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> Are you listening to yourself? You just compared 20 years to 2 months, and they were approximately equal. That's terrible. You compared them, and your compar

> Are you listening to yourself? You just compared 20 years to 2 months, and they were approximately equal. That's terrible. You compared them, and your comparison was technically incorrect, so I pointed it out. Price discovery in new class of asset vs the premeditated inflation of a centrally managed fiat currency are different, but it was not I who nominated the two things to compare nor the two periods over which to compare them, nor made a technically incorrect statement about the result of such a comparison. > Currency is not supposed to behave like an investment. For it to be useful to real humans that depend on it for living day to day, it cannot behave like that A cursory glance at the historical ubiquity and utility of non fiat currencies would suggest that this is not correct. A simple observation that the inevitable fate of every flat currency that has ever existed has been demise would do so more strongly. > You don't need to pretend that it takes a very complex understanding to recognize an unstable financial instrument. Also, trying to insult people into accepting your views very rarely works. Giving me a source for a narrow singular slice of data on the bitcoin price does not negate or address the core point I made about the long term trend being dramatically upward, not allowing for cherry picked time window periods in which things did not align with that trend. I do not care that you don't accept my views, I care that you make flatly wrong statements based on shallow knowledge and smugly pretend towards understanding and in so doing contribute to the ridiculous smokescreen regarding this particular topic in this particular forum. Frankly I don't care if people like or dislike bitcoin, I'm simply sick of the lies, falsehoods, and other generally misleading junk that passes for information on it here. Perhaps I should attempt a technically correct assassination of the project simply so people who object on other grounds can at least avoid parroting flat abject falsehoods. > If all currencies collapse, there is little evidence anyone would accept bitcoin instead In all the aforementioned cases of the inevitable death of fiat currency, trade and commerce did not simply cease, non fiat currencies took over. There is no reason to assume a change to this pattern.

hueving 10y ago
>A cursory glance at the historical ubiquity and utility of non fiat currencies would suggest that this is not correct. Such as the tulip bulb? Or spices? There are very few things that have stored value in a long term fashion and that's because they are rare in nature (e.g. gold, silver). Bitcoin's value relies entirely on faith in the system that places arbitrary computational constraints on generating new units of currency. It is still a currency controlled by people. >I do not care that you don't accept my views, I care that you make flatly wrong statements based on shallow knowledge and smugly pretend towards understanding and in so doing contribute to the ridiculous smokescreen regarding this particular topic in this particular forum. It was not flatly wrong. You did not account for the fact that currency in a bank would have appreciated due to interest. It seems you lack a very basic understanding of how the current banking system works and have dedicated yourself to pump bitcoin rather than objectively compare it to the existing system. >In all the aforementioned cases of the inevitable death of fiat currency, trade and commerce did not simply cease, non fiat currencies took over. There is no reason to assume a change to this pattern. There has never been a case that wiped out all government currencies at once, which is what a 'massive sovereign debt bust' implies. Perhaps you meant something else and failed to convey it. If you are referring to one currency collapsing, then usually what happens at this point is people just use currencies from other countries. Trading in commodities is a nightmare and would only be the result of massive global instability, in which case the bitcoin network would likely be taken down (or would fork several times) due to countries severing Internet connections.
- etherael 10y ago
  Read your comment history, realise you are a simple shill for the state, I am no longer interested in correcting your false information. I don't care at all what you or people like you think. Goodbye, have a nice life.
  - hueving 10y ago
    If you don't care to refute facts, that's fine. But you don't have to rage-quit in such a childish fashion. Save that for reddit.
    - etherael 10y ago
      You have no facts. Merely an ideology you are wedded to and will insist on pushing regardless of the facts even when directly confronted with them, and having simple mathematical statements you make proven wrong. If the facts damn the state, people like you damn the facts, and therefore there is no reason to discuss anything with you. This is not a rage quit anymore than realising that confronting a Christian with the fact that various points of their faith are simply scientifically impossible and thus factually incorrect. We are playing different games and care about different things. You don't care about truth and I don't care about your political agenda. We start from completely different premises and have zero regard for the premises of our opposite, therefore discussion is useless.
    - dang 10y ago
      Your comments are breaking the HN guidelines by being uncivil. We ban accounts that do that, so please don't do that. Instead, edit the uncivil bits out or don't post until you can comment without them. This is especially important when another person is being wrong and/or provocative. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newswelcome.html https://news.ycombinator.com/newswelcome.html
      - hueving 10y ago
        The parent accused me of being a shill and I said that was a childish way to end an argument. The civility guideline is this: >Be civil. Don't say things you wouldn't say in a face-to-face conversation. Avoid gratuitous negativity. If someone called me a shill to my face, I would call them childish in person as well. Can you let me know what I said that resulted in this threat of banning? I will be happy to stop commenting on this site and show myself the door if I cannot respond to accusations.

