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/leftypol/ - Leftist Politically Incorrect

"The anons of the past have only shitposted on the Internets about the world, in various ways. The point, however, is to change it."
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File: 1620109057133.jpg (115.73 KB, 1000x668, human-heat-mining-cryptocu….jpg)

 No.219702[Last 50 Posts]

If cryptocurrency is such a threat to governments according to shitcoiners themselves, why haven't they banned it yet? Not even regulations to cryptocurrency are currently in sight.
All governments are quietly letting it spiral out of control, some are even adopting their own digital coins.
>>

 No.219711

it's literally pure speculation and gambling
>>

 No.219719

>>219702
I think Bitcoin is emblematic of late stage capitalism, people are seeing how bad the system is but are grasping at straws to say… at least this part is good. Like how people worship Elon musk as le funny maymay man while disliking other billionaires, in the same way when the shitcoin bubble eventually bursts people will become more radicalized against capitalism.
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 No.219726

File: 1620109654336.jpeg (18.97 KB, 601x204, 1_Dg53KxMOhs24S6TF9rfa1Q.jpeg)

>>219719
Musk also likes to shit on BTC to drive the price down, then he buys it, and then tweets to drive the price up. And this covers Tesla's losses because it's not a profitable company.
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 No.219732

>>219726
Though now people have turned on Musk in the reddit meme subs at least.
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 No.219740

>>219702
Because porky likes a money grab and governments listen to porky. Once they've had their fill then the crackdown will come.
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 No.219784

>>219711
>>219702
red pilled take: governments are banning shitcoin not because it's a threat to their sovereign currencies but because it's untaxed gambling, lmao
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 No.219842

>>219784
>Implying governments give a shit about regulating gambling
in my former hometown there was a recent scandal over local mayors turning a blind eye to gangs using laundered money at local casinos to turn to quick cash to fund their operations
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 No.219845

>>219702
They're ramping up propaganda to ban it. See Bill Maher's recent segment shitting on it because "muh it'll burn the planet". This is not only a standard liberal line now but leftists have basically adopted it too
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 No.219846

>>219845
wont that make its price skyrocket
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 No.219867

>>219845
>defending currency because IT"S DIGITAL DUDE
Transhumanist flags making shitty posts as usual.
>>

 No.220159

>>219845
Good. Cant wait for these teenagers who think they are serious capitalists to lose their money when its banned.
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 No.220164

File: 1620124014076-0.png (71.94 KB, 1018x416, 5.png)

File: 1620124014076-1.png (72.03 KB, 1048x458, 4.png)

File: 1620124014076-2.png (67.6 KB, 1037x387, 3.png)

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File: 1620124014076-4.png (72.11 KB, 1025x385, 1.png)

>>219842
>Implying governments give a shit about regulating gambling
LOL. How does it feel that objective reality disagrees with your subjective hot takes?
>>

 No.220166

>>219867
if illegal organ trade digital: BASED
if illegal organ trade is offline: CRINGE
>>

 No.220170

>>219702
>why haven't they banned it yet?
They will. The groundwork is already happening, notice the media campaign about how it's consuming too much electricity.
>>

 No.220233

>>219702
It pretty much is banned. Glowies manage to track all transactions, defeating the entire purpose of it. And the coin exchanges can be controlled by the government, which is already the case in many countries. If it's not "crypto" anymore, then it's just worthless, may as well use cash. The realization of that haven't hit yet though.
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 No.221323

>>220233
Aren't only a few altcoins actually private? And you still need to use your credit card for the first transaction anyway?
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 No.221738

File: 1620163172202.png (34.03 KB, 780x334, munger.PNG)

>>220170

They should ban it. Charlie Munger is unironically correct, I think he may just be vocalizing it because he pities all the retail traders buying this stuff. It isn't quite a systemic risk yet in the sense that no banks are balls deep in it, even though if enough people put their savings in it and it goes belly up you could obviously have a bunch of foreclosures or something. But it's baseless speculation, it's an asset with no value beyond money laundering and avoiding capital controls (which is an actual use case, but given its illegal nature it is hard to analyze the price). More average people are going to be hurt by bitcoin tanking than big finance boys.
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 No.221785

