World needs an open and secure BIOS. I disliked UEFI from the beginning, it was only put there to complicate installation of OS other than MSFT’s.
Anyway Digital vs Paper Money
Wow, what a masterpiece! 
Even the red color is showing off like it’s in a beauty contest. 
Somewhere out there, people are zooming in, pretending not to be jealous but secretly crying inside. 
Because it’s not regulated.
Because the experiment in that country isn’t over.
The IMF opposing it reduced the testing period. So its only valid for private transactions like many other places.
What about UPI? I don’t use it.
Stocks are not a currency. I’m referring to fully convertible currencies that float as opposed to being constantly manipulated by government.
What does a knife encourage? It isn’t regulated either.
I didn’t say to stop digital progress. I’m saying don’t take away other existing ways. Because that is the part that isn’t said.
I also never said replace whatever existing digital with bitcoin. Bitcoin being digital is as susceptible to power cuts like any other digital transaction process.
A country of a similar size economy with not much power cut problems doesn’t think too much about digital currency. I find that interesting. What are they seeing that we’re not and vice versa.
Digital requires dependable power. We don’t have that and aren’t likely to for some time to come.
Some people have a problem with fiat currencies. I don’t know to what extent bitcoin solves that problem but its a step in the right direction for those opposed to regulation.
Your needs. Those using bitcoin have different needs and motivations.
Yes, if you’re talking investment alone. But if you need liquidity then what. You need something to transact with. If it works across borders then you do away with exchange rates because the value at any given point on time is the same everywhere.
With all the anti-US sentiment around you would think bitcoin would see a surge but that’s not happening.
Well, then there are clearly other reasons to transact in bitcoin that I’m not aware of.
They can only tax what they can see. By allowing its use they enable transactions to be reported.
There was a time when there was a lot of hype because the value was rising quick. Then things bottomed out and now people are down on bitcoin. Demand waxes and wanes.
It’s not going anywhere. I don’t agree its a solution to a problem that doesn’t exist.
You are looking at it solely from an economical pov. I’m speaking political. Bitcoin doesn’t come from this country. Looking at it from an Indian mindset isn’t going to help understand the motivations behind why it came about and still continues.
You clearly arent aware of libertarian ideas. They oppose excessive government control. Digital currency is a step in the opposite direction. Statist. Increasing government control over your life.
An American whose ideas scare me is Ken Rogoff. This bugger wants to replace all cash with digital. Wrote a paper on it back in 2015. The good news is I’ve yet to hear his name from Indian commentators. This means the Indian government isn’t going to go that far.
And by the looks of it nor Germany 
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lolwut ?
We’ve already spearheaded it with demonetisation, UPI, removal of 2000 rupee notes and the introduction of digital rupees. We will be a cashless economy in the next 20 years.
And so it encourages fraud. We can go on. Since its not used as a currency, why the hype ? Because of the large returns.
There is 0 reason to transact in coins for most people.
From what i read, it did not get much traction. UPI did. Whether we use it or not.
Yes you said markets or govt control. I said we can have both.
And yes, we have smart enough people deciding what to do for us.
There is no reason to just assume that fully convertible INR is good for us. Are you saying you know better than them ? I dont, so either way i cannot judge.
But so far INR has served its purpose no ? How do coins improve daily lives of people vs INR.
Bad analogy. A knife does not trigger mad emotions in large groups of people. Money does. And that encourages frauds. Again - if coins did not have crazy movement, how many would really be interest in them.
Years of this so called revolutionary tech has made very little difference in day to day lives of most people. Only people who held it as an asset are happy and the criminals - for the most part anyway.
You said too much use of UPI was a security risk implying its growth should be curtailed. And for some reason gave Germany as an example which makes no sense.
Yes, as long as alternatives exist, i don’t see it as a risk. And we should be competent enough to manage that risk. If govt pushed to using only that then yes.
We should use other useful ways that align with what the policy makers think is good for us. Not everything is. That said it hasn’t been banned.
Also i dont see these 3rd party coins helping us make digital progress. INR coins, perhaps could be useful. I could download money lol. But most of us would prefer cash i think, or atleast no one will want cash to go away.
People have problems with everything. People also love conspiracies.
Anyway, coins have existed for long time, and they have made very little headway as actual currencies. They are far too volatile too. Whether or not its due to govt doesnt matter.
Normally, such people should consider gold and other real assets, no ? Gold keeps its value, has a long history of doing that. Perhaps its doing better than that these days. True value of a house will also not be affected by inflation ? Ofc reality may be more complex, but once you hold a group of assets, including stocks, you can manage inflation caused by loss of value of ‘fiat’ currencies with time.
So why crypto then ? That holds no real value and has very little track record. For most people - because it made a large gain in last decade.
yes, for most people, a large part is speculation rationalized with theories. As i said any asset that makes a large move in short time brings out the crazy in people. And yes, we will others too, but the first group will be the majority.
What are you talking about ? Stocks, gold etc are all liquid assets with low friction. House perhaps less so, but we need to have a mix and we can live in a house. Target currency will be what we use, which isnt coins for most of us.
