LOL.... Bitcoin responds to economic conditions like other currencies... It's ok.... Bitcoin looks promising but lets not get ahead of ourselves.
Other currencies aren't finite stores of value. It's akin to gold not a fiat **** paper currency Let's not unravel everything we've learned in this thread now. You know better
and 'unstable' gold has a mkt cap in the trillions.. while having nearly 0 utility outside of electronics and jewelry digitize it, give it bitcoins features. what is it worth now? thought experiment
You're just in love with bitcoin and can't see the forest through the trees. It's ok though. There's a reason why gold has stopped being used, what goes up must come down. Do I think bitcoin/blockchain is more viable, absolutely. Considering how much bitcoin was traded in 2014, it has quite a few levels to pass before we have any idea of how it will actually workout. However, comparing it to gold doesn't help your case.
It may do fine, it may not. World's more complicated than thought experiments. We certainly had more bank runs and economic crisis under the gold standard in the late 19th century than anytime with our "worthless, fiat currency".
Yeah I'm in love with life.. stuff thats awesome in life. It's how I can immerse myself into a subject and learn it inside and out. I'm a ****ing dork, sorry for having intellectual passion. ****tily applied metaphor is ****ty. It's ok though. gold was the reserve but that didn't stop central banks from printing paper and being corrupt cronies. Gold just made it less risky. The point of bitcoin is that no feeble human minds can issue it or control it. World is as simple as capitalism and the greedy pursuit to get it and get more power. Bitcoin is cemented as a capital vehicle. Bitcoin is a disruptive invention as monumental as the steam combustion engine. Arguably as disruptive as nuclear technology. It's going to be a financial cold war arms race. You will either have bitcoin or you won't.. not having it/"using the blockchain" pretty much means your destruction as a bank or a nation state. Or the whole world can be on equal footing and shift from mutually assured destruction to mutually assured prosperity
"First they ignore you, then they ridicule you, then they fight you, and then you win." - Mahatma Gandhi
It's cool man. Loving life is great, but the real world is a different beast. We had more bank runs and economic depressions/recessions in the last half of the 19th century under the gold standard than we've had since the Fed was created. I don't see how gold was any less corrupt and it certainly wasn't stable for a booming world. Printing money isn't bad in itself, like most things.... the devil is in the dose...aka how much money is being printed. As we've seen with bitcoin, it still has been affected by greed and corruption, so it's not completely out of human hands yet. Intellectual passion is great, but be careful with the absolutes you are making. Kay.
Hm I didn't know the NYSE, nasdaq and billions in $$ of VC funds played in anything other than the real world. The beast loves bitcoin
So bitcoin hasn't been volatile? Which was my point, not that bitcoin is literally like any other currency.
