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Posted on 2/7/26 at 4:18 pm to WG_Dawg
quote:
why do they have value other than that people all agree that they have value?
Because it’s a sign of wealth. If gold prices plunge, someone will show off and build their toilet out of gold. If gold simply dips, someone will make gold foil to cover a steak.
It has intrinsic value because it’s a tangible object. When people can display their bitcoin to display their wealth it will have intrinsic value. Until that time it’s headed towards the same fate as JPEG monkeys.
Posted on 2/7/26 at 8:24 pm to lsuconnman
Imagine if a country, syndicate or person bought all of bitcoin
What would change?
What would change?
Posted on 2/7/26 at 10:13 pm to SlidellCajun
Like El Salvador? They used to be poor AF…now they’re even poorer.
Posted on 2/7/26 at 11:30 pm to The Baker
Nice troll…
Posted on 2/7/26 at 11:32 pm to lsuconnman
quote:
Like El Salvador? They used to be poor AF…now they’re even poorer.
What price point did they buy bitcoin?
Posted on 2/7/26 at 11:39 pm to Pendulum
quote:
I was reading this thread yesterday evening right after work, and scrolled past just one too many "going to zero" posts and antibtc knights taking victory laps; it peaked out in this thread almost exactly as btc bottomed at 60k and violently bounced of 60k on the dot.
Pretty sure many were going to bed given the time of day. If the price were $63k or $120k, my opinion wouldn’t change. BTC investors will be disappointed when the plug is pulled…
Posted on 2/8/26 at 9:05 am to lsuconnman
quote:
Like El Salvador? They used to be poor AF…now they’re even poorer.
They stopped their btc experiment years ago after it failed miserably.
Posted on 2/8/26 at 1:29 pm to UltimaParadox
quote:
They stopped their btc experiment years ago after it failed miserably.
I thought they stopped their BTC accumulation program because it became an issue for the World Bank.
Posted on 2/8/26 at 1:31 pm to David_DJS
quote:...to continue lending them money.
I thought they stopped their BTC accumulation program because it became an issue for the World Bank.
Posted on 2/8/26 at 1:33 pm to Big Scrub TX
quote:
...to continue lending them money.
Yeah. Why else would they give a shite what the World Bank said?
Posted on 2/8/26 at 1:58 pm to David_DJS
quote:Why would they need to borrow so much if bitcoin had them in such a plum condition?
Yeah. Why else would they give a shite what the World Bank said?
Posted on 2/8/26 at 2:02 pm to Big Scrub TX
quote:
Why would they need to borrow so much if bitcoin had them in such a plum condition?
lmao - so, a 3rd world country buys a few thousand bitcoin, and if that doesn't give it a first world economy, that's a failure of bitcoin?
You're not this retarded.
Posted on 2/8/26 at 2:11 pm to David_DJS
quote:It's been 5 years and none of Bukele's predictions on the impact of wading in have come to pass. It's been a failure in nearly every regard - easily, predictably so.
lmao - so, a 3rd world country buys a few thousand bitcoin, and if that doesn't give it a first world economy, that's a failure of bitcoin?
I give him major credit for the crime crackdown. And an F- on this idiotic foray into fake money.
Posted on 2/8/26 at 2:14 pm to UltimaParadox
quote:
They stopped their btc experiment years ago after it failed miserably.
quote:
Despite striking a deal with the IMF to scale back its Bitcoin experiment, El Salvador claims it is still buying one Bitcoin per day since it came up with the plan in 2022
From an article.written yesterday
Posted on 2/8/26 at 2:18 pm to Big Scrub TX
quote:
It's been 5 years and none of Bukele's predictions on the impact of wading in have come to pass. It's been a failure in nearly every regard - easily, predictably so.
Failure in what sense? That adoption as currency was nipped in the bud by the IMF/failed to take hold? Did that really matter much?
Posted on 2/8/26 at 3:29 pm to David_DJS
quote:He predicted it would greatly improve banking for his citizens.
Failure in what sense?
Posted on 2/8/26 at 4:03 pm to David_DJS
quote:
Failure in what sense? That adoption as currency was nipped in the bud by the IMF/failed to take hold? Did that really matter much?
One could argue it has been more widely accepted and used (i.e. with various companies accepting bitcoin or offering bitcoin investment opportunities)
It is still no where close to being "currency"
Posted on 2/8/26 at 4:11 pm to Big Scrub TX
quote:
He predicted it would greatly improve banking for his citizens.
And how did bitcoin fail in this sense?
I get that adoption dramatically lagged what was hoped for but I'm not sure that's a BTC thing.
Posted on 2/8/26 at 4:12 pm to HailToTheChiz
quote:
One could argue it has been more widely accepted and used (i.e. with various companies accepting bitcoin or offering bitcoin investment opportunities)
It is still no where close to being "currency"
I agree. I don't necessarily see that as a failure of BTC, though.
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