Fundamental value of Bitcoin
- Thread starter JackRab
- Start date
L
lovethetrade
"Many people think that bitcoin is a bubble, and that's predicted on the concept that bitcoin has no value. But there's reason to believe that that just isn't true.
By definition, bitcoin is scarce. And the cryptocurrency may have utility as a superior way to store and exchange wealth."
https://www.cnbc.com/2018/01/16/skeptics-say-bitcoin-has-no-value-heres-why-theyre-wrong.html
By definition, bitcoin is scarce. And the cryptocurrency may have utility as a superior way to store and exchange wealth."
https://www.cnbc.com/2018/01/16/skeptics-say-bitcoin-has-no-value-heres-why-theyre-wrong.html
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Bought* at 14K now at 12K, some superior way. On the other hand nice, shiny collector's item, if we keep moving the goalpost I mean redefining the purpose of it.
*Just making a point.
Exactly, transferring money from the poor (buyers since the last 12 months) to the rich (HODL).
But I don't know if that is exactly a good point of crypto's. Good for the rich, bad for the poor.
As crypto's are more or less anonymous we will not see anymore how filthy rich the rich are.
The only reason to see how rich someone is, is if you intend to steal from them... Otherwise, it is none of your business...
This is why cryptos are good for the poor and for the rich that earned their money and bad for the "rich that don't deserve their wealth"(government officials and corrupt individuals/companies that got rich through government). In the current setting, the last group can steal from the first two groups because of lack of anonimity, whereas with cryptos and their anonimity, the thieves are fucked and the ones being stolen can finally keep what is rightfully theirs.
The only reason to see how rich someone is, is if you intend to steal from them... Otherwise, it is none of your business...
This is why cryptos are good for the poor and for the rich that earned their money and bad for the "rich that don't deserve their wealth"(government officials and corrupt individuals/companies that got rich through government). In the current setting, the last group can steal from the first two groups because of lack of anonimity, whereas with cryptos and their anonimity, the thieves are fucked and the ones being stolen can finally keep what is rightfully theirs.
Wrong. OK, now I understand why all criminals use or at least used bitcoins.
I read at least 1 time every month about drugsdealer that got rich and used bitcoins to hide their fortune. They probably made honest money too.
In the US a Russian guy is in prison for money laundry a few billion $ thru crypto's.
Crypto's generated a lot of criminality just because of the anonimity.
I agree about politicians.
And as a fulltime trader I am not jealous about other people as I am not really poor and live a good life. So my posting was not based on jealousy.
Actually, you are wrong. "Criminal" is a relative concept... What is a criminal in one country is a law abiding citizen in another(easy to see with different drug policies in different countries), so, again, the problem is that government sustains/creates drug dealers by criminalizing drugs(nobody would ever know who Pablo Escobar was if the U.S. hadn't made with cocaine and other drugs, the same stupid mistake it made in the 20's criminializing alcohol). Money laundering is another example: it is made up. Aside from the already mentioned drug issue, if government wasn't always trying to steal from it's citizens increasingly bigger sums of money and enforcing protecionism on it's borders, there would be no money laundering.
In a nutshell, all this nonsense is again a consequence of government doing what it shouldn't do.
So again, cryptos are the solution to the problem because they take power away from government.
Then we should ban all paper money everywhere since "criminals" use that FAR more than cryptos.
What'd think not jealous one?
cungrats on yer hodl from 20k!!! the bottum is in