Topic: Be rich sheeple or free people, what's your choice? - page 4. (Read 871 times)

I am not sure about this as the forex and stock markets are also centralized but there are still millions of participants and the number is constantly growing as it is still profitable for them. So in the event that bitcoin becomes centralized but continues to be volatile, people will still invest in bitcoin, IMO.

But that will never happen because the government cannot control bitcoin, it will remain a decentralized asset for us to use. This is just a hypothesis but it's interesting to see many people are willing to give up their wealth for decentralization, but I hope all of those answers are the true.

I prefer to be a free person who can provide for my family, guarantee my children's school fees and can provide simplicity and coolness for my family. Therefore I try to set aside a little of the income I get from work to invest independently and this particular plot aims to pay for my children's education up to college later. In my opinion, there are no options that we can choose if there are no opportunities and this is where we need to prepare everything in a structured and gradual manner according to the finances we have.

We live in the real world and many stories start with a long process, so many things need to be arranged and executed to reach the desired stage of life. Real life depends on how we prepare for it and bitcoin can be a medium for someone to reach the stage of independence and can also generate decent returns if invested properly.

How rich do you even think Satoshi is? Well, he may be worth nothing if we go by the logic that the name is even a pseudonym. Satoshi hasn't revealed himself and those wallets suspected to be his haven't moved since. So, his Bitcoin are only worth what they were at inception which was virtually nothing.

Now, this is the part where you've to wake up and smell the coffee because that's not going to happen. I've yet to see a single currency that's accepted everywhere globally, not even the British pounds and the American dollar. I don't expect the entire world to stand still for Bitcoin. Nope, that isn't going to happen. Again, make Bitcoin centralized and it will destroy its credibility.

I choose to be rich and be a free man

It will be more interesting to achieve in this life because to achieve or get wealth is not easy, and only a few people can afford to pay the price. The point of paying the price here is taking the time to learn more, try more, and find more sources of income.

And we can't blame circumstances that don't go our way because of the many things around them. Bitcoin is present among us from many countries, and each has its government where not all governments approve of bitcoin. We must accept it and try to benefit from what happened. Do what you think is right and keep going, and don't give up if you haven't achieved what you want. One day, you will surely be rich and free if you wish.

If I am going to have this wish and bitcoin is gonna turn into the Centralised nature then I am more than happy with the current version and current acceptance level of the Bitcoin. I mean what we experiencing today is the result of decentralised nature of Bitcoin and without that it would have never evolved to such great extent. If centralised workflow is in nature then there is government or other authority that will literally control the prices of Bitcoin. Forget about 1000x mark because in that case it would plot a straight graph with only few ups and downs whenever government will think that it’s time to scoop some profits. So whoever this genie is, he should not interfere with this wish. May be just ask him to make you billionaire and be happy.

If it's just a wish then let's make everyone accept Bitcoin so that there will be no problems with the government. But I just don't like the twist that everyone is subject to listing their addresses and they can seize it. Well, I'd still choose that if the value goes that much and I'll just take the money, sell them anyway and will have my own exit. But yes, this is highly unlikely so these situations are good to think of but if we go in reality, hopefully that the best for Bitcoin and us will actually happen without the need to sacrifice those good attributes that it has got even before.

I prefer a decentralized approach for Bitcoin. Governments shouldn't control everything; they can allow Bitcoin usage and impose taxes when dealing with centralized organizations. I value my financial freedom and wouldn't want a centralized cryptocurrency under government control. It's more likely they would create their own cryptocurrency instead of centralizing Bitcoin, which would be technically challenging.

I don't think that bitcoin is legalized in every country but in those countries in which bitcoin is acceptable a tax is deducted when one person send its digital money to the other person same is the case with the transfer of digital money into other currency tax is deducted from it.

If bitcoin become centralized then I think there will be less individuals enter into bitcoin investment because everyone wants bitcoin due to its decentralized nature as it is not under the control of anyone the price regularly changes to give benefits to its holders.

I'll choose the first option, dump all BTC, use that wealth to buy a wide variety of assets - real estate, stocks, gold, cash and so on. Some of the assets will be dispersed to serve as a safety net in case this dystopian government will try to rob me. Or maybe it's just better to take all that wealth and immigrate to a freer country.

