Everything that's wrong with Bitcoin in one picture
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Replies (46)
Most people only want to hear that Bitcoin is going to be worth millions because all they actually care is getting richer. It's understandable. Not what I like to see, but understandable.
Keep writing ✍️ the good fight 🗡️
Saylor is dodgy AF, yes.
It’s not Bitcoin, it’s every single freedom tech. I’ve met 3 people in the wild that use Linux personally.
Do you know who else uses Linux?
99% of Big Tech.
I’ve only heard of a second hand account of someone using Signal IRL in my world. Do you know who was using it? Local politicians
Every fucking time.
I'd say good on them, except the fact that they want it to be worth millions. Millions of what? Fiat shitnotes? They've clearly got the wrong measuring stick. Instead of measuring purchasing power, they want to measure their wealth in fiat shit notes, which is not helpful. They completely missed the point of freedom tech.
These people will leave (or learn!) when NGU ends.
Poor opsec will only rob you of your NGU anyway!
Lessons will be learned the hard way on why you need to focus on Privacy Go Up technology
Everything wrong with the very fiat Bitcoin Magazine, you mean. This is the culture they attract.
yeah, i've been saying this also, these insane new european diktats about hardware and force-kyc won't affect a lot of government and military/intelligence and investigator type orgs, who will either get license to bypass it or bypass it covertly anyway.
there is never a case where nobody needs... privacy... bitcoin... tor... etc... this is why no matter what insane shit the politicians do, they can't eradicate it. their bureaucracy depends on it. so there is always gonna be a way around it, if you do your research.
It’s the problem with people
Here for the platitudes like "Bitcoin is for everyone"
Saylor is a spook
Unit of account will be the last domino to fall. When they say dollars, they mean purchasing power.
I listened to a Zimmerman interview about bitcoin this year & he talked about how it's used by criminals and imo didn't seem particularly supportive of bitcoin and I was surprised he even gets interviews on the subject. At least Saylor has a solid understanding of it even if we disagree with some of his views.
Respectfully is there a simple nostr answer say a 55 year old uncle, convinced at Thanksgiving dinner bitcoin is great, how to just go buy some bitcoin and use it to support the bitcoin economy in a digitally private way (free of disclosure / kyc / a centralized issuer)? Set aside the sold storage issue - assume the uncle has that down pat. How does he get the digitally private BTC?
Saylor can tell the uncle in 10 seconds how to buy MSTR or FBTC shares and how to sell them for fiat later on to support whoever and Saylor would not need to recommend wearing a mask, turning off his phone speakers or location service, or include tips on avoiding wrench attacks. I really do not mean disrespect. I am not trolling. I do think my question explains the view discrepancy though.
So you want them to say OMG, did you see? A Bitcoin is now worth 4,000 oranges! Or 59 tvs. ? That's insane. You need a unit of account. Currently that unit of account is in dollars for most people globally.
Don't like that saying eh?
I like it, but I also like making fun of parrot NPCs
That's exactly what I want to see.
For example, every time I see somebody post a price in Fiat on XMR Bazaar, I message them and ask them if they can price their item directly in Monero.
The more people who use Monero as a unit of account directly, the less often the fiat price must be referenced, which gives the exchange traders less power over price movement.
we are all satoshi
be the change that you want to see in the world
I have to admit that it took me a while to get it. My first impulse was: “no, but that will make the sellers change the price every time the price of #monero rises vs the FIAT”
Then a second thought was “but actually it has a lot of sense”:, Aren’t prices rising and quality dropping because of the fiat? 🤔
That's a good point, and since sellers are selling physical goods and services directly priced in Monero, it causes the Monero price to slow down its change rate, so it's not changing at the speed of algorithms, it's changing at the speed of humans.
If a seller chooses to change the price, say once a month, that means that for that month, you must give that seller that amount of Monero to obtain that good or service, no matter what the exchange price says it is.
This causes the volatility to drop.
When you say “this causes volatility to drop”, volatility against what? Fiat?
