New research from BDC reveals that 9 out of 10 Canadians are looking to travel this year, despite economic concerns, with over half saying travel is central to their lives.
Edit: I have to laugh honestly… so the argument here is that it’s a bad idea to own decentralized and self-sovreign money when the government is evil? And the literally government regulated banks and markets are safe???
I always buy more bitcoin when I have these interactions online. Almost every time.
Though more practically at scale, the banks could lobby that every encrypted message on the internet has to be endorsed by a major corporation or else ISPs have to block it. Thus you can’t sync with the blockchain and you can’t sell your bitcoin for anything. It is yours but it is frozen.
Or, alternatively, the OS of the device you use to authorize bitcoin payments could have a backdoor so that next time you authorize a transaction, the device swaps the receiver to [insert megacorp] and the amount to everything in your wallet without telling you. Nobody is taking your bitcoin, you’re giving it to them.
And yes, as I said, the answer isn’t to put money in banks, but in supplies, barter goods, survival skills and social capital. Why sell bitcoin for a can of beans when you can have a can of beans? Why try to convince someone to accept bitcoin when you can give them clean bandaids or a drinking water filter?
Why pay someone bitcoin to fix the hole in your roof when you can help them set up solar panels? Why use bitcoin to hire someone to guard you from wrench attacks when you can have friends who will protect you for free?
All of this is breadcrumbing the way to anarchocommunism. Friendships and bonds of trust can not be stolen. Skills can not be expropriated. Hoards run dry but useful labor doesn’t.
You are free to buy more bitcoin. On my desk I have a Roman coin of someone who followed the same logic as you, 1700 years ago. It didn’t help them, but maybe you will have better luck.
Appreciate the effort, but if your argument is that the government/civilization will be so tightly controlled and apocalyptic that Bitcoin will surely die, then I’ll go buy some more again. I’ll also take a stab in the dark and guess that you’re American, as usually it’s only Americans who speak in a way that makes it sound like they’re the only country in the world (“the government”? Of what?? Every single country at the same time?)
If you think civilisation is going to die, then Bitcoin is a much worse idea than hoarding food. Yes, you got me.
The $5 wrench argument is cute until you realize you can beat someone with a $5 wrench until they give you their credit card PIN, or gold stored in their house, or beanie baby collection, or…
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Or how about a mini challenge? Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Edit: If you wish, I can make an xkcd-like comic that shows someone being beaten with a $5 wrench for their massive pile of food and emergency supplies. Uh oh.
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Bitcoin is a currency divided among wallets as described in the blockchain. The blockchain is a ledger file synchronized across all users. Bitcoin can fail when synchonization is lost, such as in the scenario I described where ISPs only allow encryption if it is authorized by specific organisations. Bitcoin can be sabotaged by hacking the software you use to transfer it. And bitcoin can be useless when people ostracize you the moment you mention having it.
Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Because in those cases bitcoin is more stable, being supported by the global bitcoin economy which in turn is supported by liberal capitalism. I intend to destroy the latter and boycott the former.
You did not describe how bitcoin works. You gave a short description of what it is, and then a list of objectively false statements.
Re: the $5 wrench. Store your Bitcoin keys in a secure location. It’s very simple to not give “your password” (it’s actually 12 or 24 words, not a password) when being beaten by a wrench if you don’t know it, like many Bitcoin users. Plus, plausible deniabilty - who’s going to kill you for not memorizing 24 random words when there are so many other ways to secure it?
“Bitcoin can fail when synchronization is lost”. No. In fact the whole point is that it’s so impossible to wreck the synchronization of the network. It doesn’t all have to be “in sync”, it’s decentralized so that bad actors cannot prevent it from running.
“Bitcoin can be sabotaged by hacking the software used to transfer it”. No. Common error, you am should say your Bitcoin can be sabotaged. The bitcoin network doesn’t care if you’re careless or ignorant… bitcoin will survive just fine, even if you lose yours.
“Bitcoin can be useless when people ostracize you in the moment for having it.” What?
"I intend to destroy (liberal capitalism) and boycott (Bitcoin). Ooooook bud. Bitcoin also doesn’t care about your political philosophy. People aren’t going to not utilize an inflation proof decentralized currency when inflation hits double digits and more.
Maybe we’re miscommunicating here. I’m not saying that Bitcoin is completely and totally invincible. But nothing is. And it’s more invincible than fiat currency by a wiiiiiide margin. And even more so than gold. Or stocks. Or real estate. Or anything you can come up with. It’s objective fact. And if think people are just suddenly going to stop using it and converting their hyperinflating currencies to it…I wish you luck.
Here’s the kicker to all this. Somehow a few loonies have gotten it in their heads that Bitcoin is capitalist, or elitist, or something. That’s the fucking funniest thing I’ve ever heard. Bitcoin is a direct threat to capitalist exploitation. Just because the rich are investing in it doesn’t make it capitalist. Rich are gonna rich.
You’re going to sit there and tell me Bitcoin is “supported by liberal capitalism” when literally no one controls it, the rules are public, the records are public… my god man. If you actually understood how it worked l, and I mean how it actually works, how a block is mined, how transactions are verified, how the network works… you’d probably lose your mind at having hand-waved it away in ignorance…
No one can take my Bitcoin.
First step is understanding it.
