellen quoted Satoshi Nakamoto would make me at least think bitcoin could possibly survive and even thrive if I wasn't already a believer. I would then be very tempted to invest a small % of my investable money into holding some. Just in case

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Fūck cbdc.  I'll never forgive you cryptonuts for forcing us down this path. 

Law of unintended consequences strikes again.

 

  • Haha 1

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1 hour ago, nobody said:

Fūck cbdc.  I'll never forgive you cryptonuts for forcing us down this path. 

Law of unintended consequences strikes again.

 

It was probably inevitable, and I bet there are a few people wishing they had come up with cbdc before bitcoin was invented

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It wasn't even on the government's radar until all you guys started jerking off to Bitcoin.

Now it's inevitable.  

Of course, that might be the best argument for Bitcoin.  I'd sure as shìt rather use that than some cbdc if it came down to it... I mean until they regulate Bitcoin out of existence.

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17 hours ago, Frozenbeernuts said:

I don't agree with the idea of adding friction being a good thing. More efficiency and less power in the banks hands is a good thing.

Something is seriously wrong with the system. Do you guys agree? Or do we just wait until the Fed releases the dollar CBDC version 1 and then go along with it?

During that "friction" time, they check, then double check, then triple check that fraud is not happening. That is the delay.

They could process the transaction instantly, but in this case the friction is a good thing.   Preventing financial fraud is one of the top priorities of banking institutions, even if that means slower transactions.

There are many things wrong with the banking institutions, however transaction time is not one of them.

 

As for international transfer of money, bitcoin could be a great way to get around transfer fees. The reason that banks have to charge fees is because it costs them money to actually perform the transaction, banks have overhead, banks have to make a profit, and banks have to reasonably insure that fraud is not happening. This is why international transfers cost the end user money

Bitcoin does have an overhead, although much smaller, defi's have to make a profit, but if you go around a defi and assume a direct transaction then bitcoin does not have to make a profit, and if you go around a defi there is not real cost associated with the transcation. In addition there is no insurance provided by either bitcoin nor defi's. This is why there is savings when going with a bitcoin international transfer of money compared to a traditional bank.

It all comes down to risk tolerance in transactions.

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9 hours ago, MTSkiBum said:

During that "friction" time, they check, then double check, then triple check that fraud is not happening. That is the delay.

They could process the transaction instantly, but in this case the friction is a good thing.   Preventing financial fraud is one of the top priorities of banking institutions, even if that means slower transactions.

There are many things wrong with the banking institutions, however transaction time is not one of them.

 

As for international transfer of money, bitcoin could be a great way to get around transfer fees. The reason that banks have to charge fees is because it costs them money to actually perform the transaction, banks have overhead, banks have to make a profit, and banks have to reasonably insure that fraud is not happening. This is why international transfers cost the end user money

Bitcoin does have an overhead, although much smaller, defi's have to make a profit, but if you go around a defi and assume a direct transaction then bitcoin does not have to make a profit, and if you go around a defi there is not real cost associated with the transcation. In addition there is no insurance provided by either bitcoin nor defi's. This is why there is savings when going with a bitcoin international transfer of money compared to a traditional bank.

It all comes down to risk tolerance in transactions.

There are definitely reasons banks charge outrageous fx fees. A new technology is here to obsolete that skimming off the top. Well at least for payments in the near future and smaller payments. I don't know what will happen to fees once more people start to use layer 1 more often. Also western union can charge up to 10% for sending money. Maybe it's a justifiable amount? It doesn't matter, because using a system that is more efficient and cheaper will only benefit us

I'm not going to buy that all of the delay is fraud prevention, but that also doesn't really matter. The delay is there, and bitcoin eliminates. I do agree that it comes down to risk tolerance. There is more risk sending bitcoin without a doubt due to wrong address, losing of keys etc. It's a price to pay for having better money. Though there are services being built to minimize these risks

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Social media is going through an evolution. It's heading toward a more decentralized process. These social media platforms like Facebook and tech giants like Google make so much money off of our data. They harvest it and use the info for targeted ads, or they sell that data. They also benefit from creator content, either taking a cut or reaping all of the rewards. Because all of these services are free to use and post, it has created an environment for spam, and it will only get worse as AI makes the cost even cheaper.

There's a bunch of reasons why the decentralized social media movement is being built. Control your own data, monetize your own content, and solve the spam problem. This evolution is only possible with bitcoin and the lightning network.

Justin Rezvani revolutionized the way creators and brands interacted making the process much more efficient. He is now trying to bring creators together with their followers in a more mutually beneficial way. His company Zion is about to release its next version as it builds on some early success while bettering the process. He explains in this podcast how this revolution wouldn't be possible without bitcoin, and how bitcoin's cryptographically secure key structure is being used to secure our identities with Zion. There are also multiple other platforms trying to come up with solutions to decentralized ID (DID) and decentralized social media, Nostr and Hole Punch being two more.

Hole Punch made their platform to avoid any reliance on the old centralized tech that almost everything else is built on

Here's the pod

https://open.spotify.com/episode/5cDfTcuqiazltBCAuoG0AC?si=yAOjIla7QWGNEALFpl8NbA&utm_source=copy-link

You really should buy some bitcoin in case it takes off

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15 minutes ago, Frozenbeernuts said:

Social media is going through an evolution. It's heading toward a more decentralized process. These social media platforms like Facebook and tech giants like Google make so much money off of our data. They harvest it and use the info for targeted ads, or they sell that data. They also benefit from creator content, either taking a cut or reaping all of the rewards. Because all of these services are free to use and post, it has created an environment for spam, and it will only get worse as AI makes the cost even cheaper.

