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submitted by /u/zalmee [link] [comments] |
Monday, 3 April 2023
"The fixation with regulating (...) Bitcoin is driven by the Biden administration’s centralized (...) approach to government which views innovations beyond its ability to control with contempt. (This) isn’t dissimilar to (...) the Chinese Communist Party which (...) banned (digital assets) in 2021."
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"The decentralized nature of digital assets can only be viewed as a threat to those who favor expanding the size and role of government because digital assets act as free-market safeguards against abuses within centralized monetary systems. For example, the Biden administration cranked government currency printing presses into overdrive, enabling more government spending and sending America’s economy tumbling into an era of hyper-inflation. That scenario would be much less possible under a transparent, decentralized system. The situation isn’t too dissimilar to that of the Chinese Communist Party which, having concluded it couldn’t control digital assets outright, banned them in 2021. Another key differentiating feature in many digital assets is that they’re resistant to "financial censorship," a term that refers to the suppression of certain spending, canceling transactions or freezing monetary assets. Typically, financial censorship would be done by the government, but increasingly, we’re seeing this done by banks and payment card companies at the direction of government regulators."
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Ignorant question?
I am using a Ledger wallet.
What happens if Ledger "goes down" , dissapears, or for whatever reason becomes controlled by some entity with nefarious purposes?
Could I lose access to my coins?
I always read everywhere people should keep they keys, and I agree that is good advice. However... Can it happen that cold wallet companies are taken over, or go bankrupt, etc? What happens in that case?
[link] [comments]
Sunday, 2 April 2023
Something important to anyone new
The fear that Bitcoin will eventually become almost impossible to get. I remember the golden days mining casually some bitcoin and being able to use it. That already starts to fade away it’s almost impossible to compete nowadays with the huge miners out there.
Now think of an unlikely scenario of a hyper inflation. Who will sell their bitcoin if everyone only wants to use it? And nobody wants to sell for a high inflating currency?
This is a constant fear I’m living in for almost a decade now since my first Bitcoin. I’m scared of selling. I’m scared that I wake up one day and it will be impossible to get Bitcoins because the demand sky rocketed overnight.
Once you have a larger amount of fiat you realize how easy it is to make fiat with fiat but how hard it is to make bitcoin with bitcoin. The difference between soft & hard money.
We are still very early. I don’t know how long it takes it might be decades but you have already seen what a little hype can do to BTC value in USD in 2020-2021. Inflation doesn’t go away. Things don’t get cheaper - only more expensive. That’s how fiat works.
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