banks could ban bitcoin, there's other countries that don't care and will just make money off of it.

It still has no value in *your* country then

bitcoin is being recognized as legit tech, so rational countries like canada are just taxing it

Germany is very pro as well

Pro now, but not pro always

so, if the ability to get your money out through the tradional system fails, it could lose value but would still function as a peer-to-peer method of transfering value.

'peer to peer method of transfering value'

Where would it's value come from?

Saying it's value comes from 'scarcity' isn't sufficient.

ok

Our Fiat currency's value isn't entirely based on scarcity

its not

It's largely based on confidence.

fiat is based on trust

Right.

in your gov 😂

Right.

Scary as that is.

well

no

would you rather trust open source that anyone can contribute?

I'll push back on that.

It only has transfer value if it has utility. If say, a business offered transactions in bitcoin it was probably because it was backed by exchange to currency

It's not entirely just confidence in the government

open source, anyone can contribute: the code says there's only 21 million

Even if the government vanished overnight, people would still accept USD.

Even if they didn't they would accept gold

I was about to post a whole criticism to tim but now I'm wondering if I want to get into a debate

With anyone rn

Lol

😂

Post it in debate

What a giant waste of time

Go for it

USD represents a share in the valuation of US goods and labor.

That's the trust aspect of it.

yes, and the USD is being printed at the whims of politicians to bail out banks during financial crisis

Right.

Which devalues the currency, you'll note

while you suffer inflation

It's not consequence-less

And it's because the utility of the currency lowers

the US dollar used to be good for gold, now i can redeem it for trust in God 😂

But if you cannot expect your currency to be commonplace, for its acceptance to be assumed, then it is based on exchange to a standard that is

not saying it's not doing good. I wish I had bought more in 2009 at 1:1 😛

That's why people are trading for it

Bitcoin is only as valuable as what you can buy with it.

a'ight

when your friends get lambos, dont come cryin' 😂

Condescension does NOT look good on you. Just saying.

lambos is a term used in crypto for getting rich

No

Lambos is a shortening of "Lamborghini', tool.

lol

Always has been.

yes, yes it is

Who is this roadcrypto

And why is he such a butt.

some douchebag

"Just invest in this totally speculation driven currency. You'll get rich"

exactly

BITCONNECT NEW WORLD CURRENCY

¯\_(ツ)_/¯

Hey, I say put 200 bucks in Crypto

and if it explodes..

you get free money

if not..

I've tried to get you to explain where Bitcoin's value comes from, if not piggybacked off of USD. you can't explain it.

you are out..half a paycheckl

I'm not trying to tell you guys to invest. sorry if it comes off that way

Oh, no, that's not what I"m getting from you.

k

What I thought I was going to do

was address my concerns with Crypto with someone who wanted to talk about it.

I tried to tell you about scarcity... everyone is saying i'm a douche, so i'm not trying to push too much.

Ok. Done writing the book

the code is open source.

"scarcity" does not equate to demand.

that's correct

Value is determined by both supply and demand.

we've been using paypal to send money online

and things like western union..

But it's still USD.

what isn't?

bitcoin?

it isn't, no.

I can't send a USD to China without a 3rd party or flying there and going through borders

If you send someone money through Western Union, or Paypal, you're sending USD from one person to another.

it goes through a bank, it's not a dollar note i hold anymore, so they control it while it gets sent.

Yes, they allocate funds within their vaults, essentially.

if they deplatform you, like we've seen happening, you can't send or recieve money on paypal for example

Stop

k

Let's be very clear here

PayPal relies on the credit backend

i'm not advocating for crimminal activities

Not what I'm saying.

Visa, Mastercard, Amex, Discover

but we've seen people get de-platformed for no reason

I'm saying be clear on the target