Banking on Bitcoin



An ideological battle is underway between fringe utopists and mainstream capitalism. Banking on Bitcoin takes a look at what this …


37 Comments

  1. From my understanding, a blockchain address and it's transactions are visible to everyone. You only have anonymity as long as no one knows that you own that address. The difference between buying something with cash and buying with crypto is that the crypto transaction is recorded on the blockchain for everyone to see forever. Paying cash you don't have to share that transaction with anyone.

  2. Except for the facts, I totally agree: Bitcoin is anonymous. Hell, everything online is anonymous. I mean I haven't had Circuit City call to tell me my credit card has been compromised in, what, 15 years? Twenty years? Same with Crazy Eddie's. I'm in. Oh, wait… that's expensive. Give me $10 worth of that new Scooby-Doo coin instead…

  3. What sets these cops apart from others is their willingness to learn and not let their ego get in the way. Black dude could have done without the shit talking towards the end.. but I get it, he's pissed.

  4. If Charlie goes to jail for tangentially helping people buy drugs down the line. Why aren't ATM's abolished? Should all cash be banned and held responsible for crimes committed farther down the line?

  5. 'Bitcoin', is not a 'coin' nor is it a 'currency'. 'Intrinsically', it is worth less than air- and ACTUALLY pollutes it [Bitcoin 'mining' consumes lots of energy, and it's actually not 'mining' at all, it's a waste of energy].

    To buy in, you pay with 'fiat' currency, lets say.. US Dollars. You will also pay a fee in US Dollars to have an amount of US Dollars 'converted' to Bitcoin. That money will be tied up until you 'sell' it or 'convert' it back. You will be charged a fee for this action as well.

    The price of Bitcoin goes up as more people buy in to it with fiat given the supply remains the same. That is what gives it its value, people paying fiat for 'Bitcoin'. 'Fiat' is vital to the propagation of 'Bitcoin'. That's how it is appraised- its appraisal is in fiat itself, making it extremely redundant and wasteful.

Leave a Reply

Your email address will not be published.


*