Bitcoin is kinda a scam…
Hear me out.
I cannot currently pay for food, water or shelter with bitcoin.
If the fiat system collapsed, nothing would change that. I can’t eat bitcoin, and unless I can afford electricity, I cannot mine it or move it efficiently.
Cold storage is just a piece of hardware that has a lifespan.
Just like the hard drives that hold your files. If you cannot afford to replace your hardware, and cannot afford cloud storage, how will your bitcoin be available in 100 years?.
It cost money to store it long term.
If fiat collapsed, the big institutions, and a few whales might be fine. Will farmers or grocery stores accept bitcoin?
Everyone will be stuck with the bag and starve to death. Your cold wallet storage is gonna look pretty stupid collecting dust while you starve to death. Will Bitcoin REALLY save you from inflation in the grand scheme of capitalism?. Highly doubtful.
How am I wrong?
Replies (65)
Our family is living on sats only for two years now. You can definitely pay for food water and shelter with bitcoin if you make a modest effort. I will always accept sats in exchange for my time and production over fiat. And so will many others.
You pay your mortgage/rent, electric, water, heat? With bitcoin? If you go to the hospital you pay Bitcoin? Tax’s, gas, phone bill, internet? Bitcoin?. You buy a used car and register and insurance with Bitcoin? Car wash? Bitcoin?. Netflix?. Let me guess.
Don’t fucking gaslight me dude. Your“sats” are trivial to the system that exists. Nobody is actually building out the actual infrastructure for bitcoin to be a functional, working currency. The grid, hardware and long term backup plan. The ACTUAL infrastructure. It’s Just mostly hodl memes, software and scams.
I’m not saying it’s not a store of value. But when you factor in storage and other things. It’s not really that great.
A dollar in my wallet may devalue over time. But it cost’s me absolutely nothing to store it.
My point is, people need to step up and invest in the physical infrastructure or we are all just beholden to centralized utility’s and corporate fiat price structures.
Yes, we have arranged our life in a way that we can obtain what we need with sats. Shop at farmers market paid in sats every week. Don’t pay taxes, no phone bill (thanks
@LN⚡️VPN - eSIM & VPN & Phone Numbers), internet, electric included in rent (paid in Bitcoin). Never been to a hospital in my life. No Netflix, we self-host everything on our own server paid in sats. For gas and other items we use gift cards paid in sats.
It’s not always ideal or easy but it’s possible.
Not saying we don’t need tons more infrastructure, and we definitely have long way to go from here, but I’m saying anyone can do it if they try.
Paging
@DarthCoin ₿⚡️ I’m sure you have some more thoughts on this
1. You have to study very well what is Bitcoin and how to use it. Just hate it because some merchants around you are not accepting it, is just stupid.
2. Once you learn about Bitcoin and accumulate some, start the so called Bitcoin Circular Economy. I wrote more about that here:
Stacker News
Bitcoin Circular Economy - a hard to achieve goal for many people \ stacker news ~bitcoin
Bitcoin Circular Economy - such a wonderful term, hard to achieve We are bitcoiners and we want freedom and free market. Not gov intervention in ou...
If you still complaining, fine for me, just stay in the fiat slavery and I will have more sats for me. Nobody is forcing you to use Bitcoin. But hating it is just... lame and idiotic.
1. You don’t get it. I have bitcoin. I’ve done all the research. It is a decent store of value. That’s it!.
2. YOU don’t understand what I’m saying. You obviously didn’t read and comprehend. You read the first sentence, got mad, and started commenting. (Typical). This post is actually for YOU. Nieve people who think bitcoin will magically save the world without understanding what that entails.
>it is a decent store of value
OK enough, you are too dumb to understand what is Bitcoin.
It sounds like English is not his first language. “Decent” makes no sense in that context
“Fiat money is a disease that is consuming our energy”… is this a joke?😂 🤦♂️
You could eat the hardware wallet, that would stave off the hunger pangs for a minute.
What about “honking”?
I’ve never heard of a honking store of value 😂
Just ask a goose. 🪿🤟🏽
Geese are stacking sats? Good for them 🤣
You are the HOMO REKTUS
🪿
My cats too 😄
Your cats are psychopaths. Respect!
You are a basic bitch with basic memes. I own Bitcoin. Lots of it. You are just too dumb to read and comprehend anything.
like me 😉
Read and learn dumbass... I wrote more than 60 guides about Bitcoin
DarthCoin Guides
DarthCoin Guides
Bitcoin and Lightning guides
You too?! Awesome
ofc a homo rektus cannot understand that meme. Is too profound for your degraded primate brain.
I’ve read all this shit. You still don’t get it and do not address anything negative about proof of work mining. Ai and Bitcoin consume massive amounts of power and water. Eventually this will be quantum computing. This all drives power bills up. You don’t control your power bill. You don’t own a factory that produces cold wallets or mining equipment.
If you love bitcoin so much, MOVE NEXT TO A BITCOIN MINE.
What’s to keep the corporate fiat system from buying up and controlling Bitcoin?
Bitcoin is just another fiat system in the making. Your memes and articles won’t save you kid.
Multinational CORPORATIONS are invested in mining bitcoin and producing AI data centers. You don’t own a power grid, nor are you invested in the infrastructure to make bitcoin physically work.
omg you are more idiot than I thought !
