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GidMK's profile
Health Nerd
Health Nerd
Health Nerd
Verified account
@GidMK

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Health NerdVerified account

@GidMK

Epidemiologist. Writer (Guardian, Observer etc). "Well known research trouble-maker". PhDing at @UoW Host of @senscipod Email gidmk.healthnerd@gmail.com he/him

Sydney, New South Wales
theguardian.com/profile/gideon…
Joined November 2015

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    1. Health Nerd‏Verified account @GidMK Sep 5
      Replying to @grepmeded

      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?

      2 replies 0 retweets 3 likes
    2. Health Nerd‏Verified account @GidMK Sep 5
      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

      2 replies 0 retweets 1 like
    3. Health Nerd‏Verified account @GidMK Sep 5
      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.

      1 reply 0 retweets 2 likes
    4. GrepMed‏ @grepmeded Sep 5
      Replying to @GidMK

      https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/?sh=2f1135463432 …

      1 reply 0 retweets 0 likes
    5. Health Nerd‏Verified account @GidMK Sep 5
      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

      1 reply 0 retweets 2 likes
    6. GrepMed‏ @grepmeded Sep 5
      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
    7. Health Nerd‏Verified account @GidMK Sep 5
      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

      2 replies 0 retweets 2 likes
    8. GrepMed‏ @grepmeded Sep 5
      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

      1 reply 0 retweets 0 likes
    9. Health Nerd‏Verified account @GidMK Sep 5
      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

      2 replies 0 retweets 1 like
    10. GrepMed‏ @grepmeded Sep 5
      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

      1 reply 0 retweets 0 likes
      Health Nerd‏Verified account @GidMK Sep 5
      Replying to @grepmeded

      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!

      8:02 PM - 5 Sep 2021
      • 1 Like
      • GrepMed
      1 reply 0 retweets 1 like
        1. GrepMed‏ @grepmeded Sep 5
          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

          0 replies 0 retweets 0 likes
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