10 sats \ 0 replies \ @_b_o_n_e_s_ 21 Mar \ on: New Website with ASCII Animation: ˭̡̞(◞⁎˃ᆺ˂)◞₎₎=͟͟͞͞˳˚॰°ₒ৹๐ art
B-)
hey man, if youre not feeling more optimistic after discovering bitcoin and cutting back on social media then maybe you've got a tonne of other stuff going on. if so, take care brother, wishing you only the best 🙏
10 sats \ 0 replies \ @_b_o_n_e_s_ 18 Mar \ parent \ on: Multisig to Musig2 Migration Guide? bitcoin
thank you for explaining sir.
that's a lot of words.... what's the TL;DR
bitcoin is just money, you either you use it, or you don't.
arguing with bitcoiners is his marketing schtick for boomers who don't get bitcoin but get sound money. can't stand the guy. he's not an idiot, I think he knows exactly what bitcoin is by now
more nuanced and maybe actionable advice is probably something like:
- get informed about what entropy from dice rolls is for,
- don't trust just one software implementation with life changing wealth, and
- learn how to add your own entropy in a safe way to avoid relying just on the software
that's how I'd rewrite the title/post if I wasn't trying to pitch a hardware wallet.
one advantage of rolling dice is you do it in front of your eyes. you see and experience the entropy yourself. so you can sleep a bit sounder knowing you're not wholly trusting software that you don't exactly know 100% inside out
Fiat money is a type of currency that is not backed by a commodity, such as gold or silver. It is typically designated by the issuing government to be legal tender, and is authorized by government regulation. wikipedia
Ecash does not come into existence or is issued through government decree, so its not digital fiat.
Also, in theory at least, ecash is backed by bitcoin.
I'm not trying to change your mind. I have issues with ecash as well. I just think when arguing online, the right words are important.
bitcoin is money, so there shouldn't be. it should be the same thing as business A getting paid some dollars then spending them at business B.
but that doesn't stop governments who do not understand bitcoin from coming up with dumb rules and regulations to try and prevent or deter that like it sounds has happened in Bali. I didn't know that and it sucks to hear
so guess im saying there may be some additional requirements but I don't know of them. I think tax would be main thing as its money. ATO has some info on its website, I think its mostly from POV that bitcoin is an asset so may not be too helpful.
I think Australian tax rules are that if you are acquiring and spending in short time frame, using it as money, then there's carveouts for any small modest cap gain or loss. Or maybe its small amounts. Not sure but would be worth investigating.
governments can't stop bitcoin though, over time more and more people will see that it's real money, which we havent had in a long time, and will opt in to its network. great stuff getting more people aware!
it sounds as though you've received tax advice so with legal requirements, what do you mean, is there something specific you have in mind? do you mean for the community group, or for yourself operating a business that accepts bitcoin? sorry, I'm not sure from your post.
the one thing i can see is that it looks like you're using a custodial wallet, so I guess you'd want to read the Terms of Service carefully and make sure you understand them, and can abide by them so you don't risk your funds being confiscated.
big props to you for onboarding your local community! ✌
If you have all the data on an SME's Sales (Square) in theory you could gauge risk of offering small amounts of credit. QuickBooks even spruiks lending in its platform.
Afterpay makes more sense than Tidal imho
I have known two gambling addicts who have ruined their life. The one addicted to slot machines at least could own up to it, and was able to be honest about their addiction with their family, and recognise it was a problem that had ruined their life and severely impacted their family. The roulette player is still convinced they're one small tweak away from having the perfect system. I wish you all the best luck.
right, that makes total sense. thank you.
I think I agree with you about needing to make risks as apparent as possible. I don't like the risk of their supply not being auditable.
I'm also mad keen to see what happens with mutiny, can't wait.
thank you sir. I took from other comment that you were against all these current scaling options, particularly fedimints, is that the case?
I'm interested in fedimints to see what they offer. But I have also been reading about statechains. I'm not technical enough to really get all of them, I just want to play with them all and see.
I'm really looking forward to what gets built out over next decade or so ☺