glennds wrote: ↑Mon Aug 23, 2021 1:59 pm I have a foot in each camp, I'm probably 75% long under store of value theory, and 25% trading the volatility as a shameless speculator.

People are speculating on Bitcoin's store of value (and resulting monetization).

Does "monetary-like assets" put a better label on it? Or you basically only going to accept government issued currencies, a unit of account focus, as "money" (the 3 year olds understanding of money)? I think it’s actually very helpful to start referring to them as monetary asset...

I think gold and bitcoin are stores of value. Gold, paintings by a favored dead artist, etc. are finite/scarce and as such tend to store value. When one is selling to raise cash/money another with surplus capital looks to buy. Bit coin scarcity is virtual/manufactured, could vanish overnight. Bit c...

It seems to me that the biggest risk is that this fad will pass over, just like tulip bulbs and Beanie Babies. A hunk of shiny metal as opposed to 1110001? Not even a question as to which one is real. "1110001? Worthless. 1110011? Now THERE'S a number! Have some actual goods and services!"...

What can you use it for besides selling it to someone else? I've wondered this for a long time. This is basically one definition of money. Something like "The most saleable goods are the likeliest to become used as a medium of exchange and eventually emerge as the money." from Menger / Au...

I’m tired of people saying gold or bitcoin is money. What is the point of using the term money anyway given that everything we use is just a proxy for a theoretical concept. Words are hard sometimes but they are all we got. What would you like to call things like gold and bitcoin? Just assets? Its ...

Other than quibbling about the definition of money, do you have a disagreement with the fact that bitcoin is taking up an ever increasing amount of the worlds wealth (store of value)? And do you think Bitcoin has followed the trajectory outlined in this chart so far? https://pbs.twimg.com/media/Di95...

Time value of money is a fiat concept. It does not exist as a law of nature….only in a fiat economy. In all honesty I’m not against the fiat economy….to me, hold debt in fiat and wealth in BTC. It’s the perfect recipe! Time value of money is a human fact and has nothing to do with fiat, its directl...

I just don't think BTC out-gold's gold any more than an apple out-oranges an orange even though they're both fruit. But if an investor decides for their own reasons to shift from apples to oranges staying within the fruit family, it's not for me to say they're wrong. You mentioned overlap right? So...

The TIME magazine market top indicator is getting very close. It isn't a cover yet but at this rate I expect bitcoin to be on the cover this year. https://www.thestreet.com/crypto/bitcoin/time-magazine-to-hold-bitcoin For reference housing indicator https://ritholtz.com/2005/06/uh-oh-time-magazine-...

What i meat by "use" I shrugged was....if i want to buy or sell something using bitcoin instead of dollars or Euros for some reason, can't i just buy and sell the bitcoin practically at the same time? If the only use for bitcoins or satoshis is transferring ownership of them, what is the ...

The main difference between gold and bitcoin is a bitcoin has no practical use. What is a "use" compared to a "practical use"? Sending a bearer asset over the Internet seems like both a use and a practical use? It doesn't have physical properties and it doesn't "do" an...

Is there even one person on earth that could use 300,000 satoshis? This does not sound like something that is scare to me so i must be missing something. Replace satoshis with pennies/dollars/etc and you can see how strange this argument is. "Is there even one person on earth that could use 30...

Cost to produce does not confer value, intrinsic or otherwise. Agreed. Individuals assign value based on their preferences. Value is either intrinsic or extrinsic. Obviously bitcoin has no extrinsic value. A bitcoin cannot be used to do anything. Unless someone else is willing to trade you somethin...

At some point Bitcoin will be fully monetized and its value will plateau. Along with it volatility. I think we are a ways away from that. It is hard to say how much money needs to come in to Bitcoin move the price a certain amount. Especially with Bitcoin's inability to create more coins in response...

I get the parallels you try to draw between the two but I think they are somewhat tenuous when comparing a store of value with 6000 years of history and another highly volatile and speculative asset that few understand with a little more than a decade of history. The hype on internet is powerful, b...

A lot of the speculative easy money has also already piled in. It takes a certain type of individual to be attracted to this roller coaster. At some point the trajectory starts to grind to a much slower pace....the question is at that point how many of these individuals will jump ship for the next ...

The biggest danger to bitcoin is I don't really care. In the same way I didn't care about beanie babies, or pokemon cards, or whatever the latest greatest thing is. That's how the sizzle becomes a fizzle. It doesn't take anything dramatic, just simply a bunch of disinterested individuals. Maybe I'l...

Remember when Bitcoin had that huge run-up to $20k and crashed back down to $4k? Then some professors at University of Texas and Ohio State did a bunch of research and found the entire run-up was caused by just 1 large investor? Ive been pretty deep in the space for a while and am not familiar with...

Well, if we want to review it as a venture capital investment, we will want to know what its distinct competitive advantage is. One of the most important questions a venture capitalist will ask is "Can the technology easily be replicated by a competitor?" This is where everything really t...

Thank you for your perspective. I keep asking myself “what if”? What if Bitcoin is legitimate even with all the challenges outlined to owning and transacting. What if... I have .60% of investable assets in Bitcoin to answer all the what ifs... People seem to think that somehow bitcoin can operate t...

People seem to think that somehow bitcoin can operate the same way as internet piracy. But internet piracy has only a few entities that want it stopped (not like the masses that benefit from wealth redistribution). Internet piracy provides the END PRODUCT in an anonymous form (the movie, software, ...

Sorry everyone, but this is probably going to sound pretty harsh... I strongly believe that, for many people here, the PP is akin to Alcoholics Anonymous. People walk in the door and are given a set of “rules” to keep them from being a danger to themselves. HB knew that once you are a junkie, you w...

2. A new coin is created that makes better use of the processing power. Something that also gives it a higher purpose that would cause people to always prefer it even if growth iniatally seemed lower. There are many such coins. And that is the basis of the argument that I posted in video. Bitcoin w...

rewarding individuals (and now large institutional money) for speculation instead of productive labor output into our economy Bitcoin is a savings technology. It’s meant to be money and money is a place for savings. In our recent modern times we forget that since our currency is constantly devalued...