Inside The Cryptocurrency Revolution | VICE on HBO
- Thread starter johnarb
- Start date
There’s a crypto revolution??
There is a revolution. Large amount of value is created and traded every single day utilizing decentralized finance that relies on peer to peer and distributed network and at the core of this system is the trust in cryptographic proofs to be able to track ownership of these digital assets.
If you want to understand it, you should at least buy a few hundred $ worth of bitcoin, install a bitcoin wallet on your phone, tell your brother or a friend, you'll give him or her $50 worth of bitcoin and transfer it to their phone. On your travel to Asia or Las Vegas, spend or cash out the rest of what's left in your bitcoin wallet.
What would that accomplish? You will see this fake internet money is not fake at all and it has real value and it functions without centralized entities or clearing houses or banks.
I do about 10 bitcoin transactions a month which is important for me to keep track of for tax purposes and when I read all the bitcoin critics here, I doubt very much that they have performed a cryptocurrency transaction. It's like a food critic doing a review of the restaurant without actually dining there.
large amount - only $200b or so, which is nothing.... and it should really be worth about $100b, roughly the fair value considering the maturity of the technology, with the doggie coin still at $300 it's clearly still a bubble.
bitcoin is really just used to buy illegal shit on the dark web.. there is no other use to it... in developed countries transfer of money is never a problem... cryptos are a solution to a problem that never existed (perhaps exists only in shit hole areas in the world)..
in the developed countries it's not completely friction-less, credit card fees etc... but there is added safe guard.
for mobile pay you should go visit China, weChat Pay and AliPay - basically you can go around with just a phone... street pocket pickers are out of business because people dont' carry cash anymore.. and btw bitcoin is banned in China.
already discussed why this grass root stuff will never become main stream... check my posts about 'FaceCoin' and Libra.
HBO showing this stuff maybe a sign that the scamsters just want to do 1 more round of squeeze to get any juice out of this thing before it dies.
There's no convincing you, Dozu, but with all due respect, you don't know what you're talking about. WeChat and Alipay are great stuff, I see them all over in Vegas, but this is not a winner takes all. There's room for all kinds of technologies to co-exist and in fact, it strengthens the ecosystem if value can be transferred from one network/system to another, i.e. imagine being able to use an exchange to transfer a $ amount from a Bitcoin wallet to an Alipay account.
And how does a non-Chinese who doesn't have a Chinese bank account get a WeChat account, btw? Libra coin is not a competitor and will help the bitcoin adoption tremendously increasing the network significantly the minute it's approved (think of all the exchanges that will allow you to trade bitcoin for libra coin and vice versa).
Bitcoin does not discriminate and a fish vendor in Thailand can accept bitcoin on his phone and cashout at an ATM in Japan.
It's like a Swiss bank account in your pocket that does not ever close, 24 hours 7 days a week, even if it's Christmas, or midnight local time.
If you want to understand bitcoin, follow my recommendation. What are you afraid of, losing a few hundred $? Come on, you make that in a few seconds with your successful trading and skills.
wechat pay works with visa MasterCard now.
I don’t need to try because I am not doubting the btc functions at all.
my point is libras death is a warning that if btc ever tries to become mainstream the banks will come kill it.
In nano-seconds
I love how people actually take @dozu888 seriously and try to have a conversation with her when she's been outed as a broke bitch in this thread here:
https://www.elitetrader.com/et/thre...all-drawdowns-to-find-investors.338996/page-4
https://www.elitetrader.com/et/thre...all-drawdowns-to-find-investors.338996/page-4
@johnarb: thanks for posting this. Don't get tilted by this troll dozu. He doesn't even trade and cannot understand the difference between tokens and coins. His opinion on the subject is worth zero.
Back to topic. From 2020, crypto custody is officially regulated and licensed in Germany, France starts a Central Bank Digital Currency, in the US digital assets are treated and taxed like securities, Wyoming even passed a specific bill in March 19.
Import/export in Asia choses US stablecoins over fiat money since settlement is instant and costs are low. Economy is most fragmented there so no wonder they are the most crypto progressive. Singapur, Indonesia, Malaysia, Thailand all issued crypto friendly legislation.
And although it's prohibited to buy crypto without the use of a bank account, the peer2peer BTC trade is going through the roof in Argentina. Pretty hard to kill a transfer method that only needs the memorizing of a couple of digits, right?
Asia, Latin America and Africa are first adopters, so the "revolution" already happened there.
After all, there is nothing to stop money on distributed ledger technology. It's fast, it's cost effective and surveilance options are second to none for governments.
Back to topic. From 2020, crypto custody is officially regulated and licensed in Germany, France starts a Central Bank Digital Currency, in the US digital assets are treated and taxed like securities, Wyoming even passed a specific bill in March 19.
Import/export in Asia choses US stablecoins over fiat money since settlement is instant and costs are low. Economy is most fragmented there so no wonder they are the most crypto progressive. Singapur, Indonesia, Malaysia, Thailand all issued crypto friendly legislation.
And although it's prohibited to buy crypto without the use of a bank account, the peer2peer BTC trade is going through the roof in Argentina. Pretty hard to kill a transfer method that only needs the memorizing of a couple of digits, right?
Asia, Latin America and Africa are first adopters, so the "revolution" already happened there.
After all, there is nothing to stop money on distributed ledger technology. It's fast, it's cost effective and surveilance options are second to none for governments.