Decentralization things are awesome but in some country

Kelward

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Quote from: Abhishek0.2 on January 19, 2024, 11:27:53 PM

On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Moreover, even in today's most free countries there still is money debasement and control over what people can buy.

Bitcoin enforces absolute scarcity, something unprecedented.

Bitcoin offers the holder privacy and freedom to carry out transactions without the involvement of centralized authorities, no third parties and no limitations, this is why many governments sees it's decentralization as a threat and they'll do everything possible not to see it work in their countries. But you can't keep a good thing under the carpet, so despite the challenges that Bitcoin has faced, being banned or it's usage having restrictions in these countries, the adoption keeps increasing because people are becoming more aware that it's a valuable asset to hold.

paxmao

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Quote from: Ruttoshi on January 20, 2024, 12:12:27 PM

Quote from: Abhishek0.2 on January 19, 2024, 11:27:53 PM

On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Moreover, even in today's most free countries there still is money debasement and control over what people can buy.

Bitcoin enforces absolute scarcity, something unprecedented.

You know that we are in a centralized world, where everything you so from childhood till date is recorded. The day you came to the world, the school and houses and everything that you do in your country that involves the government is recorded. This is why initially when bitcoin came into existence there was a strong force fighting against it because they see that it will limit their power on citizen financial lives. The government love to be in control of their citizens so that they can manipulate them in one way or the other.

However, it is not everyone that understands the benefits of decentralization and that is why, you see that some people will not adopt bitcoin because they only believe on what the government created and they think that whatever is not from the government will fail. Some people that bitcoin is still illegal in their country, they are also scared to adopt it because they don't want to to go against the law, so that they don't get jailed because they lack the proper knowledge of what decentralization is.

From a philosophical point of view I would say that in a decentralised world, all transactions that you will ever make are effectively recorded and not only in one place, but in a million copies of the transaction register.

Look, decentralisation is not that helpful when you live in a country that lacks the basics freedoms. Cryptos are not a solution to every problem out there, certainly it helps totalitarians and not alike.

Hispo

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I can give my own commentary and experiences on how Bitcoin and alternative cryptocurrencies are very useful in totalitarian countries and countries where there is a significant amount of corruption.
In free countries and countries where law is correctly enforced one can expect to have trusted third parties and intermediaries to help anyone of us to carry out transactions and transfers of value without us having to fear about the integrity of our money. Here it is different, nobody in their right mind would trust the bulk of the savings to a regular bank account, specially if it is an account controlled by the state, they reserve the right to question you, seize your money, even arrest you if there is no evidence of crimes like money laundering.
There is a very good reason here in my country Bitcoin and Stablecoins are very popular, so are exchanges like Binance. Either of those entities are controled by our stupid and bad government, so people have moved onto them.

kentrolla

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In simple words decentralization i mean Bitcoin and other crypto gives you freedom to send or receive funds in form of crypto without being questioned or noticed or charged by the government as this is good for some business related transactions, tax evading and money laundering, and terror funding are the reason described by the most of the governments for their hostile nature towards the decentralization wherein these things were happening even before invention of Bitcoin. Some countries will never be decentralization friendly as they want to control everything we do which shows their corrupt nature of governance.

Ruttoshi

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Quote from: Abhishek0.2 on January 19, 2024, 11:27:53 PM

On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Moreover, even in today's most free countries there still is money debasement and control over what people can buy.

Bitcoin enforces absolute scarcity, something unprecedented.

You know that we are in a centralized world, where everything you so from childhood till date is recorded. The day you came to the world, the school and houses and everything that you do in your country that involves the government is recorded. This is why initially when bitcoin came into existence there was a strong force fighting against it because they see that it will limit their power on citizen financial lives. The government love to be in control of their citizens so that they can manipulate them in one way or the other.

However, it is not everyone that understands the benefits of decentralization and that is why, you see that some people will not adopt bitcoin because they only believe on what the government created and they think that whatever is not from the government will fail. Some people that bitcoin is still illegal in their country, they are also scared to adopt it because they don't want to to go against the law, so that they don't get jailed because they lack the proper knowledge of what decentralization is.

jrrsparkles

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Quote from: Abhishek0.2 on January 19, 2024, 11:27:53 PM

On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Moreover, even in today's most free countries there still is money debasement and control over what people can buy.

Bitcoin enforces absolute scarcity, something unprecedented.

Decentralised monetary system allows the people to spend their money with complete freedom. But Bitcoin will not decrease the gap between rich and poor people, it should be accomplished by the government policies and help the people who are in need by giving employment opportunities to unemployed, tax reduction on goods that everyone buys and increase the corporate taxes to compensate these expenses.

btc78

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Quote from: Abhishek0.2 on January 19, 2024, 11:27:53 PM

On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Well even in some countries where the citizens have control over decisions for their nation, it is entirely subjective to the citizens themselves if they find decentralization useful

We all have different reasons as to why we all like decentralization maybe others use it for business or maybe others are just really private and would not want their information being spread either way i think it is up to the person on how they will put decentralization to use

Abhishek0.2

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On a more serious note though, those use cases are real and specially useful on totalitarian countries.

Moreover, even in today's most free countries there still is money debasement and control over what people can buy.

Bitcoin enforces absolute scarcity, something unprecedented.

Topic: Decentralization things are awesome but in some country (Read 85 times)