discussion comment
3 years ago
Actually, you just changed the subject to avoid dealing with the fact that what I wrote is true.
You can’t even tell the truth about what I wrote in this thread! When the hell did I ever write that proof of work isn’t energy intensive? Why do you make up lies?
You’re a liar.
discussion comment
3 years ago
"Bitcoin does the same. You only read things that agree with you and your echo chamber emboldens you into thinking you are correct."
-This is true of many people, but when it comes to how I invest my money I am actually very careful. In this particular case, I spent many hours studying the opposing viewpoints. I carefully examined the arguments of people who proclaim that Bitcoin is a Ponzi scheme (it isn't), people who claim that it has no value (it does), e.g. Peter Schiff, and I carefully examined the claims of people who say that Bitcoin is bad for the environment (it isn't).
No, @BitcoinHodler/CTLennay, I read arguments and I evaluate them based on truth and logic. Sure, I admit that Bitcoin may appear, from the outside, to be a cult (of course, perceptions can be false). But no, it can't be considered a religion based on the definition of the word "religion." This is an example of how I carefully consider the truth and validity of arguments. You've made the claim that my arguments about Bitcoin are religious, and I went to the dictionary to find out if that claim could be considered true. Do words have meaning? If you don't think words have meaning, then fine, my arguments are "religious," but then they are also "cloudy," and "stairs," and "hamburger," and "unjeliframbic."
"I hope you find a young lady who will pull you out of it."
-Pull me out of what, exactly? Critical thinking and prudent decision-making? My interests in science, technology, philosophy, and economics? If she wants to pull me out of those things then, no thank you, I'll pass for now.
discussion comment
3 years ago
Here ya go everybody, another resource for ya. Learn something— https://podcasts.apple.com/us/podcast/lex-fridman-podcast/id1434243584?i=1000557639540
discussion comment
3 years ago
“The only use case for bitcoin is for transactions the US government would block.”
-Correction: ONE of the use cases of Bitcoin is for making transactions that ANY individual or organization, whether they are good or evil, would want to censor. Just like automobiles, penicillin, and the internet, Bitcoin is a liberating technology that empowers anybody who uses it.
@BitcoinHodler/CTLennay—YOU are depraved if you would wish to deprive society of this fundamental freedom. Sick people are going to torture animals regardless of Bitcoin’s existence; it’s not as if evil was only just introduced in 2008.
I’ve written it once, and I’ll write it again—you’re an idiot. I have very little respect for you.
discussion comment
3 years ago
Here ya go, y’all—Bitcoin was just featured on 60 Minutes this past weekend. Try to learn something, okay?
https://www.cbsnews.com/news/bitcoin-beach-el-salvador-60-minutes-2022-04-10/
discussion comment
3 years ago
“Your quasi religious arguments”
-Nothing that I wrote, about bitcoin, was dependent upon or concerned itself with “a set of beliefs concerning the cause, nature, and purpose of the universe.” Also, nothing that I wrote was dependent upon or concerned itself with “the creation of a superhuman agency or agencies.” Additionally, nothing that I wrote was dependent upon or concerned itself with “devotional and ritual observances.”
Therefore, none of my arguments about bitcoin could logically be described as “religious.”
“This thread is getting far off topic. The original topic was about the announcement that point-of-sale device companies would be adding the Lightning Network as an alternative payment network to the credit cards, which means you’ll be able to pay for goods and services at some of the largest retailers using the Lightning Network."
discussion comment
3 years ago
“You're the ranting doomsayer on the street corner, the Jehovah's Witness banging on my door, the Amway salesman promising millions.”
-ad hominem.
"This thread is getting far off topic. The original topic was about the announcement that point-of-sale device companies would be adding the Lightning Network as an alternative payment network to the credit cards, which means you’ll be able to pay for goods and services at some of the largest retailers using the Lightning Network."
discussion comment
3 years ago
“FTS, I linked the thread in my original comment calling you out for lying about paying using bitcoin on Amazon.”
