Centralization is not what makes money sound or not lol
Ffs the Us treasury under the constitution centralized control over gold and silver and that wasn’t the issue
If you think decentralization == manipulation you do not understand the nuances of economics, exchange and trade.
It is centralized under computer code, manipulated by humans, and subject to energy. Imagine thinking energy prices and chips don’t control crypto lololol.
If you don’t hold it, you don’t own it. You never really hold crypto. Just a bunch of shit outside of your control which can change at any time.
You realize no one actually knows who actually released Bitcoin, right? It is subject to speculation and pump and dump exactly like fiat. It is not an inherently honest accounting of production as metals are. Crypto is fiat 2.0, regardless if people trade it and make profit on its speculation. It holds zero intrinsic value. It is not immediately fungible just like paper money, whereas it depends on other tech and resources in addition to agreement to arbitrary rules like paper money. Its scarcity is arbitrary. Its a bigger fraud than paper, just far more obfuscated.
No. It really doesn’t. You believe it does because you want to believe that and will never explain how in specific and concrete terms because that is not true. And the “decentralization” of crypto is an obvious illusion. It can be manipulated all the same Very easily because of networked computers. Not the sale as individuals physically holding material. Ffs Musks pump and dumps didnt teach you idiots lol.
It doesn't matter who made Bitcoin, even if they showed up tomorrow they couldn't seize your assets on that network. One of the core values is the immutability and portability, this will propel it to unimaginable heights in a word increasingly awash in fake paper. Bitcoin will continue to persist while naysayers dismiss it with little cause. They have been for 12 years, they were wrong then and wrong now. Unsurprisingly, they will continue to be wrong.
Gold and silver certainly are money, but Bitcoin has it's place in the future, as do decentralized and anonymous or obfuscated coins.
The world is returning to market money and that will take a variety of forms.
Its very dependence on electronics and energy to remain in storage or to be transferred violates one of the core principles of pure money lol. It has no inherent value of its own and cannot thus remain a reliable store of value. Metals remain a store of value when demand for reserves are zero. Bitcoins entire value lies in demand for reserves which is diametrically opposed to the definition of sound money. The value of metal remains the same even if price in currency changes over time. A weight of metal still retains the same buying power in trade for other goods over time despite pricing in currency. Bitcoin is inherently speculative.
You think that's where Bitcoin's demand lies, but you are mistaken to start.
I agree with you about metals, but Bitcoin is not inherently speculative. Buy all the gold you want, it won't make Bitcoin go away. And don't misunderstand me, Bitcoin is not going to make gold go away. Gold is about to make a big comeback in a way that's going to blind side most people. It's just that Bitcoin is coming along for the ride, in fact it's in the same car as the PMs.
The bottom line is it seems that we disagree and that's fine, everyone's available to pursue their own strategy. I don't wish ill luck upon anyone.
Anything which derives its entire value purely from demand for reserve of value IS inherently speculative because its value is volatile and unstable over time.
Bitcoin will never be legitimized outside the parallel economy and can never be sound money. Only a speculative currency which has the same issues as fiat. BRIC basket and dollar backed by gold is the future. No one single currency will ever have reserve status again, let alone without hard reserves behind it. It will be metals as corresponding accounting for productivity.
Bitcoin is not backed by metals, guns or productivity. Let alone the dollar which is no longer backed by either.
Except it will be, and currently is in several countries. I also hold my bitcoin in a physical wallet and you can never take that from me. I use it to buy online, I use it to pay other people. I use crypto in 90% of my exchanges in life and yet its not money. Just like China, our government wants to take something that allows people without banks to make and distribute money and make it their own. By eliminating mining and trade these countries show the inherent threat bitcoin posesses. You speak as if there is some form of money that isn't inherently corrupt. You sound like someone who had bitcoin and sold it for a tub of ice cream. Crypto, not just bitcoin especially when we get into open sourced and defi, or better yet DAOs, and even more so web3, is for the people and by the people, our government is not involved. They want taxes from it. Learn to harbor. Everything you said describes the stock market and your knowledge of crypto is lacking. Bitcoin is not crypto and crypto is not bitcoin. My amount has never changed, I've made more from staking, farming and verifying transactions, but I've never seen my values randomly changed. Speak out your ass all you want but crypto is my future until we get solar fucked and knocked back to the stone age when no currency but bullets matter. I want you to show me how coins that are open-source with renounced contracts and ownership are subject to manipulation. If you say the prices fluctuate, its called a market. It's volatile and it's limitations are unknown but for the people that choose to use it as much as possible it's a way to get rid of dollar bills. I hold my savings in usdc and earn 10% interest. Using a debit card with usdc with my purchases. I stake ICOs and collect bnb from it. And stable coins are backed by something even if it is another fiat. But China and America want to corner the market with their own coins.
Lol I’m a cash only kind of guy. I don’t need my checking account for much. I’m ~35 and my 3000 sq ft house is already paid for. My Jeep is paid for. My car is paid for. But lets flex bro.
Centralization is not what makes money sound or not lol
Ffs the Us treasury under the constitution centralized control over gold and silver and that wasn’t the issue
If you think decentralization == manipulation you do not understand the nuances of economics, exchange and trade.
It is centralized under computer code, manipulated by humans, and subject to energy. Imagine thinking energy prices and chips don’t control crypto lololol.
If you don’t hold it, you don’t own it. You never really hold crypto. Just a bunch of shit outside of your control which can change at any time.
