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This advantage for $USD is already beginning to vanish. Assuming it does, are there any other reasons to be bullish $USD?

01acheru 5y ago
First of all I’m not seeing this advantage “beginning to vanish”. Even assuming it completely disappears we still need to solve: - energy inefficiency of BTC - extremely low number of transactions per unit of time - a currency lacking the possibility of reversing transfers is not compatible with most legal systems - full traceability of my wallet transactions open to the public - volatility And those are the first I can think of while paying little attention because I’m watching a movie…
- eric_cc 5y ago
  Okay but the question was: what’s the bull case for $USD?
  - 01acheru 5y ago
    We started from your question “What properties does it have that make it superior to currencies like $BTC in your opinion?”. Then you changed subject about being bullish when replying. So you must either decide: are we talking about currencies or about speculative assets? There are no reasons to be bullish about currencies, that’s not their purpose.
    - eric_cc 5y ago
      > There are no reasons to be bullish about currencies, that’s not their purpose. Whether you hold currencies, stocks, cryptos - these are all positions with various possible outcomes. A currency can become worthless through hyperinflation, for example. So yes, you absolutely should be sizing up your currency position and deciding whether it is to your advantage to hold it. You can say a currency bull case is that it’s stable representation of value. That thesis could play out or completely break down depending on how the government in control of the currency behaves themselves.
      - 01acheru 5y ago
        Stocks and currencies don’t behave the same, currencies in the long term are bearish. Anyway if you think about bulls and bears you are not thinking of currencies, you better put your money into more volatile markets. A bullish currency is against our modern conception of how economical models work, so I wouldn’t place my money on it. I’m not saying you shouldn’t place your money on BTC or other crypto, it’s kind of a good time right now since we are full bear and a bull period is probably starting soon. I mean, by watching historical trends and aknowledging the contingencies that pushed down values in those last months, maybe we’ll have to wait some time but it should bull during 2022. All in all, crypto market is still not a currency market but an asset market. Just for one simple reason: crypto (currencies?) are still not currencies. When crypto will turn into currencies you’ll start seeing a inexorable slow bearish course for all of them, it’s economics baby ;)
- jimbob45 5y ago
  Not to mention the centralization of much of the coinage of BTC/Ethereum in the cryptocurrency exchanges. The killer feature of BTC is the ability of the entire population to achieve consensus about who owns what and have ultimate faith in the whole process. Owning BTC through an exchange is antithetical to the whole concept of BTC. It's questions like yours that never get answered when others are trying to sell me on cryptocurrencies. These are basic questions that must have answers before BTC would ever be able to operate as a currency at all, let alone the currency.
chii 5y ago
> This advantage for $USD is already beginning to vanish. this is an incorrect premise from which to draw any conclusions tho. Hypothetically, if this was true, then it would also imply the world economy and order to be changing, such that your way of life is going to be turned upside down. For example, world war 3.
- eric_cc 5y ago
  Crypto is one of the great revolutions of the past several hundred years in terms of disrupting the world order and rearranging power on a global level. Few understand this yet.

01acheru 5y ago

First of all I’m not seeing this advantage “beginning to vanish”. Even assuming it completely disappears we still need to solve: - energy inefficiency of BTC - extremely low number of transactions per unit of time - a currency lacking the possibility of reversing transfers is not compatible with most legal systems - full traceability of my wallet transactions open to the public - volatility And those are the first I can think of while paying little attention because I’m watching a movie…

eric_cc 5y ago
Okay but the question was: what’s the bull case for $USD?
- 01acheru 5y ago
  We started from your question “What properties does it have that make it superior to currencies like $BTC in your opinion?”. Then you changed subject about being bullish when replying. So you must either decide: are we talking about currencies or about speculative assets? There are no reasons to be bullish about currencies, that’s not their purpose.
  - eric_cc 5y ago
    > There are no reasons to be bullish about currencies, that’s not their purpose. Whether you hold currencies, stocks, cryptos - these are all positions with various possible outcomes. A currency can become worthless through hyperinflation, for example. So yes, you absolutely should be sizing up your currency position and deciding whether it is to your advantage to hold it. You can say a currency bull case is that it’s stable representation of value. That thesis could play out or completely break down depending on how the government in control of the currency behaves themselves.
    - 01acheru 5y ago
      Stocks and currencies don’t behave the same, currencies in the long term are bearish. Anyway if you think about bulls and bears you are not thinking of currencies, you better put your money into more volatile markets. A bullish currency is against our modern conception of how economical models work, so I wouldn’t place my money on it. I’m not saying you shouldn’t place your money on BTC or other crypto, it’s kind of a good time right now since we are full bear and a bull period is probably starting soon. I mean, by watching historical trends and aknowledging the contingencies that pushed down values in those last months, maybe we’ll have to wait some time but it should bull during 2022. All in all, crypto market is still not a currency market but an asset market. Just for one simple reason: crypto (currencies?) are still not currencies. When crypto will turn into currencies you’ll start seeing a inexorable slow bearish course for all of them, it’s economics baby ;)
jimbob45 5y ago
Not to mention the centralization of much of the coinage of BTC/Ethereum in the cryptocurrency exchanges. The killer feature of BTC is the ability of the entire population to achieve consensus about who owns what and have ultimate faith in the whole process. Owning BTC through an exchange is antithetical to the whole concept of BTC. It's questions like yours that never get answered when others are trying to sell me on cryptocurrencies. These are basic questions that must have answers before BTC would ever be able to operate as a currency at all, let alone the currency.

chii 5y ago

> This advantage for $USD is already beginning to vanish. this is an incorrect premise from which to draw any conclusions tho. Hypothetically, if this was true, then it would also imply the world economy and order to be changing, such that your way of life is going to be turned upside down. For example, world war 3.

eric_cc 5y ago
Crypto is one of the great revolutions of the past several hundred years in terms of disrupting the world order and rearranging power on a global level. Few understand this yet.