Why can 10,000 BTC buy 60 million pizzas right now? Why does it not still cost 10,000 BTC for 2 pizzas? Please explain this to me without comparing the value of pizza to anything other than BTC.
"If you think you actually own the crypto you buy on Coinbase, you are absolutely wrong." ...?
- Thread starter easymon1
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Why can 10,000 BTC buy 60 million pizzas right now? Why does it not still cost 10,000 BTC for 2 pizzas? Please explain this to me without comparing the value of pizza to anything other than BTC.
K
krugman25
What does a person use to buy Bitcoin with?
Bitcoin. (Setting the snare for the trap. Don't fall into it.)
K
krugman25
Ah, really. So a person buys Bitcoin with Bitcoin?
Bitcoin is bought with fiat. If you can buy Bitcoin with fiat then why cannot not sell it back to fiat?
No, the Bitcoin network isn't going to be used for micro payments. That has been a well known fact and accepted by Bitcoiners for years. Bitcoin doesn't need to live in a world where the dollar disappears. Bitcoin needs to hold (and gain) value against the dollar which it's done a fine job doing.
Clearly.
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Ah, really. So a person buys Bitcoin with Bitcoin?
Bitcoin is bought with fiat. If you can buy Bitcoin with fiat then why cannot not sell it back to fiat?
No, the Bitcoin network isn't going to be used for micro payments. That has been a well known fact and accepted by Bitcoin for years. Bitcoin doesn't need to live in a world where the dollar disappears. Bitcoin needs to hold (and gain) value against the dollar which it's done a fine job doing.
Clearly.
So you are buying BTC with fiat. So what purpose does BTC have outside of fiat?
Nothing, because without fiat, BTC is worthless. BTC is basically a crazy form of FOREX, but based on nothing but pizza value, which is priced in fiat.
Nothing is priced in BTC, because without fiat, there is NO BTC value.
K
krugman25
Bitcoin buyers are buying a share of the network. Why are people not allowed to do that? Because a nocoiner who knows almost nothing about bitcoin and blockchain tech said so? Ok, lol.
Is this a pic of you?
That's a strawman and you know it.
Everything you say about BTC I can say about gold.
You are not as smart as you think.
i may be new to crypto, but i keep thinking this.
"what everyone knows is not worth knowing."
right now, i dont know much, and it appears few do as well, which leads me to believe, there is more expected return to be made until otherwise.
although, venmo, and visa are getting involved which makes me want to own as much of some particular coins because when everyone is swapping $20 here and there, I'll be happy with the value of the treasure chest of coins.
fiat sucks, it always has. fiat does not make wealth, it's the medium of exchange created by a king who wanted his face on a coin so soldiers did not have to carry food from town to town and the king could collect tax revenue.
"what everyone knows is not worth knowing."
right now, i dont know much, and it appears few do as well, which leads me to believe, there is more expected return to be made until otherwise.
although, venmo, and visa are getting involved which makes me want to own as much of some particular coins because when everyone is swapping $20 here and there, I'll be happy with the value of the treasure chest of coins.
fiat sucks, it always has. fiat does not make wealth, it's the medium of exchange created by a king who wanted his face on a coin so soldiers did not have to carry food from town to town and the king could collect tax revenue.