>>221323
>>221738
>>220233
The only actual uses of shitcoins are avoiding taxes and buying drugs, anything else is just idealist nonsense lolbertarians parrot.
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 No.221787

File: 1620164008592.jpg (5.28 KB, 194x259, when you have read the sub….jpg)

>>221738

Really the only unfortunate thing is if they ban it, it would of course tank and then everyone would lose their money. It kind of can't be helped at this point. I do kind of want to see the bitcoin millionaires just lose 90% of their value in a flash though. They didn't directly do anything wrong, they just bought early, but their wealth is basically all a pyramid of capital inflow from below. A bunch of average people are practically donating their money to the early adopters in the hopes that they can also become rich or make a big return, which just keeps flowing downwards through time. A close to zero-sum game of people pumping more and more money into the charade until the music stops. Of course, again, barring the actual criminal use cases. Who knows, maybe bitcoin actually has a good chunk of its value located in money laundering. Maybe the wealth of the bitcoin millionaires really is mostly blood money.
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 No.221915

>>219867
I blame mending the website "split". Now we have this dogshit posting here.
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 No.221919

>>220159
Come and find it faggot. The government can't trace Monero. Eat shit
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 No.221942

>>221919
It doesn't need to find it. Just make it illegal for businesses to handle it, and poof, it's useless.
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 No.221949

>>221942
>HAVE
>FUN
>STAYING
>POOR
>>

 No.221953

>>221951
didn't click what is it
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 No.221972

>>

 No.221993

>>221942

Of course the amusing thing about crypto-kids is how they erroneously believe they've avoided political power by making the record of their transactions in the crypto assets effectively anonymous. The taxpayers are not anonymous, whether it be the individuals or the business entities. If banks aren't allowed to process payments from the exchanges then the spigot is turned off, the only way to exchange dollars for crypto becomes criminal, and the state has many ways of tracking online activity to make it hell for the market to function. If it manages to continue beyond that you're dealing with gangsters and thieves, much worse than any bank that is at least legally bound to process your payments without ripping you off with no recourse to the courts. It is trivial for the government to ban cryptocurrency.
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 No.222002

Bitcoin's value is still measured in fiat money. 1 bitcoin = about $64,000. This is inescapable. If the money system were to collapse, what would 1 bitcoin be worth? Exactly. It's literally seashells and bottlecaps, otherwise known as what we used before state-issued coins/bills.
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 No.222015

>>221972
>>221993
you literally know jackshit about crypto
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 No.222050

>>222015

What stage of cope is denial?
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 No.222053

File: 1620167601524.gif (1 MB, 300x188, 1349124227671.gif)

>>222015
Been following crypto since Bitcoin got started and was less than a dollar, Something Awful wasn't shit, Mt. Gox, Silk Road, repeated thefts and scams, and the users tried to organize a convention in the world's capital of child prostitution. Sit down, kid.
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 No.222131

File: 1620168659555.jpg (323.33 KB, 1600x900, 1616446663944.jpg)

>>222053
You had 10 years.
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 No.222165

>>219702
Because it isn't and it never was, that was always libertarian cope. At first they said it was going to be the "currency of the future" but when that was obvious to even them to be mostly an impossibility (outside of some proof of stake coins like nano, but likely not even then) they switched to coinz being a "store of value". But it tracks the stonks like everything else, at one point it correlated with TSLA by 95%.
Outside of speculation its primary use is to launder money, which is not necessarily bad especially for sanctioned governments.
if it is ever banned it will be precisely because a sanctioned government is using it.
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 No.222243

>>222131
>b-buh-but why didn't you join the pyramid scheme? ;_;
>don't you know you can profit if you adopt early? ;_;
Cope, lolbert faggot.
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 No.222251

>>222243
your loss
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 No.222255

Didn’t China ban them? I think someone here already explained how deflationary currency destroys economic growth by discouraging investment.
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 No.222295

>>222255
It was nakedly obvious to anyone with half a brain that crypto was token money, but actually difficult to produce, and a commodity, but no guarantee of permanence or use, like gold. So it had disadvantages of both fiat and commodity money, and none of their advantages, useful only for speculation and doing illegal shit.
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 No.222307

