[jiveturkey]

so wrong.

>unlike literally all other commodities on earth, the supply of bitcoin is truly constrained

BTC is not a commodity, so there's no point comparing it to "other" commodities, of which in fact there are true constraints.

> cannot be anymore made in response to demand above the normal rate of inflation.

above? BTC does not track "normal" rate of inflation.

the only reason BTC has value is because it can be swapped for fiat currency. it will never be its own "thing".

> Bitcoin is a social phenomena - no government or company backs it.

This is almost correct. China controls >50% of mining resources, much more in fact. 65%. If and when it suits them, they can ruin it.

[alwillis]

There have been major investments to bring bitcoin mining back to the US, including partnerships to use natural gas and oil to power such mining: https://www.coindesk.com/us-becoming-bitcoin-mining-power-ag...

the only reason BTC has value is because it can be swapped for fiat currency. it will never be its own "thing".

Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. It’s an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally.

This makes bitcoin it's own thing. It's early days, but satoshi's (1/100,000,000 of a bitcoin) are already the standard for a variety of transactions.

Bitcoin is already a store of value and we can transact in it; it's just a matter of time before it becomes a unit of account.