Bitcoin is about to die
(www.barrons.com)
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Not sure if serious?
Money's value used to be PINNED to value of gold.
Currency used to be a Gold Certificate. A Gold Certificate is a United States issued paper money bill that was fully redeemable in its face value of gold. This means back in the late 1800s and early 1900s you could bring a Gold Certificate to the bank and receive equal value in gold to the denomination.
The fiat currency now is not redeemable for gold. It takes more and more fiat to buy an ounce of gold. The fiat currency loses value every year.
Not serious, since an even remotely comprehensive rebuttal would be long enough to read as a leftist meme.
The regime would basically have to shut down the internet, and possibly electricity, to make it game over for crypto. And then the world would have larger problems.
Meanwhile their own fiat currency scam has been decoupled from gold, is being inflated out of any semblance of value as fast as they can get away with, and they routinely prohibit bank transfers from and to individuals as well as organizations and countries. And their current project is to shut down fiat cash. These problems can only be solved with an insane number of impalements.
NO.
You are all missing the point.
I am not saying that the network will go down.
The network can continue ad infinitum.
Peer to peer exchange of BTC can continue ad infinitum.
So what, if you cannot convert it to fiat or CBDC?
Example...you have 100 beans. I and 29 friends keep exchanging the beans. They are good and great beans. No one else knows that we are doing this.
We value one bean $16,000.
However, noone else in this planet (except the 30 of us) likes to do anything with these beans.
Noone is stopping us for swapping our beans, lending it to each other or do whatever with it. However, we have to pay the bills, buy food, pay gas, and the Internet bill and none of these idiots want to accept our beans. All these idiots (except us 30) like to play with some idiotic form of currency called CBDC.
Your arguments please...
Good points.
I'd argue that I can request my employer pay me in bitcoin. he saves payroll taxes, UI insurance, etc. It saves him money.
I get paid in bitcoin.
With bitcoin I can transact with other people who utilize bitcoin.
But you are right. It is doubtful the electric company or water company or cellphone company or internet company is going to accept my bitcoin.
My argument for that is to go off grid as much as possible.
Also, I can transact in both currencies. I can slowly try to transition more and more of my life to bitcoin. It doesn't have to be all at once.
That was over 100 years ago, and 50 years ago the last fractions of the gold where removed. All that's left now is debt and retards with severe Stockholm syndrome defending that flawed system at all cost.
The real money is Gold and Bitcoin, they both can and should coexist in this modern day world where we need both digital and physical money.
I was very suspicious of bitcoin and missed the early years.
I still own none. But I like the entire theory behind it and believe something like this very well may be the better alternative to central banking systems hustling fiat controlled by pedophile jew cartels.
Also Gold and silver historically hold value. Maybe for reasons we don't quite understand. Why did our ancient civilizations choose gold as the thing of value? What did they know about it that we don't?
It's pretty simple, value comes from a set of properties: scarcity, durability, frangibility and acceptability.
Now the interesting thing to notice here, is that Bitcoin has the exact same properties, but it also has additional properties, like:
Ironically when thinking about it, take the consumerism for instance, we consume a lot of crap because our fake fiat currency is literally burning in our pockets. If your money had value tho and where increasing in value over time you'd be more prone to saving, and only purchase stuff you need. This helps prevent over consumerism and moves away from the modern centralized industrial society altogether while bringing us all back closer to the nature, with freedom and decentralization. But of course with modern technology. Seems like some kind of utopia to me if successfully implemented.
Excellent comment. Well stated.
There may be advantages / disadvantages I'm overlooking though. What are some of the top criticisms of bitcoin that may hold some merit?
The lone fact that it is digital, and not something physical, is alone a barrier to many people accepting it. To them, money was always something they held in their hands. However, these same people would likely accept a government digital currency if it were shoved down their throats. And most of the USD in circulation today only exists digitally.
Used to is the keyword here.