This podcast with Berkeley professor Nicholas Weaver contains arguments on why everything blockchain is complete hogwash.
But they don't, right? Do they even accept Visa? Would the Cuban government even allow such a thing?fluidistic said:That's the idea, i.e. that local stores accept cryptocurrencies
Any government is what is is if you can keep it. To me, anarchy is just the vacuum that exists before the guy with the most guns takes over. But most such countries are an odd dichotomy because while the power is absolute in depth it is limited in breadth. So it's a dictatorship and anarchyjack action said:Anarchy is a society being freely constituted without authorities or a governing body. Zimbabwe does have a governing body and It has very repressive laws. It is the complete opposite of anarchy; It's what you have in the "free world" (restrictions & obligations) elevated to the power of ten.
We have similar definitions there, there is just sometimes a debate about that, so I wasn't sure what you are after. Yeah, I generally put a threshold of a year (per the IRS capital gains threshold) to separate "investing" from "gambling" or "trading".jack action said:Speculating isn't investing, it's gambling. You can gamble about anything. Investing is putting money into what has an actual value (assets or revenues).
Not of nobody is accepting it for trade.jack action said:If you send US dollars to a Cuban, what would he do with it? He would trade it (even if it is not the country's official currency). He would do the same with bitcoins.
In other words it is better for black market trading than dollars. Maybe, if enough people have access to computers to trade it and it becomes widespread enough to be useful...but not widespread enough that the Cuban government gets wind of it and cracks down on it.jack action said:What @fluidistic is saying is that you cannot send easily US dollars to Cuba because banks (and others) cannot process the transactions by law. Or maybe a bad government could intercept the transaction and keep it for itself. Sending Bitcoins from US to Cuba is probably illegal too, but because anyone can do it with an Internet connection, it is easy to do without all the paperwork.
I'm pretty sure I've never done a financial transaction where I had to wonder if what I was doing were illegal, much less specifically plan for evading government oversight of my known illegal activities. Yup, I agree that cryptocurrency is good for that. Nope, I don't think that's overall a virtue even if the limited case of illegally supporting people living under oppressive governments could be viable. Which I don't think it is anyway.jack action said:It's all about if you think the law is fair or not. And if you think the law is necessary, maybe it causes unwanted collateral damages to innocent victims. Cryptocurrencies could theoretically help.
https://www.bankofengland.co.uk/-/m...2014/money-creation-in-the-modern-economy.pdfPeroK said:I have no idea what bitcoin is or what it's for. Is there any purpose in my learning about it or am I better off in my current state of ignorance?
As far as I know, right, they don't currently in Argentina, although from what I read, they have a few options to convert cryptos to pesos, but I don't know what it's worth.russ_watters said:But they don't, right? Do they even accept Visa? Would the Cuban government even allow such a thing?
It's hard for me to see how this idea could be realized.
Crypto“jack action said:Cryptocurrency is (should be?) cash for the cyber era
There is no money problem but a human problem. Harbouring vested interests let's the mind reason its way out of glaring flaws by any means necessary. Just as religion, bitcoin requires suppression of rational thought and adherence to dogma. This is why bitcoin corrupts, absolutely. No amount of wealth or technology will turn vice into virtue. So, change yourself to change the world (48). “But what about the assholes?” First, look into the mirror. Second, to remedy financial fraud we have to fine the culprits excessively and throw them in jail. Lest we want trial by pitchforks (49). Curbing greed will take time and collective effort. It is a symptom of a sick society in which “Fulfillment by Amazon” tries to replace fulfillment by vocation. Reduced to a number, many a look for a golden ticket. Therefore, GDP* needs to yield for UBI; the economy should serve humanity and nature, not the other way around. —https://www.cynicusrex.com/file/cryptocultscience.html
Whether blockchain is the most efficient way to do it is another question. I don't think so, but at least it's not a pyramid scheme.a digital euro that is linked to the IBAN financial system and is completely open source, non-profit and transparent.