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None of them offer the probability of bitcoin. It's the most asymmetrical bet I've ever seen. The only reason it's not already $10M/BTC is that noone understan

by npoc 3y ago

None of them offer the probability of bitcoin. It's the most asymmetrical bet I've ever seen. The only reason it's not already $10M/BTC is that noone understands what it is - many people think they do, but they don't. As someone who has studied the subject for 100s of hours, I haven't come across a single valid argument for why it won't absorb all the stored value in the world over time. The hardest part is just being patient while everyone figures it out. The supply halving every 4 years helps to bring it to their attention :) Regarding potential value, this article offers food for thought: https://t.co/eLqJCYeCKW https://t.co/eLqJCYeCKW

TrackerFF 3y ago
I'll try: For BTC to absorb all stored value in the world, it would need to be the only currency in the world. That is the only way all assets in the world are bought/sold with BTC. But that alone is, IMO, a non-starter. It assumes that all countries in the world would more or less give up control of their own currency and economy - if BTC is the only currency worth anything, why would anyone own or get paid in anything other than BTC? Which brings me to the next point... This is not directed at you, but I think the BTC maxis severely underestimate the power and control that governments hold over these things. They can (and will) force you to pay your faxes, fees, and whatever they want in their currency, and have to power to use force if you chose not to. If crypto poses a legitimate threat to that power and control, it is much easier to remove the threat than to adapt your system to it.
- npoc 3y ago
  It does pose an extremely legitimate threat to their power, but there is nothing they can do about it. They can't stop it. They either embrace bitcoin or suffer economic collapse. The only reason there are so many fist currencies is because no country wants to be using a currency that another is printing for free. With bitcoin, that's not an issue and countries like El Salvador, Argentina would happily use it as the basis for a currency and thrive because of it. Over time, societies that use the best money win.
- audleman 3y ago
  > If crypto poses a legitimate threat to that power and control, it is much easier to remove the threat than to adapt your system to it. In fact the opposite of this is happening. We are in a discussion about how the SEC was ordered by the courts to further integrate Bitcoin into the existing financial system. Despite their protests and attempts to impose their own will on the rights of the people.
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by npoc 3y ago

TrackerFF 3y ago

I'll try: For BTC to absorb all stored value in the world, it would need to be the only currency in the world. That is the only way all assets in the world are bought/sold with BTC. But that alone is, IMO, a non-starter. It assumes that all countries in the world would more or less give up control of their own currency and economy - if BTC is the only currency worth anything, why would anyone own or get paid in anything other than BTC? Which brings me to the next point... This is not directed at you, but I think the BTC maxis severely underestimate the power and control that governments hold over these things. They can (and will) force you to pay your faxes, fees, and whatever they want in their currency, and have to power to use force if you chose not to. If crypto poses a legitimate threat to that power and control, it is much easier to remove the threat than to adapt your system to it.

npoc 3y ago
It does pose an extremely legitimate threat to their power, but there is nothing they can do about it. They can't stop it. They either embrace bitcoin or suffer economic collapse. The only reason there are so many fist currencies is because no country wants to be using a currency that another is printing for free. With bitcoin, that's not an issue and countries like El Salvador, Argentina would happily use it as the basis for a currency and thrive because of it. Over time, societies that use the best money win.
audleman 3y ago
> If crypto poses a legitimate threat to that power and control, it is much easier to remove the threat than to adapt your system to it. In fact the opposite of this is happening. We are in a discussion about how the SEC was ordered by the courts to further integrate Bitcoin into the existing financial system. Despite their protests and attempts to impose their own will on the rights of the people.

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