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re: feels like this economic crash is gonna be the real start of the crypto boom
Posted on 10/15/22 at 2:01 pm to UltimaParadox
Posted on 10/15/22 at 2:01 pm to UltimaParadox
What are the better solutions?
2
Posted on 10/15/22 at 2:06 pm to 21JumpStreet
quote:
What are the better solutions?
Lol to what? What is the use case? Currency, Bitcoin with its seven transaction a second??? Lol
No let's solve it with a centralized solution like lightning.
Posted on 10/15/22 at 2:17 pm to UltimaParadox
A scarce asset to keep the whole world whole.
Posted on 10/15/22 at 2:22 pm to 21JumpStreet
I don't think that's a compelling use case, but hard to justify a digital asset as scarce. Technically the source code makes Bitcoin scarce, but anyone can fork it and make an exact copy. Only thing Bitcoin has is first mover advantage.
But I'm not sure I agree being scarce with no utility really gives it any value. The price of Bitcoin is purely based on the greater fool theory, so once you run out of new fools where does it leave you?
But I'm not sure I agree being scarce with no utility really gives it any value. The price of Bitcoin is purely based on the greater fool theory, so once you run out of new fools where does it leave you?
This post was edited on 10/15/22 at 2:22 pm
Posted on 10/15/22 at 2:39 pm to UltimaParadox
With anything the price is based on the greater fools theory within stocks and etc.
But the technology behind it you can't argue. The source code is a democracy. You can have someone and disagree and fork it like bitcoin cash, but the majority will still live and innovate with bitcoin.
If the vision of bitcoin changes, then yes, jump ship. But the vision imo right now is to better the world with payments and a scarce asset.
But the technology behind it you can't argue. The source code is a democracy. You can have someone and disagree and fork it like bitcoin cash, but the majority will still live and innovate with bitcoin.
If the vision of bitcoin changes, then yes, jump ship. But the vision imo right now is to better the world with payments and a scarce asset.
This post was edited on 10/15/22 at 2:46 pm
Posted on 10/15/22 at 4:47 pm to 21JumpStreet
quote:
What are the better solutions?
A currency backed by a tangible asset of some sort. Traditionally precious metals but I don't see why other commodities wouldn't work.
The idea has been floated that BRIC countries might try to replace the dollar with a gold backed alternative
Posted on 10/15/22 at 4:51 pm to molsusports
Precious metals aren't scarce baw.
You trust that over math?
You trust that over math?
This post was edited on 10/15/22 at 4:59 pm
Posted on 10/15/22 at 5:13 pm to Between TheHedges
I say just keep on stacking sats and see what happens in the next decade.
Posted on 10/16/22 at 10:14 am to molsusports
quote:
A currency backed by a tangible asset of some sort
Unless you’re a big hoarder and like unstable economies that’s not a good idea
Posted on 10/17/22 at 10:43 am to Between TheHedges
Bitcoin and crypto’s were suppose to be a hedge against inflation yet when we inflation appears, bitcoin (and others) crashed .
They’re not a hedge against inflation
They’re not a hedge against inflation
Posted on 10/17/22 at 4:00 pm to Between TheHedges
quote:
and BTC even though it’s been crashing too, it’s been showing more strength than stock market
WTF?
Posted on 10/19/22 at 10:56 pm to cwill
quote:
WTF?
The statement you quoted is straight forward with no jargon
Posted on 10/19/22 at 11:24 pm to Between TheHedges
quote:
The statement you quoted is straight forward with no jargon
I think he found it unbelievable that BTC is showing strength down 60% YTD vs equities which aren't near that.
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