90 Years Ago Today. Bitcoin Fixes This. Bitcoin is Part of the Plan.
(media.greatawakening.win)
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Bitcoin. Literally backed by nothing... except ether and fantasy. Only 2 things worth anything ever: 1) Skilled labor 2) Things that come out of the ground. No exceptions.
Commodities don't need backing, they have value in itself because of limited supply, industrial use and other properties. If you think Gold is valuable just because it's shiny and you can touch it then you don't understand value.
Backing is what they tell retards when running fractional reserve banking. In fact, take my shit from today, and let's say it has value because "it's backed by gold", sounds goo to you? good, next morning I take another shit.
Now there's twice as much shit, but the same amount of gold, the value of your holdings just halved because I took half of it, without even touching my shit because I still hold the gold.
I have a limited supply of trading cards I just made myself. Because there are only 5, by your logic that makes them valuable… Scarcity doesn’t by itself make things valuable, people wanting them makes them valuable; the tiniest supply in the world doesn’t matter if there is no demand.
Also, no one is saying modern dollars are backed by gold, that ended when we came off the gold standard years ago. They’re talking about holding real gold, so the only way the supply can double is by mining double the amount of gold that has been mined from the beginning of human history until now…
Bitcoin is currently valued $28 000 per coin, with 19M coins in circulation. There falls your "lack of demand" argument.
I see retards every day making that claim. Then they get mad when I tell them to withdraw their gold.
Too bad people buy fake paper gold instead then. There seems to be a demand for convenience too which you ignore. Fake paper gold devalues gold.
Your response does not jive with the argument.
The claim was not made there to be NO demand for bitcoin. The claim was made in relation to the "just" scarcity argument. As always that is a question of market circumstances: demand and supply.
On top, the bitcoin value is manipulated the same way, Gold and silver is manipulated in terms of pricing. This was predicted when the question came around to allow for bitcoin futures and options.
There has been quite a lot written about USDT and the shenanigans going on with it. And basically, I could, with enough money, create artificial demand or supply depending on market circumstances, not to mention other creative strategies.
Technically, I am all for crypto, but then again, a totally different kind and I see the drawbacks of the current systems in terms of maintenance and access of most if not all current crypto-systems. That said, I think the current focus on crypto is a trap where we, the user, are the price (prison).
Correct. A better phrase would have been: I have not encountered someone claiming such and such, because, yeah, these retards indeed are there. That said: you can still buy Gold and silver with 1,5% (or less) leftover value of the original value of the Federal Reserve Note. It means, the bloody metal is dirt cheap.
It's actually backed by a proof-of-work. You'd know this if you had researched it all. Limited supply. Scarcity. Principles of sound money and economics.