Kithani
Blackwing Lair Raider
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Flobee
Vyemm Raider
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There are entire books written on the subject and if one doesn't understand the underlying problem its hard to sell them on the solution. I'll give it a shot but honestly your hit rate is going to be low unless they're willing to do some work to understand. There is really no way to do this effectively but below is my best attempt. By all means edit this or add as you or anyone else feels is appropriate. The message really does need to be tailored to the audience and what they already know or don't know.Can someone give me a good 1-2 paragraph explanation on why buy BTC? I’m getting a load of normie friends asking me. Common theme is “it’s literally not tied to anything”, “it doesn’t have a use” etc.
CCFlobee
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mewkus
Vyemm Raider
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Can someone give me a good 1-2 paragraph explanation on why buy BTC? I’m getting a load of normie friends asking me. Common theme is “it’s literally not tied to anything”, “it doesn’t have a use” etc.
CC
just ask chatgpt. get with the fucking program man.
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Haus
I am Big Balls!
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Can someone give me a good 1-2 paragraph explanation on why buy BTC? I’m getting a load of normie friends asking me. Common theme is “it’s literally not tied to anything”, “it doesn’t have a use” etc.
CC
"It's not tied to anything" - Neither is the USD in your wallet.
"It doesn't have a use" - It has just as much use as any stock you buy waiting for it to go up in price.
Unlike the USD in your wallet, it's not constantly having it's value eroded through inflation and your own government. It has value for the same reason gold, silver, and even currency does. Because people agree that it has value. And it's easier to move into and out of usable currency than physical gold or silver.
The underlying reason is that you don't want your stored value in something which depreciates (i.e. cash), you want it in hard assets which appreciate in value (real estate, to some degree stocks/bonds, precious metals, art, and now... BTC)
My personal belief is that you need a balanced blend of where you store your personal value/wealth. But in this day and age Crypto (and more specifically BTC) has earned a place in that mix. It's easier to manage than owning real estate, has a better proven track record of appreciation than the stock market, and doesn't require physical security like gold/silver.
But as mentioned, Grok that shit up. Probably a better value prop explanation there.
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Arden
Blackwing Lair Raider
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Interesting concept, but would need to see details on how it would be implemented. Seems like it would be super easy to abuse.
Also she's saying "crypto" not Bitcoin.
Flobee
Vyemm Raider
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They always do. Don't get it twisted, this is a
coin administration 100%.- 1
Lambourne
Bronze Baronet of the Realm
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It's not aimed at bitcoin, it's aimed at stablecoins. The idea is that you buy things from Temu with stablecoins instead of dollars, and that foreigners start using those stablecoins to trade within their own country or with other foreign countries rather than those dollars flowing back into the US. Basically, you give them dollars and those dollars stay outside the US, effectively giving the US the benefit of the goods received without having to give as much in return. This is what the dollar based oil trade has effectively done for a long time and it lets the US get away with more debt and lower rates than it otherwise could. They're trying to push that system into the next level.
If successful, this increases demand for the assets backing the stablecoins, such as t-bills. This keeps rates on them lower and lets the US get away with printing money for longer.
It's good for bitcoin indirectly in that it keeps the money printers going, which increases demand for inflation hedges. It's not without risk because once everyone flees into safe havens, those become overbought and the market sniffs that out eventually.
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Flobee
Vyemm Raider
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No source right now, but I'm hearing a lot of talk about stablecoins essentially driving credit card APR to zero. Since CC really exists as an intermediate to guarantor instant settlement a stablecoin that instantly settles could take a significant piece of that market.
Those fat fees CC charge vendors are 100% going to compress when banks are allowing stablecoin payments directly for essentially free. The development in point of sales tech will be interesting as systems like CashApp's PoS already accept lightning payments. Traditional payment rails are being disrupted and at least the immediately obvious affects all benefit the consumer by cutting out rent seeking payment rails companies
Those fat fees CC charge vendors are 100% going to compress when banks are allowing stablecoin payments directly for essentially free. The development in point of sales tech will be interesting as systems like CashApp's PoS already accept lightning payments. Traditional payment rails are being disrupted and at least the immediately obvious affects all benefit the consumer by cutting out rent seeking payment rails companies
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Arden
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Regardless of how this "new financial paradigm" plays out, there's a few things I'm certain about:
1. The majority of changes will benefit corporations, not consumers.
2. Middle men won't be removed from the equation, but they'll be replaced by different Middle men.
3. Likewise, some annoying things like cc apr might go away, but they'll just be replaced by new annoying things, like purchase tracking and some form of "gas" fees (just examples).
Always kind of amusing seeing plebs (including myself here) optimistically discussing the future when it's
going to be a "meet the new boss: same as the old boss" scenario.
Best you can do is try to get out ahead of the changes and turn a little profit before you get fucked in the ass by the new guy.
1. The majority of changes will benefit corporations, not consumers.
2. Middle men won't be removed from the equation, but they'll be replaced by different Middle men.
3. Likewise, some annoying things like cc apr might go away, but they'll just be replaced by new annoying things, like purchase tracking and some form of "gas" fees (just examples).
Always kind of amusing seeing plebs (including myself here) optimistically discussing the future when it's
going to be a "meet the new boss: same as the old boss" scenario.Best you can do is try to get out ahead of the changes and turn a little profit before you get fucked in the ass by the new guy.
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Flobee
Vyemm Raider
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We need a boomer doomer reaction. Don't you ever get tired of whining about the future that's going to be forced on you by "them"? Everyone is free to believe what they want, but defeatist attitudes always rub me the wrong way. If everyone acted like this we really would be doomed. Also most of the boomer doomers don't have kids, shocker. No clue if that applies here just a general point.
The entire trajectory of human history is not down, it's just been that way in our lifetime, doesn't mean it has to be for our kids. Sure this could all end with us in pods, but that's not my base case
The entire trajectory of human history is not down, it's just been that way in our lifetime, doesn't mean it has to be for our kids. Sure this could all end with us in pods, but that's not my base case
Khane
Got something right about marriage
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You can call it a defeatist attitude all you want. The rest of us grown ups will just continue calling it reality
Flobee
Vyemm Raider
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Not to derail too hard, but in what sort of competition or contest of any sort does one come out ahead with this sort of attitude? It's a loser mindset and it leads to being a loser. You can be realistic about how the world is without presuming defeat before change has really even happened.
Yes powerful people want things to continue to suck for you, but you have to be blind to not see that the world is changing at an alarming clip. That change does not have to be for the worse, but if everyone takes on this wimpy attitude it will definitely end bad.
Grown up? Bunch of weak men is what it sounds like to me. Lord willing the future depends on your betters and not you.
The promise that Bitcoin represents has a genuine chance to fix a broken BASE LAYER of the modern world. It's not a guarantee but we're living through history right now, try not to quit before the fights even really started.
If you don't see what I'm talking about here, I question if you're paying attention.
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Asshat Foler
Log Wizard
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Sanrith Descartes
You have insufficient privileges to reply here.
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Wait until MA and V buy the new middlemen and then it's meet the new boss, same as the old boss.Regardless of how this "new financial paradigm" plays out, there's a few things I'm certain about:
1. The majority of changes will benefit corporations, not consumers.
2. Middle men won't be removed from the equation, but they'll be replaced by different Middle men.
3. Likewise, some annoying things like cc apr might go away, but they'll just be replaced by new annoying things, like purchase tracking and some form of "gas" fees (just examples).
Always kind of amusing seeing plebs (including myself here) optimistically discussing the future when it's
Best you can do is try to get out ahead of the changes and turn a little profit before you get fucked in the ass by the new guy.
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