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Merged Bitcoin - Part 3

I went into an old wallet and found like zero bitcoin but it was enough to buy a few shrimp po boys at a joint near here that takes bitcoin.

It isn't all that prevalent these days, but it happens.
 
plague311 said:
I, of course, do none of these things. It's also not secret. There's a bank transaction when I pull money into Coinbase, and then transaction history when I transfer it over to WETH and use it to run my horses.

So, this is complete and total ******** and actually pretty ******* insulting if you ask me. What a rude ass thing to say.
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What does crypto actually add to the virtual horse racing/trading game?
 
ponderingturtle said:
What does crypto actually add to the virtual horse racing/trading game?
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Why does it have to add anything? It's a simplistic method to bet on, and receive payment, when doing the horse racing.

What does you bitching about it add to anything? Exactly, nothing. It's just something to do to kill some time. There is no requirement that it add something because I'm not looking for anything to be added. It's something I do that is entertaining and fun to me. If I wanted, or felt the need, to do it another way, I would. I don't.
 
plague311 said:
Why does it have to add anything? It's a simplistic method to bet on, and receive payment, when doing the horse racing.

What does you bitching about it add to anything? Exactly, nothing. It's just something to do to kill some time. There is no requirement that it add something because I'm not looking for anything to be added. It's something I do that is entertaining and fun to me. If I wanted, or felt the need, to do it another way, I would. I don't.
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Because we need reasons to invest in it and demonstrate it is something other than a bubble.
 
ponderingturtle said:
Because we need reasons to invest in it and demonstrate it is something other than a bubble.
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I don't care if you invest in it and it's certainly not on me to give you reasons to do so.

Don't.

I encourage you not to invest in it at all as it totally might be a bubble.

There, settled. Glad I could help.
 
plague311 said:
Why does it have to add anything? It's a simplistic method to bet on, and receive payment, when doing the horse racing.

What does you bitching about it add to anything? Exactly, nothing. It's just something to do to kill some time. There is no requirement that it add something because I'm not looking for anything to be added. It's something I do that is entertaining and fun to me. If I wanted, or felt the need, to do it another way, I would. I don't.
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Why do you think the developers opted for NFT over another system?

I suspect that the novelty of crypto, and the association with get-rich-quick success stories, played no small part.
 
SuburbanTurkey said:
Why do you think the developers opted for NFT over another system?
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I don't think about it because I don't really care.

SuburbanTurkey said:
I suspect that the novelty of crypto, and the association with get-rich-quick success stories, played no small part.
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You may absolutely be right. That might be the absolute reason.

Now what? Now what do we do? Where did that lead us and what does us reaching that conclusion change for me?

I mean, I'm already a ******* heroin buying, child porn watching, hitman hiring piece of ****. I can't imagine this makes me any worse.
 
plague311 said:
I don't think about it because I don't really care.



You may absolutely be right. That might be the absolute reason.

Now what? Now what do we do? Where did that lead us and what does us reaching that conclusion change for me?

I mean, I'm already a ******* heroin buying, child porn watching, hitman hiring piece of ****. I can't imagine this makes me any worse.
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To be honest, I don't really find it that objectionable that people can buy heroin with crypto. The silk road days were, in hindsight, some of the less objectionable ones when it comes to crytpo. May God bless those people buying "research chemicals" off the dark web, if they're still alive.

The pointless and exorbitant waste that comes with Proof of Work based NFTs is what leads me to scorn the technology. Even if not engaged outright fraud, which is rampant, there is no way to interact with this technology that isn't a giant nuisance to the public.
 
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SuburbanTurkey said:
To be honest, I don't really find it that objectionable that people can buy heroin with crypto. The silk road days were, in hindsight, some of the less objectionable ones when it comes to crytpo. May God bless those people buying "research chemicals" off the dark web, if they're still alive.

The pointless and exorbitant waste that comes with Proof of Work based NFTs is what leads me to scorn the technology. Even if not engaged outright fraud, which is rampant, there is no way to interact with this technology that isn't a giant nuisance to the public.
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Really I blame Nancy Reagan.

I mean, without the war on drugs leading to a political environment where financial surveillance was normalized only to get worse and worse every chance government had a scary pretense there would be less use for this.

A lot of users are those doing perfectly legal things that have a chance of setting off false red flags leading to kyc bank headaches and sometimes getting accounts closed which can be a whole bunch of headache.

