161–167 of 167 posts
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Equities
I didn't know Gensler had his own HN account! https://twitter.com/TheBTCTherapist/status/17353627302388821...
Equities means shares in companies, which are what real economy is made of. The population collectively producing physical goods and services. Tangible real things, created by people doing actual work.
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I don’t use Bitcoin because it’s too slow and expensive. Other people do find value in it. Carrying more than $10k in cash is dangerous, and likely to be seized during international travel. That’s a list of things people use crypto for. Obviously, if they preferred the non crypto version of those services, they would use them instead.
What I mean is I can do all this with my bank: > the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system What's the difference, that is valuable enough to explain the bitcoin price differences?
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Why is BTC so correlated to DOGE? Why is there such a correlation between all cryptocoins and BTC? Methinks your definition of "hardness" isn't as important as you think it is.
Other cryptos tend to track bitcoin because of increased demand from people who dont understand the qualitative difference between a quality product and scams. Bitcoin holds the majority of market share, and over time basically all of these loose 100% of their value. You should ask yourself what causes bitcoin to have a floor when its had 4 80+% drops in its lifetime.
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What I mean is I can do all this with my bank: > the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system What's the difference, that is valuable enough to explain the bitcoin price differences?
What’s your bank? I’d like an account there. Every one I’ve checked so far freezes accounts and has a painful process for international wire transfers.
But I'm not saying there's zero value to bitcoin's advantages. I'm saying that that in no way explains the price of bitcoin. What explains it is greater fool theory.
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What’s your bank? I’d like an account there. Every one I’ve checked so far freezes accounts and has a painful process for international wire transfers.
Er. A wire transfer like BACS? You just put in the details, click "yes, I understand this is probably a bad idea" and wait. At least in the UK. But I'm not saying there's zero value to bitcoin's advantages. I'm saying that that in no way explains the price of bitcoin. What explains it is greater fool theory.
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Other cryptos tend to track bitcoin because of increased demand from people who dont understand the qualitative difference between a quality product and scams. Bitcoin holds the majority of market share, and over time basically all of these loose 100% of their value. You should ask yourself what causes bitcoin to have a floor when its had 4 80+% drops in its lifetime.
I find it fascinating just how fixed everyone is on this topic. You are either for it or against it and will die trying to prove the other side wrong. We are just a few steps away from having a Holy War lol.
The desperate rationalisation will only increase with each halving cycle. The oh-so-clever "tulips" joke is becoming increasingly tragic.
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> It is guarenteed to rise like everything else of limited supply They aren't making any more VHS copies of Toy Story, which IIRC was estimated to be ~21 Million copies of tape.
I believe Bitcoin is a bit more durable than a VHS, but this is a fun comparison nonetheless.