this post was submitted on 20 Aug 2023
1696 points (97.1% liked)
Memes
45190 readers
1879 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Everyone who believed this was true lost a lot of money betting on Bitcoin Cash.
Oh and show me people who bought Bitcoin in early 2021 that haven't lost cash please.
Oh sorry if I don't keep up to date to the daily movement of Bitcoin... I mean, I wouldn't have because it's a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it...
Don't apologize, just use your time to learn instead of wasting it and everyone else's by talking about things you don't care to learn about first.
Oh I know how the shit works, I just don't put blindfolds preventing me from seeing how flawed it is 🙂
I urge you to copy and paste this conversation into whatever is the best LLM you have access to and then ask it to point out any factual inaccuracies it can(of both you and everyone else in this thread). Then, go ahead and research any of the claims that it makes on your own. If you are curious to possibly learn something new today, then this is a great route to take. If you honesty believe what you are saying then this will be very enlightening. If you are actually just bitter about some bad choices you made and you actually don't believe what you are saying then of course don't waste any more of your time doing anything like this. Goodbye.
Bad choices I made? Like making hundreds of thousands of USD by exploiting the flaws in crypto? Yeah... Bad choices indeed...
Well, if it's a bad peer-to-peer electronic cash system and it's not a store of value, what's the point then? 🙂
Cherry picking, look at a log chart
So is saying that everyone who bought Bitcoin cash lost money considering today isn't all time low.
It's not as if I was here to defend Bitcoin cash, I'm here to point out that Bitcoin and lighting network is flawed though.
split date != ATH
The rhetoric you're repeating is straight out of that scam. And you linked to their subreddit.
You're the only one who talked about split date and if we go by that argument, whenever there's a hard fork the people who were there before will never be losing because they suddenly own both without having purchased one of them.
At least Bitcoin cash stayed true to the goal of Bitcoin. A peer-to-peer electronic cash system.
That was also untrue. Electronic cash doesn't imply no/low transaction fees. Basically everything they told you was a lie.
Show me where in the whitepaper does it mentions storing value, please.
No/low transaction fees and ease of transaction is the main point of cash vs barter, Bitcoin abandoned that, now you have to go through the trouble of using level 2 to have small fees and quick transactions, what's the point of Bitcoin then?
No. I've had this exact argument enough times that it was a relief to finally bet on it.
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. **The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions**, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services.Right in the introduction to the whitepaper.
Maybe you should start with reading it so you would see where things went wrong.
Lol I think you upset a bunch of BTC fans just now 🤣
I'm used to it 😁