Row 76410
Content Data
This page contains data entry 76410 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.
Tell me you are financially privileged without saying you are financially privileged.
To give you a few things to think about...
1- Money evolves. It doesn't become a perfect currency overnight. It starts as a Store of Value, then when that achieves full adoption, it moves to Medium of Exchange because people want it and have it to spend, then it can be come the Unit of Account.
SoV -> MoE -> UoA
So the question is, when do you think the best time to start owning a new currency is? Because the early adopters in the SoV phase get the most appreciation in their asset.
2- Censorship resistance. Even if it didn't appreciate in value, Bitcoin can't be stopped. That's the entire reason it exists. This is why it always gets the illegal transaction narrative. But it can do so much more good than evil. There are billions in the world under authoritarian regimes that get their money confiscated or censored all the time. Women can't have bank accounts, gay people are labeled criminals and their money is taken away, and some people can't leave with their life savings and are forced to flee with nothing but the clothes they wear. Hell, even in the West, legal businesses can't bank using traditional systems because they are censored, marijuana, gambling, and adult industries, to name a few. Protesters were censored in Candna, and their bank accounts were shut down. Wiki leaks couldnt accept funding with credit cards. The list goes on. All these people are just trying to live their life and are getting shut down. Those people can always spend Bitcoin. Maybe not sell for fiat, but if someone accepts bitcoin, tick tock next block.
There are huge campaigns now to turn fiat money into a CBDC. A Central Bank Digital Currency. They tout it as an upgrade and a feature that they can set expiry dates, block payments to undesirable things like porn or fast food, and even analyze your spending habits as a carbon output tracker and not let you do specific things because you used too much gas. The end result of that is the rich and political powers would still get to fly in their private jets, while plebs can't fill up their cars but twice a week.
3- Fees. Mastercard and Visa take 2 to 7 % in credit card fees. Wire transfers to other countries can be 5 to 30%. And sometimes that money is "lost" or confiscated. Bitcoin on chain, you can send 5 or 5 billion dollars for the same price. On Lightning, you can send small amounts virtually free. Stop paying the middle man when the middle man isn't needed.
| Field | Value |
|---|---|
| text | Tell me you are financially privileged without saying you are financially privileged. To give you a few things to think about... 1- Money evolves. It doesn't become a perfect currency overnight. It starts as a Store of Value, then when that achieves full adoption, it moves to Medium of Exchange because people want it and have it to spend, then it can be come the Unit of Account. SoV -> MoE -> UoA So the question is, when do you think the best time to start owning a new currency is? Because … |
| label | r/bitcoin |
| dataType | comment |
| communityName | r/Bitcoin |
| datetime | 2024-05-24 |
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Raw Record
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"text": "Tell me you are financially privileged without saying you are financially privileged.\n\nTo give you a few things to think about...\n\n1- Money evolves. It doesn't become a perfect currency overnight. It starts as a Store of Value, then when that achieves full adoption, it moves to Medium of Exchange because people want it and have it to spend, then it can be come the Unit of Account. \n\nSoV -> MoE -> UoA\n\nSo the question is, when do you think the best time to start owning a new currency is? Because the early adopters in the SoV phase get the most appreciation in their asset. \n\n2- Censorship resistance. Even if it didn't appreciate in value, Bitcoin can't be stopped. That's the entire reason it exists. This is why it always gets the illegal transaction narrative. But it can do so much more good than evil. There are billions in the world under authoritarian regimes that get their money confiscated or censored all the time. Women can't have bank accounts, gay people are labeled criminals and their money is taken away, and some people can't leave with their life savings and are forced to flee with nothing but the clothes they wear. Hell, even in the West, legal businesses can't bank using traditional systems because they are censored, marijuana, gambling, and adult industries, to name a few. Protesters were censored in Candna, and their bank accounts were shut down. Wiki leaks couldnt accept funding with credit cards. The list goes on. All these people are just trying to live their life and are getting shut down. Those people can always spend Bitcoin. Maybe not sell for fiat, but if someone accepts bitcoin, tick tock next block. \n\nThere are huge campaigns now to turn fiat money into a CBDC. A Central Bank Digital Currency. They tout it as an upgrade and a feature that they can set expiry dates, block payments to undesirable things like porn or fast food, and even analyze your spending habits as a carbon output tracker and not let you do specific things because you used too much gas. The end result of that is the rich and political powers would still get to fly in their private jets, while plebs can't fill up their cars but twice a week. \n\n3- Fees. Mastercard and Visa take 2 to 7 % in credit card fees. Wire transfers to other countries can be 5 to 30%. And sometimes that money is \"lost\" or confiscated. Bitcoin on chain, you can send 5 or 5 billion dollars for the same price. On Lightning, you can send small amounts virtually free. Stop paying the middle man when the middle man isn't needed.",
"label": "r/bitcoin",
"dataType": "comment",
"communityName": "r/Bitcoin",
"datetime": "2024-05-24",
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}
Entry Information
- Entry ID: 76410
- Repository: Axioma AXP
- Dataset: arrmlet/reddit_dataset_36
- Total Entries: 100,000