21–30 of 77 posts
Earlier quoted context omitted.
What value does it provide?
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
Earlier quoted context omitted.
What value does it provide?
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
Earlier quoted context omitted.
What value does it provide?
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
I had always thought of BTC in terms of an alternate currency but I watched a video yesterday with Saylor where he pitched it instead as a store of value. While the concept was not new to me, it was a really interesting video and he did a good job with it. BTC will not replace the dollar, but its probably going to eat gold.
Earlier quoted context omitted.
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
It's desirable by people who have it - that's not the world. That's people who have stake in the game.
Earlier quoted context omitted.
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
To me it's never been that "intrinsic value" of Bitcoin makes much sense, but that it holds up a mirror to the incumbent system and how little that makes sense either!
Earlier quoted context omitted.
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
It's desirable by people who have it - that's not the world. That's people who have stake in the game.
Earlier quoted context omitted.
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
It's desirable by people who have it - that's not the world. That's people who have stake in the game.
Further, the same has been true for the Argentinian Dollar for decades.
Many other currencies that I could name as well.
I had always thought of BTC in terms of an alternate currency but I watched a video yesterday with Saylor where he pitched it instead as a store of value. While the concept was not new to me, it was a really interesting video and he did a good job with it. BTC will not replace the dollar, but its probably going to eat gold.
My only issue with that is, it's behavior over the past 15 years seems to have a lot of interest rate risk built into. The thing about gold is historically it has been a store of value that is independent of interest rate risk, and I'm just not seeing much evidence that BTC is also orthogonal to interest rates. When rates went up, BTC went down. When interest rates were low, BTC also mostly climbed. If I want exposur…
With that said; there are few other assets that have accumulated this much value over their initial existence. BTC market cap just passed silver. Gold is a 10x away. So yes it absolutely has volatility but the greater trend is exclusively up with little sign of stopping.
Earlier quoted context omitted.
It's desirable by people who have it - that's not the world. That's people who have stake in the game.
Totally valid, but more and more people want it every day and are buying it. The new etf's have provided them with an alternate method of doing so and are currently the most successful ETF launch of all time. The daily demand of the ETF's far outstrips the number of new coins generated weekly. Add in the fact that that newly generated supply is getting halved in a few weeks and you have a good outlook for BTC pricing…
This is incorrect. From Coinbase SEC filings, retail trade is 1/8 of what it was in 2021, last time the price was this high.
Even as the price has risen over the course of the past year, less and less people have wanted bitcoin every day. We have the numbers on this from the largest actual-dollar crypto exchange.
Miners have hoarded coins since 2021 because if they sold them the price would cash. They took out loans against their mark-to-market value instead. (Two such lenders were Silvergate Bank and Signature Bank.) When you see sudden multi-thousand dollar crashes in the bitcoin price, it's often a miner having to dump.
The ETFs have taken in $10b net in their entire existence, and a lot of that seems to be churn from other bitcoin-exposed securities.
It's not clear you're informed on the market you're expounding on at such length.