There's a segment of Bitcoiners who have this mindset, but many others do not. Bitcoin is decentralized and we all do not agree on every single thing Gold has been used as the reserve asset for thousands of years up to the present time, but when gold became a threat, US govt took action against gold, see Executive Order 6102 --------------- Bitcoin as a fully-regulated asset and protected by many US laws on the federal level and at many states is a much better path This has been happening lately and many Bitcoiners like myself are very happy with the recent development in the US Regulatory environment The Biden administration has been very supportive of the Bitcoin and Crypto Assets. This may be because the 2nd biggest contributor to President Biden's campaign was Sam Bankmnan-Fried Due to tremendous wealth that has been generated in the crypto assets ecosystem, there are many funds available that are being used for lobbying by the industry Many crypto companies such as exchanges and crypto platforms have been hiring ex US officials sending a message to the current US officials that they will be well-compensated once they retire from public service, a game that the big banks have played for a long time On that note, my family is a single-issue voter. We will vote to support the politicians who are "friendly" to the crypto assets. Many Bitcoiners are single-issue voters, as well EU is not friendly to crypto assets, but Dubai and other places in the middle east, and many Latin American countries and many Asian countries are supportive of crypto assets ------------ No, Bitcoiners do not shit in their pants because of price volatility We've learned to accept price volatility. We have low time preference as discussed in the book "The Bitcoin Standard" Bitcoin did not go from pennies to $100 without price volatility Bitcoin did not go from $100 to $10,000 without price volatility Bitcoin did not go from $10,000 to $50,000 without price volatility Bitcoin will not go to $500,000 without price volatility Bitcoin will not go to $1,000,000 without price volatility Bitcoin will not go to ......... without price volatility
You guys are all dummies. The great and all knowing VZ ( ) wrote about this 5 years ago. Putting the whole debate of crypto's worth aside for a just second... Let's say it is the future, and it's worth what btc-bulls claim it is... both now and going forward... These calculations/puzzle solving (or whatever you want to call them) dilemas over burning fossil fuels.... dumb. They don't need to use fossil fuels to do that. It can all be done in orbit using the sun's power via custom designed satellites. This world has all the energy it will ever need. EVER. It rises in the East every morning. It'll just take a few more Elon types to prove VZ right. All those calculations can be done up there. And better yet, changing the subject, all that energy up there can be converted into some kind of rf and then beamed down for conversion into electricity. I have no idea how, but I know I'm right. Basically, the same principle that enables you to charge your phones with no wires or plugs. The existing technology that does that for your phone now... an apt comparison would be an internal combustion engine in 1880. It's not here yet.... but it will be. Assuming we don't self destruct.
Anybody wants to know how the SafeMoon guys are doing? Not an NFT, but the same ponzi... wanna_be_doc : "What you’re describing is actually cognitive dissonance. u/PapaverOneirium actually hit the nail on the head with the link to “When Prophecy Fails”. Basically, when people are highly invested in a belief that fails to come to fruition, it causes severe psychological stress. This stress can be resolved in two ways: they either abandon the belief or they double down. The latter typically only happens if there’s a community supporting the believer, since their mutual reinforcement helps overcome the disappointment associated with the failed prophecy. Many of the Safemooners have already lost thousands of dollars since their investment is down 95% since last year. Ironically, this may cause some members to become even stronger advocates for SFM and proselytize, since the community support is at least more tolerable than realizing you were scammed."
You're right, there's still plenty of coal and oil left. We'll just put the future on hold for another 50 years. Maga!