Hacker News new | ask | show | jobs
by quantadev 473 days ago
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.
1 comments
3np 473 days ago
Not at all following how presence or possibility of sanctions supposedly invalidate scarcity as such. How does it follow? I think you are confused.
link
quantadev 473 days ago
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?

link
desumeku 473 days ago
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?

link
quantadev 473 days ago
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)

link
desumeku 473 days ago
Are stocks, securities and ETFs backed by "physical reality"? Are treasury bills and bonds? If you are a goldbug who just thinks we should all be using gold, you should probably say so.
link
quantadev 473 days ago
You realize stocks and securities are a part ownership in a company right? lolz. So yeah stocks are backed by physical reality. Maybe you can research what ETFs, and those other things are on your own time, since you apparently don't know.
link