So what exactly do the ideologyfaggots whining about "muh evil bankers" think is going to change even if crypto...

So what exactly do the ideologyfaggots whining about "muh evil bankers" think is going to change even if crypto replaces FIAT completely?
You still need a loan to buy a house
You still need to keep your money somewhere
You still need a credit card service so you can make small purchases without waiting 5 minutes for confirmation

>financial system is puppeteered by a government entity and forced on citizens
>financial system is whatever the majority of people agree upon
Which do you choose?

>be retarded government in crisis
>prevent citizens from withdrawing cash

No more Fractional reserve nigger. How dumb are you,

its money that is completely invisible to govs and can be moved 24/7 very fast and secure all around the globe. clearly you can see that this is a fucking gamebreaker.

Read the post again dummy. I already know about "muh ebil bankers". I asked you what specifically is going to change.
You don't have to tell me everything, just something.

Fractional reserves has nothing to do with what currency is used. How dumb are you? You can even do it yourself with physical gold.

Not really. I paid a chinese guy with paypal just a few days ago

No retarded government = no retarded bankers

The only way the "evil bankers" are able to sustain their business is through violent monopolies on minting currency granted by the government and with government subsidizing them even when they make retarded decisions (subsidies which the government gathers via force).

You can't print bitcoin out of thin air (inflate. Qe) like you can with fiat you retarded Mongoloid

see >print money
That's not what fractional reserve is retard.
>Fractional reserves has nothing to do with what currency is used. You can even do it yourself with physical gold.

To bad if crypto becomes the currency of choice governments will just create their own coin that's 100% controlled by them.

So congratulations, now not only does the government have the ability to see literally every singleffort transaction you've ever made but they also will probably have the power to take all your money by force with a few simple clicks.

Why would anyone use government issued crypto? Centralized crypto seems kinda pointless.

If you wonder what's gonna happen when crypto becomes the dominant form of currency, I'd say we can expect a more free market and a currency whose inflation isn't manipulated as to encourage people to perpetually spend. Saving money would be more viable.

It would also bring decentralization within healthcare and school systems which would be great.

>get a loan in BTC
>keep it in your wallet. more secure than any bank holding your $
>Eth block time is 15 secs, you only need 1 confirmation for small value items

we live in a world where jewish bankers literally create money out of thin air, it's the biggest scam known to man, i think if more people understood the magnitude of what is happening maybe something would change. but people are dumb and the truth is crypto will never 'replace' fiat. (((they))) would shut it down long before that

>a currency whose inflation isn't manipulated as to encourage people to perpetually spend. Saving money would be more viable.
If you think deflation is some magic thing that will make everyone rich, then you're just uneducated. For example japan has had deflation for almost 30 years and it's one of the major problems in that country. Feel free to read about it
>a more free market
>decentralization within healthcare and school systems which would be great.
Do you literally not know what the word "specific" means?

>more secure than any bank holding your $
>break a window into anons house instead of a steel bank vault
>find his private key or just take his computer
>get ALL his money and vanish without a trace
yeah, no.

>jewish bankers literally create money out of thin air
see

Deflation = People inclined to save
Lots of people saving = Cheap loans
Cheap loans = Good time to expand for businesses
Expanding businesses = Lots of jobs and goods

Thinking Japan is doing bad because they have deflation is fallacious reasoning, correlation doesn't equal causation. I doubt you'd be able to explain Japan's situation even if you tried.

>Do you literally not know what the word "specific" means?
The decentralization would occur since it is very difficult to regulate crypto. Government would have to spend copious amounts of tax money on minimal return and people would start to wonder why government would regulate it in the first place. Of course there is no answer as to why they would regulate other than them wanting power of it's citizens, so it would be a very good debate to hold as it would lead to decentralization.

>this guy seriously thinks his armchair thought experiment beats empirical data
lol
>correlation doesn't equal causation
of course, which is why you should actually read about japan to learn about the causal link. Or just read economic literature on deflation in general. Japan is just an example

>it is very difficult to regulate crypto
>can literally see and trace every transaction you've ever made
lol
>didn't even mention healthcare and schools
lol

>which is why you should actually read about japan
If you understand it so well, please explain where I'm wrong about deflation. "Read a book" is the archetypical brainlet arguement for when they're trying to save face.

