digital gold

Discussion in 'Crypto Assets' started by Goldlover, Oct 2, 2023.

  1. jbusse

    jbusse

    Thanks for posting the youtube video. I like to see arguments against bitcoin and judge them for myself. The video focused the majority of its time on NFTs, which I agree don't seem to have any long-term value, such that the greater fool theory applies. I think this has always been obvious to anyone with a modest level of common sense. Same seems to be true for the vast majority of sh*tcoins.

    But notice that the video spent very little time specifically on bitcoin, I'd guess maybe 5 minutes, certainly fewer than 10. And I found most of what it said about bitcoin to be half-truths. For example, it first used the argument that since bitcoin is deflationary, it wouldn't be suitable as a currency, because its value should go up. Therefore, the narrator argued, it doesn't make sense to use bitcoin to buy things, because you'd want to hang onto it as its price continues going up. But then that's a great argument for bitcoin being a store of value (which, of course, the video failed to mention). Another half-truth was presenting the fact that the number of bitcoin transactions per second is too low to compete with Visa or Mastercard without mentioning that the layer 2 solutions address that very issue.

    So, I'd say the video did a decent job creating skepticism about a lot of cryptocurrency without providing a convincing argument specifically against bitcoin. Regardless of the topic, half truths are always a big red flag.
     
    #21     Oct 8, 2023
    semperfrosty and johnarb like this.
  2. ph1l

    ph1l

    The Lightning Network has technical and legal problems.
    https://unboundedcapital.com/blog/why-lightning-doesnt-work
     
    #22     Oct 9, 2023
  3. johnarb

    johnarb

    #23     Oct 9, 2023
  4. johnarb

    johnarb

     
    #24     Oct 9, 2023
    semperfrosty likes this.
  5. johnarb

    johnarb

    #25     Oct 9, 2023
  6. johnarb

    johnarb

    PTJ likes Bitcoin and Gold

     
    #26     Oct 11, 2023
    semperfrosty and jbusse like this.
  7. johnarb

    johnarb



     
    #27     Oct 11, 2023
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  8. johnarb

    johnarb

    Physical gold vs self-custody bitcoin

     
    #28     Oct 13, 2023
  9. Excellent post! Nicely done! :thumbsup:
     
    #29     Oct 13, 2023
    jbusse and johnarb like this.
  10. LFG! 1
     
    #30     Oct 13, 2023
    jbusse and johnarb like this.