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Medium of exchange or Strategic reserve for Bitcoin.
in Bitcoin Discussion
I was going through the thread about Bitcoin strategic reserve and it got me thinking.
Strategic reserve would increase the price and make Bitcoin more like a store of value
But adopting into a medium of exchange would mean the price wouldn't shoot again and become relatively stable
Because I can't really picture a medium of exchange that's quite volatile.

I understand scalability constraint, so it's more of an hypothetical situation to compare
Which would push the price higher and which would keep true to what Bitcoin was created for.

Sigh Now I don't even know what I'm talking about anymore  Tongue


In summary how would stability that I believe a accepted medium of exchange should have
Align with a decentralized asset?
Would stability always be hypothetical and scarcity drive price?
Or we have what money should be
One that don't fall with time but stay relatively consistent and keep up with price changes.


Sigh wtf am I even saying, will likely lock when I'm sober and awake.
#1
Re: One of my topics was deleted.
in Meta
Well, everyone has started criticizing me. Is it written anywhere that I can't copy other people's posts?
Even if it wasn't
I believe it should be basic courtesy or better still a form of common sense.
If you copy at least acknowledge the original poster.
Was it written anywhere that MOD don't delete posts?
If it wasn't then why did you ask in the first place.
#2
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
in Economics

At this rate, I think it's safe to say that MSTR is slowly turning to a whale on it's own.

Lol turning into a whale? They are fucking turning into a leviathan.
They can finally at least post that they are experiencing an unrealized profit rather than loss.
Hopefully this run continues but the world isn't Cinderella.
#3
Re: What's the community stand on this?
in Reputation
Like they usually say the forum doesn't moderate scams
And the approach you used before is still available
Though it pose a risk of being reported as unsolicited (I still find the penalty for this quite harsh since not all are as a result of bad intentions).
Just find a way to bring to the notice the user about what they are promoting.
You can also use mention though not everyone use notifier.
#4
Re: It keeps looking like centralisation is still in control
in Bitcoin Discussion
Quote
, it is like your own country needs to accept Bitcoin as means of settlement for you to take advantage of that.
I think I would focus on this part

The laws of your country affects you not Bitcoin and if it gets branded as a crime to use Bitcoin
There isn't much you can do if it gets known.


How People use Bitcoin doesn't change the fact what it is
As long as they don't start attacking it on a consensus level
Then any other action was a choice on your part.
#5
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
in Economics

It can be confusing in regards to custodial arrangements if some of the keys are being held in multi-signature arrangements accross different custodians.  My head starts to spin in regards to potential custodial arrangements and what might be disclosed or not disclosed and even purposeful claims that proof of reserves are not necessary to establish, even for public companies who have obligations to shareholders... and even in regards to the extent to which coins are being allowed to be rehypothecated.
This is the main issue I'm having
Most data on who owns what isn't accurate since we have nothing to back it
Custodians everywhere.
Saylor himself is aware of ZKP a means to give people some level of transparency
Without costing them much on privacy.

Quote
rehypothecation is being allowed and how much the overall bitcoin supply is being diluted by such practices and also the extent to which certain coins are being put at risk or leading companies to questionable behaviors when they don't have close to as many coins as the outstanding claims on the coins. 
Paper Bitcoin limiting the benefit of having a limited supply in circulation.
Imagine manipulations that would be going on in the backgrounds.
Don't trust verify
Really love that statement

They talk about audits to protect investors but we all know how the human heart works. Lobbying
#6
Re: bitcointalk banned in the Philippines
in Meta
So the government deemed that this is a way to better their economy
Taking decisions from a broken lens.
People also loss money from trading, I believe they should also banned Centralized exchanges.

Lol imagine talking about personal data at risk when they are against non KYC sites. Hypocrisy.
#7
Re: What Does Bitcoin Mean to You (haikus only)
in Bitcoin Discussion
It's been quite sometime I did an Haiku and I believe this should be in respect to the Sunday haiku tradition.

Silent, Sovereign
Numbers carved in time and trust
Freedom without kings



In love with Bitcoin.
The state can't track this asset.
Future currency.

A public ledger
Pseudonyms not hidden truth
Care guards who you are
.
#HaikuForBull#
#8
Re: If Bitcoin was centralized, would the price of BTC go down or up?
in Bitcoin Discussion

It occurs to me that Bitcoin wouldn't moon on the announcement, but rather over time based on massively increased mainstream adoption. In other words, Bitcoin would quietly prove itself to be part of the world's payment infrastructure and would start to get connected to everything--and wipe out hundreds of other products (including mine lol)--because it would suddenly be used for billions of everyday payments, which would reinforce it's place in the financial system. And all of this would lead higher prices as Bitcoin simply becomes an indispensable part of the system rather than just a thing you speculate on in your spare time. In other words, Bitcoin would go from being a toy to being a serious thing that people would rely upon in their everyday lives.

Hence I suspect that the initial market reaction might be muted, but longer term there would be much more upside.


I don't know if you don't know but Bitcoin wasn't created for everyone
It's an alternative but those that want decentralisation and self custody.
It's selling point and why most consider it a giant is because is the closest money to decentralisation we have.
Rather than Bitcoin becoming like Fiat
Why don't Fiat improve via CBDC.
#9
Re: Cold storage and why it is safer for longer time holding
in Nigeria (Naija)
Quote
Cold storage gives you complete and true ownership of your coin. That "Not your keys, not you coin" you dey normally hear na cold storage dey talk be that.
Non custodial gives you control over a key not cold wallet perse
Some Hot wallet are custodial while some are non custodial
Some non custodial are close or semi closed source like Trust wallet.
I would like to clarify something the difference between cold and hot is that
Hot is connected to the internet
While cold isn't
Example of Hot Is electrum while Cold is Trezor
The reason cold is considered safer is that you escape the risk of falling victim via the internet
Like phishing or malwares.

#10