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Bitcoin
Comments
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Fractional reserve banking requires no input from Central Banks. Yet increases the amount of currency in circulation.RichTips said:
Putting the presence of sats (satoshis) and the implications of implementing further subdivision on the protocol to one side, you do realize that subdividing bitcoin into "increasingly smaller amounts to create more units" differs from the injection of new currency into the money supply by a central bank quite radically? Your supposition would simply be redenominating the holdings of all current holders. This would do little more than make holders wealthier in the eyes of simpletons.HansOndabush said:
The relevance of the Zimbabwe dollar is that it is fiat currency that can be printed into oblivion/debased and I guess the point he is making about bitcoin is that there are a finite number of numbers so from that standpoint, infinite bitcoin cannot be 'printed'. Though of course bitcoin could be subdivided into increasingly smaller amounts to effectively create more units so work that one out.Sebo027 said:
Agree. He doesn't say anything really, actually, other than saying "it's volatile" which anyone could deduce from looking at the price chart in USD and then talks about the Zimbabwe dollar which is of no relevance to crypto currency other than it's value changed rapidly.RichTips said:
The guy seems fairly rational and makes reasonable points.IvanOpinion said:See what Terry Smith has to say on Bitcoin. A voice worth listening to.
https://www.youtube.com/watch?v=-GS1ebrdX7g&feature=youtu.be&ab_channel=interactiveinvestor
I'd push back against his advocacy for Libra, however, as it would, according to the current proposed design released by its creators, Facebook, be subject to some of the same issues that afflict fiat currencies (lack of censorship resistance, for example). This inclines me to believe cryptocurrency may be a field he lacks sufficient knowledge of to give a huge amount of insight into. That is to say, others have voices equally if not more worth listening to on this topic.0 -
MicroStrategy buys Bitcoin which boosts their shares on the hype then CEO Michael Saylor dumps his stock in MicroStrategy; smart move for him; not for anyone else.[Deleted User] said:onthebench said:
Not only them. Plenty of big investors are still buying. Mind you Elon Musk is also shilling Dogecoin, so...HansOndabush said:It's the "simpletons" that are buying into Bitcoin now.That's true. MicroStrategy invested another $1 billion, they just published it today:
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Evidence-Based Investor view on Bitcoin.0
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This article discusses the energy required to mine for Bitcoin.
How Bitcoin's vast energy use could burst its bubble - BBC News
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Bitcoin is at a tipping point and could become 'currency of choice' for global trade, Citi says
Either going to zero or currency of choice for global trade? I guess if it does become the currency of choice for global trade it might go some way to justify the energy expenditure.1 -
Where are those naysayers who religiously were saying bitcoin is not an investment?Well, it is.
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I’m still here 🤣 Bitcoin is gambling. It’s purely speculative so can’t be compared to traditional investments. Hope it does well for you and makes you lots of money.[Deleted User] said:Where are those naysayers who religiously were saying bitcoin is not an investment?Well, it is.No one has ever become poor by giving1 -
Long time no seethegentleway said:
I’m still here 🤣 Bitcoin is gambling. It’s purely speculative so can’t be compared to traditional investments. Hope it does well for you and makes you lots of money.[Deleted User] said:Where are those naysayers who religiously were saying bitcoin is not an investment?Well, it is.
Problem is, it's being compared to traditional investments and put on to portfolios regardless. Nothing is stopping people, businesses and wealth managers from putting it into portfolios and making a killing. The horse has left the barn. Once bitcoin hard money features and other characteristics, including average gains year on year has been seen, they can't be unseen.
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Barn doors can be slammed shut. Then the poor horses will be left to fend for themselves.[Deleted User] said:
Long time no seethegentleway said:
I’m still here 🤣 Bitcoin is gambling. It’s purely speculative so can’t be compared to traditional investments. Hope it does well for you and makes you lots of money.[Deleted User] said:Where are those naysayers who religiously were saying bitcoin is not an investment?Well, it is. Problem is, it's being compared to traditional investments and put on to portfolios regardless. Nothing is stopping people, businesses and wealth managers from putting it into portfolios and making a killing. The horse has left the barn. Once bitcoin hard money features and other characteristics, including average gains year on year has been seen, they can't be unseen.0 -
Thrugelmir said:
Barn doors can be slammed shut. Then the poor horses will be left to fend for themselves.[Deleted User] said:
Long time no seethegentleway said:
I’m still here 🤣 Bitcoin is gambling. It’s purely speculative so can’t be compared to traditional investments. Hope it does well for you and makes you lots of money.[Deleted User] said:Where are those naysayers who religiously were saying bitcoin is not an investment?Well, it is. Problem is, it's being compared to traditional investments and put on to portfolios regardless. Nothing is stopping people, businesses and wealth managers from putting it into portfolios and making a killing. The horse has left the barn. Once bitcoin hard money features and other characteristics, including average gains year on year has been seen, they can't be unseen.You must be referring to saddened nocoiners and naysayers then, who have been left empty handed?New internet meme-saying to them has been lately: "Have fun staying poor".0
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