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Why is that though? Could it be that by a process of inflation and deflation of the money supply governments have historically manipulated the value of their p

by lowkey 5y ago

Why is that though? Could it be that by a process of inflation and deflation of the money supply governments have historically manipulated the value of their population's savings? Could it be that the current zero interest rate policy has made it impossible to save for the future without taking considerable risk in the stock market? Could it be that governments have made savings a joke, ensuring that anyone putting their savings in a bank is guaranteed to lose purchasing power over time? Could it be that some governments are so corrupt that they will force savers to accept negative nominal interest rates, so you get back fewer dollars/euros than you put in? Could it be that from inception Bitcoin was designed as a better form of money? One that does not leak it's value over time? One that cannot be manipulated by any government or powerful centralized entity because it is truly decentralized? One that comes with a fixed and predictable central bank inflation policy valid from now to the end of time that allows everyone to know exactly how many bitcoin will exist in a given year now, tomorrow or 20 years from now? Could it be that everything you assume you know about Fiat Currency and Bitcoin is incorrect? Could it be that the fact that you have been consistently wrong in under-appreciating and under-estimating the potential of Bitcoin, should teach you a lesson? That maybe you should examine the flawed assumptions that led you to ignore Bitcoin as yet another Ponzi scheme? What would it take for you to realize you are wrong?

ahtihn 5y ago
Why would it be desirable for people to hold on to their money instead of putting it to productive use?
- lowkey 5y ago
  It seems as though you are asking why anyone would want to delay immediate consumption in favor of saving for the future. Think of all the major expenses we take on on life healthcare, higher education, housing, retirement. These all generally require saving. Can you not imagine a world where it would be beneficial to individuals to have access to a savings vehicle that offered massively superior returns vs putting money in a savings account in the bank? In fact, unlike saving in a bank, saving in Bitcoin over the long term has proven to consistently outpace inflation. In fact Bitcoin’s return on investment over the past 12 years has 10x’d the equity market. Some may argue that Bitcoin is risky or speculative. I would argue that none of those who dismiss Bitcoin as risky or speculative have actually done the research to go down the rabbit hole to understand the economic, game theory, technical and social innovations of the Bitcoin protocol. Anyone who has spent 10-100 hours studying Bitcoin instead of dismissing it out of hand discovers an amazingly rich world that promises to deliver sound money to the world.
lultimouomo 5y ago
> Why is that though? I would venture that is because looking at green pieces of paper is fun for a while but gets old quite soon. A big ass boat is fun for a longer time, and says "I'm rich" louder than a number in a bank account. Real estate and stock are not much fun, but people will pay you to live in your flats and to buy stuff from the companies that you own, and this will get you a bigger boat (see above).

by lowkey 5y ago

ahtihn 5y ago

Why would it be desirable for people to hold on to their money instead of putting it to productive use?

lowkey 5y ago
It seems as though you are asking why anyone would want to delay immediate consumption in favor of saving for the future. Think of all the major expenses we take on on life healthcare, higher education, housing, retirement. These all generally require saving. Can you not imagine a world where it would be beneficial to individuals to have access to a savings vehicle that offered massively superior returns vs putting money in a savings account in the bank? In fact, unlike saving in a bank, saving in Bitcoin over the long term has proven to consistently outpace inflation. In fact Bitcoin’s return on investment over the past 12 years has 10x’d the equity market. Some may argue that Bitcoin is risky or speculative. I would argue that none of those who dismiss Bitcoin as risky or speculative have actually done the research to go down the rabbit hole to understand the economic, game theory, technical and social innovations of the Bitcoin protocol. Anyone who has spent 10-100 hours studying Bitcoin instead of dismissing it out of hand discovers an amazingly rich world that promises to deliver sound money to the world.

lultimouomo 5y ago

> Why is that though? I would venture that is because looking at green pieces of paper is fun for a while but gets old quite soon. A big ass boat is fun for a longer time, and says "I'm rich" louder than a number in a bank account. Real estate and stock are not much fun, but people will pay you to live in your flats and to buy stuff from the companies that you own, and this will get you a bigger boat (see above).