Edit: I have to laugh honestly… so the argument here is that it’s a bad idea to own decentralized and self-sovreign money when the government is evil? And the literally government regulated banks and markets are safe???
I always buy more bitcoin when I have these interactions online. Almost every time.
Relevant xkcd:
Though more practically at scale, the banks could lobby that every encrypted message on the internet has to be endorsed by a major corporation or else ISPs have to block it. Thus you can’t sync with the blockchain and you can’t sell your bitcoin for anything. It is yours but it is frozen.
Or, alternatively, the OS of the device you use to authorize bitcoin payments could have a backdoor so that next time you authorize a transaction, the device swaps the receiver to [insert megacorp] and the amount to everything in your wallet without telling you. Nobody is taking your bitcoin, you’re giving it to them.
And yes, as I said, the answer isn’t to put money in banks, but in supplies, barter goods, survival skills and social capital. Why sell bitcoin for a can of beans when you can have a can of beans? Why try to convince someone to accept bitcoin when you can give them clean bandaids or a drinking water filter?
Why pay someone bitcoin to fix the hole in your roof when you can help them set up solar panels? Why use bitcoin to hire someone to guard you from wrench attacks when you can have friends who will protect you for free?
All of this is breadcrumbing the way to anarchocommunism. Friendships and bonds of trust can not be stolen. Skills can not be expropriated. Hoards run dry but useful labor doesn’t.
You are free to buy more bitcoin. On my desk I have a Roman coin of someone who followed the same logic as you, 1700 years ago. It didn’t help them, but maybe you will have better luck.
Appreciate the effort, but if your argument is that the government/civilization will be so tightly controlled and apocalyptic that Bitcoin will surely die, then I’ll go buy some more again. I’ll also take a stab in the dark and guess that you’re American, as usually it’s only Americans who speak in a way that makes it sound like they’re the only country in the world (“the government”? Of what?? Every single country at the same time?)
If you think civilisation is going to die, then Bitcoin is a much worse idea than hoarding food. Yes, you got me.
The $5 wrench argument is cute until you realize you can beat someone with a $5 wrench until they give you their credit card PIN, or gold stored in their house, or beanie baby collection, or…
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Or how about a mini challenge? Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Edit: If you wish, I can make an xkcd-like comic that shows someone being beaten with a $5 wrench for their massive pile of food and emergency supplies. Uh oh.
If you’re issuing challenges, then I have a challenge for you: How do you defeat the $5 wrench? I have given the answer, but can you comprehend it?
Of the person reading this sentence, obviously. In my case EU lawmakers are making moves to restrict encryption which would make Bitcoin non-secure.
Bitcoin is a currency divided among wallets as described in the blockchain. The blockchain is a ledger file synchronized across all users. Bitcoin can fail when synchonization is lost, such as in the scenario I described where ISPs only allow encryption if it is authorized by specific organisations. Bitcoin can be sabotaged by hacking the software you use to transfer it. And bitcoin can be useless when people ostracize you the moment you mention having it.
Because in those cases bitcoin is more stable, being supported by the global bitcoin economy which in turn is supported by liberal capitalism. I intend to destroy the latter and boycott the former.
You did not describe how bitcoin works. You gave a short description of what it is, and then a list of objectively false statements.
Re: the $5 wrench. Store your Bitcoin keys in a secure location. It’s very simple to not give “your password” (it’s actually 12 or 24 words, not a password) when being beaten by a wrench if you don’t know it, like many Bitcoin users. Plus, plausible deniabilty - who’s going to kill you for not memorizing 24 random words when there are so many other ways to secure it?
“Bitcoin can fail when synchronization is lost”. No. In fact the whole point is that it’s so impossible to wreck the synchronization of the network. It doesn’t all have to be “in sync”, it’s decentralized so that bad actors cannot prevent it from running.
“Bitcoin can be sabotaged by hacking the software used to transfer it”. No. Common error, you am should say your Bitcoin can be sabotaged. The bitcoin network doesn’t care if you’re careless or ignorant… bitcoin will survive just fine, even if you lose yours.
“Bitcoin can be useless when people ostracize you in the moment for having it.” What?
"I intend to destroy (liberal capitalism) and boycott (Bitcoin). Ooooook bud. Bitcoin also doesn’t care about your political philosophy. People aren’t going to not utilize an inflation proof decentralized currency when inflation hits double digits and more.
Maybe we’re miscommunicating here. I’m not saying that Bitcoin is completely and totally invincible. But nothing is. And it’s more invincible than fiat currency by a wiiiiiide margin. And even more so than gold. Or stocks. Or real estate. Or anything you can come up with. It’s objective fact. And if think people are just suddenly going to stop using it and converting their hyperinflating currencies to it…I wish you luck.
Here’s the kicker to all this. Somehow a few loonies have gotten it in their heads that Bitcoin is capitalist, or elitist, or something. That’s the fucking funniest thing I’ve ever heard. Bitcoin is a direct threat to capitalist exploitation. Just because the rich are investing in it doesn’t make it capitalist. Rich are gonna rich.
You’re going to sit there and tell me Bitcoin is “supported by liberal capitalism” when literally no one controls it, the rules are public, the records are public… my god man. If you actually understood how it worked l, and I mean how it actually works, how a block is mined, how transactions are verified, how the network works… you’d probably lose your mind at having hand-waved it away in ignorance…