You bet I am!! I'm HODLing my cash. I'll maybe buy bitcoin when it turns but right now my store of value is dollars. Us chichens run quickly and still have the same liquid net worth we had in January.
a crypto backed by gold is gold not crypto no one will pay a premium for it they will only pay a premium for worthless crap . this has be illustrated quite well
You don't see the technological advantage over other currencies that are managed so that supply always increases and new currency units always go to a favored class? Seriously? Or the nearly 0% fee for transfers compared to 2.7% charged to merchants by banks? Or the fact that there is no central authority that can freeze and seize currency units? To answer all your other questions you have to ask why gold has maintained value for thousands of years. It too is useless. Yet it's maintained purchasing power. The reason is pretty simple.
deaddog read the book "Layered Money", but he prefers the fiat slavery system deaddog thinks he's too small a fish and can hide out in the crowd as long he does not rock the boat and can earn his profits to beat the inflation rate
Guys, why do you keep arguing with @deaddog ? At this point, he is just pulling everyone's leg. He keeps asking the same shit over and over again. How do I price it? Where does the value come from? We have told him a million times and he either doesn't get it and never will, or is literally wasting our time. I honestly don't know who is crazier at this point. Him for sounding like a broken record with the same excuses on repeat, or the rest of us trying to actually answer him yet again. I am in the middle of reading The Bitcoin Standard, and even before getting to the bitcoin part, when you learn about the history of money, you see so clearly why fiat is such a failed proposition and has failed every single time. He said he was reading the book, so he is either lying, or beyond clueless. The fact that he seems to trade profitably makes me think he can't be that dumb, so the only option left is that he is just playing with everyone. Honestly, talking to him about bitcoin is like going to a nursing home and arguing with old people who can't even hear anyway.
Most people miss the boat on most paradigm shifts in history. It is indeed stupid to even have this discussion in a public forum. Talking about it won't somehow make it different this time and cause people to suddenly see what is happening. They will only see it after the fact.
Bitcoin starts on Chapter 8. Layered Money is a good companion to "The Bitcoin Standard" goes in detail of how our current fiat-based financial system works
You are starting to lose me. Favored class? Everyone uses currency. How about your bitcoin whales? Who is going to be filthy rich when bitcoin goes to the moon? In order to transact with bitcoin you have to have a computer, smart phone or something similar. How much of the population does that eliminate? 0 transfer fees? Have you run across any merchants that are giving you a discount for using bitcoin? I have for using dollars. Gotta agree that having no central authority might be a good thing, but the other side of the coin is it's nice at times to have that trusted third party who can reverse a transaction if you make a mistake or get scammed. But that's where I see the difference. Gold does have other uses. Try giving solid bitcoin jewelry to someone special as a gift and watch them show it off. How about bitcoin tipped electronic connectors, ever hear of them.