[quantadev]

I can almost guarantee you most everyone who owns BTC will be 100% in favor of anything that will drive up it's price, because they falsely equate it's price as it's value. It has zero value despite it's price, just like beanie babies and Tulips always did.

[peterldowns]

You're wrong — I own BTC and believe in the value of cryptocurrencies, but I am opposed to the US government doing this with my tax dollars.

[quantadev]

I'm still correct, because I said "most".

[goosejuice]

How are you defining value here?

[quantadev]

Everything that hodls it's desirability even after a grid-down scenario.

[goosejuice]

In such a scenario you wouldn't be able to use fiat either. Guns and food would be of greatest value. Maybe we should just reserve guns and ammo?

[quantadev]

I never claimed fiat was an asset. Nobody considers cash an asset.

I'm a software developer since 1990 so I recognize the value of blockchain technology, but I'm also smart enough to know a number in a computer ledger is not an asset.

[desumeku]

Your idea of value is completely and utterly disrupted from the rest of the world, then.

[quantadev]

I can't think of any assets that exist only in cyberspace. But even if you assert that grid-independence is not important, you're still stuck making the false claim that there's any scarcity in cyberspace. New crypto-coins can be created at the press of a button, thus your whole entire faith and hope is that everyone will always use Bitcoin, which is provably false.

[desumeku]

>New crypto-coins can be created at the press of a button

Oh? Can you prove this? How are you capable of creating new Bitcoins without mining them? Surely this big secret you have should be worth sharing.

[quantadev]

The very fact that you're trying to pretend you conflated the words "crypto-coins" with "Bitcoins", as if you did it by accident (which you did not), proves my point better than I ever could have; because the entire [false] premise of scarcity among the Hodlers depends on having no other coins ever become popular.

[darthrupert]

I also own some and am very suspicious and a bit nervous that USA is getting in on it. Especially with the current administration.

[quantadev]

The very fact that new crypto coins are about to be (or even ever could be) sanctioned by different governments/nations, is proof positive that the concept of scarcity is a myth.

Even Diamond-Hands Hodlers all admit that without scarcity there is no value either.

[3np]

Not at all following how presence or possibility of sanctions supposedly invalidate scarcity as such. How does it follow? I think you are confused.

[quantadev]

There is scarcity in BTC, but no scarcity on Cryptos. Every BTC investor/hodler is betting the farm that BTC will be the dominant crypto forever. BTC is very similar to a cult or Ponzi scheme where you only achieve your goal if you can convince others to join.

Why do you think nearly every BTC Maxi will claim all other coins are "Sh|t coins"? ...including coins/blockchains that are running identical code to BTC?

[desumeku]

There is scarcity in USD, but no scarcity on Fiat. Every USD bond investor/hodler is betting the farm that the USA will be the dominant nation forever. USD is very similar to a cult or Ponzi scheme where you only achieve your goal if you can convince others to join.

Why do you think nearly every USA Maxi will claim all other countries are "Sh|t countries"? ...including nations/currencies that are using identical macroeconomics as USD?

[quantadev]

I never said Fiat was an asset. You keep pretending like I'm some kind of Fiat advocate and I'm not. I just believe in real assets not make-believe ones, backed by nothing but faith.

Perhaps a good definition of the difference between currencies and assets is that currencies are backed by faith, and assets are backed by physical reality. (However that's a "necessary but not sufficient" definition, so it's only part of the definition, not the complete definition of course)