-That wasn’t really a lie, I really did make a purchase on Amazon by only spending my Bitcoins, and I can still do that now whenever I want. Notice that that is not the same as writing that Amazon has a Bitcoin checkout option. It may not have been the best way of wording it, but I consider it to be effectively paying for things with bitcoins—
https://paywithmoon.com/
discussion comment
3 years ago
And, again...
"This thread is getting far off topic. The original topic was about the announcement that point-of-sale device companies would be adding the Lightning Network as an alternative payment network to the credit cards, which means you’ll be able to pay for goods and services at some of the largest retailers using the Lightning Network."
discussion comment
3 years ago
religion
noun
a set of beliefs concerning the cause, nature, and purpose of the universe, especially when considered as the creation of a superhuman agency or agencies, usually involving devotional and ritual observances, and often containing a moral code governing the conduct of human affairs.
My only apology will be to say, "I'm sorry that you're wrong, again, Tetradon." "good" and "right" are not exclusively religious terms. Those are terms that are used in religious settings, but so are words like "the," "and," "cross," "light," "truth," etc. Sharing good news with people, because it's good, is NOT an activity that is exclusively within the domain of religion. Wanna know how I know that? Because atheists also share good news with their friends. That's what normal people do, regardless of their point-of-view on the origins of life, and the universe, and their moral code.
I'm sorry that you're wrong!
"...view of Bitcoin as the next stage in human evolution is comical.”
-Did you forget about this one? Where did I talk about Bitcoin as the next stage of human evolution?
c'mon Tetradon, don't be building straw men.
discussion comment
3 years ago
“ Even if one were to concede (and I'm not) that everything technical you've said is right, your salvific view of Bitcoin as the next stage in human evolution is comical.”
-That’s a nice straw man, but let’s not make straw men in this thread, okay? I welcome you to steelman my arguments, but let’s not make straw men.
“our very own FTS lied about paying using bitcoin on amazon 2 years ago.”
-Please provide a link to the post in which I lied, as I am dubious of this claim. I may have reported about a news article which made that claim, but I don’t think I ever wrote that “Amazon is definitely going to add a Bitcoin payment option within X amount of time”
“ If you didn't want validation you wouldn't be begging for it.”
-Where did I write “please, please agree with me?” Y’all are fucking wrong, plain and simple. I’m not going to compromise my integrity just because you disagree with me and you like to throw insults.
“ Far as BTC - we sadly disagree
one final point, well actually 2:
1. the crypto industry has false flagged a number of events, the industry is full of bots on twitter, posting fake events (such as the recent false flag that AMAZON was gonna accept BTC)
2. The crypto industry states that it is a great way to diversify from stocks, however if you look at the charts - stocks and crypto are CLOSELY corelated.”
-See, this is just another example of intellectual dishonesty. You just wrote “As far as BTC” and then you went on to talk about crypto. Hellloooo! Crypto =/= Bitcoin! Regarding your 2nd point, they have only recently become loosely correlated. If you look at the entire Bitcoin history you’ll find that Bitcoin goes through periods of being correlated and periods of being totally uncorrelated. That’s quite unlike e.g. NASDAQ and SPX, which are pretty much always highly correlated.
Lolz on the soft-balled old men dependent on the Pfizer blue pill.
This thread is getting far off topic. The original topic was about the announcement that point-of-sale device companies would be adding the Lightning Network as an alternative payment network to the credit cards, which means you’ll be able to pay for goods and services at some of the largest retailers using the Lightning Network.
discussion comment
3 years ago
Here ya go, y’all. Learn something:
https://twitter.com/nic__carter/status/1513554374861197312?s=21&t=5N6W_BH3jlpG56tl01b_1w
https://youtu.be/4ju_Za8N7ig
discussion comment
3 years ago
" ‘So, where is the appreciation?’
LOL is this it? You want validation from random guys on a titty bar message board?”
-Not really. You’re the one who brought up the many hours of education that’s required to understand this stuff, so you acknowledge that there is a lot of time needed to figure this stuff out. I’m calling you out on your lack of appreciation for being provided the truth that would otherwise require many hours of studying to find. I would do the same thing in any other setting. In fact, if you look at my profile you’ll notice that I’ve started quite a few discussions about Bitcoin already, so I knew that I would receive this kind of feedback before I started the discussion.