One thing is that the UGEIA has caused some overreactions by pretty much anyone handling a financial transaction if they even begin to maybe suspect it is gambling related as internet gambling isn't generally illegal but woe to thee that processes a financial transaction related to unlawful gambling.

I mean, if I went back to playing serious poker I'd probably use it to move money around because most people doing that are in crypto and if I'm driving 200+ miles to a tournament series I'd rather just go there and sell off 20K in crypto for cash to someone I know rather than carry bricks around because that isn't wise at all. I mean, not only getting robbed but the occasional civil forfeiture nightmare.

Some heavy private games use it rather than have cash laying around. Send some to the guy running the game and get winnings back the same way.

I'm half worried that I'm going to have paypal trouble because my disc golf league handles the $5 weekly entry and prize payouts over paypal... They can get pretty wild about stuff like that.
 
Suddenly said:
Really I blame Nancy Reagan.

I mean, without the war on drugs leading to a political environment where financial surveillance was normalized only to get worse and worse every chance government had a scary pretense there would be less use for this.

A lot of users are those doing perfectly legal things that have a chance of setting off false red flags leading to kyc bank headaches and sometimes getting accounts closed which can be a whole bunch of headache.
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Actually the war on drugs started in earnest in the 1930s when after prohibition, all these federal police needed something to do.

Richard Nixon was the one who called it a "war" on drugs and vowed to pursue it relentlessly. Republican presidents since have also vowed to continue this war on drugs (crickets from Democrat hopefuls).

Of course, the posters here who declare that only criminals would want a crypto are fully supportive of this war (otherwise, why care?)
 
psionl0 said:
Really? How easy or cheap is it to transfer say $10,000 to a relative in a different continent?
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Cheaper to do it via a bank transfer than with bitcoin, especially if you take into account the environmental costs.

No, I mean the question that I actually asked. Of course, you wouldn't dare answer in the affirmative so you answered a strawman instead.
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But the question you asked is based on a false premise which is that the government has the capability or desire to monitor everything you do online. For the most part, they just want you tp pay your taxes.

BTW you have just made an argument for outlawing all forms of cash.
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That's true. What's your point?
 
psionl0 said:
You could transfer a million dollars (about 30 BTC) to anyone, anywhere within minutes for the cost of about $3. Can any of these centralized systems compete with that?
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27 today, about 26 yesterday.

Transaction fees are cheap at the moment because of the low volumes. If BTC ever got popular, things would change. Personally, I'd also be concerned about converting the BTC back to USD because I'm very sceptical about the liquidity of the market. What would trying to sell £1,illion of BTC do to the price (note I'm talking about actual dollars, not the Tether scam).
 
jeremyp said:
Cheaper to do it via a bank transfer than with bitcoin, especially if you take into account the environmental costs.
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Not to the transferor it isn't. The fact that bitcoin uses proof of work does not justify you making false non-sequiturs.

jeremyp said:
But the question you asked is based on a false premise which is that the government has the capability or desire to monitor everything you do online. For the most part, they just want you tp pay your taxes.
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This is pure nonsense and doesn't address the question.

jeremyp said:
That's true. What's your point?
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That you are a totalitarianist and your hatred of bitcoin is based solely on the fact that its use can't be controlled by the government.

jeremyp said:
27 today, about 26 yesterday.

Transaction fees are cheap at the moment because of the low volumes. If BTC ever got popular, things would change. Personally, I'd also be concerned about converting the BTC back to USD because I'm very sceptical about the liquidity of the market. What would trying to sell £1,illion of BTC do to the price (note I'm talking about actual dollars, not the Tether scam).
No.
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ftfy.
 
jeremyp said:
Cheaper to do it via a bank transfer than with bitcoin, especially if you take into account the environmental costs.
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There is also the point that you are moving money instead of bitcoin so you have two more transactions first to change the money into bitcoin then to change the bitcoin back into money.

I still wonder why these people are trying to anonymously transfer large sums of money to africa.
 
psionl0 said:
You could transfer a million dollars (about 30 BTC) to anyone, anywhere within minutes for the cost of about $3. Can any of these centralized systems compete with that?
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1 - You asked about $10,000, not 30 BTC. If my friends or family needed $10,000, they would want $10,000, not "X BTC."
2 - The answer was already "relatively easy and cheap" before you moved the goalposts to "a million dollars" - which, let's be honest, is not a common amount for friends and family transfers.
 
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