That does not address the point. The purpose of money is to represent the productive force in society. What do you think happens when you link that to 'true scarcity'?
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Ok, so how about me sending $50k to my sister overseas. It took 14 days to complete the transaction, having my account frozen and numerous phone calls with different banking institutions. And we both live in democratic western countries. Not even mentioning the horrendous fees...
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Uh huh And how long does it take to send $10 in BTC to someone standing right there in return for a pizza
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For people who are *not* transferring large amounts of cash directly linked to criminal activities, the risk of direct governmental action against you is not nearly high enough to justify the quite *enormous* transaction fees associated with transferring Bitcoin
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Which are a Randian nightmare the way everything else about Bitcoin is I cannot emphasize how hilariously dystopian it is that rather than a fixed transaction fee you negotiate with a *gasp* centralized middleman institution, Bitcoin fees are a fucking *auction*
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Billions of people on earth live under authoritarian regimes, and even those of us who don't, are subject to inflation. You may not sympathise with those people, but clearly it's growing in use over the last 12 yrs. So whether you like it or not, you'll have to deal with it.
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Nah BTC is only specifically useful for routing around the barrier of lacking access to a banking institution The volatility makes it a completely insane solution for actually *storing* money in it, especially for someone with little cash cushion
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