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Mastercard makes a deal with Coinbase to let customers buy NFT’s with Mastercards

ebprince the computer nerd
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8 minutes ago, BuckGup said:

This is awesome. I'm always amazed how ignorant people are to new technology. 90% of crypto posts here are just the same few people crying how it's all a scam and back in their day they had "real" paper money. No one cares or is listening. 

Well I mean, if people are replying, SOMEONE has to be listening to all of this.

how are you doing today

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4 minutes ago, BuckGup said:

This is awesome. I'm always amazed how ignorant people are to new technology. 90% of crypto posts here are just the same few people crying how it's all a scam and back in their day they had "real" paper money. No one cares or is listening. 

Has it ever occurred to you that we do understand it and that is why we have a problem with it. Our opposition is not out of ignorance, or just not wanting things to change, but out of understanding of what this represents and the earnest position that implementing such a system would make the world a worse place.

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27 minutes ago, BuckGup said:

This is awesome. I'm always amazed how ignorant people are to new technology. 90% of crypto posts here are just the same few people crying how it's all a scam and back in their day they had "real" paper money. No one cares or is listening. 

This is awesome. I’m always amazed to see how willing people are to throw their  life savings at some pump and dump scheme. 90% of crypto posts here are just the same few people crying about how it’s foolproof and in the blockchain. No one cares or is listening.

 

You see how flawed this argument is, right?

 

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54 minutes ago, BuckGup said:

This is awesome. I'm always amazed how ignorant people are to new technology. 90% of crypto posts here are just the same few people crying how it's all a scam and back in their day they had "real" paper money. No one cares or is listening. 

You have zero idea how fragile the economy is. All it takes is a single high-alt EMP from rogue nation or CME (Carrington Event) to bring down an entire nation built on a cashless system. That should frighten you. Overnight, everything would grind to a halt and that can of tuna would be more valuable as currency than food.

 

Blockchain has its uses like any other tool. But to depend on it, that's scary as hell IMHO! Leaves any system in a fragile state.

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13 hours ago, aisle9 said:

NFTs don't have to be stupid jpgs though. An NFT's purpose is to establish ownership. That's it. Look at the bigger picture, outside of the stupid monkey cartoons, at the possibilities opened up. The real potential of NFTs is in decentralized verification of ownership of real world assets. A well-implemented universal NFT platform could all but eliminate fraud and lots of government bureaucracy. Things like:

  • Transferring ownership of a car: instead of standing in line at the DMV and handing over the title hoping the other guy's check clears (or handing over a check and hoping the car's still there when it clears), an immediate blockchain transaction transfers the funds, and after they're transferred, the NFT that contains ownership information for the car transfers to the new owner. Vehicle registration information transfers with it automatically, so there's no going to the DMV. The title's in your name and the car is registered to you, and your new plate (if needed) is in the mail already.
  • Home ownership: instead of sitting around a boardroom for three hours to finish the deal, transfer an NFT.
  • Original work (art or otherwise): one NFT that establishes ownership of the piece and can be transferred at will, but has stipulations attached to it. Maybe the creator's name is attached to that NFT forever, and every time it changes hands, they get a piece. The NFT can have copyright, trademark or patent data appended to it so there's never any question about who legally owns what. It's a public record on the blockchain, there for all to see, and it can't be forged or fudged the way an ink-and-paper contract can.

I think there's also a strong use case for NFTs to be paired with ZK proofs to create arguably the most privacy-centric finance model ever, but that's for a different, much longer post. NFTs are in the fad phase right now, where people are buying useless ones at inflated prices because it's "cool" or to be able to say they own one. That will die down, and when NFTs crash as hard as all of crypto has over the last 48 hours (RIP Dogelon Mars, gone and soon forgotten), the NFTs that survive on the back end are going to be those that have very real use cases outside of showing off a picture of a stupid ape.

yes please make me have all of my valueable in a wallet where someone that knows my adress could just drops and NFT into that would steal all my assets if I ever clicked on it. Sounds like a great plan.

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13 hours ago, aisle9 said:

 

  • Transferring ownership of a car: instead of standing in line at the DMV and handing over the title hoping the other guy's check clears (or handing over a check and hoping the car's still there when it clears), an immediate blockchain transaction transfers the funds, and after they're transferred, the NFT that contains ownership information for the car transfers to the new owner. Vehicle registration information transfers with it automatically, so there's no going to the DMV. The title's in your name and the car is registered to you, and your new plate (if needed) is in the mail already.
  • Home ownership: instead of sitting around a boardroom for three hours to finish the deal, transfer an NFT.

Sounds based tbh.

