All reasonable arguements. As you are implying here: Not all of the pieces are yet in place to allow Bitcoin to fully function as a currency as easily and fluidly as standard currency like a silver coin. The key questions to consider are: Does Bitcoin represent a store of value (dollar terms), and will it continue to increase in value (dollar terms) for logical, non-speculative reasons related to how it actually functions relative to the Bitcoin network (and hashrate)?
It does have value. The value is all of the energy consumed to create the Bitcoin, but also all the energy required to try and attack or hack the nodes and algorithm. This is represented by the hashrate. Hashrate keeps growing until it cannot be reasonably attacked by a single bad actor. We are already at the point where all Bitcoin miners and users worldwide would have to work together to pooling ALL of their energy to even try to attack the Bitcoin network. It appears to have reached a critical thresh-hold now, which allows for development of the rest of the mechanisms needed to turn it into a typical currency.
Bitcoin becomes worthless (temporarily?) if all of the world's energy grids AND every node of the internet gets destroyed at the same time (this is mathematically represented by the current hashrate). Given the power of nuclear weapons, this is not impossible now, but it will be very soon. Think about that. Even deployment of all the world's nuclear weapons simultaneously to destroy the Bitcoin network and world's energy grids will soon not be enough energy to fully stop it. It is a virtual SkyNET energy weapon system when fully deployed, but being deployed to save humanity rather than to destroy us. You may not fully understand this until you read section 5.10 of Softwar.
The value is all of the energy consumed to create the Bitcoin, but also all the energy required to try and attack or hack the nodes and algorithm.
This is a lie. This energy has no value. A thing has value if it is usable. In this case, all of that energy has already been lost to heat. It's all gone. It is non-usable energy. These arguments for Btc being "energy based" take a shit all over basic physics (specifically our ideas of entropy). ALL OF THE ENERGY REQUIRED FOR BTC IS USED UP!!!
It stores no energy. It stores no value. It is WORTHLESS except as a technology. But it is infinitely divisible (effectively). As a technology 0.0000001 Btc is just as valuable as 1,000,000 Btc. So as a technology, it has value. It can be used to create things, like say, a real asset backed currency (though there are better block chain techs than Btc, so it's really not a very good one in that regard). But it's value is not tied to the number that you have, thus it has no measure based intrinsic value.
We are already at the point where all Bitcoin miners and users worldwide would have to work together to pooling ALL of their energy to even try to attack the Bitcoin network.
This is an argument for it as a technology, not as a valueless currency.
Like everyone else, all of your arguments for Btc are either completely false, or are arguments for it as a technology. These arguments completely ignore the fact that it's usability as a tech is just as valuable no matter how much you have.
All non-asset backed currencies are worthless. We have been trained to believe in them. Once the scam is fully revealed, and we allow ourselves to have access to other means of economic exchange, not a single person will hold on to Btc et al. Not one. Why? Because it is a scam, pure and simple. Eventually that will be obvious to everyone.
It is not a currency yet. It is still tied only to energy because it must hit certain hashrate milestones as mining network and worldwide energy grid is built out, so it can’t be stopped.
It is a store of value priced in $ as hyperinflation destroys the $, but soon it will be obvious it is also a store of value when priced in gold. Silver will likely come later. This is what it is intended for right now. One alternative store of value, that’s it. (a life raft like gold, if you will). You are arguing about something that hasn’t happened yet.
You need to read Softwar. Bitcoin is not a scam, but all other cryptos may be depending on who controls them (there is only 1 proof-of-work crypto). Bitcoin is limited amount, but infinitely divisible. Its value grows over time as more energy is put into mining it and protecting the nodes. Most of the other cryptos were specifically created to program the public that “cryptos are a scam” while the Deep State hands out Bitcoin for bribes and uses it quite extensively now.
You can buy satoshis (100M satoshi per Bitcoin), but early adopters owning 1 Bitcoin now will very likely be new wealthiest 1% worldwide (for investing in humanity). You can also buy 1 share of MSTR stock and move to transfer agent to self-custody if you are not convinced it has any value. As a shareholder you might be convinced otherwise. MSTR is largest publicly traded holder of Bitcoin on balance sheet.
Space Force appears to be protecting the Bitcoin network “cyberspace” mining nodes as well as the StarLink parallel internet nodes. I don’t thing they would be doing that if Bitcoin was a “scam”
If there is enough bitcoins able to be mined for each person in the world to have one coin what would that coin be worth? Would it buy a house or a loaf of bread. Like how is the value of it not able to be manipulated? If I have 10 and you have none then one would hold a lot of value to you if you need to buy something and you would trade something of greater value to get the coin if you needed it to pay a bill or get something
Total Bitcoins will be 21M in the year 2140. You can buy satoshis (100M satoshi per Bitcoin), but early adopters owning 1 Bitcoin now will very likely be new wealthiest 1% worldwide (for investing in humanity).
Yes, it must eventually be used for everyday exchange in order to increase liquidity enough for everyone. They are very near this point in El Salvador, but most Corporations and State Gov’t in US are not accepting it. Some smart small biz operators and municipalities accept it as payment alternative. Your bread will be priced in satoshi and $ and possibly silver simultaneously at some point.
I was buying silver with Bitcoin because I believe it is the only thing more underpriced right now. I stopped and decided to try to accumulate 1 Bitcoin worth, expecting to be able to borrow against Bitcoin collateral asset at some point in the future.
