Your Mom is too. Yet I’m still seeing her for free
(BTW, you’re just wrong. If something being a limited resource that can be exchanged for services and goods means it is unstable, why aren’t we seeing that with Euros? Dollars? HUF? insert currency here?
which can be exchanged for other things of value
…yet if we look at the triangle of investment, it neither has stability, nor has it got good liquidity, leaving only profitability. And since the job of a currency is being stable and liquidible, it fails at those completely.
Dollars and Euros and other currencies are not a limited resource, nor are they based off of any kind of limited resource. They literally just print more whenever they want.
There will only ever be 21 million bitcoins. There can never be more than that. Of that 21mil, 19.8 million have been mined. Of those mined, it is estimated that 2-4 million coins are lost. More can not be created, more can not be found in an asteroid, more can not be wished into existence. It is a limited resource.
But if Bitcoin is always going to go up in value, why would it make sense to spend your USDs buying goods and services instead of using them to buy Bitcoin and increasing the value of that capital?
But if they’re not buying things to buy bitcoin because they want to get returns off their bitcoin then they’re literally doing the exact opposite of buying things with bit coin
I don’t trust the Trump administration to not try and kill off the dollar. Bitcoin exists because issuers couldn’t be trusted during the Great Recession.
Bad joke
Your Mom is too. Yet I’m still seeing her for free
(BTW, you’re just wrong. If something being a limited resource that can be exchanged for services and goods means it is unstable, why aren’t we seeing that with Euros? Dollars? HUF? insert currency here?
…yet if we look at the triangle of investment, it neither has stability, nor has it got good liquidity, leaving only profitability. And since the job of a currency is being stable and liquidible, it fails at those completely.
Dollars and Euros and other currencies are not a limited resource, nor are they based off of any kind of limited resource. They literally just print more whenever they want.
There will only ever be 21 million bitcoins. There can never be more than that. Of that 21mil, 19.8 million have been mined. Of those mined, it is estimated that 2-4 million coins are lost. More can not be created, more can not be found in an asteroid, more can not be wished into existence. It is a limited resource.
That doesn’t help with the buying things part though.
Why would anyone buy anything with it when tomorrow they could have bought ten of the thing they bought today?
Because people need things and to get them they have to buy them?
They’d be insane or desperate in extremis to use bitcoin though, given the volatility of the “currency”.
In the short term, maybe.
But if Bitcoin is always going to go up in value, why would it make sense to spend your USDs buying goods and services instead of using them to buy Bitcoin and increasing the value of that capital?
So we’re back to bit coin has no intrinsic value.
No we aren’t…
We’re back to: people would spend it in order to buy things
But if they’re not buying things to buy bitcoin because they want to get returns off their bitcoin then they’re literally doing the exact opposite of buying things with bit coin
They are limited by an authority which you can trust will not try to kill it off. So I kinda see it as more of a feature than a bug.
Also, dosent answer all the other arguments I just posted
I don’t trust the Trump administration to not try and kill off the dollar. Bitcoin exists because issuers couldn’t be trusted during the Great Recession.
So they’re artificially limited, so long as that trust exists.