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20 sats \ 3 replies \ @harrr 17 Nov 2023
Short it
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0 sats \ 2 replies \ @cashflow OP 17 Nov 2023
I think I know what you mean. But my point is to point out that people will lose all of their deposits.
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10 sats \ 1 reply \ @okpj 17 Nov 2023
“Deposits”
Clearly this person is well informed about Bitcoin!
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
Yes, I am well informed.
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194 sats \ 0 replies \ @ek 17 Nov 2023
Can't change your mind if we don't know why you think it's going to fail
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152 sats \ 15 replies \ @td 17 Nov 2023
How do you think it will fail?
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0 sats \ 14 replies \ @cashflow OP 17 Nov 2023
Advanced and unknown security threats, a flaw in the Bitcoin protocol / software, has compromised functionality; it has jeopardized the integrity of the Bitcoin network and will resulting in a substantial loss of trust.
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10 sats \ 1 reply \ @nerd2ninja 17 Nov 2023
You mean another one?
https://bitcoinuptime.org/
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
Yes and No!
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0 sats \ 11 replies \ @okpj 17 Nov 2023
I see CSW has joined SN…
So what’s this flaw? Or are you a psychic
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
No I'm not.
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0 sats \ 9 replies \ @td 17 Nov 2023
Weirdly defensive tone.
I think the author is acknowledging that it is impossible to say with certainty that there will be no further flaws discovered on Bitcoin.
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
No. I know that the statement Bitcoin is compromised cannot be placed in the future. I'm saying the opposite. Am I understandable?
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0 sats \ 7 replies \ @okpj 17 Nov 2023 freebie
Of course there will be flaws discovered in Bitcoin. That statement is a far cry from “Bitcoin will fail due to unknown and advanced security threats” and “people will lose all of their deposits”.
“But Bitcoin will fail, that’s a fact” doesn’t sound like acknowledging the possibility of flaws in Bitcoin to me.
0 sats \ 1 reply \ @0xbitcoiner 17 Nov 2023
It will fail if the internet goes down for some reason, and even then there are already some projects to transmit data via radio
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
Yes, HAM, LoRaWAN, Mesh. Many will not have this opportunity. A drastic decline in user participation and mining activities would compromise the security and functionality of the Bitcoin network. But that's not the problem.
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0 sats \ 6 replies \ @cashflow OP 17 Nov 2023
I would like to strongly caution against investing large amounts in Bitcoin.
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0 sats \ 5 replies \ @OneOneSeven 17 Nov 2023
I'm not investing, I'm exchanging a weak currency for a strong one.
What do you do with your federal reserve notes?
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0 sats \ 4 replies \ @cashflow OP 17 Nov 2023
Is that so and is bitcoin strong? Is Lightning strong? I think you're asking (only rhetorically, of course) for an alternative suggestion. The basis for this could be the assumption that if I warn against investing in Bitcoin, then I must be against Bitcoin and therefore I should suggest an alternative. Good. I'm not against Bitcoin, I appreciate the developers' performance and I respect them a lot. I like the community, I like the Lightning wallets, Nostr. A great combination, in my opinion. But Bitcoin will fail, that's a fact. If you ask me about an alternative, i.e. how I invest my federal reserve notes, then I would also like to answer that question. I invest in people, in companies. That doesn't mean I buy stocks. I build companies or buy them. To be more precise, I don't do it myself, others do it for me. It's important to me that the money benefits people. Fiat and Bitcoin are dead capital. Do you know what Jesus did to the tax collector, or what the tax collector did when he celebrated with Jesus? Of course I also hold some cash. I hold equal amounts of dollars, Swiss francs and euros. Not much, but something for life and security. But above all, I invest in travel, experiences and so on.
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0 sats \ 2 replies \ @OneOneSeven 17 Nov 2023
No, tell me
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0 sats \ 1 reply \ @cashflow OP 17 Nov 2023
Sure, here's a summary of Zacchaeus' story. The story of Zacchaeus is found in the New Testament of the Bible, in the Gospel of Luke, Chapter 19, verses 1-10.
Zacchaeus, a wealthy tax collector, wanted to see Jesus as he passed through Jericho. Since he was small, he climbed a sycamore-fig tree. When Jesus reached the tree, he told Zacchaeus to come down because he would be a guest in his house. This surprised and angered the crowd, as tax collectors were often unpopular. However, Zacchaeus promised to give half of his possessions to the poor and to pay back four times as much to anyone he had defrauded.
Jesus acknowledged Zacchaeus' repentance and explained that salvation had come to his house that day, emphasizing that the Son of Man had come to seek and save the lost. This story explores the themes of repentance, generosity, and the transformative power of encountering Jesus.
I think this was not just about repentance and reparation, but also about finding and harnessing dead, i.e. useless, capital and converting it into capital for the benefit of people.
Does this help you so far?
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210 sats \ 0 replies \ @OneOneSeven 17 Nov 2023
Nope, your use of "dead capital" makes no sense.
If bitcoin fails, we're all fucked anyways, so cheers, good luck with your fiat.
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0 sats \ 0 replies \ @okpj 17 Nov 2023 freebie
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0 sats \ 1 reply \ @quark 17 Nov 2023
Yes it will fail to save fiat collapse.
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0 sats \ 0 replies \ @cashflow OP 17 Nov 2023
I am not in favor of the FIAT system.
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