Bitcoin and its power of freedom - page 2.

Cz-Silk

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Activity: 28

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Quote from: EarnOnVictor on February 28, 2023, 10:10:12 AM

Quote from: tranthidung on February 28, 2023, 09:35:13 AM

Pyramid scheme is everywhere, every industry and it is not limited in Bitcoin or cryptocurrency.

Let's get something straight here, Bitcoin is not a pyramid scheme, and nothing in its mode of operation suggests or encourages such. A pyramid scheme is a referral-sustenance scheme that often collapses over time, and a typical example is a Ponzi scheme. In the end, there are always victims and it relies on new subscribers for it to thrive.

Bitcoin is certainly nothing like that, no one is compelling anyone to bring another person/subscriber for the sake of benefit(s).

I think you understood the friend's answer wrong, what he meant there are companies in the real world that use bitcoin and financial pyramid cryptos, he didn't mean that bitcoin is a pyramid!

rhomelmabini

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Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

Quote from: Cz-Silk on February 28, 2023, 07:48:01 AM

The first impression of btc is that you will get screwed by false people that it is a pyramid scheme. The more you study the net, the more you'll fall in love with it. BTC brings that power of freedom and no totalitarian state is going to take that away! That's my thought today about btc.

You'll only get screwed if you don't know what you invest in, investing in something you don't actually know is far more than a blind investment. Pyramid schemes that were introduced as investments, trading, mining, etc. by these fraudulent people just to hide their motives are the thing that kills adoption most of the time for crypto. Let us all thank Satoshi Nakamoto and the people that made us realize what Bitcoin is today and the future that may comes.

EarnOnVictor

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Merit: 641

Leading Crypto Sports Betting & Casino Platform

Quote from: tranthidung on February 28, 2023, 09:35:13 AM

Pyramid scheme is everywhere, every industry and it is not limited in Bitcoin or cryptocurrency.

Let's get something straight here, Bitcoin is not a pyramid scheme, and nothing in its mode of operation suggests or encourages such. A pyramid scheme is a referral-sustenance scheme that often collapses over time, and a typical example is a Ponzi scheme. In the end, there are always victims and it relies on new subscribers for it to thrive.

Bitcoin is certainly nothing like that, no one is compelling anyone to bring another person/subscriber for the sake of benefit(s).

Cz-Silk

newbie

Activity: 28

Merit: 5

Quote from: kryptqnick on February 28, 2023, 09:44:59 AM

A totalitarian state is about total control, and that includes economic control, but it's first and foremost about political control. Bitcoin gives freedom, yes, but it is economic (financial) freedom, not political. A state that aims to control citizens more is unlikely to be pro-Bitcoin, but might allow it if there is a good reason because a bit financial freedom is not what this state wants to control the most about its citizens. Also, Bitcoin's power can unfortunately be greatly limited by the state and circumstances. For example, Bitcoin is a decentralized form of money, but how empowering is it when the merchants don't accept it as a form of payment? Bitcoin is pseudonymous, but how helpful is it if the state requires all legal exchanges to impose KYC? So it's not all that simple, unfortunately, even though Bitcoin does give some power of freedom.

Yes, this is very complex, but over time and with new ideas, the community can adopt other mechanisms to escape KYC. That would be a great discussion about this subject that sooner or later is already imposing in our lives in a silent way.

Quote from: tranthidung on February 28, 2023, 09:58:14 AM

Quote from: Cz-Silk on February 28, 2023, 09:49:21 AM

Many people leave their btc in exchange

If you know anyone like that, please introduce them to read Reminder: do not keep your money in online accounts

Quote

I usually when I receive a few reais of my currency I prefer to accumulate and every time it drops I buy a few fractions of btc then withdrawing it to a self-custody wallet.

It's a good practice but if the amount you receive or accumulate is small, I'd suggest you to hold it on exchanges for a while and only withdraw it to your self-custody wallet when your calculation shows that withdrawal fee does not eat up the amount you have.

Centralized exchanges charge very expensive withdrawal fee even they do batch payment for many user withdrawals.

Old story. Exchanges get profits from users' withdrawal fees.

Yes I understand, I try very hard to evangelize my friends, but they don't care or are not interested, I've tried to evangelize my family but they say I'm crazy. This is not just an investment and when I understand this I am not afraid of the falls that bitcoin has.

[moderator's note: consecutive posts merged]

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Cz-Silk on February 28, 2023, 09:49:21 AM

Many people leave their btc in exchange

If you know anyone like that, please introduce them to read Reminder: do not keep your money in online accounts

Quote

I usually when I receive a few reais of my currency I prefer to accumulate and every time it drops I buy a few fractions of btc then withdrawing it to a self-custody wallet.

It's a good practice but if the amount you receive or accumulate is small, I'd suggest you to hold it on exchanges for a while and only withdraw it to your self-custody wallet when your calculation shows that withdrawal fee does not eat up the amount you have.

