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11320544 No.11320544 [Reply] [Original]

>bitcoin
>allows us to do business when inflationary fiat is busy with failing and getting trust back from people
>has a cost of production
>limited quantity kek
>can't be hacked due to how maths works
>can't possibly be hidden by states and banks
>the first hence most resilient crypto chain forever
>safe from asteroid mining
>email first, then bitcoin
>history prove that banks and states are insecure
>great value for humanity and anticorruption going forward
>normies don't get what I've said yet despite pump and media coverage in 2017

What are you waiting for anon? Get your bitcoin while you can, when inflationary fiat fails gold will not be used to continue making business

>> No.11320799

>>11320544
are you implying here that deflationary is a good trait for money? cause its fucking not. learn to econ 101 before you shitpost!

>> No.11320827

>>11320799
bitcoin literally isnt deflationary tho... it will remain inflationary until the year 2140.

>> No.11320840
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11320840

>>11320827
>tfw you'll be dead and won't witness the last mined Bitcoin

>> No.11320863

>>11320799
Show us your knowledge on economics and explain how and why "deflation" is bad

>> No.11321952

>>11320840
don't worry fren
the flippening will occur during our lifetime
you'll see the last bitcoin mined because eventually all the miners will repurpose their rigs.

>> No.11321974

>>11320799
it's a good trait for a store of value though

>> No.11322303

Apart from the obvious (but technically fixable) problems with bitcoin and other crypto like watts per transaction and transaction speed, here's my big issue with Bitcoin and why it won't have success as a means of transacting:

PayPal exists. A big thing about crypto supposedly is that all transactions are anonymous or at least pseudonymous, and transactions are irreversible.

Who here thinks those last two bits are a great way to buy shit online except when you're buying something illegal? Refunds and consumer protection with Bitcoin is fundamentally he honour system unless you start using transaction providers, which means your shit stops being anonymous, etcetc. And PayPal only really exists as a company due to that fundamental lack of consumer trust in the online transaction space. PayPal gets vendors to pay fees because PayPal essentially promises consumers they will take their side if shit goes wrong, and that convinces consumers to be less scared to part with their money. The conveniences offered in my view are secondary to that.

>> No.11322353
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11322353

>>11322303
>PayPal exists
PayPal fucking sucks, they can freeze your account and take all your shit.

>Refunds and consumer protection with Bitcoin is fundamentally he honour system unless you start using transaction providers
thats where smart contracts come into play, they make the whole thing trustless.

>your shit stops being anonymous
your shit was never anonymous to begin with.

>> No.11322380

>>11322303
you're talking about money

money is not the main point of bitcoin, money can and should be built on higher layer on top of bitcoin, but the core should be a secure store of value

paypal is as good as the money it is managing, guess what it is

if fiat fails and it will, why would paypal succeed