3 ms·
Bitcoin is a distributed feat currency with a proven limited supply (20M coins max) and slow and expensive transactions. At present, bitcoin cannot be coopted b
by lr1970 6y ago
Bitcoin is a distributed feat currency with a proven limited supply (20M coins max) and slow and expensive transactions. At present, bitcoin cannot be coopted by any central bank and cannot be inflated by a "printing press". These two facts make it attractive to people willing to park their conventional feat currencies that are being debased by actions of governments and central banks. People do not realize how much worthless money in the world are chasing limited investment or speculative opportunities. Bitcoin seems to be as good or better than anything else.
- grey-area 6y agoBitcoin is a distributed feat currency with a proven limited supply (20M coins max) and slow and expensive transactions My one problem with your thesis is that Bitcoin is no longer a currency but a speculative asset. It has not yet proven a stable store of value, or a useful currency, quite the opposite, and if nobody uses it to transact, what value does it have? PS It’s fiat, not feat.
- Viker 6y ago100 btc from 2013 was around 1000 usd. 100 btc in 2021 was around 5000000 usd... Satoshi still has around a million Btc... I call this printing money
- hbogert 6y agoI call it deflation
- twiceaday 6y agoThis reads like PR speculators use when they don't want to be honest. BTC turned out to be an insane investment over its lifespan. It is comical to not even mention this. It seems completely obvious that 99% of the public sentiment is built on the back of this. Everything else is fluff that will change to other fluff when it stops being true.