21–30 of 67 posts
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Unfortunately the people on HackerNews tend to be hostile towards Bitcoin so you probably shouldn't expect a very constructive set of comments here. (learning to ignore these people was the most financially rewarding thing I've done in my life)
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"0 mention of Bitcoin" might have sparked a discussion, but: as a Millenial I feel your mention of "Boomer" is unwarranted, and as a dev in fintech I very much understand blockchain tech, but "the future of the monetary system" and Bitcoin? Payments maybe, but "the monetary system"? Please.
As an example in support of "this piece isn't about payment systems" bit, the piece doesn't seem to mention things like credit-cards either... but that doesn't imply the author is an credit-card hater ideologue.
Earlier quoted context omitted.
Unfortunately the people on HackerNews tend to be hostile towards Bitcoin so you probably shouldn't expect a very constructive set of comments here. (learning to ignore these people was the most financially rewarding thing I've done in my life)
The fact your indication is very close to the original comment makes me wonder if this is alt-account behavior.
Earlier quoted context omitted.
Gold is not a currency, it's a commodity. It has been used for 1000's of years for adornment, because of its mailability and luster. Recently it also has application in industry at an unprecedented scale. Bitcoin is a token that represents an amount of wasted electricity. It has no value other than the intrinsic ones people place on it, like a currency. We can decide that bitcoin is worthless tomorrow and it would be…
Gold has always been a currency, it is a currency right now and it will be a currency for all future. That's why central banks deal in gold, while the serfs pay interest for fake paper money. Not the entire world is shackled and under military or police threat. You could also free yourself, if you research how to. Even without using any bitcoin nor gold.
Earlier quoted context omitted.
Gold is not a currency, it's a commodity. It has been used for 1000's of years for adornment, because of its mailability and luster. Recently it also has application in industry at an unprecedented scale. Bitcoin is a token that represents an amount of wasted electricity. It has no value other than the intrinsic ones people place on it, like a currency. We can decide that bitcoin is worthless tomorrow and it would be…
Gold has always been a currency, it is a currency right now and it will be a currency for all future. That's why central banks deal in gold, while the serfs pay interest for fake paper money. Not the entire world is shackled and under military or police threat. You could also free yourself, if you research how to. Even without using any bitcoin nor gold.
https://en.wikipedia.org/wiki/Debasement as an example of what happens when gold ends up a currency.
Earlier quoted context omitted.
"0 mention of Bitcoin" might have sparked a discussion, but: as a Millenial I feel your mention of "Boomer" is unwarranted, and as a dev in fintech I very much understand blockchain tech, but "the future of the monetary system" and Bitcoin? Payments maybe, but "the monetary system"? Please.
Hasn't the monetary system historically reverted to commodity money whenever there was a shakeup in the major powers? I have doubts about the "bitcoin is better commodity money" idea myself, but they have more to do with the fact that Bitcoin is probably quite easy to kill at superpower scale and less to do with the idea that we will never see commodity money ever again.
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Until a currency has a military and economy behind it, it’s a toy. That is what a currency represents: power and trust.
Did Rai stones have a meaningful military and economy behind them?
* https://en.wikipedia.org/wiki/Rai_stones
Or various sea shells?
* https://en.wikipedia.org/wiki/Shell_money
The earliest recorded economies (e.g. Ur III) ran on credit:
* https://www.sfu.ca/~poitras/jesho_UR_14.pdf
Earlier quoted context omitted.
Gold is not a currency, it's a commodity. It has been used for 1000's of years for adornment, because of its mailability and luster. Recently it also has application in industry at an unprecedented scale. Bitcoin is a token that represents an amount of wasted electricity. It has no value other than the intrinsic ones people place on it, like a currency. We can decide that bitcoin is worthless tomorrow and it would be…
Gold has always been a currency, it is a currency right now and it will be a currency for all future. That's why central banks deal in gold, while the serfs pay interest for fake paper money. Not the entire world is shackled and under military or police threat. You could also free yourself, if you research how to. Even without using any bitcoin nor gold.
Not in Mesoamerican civilizations (Aztec, Mayans). Also not for the Chinese, who used silver for currency (and gold for ceremonial purposes).
Around the Mediterranean, gold became a currency 'only' around 500BC with the Lydians—which is a very long time after the first economic records we have, which take back to Ur III, the Babylonians (Hammurabi), Ancient Egypt.