Message from @roadcrypto
Discord ID: 496485144270602260
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..
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.
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