That was a crazy ponzi wave.

That's exactly what is coming next, when those notes we were discussing the other day become a reality by June '20 in the 38 countries that are members of the accord. Every wallet service will have to register and every wallet owner will have to register as well (no this is not the same as kyc, its a step or two beyond). If you are using the wallet for anything other than a one off purchase, even as an individual, you will also have to register as a "virtual asset service provider" anywhere you send crypto, which is akin to a paypal business account. If you want to send crypto to another service provider, like from one wallet to another, both wallets or whatever services you use will have to share info about the transaction including aml kyc profiles. That just scrapes the surface and doesn't account for the remaining rules being introduced now, and still those practically destroy the fundamentals on their own. When you cannot grasp what that means for the demand of these ****coins, you are lost at sea.

Can we bet on which previous name jbouton was using?

ofc there is transactional use cases u can buy yachts, condos, islands, G4s, whatever the **** you want

^^ old school GOAT

rough waves this morning

Housenuts working that magic!

That puts u in the debate where as cool timer wont accept the priors.

But what voskuil points out is that its the transactions u can do at a lower cost or that u cant do with traditional systems that truly add to the value of the network. That should be the question.

Like most non-******ed people he probably likes the things that the dollar can be invested in like stocks, bonds and real estate. Holding cash (or crypto cash) is a fools errand. You continually invest your earnings and it grows. If you let it sit in cash you lose and if you speculate in dodgy things like crypto you likely lose faster.

But what if you don't want to or know how to invest your money. Or what if you don't understand how quick you are losing purchasing power by just hodl'ing USD? Seems like the these people might be better off holding a non-inflated currency!

Also, what about the plebs with just their salary and no assets/very little savings. They can buy less with their salary each year. Seems like they might be better off with an economy ran on a fixed supply currency!

No you are turning it upside down. I accept I need to be able to spend to store value in it. But other people don't accept the reverse of storing value being a use case.

Btw, spending = selling. Selling BTC for USD is spending. This is part of storing value, just like gold.

Can you link to Voskuil? Value is subjective and he states several times he can't make value judgements for other people. So I'm curious to read about him saying this stuff about adding value to the network.

You are literally a silverbug mate.

I hope it works out for you guys, I truly do.

Why do you need to use btc like a currency? It's got a perfect use-case, to store your wealth!

Richard Heart said something like you can't buy anything with stocks either. Do investors really care if you can buy **** or not? No, we just care that the price goes up!

BTC is arguably a better alternative to storing wealth compared to gold.

Secure, censorship resistant. Who knows how corrupt the government or other bodies become in the future, we might value BTC a lot more in the future.

Owh and you can send it anywhere in the world for any amount for a few $$. No need for a 3rd party to overlook and ask questions, nobody to stop you from sending or receiving it.

Banks are getting worse and worse, so too are governments, BTC will be a necessity within 10 years!

American banks such as Wells Fargo won't even let you buy crypto with your money!

Think bout that for a second. A bank is telling you what you can and can't buy with your own money!

If you don't think it's a big deal, then you should take a real good look at yourself and see if you are completely brain-dead.

Very clear that banks have too much power, they shouldn't be allowed to tell you how to spend your money, they should be there to hold your money only! Period!

Why are you putting "your own money" in a bank?

It seems pretty unlikely this demographic is going to be buying btc.

Libra is totally decentralized guys... just like whales, miners, MerlinMagoo's have no control over this market.

And this type of framework is also coming here, for this coin. You cannot avoid that reality anymore. VASP controls coming for your hodlings. Cannot kill bitcoin? You sure can deflate the **** out of the price! Make your $, but stop espousing this dream of utopian bs. you're here to get rich without working for it, stop lying to yourself and others.

Never owned silver or gold, but I guess there are a lot of similarities. Bitcoin being a huge improvement though.

I also hope the decision to not own works out for you, I truly do.

The people u mean to debate with are asking for transactional use cases in regard to using bitcoin for purchases. They want a reason it will hold its value that is other than speculation. Its far easier to give some examples than to try to change their core beliefs.

Edit: transactional use cases in order to speculate dont count to these people


Voskuils works is here: https://github.com/libbitcoin/libbitcoin-system

Im a good translator of it if something isnt making sense

Bitcoin goes from 77 cents at the start of this thread to $10,000

"I hope this bitcoin thing works out for you guys, I really do"

Spoke with 3 Republicans. Their main concern seemed to be about Libra. One staffer did know what he was talking about and was very familiar with the space. For the most part at all my meetings I was trying to distance traditional crypto projects (btc) from Libra. Told them they may have concerns with Libra but don't overregulate and paint it all with the same brush. The 3 Republicans seemed all pro innovation, pro freedom, and not intent on regulating this space to the ground. Only one of them, in passing, mentioned the possible threat to the USD. I'm optimistic. Potential for general hearings on crypto in September. We'll see.

LOL. Or you 50x

did a pretty good job calling the bottom with this limit order. shoulda set LTC for $80 however.

For the love of god stop buying Zcash. I always wonder how these coins maintain ridiculous valuations. It's because of suckers like you that keep buying no matter what because... reasons?

Zcash currently has 10 times (!!) the monthly inflation of BTC. Also nobody uses it. For anything. Ever.

1) it's 5% of my portfolio

2) Zcash has the same supply limit and inflation as Bitcoin, except Zcash was launched ~7 years later and hasn't had a halving yet.

3. its inflation rate is currently 50 ZEC every 10 minutes. Guess what BTC's was from 2009-2012? if you guessed 50 BTC every 10 minutes you would be correct.

plenty of armchair QB's in this sub. how many are actively long or short over 6 figures? i'd guess very few.

Do you know anybody ever that has transacted in Zcash regularly?

How many people are passionate about running a Zcash node around the world? I would guess less than 100.

If Zooko wanted to change the founders reward and/or supply schedule do you think anyone could stop him?

It's ironic because the halving is actually terrible for Zcash. No one will ever regularly transact in Zcash so there's never going to be any mining fees. Without a decent block reward this thing will lose hash power and death spiral.

And yes, plenty in this thread are long 6 figures. Some who rarely post are 7 and 8 figures long. I wouldn't be surprised if someone who has posted in this thread is currently 9 figures long.