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35 minutes ago, StDragon said:

All it takes is a single high-alt EMP from rogue nation or CME (Carrington Event) to bring down an entire nation built on a cashless system.

To be fair, such event would have devastating consequences even without us using digital currency. The Google outage last year already caused disturbances in many industry that relies on it

 

But yeah, it's not gonna help by going digital in this case

-sigh- feeling like I'm being too negative lately

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7 minutes ago, Moonzy said:

To be fair, such event would have devastating consequences even without us using digital currency. The Google outage last year already caused disturbances in many industry that relies on it

 

But yeah, it's not gonna help by going digital in this case

At least with cash, you can still participate in the local economy through services and farmers market for the essentials. With cash-less, how could two people in the same town function sans a barter system?

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16 hours ago, Moonzy said:

dont believe me? try using HDD only, and 1Mbit internet

There is a difference between using modern programs on a hard drive and programs written when practically all computers used a hard drive. Windows XP is reasonably smooth even on a two decade old laptop while Windows 10 is practically unusable for a good 15 minutes after start up if installed on a HDD. The control panel on a Celeron M is more responsive than the settings app on a R7 4800U.
 

The same goes for websites. Have a look at some simple, javascript free webpages and try open them on old devices. It won’t be as instant as on newer hardware but it isn’t slow by any means. 

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3 hours ago, StDragon said:

At least with cash, you can still participate in the local economy through services and farmers market for the essentials. With cash-less, how could two people in the same town function sans a barter system?

Even if we don't go as far as a major event that disrupts digital currency,  the reality is that banks still operate decades old mainframes with software written in obsolete languages because upgrading the system presents way too many failure risks.  If they can't upgrade the back end of the financial system to a better version of itself for fear of it all falling over how does anyone think that blockchain will be able to replace it? 

Grammar and spelling is not indicative of intelligence/knowledge.  Not having the same opinion does not always mean lack of understanding.  

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5 hours ago, Caroline said:

Mastercard just made it a bit more legal.

Agreed.

NFT's are a scam.

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59 minutes ago, mr moose said:

Even if we don't go as far as a major event that disrupts digital currency,  the reality is that banks still operate decades old mainframes with software written in obsolete languages because upgrading the system presents way too many failure risks.  If they can't upgrade the back end of the financial system to a better version of itself for fear of it all falling over how does anyone think that blockchain will be able to replace it? 

As someone who works in a bank, our main mainframe that everything else has to piggy back off of, has to be accessed through an emulated IBM 3270 terminal. Every single person i've spoken to, no matter how long they have been with the bank has said "When i first started, they said they weren't going to teach me the 3270 system because "it was going to be replaced/grandfathered"" and yet we still have it.

The oldest staff member i can remember off the top of my head that said that has been with the bank for about 25 years.

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1 hour ago, Caroline said:

Every time a mod quotes me I think my comment was deleted.

Lol ... happy to oblige.

 

1 hour ago, Caroline said:

I can see high rank criminals using NFTs as a way to launder blood money through third parties with no one knowing, I mean all the FBI would see is "John Smith spent $100k on a drawing of an ape made by Jane Doe". Could be drug dealers, politicians, CEOs, whatever. Even with Mastercard they'd bounce the money from one account to another and then boom "spend it" on an NFT, perfectly legal, well, at least not illegal as far as the law cares.

yeah, that's unfortunate and it's sad to think Mastercard is going to intentionally make money off this knowing this is going to feed illicit activity. But in court they will claim they were ignorant too the whole thing. 

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11 hours ago, SansVarnic said:

Mastercard is going to intentionally make money off this knowing this is going to feed illicit activity.

Illegal activities are almost definitely happening in NFT, but I'm wondering if it's the majority of transactions or just a small percentage like Bitcoin.

 

11 hours ago, SansVarnic said:

But in court they will claim they were ignorant too the whole thing.

If the transaction were just like any other transactions, how would they know it's fraudulent or illegal? I'm actually curious

-sigh- feeling like I'm being too negative lately

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On 1/23/2022 at 4:07 AM, aisle9 said:

NFTs don't have to be stupid jpgs though. An NFT's purpose is to establish ownership. That's it. Look at the bigger picture, outside of the stupid monkey cartoons, at the possibilities opened up. The real potential of NFTs is in decentralized verification of ownership of real world assets. A well-implemented universal NFT platform could all but eliminate fraud and lots of government bureaucracy. Things like:

It is true that NFT's could have many uses but as far as I know no one has used them for stuff other than stupid monkey JPEG's and the likelihood and chances are it'll take over a decade or even decades before they are even considered for things such as property or vehicle selling so as far as I am concerned in the present and for a good part of the future NFT's serve no other purpose than for wasting energy and money on for photos of monkeys with varying outfits.

