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I'm trying to imagine how you think that'd work without them also running an exchange and eating slippage, or maintaining a massive hot wallet.

by tal8d 6y ago

bob33212 6y ago
You could make it a debit card and require people to deposit BTC. But in general the USD is a better settlement currency. That is why BTC isn't being used in transactions. BTC is a pump and dump play.
- tal8d 6y ago
  lol, so nothing even close to an off chain network - but somehow the "same value". Well, except for the real time cryptographically secure stuff - but nobody wanted those values anyway. 10+ years is a pretty long con, that satoshi is one patient fraudster.
  - bob33212 6y ago
    satoshi obviously isn't part of the con. He would have sold a long time ago if that was the case. It is the people who have latched on as "bitcoin evangelists" and are recruiting more people into the network to get the price to go up. Classic Ponzi scheme.
    - tal8d 6y ago
      So not a "Classic Ponzi scheme", but the opposite - where Charles Ponzi is the victim of "people who have latched on". That is twice now that you've claimed something based on a bizarre redefinition. Even if there were some kind of campaign of revolving pyramid schemes over all these YEARS, bitcoin is net positive... while pyramid schemes operate at a deficit all the way up to the point where they go to zero.
      - bob33212 6y ago
        I think you are right, this doesn't perfectly fit with existing definitions of other scams. This is more like the beanie baby situation combined with some libertarian political beliefs.
        tal8d 6y ago
        But the beanie baby craze only lasted 3 years. The CBOE didn't start trading beanie baby options. NIST didn't begin several beanie baby focused work groups and studies. The IRS didn't provide tax guidance on beanie babies... You guys really need to update that script, but I do congratulate you on dropping the tulip mania talking point - given the fact that there is no evidence it ever happened in the first place.
        bob33212 6y ago
        I never suggested this was tulip mania. Nice strawman there.
        tal8d 6y ago
        ...that is why you were congratulated. Nice reading comprehension there. I've had this exact conversation at least a dozen times over the years, it is formulaic. There is always a claim of some kind of nonsensical fraud, after that unravels then it turns to speculation about mass delusion, and it usually ends with political appeal/slander and "we live in a society!" Every year there are positive developments and evidence of wider interest, but the opposition's script has remained unchanged. I got into it with a tech reporter a while ago who was obviously very emotionally invested in bitcoin being a fad/scam/bubble, after searching archives of his timeline I understood why: he had been predicting bitcoin's demise, very confidently and regularly, since back when it was trading at $130. Every year it gets funnier.
        bob33212 6y ago
        I never said there wasn't wider interest. I said the opposite, I said that the enthusiasts are activity looking to expand the number of people investing. If you want to talk about previous conversations around this, the ones I have had always end in people believing that decentralization or cryptography are magical words that solve all kinds of problems without creating new ones. I have never invested in currency so the price doesn't matter to me. I assume it will go up proportional to the number of people that can be convinced to invest.

I'm trying to imagine how you think that'd work without them also running an exchange and eating slippage, or maintaining a massive hot wallet.

by tal8d 6y ago

I'm trying to imagine how you think that'd work without them also running an exchange and eating slippage, or maintaining a massive hot wallet.

bob33212 6y ago

You could make it a debit card and require people to deposit BTC. But in general the USD is a better settlement currency. That is why BTC isn't being used in transactions. BTC is a pump and dump play.

tal8d 6y ago
lol, so nothing even close to an off chain network - but somehow the "same value". Well, except for the real time cryptographically secure stuff - but nobody wanted those values anyway. 10+ years is a pretty long con, that satoshi is one patient fraudster.
- bob33212 6y ago
  satoshi obviously isn't part of the con. He would have sold a long time ago if that was the case. It is the people who have latched on as "bitcoin evangelists" and are recruiting more people into the network to get the price to go up. Classic Ponzi scheme.
  - tal8d 6y ago
    So not a "Classic Ponzi scheme", but the opposite - where Charles Ponzi is the victim of "people who have latched on". That is twice now that you've claimed something based on a bizarre redefinition. Even if there were some kind of campaign of revolving pyramid schemes over all these YEARS, bitcoin is net positive... while pyramid schemes operate at a deficit all the way up to the point where they go to zero.
    - bob33212 6y ago
      I think you are right, this doesn't perfectly fit with existing definitions of other scams. This is more like the beanie baby situation combined with some libertarian political beliefs.
      - tal8d 6y ago
        But the beanie baby craze only lasted 3 years. The CBOE didn't start trading beanie baby options. NIST didn't begin several beanie baby focused work groups and studies. The IRS didn't provide tax guidance on beanie babies... You guys really need to update that script, but I do congratulate you on dropping the tulip mania talking point - given the fact that there is no evidence it ever happened in the first place.
        bob33212 6y ago
        I never suggested this was tulip mania. Nice strawman there.
        tal8d 6y ago
        ...that is why you were congratulated. Nice reading comprehension there. I've had this exact conversation at least a dozen times over the years, it is formulaic. There is always a claim of some kind of nonsensical fraud, after that unravels then it turns to speculation about mass delusion, and it usually ends with political appeal/slander and "we live in a society!" Every year there are positive developments and evidence of wider interest, but the opposition's script has remained unchanged. I got into it with a tech reporter a while ago who was obviously very emotionally invested in bitcoin being a fad/scam/bubble, after searching archives of his timeline I understood why: he had been predicting bitcoin's demise, very confidently and regularly, since back when it was trading at $130. Every year it gets funnier.
        bob33212 6y ago
        I never said there wasn't wider interest. I said the opposite, I said that the enthusiasts are activity looking to expand the number of people investing. If you want to talk about previous conversations around this, the ones I have had always end in people believing that decentralization or cryptography are magical words that solve all kinds of problems without creating new ones. I have never invested in currency so the price doesn't matter to me. I assume it will go up proportional to the number of people that can be convinced to invest.