uh-quan
Joined 7 years ago
Joined 7 years ago
As a parent myself (and, I hope, a good one), I have found it very difficult to effectively monitor and limit my children's ability to access these things. And I have more facility with technology than the average parent. It's a complex and frustrating problem and the stakes are high.
First, if you are concerned about things like confiscation, then you take the recommended security steps such as running your own node. At that point confiscation is indeed difficult (not impossible) and blocking access is essentially impossible. A government would have to prevent you and anyone who could act on your behalf from having any access to the Internet in order to stop the transaction being propagated on the network.
As for savings: I stand by my assertion. In its early years, yes, bitcoin is going to be volatile. But as anyone who has held bitcoin for 3+ years knows, it retains and grows value over the course of years exceptionally well. Savings implies a medium- and longer-term horizon — think years, not months — and on that horizon bitcoin has always been a winner.
I think there are more people in this world who care about the harms of inflation and capital controls than you are giving credit to. I care about preserving my wealth from debasement, as do all of the people I happen to know who hold bitcoin. And I suspect I might have a better feel for the "pulse" of bitcoin users than your 99.9% estimate, which (forgive me) strikes me as being detached from reality.
Unless we are working with a weird and strict definition of "tangible," I'd say it's tangible good that is, rightly, valued by many millions of people.
The US government hasn't requested that social media companies do this, but the result is the same.
But if by "escape government control" one means a currency that the government cannot interfere with to censor/stop transactions, or a currency that cannot be debased on the government's whim, the public ledger is exactly why bitcoin can do what it does.
And again, keep in mind we are talking about access to money -- a money that cannot be debased -- for those people living in the poorest and most terribly governed areas of the world, where debasement, hyperinflation, and the utter destruction of savings is commonplace.
Even if they don't get the full benefits of on-chain bitcoin transactions, they will still be light years ahead of where they were relying on failed local currencies. A massive improvement even in the worst case scenario, helping to lift real-world folks out of poverty. This is something to applaud and cheer for, not shake your head at or mock.
No, they don't need to open a channel via the blockchain. They can have an account with a third party, for example.
Notable because he departs from the book opening early on and has to find some brilliant moves to keep himself out of trouble. The breadth and depth of his calculations seem beyond what even strong amateurs consider, more than just choosing better lines to analyze.