As of today if you’ve held no one has purchased ur profits. And yet everyone who’s bought for the most part has bought at a lower price. No? Not saying you can’t lose I’m just saying as of today more or less. If you’re short though,can’t speak for those.
It's fun to watch the crazy volatility of Bitcoin being touted as if it's a positive. The reality is it's mostly unusable for real business. Imagine your company needs to buy 10 large excavators...think they have those in stock? You'd be bonkers to agree to any price payable in the future in Bitcoin. Its value could go anywhere in the six months. And what do you think financing* would cost (in Bitcoin) given it's extreme volatility? Then you have the problem of accounting controls. You're going to give a private key to some employee that could run away to a foreign country with all your cash? *Loans are a special issue with Bitcoin because it is explicitly not fractional reserve. If everyone abandoned the US dollar and similar systems how much do you think a loan is going to cost? Basically take the current prevailing interest rate and multiply it by your banks reserve ratio to get an idea. (Hint, the current reserve ratio required in the US is zero) You'd basically have a depression if everything switched to Bitcoin. It's fun to watch the "number goes up" crowd too. As if fundamentals are completely irrelevant and we should just ignore the fact that it's not possible for all current holders to exit at the market price because unlike a corporation that actually produces something, their is no shareholder retained value/shareholders equity. The "number goes up crowd" would be happy to buy shares in the $100M deli as long as the price kept going up.
I honestly don't think you made any arguments that can't be defeated. You talked about all the electricity use, but I countered with the true cost of USD. Its like if someone says a house costs $500k. But what is the true cost if you add in all the interest expense, maintenance, property taxes, etc? Its will be at least double, and most likely higher. Then you also need to consider that bitcoin mining seeks out the cheapest energy, with a higher percentage being renewable now, and also stranded energy that couldn't be used for anything else. The electricity argument against bitcoin is invalid if you dig deeply enough.
I agree. A company right now should only accept bitcoin and hold it on their treasury. Sell if they need to, but try and hold for world wide adoption. The depression is coming no matter what. Everyone arguing against bitcoin is essentially saying they like using a system that is designed to steal from them and guaranteed to lose value. This is what most people don't understand. Bitcoin isn't a stock that needs to produce something. As has been said by many bitcoin experts, bitcoin is only a ledger meant to store and exchange value over space and time. This is the fundamental role of money. But fiat currency does a shit job of this. It doesn't hold value, and there are many restrictions on how you can exchange it. If people want to understand bitcoin, I think they need to start thinking about it in the right way. Nobody expects a car to float like a boat or fly like an airplane. So you have to evaluate Bitcoin based on the properties that is has and what its designed to do.
fuck man at least i have a piece of paper in my hand when the emp strikes or i have ammo - wtf do you have? a computer that has nothing to hook up to even if you had a generator lol - you are a fucking idiot for not realizing these facts. fiat is a tangible if not at least on paper - btc has not 1 fucking thing. who you going to hold accountable for btc? at least with fiat you know your target. look at all the coins gone in vapor! i had many myself, i still have a shit ton of coins but i have a parachute.
Ouch... a little hostile there. If this happens, 90% of the world dies anyway. We all mostly live in cities. The food won't come, the fridges will stop working and whatever we have will spoil, the water won't come out of the tap, the sewer system will stop working. etc. You'd be surprised how many Bitcoiners talk about guns anyway, so they will be fine. Even your gold or paper dollars will likely be worthless because nobody will exchange their finite resources for money. Everyone will hoard whatever they have and try to protect it. We will go back to living off the land. But in a month, once most people are dead, and those who survive do so only because they know how to take care of themselves and likely live in the countryside, can begin to build a new life. Nobody will care about bitcoin, but nobody will also care about the FED and sending money and weapons to Israel or Ukraine or anything else really. So I'm really not too worried about Bitcoin dying by an EMP strike.
but still where is the responsible party for failure of any electronic coin, the only ones who get any revenue out of it is the fed. the investors or users all are shit up creek, btc will be no different. i sang the praises, i was early on it, it didn't matter when it was worthless. now it's big nuff to definitely fail. it's like a trading system that is published - destruction is eminent.
Antibiotics, ammo, real off grid living. If you ain’t got that, it doesn’t matter wha5 form of payment you have. I agree