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.
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.