discussion comment
4 years ago
Using USD to purchase depraved content online has shortcomings (to the criminal) that bitcoin doesn't. If someone wanted to buy content online using USD their card could be connected to them somehow, if its a credit card, debit card, or even a gift card because the FBI can look into nowhere the gift card was bought and go from there.
If the criminal decides to buy it with physical cash there's a scaling option where the more content they sell the more face to face interactions they'd have.
With bitcoin however, all a criminal has to do is use a bitcoin mixer to make their purchase from the comfort of their home and the content is downloading while they're safe and sound.
At this point bitcoin really doesn't have an argument that the USD is used for illegal things too. Its important to acknowledge this to anyone who you try to get into the crypto space.
discussion comment
4 years ago
Sancho- that's your individual right. My goal is to educate people on the depravity of bitcoin. Hell, me telling people it can be used to buy terrible things online might have even caused people to go into it. I have faith however that as I educate more people they'll write to their congressman and senators to get bitcoin outlawed in the US.
Crazy thing is even if you discounted how terribly immoral it is, bitcoin also functions bad currency.
Upright- I understand it can be frustrating to have your beliefs challenged. Even if you don't answer my concerns I hope you come to terms with bitcoins major faults on your own for your own personal development.
discussion comment
4 years ago
I don't understand why you can't just address my concerns regarding fed policy during the pandemic and bitcoin mixers being used to buy animal torture videos and underage children videos.
My goal also isn't to convince bitcoin cultists that they should stop, its actually so people who are indifferent or curious about can research on their own and decide they don't want to be part of something so terrible.
Notice none of these cultists have addressed my concerns. They're so far into the kool-aid they've convinced themselves they're smarter than everyone else.
discussion comment
4 years ago
@uprightcitizen bitcoin addresses are very difficult to link to a person. There's also something called bitcoin mixers which mix people's bitcoins together so they can anonymously buy horrible content online.
The printing is get people through a pandemic. Imagine if bitcoin were the primary currency. A central authority couldn't support people socially distancing by controlling monetary policy. We'd all be fucked. The decentralized currency should actually be debunked from the 2020 fed policy not being emboldened by it
discussion comment
4 years ago
The whole there's a finite number of bitcoin argument is hilarious to me, it can be broken down that its lowest value is at 2,100,000,000,000,000 Satoshi.
Also yeah bitcoin is used for criminal activity in buying animal torture videos and underage children videos. I don't really care about the drugs.
I also love for a central authority to be in charge of monetary policy. How would the US survive if bitcoin were the main currency during corona?
discussion comment
4 years ago
@FTS Marks not too far off on the biggest pro of bitcoin you've listed so far.
discussion comment
4 years ago
If you're confident you can keep your bitcoin safe and secure plus enjoy using it more power to you.
I'd hate the stress of losing my keys/cold storage. I don't think modern banking is perfect but the added work of needing to manage my own bitcoin storage is just not worth it for me. Either way, that part of it is pretty low on my cons list.
discussion comment
4 years ago
Yes those things are possible Sancho,
Banks do a risk assessment and decide it could be worth it to loan fiat with crypto as collateral, I'm not much into that field to comment if its a smart move or not but people much smarter than me in it have decided the risk/reward is worth it. There are also alot of people who won't. Guess you only need to find one.
As for the no social security thing... that's probably one of my biggest issues with it. Someone who sells illegal content online like animal torture/ underaged children videos can safely store money without it being tracked.
The pros of bitcoin is also its cons that needs to he acknowledged.
discussion comment
4 years ago
I wouldn't say the fed printing money to support people while they try to social distance during a global pandemic buying into a "sick and twisted perspective."
Your entire paragraph reads like a year one undergrad's first assignment.
What would an Austrian economist do for the corona virus?
discussion comment
4 years ago
50/50 bonds sp500 etfs is the starting point I give to people who don't know their time frame and their risk tolerance. 1 year ago corona was something on the news, so if they just started investing and did 100% stocks only to see it drop in March would panic. If their job is threatened too they might just eat the loses so they have money. In a 50/50 portfolio they have the flexibility to sell only the bond portion, or even sell the bond portion to buy into the stocks. Im at 70% stocks and 30% bonds. During the March crash last year I rebalanced when my bonds were at 50% and bought stocks on the cheap.
The bonds just give alot of flexibility with less downside than people would think.
discussion comment
4 years ago
It depends on your risk/moral tolerance plus time window. In general you can't go wrong with a 50% bond etf/50% sp500 etf then just rebalance if the allocation goes beyond your risk tolerance.
I'd be happy to assist if you have more questions.
discussion comment
4 years ago
Their scheme***
discussion comment
4 years ago
For those uninitiated in the Sharpe Ratio -
The Sharpe Ratio is a financial metric often used by investors when assessing the performance of investment management products and professionals. It consists of taking the excess return of the portfolio, relative to the risk-free rate, and dividing it by the standard deviation of the portfolio's excess returns.
