Unless you are a criminal, a very shortsighted desperate person, or just have no morals you have to no reason to touch crypto. Reasons why you should avoid at all costs:
1 The majority of crypto thought leaders and founders have criminal records and extreme views.
2 The founder of bitcoin was anonymous. What if that means he was an employee of a rogue regime, or a programmer for a terrorist group, or had a long list of criminal records?
3 A massive majority of the supply is owned by a tiny number of wallets with no known ownership. They could be a rogue regime, a terrorist group, child traffickers, a mafia, stinking rich people who want to be even more stinking rich, or all the above. In fact, we have quite a lot of evidence that the ‘all the above’ option is correct.
4 Because the prices are clearly artificially boosted with unbacked Tether and fake volume. This means the game is rigged to create Minsky Moments at regular intervals.
5 Because it isn’t a store of value or even useful unless you have power in this game.
6 Because a portion of every transaction goes into the pockets of the Chinese regime who control most of the hash power. You should not be paying a transaction tax to that regime. It’s bad enough our consumer products are made there. It is highly likely that Bitmain and Binance are fronts for raising and laundering money for the Red Army.
7 Because sites like Bellingcat have shown us terrorist, Nazis and Russian intel wallets. Why should I buy in and make these early holders wealthier? You should not be financing people who kill and oppress people. It’s bad enough we fund our own military complex, why should we fund other militaries, fanatics and spy agencies?
8 Because they pump and dump on everyone who buys into a bull run. The only real winners are the criminals listed above. They may let a few normies win but in the long run when you give such monstrous people more wealth and power they will crush you sooner or later.
9 All the cryptos put together added two whole countries worth of carbon footprint to the planet in the last decade. We are hitting record temperatures and this level of global warming is a threat to us all.
It confuses me how so many of these Countries manage to screw it up so bad, time after time.
So how many people actually use localbitcoins in places like Zimbabwe, Venezuela and other high inflation countries?
And what is the process of them actually getting Bitcoin, trading it and then getting the food, clothes or other items they actually need at their door?
I think having a stablecoin such as Maker or Reserve's RSV will end up being the solution. That way they don't have to deal with the volatility (of both their own fiat currency, and BTC) But the only way for that to work is for it to be totally decentralized so the grubby hands of the governments cannot shut it down at will.
Maker looks great, but I think as a global currency, it might have some issues with scaling (at least at the moment)
Reserve is looking good, and even better after all of this Facebook Libra saga.
I doubt even Facebook's Libra will be the answer, since it probably won't be available in the Countries that need it most due to sanctions.
You should probably learn how Zimbabwe citizens have used bitcoin as a store of value against their hyper inflated currency you condescending cunt. Here - these articles should get you started:
Seems to me you are the dick.
Wow you’re proud that the most exploited people on earth are turning in desperation to shitcoins only to get dumped on and scammed by selfish little pricks like you?
Fuck off with your holier than thou bullshit - it’s selfishness, greed and stupidity that you’re involved in crypto. It’s tragic for the people of these countries that some have involved themselves in this scam in desperation. Pull your head out of your ass - you’re pathetic
Bet they still beg for aid after they caused their own starvation, though. Apparently they aren't too good to beg for handouts but will still virtue signal against the people they're sticking their hand out at.
“And there is little supply compared to demand so all the activity in bitcoin which we are seeing is happening on dark markets instead of exchanges,”
Says someone from a crypto exchange, with a vested interest in shilling bitcoin. Funny, no numbers in this article. So, no way of measuring it, cos you know, dark. No numbers quoted. But it's happening, really. If you believe...
It is truly unfortunate that the Zimbabwean government is denying its citizens access to hard currency. It is doubly unfortunate that these citizens, looking for any port in a storm, are forced to put their trust in shitcoins.
It feels like more and more countries are going to adopt Bitcoin which further legitimizes bitcoin...
When people in huts in Africa know more about bitcoin than the general populace in Industrialized nations, makes me think bitcoin has a shit ton more head room to grow.
I did a quick "survey" of 20 people at the poker table in a casino over the course of a few hours of play... Several professionals, a policeman, a teacher, some business owners, etc and only 1 guy (an IT guy) owned any bitcoin. About 70% of the table had a vague idea about bitcoin having heard about it on the news but the didn't know what all the fuss was about... One guy had some "Crypto" and was proud of it, but it was a shitcoin I'd never heard of and he didn't know anything about bitcoin and that all crypto was more or less the same so he figured he'd buy the cheapest one...
So yeah, feels like bitcoin has an EASY 10x growth left in the next couple of years without even breaking a sweat.
The time to worry about bitcoin not having more room to grow is when the idiots around you know about bitcoin... And even then, bitcoin just slows down and becomes more like gold... Imho, we have an easy 5 more years of insane growth, so much headroom. Feels like the equivalent of planting a weed in the middle of a pristine field of flowers... so much room to grow and dominate... they will never see it coming... Hell, we are screaming about it and still the sheeple can't see it coming...
>When people in huts in Africa know more about bitcoin than the general populace in Industrialized nations, makes me think bitcoin has a shit ton more head room to grow.
Haha , no they dont . Trust me, I'm in Zimbabwe and can tell you that most people have not heard about or are very skeptical about Bitcoin. In fact , not many are on reddit !! Internet is used by most for Whatsapp and Facebook. It's the few people who were using USD for cross border payments through banks who have now been pushed to use BTC simply because banks wont facilitate their USD transactions anymore. These people dont care about Satoshi's white paper and have no hatred for Fiat. In fact people here looove the USD like crazy. To them BTC is the next best thing to USD. I tried telling some people the other day that the USD has been losing value for decades and will one day collapse and people looked at me like I was crazy. We love USD when we can get our hands on it and yes we still live in mud huts and eat termites , now if you will excuse me I have to go back to sharpening my spear, i have some hunting to do and 3 wives to feed . . .
You might be operating under a misunderstanding.
BTC transactions post instantly....just like credit cards.
Furthermore, YOU control how fast confirmations take....to as few as 5 minutes on average for the next block.... unlike cc's where neither you nor the merchant can speed up the process, which takes WEEKS to confirm.
Most transactions (say, my routine purchase of lunch) doesn't need a fast confirmation, and so I pay a minimum. If I were to purchase, say, a car or a house, THEN a premium would be justified so that the tx can be confirmed quickly.
When I purchase at a brick and mortar store, the merchant accepts the risk and permits the sale without confirmation for either BTC or CC's.... They are both equally fast.