“‘I’m just sitting here writing what I know to be truthful,’
So am I. You're a pissy little bitch.”
-I’m not the one who started the trolling and insulting. I offered up a piece of news, and right away you started with the negativity. “Bitcoin is based on the premise that you can sell it to a bigger sucker at a higher price.”
Taking responsibility isn’t being a bitch. Making a commitment to what is true isn’t being a bitch.
No, the bitch is the negative person who doesn’t have the balls to look at himself/herself. Notice that I’m not directly calling you a bitch, I’m offering you some advice so that you can better yourself.
But, go ahead, keep insulting me until you’re finished. I can take it. Get it out of your system.
discussion comment
3 years ago
“No, I'm calling you a pissy little bitch because of your tissue paper-thin skin responses to legitimate questions.”
-A lot of these questions don’t seem genuine. I’ve repeated many points several times, and nobody seems to want to have a little courage and say, “ya know what, FTS is right about this particular point.” Why not? Who is the bitch? I’m just sitting here writing what I know to be truthful, and calling people out on what they write as either being false, or what I perceive to be deceptive spreading of misinformation.
“ You know what? Maybe if I devoted 20 hours a week to studying this stuff, I'd think otherwise.
But guess what, to me, and to many of us, it isn't our life's priority. ”
-So, where is the appreciation? I actually HAVE spent hundreds of hours studying this topic. And people have the gall to write that I’m wrong when they haven’t done the research themselves.
Methinks some of you are PROJECTING. Go ahead, do a little research. I’ll wait.
discussion comment
3 years ago
“ ‘Why are you comparing CC transactions to the final settlement transactions of Bitcoin??’ because of your OP where you do exactly that“
-No, I don’t. Go back and re-read it. I think you’re conflating Bitcoin transactions with Lightning transactions.
I’ll wait for you to admit you were wrong. Do a little more research on Lightning Network.
“ ‘First of all, on-chain transactions are NOT priced in dollars.’ i did not say they were“
-You quoted them in dollars, which is not accurate. On-chain transactions are not quoted in dollars, they’re quoted in satoshis and they are dependent on the size of the transaction data. Again, quoting them in dollars is a misrepresentation.
“read the sentence where YOU mention credit card transaction fees. Don't you think you were deceptive when you start by discussing common retail purchases in your OP and the transaction fee for 1 billion dollars in a later post and not the transaction fee for an actual common retail purchase?“
-No, I wasn’t deceptive at all. YOU were the one who brought up on-chain transactions, not me. Go back and re-read.
Again, I’ll wait for you to admit you are wrong. Don’t be a coward; take responsibility for your mistake.
discussion comment
3 years ago
“You condemn people for being anything less than perfect angels when they respond to you, then when they bring up legit concerns you cuss them out for misinformation.”
-This TUSCL user, K, initially responded by asking questions, as if he didn’t know the answers to his own questions. I then responded very genuinely with truthful information. His response was not only a complete disregard of the information that I provided, but also a response that makes it seem as if he is already (falsely) confident in his understanding of the topics that he was initial questioning. How else should I interpret that, other than a display of deception and malicious spreading of misinformation? If he already perceived his own understanding as being accurate, then it’s dishonest to then ask for information on those topics as if you don’t already have confidence in your own understanding.
“ Because if you're skeptical of Bitcoin, you must hate mom, apple pie, freedom, democracy, and Jesus!”
-No, Tetradon, actually the complete opposite! Yes, one OUGHT to be skeptical of Bitcoin! But K is clearly not skeptical, he’s dismissive of the truth and just spreading false information!
For instance: regarding the transaction fee, the actual, network-determined transaction fee can be viewed at this website: https://jochen-hoenicke.de/queue/#BTC,2h,count . One will notice that the quoted fees are in satoshis/vB. So, why would K then characterize the transaction fees as a quantity of USD?! The transaction fees are not in dollars! It’s also a misrepresentation to write that people would be buying every-day items like milk and coffee using the final settlement on-chain transactions. This is ridiculous?
