Your logic is wrong because of simply this. The dollar is based on “value” and this plan involves backing currency with gold and not Magic fairy dust coins. We already have online transactions, so ask yourself what in the world is bitcoin a benefit over? It’s yet another fake currency. There has to be something of value represented ongoing. If not machines will always go brrrrrrrrrr and create more debt enslaving is all forevermore.
Yeah, because people of the world are gonna adopt a new currency backed by nothing that is already almost all mined out wholly owned by 5% of the population already with a good percentage who made it trafficking humans and drugs......
Oh? What's it backed by? Hugs and confidence? Lol!
And let me ask you this. Let's say we switch our currency to bitcoin. Well now we have enslaved everyone to the 5% of the world's people who have it right?
As an average citizen how do I get bitcoin to feed my family? Work for those with the bitcoin? Sell everything I own for bitcoin?
How do your 'fundamentals' explain that? If you still think that's smart then I have an excel ledger that I am willing to part with cells a-af and records 55-3000 at only 500 bucks a pop. That's a big discount over Bitcoin.
Let me know if you are interested. They are going quick.
There's nothing preventing you from changing your excel ledger, however bitcoin is the most secure computer network in existence and that ledger cannot be modified by some central party (you, the fed, whoever).
Your ledger isn't being verified in real time on any protocol by decentralized parties with a mechanism in place ensuring rules are being adhered to.
If you really want to argue that it's backed by nothing I ask you what is the dollar backed by? With bitcoin you can at least calculate the electricity and processing power used to create it. Forget the speculative value for a moment and on that alone it's already "harder" than any major fiat currency.
Due to the way the network adjusts difficulty, and halves the mining reward periodically, it is not feasable to mint new bitcoin at a faster rate than intended (~10mins). This means no matter how small or large the network gets, we won't run out of bitcoin to mine for a LONG time.
Lol that’s not how it works. The gold is stored and you are issued a certificate (paper or electronic) to use. Dudes won’t be rolling up with a sack of coins to buy a number one a mcds. This will establish a true value that isn’t devalued based on the desires of others but rather fact and substance.
You do realize that no money means no money right? Bitcoin has a value because people say it does and only that reason. 401k’s are often diversified in many companies that can crash sure, but you can’t live life waiting on that. Not that you shouldn’t prepare but rather you can’t control it. The 401k should always be savings for later in life, in your description again no money is no money so what does it matter where it was lost? I will say however that for centuries gold has been a currency and has a great chance of still doing so. However if it is mad max barter will be the currency just like it’s always been when people are out of money.
Your logic is wrong because of simply this. The dollar is based on “value” and this plan involves backing currency with gold and not Magic fairy dust coins. We already have online transactions, so ask yourself what in the world is bitcoin a benefit over? It’s yet another fake currency. There has to be something of value represented ongoing. If not machines will always go brrrrrrrrrr and create more debt enslaving is all forevermore.
That's not how BTC works but okay. Go buy Au and Ag, just as good.
Better
have fun staying poor
Yeah, because people of the world are gonna adopt a new currency backed by nothing that is already almost all mined out wholly owned by 5% of the population already with a good percentage who made it trafficking humans and drugs......
Riiiiiiiggghhhhhtttt,,,,,,,
your lack of fundamental understanding is showing. backed by nohing? please.
mined out wholly? okay, now you really don't understand.
oh yeah great point....criminals/ human traffickers and drug dealers NEVER user use cash USD lol fucking clown
Oh? What's it backed by? Hugs and confidence? Lol!
And let me ask you this. Let's say we switch our currency to bitcoin. Well now we have enslaved everyone to the 5% of the world's people who have it right?
As an average citizen how do I get bitcoin to feed my family? Work for those with the bitcoin? Sell everything I own for bitcoin?
How do your 'fundamentals' explain that? If you still think that's smart then I have an excel ledger that I am willing to part with cells a-af and records 55-3000 at only 500 bucks a pop. That's a big discount over Bitcoin.
Let me know if you are interested. They are going quick.
There's nothing preventing you from changing your excel ledger, however bitcoin is the most secure computer network in existence and that ledger cannot be modified by some central party (you, the fed, whoever).
Your ledger isn't being verified in real time on any protocol by decentralized parties with a mechanism in place ensuring rules are being adhered to.
If you really want to argue that it's backed by nothing I ask you what is the dollar backed by? With bitcoin you can at least calculate the electricity and processing power used to create it. Forget the speculative value for a moment and on that alone it's already "harder" than any major fiat currency.
Due to the way the network adjusts difficulty, and halves the mining reward periodically, it is not feasable to mint new bitcoin at a faster rate than intended (~10mins). This means no matter how small or large the network gets, we won't run out of bitcoin to mine for a LONG time.
have fun staying poor
But but men bitcoins decentralized...
Derrr.....
Lol that’s not how it works. The gold is stored and you are issued a certificate (paper or electronic) to use. Dudes won’t be rolling up with a sack of coins to buy a number one a mcds. This will establish a true value that isn’t devalued based on the desires of others but rather fact and substance.
You do realize that no money means no money right? Bitcoin has a value because people say it does and only that reason. 401k’s are often diversified in many companies that can crash sure, but you can’t live life waiting on that. Not that you shouldn’t prepare but rather you can’t control it. The 401k should always be savings for later in life, in your description again no money is no money so what does it matter where it was lost? I will say however that for centuries gold has been a currency and has a great chance of still doing so. However if it is mad max barter will be the currency just like it’s always been when people are out of money.
Why are you typing in all caps?
Gold is never useless.
Who has gold?
AU! Give me back my gold.
US federal reserve. And LOTS of it.
But everyone has bitcoin?
I would have bought gold or silver.
I did :)
Do you know who else loves gold? DJT.
Technically you do. Electronics are riddled with specks of gold.
Just saying Gold will never be a useless currency. It will always have value. I just gave you an example why: Electronics.
Your 401k was based on companies shorting gamestop?
You work for a comic book/video game trading shop.or something?
Removed Welcome back troll. And goodbye.