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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Lol I mean...that's a really bad thing! It's pure speculation, there's no inherent value being expressed there. Sooner or later it'll plummet, especially if one or two major players pull out
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Replying to @GidMK
people have been saying that for a decade now
we’ll all be buying BTC eventually.. the only question is at what price. I have less faith in USD right now. 1% diversification allocation is no-brainer.0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
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