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Thread: Who buys Bitcoin

  1. #11

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    Quote Originally Posted by Atlas Shrugged View Post
    Reserve currency? You need to check out the real plan and it does not involve a decentralized currency.

    https://www.imf.org/en/news/articles...gital-currency
    i didn't say US will, i said US should adopt btc if they really want to take on the communist.
    Of course the NWO want their own crypto currency

  2. #12

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    Quote Originally Posted by yellowsnow View Post
    i didn't say US will, i said US should adopt btc if they really want to take on the communist.
    Of course the NWO want their own crypto currency
    But why? BTC is not a currency. It isn't stable and it rewards early adopters. How can something so unstable be a currency.

    If you got paid in BTC, your salary would fluctuate wildly. Plus the transactions per second are limited. It is a digital secure hash algorithm that keeps track of all transactions (and validates the transactions on the chain). It is based on faith of those who keep the price up.

  3. #13

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    Quote Originally Posted by The Sage View Post


    What city will be next?

    Vegas?
    outside of US, Nigeria is the 2nd largest usage of crypto, BTC in particular. The reason is nigeria's gov't is corrupt and banned crytpo trading and usage. That didn't stop the nigerians. It is because of cryptos, oil rich nigeria economy didn't grind into the ground because of gov't restriction and criminal element. Nigerian can lose more than 50% of their money if they want to convert their Naira into USD after going through all hoops and hurdles. With btc, the conversion to USD to pay for import is minimal.

  4. #14

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    Quote Originally Posted by Atlas Shrugged View Post
    But why? BTC is not a currency. It isn't stable and it rewards early adopters. How can something so unstable be a currency.

    If you got paid in BTC, your salary would fluctuate wildly. Plus the transactions per second are limited. It is a digital secure hash algorithm that keeps track of all transactions (and validates the transactions on the chain). It is based on faith of those who keep the price up.
    isn't FRN based on faith?
    isn't POG based on faith?
    is POG base on market value or some spot value determined by few criminals behind the screen?
    Last edited by yellowsnow; 02-12-2021 at 02:56 PM.

  5. #15

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    Quote Originally Posted by yellowsnow View Post
    isn't FRN based on faith?
    isn't POG based on faith?
    is POG base on market value or some spot value determined by few criminals behind the screen?
    The FRN is based on debt based assets and doesn't not fluctuate wildly. The POG is both an asset and real money that is additionally used in industrial and commercial purposes.

    So it does not require faith for Gold to exist or be useful. Yes, FRN's require faith, but it also has the weight of the government behind it. It the government outlawed BTC and did not allow it's transfer, how much faith would you have in the SHA?

  6. #16

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    Quote Originally Posted by Atlas Shrugged View Post
    The FRN is based on debt based assets and doesn't not fluctuate wildly. The POG is both an asset and real money that is additionally used in industrial and commercial purposes.

    So it does not require faith for Gold to exist or be useful. Yes, FRN's require faith, but it also has the weight of the government behind it. It the government outlawed BTC and did not allow it's transfer, how much faith would you have in the SHA?
    since u r an adult and a pm stacker i don't need to educate you anymore about money.

  7. #17

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    Here is where the MOTU are going:

    https://medium.com/datadriveninvesto...s-278b46b9fe86

    Economic Growth

    When we talk about the GDP growing or shrinking, we are talking about a primary measure of US economic growth. As to our part, the citizen-consumer, what you need to understand is what contributes to growth, and what does not.

    Spending money — buying products and services contributes to growth.

    Saving money, whether in or outside of a bank, does NOT contribute to growth, even though it makes you a responsible human being.

    Taking out loans and new debt contributes to economic growth.

    Making payments toward, or paying off your debts does NOT contribute to growth. In fact, it is worse than saving, because debt payments cancel out that portion of the money supply, which goes directly against the inflation the Fed strives for.

    Now that you understand your part in the economy from the perspective of central banks and economists, let’s run through the very real concerns we should have over what CBDC promises to offer the Fed.
    More Control

    CBDC will be a “closed-loop” system, just as some other forms of fully-digital money and equivalents are today. You likely get a discount on gas, for example, by paying with a certain company’s fuel card; you’ve likely received credit card “points” that could only be spent on specific items, or airline miles with blackout dates and other restrictions. There’s a vast amount of control in such closed-loop systems of money.

    As for what will be implemented with a CBDC, I think at first, nothing questionable. After all, they will need consumers to use it even as cash is still available, so there will likely be incentives offered to us, such as receiving interest, or discounts for paying with CBDC.

    However, this will be a transition; ultimately the goal is to get rid of physical cash and have everyone locked into the national digital currency.

