151–160 of 343 posts
I assume this is because of Musk's love of crypto and his expected high position in Trump's new government, compared to the Democrats who wanted to regulate cryptocurrencies like any other security.
It has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
I have it charted against the Malaysian Ringgit. It was 347k BTC/MYR high this year, compared to 326k today.
Soon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.
The real use case is self defense against the arbitrary devaluation of fiat currency. As wildly imperfect as crypto is at that task, it's the best we have in a fungible, digital form. So pessimistic investors flee to it. The worst case for a crypto investor is for the dollar to be restored to a stable store of value. To outcompete crypto, just whip inflation.
Earlier quoted context omitted.
What's the scenario where the government can take the digital money from your bank accounts but can't take the digital money from your crypto wallet?
Any scenario where you're sufficiently careful with your private keys.
Anybody have a reliable, up-to-date pc build guide, for a full node? I find very fragmented information everywhere. I get that "most pc's can run Bitcoin core" but I'd like some more detailed information.
> I get that "most pc's can run Bitcoin core" Is that true though ? I find that it doesn't take much CPU or bandwidth to run a node, as long as you limit the number of incoming peers. Disk space (if you keep the full historical chain) is a bit more (three quarters of a T), but these days, that's fairly cheap.
Earlier quoted context omitted.
> (inflation is everywhere and always a monetary phenomenon - the result of too many units of currency chasing too few goods and services, almost always a result of rampant currency debasement, not possible with bitcoin's hard-coded 21 million cap) Except when it's not, like in Japan which has had a growing money supply but near-zero inflation—and even bouts of deflation—over the last few years/decades: * https://fre…
I haven't read your entire reply, but the top link has a graph relating CPI with M2 if I'm not mistaken. Is'nt CPI a terrible measurement since it uses units that change constantly. Bit like measuring distance with a meter stick that changes in length everyday.
CPI's "units" are what people buy in day to day life. It has to change because it is a model of what is happening in the real world, and while imperfect that doesn't mean it's not useful:
* https://en.wikipedia.org/wiki/All_models_are_wrong
* https://en.wikipedia.org/wiki/Map–territory_relation
As a Canadian, StatCan regularly changes what's in the CPI basket of goods in my country, and that is a good thing. Because if they didn't, then we'd still be looking at video rental prices (removed in 2015), 35mm film (2013), and going back further lard (1967):
* https://www.statcan.gc.ca/en/statistical-programs/document/2...
Things added over the years: ride share services, ISP prices, mobile phone plans, etc.
The goods and services that people use when living life change over the years/decades and their lifetime, so why shouldn't the CPI (which can determine the wage raises they get to pay for living) reflect that reality?
So I suppose people must use it all the time to buy goods and services. Right?
Yes. All the time, just not for the things you and I buy such as groceries and transportation. Instead Bitcoin is used to buy illegal products and services such as drugs, weapons, politicians and hit men
It has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
"so far"