What do you think?

Link here: settheory.net/future/Bitcoin

Other urls found in this thread:

settheory.net/future/Bitcoin
ellipsix.net/blog/2009/04/how-much-does-data-weigh.html
twitter.com/AnonBabble

So what you are telling me is gold lost all value when fiat was invented?

U r a fast reader... I don't think it says that.

That is basically what it says. The moron doesn't understand that bitcoin is gold and not fiat. It's as much a currency as gold as.

He is positing that bitcoin is the decentralized currency that will take over the world. It isn't. It's digital gold.

Gold is physical... gold can be used as decoration to elevate your perceived social status.

Bitcoin is fiat, not gold. It's more like owning real state in second life. I think that's whats he is saying.

>implying bitcoin isn't physical
Kill yourself normalfag

I will kill myself, but how is bitcoin physical?

What's your IQ score and how come you are not able to see multiple faults in his repetitive arguments?

>electricity isn't physical

The guy who wrote that has a very high IQ, probably more than 150. Of course that doesn't mean he is right.

I thought this was about Link

Everything that uses electricity is.

The bitcoins are stored on a drive, they are physically on it. This might surprise you but a full hard drive weighs more than an empty hard drive, the data stored on it has physical weight. So bitcoin is very physical in a sense

This.
So many idiots dont understand that it isnt just "Oh look lets use this different currency so we can be edgy meme lords"

This is literally the gold rush. LITERALLY.
Instead of a pickaxe, the tool to mine it is a PC.

Did he tell you that he has that? He lied.

BTW I know bitcoin aren't stored directly on your hard drive it was a simplification I made to drive my point across more easily

this

>Full hard drive weights more than an empty one
Is this true?, oh fuk that's pretty cool

Bitcoin is not physical, also fiat is physical and we don't give its value because it's physical so it's a poor argument.

So if bitcoin is gold then bitcoin cash is silver and bitcoin's next fork is bronze? And all the other cool alt coins are all the other metals?

Gold is just a store of value and a recognized one. Bitcoin is to the Crypto world as Gold is to the fiat world. It's what people traded in once they stopped bartering but before fiat became a thing.

It's similarity is in the consensus of it's value and it's nature in relation to the economic market in which it exists.

The other coins are irrelevant to this metaphor. You are thinking like a boomer and it's a problem.

Yeah my man, it is a really really tiny difference but it's still fucking cool

>Link here: settheory.net/future/Bitcoin
>Link here
>Link
>LINK
>C H A I N L I N K

BUY BUY BUY WE ARE GOING TO THE MOON

ellipsix.net/blog/2009/04/how-much-does-data-weigh.html

here's the source if you're interested

actually, fiat dollars are not physical. a "dollar" is a unit of weight. as in a "dollar" of silver. or a "dollar" of gold. they're specific weights of metal that equate to a payment. fiat dollars represented that, until HJR192... now the dollars represent nothing, seeing as inflation doesn't keep any legitimate relation to wages.

Gold also has no intrinsic value. It is also fundamentally a fiat currency, particularly when debased...

not many understand what money is... which is why 99.9% of you will remain on the treadmill, even if you hit lambo territory

I see the main argument as the 3rd paragraph, but it is clearly written by somebody who doesnt understand the tech behind bitcoin: People can try to make "Bitcoin 2.0" all they like, but because of the risk involved nobody will move to it. Instead, as necessary updates are rolled out, bitcoin will do exactly what it has done with BCH and will do with BCG and people will, similarly to the central banking system, have their old coins painlessly swapped for the new ones.

As for the 2nd paragraph, not having a reason to keep your money actually would incentivise spending and therefore economic growth. The argument about its appreciation being lower than inflation is ridiculous and totally disregards the concept of LIQUIDITY. Yes you can get more money by investing in stocks and shares IF bitcoin is totally stable, But at the end of the day it isnt, and for it to become totally stable it would have to be used over fiat currency, for which the "lower than the average real interest rate" applies also.

This article is obscenely jaded, it illustrates literally 0 understanding of neither the technology behind crypto/btc nor knowledge of the crypto market itself. It fails to segregate bitcoin into what is essentially two states: Growing, and adopted. The problems it attempts to illustrate would also apply to fiat if bitcoin was adopted into the mainstream, and due to it being a speculative investment until it reaches that stage (i.e. NOT A MAINSTREAM CURRENCY), comparing fiat to bitcoin in its current state is a comparison between two vastly different classes of asset with totally different values and therefore totally different purposes.

Just my 2 cents.

>stabilize the money by central banks

>muh macroeconomic instability

It's like idiots can't comprehend that the only way to suppress economic cycles is by bribing the powerful people to not bet against your assets giving them billions of newly printed dollars so they keep the party going, but they won't keep the party going with their own money if the government doesn't give them new money they won't invest shit. And somehow idiots think that this can keep going on forever and that with >muh QE there will never be a crash again

facts, user... but the system isn't really designed to last forever

shit will hit the fan

> In these conditions, the limit of ideally needed amount of total value of unproductive currencies in circulation, such as bitcoins, is... Zero !

Wtf do these kikes mean by this?!? Holy shit I am dumb ;(

>this fucking kike
Read "Ascent of Money" (Niall Ferguson) and you can't help but admire his semitic financial genius tbf.