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If you are so sure, you are welcome to make some money on it by shorting bitcoin before the halving which is in May. And no, it's not word juggling, the value

If you are so sure, you are welcome to make some money on it by shorting bitcoin before the halving which is in May. And no, it's not word juggling, the value of money comes from the people who exchange things for money. Here they exchange either electricity, or USD for it. Miners are paying their bills by selling virtual tokens, if those tokens didn't have any value for anybody, they wouldn't be able to sell them. Whether the token comes from block reward or transaction fees doesn't change anything on the fact that somebody gave up USD to get the token. > Bitcoin pays itself by "printing itself" Kinda ironic now after FED printed more money in one week than the whole Bitcoin economy is worth. I'd rather have the printing controlled by math, than any person.

arcticbull 7y ago
> If you are so sure, you are welcome to make some money on it by shorting bitcoin before the halving which is in May. Only suckers take positions in a rigged game, short or long. > Kinda ironic now after FED printed more money in one week than the whole Bitcoin economy is worth. I'd rather have the printing controlled by math, than any person. Obviously that math is defined by people, so you're just pointing at it and pretending otherwise. The Bitcoin Core team can just change the printing rate any time; their lack of action is defacto action. Rather than an elected group of economists you've got a bunch of un-accountable, un-elected people with zero experience in the economics space shooting from the hip.
- trickstra 7y ago
  I'm really surprised to see so huge amount of misunderstanding of basic Bitcoin principles here on HN. These things were discussed 10 years ago. The Bitcoin Core team cannot change rules just like that, they are not the central bank of Bitcoin, while the elected group of economists have done that a couple of times before just to save their own asses. Talk about accountability...
  - noxer 7y ago
    Why are you replying to that post then? While ignoring all my arguments. I know very well that the devs can't change the rules. And you probably know very well that my arguments are very valid and there is not even a plan to fix this.
noxer 7y ago
Maybe I do that already? Or maybe not because I stated above that the crash could very well come after the next halving but it could also take another few more halving each coupled with price waves as we have seen in the past. I have no clue how long this self fueling will work. Anyway the whole "if you sure about xxx why you don't yyy" isn't an argument. You don't seem to understand where the value from new minted BTCs comes from. How they are exchanged is completely irrelevant. Mined BTCs change the supply and that changes the price of all other BTCs. Any additional BTC makes all other BTCs a little bit cheaper/less worth. And that is where the value form the new BTCs come from. Printing controlled by math avoids hyperinflation like I said above. Printing isn't the problem, that the printing stops is the problem. Or that the whole system was self fueling in the first place.

arcticbull 7y ago

> If you are so sure, you are welcome to make some money on it by shorting bitcoin before the halving which is in May. Only suckers take positions in a rigged game, short or long. > Kinda ironic now after FED printed more money in one week than the whole Bitcoin economy is worth. I'd rather have the printing controlled by math, than any person. Obviously that math is defined by people, so you're just pointing at it and pretending otherwise. The Bitcoin Core team can just change the printing rate any time; their lack of action is defacto action. Rather than an elected group of economists you've got a bunch of un-accountable, un-elected people with zero experience in the economics space shooting from the hip.

trickstra 7y ago
I'm really surprised to see so huge amount of misunderstanding of basic Bitcoin principles here on HN. These things were discussed 10 years ago. The Bitcoin Core team cannot change rules just like that, they are not the central bank of Bitcoin, while the elected group of economists have done that a couple of times before just to save their own asses. Talk about accountability...
- noxer 7y ago
  Why are you replying to that post then? While ignoring all my arguments. I know very well that the devs can't change the rules. And you probably know very well that my arguments are very valid and there is not even a plan to fix this.

noxer 7y ago

Maybe I do that already? Or maybe not because I stated above that the crash could very well come after the next halving but it could also take another few more halving each coupled with price waves as we have seen in the past. I have no clue how long this self fueling will work. Anyway the whole "if you sure about xxx why you don't yyy" isn't an argument. You don't seem to understand where the value from new minted BTCs comes from. How they are exchanged is completely irrelevant. Mined BTCs change the supply and that changes the price of all other BTCs. Any additional BTC makes all other BTCs a little bit cheaper/less worth. And that is where the value form the new BTCs come from. Printing controlled by math avoids hyperinflation like I said above. Printing isn't the problem, that the printing stops is the problem. Or that the whole system was self fueling in the first place.