I have so many questions and so little desire to hear the answers! Of course, I don't believe for a second you're doing that but even thinking of ...gently used fleshlight. Although one could go for 2000 on ebay
https://www.youtube.com/watch?v=88pu3n3UFlQ


I don't know if OP thought of that, but this one is actually a trap!

He said that the price will be forever 30 000$ , and since the dollar value in purchasing power will continue to go down this actually means you're basically stuck with fiat, in 20 years those 30 000 might be rent money for a few months.
So, if it's indeed a trick question the second option is way worse than the first!


In South Korea most exchanges require that you provide an address that is hosted on a platform that enforces KYC.
So if everyone would do that you won't be able to withdraw money out of a closed KYC circuit, as more Bitcoin enter this scheme fewer are left outside the loop and keep being sucked into this closed system.
As more and more cash is accepted by stores and deposited to bank accounts while less gets withdrawn from ATM, we have the same scenario happening RL even now

And anyhow, we're talking about a mentally challenged genie, everything is possible with this scenario

LE:
I know I'm going to regret it but here is 1 merit, thinking about it, talking about fleshlights and genies is better than the usual how to succeed in life garbage. Not by much, but still!

This is the reason why Satoshi invested Bitcoin at first place. Decentralization.

Now in this one, you want the government "AGAIN" to have a full control over your coins? What's the use of Bitcoin for? Very unrealistic one TBH. Bitcoin will not get accepted anywhere because there are already some governments who are banning their people to use crypto in their own country which is kind of unfortunate if you will ask me. Overall, I don't see this happening especially the part where government will have full control again because for sure many Bitcoin users will be against it.

The fact that Bitcoin can't stay at $30,000 is already a proof that this will like the first one, very unrealistic.
Bitcoin isn't like other stable coins out there that is pegged to a dollar.

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TBH, it's hard to pick which of the 2 will I choose not because it really is hard to choose, but it's hard to think that neither of the 2 will happen in real life . Sometimes, imagination let us come up with situations that can't happen in real life. Imagination really is very creative . Will not pick between the 2 because both are unrealistic.

Let's consider the U.S. Constitution - First Amendment: "Congress make no law respecting an establishment of religion or prohibiting its free exercise. It protects freedom of speech, the press, assembly, and the right to petition the Government for a redress of grievances."

As you all know, the US Congress has shown some unfriendly attitude towards Bitcoin and cryptocurrency exchanges. Well, the issue lies in the fact that legal firms engaged by cryptocurrency projects and exchanges in the USA employ ordinary swindlers who collect hundreds of millions of US dollars from these ignorant fools, offering no specific solution to legalize Bitcoin and establish regulations for this market for US citizens. Well then, the lawyers of Order 2.625 (whom many of you might laugh at or not take seriously enough) have proposed a practical solution for the legalization of Bitcoin in the USA, citing the first amendment to the US Constitution. After all, Order 2.625, as the Decentralized Religious Organization Order 2.625 (DROO 2.625) in the person of the North American Diocese (Eparchy) and plebeians of the Order, is nothing but a religious movement, consequently, according to the Constitution, the US Congress has no right to prohibit the plebeians of the Order from using Bitcoin, as Bitcoin is the ceremonial monetary unit of the Order and serves as our religious symbol (similarly to the Kirpan for Sikhs) BTC

In this sense, Order 2.625 is grateful to all the preceding religious movements in the USA (especially Protestants and Catholics) for creating this convenient loophole for us in the fundamental law of the state.

And if anyone has questions about our religious rituals of Liquidation on Cryptocurrency exchanges, each of which will be subject to tribute and governed by the Great Liquidator appointed from among the influential plebeians of Order 2.625, then the special division within the Order - "The Hounds of Bitcoin" can remind such ignoramuses about the second amendment to the US Constitution. After all, there will always be a few religious fanatics-loners in any Order, always ready to challenge any unpleasant words directed towards the Order.

Indeed, it's decentralized nature what makes Bitcoin more valuable since the government couldn't even control it or put a tax in any transactions. Just imagine how fiat money works today then most likely that would also be the case of Bitcoin but wouldn't increase over time and in the end would settle in a stable price. It's volatility makes Bitcoin good as it changes it's value time to time, many people taking advantage of this situation by just simply buy the bear and sell at the bull. And you could also make an anonymously transaction in Bitcoin so if it's centralized maybe it would be good for them to trace any illegal transactions as they have the data of the user. And also I think government would take a lot of time figuring how to handle Bitcoin with unstable price.