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On 1/23/2022 at 11:31 AM, StDragon said:

You have zero idea how fragile the economy is. All it takes is a single high-alt EMP from rogue nation or CME (Carrington Event) to bring down an entire nation built on a cashless system. That should frighten you. Overnight, everything would grind to a halt and that can of tuna would be more valuable as currency than food.

 

Blockchain has its uses like any other tool. But to depend on it, that's scary as hell IMHO! Leaves any system in a fragile state.

Lmao what. The US is already on a fiat based currency where most people don't use physical cash anymore. Also the blockchain is very similar to the existing infrastructure but brings some majorly needed improvements. So when you say it would be scary to depend on the blockchain you really are saying you are scared of the current system in place. Which I am too and why DeFi exists 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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On 1/23/2022 at 10:55 AM, FakeATF said:

This is awesome. I’m always amazed to see how willing people are to throw their  life savings at some pump and dump scheme. 90% of crypto posts here are just the same few people crying about how it’s foolproof and in the blockchain. No one cares or is listening.

 

You see how flawed this argument is, right?

You need to look at the lower level of the actual mechanisms of how DeFi works and not the top level NFT monkey hype shit that clouds social media. There is a pressing need for an overhaul in our economic system and while DeFI and blockchin solutions don't answer everything they are still an improvement in every way. I highly suggest looking at how Vitalik Buterin and Russia have interacted Etheruem as well as what banks like Wells Fargo are doing in the crypto space. It's not a secret every company is now fighting tooth and nail for blockchain solutions, DAPPS, DAOs, DeFi, and the metaverse. This isn't an opinion either you can see mass interest and drive towards these "ponzi scemes" or "beanie baby" solutions. At the end of the day you can still not choose to accept the idea of crypto but everyone who does is reaping the benefits. 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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On 1/23/2022 at 10:41 AM, BabaGanuche said:

Has it ever occurred to you that we do understand it and that is why we have a problem with it. Our opposition is not out of ignorance, or just not wanting things to change, but out of understanding of what this represents and the earnest position that implementing such a system would make the world a worse place.

Yes I have and the issue is I have never gotten a reply that had an actual argument against it. I'll provide supporting evidence with the sauce and the other person will simply not read it and then say some mindless rant and that loop continues as they don't want to put the effort in to learn. If someone replied with a genuine concern with external data to support their claim and reasoning then sure I would be less prone to call someone ignorant or to go learn something but they don't. It's beanie baby this, ponzi scheme that, scam, pump and dump, NFT monkey, metaverse VRchat, and it goes on and on. 

 

The reason this annoys me so much is people are heavily misguided by a lack of understanding and only see what's on their social media feed as a source of news. It sounds very pretentious I know but things like DeFi only benefit you and take away power from bodies like hedgefunds, banks, and billionaires. Last time I checked everyone is bitching about the top 1% in the US and DeFi is a valid solution to help dampen or stop people like Bezos from ever becoming a thing. But people for some reason want to stay on the system we have that facilitates fraud and people owning over a Billion dollars in assets. 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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2 minutes ago, BuckGup said:

It sounds very pretentious I know but things like DeFi only benefit you and take away power from bodies like hedgefunds, banks, and billionaires. Last time I checked everyone is bitching about the top 1% in the US and DeFi is a valid solution to help dampen or stop people like Bezos from ever becoming a thing. But people for some reason want to stay on the system we have that facilitates fraud and people owning over a Billion dollars in assets. 

How does cryptocurrency benefit me and take power away from billionaires? How does it prevent people like Jeff Bezos having billions of dollars in assets?

 

Doesn't the secretive creator of Bitcoin hold billions of dollars worth of Bitcoin? Not only is he holding billions of dollars of assets facilitated by cryptocurrency, he also holds the power to destroy the value of Bitcoin overnight. How does that help me?

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12 minutes ago, BuckGup said:

But people for some reason want to stay on the system we have that facilitates fraud and people owning over a Billion dollars in assets.

And other people for some reason want to move to a system that facilitates fraud and people owning over a Billion dollars in digital coin.

 

14 minutes ago, BuckGup said:

If someone replied with a genuine concern with external data to support their claim and reasoning then sure I would be less prone to call someone ignorant or to go learn something but they don't.

Until NTFs are actually used for something beyond JPG ownership, my opinion about them and the people that tout them as amazing, will not change.

 

I can think of a number of great uses for something like an NFT, however I also don't think we're ever actually going to see them become reality. 

