npoc

37 ms·

541.
by npoc 3y ago
The way I see it used makes no sense. Does paper currency have any intrinsic value?
542.
by npoc 3y ago
HFSP :-D
543.
by npoc 3y ago
There's no such thing as intrinsic value
544.
by npoc 3y ago
It's how most of the crypto market fools people. Some guy clones bitcoin in his basement, increases the block size/rate (or something stupid like that to use as a sales pitch), sticks a picture of a moon on it, pre-mines 99.99% an
545.
by npoc 3y ago
It uses about the same energy as video gaming, and less energy than gold mining. Using energy is the basis for civilisation. If you've paid for your electricity, you can plug in whatever you want. Its how we create the electricity that
546.
by npoc 3y ago
Agreeing on the economic value of something does not make it fiat. There's a big difference between something having ”economic value” and being something you value. For example you probably value air - you'd die within minutes wit
547.
by npoc 3y ago
Unfortunately I'm no longer given the option to reply to your latest comment. But I've said everything I wanted to say. That you can't entertain the idea of money containing a form of energy or the quantitative theory of mone
548.
by npoc 3y ago
The base layer of bitcoin (the bitcoin network) needs to be at least pseudo-anonymous in order to validate the supply issuance. But there's nothing stopping higher level networks implementing privacy. Lightning does a good job already
549.
by npoc 3y ago
Absolutely we can, nice idea - although Antarctica might be more economically viable. Not that the water concern is at all legitimate.
550.
by npoc 3y ago
I'll ignore the unnecessary personal attack in the first half. You were the one that accused me of being too invested in bitcoin to change my mind, and I retaliated by pointing out the reverse can be equally said. I'm certainly no
551.
by npoc 3y ago
But the whole point of bitcoin is that it solves the digital double spend problem you mention. Let's zoom out and talk about the basics of money (some of which you maybe already know). Okay, so in theory we could use anything as mone
552.
by npoc 3y ago
> "To skip over that right to "but think about how much you're missing out" is... I don't know, I've seen people make this pitch better." To clarify, I was pointing out that you're more invested in
553.
by npoc 3y ago
> "Someone who has their entire net worth invested into a coin is never going to be swayed by technical arguments about how it works or by economic arguments, or really by anything." This isn't true. I can buy back fiat wi
554.
by npoc 3y ago
You say "I have heard every argument you make here. I have been in this space, I have heard the talks, I have heard the economic theories." but I can tell quite clearly from everything you've said that if you've spent ti
555.
by npoc 3y ago
The reason I'm so confident that you must have missed something is because I'm so confident that I'm right about bitcoin. Why are you confident the earth is round? It's because you've been able to debunk every bit o
556.
by npoc 3y ago
You must still be missing something if you think it's a waste of energy. You might understand the "tech", but probably not the economic side. Do you understand the scam that is central banking? For example, do you realise th
557.
by npoc 3y ago
I'm a vegan and bitcoiner and I'm afraid you have no idea what you're talking about concerning bitcoin. I recommend you watch some Michael Saylor interviews.
558.
by npoc 3y ago
There's nothing stopping an asset of increasing scarcity becoming a currency, providing the government isn't able to suppress it. In fact, it would have an extremely strong chance of doing so due to it's better store-of-value
559.
by npoc 3y ago
Go ahead and copy bitcoin and see if it gets you anywhere (thousands have already tried). What makes bitcoin valuable, other than having by far the best fundamental monetary qualities mankind has ever seen (and almost certainly will ever se
560.
by npoc 3y ago
No those currencies are called representative currencies - the electronic digits you receive represent entitlement to some commodity stored somewhere. With physical commodities that are difficult to audit, this system was abused which led u
561.
by npoc 3y ago
No fiat means by decree. Its used to differentiate money that takes equal or more work to create/issue (e.g. gold), from money whose issuance is controlled by the central banks who can create it out of thin air with little to no work.
562.
by npoc 3y ago
Learn about Gresham's law, and the reasons gold became valuable (clue: it's not because it's shiny)
563.
by npoc 3y ago
You called fiat "real money"? That's where you're wrong.
564.
by npoc 3y ago
You probably don't understand the enormous world-corrupting problem with fiat currencies.
565.
by npoc 3y ago
Try learning about the debasement of fiat currencies and the effect on society.
566.
by npoc 3y ago
If you understood the damage to mankind caused by fiat currencies, then you would see that at 5%, it would be well worth the price. Anything appears wasteful if you don't appreciate the reward it provides. Ultimately the market will de
567.
by npoc 3y ago
Any resource usage appears to be waste if you don't appreciate the reward