And you call me a pissy little bitch? It’s like I’m being accused of being a bitch for teaching flat-earthers that the Earth is round! This is pathetic! How about you guys take a little responsibility for the things that you write? Own up to your mistakes, and your false statements, like I do! That’s what it means to be a man. The bitch is the coward who can’t admit when he’s wrong.
discussion comment
3 years ago
“Yes I am.”
-Short it.
“Its clunky and not very user friendly.”
-There is nothing clunky or not user friendly about scanning a QR code with a smartphone camera. What’s clunky is pulling out a checkbook, writing your transaction details, signing it like you’re John Hancock signing the Declaration of Independence, tearing it off and handing it to the cash register, and then the merchant has to handle all those checks.
“Mass adoption won't happen.”
-Yea, they said that back when Satoshi Nakamoto was still around in 2009. Here we are, 13 years later, and over 100 million people use Bitcoin. Do you realize what that means? That means, if Bitcoin users were their own country, then Bitcoin users would rank within the top 15 countries by population! Methinks mass adoption has already started.
“The average American doesn't want to be their own bank.”
-The average American doesn’t want to lose money, or be the victim of robbery.
“I'm not sure what you do for work, but I work in finance.”
-I’m a physicist, who’s spent lots of time studying finance and economics.
discussion comment
3 years ago
@K, I think you are purposely being deceptive and spreading false information, or you are just lazy and didn’t read everything that I wrote.
“ cool but a highly inaccurate answer. bitcoin transactions fees are currently 1.50 USD and has been as high as 14 USD. This is per transaction.”
-I can say emphatically, and with complete confidence, that that statement is completely false.
1) First of all, on-chain transactions are NOT priced in dollars. Please read, again, what I wrote. At the time that I wrote my last message, the on-chain transaction fee was about 5 sats/vB. Read that again. 5 SATS/VB. Did you read “USD” anywhere in that fee? No, because transaction fees are not priced in dollars, they are priced in the native currency of Bitcoin.
2) yes, that is per ON-CHAIN transaction. On-chain transactions are FINAL, unlike credit-card transactions. Did you purposely ignore what I wrote? People won’t be buying milk by final settlement. Do people use ACH or Wire transfers to buy milk? NO! Why are you being deceptive??
“I used my credit card. it was still under 2 USD. CVS kindly absorbed the small transaction fee VISA charged. I doubt they will absorb 1.55 USD to use BTC. that will be passed on to me making the milk 3.50 USD. nearly 80% transaction fee to buy milk.”
-Again, why are you spreading false information?! Why are you comparing CC transactions to the final settlement transactions of Bitcoin??
You are also wrong about CVS “kindly [absorbing] the small transaction fee VISA charged.” CVS doesn’t kindly pay for things for you! CVS is trying to make a profit! The cost of the CC transaction is absorbed into the cost of the goods and services sold by CVS, I.e. if they used a cheaper payment network then the price of their goods and services would be cheaper!
“My credit card transactions are on my account instantly. Do not confuse a nightly account posting with transaction confirmation. Or worse, confusing disbursement to the vendor with confirmation. Doing so makes you look like you have no idea what you are talking about.”
-I am making no confusion, you are the one spreading false information. DO NOT COMPARE CC TRANSACTIONS WITH THE FINAL SETTLEMENT BITCOIN TRANSACTIONS! CC transactions are NOT final!
Fuck off with your misinformation. I tried to give you the information you were seeking, but clearly you just wanted to bring up these topics so you could spread misinformation. Fuck off.
discussion comment
3 years ago
^^ Correction to my previous comment--the speech by Janet Yellen was given on April 7th, not today, April 11th.
discussion comment
3 years ago
Perhaps all you Bitcoin-haters should grow a pair of balls, watch this speech given by former Fed Chair and current Treasury Secretary, Janet Yellen, and then look yourself in the mirror and ask yourself if you're prepared to take responsibility for your position on Bitcoin. If you are, and you're (falsely) confident that Bitcoin is just a fad that is going to zero, then I am begging you--SHORT IT! Take out a huge loan on your home equity and take out a massive, leveraged short position on Bitcoin. It's definitely going to zero, right?! So take out the largest short position you possible can. PLEEEAAASE DO IT!!! Short the motherfucking Bitcoin to zero!
