4 ms·

Here's some good evidence. Increase in the Monetary Base 1984 - 2010: https://www.aftershockpublishing.com/pub/images/c03f002.jpg https://www.aftershockpublishi

Here's some good evidence. Increase in the Monetary Base 1984 - 2010: https://www.aftershockpublishing.com/pub/images/c03f002.jpg https://www.aftershockpublishing.com/pub/images/c03f002.jpg

rglover 9y ago
Exactly this. Yes, Bitcoin is having another bubble moment because folks are trying to get rich quick. But, the underlying technology—the reason why Bitcoin has stuck around despite countless "deaths"—is that the existing financial system is a glass floor on the verge of shattering. We can live in denial all we want about what that means. Bitcoin, though not perfect, is the first viable solution we've ever seen as a means for preventing financial corruption. Not to mention, it enables banking access for billions of people who don't have it. It makes transfer of large sums to _anywhere on the planet_ inexpensive. It's divisible down to 8 decimal places (a satoshi), making it a great fit for micropayments. These are just the top of mind solutions. There are ideas we haven't even thought of yet. Bitcoin is programmable money, meaning the possibilities are seemingly endless.
- singularity2001 9y ago
  "making it a great fit for micropayments" except that you currently have to pay about $4 for any transaction to come through ... eventually
  - virtuexru 9y ago
    Absolutely not true. I paid $0.40 cents on a $5.00 transaction yesterday that was confirmed within an hour. I could've easily paid the same $0.40 cents to move $50,000,000.00.
    - 6nf 9y ago
      > $0.40 cents on a $5.00 transaction Visa or Mastercard is cheaper than that
      - monort 9y ago
        Actually it is in the same ballpark. 2.9% + 30¢ is a usual price in US for a small business.
  - nrhk 9y ago
    Yea let me transfer money to another account through ACH.... 3 day.... Let me transfer it with Eth or BTC... 1 hour or 40 seconds later...
    - prostoalex 9y ago
      ACH vs BTC is a strawman battle that glosses over Paypal, Venmo, Square Cash, Facebook Messenger Payments, Zello, AliPay, and a few dozen others.
      - glitchdigger 9y ago
        bitcoin won't censor or freeze your transactions tho.
- deleted 9y ago
  [deleted]
prostoalex 9y ago
Wouldn’t that cause every asset (real estate, oil, gold, shares of S&P 500) to go up in price 50x, not just Bitcoin?

Here's some good evidence. Increase in the Monetary Base 1984 - 2010: https://www.aftershockpublishing.com/pub/images/c03f002.jpg https://www.aftershockpublishing.com/pub/images/c03f002.jpg

rglover 9y ago

Exactly this. Yes, Bitcoin is having another bubble moment because folks are trying to get rich quick. But, the underlying technology—the reason why Bitcoin has stuck around despite countless "deaths"—is that the existing financial system is a glass floor on the verge of shattering. We can live in denial all we want about what that means. Bitcoin, though not perfect, is the first viable solution we've ever seen as a means for preventing financial corruption. Not to mention, it enables banking access for billions of people who don't have it. It makes transfer of large sums to _anywhere on the planet_ inexpensive. It's divisible down to 8 decimal places (a satoshi), making it a great fit for micropayments. These are just the top of mind solutions. There are ideas we haven't even thought of yet. Bitcoin is programmable money, meaning the possibilities are seemingly endless.

singularity2001 9y ago
"making it a great fit for micropayments" except that you currently have to pay about $4 for any transaction to come through ... eventually
- virtuexru 9y ago
  Absolutely not true. I paid $0.40 cents on a $5.00 transaction yesterday that was confirmed within an hour. I could've easily paid the same $0.40 cents to move $50,000,000.00.
  - 6nf 9y ago
    > $0.40 cents on a $5.00 transaction Visa or Mastercard is cheaper than that
    - monort 9y ago
      Actually it is in the same ballpark. 2.9% + 30¢ is a usual price in US for a small business.
- nrhk 9y ago
  Yea let me transfer money to another account through ACH.... 3 day.... Let me transfer it with Eth or BTC... 1 hour or 40 seconds later...
  - prostoalex 9y ago
    ACH vs BTC is a strawman battle that glosses over Paypal, Venmo, Square Cash, Facebook Messenger Payments, Zello, AliPay, and a few dozen others.
    - glitchdigger 9y ago
      bitcoin won't censor or freeze your transactions tho.
deleted 9y ago
[deleted]

prostoalex 9y ago

Wouldn’t that cause every asset (real estate, oil, gold, shares of S&P 500) to go up in price 50x, not just Bitcoin?