Bitcoin

[Serrano]

Just don't try to make it an alternative currency.

I think it maintains its appeal due its value to tax cheats, crime syndicates and fraudsters.

 

[Silver Wings]

Just don't try to make it an alternative currency.

I think it maintains its appeal due its value to tax cheats, crime syndicates and fraudsters.

Preach, boomer!
We would never want an alternative to the fiat that gets more diluted and less valuable with every passing day

 

[RockAndSage]

Just don't try to make it an alternative currency.

It already is, along with a number of other crypto currencies - on top of being considered a commodity.

What's happening in the crypto space is a complete restructuring of the global financial order - various ledgers and their tokens are doing for value-flow what the internet did for information flow. It's that stark, and that big.

Japan's way ahead on institutionalization, but just in the last few months there's been a massive leap in test-runs and adoptions by thousands of financial institutions globally, especially in Europe and the US.

There is something like 27 Trillion USD locked up globally with banks doing international business, in accounts that are set aside to settle international payments - called "nostro/vostro" accounts. It takes literal days for a single transaction to take place across the SWIFT system, which is the information flow equivalent of an encrypted telegram. It's archaic compared to these blockchain ledger systems, and the currencies/tokens they use. But that 27 Trillion - it's damn near useless locked up in those accounts, in terms of it's liquidity value. It's like sitting on piles of gold, unable to sell it off or put it to use.

Right now, it's estimated that for every 1 billion USD in global financial transaction an institution conducts, using crypto/blockchain as their value-transmission system gains them $50 million over what they can do today.

I think it maintains its appeal due its value to tax cheats, crime syndicates and fraudsters.

There are essentially 3 types of crypto currencies: meme coins, "store of value" coins, and "utility" tokens.

The meme coins are where the fraudsters live large. But the tax cheats and crime syndicates...it's getting increasingly difficult for them to use store-of-value or any crypto for illicit business, other than conning with meme coins, because it's not as anonymous as they think it is. The blockchain ledger technology knows were every fraction of a coin is, in every "wallet". The only question is who holds the wallet at any given point. But when that crypto surfaces on an exchange (an online market/bank, essentially), FBI and other agencies have had that crypto seized, just by getting a warrant and requiring it of the exchanges. The big thing to know about established store-of-value tokens like bitcoin, is governments are now buying them up, and using them as strategic assets. The US government is about to change the game on these entirely, with Trump's multi-billion dollar Crypto Reserve.

The utility tokens though - think of it as the energy/fuel that global finance, commerce, and even AI information flow are increasingly running on. That's where the action will be - the only thing that will slow the value-growth of those types of crypto down once they get adopted, is broad slowdowns in the global economy, as "electricity" demand slows. But then it will speed up again, and be needed more. Right now, several of these are at the developmental and adoption stages of Microsoft and Apple back in the 1980s - they are months or a couple of years from a surge in value, as the global financial system is restructured intentionally to use them.

 

[ozyclint]

There will only ever be 21,000,000 bitcoin, whereas we print dollars out the ass. Once governments and major corporations started getting involved, that told me all I needed to know, get on board before it’s too late.

Are you saying you got on board once governments and major corporations got involved because you think that validates bitcoin or because you wanted to get in before they corrupt bitcoin too?

 

[Blacktail_]

Are you saying you got on board once governments and major corporations got involved because you think that validates bitcoin or because you wanted to get in before they corrupt bitcoin too?

I have been buying since 2018 so I was on board before that, but I do think that is validating to bitcoin. Harder to corrupt something that has a finite supply and anyone can track the blockchain.

 

[ozyclint]

...................... and anyone can track the blockchain.

sounds decentrilized...

 

[Blacktail_]

Yeah it is exactly no governing body creating more every minute like fiat currency.

 

[Blacktail_]

The blockchain also isn’t advertising names and addresses lol it is a randomized wallet number, much more secure than a bank transaction.

 

[Blacktail_]

Just don't try to make it an alternative currency.

I think it maintains its appeal due its value to tax cheats, crime syndicates and fraudsters.

Nothing is used for crime more than Dollars but you’re glad to get paid in those still