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.
We do agree on some things - I agree with portions of your statements ("no one single currency") or paper backed with gold, but doubtful that will be dollars unless out of necessity and belatedly. There is no indication whatsoever that USG has any motives or intentions to move beyond fiat scam until the car is completely off rails.
I disagree with your assessment on this being the only desirable reason to own Bitcoin and I have said as much. You can't convince me of that because it isn't the only reason I personally would want to hold Bitcoin, so I know this is not universally true.
Bitcoin doesn't need external legitimacy, but it will and has been receiving it anyway. The dollar is trash and it's a matter of time, but that has always been true since it was decoupled from real money. There is no future in faith fiat.
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.
We do agree on some things - I agree with portions of your statements ("no one single currency") or paper backed with gold, but doubtful that will be dollars unless out of necessity and belatedly. There is no indication whatsoever that USG has any motives or intentions to move beyond fiat scam until the car is completely off rails.
I disagree with your assessment on this being the only desirable reason to own Bitcoin and I have said as much. You can't convince me of that because it isn't the only reason I personally would want to hold Bitcoin, so I know this is not universally true.
Bitcoin doesn't need external legitimacy, but it will and has been receiving it anyway. The dollar is trash and it's a matter of time, but that has always been true since it was decoupled from real money. There is no future in faith fiat.