It's the same with credit cards and anything online, the consumers eat that shit up.
CryptoPonzi BTFO
Adrian Nguyen
Noah Turner
Uh no sweetie, if I use my own money (no credit) then I don't pay shit to anyone. My only fee is the prepaid card issue & support fee.
Julian Hughes
Wrong. The fee is part of the regular price that even those who use cash pay. You think you are the one winning when dealing with banks? How delusional are you?
Daniel Brown
If you're a wageslave, inflation is pretty much irrelevant, since the prices of both labor and consumer commodities are effected equally by currency inflation (it's true that the "real dollar" price of labor has stagnated, but this is due to neoliberalism, not inflation). If you have substantial amounts of savings, inflation encourages you to put them in an interest-earning deposit, better yet an investment instrument such as a bond or fund, or best of all to engage in entrepreneurship and seek out promising enterprises for investment.
Seriously, look up "free silverites" and the "cross of gold" speech, deflationary money was debunked over a century ago.
Not saying capitalism is great, but it's the system we have to work within at the moment, and a step up from feudalism.
TOP CONMAN
The actual source of fiat money's value is that it's the only legal tender for paying taxes. If taxes didn't exist, there would be no demand for dollars.
Hunter Anderson
Bitcoin isn't a "promise" like a paper dollar is. Bitcoin is the currency itself. There's nothing to exchange it into.
The practical use is that it ensures the integrity of the network. If everyone stopped mining, it would be trivial to execute a 51% attack on the network.
You can send a transaction with no transaction fee if you want.
Brayden Morris
There's no inherent reason why a cryptocoin couldn't simply be "pre-mined", eliminating the pointless waste of mining.
Jose Howard
circular argument discarded
Nathan Peterson
Mining is the process which adds transactions to the blockchain. Are you saying the blockchain should already contain every single transaction that will happen in the future. I don't believe we have the technology to predict the future yet.
Maybe you misunderstood me. Mining does not ensure the integrity of mining. If I had said that, that would be a circular argument. If you reread what I said, I explained that mining ensures the integrity of the bitcoin network.
Hudson Nelson
Which also believes in printing money. The whole system is fundamentally dishonest and always leads to collapse. The cryptos represent the first time in millennia that we have the ability to try something new in the banking space. Advocating for printing money is the past.
Sebastian Edwards
It exists solely to encourage excess calculations for the sole purpose of pyramid scheme activity, rather than just to execute transactions. It's not strictly necessary, and cryptocoins do exist without it, e.g.:
fair-coin.org
Granted, all such coins I'm aware of are still deflationary, and of course this doesn't solve the transaction efficiency problems that exist in all current blockchain tech, but there are a number of potentially viable solutions in the works that could make blockchains work for useful volumes of transactions.
Neoliberalism has little to do with monetary policy. It consists of fpur things: 1) Offshoring. 2) Mass economic immigration. 3) Privatizing natural monopolies. 4) Deregulation.