eric_cc

53 ms·

271.
by eric_cc 4y ago
Same fiat paper currency.
272.
by eric_cc 4y ago
> Luna crashed because people lost trust in it. No. It crashed because trillions of tokens were created rendering each token worthless.
273.
by eric_cc 4y ago
Same with paper fiat currency.
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by eric_cc 4y ago
> BTC supply is capped. It's not. Yes, it is. They are not introducing BTC into circulation. This is verifiable via the blockchain. Banks creating IOU's or derivatives or whatever other abstraction they can come up with never g
275.
by eric_cc 4y ago
First you'll have to explain to me why you would give somebody your bitcoin and allow them to give it to somebody else!
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by eric_cc 4y ago
> it is merely extremely hard. Care to elaborate how it could be done? Even if it were to happen, which it could not, the chain would fork from the moment before the hack and continue on without the hack.
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by eric_cc 4y ago
No. There is still 1 BTC in this scenerio. When you choose to deposit your 1 BTC you've lost custody of it and somebody else has gained possession of it. All you have is a promise that you'll get it back - which is not === BTC.
278.
by eric_cc 4y ago
I think it would sooner be rendered obsolete for another reason before this scenario. It would take a long, long time for this to play out.
279.
by eric_cc 4y ago
Sure price movements are in sync during general risk on/off pressures. Same can be said about categories of companies in the stock market. e.g. SAAS companies, oil companies, etc move together..
280.
by eric_cc 4y ago
> There absolutely is Banks and/or exchanges cannot create more bitcoin.
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by eric_cc 4y ago
> headline after headline This has more to do with media and social media thought bubbles. This is no different than any other topic in the news. There are highly intelligent takes out there. But click bait, trolling, and confirmation bi
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by eric_cc 4y ago
Terra (token LUNA) is its own chain. Trillions of brand new LUNA tokens were minted within the span of a day or so rendering the token worthless. This is due to the way LUNA was tied to the algorithmic stablecoin UST. It was a true ponzi. B
283.
by eric_cc 4y ago
LUNA minted trillions of brand new tokens within the span of a day or so rendering the token worthless. This is due to the way LUNA was tied to the algorithmic stablecoin UST. It was a true ponzi. BTC's max supply is capped and the rel
284.
by eric_cc 4y ago
Ah fair enough. I misunderstood your comment. I thought you were suggesting 60k was the ALL TIME high bitcoin will ever achieve. As for timelines - that's anybody's guess.
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by eric_cc 4y ago
> Doesn't the first line answer the second? To be clear, you're suggesting: "because people are uneducated about bitcoin and crypto, when one project fails they will incorrectly connect it to bitcoin. And that's bad f
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by eric_cc 4y ago
> I mean it's not going back up to $60k. Oh man. I'll have fun poking you next year about how embarrassingly wrong you were.
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by eric_cc 4y ago
> 'this is good for bitcoin' A total ponzi scam coin crashed. This IS good for Bitcoin. Bitcoin is not Luna nor is it one of the thousands of other garbage scam coins. The faster those coins are proven scams the better. Too man
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by eric_cc 4y ago
> the etherium company LOL
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by eric_cc 4y ago
> what would Reddit gain I think you nailed it. It’s a victory for USERS - owning your own assets in a way that does not require you to trust the platform. It’s not so great for centralized platforms.
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by eric_cc 4y ago
> Venmo, CashApp, Zelle, etc. These are layers on top of the dollar. I agree they’re a great consumer experience. Why not equally nice layer on top of bitcoin?
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by eric_cc 4y ago
> You'll have to forgive me if I disagree that "mindblowingly amazing" constitutes "intrinsic value". 100% agree. I did not mean to argue that the value is in the fact that it is amazing. The value is in the trus
292.
by eric_cc 4y ago
Who said anything about boring vs exciting? You’re projecting.
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by eric_cc 4y ago
> when it was clear it would never be a currency But it IS a currency.. It is uses for daily payments and legally considered a currency in multiple countries today. I fully expect that list to balloon up over time. You're talking ab
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by eric_cc 4y ago
Late stage bitcoin is: It's trustless, sound money and therefore better than my bullshit fiat.
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by eric_cc 4y ago
> Crypto doesn't have that quality even hypothetically And does paper fiat have intrinsic value? Bitcoin is trustless money. It's mindblowingly amazing that we now have trustless money. We've never ever had that before. Th
296.
by eric_cc 4y ago
> I agree that BTC has little inherent value The bitcoin network is extremely valuable. Trustless money is important in a world where all other currencies are created, controlled, and manipulated by governments. We know humans are prone
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by eric_cc 4y ago
> People buy it because they expect the price to go up. Some* people buy it because they expect the price to go up. Other people are switching to bitcoin because it is better money than their local currency. > everything it does can b
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by eric_cc 4y ago
> Bitcoin ... to be a commodity instead of a currency According to current (May 2022) regulatory framework in the USA. In other countries it is currently a currency.
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by eric_cc 4y ago
This is bullshit and you know it. Source: savings accounts.
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by eric_cc 4y ago
both fiat and bitcoin currencies are purely memes when you really think about it.

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