Coins may have some use in international exchange. Thats the only useful thing i can think of.
Currency pairs also have a value, coins are not special that way. There might be a spread, but i would think that the spread is still cheaper than transacting via coins. Else why has it not taken over ? My guess is because its not competitive in cost. If i am wrong, say so. I have 0 experience.
And it so volatile. Your value could change by a noticeable amount in a short time to cause issues.
And most people will want to convert to their own currencies. So transaction through coins has multiple conversions. And those conversions will have friction - And risk. Coins are probably riskier due to less regulation / oversight. So many times they have been stolen from exchanges, its hilarious.
Criminals seem to have found a good use for it, yes.
I think its still over hyped. And its not the only coin.
What is the problem that it solves in an efficient way and in a better way ? Why has it not replaced older methods then ? When will it do so ?
Yes i am looking at it from Indian mindset. I dont care about politics anyway and certainly not politics of other countries. And politics of other countries shouldnt influence us to use coins.
If it actually solves something and helps improve things, then yes. UPI seems to have.
But coins dont and you risk not having control over your own currency.
Thats all good. They can hold as much bitcoin as they want. They can even go crazy and buy shitcoins from papa trump and give him money.
That doesn’t make it useful. Why aren’t they replacing USD with coins for their daily transactions then ?
All of these theories will collapse if coins bubble bursts. They will lose money like people have in the past bubbles. Is it a bubble ? Will it burst ? When ? Hard to say. You will probably need a trigger and a credit squeeze. But when there is a bubble, we always have reasons to justify that bubble when its ongoing.
What we can ask today is whether its useful ? Efficient ? Has it lead to growth ? Does it have an inherent value and is it close enough to current value ?
Anyway i don’t care for politics. Coins arent useful to me and i believe they aren’t useful to a majority of people. They seem to be useful for criminals and for speculation.
If they were useful and groundbreaking, they should have become widely adopted by now for transactions. They did not gain much traction in the one country that tried to use it officially as a currency from what i read.
Yeah, i dont like having everything tracked and controlled. Even if current govt behaves well, a future govt may not. But most of it probably already is tracked if dont remove all tech from our day to day existence.
Politics has its own cycles. I dont really care about all of this, nor do i have control over it. We are fortunate enough to be in relatively more stable and peaceful times than past decades and centuries, with good tech progress. Hopefully that will continue atleast until we are dead .
Anyway, ill stop here, i am writing too much on a topic where i have little expertise.
I dont care for coins. If they become universal, then i guess ill use them. Today i have 0 need for them and there are better ways to speculate ( that is my profession )
Every time I come here and see blr_p vs others posts, i come to a sullen realisation, that I better stay away as far as possible rather than make an attempt to learn something.
As usual, we are powerless against what is happening out there in the real world. But to learn from this is the big question.
Says a lot and leaves a lot unsaid too.
Really?
You are going to have scams regardless of bitcoin or not. There is always risk if you want larger returns.
What I’m not hearing is whether it should be banned?
It was tried and failed. It’s like banning alcohol. So as I said it’s going to be around for some time to come.
And I’ve ignored most of the speculation especially from Indian commentators
14:36 to 14:40
Well you need a narrative to push the scam, what do you expect them to tell you ? that it’s a long con where most of the mined BTC is owned by a handful of people ?
If you’ve followed BTC since its inception or even followed its trading patterns, you’d be aware that it’s not as decentralized as they make it out to be, the market movements are determined by the whales.
I have BTC wallets dating back to the Mt.Gox era so I’ve seen first hand what a coordinated pump & dump scheme it is.
The dormant wallets from 17 years ago are regularly being activated to dump BTC on unsuspecting retail buyers.
https://www.thestreet.com/crypto/markets/satoshi-era-whale-wakes-up-and-moves-28k
US Crude Imports To India Surge, But Russia Remains Biggest Source Despite Tariff, Sanctions Cloud: US Crude Imports To India Surge, But Russia Remains Biggest Source Despite Tariff, Sanctions Cloud
The US exported a total of 568,000 barrels per day of crude oil to India in October, which is the highest since March 2021.
Russia, however, remained the main source, accounting for 34% of India’s crude basket with 1.62 million bpd supply in October.
This guy is pardoning people he doesn’t even know anything about, he has officially reached the Biden stage mentally
Of course he knows. He’s just snapping at reporters asking about it. He denies knowing Jeffrey Epstein too, do you believe that?
Trump claims eight planes “shot down” during Pakistan-India conflict:
US President Donald Trump has once again commented on the brief military conflict between Pakistan and India earlier this year, claiming that “eight planes were essentially shot down” during the confrontation.
Thing is, this time he didn’t say whose plane were those.
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After they approve 50 year mortgage, then they will probably come up with sell your kidneys/eyes/liver to pay the mortgage.
For that they will have to make sure their critical internal organs are working fine: US to deny visas to people with diabetes, heart disease and other chronic illnesses - The Times of India
This news might be sending a message to their citizens too…