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Bitcoin is over $100k

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Re: Bitcoin is over $100k

#281

Post by Nathanba »

BlueTemplar wrote: post #259
Nathanba wrote: post #242

Earlier quoted context omitted.

there is intrinsic in the context of where we are as humans , that's why saying that there is intrinsic worth is correct. Humans need to eat, intrinsically. I guess partially it depends on whether the word 'intrinsic' still applies.

Using that definition, air too has intrinsic worth. But I'm skeptical about the usefulness of this definition.

it's the only useful definition because what else would ever be useful just for its own sake? There has to be a reference point and the moment you have one, it's technically not intrinsic anymore. So we can't do that.

Re: Bitcoin is over $100k

#283

Post by pas »

sandos wrote: post #251
deanmoriarty wrote: post #8

I couldn’t care less about crypto, but just for fun I bought 1 BTC in 2016. Still own it, and likely will never sell, but boy I wish I bought a lot more instead of my index funds, skipping one monthly contribution in VTI back then would have mostly set me up for life instead of just having a nice but inconsequential $100k bonus in my portfolio :-) Congrats to the people who held through thick and thin, I speculate (m…

I cry every time I think about the fact that I managed to CPU-mine 50 btc, and sold it for nothing. Still, I did get a payout from the mtgox disaster and its a decent amount really, considering I put in less than 100$ from the start. Just far from life-changing amount, more like "ok, this gets us a nice vacation trip!"-money.

I still have the postcard from Japan from the legal proceedings!

There's a ton of things I could regret.

BTC price going up makes the counterfactual very easy to imagine in rough outlines, and thus more and more appealing.

But that's a fool's errand. There's absolutely no guarantee that in all the alternate timelines where you had not sold you would be better off now. Even with all the extra money. Windfalls tend to cause problems for lottery winners for example.

Re: Bitcoin is over $100k

#284

Post by ajkdhcb2 »

stackingsaunter wrote: post #237
ajkdhcb2 wrote: post #157

Earlier quoted context omitted.

Monero is fine. But how can you even use bitcoin anonymously now? Even wasabi and samourai wallet are shut down as far as i know. Seems highly risky to use any tool like that since i dont know what the consequences will be in the future. Joinmarket? I'm sure it is possible but it is error-prone, takes so much effort, time and fees that i see it as a failure

Lightning is private

Not based on everything ive read. Happy to be shown evidence of otherwise

Re: Bitcoin is over $100k

#285

Post by ajkdhcb2 »

polotics wrote: post #193
ajkdhcb2 wrote: post #157

Earlier quoted context omitted.

Monero is fine. But how can you even use bitcoin anonymously now? Even wasabi and samourai wallet are shut down as far as i know. Seems highly risky to use any tool like that since i dont know what the consequences will be in the future. Joinmarket? I'm sure it is possible but it is error-prone, takes so much effort, time and fees that i see it as a failure

well you can use Bisq right?

I have used it, but i dont see how it is related to being able to transact privately. As soon as you do anything linked to your name with those coins puchased on bisq, the whole batch is linked to your identity

Re: Bitcoin is over $100k

#286

Post by [deleted] »

TheBruceHimself wrote: post #75

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…

[deleted]

Re: Bitcoin is over $100k

#287

Post by BlueTemplar »

Nathanba wrote: post #281
BlueTemplar wrote: post #259

Earlier quoted context omitted.

Using that definition, air too has intrinsic worth. But I'm skeptical about the usefulness of this definition.

it's the only useful definition because what else would ever be useful just for its own sake? There has to be a reference point and the moment you have one, it's technically not intrinsic anymore. So we can't do that.

It's not because a word exists that it makes sense to use it.

The (scientific) word æther exists too, but you would only use it in a historical context.

Re: Bitcoin is over $100k

#288

Post by zild3d »

TheBruceHimself wrote: post #75

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…

as an extreme example consider holocaust survivors who managed to escape with jewelry or gold as a "store of value". Then those who managed to escape but the family member with the gold did not. With bitcoin, it could be written down or even committed to memory by your entire family

Re: Bitcoin is over $100k

#289

Post by rhplus »

aryan14 wrote: post #90
pm2222 wrote: post #51

Sounds like btc is good for large amount of transfer as relatively low cost but not really ready for day to day expenses like gas/grocery. Yes?

You’re right, but that’s not what BTC was designed for. You could use something like Litecoin, Solana, maybe even Ethereum if you’re willing to pay the fee.

Literally the first sentence of the Bitcoin paper states that it was designed for peer to peer cash transactions:

https://bitcoin.org/bitcoin.pdf

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