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> Purchasing a bitcoin is buying an entry in an accounting database, an extraordinarily expensive collection of bits. Wait until someone tells him about Treasu
by Turing_Machine 6y ago
> Purchasing a bitcoin is buying an entry in an accounting database, an extraordinarily expensive collection of bits.
Wait until someone tells him about Treasury bonds.
- UrsaMedius 6y agoWhat's your point? That the US government would default on their loans?
- Turing_Machine 6y agoA Treasury bond is just some bits sitting on a hard drive that promises to pay you so many "dollars", which is a purely imaginary unit whose value can be manipulated at the whim of the government. It's every bit as imaginary as Bitcoin. Arguably even more so, since Bitcoin can't be inflated at will and without limit. They don't have to formally default if they inflate the dollar enough that a current dollar is worth only 10% (or whatever) of what one was worth at the time the bond was issued. And it's starting to look like that's exactly the strategy that's in play.
- dkjaudyeqooe 6y agoI think you chose the worse possible example to try to make your point. Were you thinking of the US dollar?