>can literally see and trace every transaction you've ever made
What is Monero?

>didn't even mention healthcare and schools
Crypto will ignite the decentralization debate, which will lead to less government influence overall. As a result, private schools and healthcare options can grow in the old and inefficent system's place.

You don't seem to know much about how crypto works, or at least are ignoring the main points to attempt to further your argument.

>it isn't difficult to regulate crypto because you can see past transactions
Wallets can be generated in an instant with no personal information input. There are also several anonymous currencies in the works

Serious question, what are you gaining out of arguing so "passionately" (read: being a condescending prick) in favor of fiat?

>If you understand it so well
I don't, but I'm at least not so stupid that I think my own opinions are more valid than actual science.
>please explain where I'm wrong about deflation.
Well for one your so fucking retarded that you think companies should expand even though they're selling less because people are saving more.
>What is Monero?
not magic that solves everything. Otherwise it would be the main coin.
>Crypto will ignite the decentralization debate [blahblahblah]
again: Do you literally not know what the word "specific" means?

>Take the computer
>Don't know the fucking password
>Have to commit a worse felony now, assaulting them for the key
>They give you some key that might or might not be their main account
>You have no way of ever knowing
BTFO

>You still need a loan to buy a house
i have enough money to not need one
>You still need to keep your money somewhere
physically encrypted backups and specialized hardware wallets
>You still need a credit card service so you can make small purchases without waiting 5 minutes for confirmation
bitcoin to visa card bridges, and in the future second layer networks that operate in the same way but without a conversion to fiat

of course, if youre poor after the crypo revolution, it wont make any difference to you anyway

No you retard. Why the fuck why you use a government issued coin. WE ALREADY HAVE THAT DIPSHIT.

It's called a fucking bank with electronic cash. FEEL FREE TO USE IT.

Nobody would buy that shit since it does fucking nothing and solves fucking nothing. Are you mentally challenged?

Also
>What is Monero hur dur hur

BTC is great for preserving wealth/ electronic gold but terrible as a currency. BTC will be worth 100k and be a huge store of value while Monero does all transactions between citizens anonymously.

The future is now!

monero scales worse than bitcoin does, so we'll need a totally new scalable private currency if thats the future you want.

Can not be hacked?

>in an instant with no personal information input
So can many FIAT payment systems. Except with crypto you can trace every single transaction from a known account (like the one you pay your rent with) until you reach the brand new wallet you created.
>anonymous currencies in the works
that's been said for literally a decade. Cool if it happens, but it's getting tiresome now.
>what are you gaining out of arguing
I'm trying to understand if there's anything more than "muh ebil banks" behind the ideologists.

>Take the computer
>Don't know the fucking password
>format computer and sell it on ebay
>that guy still lost ALL his money forever
>safer than a bank account
lol

No we do not. Unlike BTC Monero has hardforked a shitload of times. But nobody ever talks about it since it always goes smooth as fuck.

Granted Monero does have an issue with the size of it's block chain but it is also ASIC resistant. And I strongly believe pruning and other solutions will come to find it's way eventually.

>i have enough money to not need one
lots of people have that with fiat too retard.
>physically encrypted backups and specialized hardware wallets
see >bitcoin to visa card bridges
so yeah, nothing changes in other words. It just says BTC instead of USD.

Only BTC can be traced you brainlet. Shit like Monero is NOT traceable. Fuck off with your halfassed logic.

see middle

>Why the fuck would you format it?

Also you can write the fucking seed down somewhere, put clues in your house for the seed or even memorize it. BAM issue solved.

Why do you have such shit arguments?

>You can't print bitcoin out of thin air (inflate. Qe) like you can with fiat you retarded Mongoloid

but thats precisely what bitcoin is. what do you think bitcoin mining is

Veeky Forums you have a problem

>Monero is not magic hur dur
What the fuck does that even mean? That's not the point. BTC is so popular because of the network effect. And Monero has climbed its way up all the way from 5 cents has PHD people working behind it and does great job and trying to find scaling issues.