Centralized exchanges charge very expensive withdrawal fee even they do batch payment for many user withdrawals.

Old story. Exchanges get profits from users' withdrawal fees.

Cz-Silk

newbie

Activity: 28

Merit: 5

Quote from: tranthidung on February 28, 2023, 09:35:13 AM

Quote from: Cz-Silk on February 28, 2023, 07:48:01 AM

The first impression of btc is that you will get screwed by false people that it is a pyramid scheme.

Pyramid scheme is everywhere, every industry and it is not limited in Bitcoin or cryptocurrency.

Quote

The more you study the net, the more you'll fall in love with it.

It's not completely true. There are supporters (Bitcoin maximalists) and there are haters. Bitcoin is not able to convince everyone to love it.

Quote

BTC brings that power of freedom and no totalitarian state is going to take that away!

Again, it's untrue and inaccurate.

Have you ever heard a saying "Not your keys, not your coins" that is originated by Andreas M. Antonopoulos.

Video

Your statement is only true if you store your bitcoin in a non-custodial (aka self-custodial) wallet and own its key.

Perfect in analysis. Many people leave their btc in exchange, I usually when I receive a few reais of my currency I prefer to accumulate and every time it drops I buy a few fractions of btc then withdrawing it to a self-custody wallet.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

A totalitarian state is about total control, and that includes economic control, but it's first and foremost about political control. Bitcoin gives freedom, yes, but it is economic (financial) freedom, not political. A state that aims to control citizens more is unlikely to be pro-Bitcoin, but might allow it if there is a good reason because a bit financial freedom is not what this state wants to control the most about its citizens. Also, Bitcoin's power can unfortunately be greatly limited by the state and circumstances. For example, Bitcoin is a decentralized form of money, but how empowering is it when the merchants don't accept it as a form of payment? Bitcoin is pseudonymous, but how helpful is it if the state requires all legal exchanges to impose KYC? So it's not all that simple, unfortunately, even though Bitcoin does give some power of freedom.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

I quite agree with tranthidung. The OP seems to be expressing enthusiasm rather than an objective description of facts. He is partly right, at first it sounds strange to the uninitiated and the media have made it sound like something that is linked to scams and organised crime. Besides, bitcoin can help you to be more financially free, but regulations can affect the environment a lot, especially if we think that most people buy and sell bitcoin on centralised exchanges.

But hey, let the OP enjoy his enthusiasm, I guess he will moderate his enthusiasm over time.

Cz-Silk

newbie

Activity: 28

Merit: 5

Quote from: Nwada001 on February 28, 2023, 09:17:57 AM

When you see something you don't understand, you try to study it, and when you study it, you will understand it, and when you understand what you study, you develop an interest in it, and from the interest, you dedicate your time to learning more about it, and if it's of your interest, you fall in love with it.

I have come to realize that the more I invest in it, the more positive vibes I get from it. The technology is just too perfect for me to say no to; it's life-changing, and I am making it a part of me that cannot be broken.

Perfect! the network is consolidating every day, the more the state tries to repress our social class that comes from poor communities, the more we see the importance of using this tool against totalitarian control, it comes from a class where the state is repressed and exists without freedom , where with little political power you become a slave and lose your freedom, I got to know btc and the community and right away I am already adapting and I feel part of the network, in the future I want to improve my knowledge and somehow help the network to evolve. This is my mission here on earth!

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Cz-Silk on February 28, 2023, 07:48:01 AM

The first impression of btc is that you will get screwed by false people that it is a pyramid scheme.

Pyramid scheme is everywhere, every industry and it is not limited in Bitcoin or cryptocurrency.

Quote

The more you study the net, the more you'll fall in love with it.

It's not completely true. There are supporters (Bitcoin maximalists) and there are haters. Bitcoin is not able to convince everyone to love it.

Quote

BTC brings that power of freedom and no totalitarian state is going to take that away!

Again, it's untrue and inaccurate.

Have you ever heard a saying "Not your keys, not your coins" that is originated by Andreas M. Antonopoulos.

Video

Your statement is only true if you store your bitcoin in a non-custodial (aka self-custodial) wallet and own its key.

Nwada001

hero member

Activity: 700

Merit: 673

When you see something you don't understand, you try to study it, and when you study it, you will understand it, and when you understand what you study, you develop an interest in it, and from the interest, you dedicate your time to learning more about it, and if it's of your interest, you fall in love with it.

I have come to realize that the more I invest in it, the more positive vibes I get from it. The technology is just too perfect for me to say no to; it's life-changing, and I am making it a part of me that cannot be broken.

Cz-Silk

newbie

Activity: 28

Merit: 5

The first impression of btc is that you will get screwed by false people that it is a pyramid scheme. The more you study the net, the more you'll fall in love with it. BTC brings that power of freedom and no totalitarian state is going to take that away! That's my thought today about btc.

Topic: Bitcoin and its power of freedom - page 2. (Read 251 times)