131–137 of 137 posts
IMHO there's only one thing that makes Bitcoin valuable and that's human emotion. And people LOVE Bitcoin, forever.
They love it until they loose. It's same with the casino.
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Gold is almost worthless but people just don't want to accept that because governments still use it as a form of currency. Credit rating agencies are using gold reserves(among other things) so this could be a reason
This is the second time today I’ve seen someone say that governments use good as a currency. What governments do this?
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They love it until they loose. It's same with the casino.
Sure, and casinos are insanely profitable. Unless you fiddle with them too much. One can bankrupt a casino, but it takes a certain insanity.
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This is the second time today I’ve seen someone say that governments use good as a currency. What governments do this?
Usually countries without access to financial markets(i.e Syria, Iran, Venezuela). The credit rating of countries is based on their gold reserves as well so if you have gold you get cheaper loans. https://en.m.wikipedia.org/wiki/Gold_reserve
As far as I know, none of those countries promises to redeem bearers of banknotes with an equivalent value in gold, which is what being on a gold standard means[1].
Plenty of central banks have gold reserves, that's basically a vestige from the past, but that's not the same as saying the currency is backed by gold.
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This strikes me as a somewhat semantic argument. Many stocks don't pay dividends. Flipping houses would also fall outside of your definition of investing. Buying gold has also been a relatively safe "investment" strategy as well, speculation or not. Every form of investment is, at its core, speculation on some level. If i pour my savings into Apple and they tank, the dividends would pale in comparison to my losses.
Stocks that don't pay dividends are absolutely speculations. Flipping houses is absolutely speculating in real estate if you neither occupy them nor rent them out during the time you own them. Not all forms of investment are speculations at some level. If I own a landscaping business and invest in a truck, I can drive it until it goes to the junkyard. I generate a return that hopefully offsets the depreciation, and I…
All investment is speculation. Bitcoin is no different in that regard to stocks of any kind.
Solid source.
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Sure, and casinos are insanely profitable. Unless you fiddle with them too much. One can bankrupt a casino, but it takes a certain insanity.
The casino can refuse to pay so I doubt one can bankrupt a casino.