Hacker News new | ask | show | jobs
by noxer 1791 days ago
I called out whats wrong in your logic. I never claimed anything about fiat/stock or whatever. Its irrelevant, the only point you made FOR bitcoin (namely that no one can take it away from you) is moot because the value can still go away there is just no one to sue/blame if it happens.
1 comments
cwkoss 1791 days ago
You missed the point.

Bitcoins value can go to zero.

Stocks, bonds, cash: all monetary instruments' value can go to zero. Non-crypto assets can also be taken from you against your will.

Part of why Bitcoin is valuable is because it cannot be seized without consent of the owner (if owner is diligent about security).

Your criticism of Bitcoin broadly applies to all forms of "saving money" or preserving value. Value can go away from any vehicle you park your money. Your argument essentially boils down to "I believe Bitcoin in particular will crash more than other monetary instruments, so it doesn't have value" - which could be correct and you could short BTC if you feel confidently about that, but I wouldn't recommend it.

link
noxer 1790 days ago
No you missed the point. There was never any comparisons between BTC any other "money". There was just your claim that no one could take away you BTC which is true but irrelevant because you dont want the BTC you want the value. Which can be taken away form you any time. It doesn't matter that this is true for other money types as well. You specifically said that his is unique to BTC but its not true. No one said the claim you made is true for other types of money. Its just wrong for BTC.

>Your criticism of Bitcoin...

No, it did not it pointed out the flaw in your claim. Your logic is nonsense. Thats not a critic on BTC at all.

>Your argument essentially boils down to "I believe Bitcoin in particular will crash more than other monetary instruments, so it doesn't have value"

Again no, that was not my argument nor what I said and not even implied. You make shit up on the go to deflect from what I actually said which has nothing to do with bitcoin but everything with your nonsense claim t which you already agreed on that is is wrong as you said ... >"....applies to all forms of "saving money" or preserving value."

link