37andhappy
Recycles dryer sheets
- Joined
- Jun 24, 2008
- Messages
- 187
Snipped for focus.
I said way upthread that blockchain technology is something I might invest in. I think the technology is revolutionary and will be used widely in finance and commerce.
I would have to decide if untraceability is better than traceability. If I'm not doing anything illegal then the none of the professionals involved in the transfer process are going to care. If I am paying my taxes and complying with the law then the government can get a warrant to look into what I am doing. I don't like that idea but I am not at risk from it.
So I don't understand rational people using bitcoin and incurring risks and inconveniences with only intangible benefits. I don't mean the folks who bought a few when they were cheap and novel or to earn a discount as someone mentioned. I just question why a rational person, even someone who deeply values privacy, gets in their head that they need to send bitcoin rather than dollars, pesos, pounds, euros, or whatever.
It's a free country. If people want to own bitcoin or invest in it they should be allowed to. It's just not something I have any interest in.
It doesn't really make sense to say you will "invest in blockchain". This is like saying "I will invest in the internet". Blockchain describes a mathematical concept, not an actual investable asset class per se.
You are naive if you think you are not "at risk" from the Government knowing how you are spending or storing Government issued money. It may not be obvious, but you are already being harmed significantly from the Government knowing your finances - taxes being but one obvious example. Government encroachment and control over our lives can become even more sinister and insidious over time, once we see a Government issued digital currency. Watch what happens in China in the next few years as an example.
As for the "folks who bought a few coins when they were cheap", its quite possible that when you look back in a decade, the value of a Satoshi will seem ridiculously cheap at current valuations. If the logarithmic growth of adoption playing out on bitcoin continues, it would reach phenomenal value over time, realized by many only in hindsight.
Noted you have no interest in owning Bitcoin. But that may be the problem - ie - you probably should be taking an interest in this. You still have the opportunity of becoming a whole-coiner, which in the future could be a major distinguishing factor of social class, intellect, political values, and wealth. The irony is that you are in a 1st world and "free country", with some obvious intelligence, and with the means to secure this status, and yet we have literally Billions who will be scrambling and scrapping away to acquire Sats with ever increasing effort as time passes.
I've seen people with your type of resistance when BTC was at $6, $60, $6000, $60000 etc. Trust me - it never seems like a "good time to buy" when something seems to have grown so strongly! I would urge you to dip you feet into the market, if only for the experience. It may just open your thinking in relation to money to an entirely new mental framework. Old dogs learning new tricks and all that...
Last edited: