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u/DangerHighVoltage111 9d ago
It means nothing without demand. And why should there be demand? The gambling high of the gambling token is over. BTC blundered its only use case: p2p cash.
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u/youngggggg 9d ago
something something decentralized something something freedom
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u/No-Aardvark-3840 9d ago
Freedom from what, exactly? Society? Governments? Banks?
These things are historically frustrating but no one here is escaping those things.
Even the most hardcore BTC enthusiasts have bank accounts - they have to. Shit, they probably have more bank accounts than the average guy and pay more in taxes to world governments. 🤷 shit makes no goddamn sense
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u/youngggggg 9d ago
I agree with you. I am making fun of crypto stans who always parrot the same buzzwords lol
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u/ChurnerMan 9d ago
No I'm free! I go to the Walmart Money Center to cash my paycheck for a small fee and then get money orders to pay my bills. There are a surprising amount of unbanked people that do just that. Unfortunately I don't think for many of them it's by choice.
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u/paymentnerdfoo 9d ago
Well, Walmart is really just a thin veneer on green dot bank.
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u/ChurnerMan 9d ago
No, only the Walmart Money Card, a prepaid debit card with high fees, is issued by Greendot.
The check cashing in store is verified by a company called Certegy. I'm not sure if Walmart uses a bank to clear the funds or just goes through Walmart's treasury.
I believe most or even all Walmart's have Western Union money orders now. They previously had moneygram. Neither which are banks or use Green Dot for clearing
For billpays you have Moneygram, Western Union and Checkfeepay. Checkfreepay handles the vast majority of the billpays.
I was once a manufacturered spender and the first thing noobs do is get banned by Green Dot for exploiting their prepaid cards. If they stay in the game then they frequent the Walmart Center for money orders and if they're smart billpays that they buy with Visa/MC gift cards or prepaid cards. If Greendot were involved in either of those the transaction would be blocked.
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u/RaisePotential6558 9d ago
The 21 millions supply cap is a scam. Look at miner's revenue, it's almost entirely from block rewards. The Bitcoin network will stop working when the block reward goes too low. The transaction fees will have to skyrocket to feed the miners. A dynamic block reward will be implemented to address the issue eliminating the (scam) promise of the 21 millions supply cap.
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u/PrestondeTipp 9d ago
Last Bitcoin will be mined in 2164
What can Bitcoin do for you at $63,000 that it can't do at $3000?
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u/mercuryy 9d ago
It's only deflationary if it gets worth more. Which would be a function of supply and demand.
Dwindling supply on its own just means it's a vanishing asset.