>>

 No.222309

>>222255
A huge portion of them are mined in China. It's good for China as it's basically a transfer of international currency to their miners.
No China didn't ban them.
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 No.222312

>>222307
lol the Chinese government are absolutely doing it
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 No.222316

>>222255

I think they banned exchanges, which smothers the domestic market. But it isn’t illegal to own crypto (“virtual assets”), and I’m not sure what the status is on moving it out of the country. There are still crypto miners in China, but they apparently exchange outside the country. I don’t know how that works because China has pretty strict capital controls, they try to manage how much money is flowing in and out and where it is coming from. So even if you exchange your crypto you mined in China for USD in a foreign exchange, you’ve got to bring the money back into China to use, or you have to buy foreign assets I guess and then bring the money back in from cash flows you get through that. But since miners still exist I assume they’ve found a way of not upsetting the Chinese state. China wants to have control over its finance industry, so naturally they’ve cracked down on baseless speculative assets like crypto being traded within China.
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 No.222327

File: 1620170846074.png (661.68 KB, 707x662, riddlemethis.png)

>>222312
>>222316
RIDDLE ME THIS!
WHY WOULD A GOVERNMENT SAY CRYPTO USE IS BANNED FOR YOUR PURPOSE, BUT NOT THEIR OWN?
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 No.222346

>>222327

They want control of their financial markets. I don’t blame them, they have broad plans for the Chinese economy that need to not fuck up if they don’t want social unrest. Speculative asset bubbles create social unrest.
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 No.222366

>>222346
What if I don't want them to have control of my assets
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 No.222374

>>219702
>why haven't they banned it yet?
Do we care though? I mean I had the same question the other day, and perhaps the answer is because they can be taxed. Earnings can be taxed at least. But anyhow I'm not sure what relevance this is to us. Fiat currency is a fucking joke and if crypto rattles the cages or does worse to fiat uyghurs like the fed and IMF, whats the down side to that?
>>

 No.222379

>>222374
It doesn't rattle the cages because bitcoin can't scale to the same transaction volume as fiat, it will only be a speculative "asset". Crypto as a concept might be able to replace fiat at some juncture, but not bitcoin as it exists. The blocksize is too small and the designers atm seem intransigent to increasing it due to libertarian autism.
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 No.222390

>>222366

Take it up with them man, we live in a society. It’s politics.
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 No.222391

>>222327
Riddles are supposed to rhyme, transhumanist
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 No.222395

>>222391
I don't dance for glowies
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 No.222398

>>222379
Ya, all true. I've never been too impressed by bitcoin. But for what it's worth I do recall Lagarde or whomever in an interview admitting some cause for concern when it comes to crypto.
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 No.222404

I have an absolute hatred for techbros and engineers. I mean absolute hatred of them, if anything I wish we can send the lot of them into a furnace and replace them with humble builders but deny them to participate in politics.

The belief that crypto is this super special thing that will do this or that thing to change society is so absolutely retarded. Just straight up retardation of a ridiculous degree. Anyone who tells you crypto is special is lying to you. Digital currency is no different that paper money in its implications. It's just digital now, woopty freaking doo. When the internet was made public, faggot engineers thought freedom was going to happen for all and that poverty was going to disappear. It's like saying the more money you print the richer everyone gets. Jesus fucking hell I hate tech bros. They should just stick to computers and never say anything about politics or societal forms.
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 No.222409

>>222404
>faggot engineers thought freedom was going to happen for all
No one thought that.
t. dollar uyghur
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 No.222431

>>222404
Only the very early adopters and designers actually believed in the project. Now it's just naked class interest masquerading as libertarianism, no one actually believes in it anymore, and a lot of engineers think it's just a speculative game unless they outright despise it (like me).

t. "tech bro"
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 No.222436

>>222404
I think you’re getting to caught up in the lolbert interpretation of crypto meaning free market capitalism. there are benefits to having a decentralized ledger manage data.
what with Web 2.0 going to shit and mainstream social media becoming unbearable outside of Facebook, it’s only a matter of time before people look for ways to decentralize it.
https://ipfs.io/
>>