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2 minutes ago, Arika S said:

And other people for some reason want to move to a system that facilitates fraud and people owning over a Billion dollars in digital coin.

 

Until NTFs are actually used for something beyond JPG ownership, my opinion about them and the people that tout them as amazing, will not change.

 

I can think of a number of great uses for something like an NFT, however I also don't think we're ever actually going to see them become reality. 

What do you mean. They already use NFTs for domain names, music, and certification/titles. Personally I would much rather pay $7 in gas fees and instantly transfer a title of a car or home opposed to trusting a 3rd party, paying unnecessary fees, and waiting up to weeks for it. This is where fraud happens in todays society. I can forge a signature and show a fake ID and now have a title to a home. Whereas if you used an NFT and smart contract I could NOT forge a signature and a fake ID wouldn't work and your point of trust goes from a private 3rd party created to make money versus the community members you reside within.

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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6 minutes ago, Spotty said:

How does cryptocurrency benefit me and take power away from billionaires? How does it prevent people like Jeff Bezos having billions of dollars in assets?

 

Doesn't the secretive creator of Bitcoin hold billions of dollars worth of Bitcoin? Not only is he holding billions of dollars of assets facilitated by cryptocurrency, he also holds the power to destroy the value of Bitcoin overnight. How does that help me?

Satoshi Nakamoto owns roughly 900,000 bitcoins which is about 1/21 of the entire supply but Grayscale Bitcoin Trust owns just shy of 700,000 bitcoins. Many other companies are holding hundreds of thousands of bitcoins so no Satoshi cannot crash the market. The reason he held so many was during the infancy of Bitcoin since there wasn't a lot of miners a network attack was very possible and actually did happen and he was able to correct it and prevent any malicious damage. 

 

As for how it benefits you and takes away power from banks and billionaires this is where I highly suggest you learn the material. As I doubt anything I say with supporting sources will make you reconsider how you feel. But by learning about it yourself and coming to your own conclusions you are much more likely to think about it critically not influenced by bias in a forum debate. There's also really well written research papers and documents that explain things better than I ever could. With that said if you are willing to listen or entertain the idea your fundamentally misguided then I will take the time to make a comprehensive response. Again I suggest learning about it yourself first and then seeing what others have to say.

 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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3 hours ago, BuckGup said:

Yes I have and the issue is I have never gotten a reply that had an actual argument against it.

So you have not read my replies then. I have listed problem after problem and how Blockchains do not solve them.

 

Also your the one claiming this solve various problems and you have provided no evidence on how it does any of them.

 

4 hours ago, BuckGup said:

It sounds very pretentious I know but things like DeFi only benefit you and take away power from bodies like hedgefunds, banks, and billionaires. Last time I checked everyone is bitching about the top 1% in the US and DeFi is a valid solution to help dampen or stop people like Bezos from ever becoming a thing.

That is a might bold claim with absolute no evidence to back it. Hell I can use your own number to prove you wrong. So two groups controls (900,000 + 700,000) / 21,000,000 7.61 % of the total wealth. Ignoring the rest of the world the US has about $200,189,000,000,000 of total assesses (link) The top two richest people on earth Mush and Bezos have a combined net worth of (269,000,000,000 + 187,000,000,000) or 455,000,000,000 (link) just 0.227% of the total US assets. So the top two holders of bitcoin have a 33 times larger share of the wealth than the two richest people curretly. and the thing is that percentage never has to go down since there can never be more bitcoins made.

 

If you think bitcoin will stop wealth concentration I do not know how it could fail harder.

 

2 hours ago, BuckGup said:

Satoshi Nakamoto owns roughly 900,000 bitcoins which is about 1/21 of the entire supply but Grayscale Bitcoin Trust owns just shy of 700,000 bitcoins. Many other companies are holding hundreds of thousands of bitcoins so no Satoshi cannot crash the market

Once again a bold claim. If I sold 3% of the USA's total assets I could sure as hell mess up the market.

 

3 hours ago, BuckGup said:

This is where fraud happens in todays society. I can forge a signature and show a fake ID and now have a title to a home. Whereas if you used an NFT and smart contract I could NOT forge a signature and a fake ID wouldn't work and your point of trust goes from a private 3rd party created to make money versus the community members you reside within

Oh wait your serious let me laugh even harder.

 

How would the community members verify any of items below that a title company would? How would they verify the token on the Blockchain is actually for the house that is being bought? What happens when they verify a transaction that should not have?

