You can edit comments, but only for five minutes after you post it. Furthermore, for unknown reasons, if you do edit a post, it may be sent to “moderation”, which will cause it to vanish for a couple days.
Steve_R
2 years ago
it will be interesting to see how many US corporations have Bitcoin and other cryptos on their books this quarter. Tesla, Visa, Mastercard, Square, Paypal are a few that have it already.
Six000mileyear
2 years ago
The situation governments fail to acknowledge is that no infrastructure connected to the internet is safe from hacking. Consumers pay one way or another. Prices would be higher to processes paper bills, or people will have to do without basics during a cyber-attack. The greater of the two risks is doing without basics since people could die from lack of food, water, heat/cooling or medical attention.
Dutoit
2 years ago
I think there is another piece: that I would call “black market”, all that corresponds to drugs, human trafficking, gun trafficking. Maybe it is a market, not easily accessed by most people, but probably huge, and in that in this market, bitcoins coming from ransomware can be used, completely hidden.
caradoc-again
2 years ago
The more BTC is used, and advertised, as a means of rewarding nefarious actions there ids more justification for CBs and law enforcement to ban it. This is another small nail in the coffin.
MediaReader
2 years ago
I’m still roiling over the fact that like ALL monetary systems the bulk of Bitcoins are owned by only a few and those few advocate heavily for it. How is this different than any other fiat? I’d have greater respect for Bitcoin if it had been more evenly allocated to the 7.5 billion people to start – that would truly show me the intent for something that was supposed to be open and fair. Instead it’s the hands of a few who’s intent seems to have been to create personal wealth. It’s certainly not a store of value for all the people on this planet – just another system of wealth extraction/consolidation.
Bitcoin, or any other crypto, can be quickly converted to a stablecoin. Volatility of holding crypto is being solved and will soon be a non-issue. Remember, this is an EMERGING technology. People can fight it all they want but it will soon be dominant. Central banks recognize it. Most of the world is WAY ahead of the US in terms of adoption.
Eddie_T
2 years ago
If bitcoin transactions (in the US anyway) weren’t taxable events (each and every one is, to my knowledge)…and if bitcoin wasn’t incredibly slow to post to the ledger (it is, and the more it’s used, the slower it gets)…..and if it were unhackable because it was really and truly decentralized ( it isn’t)…and if it weren’t a full blown environmental disaster (it is)…..then BTC might gain acceptance for point-of-sale.
But because of all those things and one more, it won’t happen. The “one more” thing is that money creation is a monopoly of the International banking cartel.
That’s the MAIN issue. Because there ARE other cryptos that solve all the problems that BTC, by its design. can never solve. But they won’t be allowed for point-of-sale either. Only sovereign cryptos will prevail, in the longer run.
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Mackintosh: Money was created because early humans found it so inconvenient to barter with pigs, llamas or berries.
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I disagree. Money was primarily created to allow for credits and debits everyone trusted to enable paying tomorrow from something delivered today.