 No.222438

>>222431
Don't mistake me about my blanket hatred, I only hate those who enter politics or economics or sociology and try to either ascribe "systems" to society or to profess technology as the almighty savior of societal issues.
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 No.222442

>>222436
Everything tends towards centralization in the current societal relations. There's no way out unless a revolution in those relations were to happen. So anything outside that is only a revolutionizing of productive forces, nothing more and nothing less.
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 No.222444

>>222442
I don’t see how any of this is relevant to modern social media being dogshit
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 No.222526

>>219702
Because it's just another way to do M-M'
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 No.222543

>>219702
>If cryptocurrency is such a threat to governments according to shitcoiners themselves, why haven't they banned it yet? Not even regulations to cryptocurrency are currently in sight.
>Woah, if communism isn't a threat to the U.S. government why communists parties aren't banned in the U.S. and their allies
>>219702

>All governments are quietly letting it spiral out of control, some are even adopting their own digital coins.

you answered your question yourself: They don't ban them because they want their own representation.
>>

 No.222545

>>219702
OP, I need more context for this pic. What experiment is the nerd-hippy doing on the chud?
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 No.222548

You can't do any serious investment using crypto, so you need to cash out
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 No.222549

>>221993
>making the record of their transactions in the crypto assets effectively anonymous.
Nonsense. Stoped reading here.
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 No.222648

File: 1620180613312.png (85.84 KB, 623x452, bitcoin white paper.PNG)

>>222549

intentionally obtuse I'd imagine, like all crypto cultists.
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 No.222871

File: 1620189422138-0.jpg (732.74 KB, 1192x1084, 1615692362600.jpg)

File: 1620189422138-1.png (102.23 KB, 1146x1058, 1615481301870.png)

File: 1620189422138-2.png (1.74 MB, 1150x3896, 1616574777840.png)

>>222549
>doesn't know what Monero is
Confirms what I said: you tards literally don't know anything about cryptocurrency.
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 No.222874

>>222871
>all altcoins work like Monero
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 No.222878

>>222874
whoa……… i sure said that………..
>>

 No.222881

>>222878
makes your point moot so keep coping, larper
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 No.222883

>>222881
you faggots can really do nothing but punch yourself in the face… autism
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 No.222884

>>222883
nope, still not buying crypto :^)
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 No.222900

It's literal speculation and a pyramid scheme.
It's actually starkly similar to how irl existing pyramid schemes have you attain "points" instead of money which allows you to give people a false understanding of value.

Find a currency exchange in most countries willing to give you 50,000 USD for the password to your Binance account or whatever
>>

 No.222919

>>222883
Don't feed the troll, lel
If he wants to act like a tard, let him be.
>>

 No.222966

Why do we have so many cryptohaters in this thread? I remember last year people were more open to read and know about cryptos and it was demythologized that cryptos are a lolbert concept.
There is some valid criticism, but none of them come from the anonymity or speculative nature of the cryptos.
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 No.222970

What exactly does bitcoin do for the world other than a lottery for the most reddit people in your life?
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 No.222974

File: 1620192359263-0.png (148.9 KB, 1130x1147, 40zi1zi22ks61.png)

File: 1620192359263-1.jpg (566.46 KB, 1044x1464, dfhdf.jpg)

File: 1620192359263-2.png (45.05 KB, 641x386, 1618810187357.png)

>>222970
Bitcoin is actually rather antiquated, there's a reason Monero has replaced it on the dark net. It's basically hated by regulatory authorities and tax agencies even more than other cryptocurrencies as well.,
I want a world where currency is redundant, but that will come organically, not from a state banning it.
>>

 No.223064

>>222974
How in the hell "security" translates into value? Those are two totally different things. Gold and silver aren't secure, bitcoin isn't (according to your posts), yet they are valued more than monero.

