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by toolz
1466 days ago
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> Crypto isnt like gold: there isnt a limited supply. There is a much stronger guarantee that there is limited bitcoin when compared to gold. We have no idea what tech advancements will allow mining gold from comets or neighboring planets. A bit more far fetched, but maybe not impossible in the future would be changing other elements into gold. Bitcoin has a codified contract that is being upheld socially with vast amounts of resources proving that society agrees on the limited supply. Sure, you can fork the codebase and create another chain. That has happened many times, which just proves a new chain does not do anything to the agreed upon, codified, limited supply of bitcoin. As for your other points, they're presented constantly as serious arguments and debated ad-nauseam. Either you've just not witnessed it, or you're just trying to present things as uncontested facts which appears disingenuous and does not strike me as an honest argument. |
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Either bitcoin is a deflationary currency, in which case it repeats the servre financial crises of the 19th C. and early 20th C. in which an economy is imprisoned into a rate of inflation set by blind non-economic forces. In which, as an economy, is horrifying: consumer protection is impossible by design, the owners are the controllers (feudalism), it's entirely public (so you're entire economic life is available to be profiled by used by others), etc.
Or its an asset. If it's an asset its a ponzi scheme.
It's clearly mostly being held as an asset, and traded as an asset by criminals and dictators because it has some ponzi-value. This ponzi-value will disappear as soon as anyone actually tries to use this as a serious currency, as with someone planting a tulip bulb for the flowers... no one wants tulip flowers (lol).
No one wants an incredibly deflationary economic system, controlled by the holders of coins, forked on behalf of the landed gentry, with one's private economic history plastered across the whole internet, with incredibly slow transactions, with immutable histories, and so on.
As soon as anyone actually "plants the tulip bulb" crypto is, quite seriously, f*ked. No one wants tulips. If I were holding crypto the last thing I'd do is actually try to get any one to take is seriously as a currency.
The number of delusional far-right libertarians who dream of being feudal lords is the c.5% of young angry men it's always been. And likewise, if they ever achieved anything, the state would put a stop to that immediately. No one wants your tulips. But i'd just love to see you plant them!
Go, run something on bitcoin, you'd wipe crypto off the map over night.