Post
Topic
Board Bitcoin Discussion
Re: Bitcoin: A Medium of Exchange Not A Fiat Multiplier
by
figmentofmyass
on 29/07/2019, 21:30:14 UTC
Did you guys ever think they killed satoshi and turned his project into something it was not meant to be?

who is "they"?

So the exchange you use, is not peer to peer you trust a 3rd party with your bitcoins, The exchange is also a finical institution (so you pissed on satoshi`s grave 2x) not to mention you trade if for fiat which is created by another financial institution.  (so 3x piss on his grave) just in the first sentence of the white paper.

to use bitcoin, you need to own some. an exchange is merely one way to buy some bitcoins.

satoshi wouldn't have advocated using exchanges instead of bitcoin, but i don't think he'd have a problem with people buying/selling it for fiat money:

As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose

and one special, magical property:
- can be transported over a communications channel

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

What is wrong with you guys? Do you not understand bitcoin was put here to compete with $cam $lavery unlimited monopoly money, not be a measure of it and facilitate it?

fiat money is being slowly devalued but bitcoin's value is rising much faster. there's no point complaining about human nature. it's just rational greed playing out.