I wonder how we could calculate the price if it’s totally delisted.
It causes volatility to drop against fiat, yes, but it also causes the volatility to drop against other goods and services of the same variety.
If somebody is selling an old laptop, for example, then you can get a feeling of how much an old laptop will go for, even without the fiat price.
Now if there are 10 old laptops of different varieties and in different conditions, then you get a spectrum of what old laptops will go for. And you definitely don't need to look at the fiat price to get a feeling of what you should charge.
The first person to sell an old laptop directly priced in Monero has to look at the fiat price and then after that people need to look at the fiat price less and less
How volatility will drop against fiat when fiat is depreciating way way faster because of the hyperinflation?
I mean, in the best of the cases, say we had an organic growth, steady, there will always be speculators (and they are desirable, and needed) therefore volatility (at least till some level) will always exist, at least as far as the majority is connected to fiat somehow
Also, it won't be totally delisted everywhere, as there's always decentralized exchanges such as RetoSwap and atomic swaps. If worst came to worst, we could calculate what the fiat price would be by using the Monero to Bitcoin exchange rate and then using the Bitcoin to fiat exchange rate for that amount of Bitcoin. But that would be a worst-case scenario.
During a hyperinflation scenario, volatility will just be bad anyway.
For a non-hyperinflationary scenario, such as we are in right now, if a buyer thinks that they can get the item cheaper in Fiat, they will sell their Monero on an exchange for Fiat, which will pull the price downwards towards a moving average.
If the buyer can get the item cheaper in Monero than they can in Fiat, they will buy Monero on an exchange with their Fiat, which will push the price up towards a moving average.
But I guess haveno or RetoSwap is getting the price from somewhere and then the users add the premium. Even the price XMRBTC has to come from somewhere otherwise the users of haveno have to use a “fixed” price and that would be nuts and fun considering the volume there
Currently they get their price by averaging out the price on several centralized exchanges and using that.
However, on Reto, right now there are an average of 35 trades per day. Once that number rises significantly, you could very well turn off the feeds from the centralized exchanges and just depend on arbitrage to fix the prices properly.
At an average of 35 trades per day, that's one trade on average every 40 minutes. That number would definitely need to come down first, but I think that will occur over time.
this is retarded.
it will happen naturally with out the “awkchually” bro messages.
You do you boo boo. Meanwhile i will work to speed up the natural process.
you’ll just slow it down. 😂
That has not been my experience so far.
There's been a couple of people who have said no, they wouldn't do it. But the vast majority of people are like, oh, I didn't realize I should do that. Let me go ahead and fix that.
I remember someone saying “most ppl are boring, they don’t do anything interesting and so they have nothing to hide”.
This is also the feedback I got when talking with ppl, nobody sees the danger of having freedom of speech/interaction controlled
😮
Wow. I only see four more views of the first one, likely due to this post!
Sure but they’ll make it very hard *for you* to access it.
Or the fact that Saylor gets these interaction numbers on this out-of-this-world cringe Twitter post.
Testing zaps for this note… we made five attempts to⚡zap this note, at behindmove37@iris.to, over a period of 19 minutes. In each case, we found that your lightning address service or server did not respond correctly. If you wanted to fix this... you could try getting a free Rizful account to reliably receive zaps -- 
... then, pls reply here so we can ⚡zap you some sats to be sure it's working.
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if xapo bank app runs on an android emulator i would switch to my thumb sized dumb phone
in fact, i'm gonna try it a bit later, maybe today or tomorrow.
i need whatscrap as well for my real estate agent
i can just tell the agent to email me anyhow.
so, yeah, that would be it for me having a smartphone
Saylor’s just charismatic, and you need charisma if you want 99% of the global idiocracy to adopt a new technology. As always, it’s the kind of tech meant to free those of us who actually want to be free.
That’s what history keeps showing us.
Guy Fawkes, the face behind the V for Vendetta mask, was a terrorist fighting for Catholicism, against a state defending Protestantism.
In the end, both sides just wanted power.
not you
💐💐💐