History shows that there have been various forms of money. Big round rocks and small little glass beads. So money can be anything that the majority of people will accept. You're welcome to be the last guy riding the horse or the last person with a newspaper subscription.
Math won't help you understand Bitcoin
- Thread starter wxytrader
- Start date
"Math won't help you understand Bitcoin."
Right. Only Jack's magic beans can do that.
Right. Only Jack's magic beans can do that.
Go ahead, give those a try and let me know how it goes.
Baron
ET Founder
If every person who ever had a single Tether used it only to buy bitcoin, it would still only make up about 7% of BTC market cap, so I don't understand this "ponzi via Tether" scenario at all.
Baron
ET Founder
You are coming across as just being argumentative without merit and it's getting old. If you're going to contribute something substantial and data-driven to support your opinions, then please do it and stop posting one-liners that have absolutely zero value. The fact of the matter is that you don't own bitcoin, you have no intention of ever owning it, and you have no desire whatsoever to understand it enough to create a compelling argument against it aside from calling it names and submitting one-sentence posts. Please stay out of these BTC conversations because just arguing nonstop with everybody via 8-word jabs is not going to cut it moving forward.
Currencies are backed by their respective governments; some better some worse. But they are backed. Crypto is not backed by anything. They float and rise on enthusiasm and a desire to become rich quick and easy. Which is fine, but that doesn't make it a currency. It is not being used as a medium of exchange, and no one is buying it with that intention. Like fashion, it will go out of style because enthusiasm will wane. Some day in the foreseeable future it will become as embarrassing as the polyester bell bottoms that were all the rage in the '70s.
Frankly, I can't believe you bought into it. That you're making money in it as the ridiculously speculative instrument that it is, is great. Good for you. But that you actually bought into the religion boggles my mind to no end. It really does. Is one of your sponsors paying you in btc or some such?
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But continuing references to "2008 Lambos" and "have fun staying poor" are advancing the discourse?
The arguments for this shit are so mid-numbingly puerile, and cultists keep posting them over and over again, but you're now effectively warning me to back off? Forgive me if I'm out of key with the choir.
Feel free to ban my nic if it suits you.
Doesn't it fluctuate too much to be considered a store of value.
If you know that you need 100k a year from now where do you put your 100k today?
I'd put it in cash or equivilent. I certainly would not put it into BTC.
I would class BTC as a risk asset, not a store of value.