(That was sarcasm; if you do that, you will lose all of your money and you'll be homeless).
A segment from Treasury Secretary's speech, given today, April 11th, 2022: https://www.youtube.com/watch?v=E2PL3Mtzkio
discussion comment
3 years ago
"No one is going to wait 20 years for it to go up. People want to spend the money they have now without worrying about it being less by the next day."
-As I already wrote, if you have a high time preference (you care more about the present, than about your future, relative to the average person) then you are less inclined to grok Bitcoin.
"FTS, what do you think you're gaining by preaching Bitcoin on a board of strip club fans?"
-If anything at all, I think I'm getting a very small dopamine hit. Other than that... nothing. Again, my intention with this post was to share some good news.
And now, a brief lesson on how to recognize dishonest criticism--
When a person criticizes you, or your message, with insults or insulting language, without including evidence or some kind of message that is intended to correct your behavior, or your message, then you can be fairly confident that that person's criticism is dishonest, or, at best, malicious. Here is an example,
" 'Mining bitcoin will be instrumental in the next phase of human development and solving climate change'
LOLOLOLOL OMFG I FUCKING CAN'T BELIEVE THIS.
Proof of work is inherently energy intensive, there is no way around this. Its very 1984esque for crypto cultists to claim bitcoin is good for solving climate change.
At first they laugh at you, then they continue laughing. Then they're rolling on the floor laughing. Please stop I can't laugh any more. I can't stop laughing. Then you lose your catch phrase/you get exit scammed by the exchange you use. Sorry for your lose."
-Notice how the bulk of the above criticism is the insulting, belittling language. The only part of the message that isn't belittling in nature is the true statement, "Proof of work is inherently energy intensive," which, really, borders on tautological. There is nothing in this criticism that offers a correction to the proposition that it criticizes. Because it offers no correction, or logical explanation of the false nature of the claims that it criticizes, then it is either a manipulation intended to distract the reader from the message that is being criticized, or it's just ridiculous and malicious taunting.
"BTC is DOWN again
down almost 18% in a single week period
headed down to 32,000 soon - i wish you could bet it short
Bitcoin is down 20% in less than 10 days - now below 39,000.. remember next support level is 32,000 so it could be headed another 30 percent lower
etherium is down 9% today alone
major crypto losses across the board"
-Again, if you have a high time preference then you are less inclined to grok Bitcoin. My suggestion is that you ZOOM OUT. How many times do I have to link to this site? https://bitcoin.zorinaq.com/price/
How much did the price of Bitcoin move on that chart? A few pixels? Again, a price is an exchange ratio. It is the ratio of the quantity of one thing being exchange for another. What are the things being exchanged? Bitcoin, which is of a fixed, finite supply, and fiat currency, which is fundamentally unlimited in its supply. Being concerned about the day-to-day price changes of Bitcoin is like paying attention to the ripples in the water of a calm beach as a tsunami comes barreling towards you, at a distance, with a speed of 500 mph. Why would you be concerned with the day-to-day changes of the USDBTC exchange ratio when it's a mathematical certainty that the Fed will, eventually, print QUADRILLIONS of dollars?!
"what is the fee for a bitcoin transaction and how long does it take to confirm?
If i recall correctly, 90% of all transactions will be confirmed in ten to thirty minutes. Bitcoin considers zero delay to be confirmed in the next block. Besides the fee being higher for this, that means a minimum wait of five minutes on average. Confirmation times have gotten into days for low fee transactions.
i know, i don't understand, i should watch some video or you'll do a what about type question. I don't expect you to address these issues and how a business like Target would tolerate it. if you do address these issues, what do you think of the double spend problem? please answer in your own words, I don't want to watch a video."
