S&P Dow Jones Indices to launch cryptocurrency indexes in 2021

Post by root_axis » Fri, Dec 04, 2020, 2:11 AM UTC

doggosphere wrote: post #393

root_axis wrote: post #289

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You can't really know how easy it might be for me. For example, if my name was Vitalik Buterin or Elon Musk or even Donald Trump, I could trivially create my own cryptocurrency and a lot of people would use it.

Creating a new cryptocurrency doesn't make Bitcoin less scarce. At worst your coin takes time and attention away from Bitcoin, and thus takes value. At best it outgrows Bitcoin, and grows the entire space. But that's like saying you could build your own alternative to Facebook by whipping up some corporate partnerships and venture capital. Go ahead, we'll see which one wins in the long run.

Post by root_axis » Fri, Dec 04, 2020, 2:11 AM UTC

ric2b wrote: post #414

root_axis wrote: post #289

Earlier quoted context omitted.

You can't really know how easy it might be for me. For example, if my name was Vitalik Buterin or Elon Musk or even Donald Trump, I could trivially create my own cryptocurrency and a lot of people would use it.

But it still wouldn't change the scarcity of Bitcoin.

Post by doggosphere » Fri, Dec 04, 2020, 2:15 AM UTC

mbesto wrote: post #469

doggosphere wrote: post #399

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I'm enjoying sitting on the sidelines and watching people "save" in a fiat "currency" whose value is not linked to anything intrinsic, whose supply can magically be increased at the discretion of a few powerful individuals, and whose value has been declining relative to almost any tradeable assets. What a time to be alive. No wonder the M2 money supply is at an all time high. No one has any idea of what the intrinsic…

There are two ways to look at currency (fiat or otherwise): - Medium of exchange - Store of value Fiat currency has utility for both. If crypto was more widely accepted by merchants (thereby satisfying bullet point #1) then this certainly changes the game. But it's not. Comparing both in their current capacities is disingenuous.

Post by solveit » Fri, Dec 04, 2020, 2:19 AM UTC

andrewmcwatters wrote: post #332

vmception wrote: post #308

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Rattling off references to other asset bubbles only shows how little you know about those asset bubbles and undermines the credibility of your strongly held opinions on what makes an asset worth paying attention to. For starters, you should probably start over on whatever you think you know about the tulips. Primarily its relation to tulip derivatives and the spot market of tulips, and the government's role in the du…

I don’t know what you’re getting at. It would be like trying to better understand the microeconomic factors behind Beanie Babies. It’s an exercise in futility. They’re toys and they ended up being resold at prices that made no sense to the common man. Of all the endless knowledge that humanity produces, you have to ask yourself whether or not there’s meaning in pursuing topics endlessly. They’re flowers. This isn’t a…

Post by brighton36 » Fri, Dec 04, 2020, 2:22 AM UTC

jkhdigital wrote: post #408

andrewmcwatters wrote: post #401

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Central banking as it exists in the US is designed to encourage spending. One person’s spending becomes another’s income. Having finite dollars and increasing demand leads to a currency that only increases in value. If an asset increases in value, there is an incentive to acquire it and not part with it.

No matter how much I read on the subject, I always feel like the true nature and complexity of money eludes me. I don’t mean to disparage your comments, but I believe they reflect a lack of appreciation for the magnitude of the subject.