If that doesn't worry you...

[TheDawn]

The idea of having transaction that elude the purview of the central bank may sound attractive. However, traceability may not be such a bad thing if accounts are hacked.

Yeah if you are not Jason Bourne or Rambo, it helps that the government knows where you are and who you are.

 

[Peter8519]

Crypto is not gold. Gold has limited supply whereas crypto's as a collective asset has actually infinite supply (it takes about 5 minutes nowadays to create a new crypto coin) and that's why it will never be able to serve the same purpose of being a store of value like gold. You can invest in it, that's cool but just remember it's just another tradable commodity.

There maybe around 21 million bitcoin in circulation. It can't be a global currency for 7 billion people unless each bitcoin be split into smaller unit. This is another way of debasing bitcoin. Alternatively, just have more type of crypto which is already happening now.

 

[VicBee]

Crypto is not gold. Gold has limited supply whereas crypto's as a collective asset has actually infinite supply (it takes about 5 minutes nowadays to create a new crypto coin) and that's why it will never be able to serve the same purpose of being a store of value like gold. You can invest in it, that's cool but just remember it's just another tradable commodity.

BTC has a limited supply and is expected to stabilize as that limit is reached.
I admit, I know nothing about monetary mechanisms and policies. I like blockchain tech primarily from a logistics and supply chain angle where I can see clear optimizations.

 

[Overnight]

Yeah if you are not Jason Bourne or Rambo, it helps that the government knows where you are and who you are.

Gosh I love the end of that one film.

 

[Peter8519]

Thanks for that article and the ammo it provides me for my argument. When reading the Right (Sacks clearly is), these poor blue collar truckers only wanted to express peacefully their disagreement with the government of Canada.
The level of hypocrisy is over the top. Facts are, those truckers who blocked the roads, the bridges and access in and out of cities for refusing to comply with government mandated covid vaccination represent less than 10% of the Canadian trucking industry. This compares to the 10-15% of far right party voters in Western nations; the point being that no, democracy doesn't shatter because of its fringe elements who despise democracy.
Three other points about the trucker protest; 1. The local population affected by the protest was beginning to voice their frustration and counter protesting the truckers and 2. Some of the leaders of the protest are known secessionists vying for their acre of supremacist land in the Canadian forest. 3. The protest could only be maintained because of foreign monies sent by the US fringe right.
To sum it up, there is very little popular rejection of the Canadian government, or Trudeau's actions, except in the minds of alt right and libertarian activists.
The cherry on the cake is demonstrated by the journalist who links the truckers protest to the sanctions against Russia (sorry Putin, it's so unfair!). Seriously can Putin not have the right to express his opinion by going to war with Ukraine?

The fringe right in the US has spent the last 10 years trying to use democratic arguments to validate their bigotry, racism and radical views. Your right to fight racism gives me the right to promote it, their argument goes. Relativism has become the norm, not only on the left but, incredibly, on the right as well.

If given enough power, human can do crazy things. In the past, Alexander the Great just kept conquering in his quest to build his empire. Any wrong with that ? There was no smartphone to capture his actions back then. I am sure we will be horrified by his actions.

 

[TheDawn]

BTC has a limited supply and is expected to stabilize as that limit is reached.

I meant crypto as a collective asset, not just one crypto. Any particular coin can be easily replaced by another and BTC is no exception.

 

[VicBee]

If given enough power, human can do crazy things. In the past, Alexander the Great just kept conquering in his quest to build his empire. Any wrong with that ? There was no smartphone to capture his actions back then. I am sure we will be horrified by his actions.

Yes, but that's not how history is read. Alexandre was but one of many who conquered the world and its riches. The history of nation building is one of slaughter to the top job, and still is in some parts of the world.
Modern Europe is a model of intellectual recognition that wars are barbaric and we ought to resolve our disputes in other ways. Uniting formerly waring nations, replace national currencies and allowing a supra government to legislate for all is an incredible model that has shown remarkable resiliency despite the successes of right wing nationalists.

 

[Tokenz]

I meant crypto as a collective asset, not just one crypto. Any particular coin can be easily replaced by another and BTC is no exception.

Yes it is. Since Bitcoin is an established crypto everyone knows as a 'Store of value'. It's digital gold.

 

[TheDawn]

Gosh I love the end of that one film.

And we didn't know at the time that it's actually part of the next movie. It's amazing they could spin FIVE movies out of the franchise.

 

[Ed48]

Crypto is not gold. Gold has limited supply whereas crypto's as a collective asset has actually infinite supply (it takes about 5 minutes nowadays to create a new crypto coin) and that's why it will never be able to serve the same purpose of being a store of value like gold. You can invest in it, that's cool but just remember it's just another tradable commodity.

No but Bitcoin might be. Using the metal analogy, ETH might be like silver.

Others can be considered to be like base metals, in that they have some value. Copper clearly has value but you probably wouldn't use it as a SoV.

Obviously some coins are just worthless shit (metal colored plastic).