Hahaha, the OP will not kill me with laughs here, just saying it as if it's gonna happen that way. Well, Bitcoin is an opportunity, but it's an opportunity that comes with its own risk and caution, it's not always totally what people say of it, which is why I advise the OP to wake up from the fantasy world.

The OP talked about many things but I will reply to a few, and one of them is that tax is good for any nation, if your country's tax is stopped today, what will become of the governance, those subsidies, infrastructural developments and the status of your country? We should not be selfish, Bitcoin is good but also has its flaws, and it also aids in abating your contribution to an economy, but some of you rather appraise it which is bad.

None of the scenario seems so realistic. How would the price go 1000x if the government can take anyone Bitcoin as they pleased, people wouldn't buy bitcoin if those happened why would they use a currency where the government could take it whenever they want, this thing will make bitcoin even worse then fiat. And it also the reason I wouldn't want to take the 1st option, doesn't matter if I got 1M BTC worth of 30B USD when the government can take it from me whenever they want, I would choose the 30K/Bitcoin but all of my Bitcoin is save and I can use it however I pleased. And that's why people will want to buy bitcoin and so the price will go up.

What I see we have to pay taxes from centralized exchanges every time we engage in a transaction and even those taxes are automatically deducted when we try to convert to fiat. The first point you are trying to narrate is not in line with the concept of bitcoin and that is not how decentralized it works. Until now bitcoin is not legal tender in my country and it is best to control it myself rather than giving access to the government.

Regarding KYC it's up to each person whether they want to use it or not because there are still exchanges that don't need it. Honestly, I just want it to be as simple as possible to get involved in bitcoin and that anonymous nature is what keeps us safe from all the possibilities that will happen.

Although OP's idea is a bit unrealistic as there's no way bitcoin becoming centralized and controlled by the government can go up 1000x in price.
But I want to ask all of you who are confidently choosing option b, are you telling the truth? Because the majority of people are looking for wealth from bitcoin, even they are willing to use centralized exchanges for their convenience. Not to mention transaction fees are a small part of the transaction, but they also complain that the transaction fees of DEXs are too high compared to CEX. They don't want to spend a lot of money on transaction fees and they accept the loss of privacy to use CEX. How could they choose to trade their wealth just for decentralization?

I really doubt these answers because what a lot of people are looking for is profit, money, and privacy not being the top priority when it comes to bitcoin. Many people talk about decentralization, anonymity, but they still use banks, social networks…and they come here just to lie that they love decentralization more than money.

We don't have to lie, let's be honest.

Register addresses is like KYC. How do governments control what addresses you own. One person can own many addresses with non custodial wallets and governments can only know what is your address if you KYC on centralized exchange. They only give you one deposit address to use and you have to KYC on their exchange so it can be leaked to governments.

With non custodial wallets, it is impossible except if governments prohibit all non custodial wallet softwares. But how will they succeed to do that? I believe they won't.

If things go well like this, how will price not go up?

Your two scenarios are purely non sense and unlogical. The first one is bad and price goes up 1000x times while the second scenario is good and price stuck. Impossible.

It's a good ethical dilemma. I think that in practice, we won't have any of these options but something in the middle. However, if there was a choice like that, I would choose the second option, where Bitcoin stays at $30k, but people have freedom of using it without having to pay taxes, go through KYC etc. I don't really focus on the prospect of growth of the price, I'm okay with the current one. And this way, Bitcoin fulfils its purpose better, being a currency that gives financial freedom rather than another investment asset that is fully integrated into mainstream economy.

Option A looks enticing because I expect my small Bitcoin holding to make me rich. But the consequence of having more is loss of freedom. And financial freedom is better than having all the money. If Bitcoin's price grows but it is highly regulated, it is like having more and owning nothing. Centralization gives the government total access and control over your coin. Just like a savings account in the bank, you can't claim ownership of funds in the bank. The government can decide to enact a law and confiscate all the funds in banks.

So I will gladly choose option B that gives me total ownership of my money. I might not have much from my Bitcoin investment, but I own and have full control over my coin. Privacy is a priceless asset. I don't want people to cheaply know how much I own because living a private life has many advantages.