Hate Bitcoin (BTC) Because Putin Might Use It

Dennis Porter shared: If you hate Bitcoin because Putin might use it.  You should also hate the internet, GPS, cars, airplanes, and oxygen.

Community Response:

The Russian government has its way, but eCash and Bitcoin are meant for every human on earth.

Putin will likely use BTC to help circumvent sanctions and ensure he has other financial avenues. The western world needs to embrace BTC and use it to their advantage instead of fighting it. BTC does not fix any of this, but it can be a valuable tool that will aid in fighting him.

When your Billions in foreign banks are frozen, it’s too late to convert to BTC – Putin’s dilemma! BTC is saving his “subjects” – FROM HIM! (He’s unloved by a wide margin in both Russia and Ukraine – do some homework).

Not sure who hates it. I don’t prefer it. Just because it’s so slow though.

Slow for what? Are you paying crazy gas fees like eth or something?

The last few times I’ve had to use it, 10-30 minutes for 2 confirmations. I respect it for allowing the way for everything else. I just prefer faster alternatives.

Lightning network is faster. If you transfer bitcoin on chain, you have to compare it with bank transfer. And bitcoin is faster too.

Why should a blockchain need another layer for transactions? So pay someone else for transactions? Sounds like visa.

Because the first layer must be decentralized and secure. Can’t be scalable too.

The internet GPS, cars, airplanes and oxygen all have proper use cases when it was realized that BTC wouldn’t work properly for its intended use case, the maxis created the fake “store of valve” “digital gold” narrative to keep people in, “tell a lie enough times” etc..

So the use case is the issue? That’s why XRP is like 20% of its ATH, 4 years later, and BTC is where from that date? At least a double from then? I’d say the market has spoken on use cases.

Why are you trying to equate use case to an ATH? It’s irrelevant but nice try all the same, what are the ATHs of GPS, oxygen, the internet then…

If trying to compare XRP to oxygen makes you feel better, feel free. Unfortunately that’s not how this works.

I am not, but the original post did trying to compare BTC to oxygen which is what I responded to… I know it’s hard for maxi pads to follow logic, premise or even keep up with and adult discussion… So yes that’s exactly how it works.

Bitcoin is a neutral innovation. Like the telegraph, steam engine or printing press- it has no intrinsic opinions, preferences or beliefs. The user gives it meaning.

If I had a choice between Bitcoin and USDT, I would choose USDT because it is a stable currency as its value is equal to the US dollar and does not go down or up with market fluctuations.

Good for you. Now go attempt to transfer 10k worth of USDT out of the country (or into it). After that check out the free ride Billionaires get when they create trusts and NGO’s to avoid taxes altogether. If the IRS was truly worried about tax evasion, they would go there first.

The fact that an alternative route for money to sidestep financial warfare now exists decreases the value of financial warfare.  This is great for global commerce and protecting all the small businesses that get hit hardest.  It also means that if it is ever turned on you.

Seizing funds is only a small part of sanctions. Blocking trade is where the damage is done. If you lose customers, your business can fail. Sanctions are customer loss.