>>222966
Digital yuan and other such currencies will invalidate all cryptos
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 No.223069

File: 1620198029909.jpg (42.99 KB, 700x1045, brainlet.jpg)

>>223064
>How in the hell "security" translates into value?
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 No.223080

>>223064
it means its "untraceable" they use it in the fucking darkweb to buy drugs and shit retard
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 No.223081

>>222966
>why are people against currency on a communist imageboard?
I have no idea.
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 No.223086

>>222974
Has monero been going up recently or something?
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 No.223087

>>223086
I don't know. I don't even check. You don't time the market.
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 No.223089

>>223081
Yes sir. This is a communist image board not a puritan one.
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 No.223090

>>223081
>>223089
Whoops, dropped my rose.
>>

 No.223092

>>222966
They're mostly newfags. I realized even the mods are mostly newfags funnily enough (ie, post-2017 users)
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 No.223093

>>223092
Not pulling that out of my ass btw, I have talked to most of them
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 No.223095

>>223092
>if they aren't part of my cult they're actually newfags
Where's the correlation LMFAO

>>223093
>source: me
>>

 No.223096

>>223081
If you can't see how decentralizing power is good as an interim goal I dunno what to say, you're not a pragmatist
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 No.223097

>>223092
>>223093
>appealing to """"""""""board culture""""""""
this is getting sad now
>>

 No.223098

>>223095
>Where's the correlation LMFAO
The correlation is: I wasn't saying that specifically about crypto. I just noticed most of the current posters on this board are recent-arrivals.
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 No.223100

>>223098
I call bullshit because this place has a very stagnated userbase.
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 No.223101

>>223100
Anons don't remember jack shit from events as recent as 2017-2018. I have Noticed the Thing.
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 No.223102

File: 1620200051018.png (250.98 KB, 1000x442, noticed.png)

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 No.223206

>>223080
Yet the claim in the pics is that monero is the new bitcoin and will rise in value similarly. How do you translate security into this much of value in the future, lol? Yes, it has utilitary value for buying drugs and shit. Why do they claim that this utilitary value will lead to YUGE speculative rise? Latter doesn't automatically follow from the former.
>>

 No.223213

>>223206
It's use-value is actually being not state backed currency.
>>

 No.223244

>>223213
Okay? Why would it grow in price? Those pics speak of it as a certainty.
>>

 No.223247

>>223244
Why it's very simple. It just will.
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 No.223249

>>223244
Because no one trusts the fucking government, and as that trust continues to wane it's value will rise as more people see use in it.
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 No.223411

>>223096
>decentralizing and loosing control to an arbitrary system of the single most important tool for influencing the economy and human activity
literally the direct opposite of the communist objective you absolute moron
>>

 No.224120

>>222436
>outside of Facebook
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 No.224128

To be fair, isn’t this sort of like asking why being a communist isn’t illegal?
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 No.224139

How long until people start getting abducted and used for crypto mining operations?
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 No.224157

>>224139
>How long
until musk finishes neuralink
braincoin ?
>>

 No.224456

>>222966

Blockchain is just a distributed ledger system, a neutral development in computer networking technology, but “cryptocurrency” is the attempt to use it to create digital cash, which has failed because whatever the prevailing currency is in a market is always more valuable as the fundamental medium of exchange because it’s the one the state requires payments in. And I’m not even trying to do some MMT shit directly, I don’t care here about what gives a currency value as a unit of account in general. It is just self-evident that there are lower socially determined transaction costs associated with dollars than any cryptocurrency. You need to switch your shit for dollars at some point to pay the government, which goes moreso for businesses, which are the primary nexus of transactions in the economy. If you risk your capital on a venture you don’t want to be audited or deal with legal troubles because you’ve got some ideological interest in Bitcoin or some variant. At most, you may start accepting Bitcoin to draw market share from those people, but you are constantly flipping it back into dollars. And given that Bitcoin is periodically rising in value, there are disincentives to actually spend it in transactions because it resembles a speculative asset. Why spend your Bitcoin when you can just use cash and hold the Bitcoin in case it goes up again, or goes up more in the case of bull runs?

But the less people attach it to real economic transactions because of how common sense and risk-free it is to just transact in dollars, the more it just appears as a zero-sum speculative asset. Feel free to try to make money off of it, but it’s just gambling in a game of musical chairs. People pivoted to calling it a “store of value”, but a store of value is a hedge against market volatility. It isn’t a get rich quick scheme. The market and Bitcoin are skyrocketing right now, which clearly points to it just being another speculative asset in an asset bubble. If the market tanks people are more likely to cash out of Bitcoin along with everything else in a panic to move to low-risk assets.

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