    CBDC will be a programmable currency, so it is much more flexible in terms of rules that can be built into the money itself. As I mentioned, influence over monetary velocity has eluded the Fed. Monetary velocity is simply how frequently money changes hands. It stops changing hands when you save for example, but they want you to spend it, and they may want you to spend it in certain sectors of the economy that need growth.

    The following controls have been discussed in multiple white papers and research papers on CBDC by the IMF, the BIS, multiple Federal Reserve banks (by city), and many institutions that are influential to the government and the banking sector:

    Discounts over using cash;
    Caps on “undesirably high” savings;
    Expiration dates on CBDC funds;
    Restrictions on what CBDC can be spent on;
    Negative interest rates.

  8. #18

    Default

    Quote Originally Posted by Atlas Shrugged View Post
    Here is where the MOTU are going:

    https://medium.com/datadriveninvesto...s-278b46b9fe86

    Economic Growth

    When we talk about the GDP growing or shrinking, we are talking about a primary measure of US economic growth. As to our part, the citizen-consumer, what you need to understand is what contributes to growth, and what does not.

    Spending money — buying products and services contributes to growth.

    Saving money, whether in or outside of a bank, does NOT contribute to growth, even though it makes you a responsible human being.

    Taking out loans and new debt contributes to economic growth.

    Making payments toward, or paying off your debts does NOT contribute to growth. In fact, it is worse than saving, because debt payments cancel out that portion of the money supply, which goes directly against the inflation the Fed strives for.

    Now that you understand your part in the economy from the perspective of central banks and economists, let’s run through the very real concerns we should have over what CBDC promises to offer the Fed.
    More Control

    CBDC will be a “closed-loop” system, just as some other forms of fully-digital money and equivalents are today. You likely get a discount on gas, for example, by paying with a certain company’s fuel card; you’ve likely received credit card “points” that could only be spent on specific items, or airline miles with blackout dates and other restrictions. There’s a vast amount of control in such closed-loop systems of money.

    As for what will be implemented with a CBDC, I think at first, nothing questionable. After all, they will need consumers to use it even as cash is still available, so there will likely be incentives offered to us, such as receiving interest, or discounts for paying with CBDC.

    However, this will be a transition; ultimately the goal is to get rid of physical cash and have everyone locked into the national digital currency.

    CBDC will be a programmable currency, so it is much more flexible in terms of rules that can be built into the money itself. As I mentioned, influence over monetary velocity has eluded the Fed. Monetary velocity is simply how frequently money changes hands. It stops changing hands when you save for example, but they want you to spend it, and they may want you to spend it in certain sectors of the economy that need growth.

    The following controls have been discussed in multiple white papers and research papers on CBDC by the IMF, the BIS, multiple Federal Reserve banks (by city), and many institutions that are influential to the government and the banking sector:

    Discounts over using cash;
    Caps on “undesirably high” savings;
    Expiration dates on CBDC funds;
    Restrictions on what CBDC can be spent on;
    Negative interest rates.
    i say, good luck.
    I rather follow what other billionaires and institutions are doing, not an unknown writer.

    uh? what about this?
    https://news.bitcoin.com/illegal-own...vernments-ban/

    https://www.huffpost.com/entry/when-...lle_b_10708196
    Last edited by yellowsnow; 02-12-2021 at 05:27 PM.

  9. #19

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    Quote Originally Posted by yellowsnow View Post
    i say, good luck.
    I rather follow what other billionaires and institutions are doing, not an unknown writer.
    So, the Masters of the Universe have central control in mind...so keep following them.

  10. #20

    Default

    Quote Originally Posted by yellowsnow View Post
    outside of US, Nigeria is the 2nd largest usage of crypto, BTC in particular. The reason is nigeria's gov't is corrupt and banned crytpo trading and usage. That didn't stop the nigerians. It is because of cryptos, oil rich nigeria economy didn't grind into the ground because of gov't restriction and criminal element. Nigerian can lose more than 50% of their money if they want to convert their Naira into USD after going through all hoops and hurdles. With btc, the conversion to USD to pay for import is minimal.

    I meant nigeria is 2nd in crypo transaction volume

    Africans rank atop global cryptocurrency ownership rates, according to a new report by Arcade Research. South Africa ranks third globally with 13% of its internet users owning or using cryptocurrencies, while 11% of connected Nigerians own cryptocurrencies in the fifth-placed populous West African country.

    Uganda, Nigeria, South Africa, Kenya, and Ghana are listed in the report among the top 10 countries where “cryptocurrency” is most searched on Google. Economic challenges work both ways, as the digital divide slows the adoption of cryptocurrency while high financial fees make virtual currencies an attractive alternative.


    “Africa is one of, if not the most promising region for the adoption of cryptocurrencies,” said the report.


    https://news.bitcoin.com/south-afric...slow-adoption/

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