Definancialization / Hyperfinancialization

Post by dkjaudyeqooe » Sun, Feb 09, 2025, 4:01 PM UTC

rikafurude21 wrote: post #4

dartos wrote: post #2

Two questions for the author, You say bitcoin can’t be debased. How is that true? Aren’t there a few big holders of btc? If they decide to exit all at once wouldn’t the value crash? And in the last paragraph you mention “the core value proposition of bitcoin” What do you believe that is?

Those "few big holders" havent created any of their own BTC, they just own a part of the 21 million BTC that can exist- if they sell, sure the price might fall, but its not debasement like with the USD where they just print more dollars, 'out of thin air'

Post by rikafurude21 » Sun, Feb 09, 2025, 5:38 PM UTC

dartos wrote: post #8

rikafurude21 wrote: post #4

Earlier quoted context omitted.

Those "few big holders" havent created any of their own BTC, they just own a part of the 21 million BTC that can exist- if they sell, sure the price might fall, but its not debasement like with the USD where they just print more dollars, 'out of thin air'

Is there a practical difference? “The price may fall” is a nice way to say “the value would be mostly erased” Like with any store of value, the value of bitcoin is backed by the fact that people believe it holds value. Unlike gold, however, bitcoin has no practical value in and of itself. (Gold, at least, looks pretty and doesn’t really decay. It’s a great conductor of electricity too) Bitcoin also isn’t as eternal a…

Post by rikafurude21 » Sun, Feb 09, 2025, 6:45 PM UTC

20after4 wrote: post #15

rikafurude21 wrote: post #14

Earlier quoted context omitted.

“the value would be mostly erased” implies that the price goes down to 0, which is alot more extreme than price fluctuation. Gold wouldnt survive your doomsday scenario either, if youre going that far to find the fault in bitcoin then you will also have to concede that your gold is just going to be a metal, worthless in a scenario where guns and bullets mean holding power, no matter how pretty it looks or which techn…

So perhaps bullets would be the best store of value?

Post by dartos » Sun, Feb 09, 2025, 8:03 PM UTC

20after4 wrote: post #15

rikafurude21 wrote: post #14

Earlier quoted context omitted.

“the value would be mostly erased” implies that the price goes down to 0, which is alot more extreme than price fluctuation. Gold wouldnt survive your doomsday scenario either, if youre going that far to find the fault in bitcoin then you will also have to concede that your gold is just going to be a metal, worthless in a scenario where guns and bullets mean holding power, no matter how pretty it looks or which techn…

So perhaps bullets would be the best store of value?

Post by dartos » Mon, Feb 10, 2025, 3:14 AM UTC

rikafurude21 wrote: post #19

dartos wrote: post #17

Earlier quoted context omitted.

> “the value would be mostly erased” implies that the price goes down to 0 No, it means the value would be much much closer to 0 than it is now. That’s why I said “mostly erased” and not “entirely erased” > Gold wouldnt survive your doomsday scenario either Yes it would… if the internet goes down, gold will still “survive.” It’s not going anywhere… > if youre going that far to find the fault in bitcoin then you will…

inherent value as a material assuming there is a market to sell it at, no? We were talking about your doomsday scenarios, no internet and all, which means there wont be a market. So yes, even if it "survives", its just a metal. No inherent value except maybe when civilization is rebuilt we can use it to make technology. Historically gold was valuable because it was somewhat rare and you could barter with it.