With Tether headed to El Salvador and Bukele posting towards Rumble that they should also relocate to El Salvador, it seems like the country has begun attracting major up and coming businesses with their Bitcoin stance. This could be the beginning of a major shift in economic power towards countries that embrace Bitcoin.
Huh? Since when is Tether... Bitcoin? This is demonstrating an evolution away from Bitcoin, not towards it.
Of course, Tether is and has been related with bitcoin since at least around 2014, and for sure it is not bitcoin directly, but it has been involved in various bitcoin related battles and facilitating some of the on and off ramps related to bitcoin.
Tether is a pretty amazing company in several ways.. a very small company.. largely private, in some legal battles,.. potentially coopted in some ways by status quo institutions/governments, yet still being a bit of a thorn in the side, at the same time.
With Tether headed to El Salvador and Bukele posting towards Rumble that they should also relocate to El Salvador, it seems like the country has begun attracting major up and coming businesses with their Bitcoin stance. This could be the beginning of a major shift in economic power towards countries that embrace Bitcoin.
Huh? Since when is Tether... Bitcoin? This is demonstrating an evolution away from Bitcoin, not towards it.
Regardless of whether it is Tether or Bitcoin the news aimed at cryptocurrency adoption and its development and progress in El Salvador, under the Bukele-led administration that has demonstrated a highly prefilled bitcoin determination and also creations of policies to accommodate bitcoin/crypto-related projects to increase efficiency and scalability for the entire cryptocurrency industry and how citizens adopt and use them to they advantage.
Yes, I think this is great news for digital currency technology, broadly speaking, but bad news for Bitcoin specifically.
Just like the PC was a great thing for computing, but very bad for mainframes.
It's great that Bitcoin has created this market for us, but it's time has passed.
You sound lost @legiteum. Bitcoin is a protocol that is still getting built upon in a large number of ways that may or may not make sense, and at the same time, bitcoin is not getting any weaker even if you might not agree with some of the directions that it is being built - and/or it does not fit into some kind of convenient way of your wanting to frame it.
I am not going to claim to know everything about what bitcoin is or what bitcoin isn't, yet it seems that bitcoin is continuing to grow in all parts of the world, and various relationships (alliances) are forming, some of those alliances relate to various legacy systems, some alliances relate to shitcoins and some alliances we might not exactly know how to characterize what they are and where they might be going. Some folks are fighting bitcoin and some are supporting bitcoin, yet it is also not always clear which is which, yet in the meantime on a personal level if you are fucking around anticipating that bitcoin is some kind of a passing fad, and you have not figured out your own personal position to invest time, energy and/or resources into it, then perhaps you will continue to seem lost like some kind of a low coiner, no coiner and/or non invested person looking at bitcoin from the outside yet continuing to be ignorant in regards to what you believe is bitcoin and what is happening in and around bitcoin.
Yes, I think this is great news for digital currency technology, broadly speaking, but bad news for Bitcoin specifically.
Just like the PC was a great thing for computing, but very bad for mainframes.
It's great that Bitcoin has created this market for us, but it's time has passed.
Your comparison between PC and mainframe computers is not compatible with Bitcoin and any other competitor. Did the dollar become obsolete because a new currency was created? How many companies or governments have considered buying and holding any altcoins. Bitcoin is at a level that will take competitors decades to reach.
Your overall assessment seems correct, in that bitcoin is going to eat the dollar's lunch and also eat the lunch of all of the various fiats, yet at the same time it could take 50-200 years for that lunch eating to play out.
Do you think that the dollar or other various fiat institutions are going to go down (or get transitioned) without any kind of a fight?
There are so many folks still trying to figure out which side to be on or if they should hedge in both worlds, and even the world's population are less than 1% who hold much if any BTC.
Yeah there are some companies really starting to push bitcoin, and some individuals who got decently large stacks of bitcoin early, yet it is going to take many years for bitcoin to get adopted by the public in broader ways...
Bitcoin cannot just take over the dollar without systems building and people getting used to it.
Bitcoin's days are numbered, and in the world of technology, it's not going to be "slow".
You sound determined to have fun staying poor... hahahahaha
Let's see how that works out your suggestion that you are going to stay a no coiner (or are you going to at least hedge as a low coiner, just in case it
(referring to bitcoin) catches on?).
Please could you please tell me how El Salvador is moving away from Bitcoin and which altcoins is the country embracing?
Um, read the entry a few posts up? That's what got this conversation going.
Is Tether the shitcoin, sorry, altcoin that you guys are referring to as where El Salvador is shifting their attention to? If yes, I don’t see that as completely abandoning bitcoin and shifting to something else; rather, they are embracing what will bring more advantage to them in the market. More tether means enough to buy bitcoin with; I don’t know which area you are picturing the attention shifting from, but I don’t see the era of bitcoin ending with El Salvador, even if tether replacing is a fallacy to their vision.
legiteum seems to be spreading confusion.. perhaps on purpose.
Sure, tether is going to El Salvador, yet that does not mean that Tether is replacing bitcoin, even though tether could provide some transactional and interaction options.
Tether has been buying a lot of USA treasuries lately in order to show that they are backed up by dollars, yet it is not exactly clear how tether is investing itself in a lot of ways, including it is one of the company building its bitcoin treasuries too.
For sure, Tether likely considers El Salvador as a bitcoin friendly district, and Tether has historically been quite sympathetic to many bitcoin financial sovereignty kinds of objectives, yet at the same time they seem to appreciate that El Salvador does not have a bitcoin hostile environment.. at least for the time being El Salvador is both bitcoin friendly but also trying to attract big industry that is tech and/or bitcoin and/or information-sector friendly.
In regards to legiteum's assertion that cash is disappearing, he is correct, yet largely seems to be just spouting out some central banker wet dream ideas about the supposed disappearance of cash.. even though surely there are a lot of efforts all over the world for people to become more and more cashless.. and yeah, if everyone could be tracked and their spending and/or money could be controlled that would also be great... .. so each of us do have to be careful about those kinds of developments an not assume that we lost the privacy battle in regards to phsysical cash too, as legiteum would like to presume to be the already deteriorated status of the world.