Bitcoin is unseizable? Hmmm - what have all those hacks been about over the past few years?
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Those were exchange hacks. Not Bitcoin hacks.
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Reading comments like
@JordanEliseo’s above make me so incredibly bullish. We’re still so incredibly early, seeing how most people are yet to grasp these basic facts. -
I grasp the facts mate - my point is bitcoin on an exchange is hackable/and far riskier that conventional assets - it’s safe from this 1/2
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If Kept in cold storage etc, but a gold Ingot or a banknote buried in the ground is unhackable too. That’s not the future of money 2/2
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1. Cold storage + Private key management UX will be made smoother and smoother. 2. Have you heard of decentralized, non-custodial exchanges? 3. See below. No one my age (23) is buying Gold. Bitcoin is 10x superior to Gold, in almost every way.pic.twitter.com/E598opm7Ao
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yes re point 2 - i've heard.....Thats a super cool table btw - though not sure gold is a "D" for portable. $50k fits in for your pocket. And curious BTC (and fiat) get a B for fungible! Does table come from an article you can share?
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Can you carry $5 Billion worth of Gold through an airport?
And yes:https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1 … - 8 more replies
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To use your virtual money you still need to come back to the real world with governments, borders, banks and rules. Being virtually rich because of someone else faith is virtual not real... i hope you pray for Bitcoin i guess you need ;)
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Let’s say Bitcoin is $10T mcap. Why does transacting in Bitcoin between two parties require governments, banks and let alone borders? You can bypass fiat entirely.
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This is true. But everything else has price in fiat. I would go farther. Why do we need to pay so much for transferring bitcoins? Transfer of ownership of btc account & pk without blockchain change could make it cheap.
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At 10T, You can price things in BTC. As for fees, Because security is not cheap.
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Security in bitcoin is expensive because bitcoin is expensive on other chains its much cheaper. Also it's a genetic problem of POW. But it's cyberera as any problem it's solvable.
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Actually security in bitcoin is expensive because people are willing to pay that price, this shows that people respect Bitcoin's security guarantees and the network as a whole a lot more.
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That’s false. BTC derives it’s value based on Metcalfe’s Law. It’s directly based on the size/value of the network. Just like a telephone, cellphone, cable, internet, it’s value increases with every user. RE has value, yes, but there’s no one property worth the $ of the internet
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And buying into BTC network and value is a congitive process.
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No less one than universally agreeing that gold or fiat has any value. Gold has maybe -15-20% intrinsic value, and is 80% valued by the fact we all agree there is value. Fiat only has value because we agree it does.
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Precisely. They are all collective illusions. But he illusions are there for a reason. Gold - shiny/scarce/durable. Fiat - authority decree. Bitcoin - even more scarce, portable, divisible, transportable, unseizable, uninflatable than Gold.
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I may have mis understood your original tweet. It sounds like we are in agreement.
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Tokenization has been around forever. You mean “blockchaining”?
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yeah I’m not sure about Bitcoin... But Blockchain! Blockchain technology that’s the cool part that we can use to increase back office efficiencies at our bank!
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The blockchain remains problematic after 10 years an billions of dollars spent. Much needs to be solved including security
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I was being sarcastic Blockchain is a joke Bitcoin is the true innovation
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Not funny
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