The president-elect wrote that the coalition of non-Western countries “should expect to say goodbye to selling into the wonderful U.S. Economy” if it backs a currency other than the U.S. dollar.
Cool meme and all, but the fact that you yourself are talking about when someone should or shouldn’t invest in bitcoin just proves my point. That’s the opposite of stability. People don’t regularly move their savings from dollars to euros and back depending on which is worth more.
Good for you for getting rich on your investment opportunity though. I’m sure that’s very nice for you.
You couldn’t find the point if it was layed out cleanly before you, as I clearly explained it is not currently what it very easily could become, and also that it is virtually no long term risk even in its current state.
Yes, I know, you expect a pyramid scheme where somehow magically enough people invest in bitcoin that it no longer is an investment opportunity and it becomes a currency.
At which point, all the people who used it as an investment opportunity and don’t care about the whole ideology behind it dump it and switch to a different investment opportunity.
Either you don’t understand what pyramid scheme means of you think theres some tiered shadow organization promoting bitcoin. Either way you’re an idiot.
It was a metaphor, but since you’ve decided that you can make credible pro-bitcoin arguments with memes and insults, I don’t think we need to go further.
The lack of denial and deflection when accused of holding a sizable investment in it is very telling.
Besides that, calling it a currency is a joke. Its value is based entirely on speculation as an investment opportunity, and it’s nearly useless for anything other than converting to some international currency. Outside of illegally purchasing highly-regulated goods or paying criminals to decrypt your computer, it has fewer merchants accepting it than Amex. Furthermore, proof-of-work blockchains are an enormous waste of electricity and needlessly stupid contributor to global warming.
It’s actually bad for the purposes you listed because of the blockchain being an immutable multiple ledger system of transactions, criminals who use it find themselves unable to launder it unless converting it to another currency or currencies, such as the dutch shuffle where they move USD to banks in Europe then back to the USA.
BTC is PoW and it has cost a lot of power, that is true, but there are diminishing returns on that which make it uneconomic in many regions where the power costs outweigh the returns. You can use it as a currency without doing any mining yourself.
Also, literally every currency’s value is based entirely on speculation as an investment opportunity. USD is propped up by foreign banks buying up bonds and reserves, stores only accept payments in the assumption that the value of the dollar will cover more than the cost to sell those goods in the first place.
All money is fake. One money isn’t more or less fake than the other.
Cool meme and all, but the fact that you yourself are talking about when someone should or shouldn’t invest in bitcoin just proves my point. That’s the opposite of stability. People don’t regularly move their savings from dollars to euros and back depending on which is worth more.
Good for you for getting rich on your investment opportunity though. I’m sure that’s very nice for you.
You couldn’t find the point if it was layed out cleanly before you, as I clearly explained it is not currently what it very easily could become, and also that it is virtually no long term risk even in its current state.
Yes, I know, you expect a pyramid scheme where somehow magically enough people invest in bitcoin that it no longer is an investment opportunity and it becomes a currency.
At which point, all the people who used it as an investment opportunity and don’t care about the whole ideology behind it dump it and switch to a different investment opportunity.
Lmao, wut?
Either you don’t understand what pyramid scheme means of you think theres some tiered shadow organization promoting bitcoin. Either way you’re an idiot.
It was a metaphor, but since you’ve decided that you can make credible pro-bitcoin arguments with memes and insults, I don’t think we need to go further.
With how fervent the guy is about arguing for the stability and benefits of Bitcoin, I suspect he has a sizeable investment in it.
With the way you defend the USD, I suspect you have a sizeable investment in it.
I think you’re misinterpreting my distain for cryptocurrency as support for USD. Both of them can collapse and I wouldn’t be upset about it at all.
You say that as if there is any alternative. There is already one major decentralized currency used around the world, like it or not.
I can’t even mock you for choosing the alternative because there isn’t any.
The lack of denial and deflection when accused of holding a sizable investment in it is very telling.
Besides that, calling it a currency is a joke. Its value is based entirely on speculation as an investment opportunity, and it’s nearly useless for anything other than converting to some international currency. Outside of illegally purchasing highly-regulated goods or paying criminals to decrypt your computer, it has fewer merchants accepting it than Amex. Furthermore, proof-of-work blockchains are an enormous waste of electricity and needlessly stupid contributor to global warming.
Wholeheartedly, fuck Bitcoin.
It’s actually bad for the purposes you listed because of the blockchain being an immutable multiple ledger system of transactions, criminals who use it find themselves unable to launder it unless converting it to another currency or currencies, such as the dutch shuffle where they move USD to banks in Europe then back to the USA.
BTC is PoW and it has cost a lot of power, that is true, but there are diminishing returns on that which make it uneconomic in many regions where the power costs outweigh the returns. You can use it as a currency without doing any mining yourself.
Also, literally every currency’s value is based entirely on speculation as an investment opportunity. USD is propped up by foreign banks buying up bonds and reserves, stores only accept payments in the assumption that the value of the dollar will cover more than the cost to sell those goods in the first place.
All money is fake. One money isn’t more or less fake than the other.