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Gradually, Then Suddenly
in Bitcoin Discussion
I received the book Gradually, Then Suddenly as a gift, alongside  Bitcoin Standard. I think this is essential reading for anyone who wants to understand Bitcoin.

I recommend it to everyone before they start writing about or commenting on Bitcoin. You can read it here.
https://nakamotoinstitute.org/library/gradually-then-suddenly/table-of-contents/
#1
Re: Bitcoin tax makes no sense
in Bitcoin Discussion
Bitcoin is peer-to-peer money. If you want to understand why Bitcoin is money and what money actually is, you should read Carl Mengers  “On the Origins of Money” or the books “ Bitcoin Standard” and “Broken Money.”

Of course, governments do not want you to understand what money is.They want you to use fiat currencies. Fiat currencies are not money. There is a difference between currency and money.Fiat means you are forced to use it by coercion, because in Latin the word fiat means “let it be done” or “it shall be.”Of course, they do not want to recognize Bitcoin as money. Instead, they frame it as a speculative asset, some kind of digital property, or even a Ponzi scheme for quick profit, where you supposedly sell it to a bigger fool for a higher price and then, of course, pay tax on the difference.

But once you go deeper down the Bitcoin rabbit hole, you begin to realize why  no sense to treat Bitcoin as a taxable asset, because Bitcoin is money, and money is a medium of exchange, a store of value, and a unit of account.
#2
Re: What to buy?
in Altcoin Discussion
Bitcoin is really a good investment. But aside from bitcoin, what cryptocurrencies one must have at this season? The goal is for keeping it/them for a long period of time and the profit when the time is right.



Bitcoin is not an investment. Bitcoin is peer-to-peer money.Money has three functions of use.medium of exchange, store of value, unit of account

Medium of exchange means something people use to exchange value for goods and services.A store of value is something that preserves purchasing power over time, so it can be exchanged for goods and services in the future.A unit of account is something used to measure and compare the value of goods and services.
Since Bitcoin is money, it is not an investment but savings.

There is no better form of money than Bitcoin.There is no second-best cryptocurrency.Almost all other cryptocurrencies are mostly scams.Scammers exploit people’s lack of understanding of what money is, what Bitcoin is, and why its purchasing power rises, in order to create fraudulent tokens and coins out of thin air and then sell them on the market.Save only in Bitcoin if you want to preserve and increase your purchasing power. Everything else is  gambling.
#3
Re: [OPEN] 1win International Sig. Campaign Featuring Telegram APP | Instant Payout
in Services
Forum rank: Senior member
Bech32 address: bc1ql0z5xw0cxaev84wn405ytx9n4fxlmljdzx2eny
#4
Re: How is the use of quantum computers and Bitcoin updates coordinated?
in Bitcoin Discussion
I see that there are many who consider quantum computers as a threat to Bitcoin!!
I think that Bitcoin technology will also be updated in line with quantum, so there will be no problem.

 Huh But one thing has come to mind, if someone wants to damage the Bitcoin system or system information with the help of quantum computers before Bitcoin technology is updated in line with quantum, will it be possible?

I would like to know the opinions of blockchain and Bitcoin technologists and those who work on quantum issues and new technologies!!! Shocked

Quantum computers are mostly just FUD pushed by various fraudsters. For example, people from the Ethereum Foundation were listed on Google’s report, which suggests to me that it was paid promotion. Quantum computers are still decades away, at least another 50 years. Before they affect bitcoin money, they will first be used in other areas such as fiat systems, banks, Visa, Mastercard, and many industries
Bitcoin will be updated to protect against quantum-vulnerable addresses long before quantum computers become a real threat, so there is no need to worry.

Vitalik and Scam Bankster-Fraud

https://www.youtube.com/watch?v=aWbnaEBR3u4
#5
Re: Why Blockchain Is Essential in the Economic and Political Framework of a Country
in Politics & Society
In the current context, the political policy of any poor country is 99.9% wrong, and the politicians of that country do politics not for the development of the people and the country, but only for their own interests.

And in all those countries, blockchain technology is not only necessary but essential for the functioning of the financial structure (prevention of inflation) and correct voting, But the sad thing is, when the corrupt politicians of these countries understand the power of blockchain technology, they want to suppress and ban it on some pretext or the other.

Not only that, they also get busy giving their pretext a logical form!

That is why revolutions and coups are often seen in countries of conscious people!!

Blockchain is just a decentralized database. It is slow and inefficient. Although it was invented in the early 1990s, it never found real-world use until Satoshi discovered how to apply it to Bitcoin.
Blockchain doesn’t make sense to use for anything other than Bitcoin,  decentralized and neutral money.Mainstream media pushed the blockchain narrative to downplay Bitcoin. Then various scammers took advantage of that narrative, claiming that blockchain could be useful for things other than Bitcoin, in order to sell their scam tokens to naive and uninformed people.But generally speaking, beyond Bitcoin, blockchain doesn’t really have any meaningful use cases.
#6
Re: Paul Krugman on Legal Tender, Currencies, and BTC
in Bitcoin Discussion
https://paulkrugman.substack.com/p/the-dollars-special-status-sources

This is a great article about how to properly look at the role of currencies, including the USD and (by implication) Bitcoin.