Trading Paradox is that something viewed as too valuable will not be given up in trade for anything else unless it is just a tiny portion of the total “wallet”. This is happening slowly as Bitcoin price in both $ and gold terms increases.
All reasonable arguements. As you are implying here: Not all of the pieces are yet in place to allow Bitcoin to fully function as a currency as easily and fluidly as standard currency like a silver coin. The key questions to consider are: Does Bitcoin represent a store of value (dollar terms), and will it continue to increase in value (dollar terms) for logical, non-speculative reasons related to how it actually functions relative to the Bitcoin network (and hashrate)?
It does have value. The value is all of the energy consumed to create the Bitcoin, but also all the energy required to try and attack or hack the nodes and algorithm. This is represented by the hashrate. Hashrate keeps growing until it cannot be reasonably attacked by a single bad actor. We are already at the point where all Bitcoin miners and users worldwide would have to work together to pooling ALL of their energy to even try to attack the Bitcoin network. It appears to have reached a critical thresh-hold now, which allows for development of the rest of the mechanisms needed to turn it into a typical currency.
Bitcoin becomes worthless (temporarily?) if all of the world's energy grids AND every node of the internet gets destroyed at the same time (this is mathematically represented by the current hashrate). Given the power of nuclear weapons, this is not impossible now, but it will be very soon. Think about that. Even deployment of all the world's nuclear weapons simultaneously to destroy the Bitcoin network and world's energy grids will soon not be enough energy to fully stop it. It is a virtual SkyNET energy weapon system when fully deployed, but being deployed to save humanity rather than to destroy us. You may not fully understand this until you read section 5.10 of Softwar.
This is a lie. This energy has no value. A thing has value if it is usable. In this case, all of that energy has already been lost to heat. It's all gone. It is non-usable energy. These arguments for Btc being "energy based" take a shit all over basic physics (specifically our ideas of entropy). ALL OF THE ENERGY REQUIRED FOR BTC IS USED UP!!!
It stores no energy. It stores no value. It is WORTHLESS except as a technology. But it is infinitely divisible (effectively). As a technology 0.0000001 Btc is just as valuable as 1,000,000 Btc. So as a technology, it has value. It can be used to create things, like say, a real asset backed currency (though there are better block chain techs than Btc, so it's really not a very good one in that regard). But it's value is not tied to the number that you have, thus it has no measure based intrinsic value.
This is an argument for it as a technology, not as a valueless currency.
Like everyone else, all of your arguments for Btc are either completely false, or are arguments for it as a technology. These arguments completely ignore the fact that it's usability as a tech is just as valuable no matter how much you have.
All non-asset backed currencies are worthless. We have been trained to believe in them. Once the scam is fully revealed, and we allow ourselves to have access to other means of economic exchange, not a single person will hold on to Btc et al. Not one. Why? Because it is a scam, pure and simple. Eventually that will be obvious to everyone.
It is not a currency yet. It is still tied only to energy because it must hit certain hashrate milestones as mining network and worldwide energy grid is built out, so it can’t be stopped.
It is a store of value priced in $ as hyperinflation destroys the $, but soon it will be obvious it is also a store of value when priced in gold. Silver will likely come later. This is what it is intended for right now. One alternative store of value, that’s it. (a life raft like gold, if you will). You are arguing about something that hasn’t happened yet.
You need to read Softwar. Bitcoin is not a scam, but all other cryptos may be depending on who controls them (there is only 1 proof-of-work crypto). Bitcoin is limited amount, but infinitely divisible. Its value grows over time as more energy is put into mining it and protecting the nodes. Most of the other cryptos were specifically created to program the public that “cryptos are a scam” while the Deep State hands out Bitcoin for bribes and uses it quite extensively now.
You can buy satoshis (100M satoshi per Bitcoin), but early adopters owning 1 Bitcoin now will very likely be new wealthiest 1% worldwide (for investing in humanity). You can also buy 1 share of MSTR stock and move to transfer agent to self-custody if you are not convinced it has any value. As a shareholder you might be convinced otherwise. MSTR is largest publicly traded holder of Bitcoin on balance sheet.
Space Force appears to be protecting the Bitcoin network “cyberspace” mining nodes as well as the StarLink parallel internet nodes. I don’t thing they would be doing that if Bitcoin was a “scam”
If there is enough bitcoins able to be mined for each person in the world to have one coin what would that coin be worth? Would it buy a house or a loaf of bread. Like how is the value of it not able to be manipulated? If I have 10 and you have none then one would hold a lot of value to you if you need to buy something and you would trade something of greater value to get the coin if you needed it to pay a bill or get something
Total Bitcoins will be 21M in the year 2140. You can buy satoshis (100M satoshi per Bitcoin), but early adopters owning 1 Bitcoin now will very likely be new wealthiest 1% worldwide (for investing in humanity).
Yes, it must eventually be used for everyday exchange in order to increase liquidity enough for everyone. They are very near this point in El Salvador, but most Corporations and State Gov’t in US are not accepting it. Some smart small biz operators and municipalities accept it as payment alternative. Your bread will be priced in satoshi and $ and possibly silver simultaneously at some point.
I was buying silver with Bitcoin because I believe it is the only thing more underpriced right now. I stopped and decided to try to accumulate 1 Bitcoin worth, expecting to be able to borrow against Bitcoin collateral asset at some point in the future.
Trading Paradox is that something viewed as too valuable will not be given up in trade for anything else unless it is just a tiny portion of the total “wallet”. This is happening slowly as Bitcoin price in both $ and gold terms increases.