Quote

The thing that most often immediately comes to mind is whether other people have ownership in or rights to the property, but a title search also looks for the following issues:

  • Outstanding Mortgages: Unless the previous home is owned free and clear, the current homeowner will have a mortgage tied to the property. This will need to be paid off at closing so that the title can be transferred to you.
  • Other Existing Liens: You could have a lien on the property for other things like a home equity line of credit or a loan to pay off solar panels, for example. These will need to be paid off or otherwise removed before you can close.
  • Unpaid Homeowners Association Dues: While this will vary depending on what’s written in the HOA contract, associations often give themselves broad powers in these agreements to place a lien on and even foreclose your property as a consequence of unpaid HOA dues. The dues of the previous owner will need to be dealt with one way or the other before moving forward.
  • Judgments Or Unpaid Tax Liens: If the previous owner has some unfulfilled responsibility, they can be taken to court and the complaining party can win a judgment that stays with the property until the person is paid. One scenario where this could come up in homeownership is if a contractor wasn’t paid for work that was completed. If the Internal Revenue Service (IRS) or another taxing authority places a lien on the property for unpaid taxes, they can collect proceeds in the event of a sale. Both issues must be taken care of before closing.
  • Restrictions: If there’s anything restricting the free transfer of ownership in a property, that can cause a problem. Examples of restrictions would be a requirement to be a certain age to live in a community or a requirement to belong to a certain group.
  • Easements: Easements are agreements that, although you own the property, you’re giving someone else the right to use your land for a specific purpose. An example of an easement might be the right to use space for parking.
  • Leases: Is the property rented out to anyone for a specified term? A title search will turn this up.

 

4 hours ago, BuckGup said:

This is where fraud happens in todays society

No that is not where the fraud happens. It does not happen at the man in the middle level. It happens at the user level either by getting the user to give up some data that they should not or get them to click on something they should not. Or at the data creation level you can steal something and create a NFT from it. (link)

 

4 hours ago, BuckGup said:

It's beanie baby this, ponzi scheme that, scam, pump and dump, NFT monkey, metaverse VRchat, and it goes on and on.

 

Like these scams,

 

How many more cases do I need to list.

 

2 hours ago, BuckGup said:

There's also really well written research papers and documents that explain things better than I ever could. With that said if you are willing to listen or entertain the idea your fundamentally misguided then I will take the time to make a comprehensive response. Again I suggest learning about it yourself first and then seeing what others have to say.

Please provide I would love more arguments to tear to shreds,

 

The TLDR of problems Blockchain does not solve.

  • Concentration of wealth
  • Fraud
  • Proof of ownership
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Posted
4 hours ago, BabaGanuche said:

So you have not read my replies then. I have listed problem after problem and how Blockchains do not solve them.

 

Also your the one claiming this solve various problems and you have provided no evidence on how it does any of them.

 

That is a might bold claim with absolute no evidence to back it. Hell I can use your own number to prove you wrong. So two groups controls (900,000 + 700,000) / 21,000,000 7.61 % of the total wealth. Ignoring the rest of the world the US has about $200,189,000,000,000 of total assesses (link) The top two richest people on earth Mush and Bezos have a combined net worth of (269,000,000,000 + 187,000,000,000) or 455,000,000,000 (link) just 0.227% of the total US assets. So the top two holders of bitcoin have a 33 times larger share of the wealth than the two richest people curretly. and the thing is that percentage never has to go down since there can never be more bitcoins made.

 

If you think bitcoin will stop wealth concentration I do not know how it could fail harder.

 

Once again a bold claim. If I sold 3% of the USA's total assets I could sure as hell mess up the market.

 

Oh wait your serious let me laugh even harder.

 

How would the community members verify any of items below that a title company would? How would they verify the token on the Blockchain is actually for the house that is being bought? What happens when they verify a transaction that should not have?

 

No that is not where the fraud happens. It does not happen at the man in the middle level. It happens at the user level either by getting the user to give up some data that they should not or get them to click on something they should not. Or at the data creation level you can steal something and create a NFT from it. (link)

 

 

Like these scams,

 

How many more cases do I need to list.

 

Please provide I would love more arguments to tear to shreds,

 

The TLDR of problems Blockchain does not solve.

  • Concentration of wealth
  • Fraud
  • Proof of ownership

I read a Harvard review of blockchain,  they were implying it could be used for contracts and government actions in a way that they could not undo or edit.  On one hand it seems like government not being able to hide their claims/policy advice sounds like a brilliant thing, but on the other hand these days it seems they get caught out lying all the time and the only people who care are the ones who voted for the other guy.  So it might be an advantage but has little real world impact.

Grammar and spelling is not indicative of intelligence/knowledge.  Not having the same opinion does not always mean lack of understanding.  

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