I appreciate your sincere response, and so I’ll give you my sincere response back on those points, and you can do with it what you like:
Bitcoin is actually losing ground to the dollar, not simply losing value because it is a dollar-denominated asset. And then it is not just losing nominal value in exchange to the USD, but that loss against the dollar must then be further compounded by the ongoing devaluation of the dollar itself.
“the value inherent in a good cryptocurrency is trust.” I’m sorry for the bluntness, but that is patently the language of a con artist peddling something that has no intrinsic value. I’m sure you heard it somewhere and thought it sounded reasonable; understand that it’s not. It’s transparent sophistry. Now that’s not to say that trust isn’t a critical factor in assessing value, but the calculus here is critical: people don’t pay for “trust”, they pay for value, and will prudently discount from that value according to their level of trust. But even in an environment of perfect trust (trust = 100%), if intrinsic value = 0, 0 x 1.00 = 0. “Trust” importantly functions as a coefficient in valuation, but not at all as a source of exchangeable value. And what’s the underlying value of a “Bitcoin”? Oh, you know.
Sorry man but you’re actually wrong. You can’t cheat math. Go read the Bitcoin whitepaper and then tell me again that there’s no “value” there. https://bitcoin.org/bitcoin.pdf
It’s not like USD has intrinsic value like you’re suggesting - it’s just backed by the Fed and inflating terribly. Bitcoin will never be controlled like that by independent parties.
What? Nothing in that white paper addresses, much less refutes, my clear points.
So why don’t you try? 🤔
You can’t, because you can’t.
And then “the math”?!? My goodness, you sound exactly like the nut jobs citing “the science” to gaslight transparent lies about the climate and Covid.
There’s no math that allows your magical coins to keep going up in price when no value is created, and when the early entrants have been continually pulling money-for-nothing out of the system (aside from that conspicuous tranche of zero-cost tokens that zealots love to point to to claim that early entrants have not been converting out to real assets all along, funded by “greater fool” entrants recruited by the trademark fraudulent “money for nothing, look at all the money others have made” tactics of pyramid schemes).
As an intermediary currency, great, fine.
As an “investment” or a store of value? Absolutely insane. It’s a fundamentally worthless, scam-patterned, guaranteed-GTZ proposition.
Your “points” are little more than rambling garbage and you use a lot of buzz words and name calling when you clearly don’t even understand how Bitcoin works. You’re either a shill, or a doomer, or both and I shouldn’t even bother replying — but otherwise you’d be shouting into an echo chamber.
And you can’t respond to clear arguments because, uh, “buzzwords”? 🤨
Just terrible, man.
But whatever - every absurd asset in history bubble has popped, sending the asset down to roughly its intrinsic value (in this case, precisely zero) and rendering itself a cautionary tale, painful to the bag-holding fools in the moment, and laughably incomprehensible in distant hindsight… every absurd asset bubble, except this one? Fella, that’s what they all say.
Just don’t blame it on “them” when the most obvious, and most hyped, asset bubble in history does exactly what they all do.
I appreciate your sincere response, and so I’ll give you my sincere response back on those points, and you can do with it what you like:
Bitcoin is actually losing ground to the dollar, not simply losing value because it is a dollar-denominated asset. And then it is not just losing nominal value in exchange to the USD, but that loss against the dollar must then be further compounded by the ongoing devaluation of the dollar itself.
“the value inherent in a good cryptocurrency is trust.” I’m sorry for the bluntness, but that is patently the language of a con artist peddling something that has no intrinsic value. I’m sure you heard it somewhere and thought it sounded reasonable; understand that it’s not. It’s transparent sophistry. Now that’s not to say that trust isn’t a critical factor in assessing value, but the calculus here is critical: people don’t pay for “trust”, they pay for value, and will prudently discount from that value according to their level of trust. But even in an environment of perfect trust (trust = 100%), if intrinsic value = 0, 0 x 1.00 = 0. “Trust” importantly functions as a coefficient in valuation, but not at all as a source of exchangeable value. And what’s the underlying value of a “Bitcoin”? Oh, you know.
Cheers, fren.
Sorry man but you’re actually wrong. You can’t cheat math. Go read the Bitcoin whitepaper and then tell me again that there’s no “value” there. https://bitcoin.org/bitcoin.pdf
It’s not like USD has intrinsic value like you’re suggesting - it’s just backed by the Fed and inflating terribly. Bitcoin will never be controlled like that by independent parties.
What’s naive about this? u/BasedInFact is implying that ideas don’t have any intrinsic value. The economy of Supply and demand says otherwise.
What? Nothing in that white paper addresses, much less refutes, my clear points.
So why don’t you try? 🤔
You can’t, because you can’t.
And then “the math”?!? My goodness, you sound exactly like the nut jobs citing “the science” to gaslight transparent lies about the climate and Covid.
There’s no math that allows your magical coins to keep going up in price when no value is created, and when the early entrants have been continually pulling money-for-nothing out of the system (aside from that conspicuous tranche of zero-cost tokens that zealots love to point to to claim that early entrants have not been converting out to real assets all along, funded by “greater fool” entrants recruited by the trademark fraudulent “money for nothing, look at all the money others have made” tactics of pyramid schemes).
As an intermediary currency, great, fine. As an “investment” or a store of value? Absolutely insane. It’s a fundamentally worthless, scam-patterned, guaranteed-GTZ proposition.
Your “points” are little more than rambling garbage and you use a lot of buzz words and name calling when you clearly don’t even understand how Bitcoin works. You’re either a shill, or a doomer, or both and I shouldn’t even bother replying — but otherwise you’d be shouting into an echo chamber.
So, project much? 😂🤣
And you can’t respond to clear arguments because, uh, “buzzwords”? 🤨
Just terrible, man.
But whatever - every absurd asset in history bubble has popped, sending the asset down to roughly its intrinsic value (in this case, precisely zero) and rendering itself a cautionary tale, painful to the bag-holding fools in the moment, and laughably incomprehensible in distant hindsight… every absurd asset bubble, except this one? Fella, that’s what they all say.
Just don’t blame it on “them” when the most obvious, and most hyped, asset bubble in history does exactly what they all do.
Good comment!
No, hes literally a retard and that's a stupid comment.
Indeed, a very stupid comment.