hueving 10y ago

>A cursory glance at the historical ubiquity and utility of non fiat currencies would suggest that this is not correct. Such as the tulip bulb? Or spices? There are very few things that have stored value in a long term fashion and that's because they are rare in nature (e.g. gold, silver). Bitcoin's value relies entirely on faith in the system that places arbitrary computational constraints on generating new units of currency. It is still a currency controlled by people. >I do not care that you don't accept my views, I care that you make flatly wrong statements based on shallow knowledge and smugly pretend towards understanding and in so doing contribute to the ridiculous smokescreen regarding this particular topic in this particular forum. It was not flatly wrong. You did not account for the fact that currency in a bank would have appreciated due to interest. It seems you lack a very basic understanding of how the current banking system works and have dedicated yourself to pump bitcoin rather than objectively compare it to the existing system. >In all the aforementioned cases of the inevitable death of fiat currency, trade and commerce did not simply cease, non fiat currencies took over. There is no reason to assume a change to this pattern. There has never been a case that wiped out all government currencies at once, which is what a 'massive sovereign debt bust' implies. Perhaps you meant something else and failed to convey it. If you are referring to one currency collapsing, then usually what happens at this point is people just use currencies from other countries. Trading in commodities is a nightmare and would only be the result of massive global instability, in which case the bitcoin network would likely be taken down (or would fork several times) due to countries severing Internet connections.

etherael 10y ago
Read your comment history, realise you are a simple shill for the state, I am no longer interested in correcting your false information. I don't care at all what you or people like you think. Goodbye, have a nice life.
- hueving 10y ago
  If you don't care to refute facts, that's fine. But you don't have to rage-quit in such a childish fashion. Save that for reddit.
  - etherael 10y ago
    You have no facts. Merely an ideology you are wedded to and will insist on pushing regardless of the facts even when directly confronted with them, and having simple mathematical statements you make proven wrong. If the facts damn the state, people like you damn the facts, and therefore there is no reason to discuss anything with you. This is not a rage quit anymore than realising that confronting a Christian with the fact that various points of their faith are simply scientifically impossible and thus factually incorrect. We are playing different games and care about different things. You don't care about truth and I don't care about your political agenda. We start from completely different premises and have zero regard for the premises of our opposite, therefore discussion is useless.
  - dang 10y ago
    Your comments are breaking the HN guidelines by being uncivil. We ban accounts that do that, so please don't do that. Instead, edit the uncivil bits out or don't post until you can comment without them. This is especially important when another person is being wrong and/or provocative. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newswelcome.html https://news.ycombinator.com/newswelcome.html
    - hueving 10y ago
      The parent accused me of being a shill and I said that was a childish way to end an argument. The civility guideline is this: >Be civil. Don't say things you wouldn't say in a face-to-face conversation. Avoid gratuitous negativity. If someone called me a shill to my face, I would call them childish in person as well. Can you let me know what I said that resulted in this threat of banning? I will be happy to stop commenting on this site and show myself the door if I cannot respond to accusations.