How do you quantify the "value" of BTC then? Right.... but things like equities, real estate, commodities are generally doing something useful because the underlying thing they are trying to "achieve" is useful. Like stocks for example aren't just something to be gambled but provide companies funding. Commodities like metals and oil are part of the global supply chain.
I'm confused. You're telling me real estate prices are priced correctly? If you traded in equities, you would know they are not trading on fundamentals. Unless you think Nvidia is priced correctly.
Yeah, it's all pretty much the same. In fact, I'm in the middle of setting up some shell companies in the Virgin Islands where I can create billions of units of new "value" that is equal to the USD (because trust me bro), and then have that value pumped up by wash trading on some unregulated exchanges, ultimately resulting in me being able to sell my house for 10-100x it's actual value...in RC Cola bucks. But again, 1 USD = 1 RC Cola buck, so no worries there. Shouldn't have any liquidity problems at all when I need to cash that out. Some might think that's a bad idea dealing with so many shady and unregulated entities, but if they can't provide historical evidence for why this is problematic, then I say have at it. Merry Christmas from a very snarky RC.
You are telling me computer coins (probably created by the US govt for all we know) that you are supposed to HODL is not providing any value in the "real" world? shocked. How ironic would it be if BTC was created by the very institutions the BTC fanatics hate?
Sorry ignore what I wrote before. I decided to rip up that attestation and create new one. 1 (snarky) RC Cola Buck = 0.5 Units of Jae'Sean Tate's trade value = 1 Future First Round Pick Hopefully I can get an OKC-esque haul when it comes time to liquidate my stash of RC Cola bucks.
looks like the FED's Inflation to me... on a separate thought, https://www.federalreserve.gov/central-bank-digital-currency.htm
You were going on and on about how Bitcoin isn't immune to inflation, when in reality it is. You seem to have conflated price with inflation, I was simply trying to tell you there is a difference. Just because something went up in value does not mean it has "inflated". You cannot "inflate" BTC, its supply is fixed. Again, storing value is the utility. You don't want money that has a primary function other than being money. That's how you end up with someone owning 100 rental houses and middle class families unable to afford even a basic starter home.
Inflation is an increase in the rate of the price of goods and services. Such a utility for the greatest store of value ever conceived in human history: As far as housing.... we are undersupplied by millions of homes so the issue is physical supply.
In his defense, that's what google will spit out at you. Fiat brain is everywhere and hard to unlearn.
My rebuttal isn't meant to be a political post but there are elements of politics in @Commodore's post that need to be addressed with this biasly-framed chart: 1. Naming the inflation over the last four years 'President Biden's Inflation' is a misnomer. It should be called 'Pandemic Era Inflation' It's clear from a macro level that it's due to two issues: The Covid Pandemic affecting supply chains. (to keep this simple, I won't go into how Trump's policies exacerbated supply chain issues) The Ukraine war that caused energy supply prices to spike. In simpler words, things cost more due to globalization and supply impacts on the global level affect the American economy. 2. This chart is dated in 2023, when inflation was starting to drop due to the 2022 Inflation Reduction Act. It was working. Also, this chart is from Political Calculations and is used to back up their claims that 'Biden Bad!' for economy. Here's a chart on inflation pulled today for the past 10 years. Note how inflation started coming down in 2023: And here's 100 years for context: Charts from this source: https://tradingeconomics.com/united-states/inflation-cpi
Sometimes simplicity is the best. Yall just keep going around in circles, acting like because BTC has a finite supply it’s somehow immune to real world prices.
Tried to keep it simple because you just keep hand waving away how BTC actually acts in the real world. Money supply is only one part of the equation for the price of goods and services.
So then what have you been arguing? I keep pointing out how BTC isn’t special and despite your claims of “the best this and that” that it seems to have the normal drawbacks.
Except that it relies in the existence and functioning of a government supported and regulated internet. "Money perfected" probably should not lose all of its ability to be accessed and transferred or otherwise used as currency in a global armagaedon... or anytime you are somewhere with no internet access.
As long as humans are involved in any aspect, it won't be perfect and it certainly will be manipulated by the powerful.
"The internet" does not need any government to function. 1) Again, money, not currency. 24/7 internet access isn't necessary (although that's pretty much the new normal) when you're simply storing value. 2) Armageddon puts us back to stone age barter so your point ends up moot since all other monies get wiped out too.