There's a bunch of reasons why the decentralized social media movement is being built. Control your own data, monetize your own content, and solve the spam problem. This evolution is only possible with bitcoin and the lightning network.

Justin Rezvani revolutionized the way creators and brands interacted making the process much more efficient. He is now trying to bring creators together with their followers in a more mutually beneficial way. His company Zion is about to release its next version as it builds on some early success while bettering the process. He explains in this podcast how this revolution wouldn't be possible without bitcoin, and how bitcoin's cryptographically secure key structure is being used to secure our identities with Zion. There are also multiple other platforms trying to come up with solutions to decentralized ID (DID) and decentralized social media, Nostr and Hole Punch being two more.

Hole Punch made their platform to avoid any reliance on the old centralized tech that almost everything else is built on

Here's the pod

https://open.spotify.com/episode/5cDfTcuqiazltBCAuoG0AC?si=yAOjIla7QWGNEALFpl8NbA&utm_source=copy-link

You really should buy some bitcoin in case it takes off

Hope you are right but…..https://www.justinrezvani.com/#book he is trying to sell a book.

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4 minutes ago, Alias Detective said:

Hope you are right but…..https://www.justinrezvani.com/#book he is trying to sell a book.

Idk much about him. There are multiple people working on the problem from different angles. It sounds like a good idea. But hole Punch built their protocol to be open source

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4 minutes ago, Hawkeye21 said:

Did anyone get a notice in the mail for a settlement against BlockFi?

Did the notice come with human feces?

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You want to talk about crypto?  I only jump in these threads when people are talking.  I never bump them.

Interest rates hikes are expected to ebb.  This means more action in speculative markets.  Couple that with the usual market manipulation and we see a big jump.  No real new news here.

 

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6 minutes ago, nobody said:

I guess I should expect a drop now though since you're getting froggy.

Yep

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26 minutes ago, nobody said:

I guess I should expect a drop now though since you're getting froggy.

It already retreated from 25.

And yes, I agree, I dont recall seeing you bump this thread many times. You seem to only join in on discussion that has already started :thumbsup:

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Also I popped in just to say I sold my ETH position today. Nothing earth shattering. Made $570/eth. Good enough for me

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I hope you guys bought some bitcoin. The Fed is going to need to ramp up printing to save these banks and ensure deposits. Bitcoin is a hedge against inflation, that's inflation of the currency. It's like a black hole that sucks up all of the extra liquidity.

Balajis just made a bet on Twitter with 2 different people for $1Mil each. If bitcoin is worth $1Mill in 90 days he wins. Obviously the odds are very slim of that happening, but if you don't have hard assets you should be very concerned for what's coming. You should have the hardest of them all, bitcoin, but cash is the real killer.

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It's such a great hedge against inflation, it dropped like a stone when we started getting inflation.

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4 hours ago, nobody said:

It's such a great hedge against inflation, it dropped like a stone when we started getting inflation.

Exactly.  That theory was proven wrong but these idiots still repeat the same BS to show everyone how db they are.

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29 minutes ago, GutterBoy said:

Exactly.  That theory was proven wrong but these idiots still repeat the same BS to show everyone how db they are.

You drive a minivan dude relax 

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3 hours ago, iam90sbaby said:

You drive a minivan dude relax 

You think a Tesla is slow, nobody needs to hear from you

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1 hour ago, GutterBoy said:

You think a Tesla is slow, nobody needs to hear from you

Well teslas aren't suitable for taking down various criminal syndicates across the globe.  You need a fixed up 300z for that.

The man lives his life a quarter mile at a time.

 

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12 minutes ago, nobody said:

Well teslas aren't suitable for taking down various criminal syndicates across the globe.  You need a fixed up 300z for that.

The man lives his life a quarter mile at a time.

 

Ask any investor. Any real investor. It don't matter if you win by an inch or a mile. Winning's winning.

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8 minutes ago, GutterBoy said:

Ask any investor. Any real investor. It don't matter if you win by an inch or a mile. Winning's winning.

A mile is better. It matters. You’re an idiot. 

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14 minutes ago, GutterBoy said:

Ask any investor. Any real investor. It don't matter if you win by an inch or a mile. Winning's winning.

How much would your minivan win by?

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That could be a good race.  A well maintained mini van vs a broken down 300z that's being "fixed up"

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4 minutes ago, nobody said:

That could be a good race.  A well maintained mini van vs a broken down 300z that's being "fixed up"

Lol you're mad 

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6 minutes ago, iam90sbaby said:

Lol you're mad 

Don't project.  Your whole car guy schtick is laughably retarded.  I think you really think that makes you cool or something.  You might as well be in a Napoleon Dynamite movie talking about how you can race your car over a mountain.

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1 minute ago, nobody said:

Don't project.  Your whole car guy schtick is laughably retarded.  I think you really think that makes you cool or something.  You might as well be in a Napoleon Dynamite talking about how you can race your car over a mountain.

Yep, you're definitely mad lol

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