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I see your point; all stocks are to certain (or large:) degree ephemeral. But at the same time, I like the quote: “Reality is that which, when you stop believi

I see your point; all stocks are to certain (or large:) degree ephemeral. But at the same time, I like the quote: “Reality is that which, when you stop believing in it, doesn't go away.” Apple's stock may crash; but there'll still be 10's of thousands of people selling 100's of millions of iPhones. They'll keep doing it, as I don't see interest in iPhones being cut off in a day (slow or fast decline, maybe). Heck, even Blackberry as a company is still around somewhere. Bitcoin is ALL market sentiment / vaporware / belief. (A comparison to Fiat money may be more apt, though would take me out of discussion - I simply haven't the foggiest deep understanding of "what if currency X crashes / how likely is it / what is it backed by REALLY if anything" )

sschueller 5y ago
Facebook is all "virtual". Their entire userbase could run to another platform within weeks to a point where it becomes too expensive to operate.
ur-whale 5y ago
> Bitcoin is ALL market sentiment / vaporware / belief. Sure, but if you take minute to think about it, so are iPhones. They sell because people want them. Supply and demand. You are then going to tell me about utility. I claim that: a) utility is just another way to describe demand b) cryptos do have utility: - shielding wealth from govt - shielding wealth from inflation - shielding wealth from disgruntled spouses - moving large quantities of wealth quickly across borders You might or might now agree with the "morality" of these attributes, but that's neither here nor there: when it comes to economic utility, that's not really a part of the conversation.
- gunshai 5y ago
  Personally I am pulling back on the inflation claim. Im not sure that the claim that bitcoin is an inflation hedge is accurate. Or at least I haven't investigated it enough to continue advocating that claim. I'm also not sure that bitcoin does shield wealth from government, at least in the US it doesn't. It certainly does a better job if your government is not the US. The other two claims I agree with. To me the utility of btc is simple. It's the ability to opt into a different and codified monetary policy. That policy is collectively securitized. If I don't agree with the monetary policy of a or any government I can opt I to a system outside of that. Imo this serves as competition to centralized banking.

sschueller 5y ago

Facebook is all "virtual". Their entire userbase could run to another platform within weeks to a point where it becomes too expensive to operate.

ur-whale 5y ago

> Bitcoin is ALL market sentiment / vaporware / belief. Sure, but if you take minute to think about it, so are iPhones. They sell because people want them. Supply and demand. You are then going to tell me about utility. I claim that: a) utility is just another way to describe demand b) cryptos do have utility: - shielding wealth from govt - shielding wealth from inflation - shielding wealth from disgruntled spouses - moving large quantities of wealth quickly across borders You might or might now agree with the "morality" of these attributes, but that's neither here nor there: when it comes to economic utility, that's not really a part of the conversation.

gunshai 5y ago
Personally I am pulling back on the inflation claim. Im not sure that the claim that bitcoin is an inflation hedge is accurate. Or at least I haven't investigated it enough to continue advocating that claim. I'm also not sure that bitcoin does shield wealth from government, at least in the US it doesn't. It certainly does a better job if your government is not the US. The other two claims I agree with. To me the utility of btc is simple. It's the ability to opt into a different and codified monetary policy. That policy is collectively securitized. If I don't agree with the monetary policy of a or any government I can opt I to a system outside of that. Imo this serves as competition to centralized banking.