Essentially FTS is saying bitcoin goes up so its a good investment. This is a fallacy.
(For those uninitiated fallacy is a mistaken belief, especially one based on unsound argument.)
He makes no comments challenging my criticism of bitcoin and the technology. This is pretty similar to how a pyramid scheme inductee might react when they're scheme gets called out.
discussion comment
4 years ago
**previous posts. The preciousness of my posts is up for debate...
discussion comment
4 years ago
I understand, but it really adds nothing to the debate or the points I've made in my precious posts.
discussion comment
4 years ago
How are you going to call my hate misplaced?
I hate it because it can't be controlled by a central authority which is the number one selling point of bitcoin, lol. This means that people can pseudoanonymously buy content like animal torture videos on the dark web without a central authority like the US govt stopping it. I also don't like it cause its deflationary, inflation is good for the economy a deflationary currency is not good at all.
Also yes the money supply has increased but you're missing the context of a pandemic and public health crisis where a central authority can just print money to keep people afloat where the other option would be to have people working as normal and inundating our hospitals and alot of people dying. The American people clearly like the printing money option more than that one. No "fiat lovers" thinks the increased money supply is good, but we understand its preferable to nothing and having people on their own during a pandemic.
Imagine if bitcoin were our currency for this, there'd be chaos. This isn't misplaced hate, its genuine criticism of bitcoin that just gets dismissed as a salty nocoiner spewing garbage.
discussion comment
4 years ago
I'm an open fervent hater of bitcoin. I hate it for the technology that it is, I will hate it at 47k, I will hate it at 47 cents.
Its a shit technology and reading literature from crypto cultists makes me chuckle.
Notice none of my genuine criticisms ever get answered, these guys just point to the price. Its a decentralized pyramid scheme where people are convinced to buy in at a higher price, eventually it'll come crashing down.
discussion comment
4 years ago
The salt in this thread is enough to build a mound bigger than everest.
discussion comment
4 years ago
I have an update on this in case anyone was wondering...
I told her I was done spending on her ITC, she then pouted and told me she thought our relationship was truly special and blah blah blah. I told her if she felt that way we could meet OTC and I'd pay her more for it and made my expectations clear what would happen, after a long pause I told her she has my number when she decides, but for now I'd like to talk to other dancers and politely told her to go away. She slunk away but she'd constantly talk to other customers around me and was all over them and would constantly make "woooooo" noises when she asked them for a shot, she normally isn't like that. This was in early/mid November. She hasn't texted me yet and we haven't spoken at all since then so I guess no drama besides that first night came out of it (thank god).
Now I have a low volume (I think) OTC date I can see once every two to four weeks.
discussion comment
4 years ago
Thank you FTS, will do.
I'd like to make sure you(or anyone in your downline/whatever your pyramid scheme calls whoever you recruit in) do not lose their pedo pesos.
https://nypost.com/2018/05/26/i-accidentally-threw-away-60m-worth-of-bitcoin/
^Here is an article of someone who lost their passcode or threw away their cold storage and lost their pedo pesos forever. I am glad my fiat institution(bank) doesn't have that problem. When I was younger I would routinely forget my password and yet I could still access my account by calling them and answering some basic questions.
With the passing of Jeffrey Epstein there is no longer a bitcoin customer service to call to assist in recovering your pedo pesos/bitcoin.
I may be poor, but I am confidant the measly amount of money I have is secure and safe.
discussion comment
4 years ago
@Lone Wolf. Replace "bitcoin" with "beanie babies" and your sentence would still make sense.
Bitcoin and crypto is shit invention with the way it functions. It is a decentralized ponzi scheme. If someone gained fiat on it its because someone else lost fiat
discussion comment
4 years ago
I'm glad bitcoins rising up some of the comedy godl I've read on r/bitcoin is hilarious.
I feel bad for everyone who has been hurt by such a shitty invention though.
discussion comment
4 years ago
![]()
TetradonI'll act nicer if you'll act smarter.
I like trolling basement dwelling bitcoiners.
Its completely ironic.
discussion comment
4 years ago
Dunfallendy- most of the clubs operate as restaurants so no electric blue is still open.
discussion comment
4 years ago
Tetradon- yes Electric Blue is open. I'd plan on staying there for an hour max and depending on what you want I'd bring $400 to be safe. Tell dancers you've been there before covid-19 and do "everything" in the back to avoid being scammed. I've brought friends there before and because they didn't negotiate before they got fucked over in a bad way. Basically every girl is also up for OTC but I only trust one of them to actually follow through on it.
Its been hit or miss for me since covid-19 started.