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> Eventually all fiat currencies will be worth less than 1 sat. The idea that this specifically matters surely arises from the same logic that thinks certain c

> Eventually all fiat currencies will be worth less than 1 sat. The idea that this specifically matters surely arises from the same logic that thinks certain companies are worth more or more performant because their per-share price is higher.

randomhodler84 5y ago
You are missing what is going on. It has nothing to do with this. The average life of a fiat currency is 27 years. Your confusion is the share price is denominated in fiat, which is decreasing.
- Volundr 5y ago
  What is BTC if not a fiat currency?
  - randomhodler84 5y ago
    There is a lot of debate about it you would consider BTC a fiat currency. NYFed considers it so. Many Bitcoiners do not agree, rather that term is used for central bank currencies. It comes down to your definition of fiat currencies. From context, I was referring to central bank issued currencies aka fiat currencies. It has to be issued by a State. As opposed to cryptocurrencies that are issued by either mining, or genesis block issuance.
- fennecfoxen 5y ago
  ahem i don't know if the crypto and meme-stock worlds realize this, but... out here in the real world we have tools to correct for that; you can compute things like a "real rate of return" on your holdings and see it come up positive, because... well, I know this will seem fantastical to crypto-land especially, but imagine having an asset that actually does something useful while you own it, making income, instead of just existing for speculation!!! it's much better than loaning it out through dodgy exchanges for the purposes of speculation. we actually have nice things like this in the real world, and when we go through routine turbulence (like the last month) our losses are more like 10% of holdings, instead of, like, 50%.
  - randomhodler84 5y ago
    This ain’t my first rodeo. I’ll take the 140% pa for the occasional 50% draw down. We are playing very different games you and I. As the crypto markets mature, and robust Money markets increase in liquidity, such tradfi metrics can be calculated too. Thing is, eventually you realize it’s all bullshit and just go all in on BTC, the only honest coin in the room.
    - fennecfoxen 5y ago
      > We are playing very different games you and I. Yes. One is investing, and the other is speculative grift. And if you're not utterly ruined then you may very well end up with substantially more money than I have. In the event that this happens, I hope you find that the money is its own reward, because that will be the full extent of your reward. Certainly there will be no special plaudits from society in general.

randomhodler84 5y ago

You are missing what is going on. It has nothing to do with this. The average life of a fiat currency is 27 years. Your confusion is the share price is denominated in fiat, which is decreasing.

Volundr 5y ago
What is BTC if not a fiat currency?
- randomhodler84 5y ago
  There is a lot of debate about it you would consider BTC a fiat currency. NYFed considers it so. Many Bitcoiners do not agree, rather that term is used for central bank currencies. It comes down to your definition of fiat currencies. From context, I was referring to central bank issued currencies aka fiat currencies. It has to be issued by a State. As opposed to cryptocurrencies that are issued by either mining, or genesis block issuance.
fennecfoxen 5y ago
ahem i don't know if the crypto and meme-stock worlds realize this, but... out here in the real world we have tools to correct for that; you can compute things like a "real rate of return" on your holdings and see it come up positive, because... well, I know this will seem fantastical to crypto-land especially, but imagine having an asset that actually does something useful while you own it, making income, instead of just existing for speculation!!! it's much better than loaning it out through dodgy exchanges for the purposes of speculation. we actually have nice things like this in the real world, and when we go through routine turbulence (like the last month) our losses are more like 10% of holdings, instead of, like, 50%.
- randomhodler84 5y ago
  This ain’t my first rodeo. I’ll take the 140% pa for the occasional 50% draw down. We are playing very different games you and I. As the crypto markets mature, and robust Money markets increase in liquidity, such tradfi metrics can be calculated too. Thing is, eventually you realize it’s all bullshit and just go all in on BTC, the only honest coin in the room.
  - fennecfoxen 5y ago
    > We are playing very different games you and I. Yes. One is investing, and the other is speculative grift. And if you're not utterly ruined then you may very well end up with substantially more money than I have. In the event that this happens, I hope you find that the money is its own reward, because that will be the full extent of your reward. Certainly there will be no special plaudits from society in general.