Krugman says the same thing that I've said here many times: that the USD is never going to go away as a unit of measurement. And all Bitcoin amounts to is another means to move around USD-denominated value. Nobody says, "please give me 0.029827 of Bitcoin", rather they ask for some amount of USD in Bitcoin.

Indeed, the idea that "Bitcoin will replace the USD" is... idiotic. That idea simply makes no sense--it's like saying TCP/IP is going to replace the USD.

Definitely worth reading if you are interested in the long-term role of Bitcoin in the world, and how it fit in to human value transfer.




Most people who use Bitcoin do not speak in terms like 0.00000030 BTC. They say 30 sats, using sats as the unit of account.If you do not understand that Bitcoin will eventually replace the US dollar, then you have not gone deep enough down the rabbit hole. You do not understand what money is, and you do not understand fiat currencies.You need to start studying this topic on a deeper level and go down the rabbit hole,instead of reading nonsense from clueless people on the internet.For a start, I recommend researching this text, which later became the foundation for a book on the same topic. https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1  I recommend starting with these books: On the Origins of Money by Carl Menger, The Bitcoin Standard by Saifedean Ammous, and Broken Money by Lyn Alden.

Read this text by Nick Szabo, who is most likely Satoshi Nakamoto.
https://nakamotoinstitute.org/library/shelling-out/#money

Once you read all of that and study it more deeply, you will probably have that moment of realization my God, how did I not understand this before After that, you will want to explore even more. Reach out to me, and I will send you more interesting books and texts.
#7
Re: Bitcoin is one of most evolutionary innovation in history - Bank of America
in Bitcoin Discussion
Bitcoin is not an innovation, it is a discovery.It is a discovery, like fire or electricity.

It is not easy to understand. You have to go a little deeper down the rabbit hole, but once you do, things start to make much more sense.
#8
Re: Freezing BTC on legacy addresses (non QC-resistant) with BIP-361
in Bitcoin Discussion
I've read about this new proposal from the Bitcoin Core development team, which aims to freeze Bitcoin stored on legacy addresses if they're not "upgraded" to a Quantum-Resistant address on-time. More info about that here: https://bitcoinmagazine.com/news/bitcoin-developers-propose-quantum-plan

Does that mean long-term collectors of loaded physical Bitcoin collectibles (particularly, slabbed/graded coins) are at risk? Because such a move would force collectors to break the slabs just to redeem the Bitcoin inside the loaded collectible (like a Casascius for instance). Talk about inconvenience.

What do you think about this? Will it gain the approval of the community? Your input would be greatly appreciated. Thank you.

I think the word “freeze” is the wrong one. Nobody’s money will be frozen. I haven’t looked at the proposal, but the most realistic approach would probably be to give everyone  15 years to move to quantum-resistant addresses.After that period, any Bitcoin that remains on older addresses would no longer be usable.

An alternative would be to keep it accessible, allowing anyone to move it in 30 or 50 years once it becomes possible to unlock it with quantum technology. That would be similar to today, when someone discovers an old shipwreck that was carrying 100 tons of gold at the bottom of the ocean.

Since we are still early and Bitcoin is at the beginning of its monetization process, this second option could cause significant market disruptions.
#9
Re: Why Bitcoin is Compared to Gold.
in Bitcoin Discussion
Currently Bitcoin is too valuable. Bitcoin can be compared to gold because of it value.most times people normally call it gold digital,
 but we need to actually know the relationship between this too phrase and why it's compared.
Now the reasons why Bitcoin is compared to gold is as follows
Gold is very difficult to find because of it value, the product gold, can't never controlled by any government or country, because of it's independence, both Bitcoin and gold appeals to people who distrust way out of financial method.
From creation, Gold is wealth, which is very valuable and have trust on, that is what makes it acceptable.
From 2009 when Bitcoin was launched, it's still as new as it was launched today, because of it value to the society. Although the Price is  volatile, but is preferable. that's why it' only exists disitally, this made people to trust and partner without fear, transactions can be made in an twinkle of an eye, to any place around the world. Gold as well is generally accepted globally.
Gold has weight, and it's high to export, now Bitcoin is trying to stand what's gold can afford, this both phrase has a high value of standard, one thing you need to also know is that gold is gotten from mining, and Bitcoin is created in a digital system.

Bitcoin is money

Money emerges on the free market. The market chooses as money the things that are best suited for storing and transferring value.These characteristics are called monetary properties.These characteristics are called monetary properties. They are important because they determine whether something can function well as money over time. The main monetary properties are scarcity, durability, divisibility, portability, recognizability, and fungibility. These qualities matter because good money must be hard to inflate, easy to store, simple to transfer, easy to verify, and reliable in trade.For a better understanding of what money is and how it emerges, it is worth reading On the Origins of Money by the Austrian economist Carl Menger, The Bitcoin Standard by Saifedean Ammous, and Broken Money by Lyn Alden.
#10