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Started By
Message
re: Bitcoin is Gresham's law in practice
Posted on 1/10/21 at 12:00 am to TheWalrus
Posted on 1/10/21 at 12:00 am to TheWalrus
quote:
like to think I’m pretty smart and Bitcoin is beyond me
Whats going to happen is these dumbass countries living in poverty will buy a bunch of it hoping to get rich quick and then go to war when it becomes worthless.
0
Posted on 1/10/21 at 12:00 am to AllDayEveryDay
quote:Damn this took me back to the og bitcoin hate threads on the OT.
Bitcoin is useless and will always be useless because the government can't tax it. When they figure a way I'm all in.
Posted on 1/10/21 at 12:00 am to TotalYatMove
quote:
True or false: Every single mathematical truth has already been created.
I am not sure how I would even conceptualize the creation of something discovered through knowledge as it’s far more abstract than what we’re discussing. But I guess I would say the truth had to be created before it was discovered, but I can’t say that every truth in our universe (or universes) has already been created. Posted on 1/10/21 at 12:03 am to buckeye_vol
quote:
I am not sure how I would even conceptualize the creation of something discovered through knowledge as it’s far more abstract than what we’re discussing. But I guess I would say the truth had to be created before it was discovered, but I can’t say that every truth in our universe (or universes) has already been created.
This is a great response that I don't believe I agree with. Either way,
Posted on 1/10/21 at 12:04 am to buckeye_vol
Ron, how did you get this big arse house? Oh shite Larry, I was fricking around on the internet one night and paid 100 bucks for this telephone number and now everybody wants it. This guy ended up giving me his house for it.
Its crazy though, I called the number and the damn thing doesn't even ring. Sucks for that guy.
Its crazy though, I called the number and the damn thing doesn't even ring. Sucks for that guy.
Posted on 1/10/21 at 12:05 am to Mud_Till_May
quote:
Ron, how did you get this big arse house? Oh shite Larry, I was fricking around on the internet one night and paid 100 bucks for this telephone number and now everybody wants it. This guy ended up giving me his house for it.
Posted on 1/10/21 at 12:05 am to Mud_Till_May
What the frick are you talking about
Posted on 1/10/21 at 12:05 am to CE Tiger
He’s lost the rest of his mind
Posted on 1/10/21 at 12:08 am to CE Tiger
quote:
What the frick are you talking about
Im talking about how some poor will get stuck holding the bag for another worthless currency.
Posted on 1/10/21 at 12:12 am to Mud_Till_May
Time is the only thing that has intrinsic value. Time is the only thing valued by all humans (except the suicidal) no matter the situation. Outside of time itself, we all value things that help us save time and things that allow us to spend time however we want. I would even argue that time is what drives love. I love my wife bc of the time we have spent together, how we spent it together, and the time I hope to spend with her in the future. It all boils down to time.
Money allows us to spend our time however we want. It stores the time we have earned by being productive. Money—whether it be gold, US dollars, Bitcoin, animal skins, or goats—is all about storing time.
The only difference between gold and the rest is that gold has been the most universally valued thing (besides time) for the longest amount of time. It’s been used as money for roughly 3,000 yrs and will likely retain its value for another 3,000 bc of certain properties it possesses.
In 100 yrs, will Bitcoin have value? Who knows. Will the dollar? Who knows. Will gold? Yes. I’ll buy gold, and pass it along to my kids.
Money allows us to spend our time however we want. It stores the time we have earned by being productive. Money—whether it be gold, US dollars, Bitcoin, animal skins, or goats—is all about storing time.
The only difference between gold and the rest is that gold has been the most universally valued thing (besides time) for the longest amount of time. It’s been used as money for roughly 3,000 yrs and will likely retain its value for another 3,000 bc of certain properties it possesses.
In 100 yrs, will Bitcoin have value? Who knows. Will the dollar? Who knows. Will gold? Yes. I’ll buy gold, and pass it along to my kids.
Posted on 1/10/21 at 12:14 am to TheDude854
quote:
100 yrs, will Bitcoin have value? Who knows. Will the dollar? Who knows. Will gold? Yes.
What about when someone figures how to mine asteroids and this once rare metal is now easily obtainable and supply has increased insanely?
Posted on 1/10/21 at 12:14 am to TotalYatMove
quote:
This is a great response that I don't believe I agree with. Either way,
I’m not sure whether I do either because it’s a little beyond my comprehension. Regardless, I think I may have “discovered” a way that your comment about bitcoin being discover makes sense.
Specifically, if it was “created” by someone applying knowledge and truths that were discovered then the “creation” (and any creation for that matter) is a result of discovery.
Am I on the right track?
Posted on 1/10/21 at 12:16 am to TheDude854
People dont value time. They whore it out to buy stupid shite that takes even more time away from them. Like drugs
Posted on 1/10/21 at 12:18 am to CE Tiger
quote:
What about when someone figures how to mine asteroids and this once rare metal is now easily obtainable and supply has increased insanely?
You aint getting there for free Christopher Columbus
Posted on 1/10/21 at 12:26 am to buckeye_vol
I'll give that a tentative yes. Bitcoin only exists because of something that already existed. It is the polished and finished diamond ring. The wing that balances lift and drag of the wind to generate flight.
Mostly, I was more trying to be drunk deep and not necessarily literal, but that's the idea.
I also own 0.0 BTC, for the record.
Mostly, I was more trying to be drunk deep and not necessarily literal, but that's the idea.
I also own 0.0 BTC, for the record.
Posted on 1/10/21 at 12:28 am to Mud_Till_May
That’s them spending their time how they want to spend it. Drug users value time; they just want to spend their time getting high.
Posted on 1/10/21 at 12:34 am to CE Tiger
quote:
What about when someone figures how to mine asteroids and this once rare metal is now easily obtainable and supply has increased insanely?
Not exactly likely. Possible but not likely. Of course, if that did happen, it’d change not just gold’s value but just about everything.
Then again, the supply of dollars has “increased insanely” in the last 12 yrs, so we’ll see how that ends up.
Posted on 1/10/21 at 12:37 am to jimbeam
quote:
He’s lost the rest of his mind
He's been entertaining to watch, you have to admit.
Posted on 1/10/21 at 1:34 am to CE Tiger
quote:
What about when someone figures how to mine asteroids and this once rare metal is now easily obtainable and supply has increased insanely?
It is highly likely that just like oil and gas, there are still undiscovered deposits of gold on earth that advances in technology will eventually uncover, some could be large enough to totally destroy market value.
Posted on 1/10/21 at 7:02 am to buckeye_vol
quote:well Satoshi Nakamoto probably started as a single person but the creator was a group of people.
And that creator has been a topic of speculation for sometime.
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