@SunMcNukes @freepatriot sure, I understand how it works and have been in it long term, but again if someone at some point can't convert it, then it's worthless. You and I could trade slips of paper back and forth and claim they are worth millions, but if we can never convert it to anything else, it's effectively worthless and still only slips of paper...

@UnpopularOpinion @freepatriot the fiat parity conundrum holds people back and this is how exchanges ruined crypto by playing casino and burying the initial concept of a medium of exchange for goods an services.
As I said before, people help people regardless the tools.

@SunMcNukes @freepatriot when shit goes sideways who will buy my slips of paper? I have been in crypto long term, but for speculation only. Gold has intrinsic value, but was made illegal to buy sell hold from 1933 to 1974. Gov can shut off OR make coins illegal too. You do you bro, but getting self sufficient out on your own is way more important than slips of paper for what is coming...

@UnpopularOpinion @freepatriot the government made drugs illegal. Are the streets free of drugs? Exactly, the Market provides.
And don't worry, I'm also prepared for collapse and considered many scenarios including marauding and raids. Homesteading isn't entirely safe either as the government can Waco you any other day.

@UnpopularOpinion @SunMcNukes @freepatriot People still bought/sold, and held gold during those years.

And no, they can’t just "shut it off". Try again.

@pokkst @freepatriot @UnpopularOpinion @SunMcNukes

I am becoming more and more convinced that the internet couldn't be invented today. No way would the government allow a new technology that allows anyone to publish information without government oversight. How dangerous it would be!

Cryptocurrency is speech.

@SunMcNukes @freepatriot @UnpopularOpinion Centralized exchanges SHOULD be removed. As you point out and many people have have pointed out, centralized exchanges are the most obvious chokepoint in a cryptocurrency economy. They WILL be attacked/shutdown so don't rely on them and build alternatives now.

Decentralized exchanges like Bisq and in person exchanges where such services are required, and avoiding conversion to government fiat wherever possible (use income in crypto to pay for expenses in crypto).

@SunMcNukes @UnpopularOpinion @freepatriot The bill referenced in the OP levies requirements on centralized exchanges and not individual users, in large part because large traditionally-structured companies are what government is used to working with, but also because if they levied it on individuals, the compliance rate would be low single percents, and even lower for privacy-oriented coins because they have built-in plausible deniability and don't actively snitch to the government on you.

@teknomunk @freepatriot @SunMcNukes you still need to convert it at some point or it's worthless, we can trade slips of paper and say they are worth millions, but unless we can convert it or convince someone it's worth something, it's worthless. The gov can shut it down at any time, everything online goes thru their data centers, even if you had a magic coin, they will just deem you a terrorist and patriot act will crush you... Get out in the sticks and become self sufficient and prepare

@teknomunk @freepatriot @SunMcNukes without conversion by someone at some point it's worthless. You and I could trade slips of paper we claim are worth millions, but if we can't convert to something else or convince someone else our slips of paper are worth something, they are worthless. The gov can shut it all down at any time, either the company, the servers, some chink in their armour, OR just make it illegal and claim you are a terrorist. Get out in the sticks and become self sufficient

@UnpopularOpinion @freepatriot @SunMcNukes

This old canard? (Something only has value because you can exchange it for government-approved paper/coin)

A currency has value because it can be exchanged for goods and services directly. That's it. People are more willing to exchange goods and services for crypto or your IOU papers if they expect to be able to exchange it later for goods or services. "Goods" includes other currencies like government fiats.

Government fiat gets value by being exchangable for the service of having the government not throw you in prison for tax evasion, to post bond, pay court fees and a number of demands backed by threats of violance.

This is also why you correctly consider those millions of scraps of paper as worthless: you know that nobody would accept them in exchange for something of value.

Bitcoin was completely worthless up to the moment that a pizza delivery was paid for in Bitcoin. I can, right now, order gold and silver coins with Bitcoin (https://www.jmbullion.com/about/payments/, 3% discount, limit $50k).

Everyone makes these types of determinations, but almost everyone does it subconciously.

@teknomunk @UnpopularOpinion @freepatriot @SunMcNukes Buying silver for crypto from those lads when BTC was hitting ATHs felt chad af. Now convince them to do Monero.

@demitasse @freepatriot @SunMcNukes I'm out in the sticks and self sufficient, I will be fine thanks...