My .. large issue with bitcoin, and other non backed cryptos.. it's still a fiat currency. there is nothing backing it.
and it's always sold , as if it isn't. the people that promote it, they always say "well there's a fixed amount of bitcoin, therefore it's limited. but the reality is, that doesn't matter, just because something is scarce doesn't make it valuable, or intrinsically worth anything. and it's all a lie anyway for two reasons, , it's nearly infinitely divisible (just like the fiat dollar) and anyone ANYONE, can make their own cheap crypto and put it on the market. , you cannot do that with gold, , in order for crypto to be worth anything, and become a good currency, it has to be backed by something in real life.
bitcoin is not the savior of the world,, pretty much just the opposite so far, you say the US dollar has been used for all these crimes, so is bitcoin. explain to me how Bitcoin stops any of it? because so far it's just been used as pump and dumps, and manipulations
there is a REASON, these assholes got rid of Gold, . it didn't let them steal as easily.
I sure wouldn't trade gold for bitcoin but you can buy gold with bitcoin and a couple other crypto. So if that becomes more common I could get on board.
That's how it failed. Woodrow Wilson, FDR, and Nixon killed it.
that isn't a Fail, that's deliberate maleficence.
My .. large issue with bitcoin, and other non backed cryptos.. it's still a fiat currency. there is nothing backing it. and it's always sold , as if it isn't. the people that promote it, they always say "well there's a fixed amount of bitcoin, therefore it's limited. but the reality is, that doesn't matter, just because something is scarce doesn't make it valuable, or intrinsically worth anything. and it's all a lie anyway for two reasons, , it's nearly infinitely divisible (just like the fiat dollar) and anyone ANYONE, can make their own cheap crypto and put it on the market. , you cannot do that with gold, , in order for crypto to be worth anything, and become a good currency, it has to be backed by something in real life.
bitcoin is not the savior of the world,, pretty much just the opposite so far, you say the US dollar has been used for all these crimes, so is bitcoin. explain to me how Bitcoin stops any of it? because so far it's just been used as pump and dumps, and manipulations there is a REASON, these assholes got rid of Gold, . it didn't let them steal as easily.
edit pardon the run ons.
No, it's not a fiat currency. A fiat currency is one that exists through fiat - decree.
a semantic argument, that doesn't change the fact that bitcoin isn't backed by anything... which is the point.
I sure wouldn't trade gold for bitcoin but you can buy gold with bitcoin and a couple other crypto. So if that becomes more common I could get on board.