151–160 of 350 posts
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The SEC doesn't consider BTC a security, so not "like a stock"
Not all speculative assets are neccesarily securities. Bitcoin's value fluctuates in a way that makes it's store of value absolutely resemble a stock, albeit with fewer legal protections and guarantees.
Why hell does this keep going up? Can you pretty much just buy at any point in time and be guaranteed a 10x return?
A part of the valuation comes from miners who gets their returns cut by half every ~4 years. They have an interest in having the price (at least) double by then.
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It isn't fungible at all since every coin has a history which in some cases makes it unspendable, so it is highly risky to accept transfers without a third party chain analysis report, otherwise i agree
Report which you don't get from centralized exchanges. So you have to trust them and they should somehow be liable for the provenance of what they sell to you . Probably most CEX don't allocate UTXOs upon buying, but only for withdrawals
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The SEC doesn't consider BTC a security, so not "like a stock"
And companies have intrinsic value. They don't just pointlessly consume resources.
I just don't understand why you'd choose Bitcoin over gold. Gold, like Bitcoin, was criticized for just being a stupid store of value, but that wasn't completely true as it undoubtedly had some utility in the economy. Worst case comes and the market crashes, you know there's at least someone somewhere buying. What does Bitcoin get you over gold? The same "it's scarce and therefore valuable" narrative so you can store…
Only 11% of gold is for industrial purposes, so I think that if the thousands of years of cultural association of gold with wealth suddenly disappeared and people decided it was a bad investment, then it would be basically worthless.
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The whitepaper shows it was intended to be "peer to peer electronic cash". It did clearly fail at that goal since it has none of the privacy of cash and so on.
How did it fail at being P2P e-cash? You can use bitcoin completely/as anonymously as cash if you wanted to, the same way you’d have to put in a bit of effort to have a completely anonymous cash transaction. Monero (XMR) which is a fork of bitcoin, is much closer to actual cash
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Tether is bad but these aren't correct arguments against it. 1. You can easily sell BTC for 100K actual USD and ACH it out on a regulated exchange like Gemini. 2. You can easily sell USDT for actual USD on (IIRC) Kraken. 3. Technically you can short USDT via various means but you won't be able to collect any profits.
> 1. You can easily sell BTC for 100K actual USD and ACH it out on a regulated exchange like Gemini. 2. You can easily sell USDT for actual USD on (IIRC) Kraken. You can until you can't. As long as people think 1 "USDT" is worth $1, and as long as the amounts you're selling aren't too big, it stays afloat. > 3. Technically you can short USDT via various means but you won't be able to collect any profits. How? If my t…
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>Bitcoin's price is simply another symptom of this. Bitcoin is not the symptom, Bitcoin is the answer. People are not longing Bitcoin, people are exiting the dollar, the euro, the yuan...
Yet the dollar is at record highs, and commodities are at record highs, and the stock market is at record highs, and real estate is at record highs, and Bitcoin is at record highs. So who is hedging what exactly?
All fiat currencies go to zero. BTC does the opposite using number go up technology.