makeasnek

Since when is reading newspapers your government doesn't agree with a right? Since when is communicating with people your government doesn't like a right? Since when is publishing whatever you want a right? Since approximately 1776. It's such an important right that it's literally the first one in the constitution. Because our ability to speak freely and criticize the government is one of the rights that underpins all others. The medium shouldn't matter, speech is speech whether it's an app, website, chat server, newspaper, bulletin board, code, painting, drawing, whatever. If the government can just shut down any medium or venue they don't like because "it's propaganda", that basically closes the door to any open criticism of the government.

We've tried not having those rights for the sake of convenience, expediency, or social pleasantness. Tends to not end well. Ask people in Russia or Iran how that "government gets to dictate where and how you speak" thing is going for them. Insane bootlicking going on in this thread.

Not with L2s like Bitcoin lightning. Your fees come in under a penny in most cases and are not tied to chain space because they are not on chain. This is 100-1000x less than credit cards, for example.

It's more complicated than this, and it gets more complicated every year, especially with lightning. It's certainly not monero in terms of privacy, but it's not the same Bitcoin it was 10 years ago where this was more or less true.

Wait till you hear about stocks and derivatives. No way are they ever gonna make it big time. Only used by sleazeballs trying to get rich.

I use it on a regular basis. I also run a non-profit that funds open source tools for scientists, it makes accepting donations a lot easier for us among other benefits for our donors (they don't have to pay capital gains on the coins they donate, just like stocks).

Bitcoin is pretty incredible and offers decent anonymity which continues to improve, Monero offers more. Lots of scams in the "crypto world", but Bitcoin has faithfully kept its fiscal policy promises for 15 years:

• Fixed supply of 21 million coins. Your money's value is not diluted by supply inflation.
• You can send funds to anybody in the world with a smartphone and a halfway reliable internet connection in under a second for pennies in fees (with Bitcoin lightning). And you can do it from your couch, no banks required.
• It has operated 24/7, 365 days a year for 15 years without a single hour of downtime, bank holiday, or hack, and has survived attacks from many angles including nation-state actors.
• At every possible turn it has chosen decentralization and security. I can't say the same for most other coins.
• And it has done this with < 1% of global electricity usage, mostly from renewables and other "stranded" supply. Pretty powerful stuff.

Monero's privacy features can be absorbed into the Bitcoin protocol whenever Bitcoin decides it wants to, that is the biggest long-term risk to Monero IMO. That and centralization of block production due to increased block size. Bitcoin worked around this block size problem with L2s like lightning, Monero chose bigger blocks though of course it could always add an L2 if it wants to.

I will always upvote Firefox 😎😎😎

I'm not a bot, I just see things differently than you. I think Bitcoin and blockchain generally will lead us to a more efficient, more peaceful world where people have more financial and political autonomy. I think things will look different (in a better way) when our underlying currency supply is not inflationary. Most economists disagree.

after all the existences Bitcoin and it’s offspawns must have ruined, them not having provided any tangible benefits to humanity in the process, how can one still argue it could ever do anything good as a replacement for money.

When people talk about negative associated with crypto, as I'm sure you know, 99% of the time they are talking about stuff that is not Bitcoin. Most of the scams in the crypto space fall apart with the slightest scrutiny. Many of the most notable scams have little to do with crypto at all. FTX was a classic ponzi scheme, most of which have been done with fiat currency, yet we do not blame the US dollar for Bernie Madoff's existence. Exchange collapses are bad, I agree, which is why I always advise people to not store significant funds on exchanges. Those exchanges need to be better regulated/have better oversight and transparency. Any time you have a third party store funds for you, whether they are a bank or exchange, there is a risk they will rug you. There are also risks associated with self-custody. That is for each person to weigh and decide. The US and Europe have had fairly stable banking systems the past 100 years or so, which is a historical anomaly, but most countries are not so fortunate, and it's not like the EU and US banking system have not had their own collapses, rugs, and other issues. I would go so far to say that fiat currency is also a scam, just one we have come to accept as legitimate. It is designed to lose value over time, it fails the basic function a currency is supposed to provide, which is as a store of value when you sell your labor or goods so that you can then use that value to purchase something equally valuable from somebody else. That functionality doesn't happen if your currency lost value due to supply inflation. We have the state control currency because they were the most stable institution ever created by humanity, so they were our best option. Satoshi changed all that.

As far as utility? I think the market cap speaks for itself, so does investment by major investment firms and banks. I can send money to anybody on planet earth with a cell phone for less than a penny in fees. The transaction settles instantly. It doesn't matter whether or not they have access to a stable banking system or if my bank/country has an agreement with their bank/country to enable the efficient transfer of funds. I can do it from my couch instead of M-F 9-5 and I don't even have to wait in line at a bank branch. That's powerful utility right there. I sent Bitcoin to Ukraine's government when the war started so they could buy weapons and whatever else they needed. That would have been a slow, expensive nightmare to do with bank wires. My bank likely wouldn't have even let me send money to a country at war since the receiving bank couldn't guarantee liquidity in exchange. DAOs are powerful ways to change the way we organize society. I help run a non-profit bounty program for open-source projects, people donate to it with crypto, which is much easier to do on an international scale when we don't need to involve the conventional, slow, convoluted international banking system. We can use those crypto donations to fund open source tools for scientific research. There are many points of utility.

Small countries are now experimenting with Bitcoin because it gives them a way to have a reasonably stable currency without becoming subservient to the US. Before Bitcoin, their options were to manage their own currency which they lack the stability to do or become subject to the whims of a foreign government. Likewise, in some parts of the world, women cannot legally have a bank account. But they can have a phone and run Bitcoin on it. Granted, that would be illegal for them too, but it is at least possible whereas there is no bank that would agree to open an account for them. That's a different kind of utility than the kind I get out of it, but a relevant form. Bitcoin can be a powerful tool against tyrants and dictatorships, a way to "opt out" of the monetary system that keeps them in power.

I find Bitcoin useful, you may not, that is your choice. I have used it in everyday transactions, I have bought and sold goods and services with it. Since I have started making an effort to prioritize using it, I have been surprised how many places will accept it for payment. Much of crypto is hot garbage or outright scams, even if the technology itself has great potential. Crypto exchanges and stablecoins are not to be trusted. That said, Bitcoin has kept its fiscal promises to me and all of its users for 15 years. There's no reason to expect that to change in the next 15, as long as computers still run the protocol, it will execute itself faithfully. The protocol works, you can use it to send coins from point A to point B. Whether or not you or society or whoever find that useful is not up to me.

Fees with lightning (Bitcoin) are often under a penny per transaction and transactions settle instantly. Usability has come a long way here.