What the fuck is your problem? You have been blown out multiple times but you keep ranting how it's still bad somehow like some triggered autist.

>Why the fuck would you format it?
Because you stole it and you're gonna resell it?
>write the fucking seed down somewhere
Back to square one retard. Now the key to ALL your money is in your shitty house instead of a bankvault
>memorize it
Yes. People will be comfortable with their and their children entire economic future not depending on them forgetting or being in a car accident

Read the OP instead of going off topic retard. For example how does monero magically mean you don't need to loan money for your house?

AGAIN NO. Do you do any fucking research at all you dumb piece of shit? Bitcoin does inflate yes, but has a capped max limit. With fiat it goes exponentially with BTC logarithmically.

>Fiat let's just add 2% more each year XD
1.02^20 => 50 more fucking money in just 20 years

>BTC already reached 90% of its total supply and the amount mined will continue to go down

>need a credit card service so you can make small purchases
wut

Yes because a burgler will totally know where a slip of paper is or even what the fuck means. You could even split up the paper. You could also hide it in a fucking book on page X and just remeber that phrase. You can not just hide 1,00,000$ in cash between a fucking book.

Because that shit has nothing to do with crypto but he pretends like it does. OY VEY you need to borrow tmif you have to little xDDDD.

No shit sherlock. That has nothing to with BTC so why does he have to bring it up ?

Loans still exist without fractional reserve banking. The value of currency just won't be based on debt handed out by the lowest bank in the pyramid scheme that is fractional reserve banking. Crypto offers an oppourtunity to get away from hyperinflation of currency and significant power being held by a few shekelgrabbers at the top.

I don't understand a great deal about this yet. Maybe an autist here can verify my belief that crypto is basically a labour backed currency but in digital form.

>a burgler will totally know where a slip of paper is or even what the fuck means
Absolutely when crypto is the standard.
>split up the paper blahblahbla
So yeah. You're literally going to trust your entire wealth to a piece of paper that can get lost, stolen, burnt down, blurred out, forgoten and so on. And of course if you die the money is lost forever. Your kids get nothing. Of course you're a neckbeard that will never have kids, but we're talking crypto acceptance by real people.

>nothing to do with crypto
I made the thread retard. I'm pretty sure I know what the OP meant. Retards like you talk about crypto as if it's gonna make everyone rich and make the need for banks magically vanish

so what? use your crypto as collateral for a loan, or property, like you do now. why would you expect this to change?

>encrypted
and if you dont want to encrypt your own keys, im sure there will be companies like coinbase willing to take the risk of holding your coins for you

are you seriously retarded enough to believe that crypto is going to magically remove the need for money or the need for security?

you sure seem like one of those "ideologyfaggots" that wants so desperately to live in some communist utopia.

>Loans still exist without fractional reserve banking
1.Yeah, it's called zero reserve banking and it's retarded.
2. Without banks, who exactly is going to give you 350,000$ in a loan do you persume?
>hyperinflation
stop using words you don't know

>why would you expect this to change?
I'm saying it wouldn't retard. Read the OP.
>companies like coinbase willing to take the risk of holding your coins for you
You mean like a bank? Yes, that's what I said.
Work on your reading.

can't tell if people itt are retarded or larping

you seem more idealistic than the people you're trying to argue against, and this whole thread is one giant autistic strawman.

At least I can do more than namecalling

Show me on the doll where Bitcoin hurt you, user. It's okay, we get it. You have Post FOMO Stress Disorder, PFSD. Understandable. Just calm down.

>retard
>retard
>retard

nice arguments lmao

You understand that banks wouldn't just disappear, right? Like the buildings themselves? Bank vaults would still exist and could be retrofitted for the purpose of storing secure copies of coldwallets that people would have their savings sent to. Nobody can hack their private key or steal it any easier than they can steal from a bank.

There's arguments around them retard. So more than namecalling.

So you mean some form of organization would own a vault where people can pay a small fee to secure their money. WHAT A NOVEL IDEA, WHAT SHOULD WE CALL IT?

You will still need a loan to buy a house... bahahahahahahahahahahaha retard

lol he thinks by bankers me mean retail banks and not the federal reserve.