People still buy penny stocks. Pump. Dump. People actually spent money on NFTs!! like actual dollars. people bought land in the metaverse. Hell people buy tickets to watch the Texans! hey at the end of the day it’s not my money. People can believe with 100% conviction that BTC is the future. Doesn’t affect me one bit. When the US govt is overthrown and we have to switch to BTC, I will have no choice but to switch also. Till then…swiping away with USD.
Nobody bought beanie babies as a store of value. They bought it as speculation. Confusing the terms doesn't make it so.
Nobody bought beanie babies as a store of value. They bought it as speculation. Confusing the terms doesn't make it so.
Maybe you can get a second job as a comedy writer after your net worth gets torn to pieces by inflation.
Mentioning "beanie babies" is basically the #1 tell that someone has put absolutely zero effort into understanding Bitcoin.
Just like Zucks metaverse, if feels like the Field of Dreams...if you build it, They will come. I'm not sure what the immediate post (global) dollar world would look like, but i imagine if btc makes it big, you'll likely have to spend/use it elsewhere. FDR once confiscated everyone's gold. Uncle Sam will get a piece of that some how some way, even if you swallow a hard drive full of seed phrases on your way to the Bahamas.
Just seems standard practice to provide a link when referencing someone's work, no? Not really.... just understanding context. The quote in question was from 1919-1931, which was still under the gold standard. Also a pretty boom and bust era too.... well most of the 19th and early 20th century was very boom and bust with such growth and such an inflexible currency system. I get it.... to you BTC solves every issue that has plagued monetary systems since the dawn of civilization. There's nothing that can convince you. Things just have life cycles, nothing is permanent. 200 years is a very long time on human scale.
In post 1 you imply Bitcoin isn't speculative, in post 2 you say it is (and may be forever). Contradictory. Again, I think we all have different definitions of 'speculative' that we trip over in conversation.
Agreed. definitions tend to get hazy. Even the term SOV is extremely dicey. I certainly do not consider the USD a SOV. In the first post quoted by our esteemed poster, the conversation was about beanie babies. geeimsobored stated people bought beanie babies as a SOV and I never intended for that segment of conversation to reflect on bitcoin.
I do not want to be presumptuous and state bitcoin solves every issue ... but yes, this is the crux of the conversation. Modern money is extremely antiquated for the modern global economy. Better than sea shells or Rai stones, but we have long evolved past those forms of monies. Its time to evolve further. Stating the modern monetary system is sufficient is wrong. Only the priviledged and elite believe that. Sometimes you people forget you're part of the 1% of the world.
No..... I am very much not part of the 1% and decidedly middle class. There's always a game.... some folks prefer not to learn or play the game, instead have their lip stuck out. While I definitely think monetary systems evolve over time, the modern money system did usher in the modern global economy. Much like how 19th and early 20th century was very boom and bust due to the growth and inflexible currencies, the modern global economy needs access to flexible monetary systems to expand. The amount of growth that has happened from mid 20th to now is astounding. BTC would provide a much different type of global economy.
I'm no history savant but I believe that soft currencies manipulated into collapse played a fairly large role in all the early 20th century turmoil. Bitcoin is the hardest currency ever discovered or invented and is immune to manipulation. Do you understand what those issues are? Do you understand how Bitcoin addresses them all? It does not sound like you have a firm grasp or either the problem or the solution. Currencies need to be: -Transportable -Divisible -Scarce -Durable -Verifiable -Fungible If you sat down and actually learned why these are important, and how each asset class performs in each category, you'd be better off for it. Well at this rate we're never going to find out because you guys can't seem to muster up any arguments. I understand the temptation to essentially bet on "the field" vs. Bitcoin. I view 200 years as a pretty small blip in time when considering the importance and scale of an entire new monetary system. You always have to be looking out for Black Swans, but the ones I'm worried about are species threatening and not just Bitcoin threatening. I can imagine a cataclysm. I cannot imagine someone re-discovering the solution to the double spend problem and getting the entire planet on board with their monetary network.
You might be middle class in the US but you are a 1% of the world. You have safety, security, abundant cheap resources, clean water, healthcare, education, stable government ... I could go on and on and on. This is why you dont understand bitcoin. You don't understand how much better you have it than most of the world. You are a beneficiary of the cantillion effect.
The fact the Bitcoin is simply an asset class isn’t all that impressive…. All the stuff you predict is still on paper and not the real world in any meaningful way. It’s simply impossible to convince you that think will happen, won’t. The folks who bought their BTC near the peak may have a different view about how BTC is a store of wealth.
Come on….. why do you think billions have access to clean water in 2023. Clam shells? Beads? It sure isn’t because of BTC. And how would BTC be able rapidity invest hundreds of billions in global infrastructure? It’s crazy how much has been built just since 2000.
Whenever you create something so innovative and useful it brings about its own asset class that's pretty impressive IMO. You keep saying this and you are wrong. Stop being lazy and actually try to research this thing you keep running your mouth about. Apparently what is simply impossible is for you to come up with an argument to support your point of view. So far the best yall have come up with is "nobody cares" and "things come and go". Time horizon and volatility has been addressed already, several times.
