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Theoretically, all else being equal, money should not lose or even gain purchasing power as technology advancements increase productivity. I (and many others) h

Theoretically, all else being equal, money should not lose or even gain purchasing power as technology advancements increase productivity. I (and many others) have to stick my wealth in scarce assets or investments to avoid inflationary monetary policy. Bitcoin serves this purpose well, in ways that real estate, gold, and equities don’t. Everything but cryptocurrency is highly regulated, taxed, and custodial. Bitcoin is just the beginning. With private transactions (ring signatures, stealth addresses, shielded amounts), and proof of stake or voting consensus, there will soon be no way for governments to know who is transacting what, who owns what, or restrict the movement of capital. I’ll give you an example. I moved overseas, and all major brokers (Ameritrade, Vangaurd, Schwab, etc.) refused to serve me because of regulatory burdens. So what should I do? Everything but Bitcoin is illiquid or custodial. The future of cryptocurrency is my capital not being beholden to the whim of custodians and governments.

arcticbull 6y ago
> Theoretically, all else being equal, money should not lose or even gain purchasing power as technology advancements increase productivity. It, first of all, really doesn't matter so long as it's slow and predictable. I would argue that it should decrease in purchasing power to incentivize investing, and also to account for addition or removal of market participants (population changes) and also to react to shocks. > Bitcoin serves this purpose well, in ways that real estate, gold, and equities don’t. Respectfully disagree. 20% daily swings are normal. That's not serving the purpose well. That's utterly un-investable. Is it good for gambling? Totally. Investing? Absolutely not. > Everything but cryptocurrency is highly regulated, taxed, and custodial. Yes, this is a bad thing that Bitcoin isn't. It leads to scams, schemes and all sorts of shady garbage that completely distort the market. You've actually no idea whether the price is going up because of demand or because Tethers are being printed. I don't either. Nobody does - well, nobody not named Paolo. Every time printing stops the price goes down dramatically. I believe the DOJ is following up on the scathing NYAG indictment. That's bad, and it shouldn't be contentious to say that. > Bitcoin is just the beginning. With private transactions (ring signatures, stealth addresses, shielded amounts), and proof of stake or voting consensus, there will soon be no way for governments to know who is transacting what, who owns what, or restrict the movement of capital. Also bad because terrorism and crime. > I’ll give you an example. I moved overseas, and all major brokers (Ameritrade, Vangaurd, Schwab, etc.) refused to serve me because of regulatory burdens. So what should I do? Everything but Bitcoin is illiquid or custodial. The future of cryptocurrency is my capital not being beholden to the whim of custodians and governments. I'm not sure why American SEC regulated brokers would refuse to do business with an American citizen wherever located - after all they're the only ones permitted to. If you're not a US citizen and and now live abroad, there's plenty of other options, like IBKR. > Everything but Bitcoin is illiquid or custodial. I'm not sure why you think that's true. > The future of cryptocurrency is my capital not being beholden to the whim of custodians and governments. Again, I don't think that's a good thing.

arcticbull 6y ago

> Theoretically, all else being equal, money should not lose or even gain purchasing power as technology advancements increase productivity. It, first of all, really doesn't matter so long as it's slow and predictable. I would argue that it should decrease in purchasing power to incentivize investing, and also to account for addition or removal of market participants (population changes) and also to react to shocks. > Bitcoin serves this purpose well, in ways that real estate, gold, and equities don’t. Respectfully disagree. 20% daily swings are normal. That's not serving the purpose well. That's utterly un-investable. Is it good for gambling? Totally. Investing? Absolutely not. > Everything but cryptocurrency is highly regulated, taxed, and custodial. Yes, this is a bad thing that Bitcoin isn't. It leads to scams, schemes and all sorts of shady garbage that completely distort the market. You've actually no idea whether the price is going up because of demand or because Tethers are being printed. I don't either. Nobody does - well, nobody not named Paolo. Every time printing stops the price goes down dramatically. I believe the DOJ is following up on the scathing NYAG indictment. That's bad, and it shouldn't be contentious to say that. > Bitcoin is just the beginning. With private transactions (ring signatures, stealth addresses, shielded amounts), and proof of stake or voting consensus, there will soon be no way for governments to know who is transacting what, who owns what, or restrict the movement of capital. Also bad because terrorism and crime. > I’ll give you an example. I moved overseas, and all major brokers (Ameritrade, Vangaurd, Schwab, etc.) refused to serve me because of regulatory burdens. So what should I do? Everything but Bitcoin is illiquid or custodial. The future of cryptocurrency is my capital not being beholden to the whim of custodians and governments. I'm not sure why American SEC regulated brokers would refuse to do business with an American citizen wherever located - after all they're the only ones permitted to. If you're not a US citizen and and now live abroad, there's plenty of other options, like IBKR. > Everything but Bitcoin is illiquid or custodial. I'm not sure why you think that's true. > The future of cryptocurrency is my capital not being beholden to the whim of custodians and governments. Again, I don't think that's a good thing.