The energy usage thing is doubly a nonstarter because BTC is the only non-political tool we have to encourage renewable energy adoption and the harvesting/development of previously stranded energy sources. It's a net positive for the environment and one of the things I'm most excited about.
LOL. I can think of a single one: people don’t give a fook and continue living their rat race life. at the end of the day everything is about transferring real dollars from the average sucker based on some heaven. Whether it’s religion…BTC…EV… Paint existing solution as broken and terrible Promise the world with the new solution To deliver or implement the new solution, please give me your money. Many will get rich during this process who in turn become evangelists for said solution. Rinse and repeat.
That's a pretty shitty argument that carries as much weight as someone saying "people do care". But it does have the advantage of being circular and impossible to substantiate, so nobody can prove you wrong, bravo!
@Space Ghost how do you envision taxes working in a fully scaled BTC world? It seems like the only thing you could reliably tax is physical property, which would be a real paradigm flip making land more of a liability than ever before.
No link? Well at any rate this one quote surely means inflation is just a conspiracy to take wealth…. We certainly never had inflation before fiat….
That’s the pot calling the kettle black…. There’s nothing that can be shown to you to convince that BTC won’t be around for 200 years….
Let me google that for you. It takes no conspiratorial thinking to understand what manufactured inflation does to the wealth of the average person. The fact that other soft assets have been manipulated throughout time is not a compelling argument to keep a soft asset like fiat in the face of a harder asset. If you can come up with a sound argument for why Bitcoin will not be around in 200 years, I'd love to hear it. Given how much of my wealth is in BTC, I have an incredibly strong interest in learning about its potential weaknesses. Me making up bullshit or lying to myself is only going to get me bankrupted. The floor is yours. Have at it.
That's how I feel about you making a claim that bitcoin will be the currency of the future and still around 200 years from now. You'll never be able to prove it just like all the other claims that bitcoin is claimed to be the savior of at some undetermined point in the future that's perpetually 10 years away from being 10 years away or one that is so far out of reach, you nor I will be around to see who's right. When you die, what will happen to your bitcoin? Am I to assume you will transfer your code into your will to a specific person or people to then manage? What if the person that issues your will is a scumbag and steals your wallet and changes your will from going to your intended bitcoin benefactor? What if your kids or whoever you'd give your bitcoin to think bitcoin is ****ing stupid and sell it all right after you die and don't HODL? What if quantum computing or any futuristic tech not even imagined yet ever becomes mainstream like your everyday PC is and alters the economy in such significant ways that it leads to the development of tech that surpasses any purpose or need for bitcoin? That honestly seems very realistic to expect in the next 200 years or 500 years or 1,000 years, or 10,000 years , or 100,000 years if humanity is even around by then. The way things have been going lately, I can't even be fully confident that we'll be around that long, but you're 100% sure as can be confident bitcoin will be. OK. You won't be alive for it anyways but sure, make that impossible to substantiate claim, so nobody can prove you wrong, bravo! Here's a hypothetical situation that would realistically happen. What if we experience a carrington event that destroys the electrical grid globally for decades and sets humanity back from all the chaos that'd ensue for even longer than that? You think bitcoin will be around then? I understand all the other global currencies will likely become just as volatile and useless, but you honestly think bitcoin will be the lone survivor in all of that chaos?
"Nobody cares about bitcoin" is a shitty argument because it's subjective. It's a moving target based entirely on Sajan's arbitrary definition. To argue that point would be a fool's errand. "Bitcoin will be around in 200 years" is a prediction, but it's not subjective. I can offer support for it, but of course I can never "prove" it (this is why I said "I think" and not "I know"). An asteroid could hit the planet or an alien race could detonate a world-wide EMP and erase our entire electrical infrastructure and every electronic/digital record in existence. I have a will set up to transfer title to my heirs including instructions (which are only accessible to my heirs) on how to recover/access the funds. There are service providers who help you walk through this type of stuff now without custody risk: https://unchained.com/blog/unchained-inheritance-protocol/ Who gives a ****. I'm dead, remember? This risk exists for everyone regardless of how they store their wealth. 1) We've already addressed the Quantum computing problem. Here's a recap. 2) Somewhat related to the "next best thing" phenomenon is the Immaculate Conception problem: LOL great minds think alike I suppose. If we have a problem of that scale, we're all ****ed and no amount of any asset is going to save you.
What I enjoy about Bitcoiners is that we all have a unique world view. Im curious, how long have you considered yourself a Bitcoiner? What I envision is multiple forms of fiat being backed by bitcoin pools. Since bitcoin can be owned by anyone, this will force fiat to be much more honest. The reality is that the world still will depend on credit, which is largely the basis behind speculation, which leads to constant booms and busts. I dont think, as a society, we need a hard money as a common medium of exchange. We simply need access and the ability to hold savings in hard money. I also believe time and labor are forms of money, albiet much more difficult to audit. There needs to be a much better solution for the average fool to hold bitcoin w/out losing it, whether its through fraud (SBF) or pure negligence. This is why I currently hold to the idea that it will be governments that hold the bitcoin and issue fiat against it and those who wish to self custody can do it. So in that sense, I do not see a huge change in current monetary structure. My vision prevents imperialistic minded nations from strong arming other countries, thus allowing these '3rd world' nations to compete at a fair level. Cantillon effect is important. Unfortunately I see taxes staying the same
I have to admit I was wrong and people are still buying Bitcoins. I would’ve thought for sure bitcoins would’ve gone to 0 as people realized they’re useless.
Thanks. Thought it was just common practice to provide a link when referencing someone's work. So out of a collection of ~380 pages, you've cherry picked a very small excerpt...... This was published in 1931 and these "essays" were written between 1919 and 1931. Your post was clearly meant as some "gotcha", but yet you provided no context to it. We were still on the gold standard when this was written, no? 1919- 1931 was a crazy time economically with a major boom and a major bust, sandwiched between two world wars.... No?
One of the ways to get beyond the "what about the next crypto that comes along" concern is to realize that the value is derived from the solution to the doublespend problem which was exclusive and first to bitcoin. Bitcoin is less like a product and more like an element of the universe or a law of physics. Bitcoin is not 'the first cellphone', it's the ability to communicate wirelessly. It's not the first plane, it's the discovery of man-made flight. Etc etc. You can't discover 'something better'. The innovation was the discovery. Any 'new, better' crypto is going to just be derivative (at best) and as such will never be able to match Bitcoin's network (the primary component of its worth). I have to think there is some curiosity in the people who do nothing but poke there heads in here from time to time to scream "PONZI SCHEME!!!!11111112346547o" but boy it's hard not to doubt that most days.
People bought beanie babies as a store of value for a couple of decades. No reason why the bitcoin market can't persist.