You realize no one actually knows who actually released Bitcoin, right? It is subject to speculation and pump and dump exactly like fiat. It is not an inherently honest accounting of production as metals are. Crypto is fiat 2.0, regardless if people trade it and make profit on its speculation. It holds zero intrinsic value. It is not immediately fungible just like paper money, whereas it depends on other tech and resources in addition to agreement to arbitrary rules like paper money. Its scarcity is arbitrary. Its a bigger fraud than paper, just far more obfuscated.
Crypto will never be money. Only currency.
Well said.
TY
Those are lots of "lol's" and wasted words for someone who missed the point.
Decentralization offers less corruptibility.
No. It really doesn’t. You believe it does because you want to believe that and will never explain how in specific and concrete terms because that is not true. And the “decentralization” of crypto is an obvious illusion. It can be manipulated all the same Very easily because of networked computers. Not the sale as individuals physically holding material. Ffs Musks pump and dumps didnt teach you idiots lol.
It doesn't matter who made Bitcoin, even if they showed up tomorrow they couldn't seize your assets on that network. One of the core values is the immutability and portability, this will propel it to unimaginable heights in a word increasingly awash in fake paper. Bitcoin will continue to persist while naysayers dismiss it with little cause. They have been for 12 years, they were wrong then and wrong now. Unsurprisingly, they will continue to be wrong.
Gold and silver certainly are money, but Bitcoin has it's place in the future, as do decentralized and anonymous or obfuscated coins.
The world is returning to market money and that will take a variety of forms.
Its very dependence on electronics and energy to remain in storage or to be transferred violates one of the core principles of pure money lol. It has no inherent value of its own and cannot thus remain a reliable store of value. Metals remain a store of value when demand for reserves are zero. Bitcoins entire value lies in demand for reserves which is diametrically opposed to the definition of sound money. The value of metal remains the same even if price in currency changes over time. A weight of metal still retains the same buying power in trade for other goods over time despite pricing in currency. Bitcoin is inherently speculative.
You think that's where Bitcoin's demand lies, but you are mistaken to start.
I agree with you about metals, but Bitcoin is not inherently speculative. Buy all the gold you want, it won't make Bitcoin go away. And don't misunderstand me, Bitcoin is not going to make gold go away. Gold is about to make a big comeback in a way that's going to blind side most people. It's just that Bitcoin is coming along for the ride, in fact it's in the same car as the PMs.
The bottom line is it seems that we disagree and that's fine, everyone's available to pursue their own strategy. I don't wish ill luck upon anyone.
Anything which derives its entire value purely from demand for reserve of value IS inherently speculative because its value is volatile and unstable over time.
Bitcoin will never be legitimized outside the parallel economy and can never be sound money. Only a speculative currency which has the same issues as fiat. BRIC basket and dollar backed by gold is the future. No one single currency will ever have reserve status again, let alone without hard reserves behind it. It will be metals as corresponding accounting for productivity.
Bitcoin is not backed by metals, guns or productivity. Let alone the dollar which is no longer backed by either.
If we find out crypto is, in fact, fiat 2.0 and it crashes to irrelevance does it have enough clout to crash the world’s economies into a depression?
If it does, what do you think the white hats plan is for dealing with that or heading that off will be?
SILVER ENDS THE FED
WHITEHATS HAVE ALWAYS BEEN PUSHING SILVER SHORT SQUEEZE LOL
Except it will be, and currently is in several countries. I also hold my bitcoin in a physical wallet and you can never take that from me. I use it to buy online, I use it to pay other people. I use crypto in 90% of my exchanges in life and yet its not money. Just like China, our government wants to take something that allows people without banks to make and distribute money and make it their own. By eliminating mining and trade these countries show the inherent threat bitcoin posesses. You speak as if there is some form of money that isn't inherently corrupt. You sound like someone who had bitcoin and sold it for a tub of ice cream. Crypto, not just bitcoin especially when we get into open sourced and defi, or better yet DAOs, and even more so web3, is for the people and by the people, our government is not involved. They want taxes from it. Learn to harbor. Everything you said describes the stock market and your knowledge of crypto is lacking. Bitcoin is not crypto and crypto is not bitcoin. My amount has never changed, I've made more from staking, farming and verifying transactions, but I've never seen my values randomly changed. Speak out your ass all you want but crypto is my future until we get solar fucked and knocked back to the stone age when no currency but bullets matter. I want you to show me how coins that are open-source with renounced contracts and ownership are subject to manipulation. If you say the prices fluctuate, its called a market. It's volatile and it's limitations are unknown but for the people that choose to use it as much as possible it's a way to get rid of dollar bills. I hold my savings in usdc and earn 10% interest. Using a debit card with usdc with my purchases. I stake ICOs and collect bnb from it. And stable coins are backed by something even if it is another fiat. But China and America want to corner the market with their own coins.
I didnt read that lol.
Lol imagine thinking a digital wallet means you “own” or “hold” it. Fucking retarded hahahaha
My usdc is fdic insured, same as your weak ass checking acct
Lol I’m a cash only kind of guy. I don’t need my checking account for much. I’m ~35 and my 3000 sq ft house is already paid for. My Jeep is paid for. My car is paid for. But lets flex bro.
You don't get the difference between a crypto.com acct and cold wallet? Basic bitch
YOU DON’T GET WHY IT IS IRRELEVANT