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El Salvador adopted Bitcoin as national currency?

Discussion in 'YachtForums Yacht Club' started by Drifter, Dec 24, 2021.

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  1. Drifter

    Drifter Member

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    Gold is just a scarce type of dirt to which ancient humanity ascribed value due only to its scarcity. It has no practical application. Bitcoin is decentralized (out of the control of a central govt) and a way better mousetrap that was borne as a reaction to the centralized intentional bubble that was the 2008 great financial collapse. Who owns the patents to extract more gold from seawater and sewage? Certainly not the little guys. Yes, most crypto are crap coin ponzi schemes that are an intentional distraction from Bitcoin, so buyer beware.
  2. Drifter

    Drifter Member

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    Ethereum's algorithm can be changed, as can many others whose volume is not finite. So buyer beware when it comes to those cryptos. Bitcoin's distributed ledger copies are saved on thousands of computers all around the world. So 1 hacker will get rejected by consensus when attempting to change 1 out of thousands of ledgers.
  3. Drifter

    Drifter Member

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  4. Capt Ralph

    Capt Ralph Senior Member

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    Well, Seems I was W,,, Wr,, Wro,,
    Incorrect in my comment above. It was a real news report.
    However, seem still to be a muddy issue.
  5. Drifter

    Drifter Member

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    Modern life is coming at us fast. All property ownership transactions, including yachts, will soon be stored on the blockchain. Everyone needs to learn it.
  6. rtrafford

    rtrafford Senior Member

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    Again, cool story, but you're missing the very fact that folks behind the curtain regularly modify the rates of creation. Even a pyramid scheme works right up until the time that it does not. Are you missing that because you don't understand, or are you missing that because it disrupts your shower of self confidence?
  7. rtrafford

    rtrafford Senior Member

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    Ahh, modern life. Amana produced the radarange oven in 1967. Modern life was going to make the standard oven obsolete. The truth is that the oven was developed by Bell Labs in the 30's, and it never replaced the traditional oven or cooktop.

    Modern life. Embrace it. Breath it in. But don't ever go all-in. I still prefer my classic rock played on a turntable.
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  8. rtrafford

    rtrafford Senior Member

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    Well. Let's see. Are you relying on a "modern" periodic table? Gold is not dirt. Gold does have specific value applications. Try making a semiconductor using Bitcoin. Bitcoin is absolutely "centralized", but just not controlled by one country. The creation and intent of Bitcoin was NEVER based upon the financial collapse of 2008, an event that had very, very little to do with the dollar itself.

    I'm thinking you might be in need of more research and education prior to continuing your speaking engagements promoting your crypto-of-choice. Just because Bitcoin is "modern" doesn't make it a reliable panacea foundation of an economy. Much like the financial crash of a decade ago, most of these economic crises are not based upon problems with the dollar itself. They are much more related to a designed bastardization of economic activity that can be Bitcoin-based just as easily as it was based in dollars. The problem is very rarely the currency, but rather what is being done with it or to it.

    And it is no less prone to human manipulation than any other form of currency.
  9. rtrafford

    rtrafford Senior Member

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  10. Slimshady

    Slimshady Senior Member

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    "Thou protest to much"
  11. Drifter

    Drifter Member

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    Bitcoin development: who can change the core protocol? | by Alex Galea | Medium
    What are the odds that 95% of the thousands of miners worldwide would agree on a change? Do you prefer centralized (govt insiders) or decentralized (we the people) control?
  12. rtrafford

    rtrafford Senior Member

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    This is tired and circular. What is and has been at question here in this thread is your profound confidence that the system is safe and reliable, that it can't be gamed or manipulated. Your continued pimping of the concept is duly noted by anyone visiting this thread. Good luck finding investors in your mining company.
  13. leeky

    leeky Senior Member

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    Did you read the article that you referred us to in your link? An example was given where >95% of miners agreed to a change. Also, the "we the people" that control Bitcoin are only the last 2016 miners, not the regular people who hold Bitcoin.
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  14. Drifter

    Drifter Member

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    Are your dollars safe when the central govt decided to print 26% more of them through manipulation since the beginning of the pandemic? Inflation is simply devaluation of the dollar. Inflation is theft but people are somehow happy that the ink on their paper statements increased while ignoring that their purchasing power has decreased. I don't own any mining equipment. Bitcoin is outside of the control of central governments because it is a series of permissions that is authenticated on thousands of computers worldwide (decentralized). For those who like gold, governments (centralized) haven't have enough gold to support US dollars since 1971. Fun fact: Canada's central bank holds no gold. For anyone who sees value in gold's scarcity, Bitcoin is far more scarce and has practical application, while the insiders are increasing gold's supply by 10% per year, thus devaluing your gold's value. Nothing is impossible. Nothing is guaranteed. This is not financial advice. Just saying, Bitcoin is decentralized while nearly every other currency, property and asset can be manipulated by a centralized authority.
  15. Slimshady

    Slimshady Senior Member

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    Ok, we've heard enough, move on now.
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  16. rtrafford

    rtrafford Senior Member

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    Your sales pitch has shifted from "Bitcoin can't be manipulated" to "Dollars are manipulated". Had you begun with "Dollars are manipulated", no one would have had issue with your pitch.
  17. Drifter

    Drifter Member

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    Yes, credit cards are basically money. When you buy and sell stocks and mutual funds, the Clearing House will take 2-3 days to decide if you can have your money. Why shouldn't you have your money nearly instantly like the decentralized nature of Bitcoin? The Fed is working on Fedcoin (centralized) to replace paper US Dollars, but then they will be able to control what you purchase. The grocery store can deny your meat purchase if you already used up your meat allotment ration for the month. Gotta save the planet, you know. In some ways, the Fed is riding the decentralized nature of Bitcoin in the hopes that people won't notice the centralized control of their Fedcoin. Don't expect the mainstream media to volunteer the unpleasant future.
  18. Drifter

    Drifter Member

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    What if the govt decides to ration (manipulate) sales of power boats in the future to save the planet from climate change? Don't laugh. Others have laughed decades ago at things they never thought they'd see happening today. It would just be nice to buy a boat in El Salvador.

    Peace out.
  19. Bystander

    Bystander Senior Member

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    For a website dedicated to discussions about yachts this is not appropriate here. Please take this discussion somewhere else.
  20. cleanslate

    cleanslate Senior Member

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    Can you put on ''Supertramp / Crime of the Century '' album for us now and crank it up till the varnish cracks on the Burger hand rails....seems like a good call?
    rtrafford and T.T. like this.
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