-The fee for final settlement on the Bitcoin blockchain varies over time according to supply and demand. The current fee is about 5 sats/vB (less than $1 to move an arbitrary amount of money. $1 fee to move $1 billion is a fee of less than 0.000001%). It's important to compare like for like, i.e. compare things that are within the same category. Comparing the final settlement on-chain transaction of Bitcoin to a credit card transaction is NOT a like-for-like comparison. Final settlement within the traditional financial system takes days, and sometimes weeks or months. A familiar analogy to the Bitcoin final settlement is an ACH transaction, which typically takes at least 1 business day. So, the comparison of Bitcoin final settlement to traditional final settlement is 10 mins vs 1-3 business days. The topic of the OP was about the inclusion of Lightning transactions at the point-of-sale. The Lightning network is somewhat comparable to credit card transactions in that it is not AS final as an on-chain transaction (although, unlike CC transactions, Lightning transactions aren't reversible--a 2nd Lightning transaction is needed for any kind of reverse payment / refunding activity. This means Lightning transactions are quite final, unlike CC transactions.), but it is almost instantaneous, like the credit card networks, and it can process millions of transactions per second, which is a huge leap in superiority over the credit card networks. It's also much cheaper than credit card transactions, which is why merchants such as Target would not only tolerate it, but welcome it.
Regarding the double-spend problem--the double-spend problem was solved by Satoshi Nakamoto in 2008.
discussion comment
3 years ago
@ceoaticeesangelsllc,
https://bitcoin.zorinaq.com/price/
discussion comment
3 years ago
If I was selling a pyramid scheme then I would have said something like, “you’ll get x dollars (or x%) for every person that you recruit. The more you recruit, the more money you make.”
Did I write that? NO! Because Bitcoin isn’t a pyramid scheme.
I’m totally fine with also recommending gold and real estate (I own some of both). But, if I’m intellectually honest, then I would have to admit that Bitcoin is superior insofar as these assets are used to preserve value over a long period of time (years). And, unlike gold and real estate, Bitcoin is actually useable as a convenient form of money.
🤷🏻♂️
discussion comment
3 years ago
https://twitter.com/IslandHodl/status/1513200692223266825?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/saylor/status/1513192316126863360?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/DocumentingBTC/status/1512838433626112006?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/CoinDesk/status/1512459561176813579?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/saylor/status/1450470672044539916?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/DocumentingBTC/status/1491071131797065728?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://twitter.com/w_s_bitcoin/status/1492511360193900547?s=20&t=5c1EAckyeGUxauvET8p4qQ
https://youtu.be/ko6K82pXcPA
discussion comment
3 years ago
"I've made half a mill on crypto since 2017"
"I just want to help people"
"Wake up! Stop acting so immature"
Yea, I don't see what's so funny. I never claimed that others can gain an appreciation of value of a half million dollars; to do that requires a decent amount of capital to begin with. Obviously there have been others who've gained significantly more than me, and others who have gained significantly less. What matters is that Bitcoin doesn't discriminate; it doesn't matter if you're a teenager in a poor family of Nigeria, a woman in Afghanistan, or Michael Saylor--Bitcoin serves its purpose indiscriminately, and that purpose is to serve as a hard, sound, digital, global money.
Yes, I sold a bunch of stocks and mutual funds as soon as I realized that Bitcoin was the superior investment. That's how it works in finance; when you realize you're wrong, you change your investment behavior. You might think you're fine to just invest in stocks and mutual funds, getting 7-10% return on average over many years, but guess what... the USD money supply has also been increasing at about 7.5% per year for over half a century. Haven't you ever seen a chart of the S&P 500 denominated in ounces of gold? Denominated in gold, the S&P 500 is currently valued at the exact same price as it was in 1964, and only a 317% increase (1.5% annualized increase) since 1916!
Maybe you guys don't realize that holding Bitcoin is just a way of freezing the value of your labor in time in order to protect it from melting away due to inflation. You can try to do the same thing with gold, or with real estate, but those are inferior assets--new gold is mined at a rate of about 2% per year, and real estate requires maintenance, property taxes, insurance, and it's not fungible.
The smart money figured it out already. That's why I wrote what I wrote. Stop acting so immature, I'm trying to help you.