Bitcoins - digital currency
Fiat money pays for a military which takes over other countries and ensure the continuous flow of cheap oil.
Fiat money pays for police, firefighters, health care workers, road repairs and infinite variety of social services.
Gold has widespread industrial utility. It's a real physical thing with properties including conductivity, malleability and corrosion resistance.
I'll give you the 5-10% of it's value for consumptive use. 90% of it's value is from it's store of value. Fort Knox and other government gold treasuries don't exist to save gold for it's conductivity, malleability and corrosion resistance properties.
Fiat money pays for a military which takes over other countries and ensure the continuous flow of cheap oil.
Fiat money pays for police, firefighters, health care workers, road repairs and infinite variety of social services.
Ya it's great for a while. They all collapse eventually. Money printer go brrrr
I'm not here repping gold as an investment. I'm just pointing out that unlike BTC .... it's a real thing that has real usage.
BTC is just vapor.
Some mystery dude owns like 5% of it. You think the ruthless mf's who run the world are going to give some nobody 5% of the world's wealth ? LOL.
In this case, that truth would be the understanding that almost no one believes BTC is necessary.
Link?
In what sense is anything "necessary"? Every modern technology we have now, we also lived without for a long time.
That's true. Life enhancement might be a better term than necessity. Plenty of ways BTC enhances the storage of wealth. Portability, divisibilitiy, durability, decentralization, immutable, self-custody, trustlessness, etc.
In what sense is anything "necessary"? Every modern technology we have now, we also lived without for a long time.
That's true, but as a society we need a way to transact and trade with each other. Over time what we use for that has evolved. Whenever two forms of money collide people always end up wanting whatever is the best one.
I see the evolution of money as ongoing.
Metals to Paper to Code.
The weaknesses of fiat money are becoming more exposed with technology as well. It has made it easier for them to debase it than it was centuries ago. Back then they had to fake coins, or use cheaper metals. In the last century they had to physically print bank notes. That all took time and effort. Nowadays they can just press a button and the currency is debased more.
If the price is just a slave to the cycle then the whole political hubbub sure seems like wasted energy.
Yes, it's mostly wasted energy. You'd be better off not paying attention to most of it in the long run. Narrative follows price.
$58.5k
Down over 50%.
Just listen to the wise words of Joey Tempest. In the first verse of "Carrie", you only need to change two words to turn it into solid crypto advice.
When [strike]lights[/strike] coins go down, I see no reason
For you to cry, we've been through this before
In every time, in every season
God knows I've [strike]tried[/strike] HODL'd
So please don't ask for more
Strategy records $8b loss
