1 Bitcoin supply capped 2 Economy grows 3 So, each bitcoin buys more. That's deflationary. 4 Over 90% of dollar market is not base money, it's credit. 5 Everyone will continue to borrow dollars. BTC will be a deflationary asset in an inflationary world. 6 Bitcoin has a chance.
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Replying to @RmRusignuolo @JamesGRickards
They are as valuable as pokemon cards except they take a shit load of energy to generate and you have a trail of every pokemon card transaction ever made for some reason
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They can always print more pokemon cards, or they can be damaged, or counterfeited.
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Think about it. We are utilizing all of earth resources to crack code so we can generate bitcoin and generate a list of bitcoin transactions. Sound feasible ?
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Replying to @cherian_mithun @pennykoin1 and
The energy “argument” has been disproved for a long time.. you can’t really store energy, and the energy being used by miners would actually be wasted (solar, hydro, etc) if it wasn’t for BTC. Also the overall amount of energy compared to value transacted is negligible
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Replying to @Federico_Xmas @pennykoin1 and
Value transacted ? Bitcoins inherent value is zero. Unless all the issue that prevent it from being viable currency is dealt with. As an asset, its digital token representing nothing, but a list of previous txns of other useless tokens. What do you mean energy cant be stored ?
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Replying to @cherian_mithun @Federico_Xmas and
what is the "inherent value" of government currency?
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Replying to @MustStopMurad @Federico_Xmas and
Worth what you can buy with it
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Replying to @cherian_mithun @Federico_Xmas and
but what is fiat’s “inherent value” that you demanded above? inherent. what is its “inherent value”?
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Replying to @MustStopMurad @Federico_Xmas and
What you can buy with it. It is a currency..a medium of exchange without which we get pushed into the dark ages.
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That’s not “inherent”...
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Replying to @MustStopMurad @Federico_Xmas and
Try not using currency from today, living with barter, tell me how easy your life becomes tomorrow
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Replying to @cherian_mithun @Federico_Xmas and
Obviously barter needs to be solved but currency doesn’t have to be mandated by the government, it can be chosen by the market, like Gold was for thousands of years
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End of conversation
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