Re: Harry on Bitcoin
Posted: Thu Jan 03, 2019 4:16 pm
I'm sensing a hint of Saifedean Ammous in the above comments....
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appears the above def was taken from Wikipedia....here is more taken from Wikipedia....."The paper currencies of some developed countries have earned recognition as hard currencies at various times, including the United States dollar, Euro, Swiss franc, British pound sterling, Japanese yen, and to a lesser extent, the Canadian dollar and Australian dollar. "Ad Orientem wrote: ↑Fri Dec 21, 2018 2:23 pmHard Money: (def) Hard currency, safe-haven currency or strong currency is any globally traded currency that serves as a reliable and stable store of value.
Absolutely! I even linked to his book.gaddyslapper007 wrote: ↑Thu Jan 03, 2019 4:16 pmI'm sensing a hint of Saifedean Ammous in the above comments....
Define "track record"?....if thousands of years agreed value / worth is what your implying, well you've admitted you'll never consider it. If you'll consider Market Cap then we only need a price ~$40K per coin to reach 1/10th of the high estimation of Gold's total market cap. Is that a quantifiable measurement? Its a measurement of the collective "Alive" people & governments perceived value & worth currently....no? (You can’t sell gold to dead people...so history really doesn't matter)Libertarian666 wrote: ↑Fri Dec 21, 2018 12:44 pmAs soon as Bitcoin has 1/10th the track record of gold, I'll consider it. Until then, it's basically like a Beanie Baby... only you can't even see it.
Bitcoin isn't any kind of money. It is an absurd speculative instrument relying on the "greater fool" theory.gaddyslapper007 wrote: ↑Fri Jan 04, 2019 9:30 amDefine "track record"?....if thousands of years agreed value / worth is what your implying, well you've admitted you'll never consider it. If you'll consider Market Cap then we only need a price ~$40K per coin to reach 1/10th of the high estimation of Gold's total market cap. Is that a quantifiable measurement? Its a measurement of the collective "Alive" people & governments perceived value & worth currently....no? (You can’t sell gold to dead people...so history really doesn't matter)Libertarian666 wrote: ↑Fri Dec 21, 2018 12:44 pmAs soon as Bitcoin has 1/10th the track record of gold, I'll consider it. Until then, it's basically like a Beanie Baby... only you can't even see it.
Regarding Beanie Baby,....is this even an argument? Have you really compared the two in your mind? Again, gold is more similar to pet rocks and beanie baby's if you'd be honest with yourself. I'm open to hear ideas, comparisons, rebuttals, ….you've taken time to write the things quoted above.....surely you've evaluated your views and opinions and not simply regurgitated headline opinions of the uninformed.
Bitcoin (the design) is the best form of money ever invented from every measurable angle except one, which I will agree is the MOST important!...and CANNOT simply be designed in. That is “peoples acceptance”….your gold, dollar, whatever is worthless if people decide not to accept it. Bitcoin lacks acceptance / value / worth in the mass majority of Peoples minds. But this acceptance has been growing over the last 10 years, this cannot be denied. To encourage acceptance...by design it is deflationary (price appreciation), with acceptance it will become more and more stable pricing wise.
I guess it doesn’t really matter what anyone “calls” it or refuses to call it, it does what it does and is what it is.Libertarian666 wrote: ↑Fri Dec 21, 2018 12:44 pm
Bitcoin isn't any kind of money. It is an absurd speculative instrument relying on the "greater fool" theory.
But by all means keep HODLing, and to quote a great philosopher: "[Y]ou'll go home in a barrel."
I don’t know your business nor geographic location. But if you live in Venezuela, Cypress, China, Argentina, etc. then capital controls, runaway inflation and asset forfeiture would be problems. Bitcoin wasn’t built for Americans....it was built for anyone who its appreciates it’s attributes.boglerdude wrote: ↑Sun Jan 06, 2019 12:12 amWhat problem do I have that crypto is solving. Tax avoidance? technov, you should be supporting it then =)
Yes, I guess if you lost most of your assets by investing in the "sure thing" of Bitcoin, you would have a great tax avoidance scheme!boglerdude wrote: ↑Sun Jan 06, 2019 12:12 amWhat problem do I have that crypto is solving. Tax avoidance? technov, you should be supporting it then =)
I cant know your situation and how Bitcoin might benefit you, but here are some examples of what people are using Bitcoin for. I am not claiming Bitcoin is a perfect solution for each of these uses cases, but that this is what people can and are using it for.boglerdude wrote: ↑Sun Jan 06, 2019 12:12 amWhat problem do I have that crypto is solving. Tax avoidance? technov, you should be supporting it then =)