I mean, I've spent the last few years reading as much as I could and trying to understand the intricacies - what specific value (aside from decentralization) do cryptocurrencies provide?
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Replying to @GidMK @grepmeded
And my genuine understanding thus far is that, aside from a few specific cool things (i.e. smart contracts), most cryptocurrency 'value' is speculation. BTC is a great example - as a currency, it's of limited intrinsic value unless you're evading current laws
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Replying to @GidMK @grepmeded
And sure, evading laws has value (many people I know who trade crypto used it originally to buy drugs) but certainly not the sort of value ascribed to these currencies.
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Replying to @grepmeded
No absolutely, the vast majority of current BTC trading is clearly speculation - I'm talking about intrinsic value, which speculation does not have
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Replying to @GidMK
Intrinsically BTC is a technology, like money, that functions as a store of value. Just like Gold has value beyond intrinsic metal, properties. But
#BTC
is much better- more portable, verifiable, divisible and scarce.https://www.youtube.com/watch?v=YHjYt6Jm5j8 …1 reply 0 retweets 0 likes -
Replying to @grepmeded
I understand the basics of the currency, but gold also has its limitations as a store of value. BTC is in theory both a currency and an asset, but in practice using it as a currency is limited and as an asset the value largely comes from speculation
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Replying to @GidMK
Investing in USD is also speculation. You're right that if there are tax penalties in your country, you are foolish to spend and not HODL
#BTC
.pic.twitter.com/8UJbpmMEWJ
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Replying to @grepmeded
Not really - investing in USD has a fixed expected return, and is guaranteed by various mechanisms in the US. While these could collapse, they are pretty solid
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Replying to @GidMK
Many don’t have access to USD and even those in dollarized countries don’t see the benefits of stimulus checks etc. Inflation hits to poorest the hardest.pic.twitter.com/RqwPW2cdO2
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Sure, but I imagine the halving of BTC value a few months ago due to decisions by billionaires would've also had quite a large impact!
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Replying to @GidMK
Halving was programmed in from the onset by Satoshi a decade ago. Purest of the crypto the rest were all pre-mined by VC etc. Don’t let the antivax loudmouths color your perception of this amazing technology. Dollar cost average in. Will leave you with this
:pic.twitter.com/hhUKn9IjCQ
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