You are much worse than homo rektus...
You are a fucking child…
You have a Pepe frog with a kid and play haircut as a profile pic. 🤦♂️Fuck outta here kid.
How can corporate fiat system control bitcoin? Can you walk me through the steps?
Where do you see a kid? 🤣
You have the Bank of America as a pfp. So what
I’m not surprised. You have no substance… All you can do is mock my writing and pretend you don’t understand me. It’s obvious you are nieve af.
Banks are real. That should burn. Not sure how you don’t get it.
Fascinating
Filou, let me remind you something.
Teach about Bitcoin only those that are in REAL need for it. Do not waste your time and energy with those that do not want to be freed.
Your energy is valuable, focus it on those that appreciate it and need it.
I’m particularly interested in knowing how they can control all the utxos in cold storage. And all the nodes 😂
I was actually hoping someone with a brain would comment and have something good to say… I was looking to have my mind changed…
Instead you proved your way more nieve then I thought “darth”.
Everything you have in life is based around fiat currency… fact.
Fiat isn’t the problem. GREED is the problem. That fact that fiat AND bitcoin can now be used to sway politicians is the issue. Bitcoin will eventually become the new fiat.
an “adult” with a turtle necked pepe bio photo. Embarrassing.
Very insightful yes. So do you have an explanation for this?
View quoted note →Is your cold storage device gonna work in 25 years?… you sure?
That’s not an answer to my question
Is that joke😂 you really have no idea?.
Why don’t you explain your thought process instead of stalling
How about you just use basic thought. Profit has no conscious, it can’t afford too…
Let’s explore one path. Corporate America can lobby governments to change laws that disadvantage you and your node. The same way as fiat. Public opinion can be swayed to favor talking points.
“Bitcoin is energy intensive”- if you can’t afford to keep your lites on, how can you afford to mine?
A Bitcoin mine opens next to your house. Your energy bills double.
Your house value drops. Now your selling bitcoin to buy groceries instead is stacking it.
Who’s buying your bitcoin when you NEED to sell it. Corporations.
Do you honestly think people like Elon, Trump, ect, really want you to be rich? 😹 if so. You need a hard slap.
This is all speculation. You still haven’t explained anything about your initial statement. How does corporate fiat America take control of all the holders’ utxos? How does any of this prevent anyone from running a node? How does this prevent any mining operation to spin up where energy costs are low?
Are you a leftie?
Is not a matter “taking control”. It’s about disadvantage in the marketplace. If you can’t afford electricity, how will you power you node? Will you buy electricity over food?
Our current administration is literally doing it as we speak! If you have no fiat, and need money to buy food, you will probably cash in your bitcoin for food.
Especially if the store won’t accept it.
What’s to say the government won’t ban Bitcoin payments. Especially if world leaders are taking backdoor payments in bitcoin.
You’re moving the goal post now. People have jobs that’s how they pay for living. Bitcoin gives back an advantage to those who own it.
Im moving the post!?. You obviously don’t understand what that means.
People might have jobs today. How
How do they get paid? Fiat.
Not Bitcoin.
How exactly does bitcoin give you an “advantage”. It might give a CHANCE at having an advantage. And unless the price is high, it’s doesn’t.
Unless your a whale, then you can hits manipulate the price simply by moving it.
At first you said “What’s to keep the corporate fiat system from buying up and controlling Bitcoin?”
After speculating, you later said “Is not a matter “taking control”. It’s about disadvantage in the marketplace.”
You weren’t able to provide any clear reasoning as to how that would happen so you moved the goal
post yes.
I said buying up and CONTROLLING. wtf is wrong with you. Take the dick outta your ears kid.
If I cut off your arms, I’m controlling you by DISADVANTAGE.
It’s interesting how you revert to insults. The insults don’t make whatever you’re saying true. To control the Bitcoin network you need control of the nodes and the mining. To buy up bitcoin you need to get all
The psychos to sell. You haven’t explained how any of that works 😂
I have thou!! U fucking ignore every point I make.. You are waaay too stupid to get it. I’m done with you. Good luck with your node and your pepe memes.
You haven’t proven anything. You speculate and make ad hominen about Pepe 🤣🤣
Don’t worry, sovereign nodes, mining and cold utxos will be just fine
How is that relevant to ANYTHING!!
Your president is a pedo scam artist. If you’re a right wing lunatic, so are YOU.
Read public key crypto.
I have private keys in the Bitcoin SegWit space, so I'm pretty sure they'll outlive me!
Good luck.
Thank you 🥳
💩
🐇
Ooo. Yeah you really don’t do a lot of research do you. Or thinking. These are the childish screams of ignorance.
Ignorance?. Your lack of self awareness, combined with your utter lack of knowledge is embarrassing. You seem to think national socialism and democratic socialism are the same. And fascism is a byproduct of freedom. You’re not only wrong, but your fucking arrogance is insulting.
Read a fucking book kid. I’m done with you.
Well good luck. Every uninformed assumption in this post about bitcoin is completely wrong. You owe it to yourself to understand why so maybe pick up a book on the subject. You are on nostr so ask someone else for a recommendation.
