out

this is a discord for Tim and his musings

I'm just not convinced that it's independent of centralized currency value.

lol, wanna kick me out now? save some trouble later

that actually seems pretty reasonable

i know i'm a troll sometimes.

no offense roadcrypto, but if it's the only thing you talk about, this might not be the place.

i try to be constructive

it hasn't been. that's why i'm trying to get a channel so i don't talk about it in here

I'm open to discussing this.

you're not being a troll, you're just being annoying

i've talked about other stuff in here

lol

Theres not going to be a dedicated channel for singular topics

so chill out

@Blackhawk342 except firearms, dank memes, and shitposts.

yeah, i'm probably in the wrong place 😛

Maybe you can continue on the LBRY discord,

I'm sure there are lots of people willing to talk about cryptocurrency/attestation ledgers over there.

I've got lots of other places to talk about it, that's not the problem

there is no problem.

those are very wide topics

Its not as if someone said "lets have a channel to talk about rifles and no other gun types"

For one thing, don't confuse my concerns with Crypto with disapproval or dislike.

Cryptos are volatile, @RyeNorth There's lots of people who got rekt investing at the top... I don't want to be responsible for that, and that's why I stay from skeptical people. There's also the whole thing about scams. there's lots of them out there. people who have a natural interest will be able to do their own research better

My interest isn't in crypto as an investment, it's in crypto as a shelter.

bitcoin solved the problem of digital property. before that, you could copy and paste liberaly

it being a peer-based system, everyone has a copy of the history and anyone can send money. there's no 3rd party (like a bank) that can freeze your accounts.

it gets complicated, because there's not just Bitcoin out there

See what you should really be investing in is pre-'82 pennies because their copper value is worth more than a cent, so once pennies are decirculated you can melt them down for profit

for the sake of simplicity, it would be best to assume there's only bitcoin right now.

My uncle says invest in lead and gunpowder.

Do what Post Malone said, invest in seeds.

buy a farm

Did you know that when the US discontinued the half penny it had more buying power than the dime does today?

but if you can't buy a farm.. or you don't want silver..

there's bitcoin. internet money. digital scarcity

for more penny facts google "what are more penny facts google? thank you"

I still have zero clue how cryptos work at even the most basic level

simplest of level. it's a database that anyone can download and see all the transactions that ever happened.
security works on better cryptography than your bank account.

you generate an address based on some complicated math. the private key is only known to you and it's what allows you to say: "i own the money on that address, so i can spend it"

Where does the scarcity get it's value though?

cyber vermin

Post Malone looks like a sack of garbage.

when bitcoin was created, it was in the code that there's only gonna be 21 million available ever

when you "mine" bitcoins are created over time until that 21 mil mark

Alright...? And why is it valuable?

we're 3/4 of the way there now

because scarcity

because paypal without asking

permission

So as long as it can be exchanged into USD

it's like paypal and gold mixed together

When you use Paypal, you're exchanging USD.

it can - but like someone pointed out - those are fault points

I've used crypto to directly trade

I want your thing or do some work for me...

you can go through 3rd parties if you want..

I could deposit bitcoin at Quadriga and have it sent to my bank account directly

but at that, you have to find someone willing to accept Crypto.

if Quad doesn't want to play, I can go elsewhere

or I can trade it in person like I would a silver coin

there's a huge OTC market. localbitcoin is another option

it connects people

like a buy and sell forum, the website escrows your coins during the deal (holds it so no one cheats)

I think the question we're circling toward is: What value would bitcoin have if it got cucked out of exchange for "normal" fiat?

ok, so..

Bingo

china bans bitcoin all the time

india bans bitcoin all the time

it just gets more popular because that's like erasing the gold standard back in the day. do you guys know the history of that?

Yes.

Go on.

when the gold standard got whiped out, it was illegal to use gold to transact

so.. is it worth "less" because of that?

the short answer is yes... but the long answer is no

so, some countries try to ban bitcoin, and other countries are like: holy shit, we are making good tax money on capital gains, come to our country

what do you think is gonna happen?

canada is pretty pro crypto btw

as long as you declare it

so, they won't shut down the exchanges if they make shitloads of moneyz

Venezuala.

you guys know about inflation? 😃

The questions like that are super fucking annoying.

Just saying.

sorry. i don't know what you know

Hey guys, have you heard about the second amendment?

some people dont

i havent'

You know about the second amendment, right?

i don't know what it is

i know it's part of the US constitution

I'm just saying, I was talking about fiat currencies.

Expect that I know what inflation is.

anyway..

you're not the only one here. someone might not

I think the issue is less "wot if politician ban btc" and more "what if big banks decide it's a problem" "what if methods for converting btc to USD get tested"

i'm pretty done unless you have questions?

Basically, that.

What, that's EXACTLY what I've been saying.

I tried to explain it..