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I like to tell people I have an imaginary dog. It fits my needs perfectly except for one critical issue --- it won't clean up food dropped on the floor. Bitco
by jqpabc123 5mo ago
I like to tell people I have an imaginary dog.
It fits my needs perfectly except for one critical issue --- it won't clean up food dropped on the floor.
Bitcoin is imaginary money. It works perfectly except for one critical issue --- it's not very good for purchasing stuff.
Bitcoin has about the same value as my imaginary dog.
- tigereyeTO 5mo agoContrived. Your imaginary dog can’t teleport value across the globe instantly, but Bitcoin can.
- darth_avocado 5mo agoValue can only teleport if someone is willing to trade traditional currency in exchange on the other side. My no international fee bank account also teleports value across the globe instantly and more merchants are willing to accept it than Bitcoin.
- avmich 5mo agoTelll it to my friend who was escaping a country under sanctions and had to move his money elsewhere. His bank didn't have that miraculous power, but Bitcoin did.
- malfist 5mo agoYes, I agree. Bitcoin is great for crime.
- FireBeyond 5mo agoEven as someone who thinks crypto is an absolute cesspool, and while acknowledging that even in the "move cash" scenario that the vast majority of it is shady, from avoiding taxes to ... whatever, to be honest, I can't get too mad if it helps the "average person" who is sincerely escaping a "problematic" country/home do so.
- KetoManx64 5mo agoThe U.S. dollar is the #1 currency used for organized crime.
- malfist 5mo agohttps://xkcd.com/1138/ https://xkcd.com/1138/
- KetoManx64 5mo agoVery true: - US Dollar: Backed by the US government, which has a monopoly on violence over its citizens and pretty much the entire world. The Federal Reserve has the ability to print new dollars as demanded by US government policies and is responsible for funding the endless conflicts that the US has been involved in overseas for the last 100 years. The inflation of the US dollar cripples the middle class and weights down future generations with debt that they will never be able to pay off. - Bitcoin: 100% free of any kind of force, created by an individual who believed individuals should have sovereign control of their money and is 100%. Due to the limited supply cap it makes wars unfundable and actually increases in value as the years go on so you can pass it on to your children and their children.
- darth_avocado 5mo ago> Value can only teleport if someone is willing to trade traditional currency in exchange on the other side. If no one paid traditional money to your friend on the other side, he’d have no money. Also, whoever was sanctioning the country, can also very well sanction and seize the bitcoin if they’d like.
- beAbU 5mo agoThis argument is always held up as an argument for bitcoin. I swear it's sometimes the only one that bitcoin proponents can think of!
- KetoManx64 5mo agoYour "no international fee bank account" also inflates away at 8-10% a year if you're holding US dollars in savings. And about the same or more for other currencies. The Federal reserve has printed 1/2 of all dollars in existance in the last 6 years, and deflated the value of your dollar by around half. While I can buy a cup of coffee with bitcoin, I'd rather use the federal reserve notes that are backed by nothing but empty promises from government institutions that look down on you.
- darth_avocado 5mo agoSomehow dollar held in banks inflates away savings but bitcoin that is down 15% in 5 days is safer? Hilarious
- KetoManx64 5mo agoBitcoin is down 15% after being up 10,000% in the last decade... while the dollar is worth 50% of what it was 5 years ago. If you bought bitcoin at $10 or even $1000, what do you care if it drops down to $60k for a week? The world must be very confusing when your time preference and economic scope is 1 weeks worth of data.
- ceejayoz 5mo ago> Your imaginary dog can’t teleport value across the globe instantly, but Bitcoin can. "Someone can instantly and permanently steal your beloved dog and you'll never see it again" is a downside.
- jjulius 5mo agoThe fact that people have instantly and permanently stolen Bitcoin renders that argument moot.
- amelius 5mo agoThat's only because many people share the mental image of the imaginary dog.
- deejaaymac 5mo agoI use bitcoin to pay for things several times a month, works fine for me.
- cozzyd 5mo agoAre you paying Strait of Hormuz passage fees, perchance?
- malfist 5mo agoI use USD to pay for things several times a day. Sometimes many times a day. Something that in comparison works only "several times a month" fits the criteria of not being very good at it.
- beAbU 5mo agoOther than drugs and mullvad, what else are you buying?
- lern_too_spel 5mo agoCan your imaginary dog be stolen by Russia and North Korea to circumvent sanctions? Are people buying "ownership" of your imaginary dog in a speculative frenzy that will cause the last bagholder to take a bath when there are no more greater fools? It's true that your imaginary dog, like Bitcoin, has no good legal use; but your imaginary dog is harmless. Bitcoin is not.
- ToucanLoucan 5mo agoDon't forget the flagrant use by politicians to grift their supporters and/or receive money that would otherwise be illegal to do so from foreign actors through it. Truly amazing that the tech elite have replicated everything wrong with the existing financial system while not managing to get any of the actual good, useful parts.
- KetoManx64 5mo agoBecause foreign actors never "donate" hundreds of thousands of dollars to "charity" organizations run by US politicians or their families? Bitcoin didn't change anything, other than permanently instript those transactions into a public ledger for everyone to see.
- potsandpans 5mo ago[flagged]
- beAbU 5mo agoThe thing about tortured analogies is that when a camel stubs its toe in the desert it's liable to start speaking french.