npoc

16 ms·

181.
by npoc 2y ago
> "Bitcoin remains a strangely useless asset that doesn’t do anything. All you can do with it is buy, sell, or hold." I have to laugh at people confidently making naive comments like this. How about: all you can do with it is s
182.
by npoc 2y ago
Banning it makes no difference other than possibly slow down it's adoption. Does banning the purchase and sale of drugs stop people buying and selling drugs? And as bitcoin is digital, it makes it far harder to stop as I can send it to
183.
by npoc 2y ago
Flowers are also a store-of-value, but like the dollar, not a very good one.
184.
by npoc 2y ago
But the value of dollar is halved every decade through supply inflation. That's why the price of houses doubles every decade while their value is relatively stable.
185.
by npoc 2y ago
Gold supply increases at a rate of around 1.5-2% per year. Last year gold supply increased by 4899 tons which gives 4899/212582 = 2.3% 2% annual increase means it doubles every 3.5 decades. https://www.lbma.org.uk/alche
186.
by npoc 2y ago
They'll most likely be using the IMF loan to buy more bitcoin.
187.
by npoc 2y ago
The author has a belief in "intrinsic value" which doesn't exist from an economical perspective. Value is demand/supply. The demand for bitcoin is for it's long-term store-of-value properties and the supply is hard-
188.
by npoc 2y ago
It's not about being rich. It's about making the right people powerful - not those who steal from the masses through monetary debasement. Our money is toxic. Having the most powerful people in the world being the biggest scammers
189.
by npoc 2y ago
ETFs only allow purchasing of spot bitcoin IOUs, whereas MSTR is open to a far bigger market (e.g. options, bonds, convertible bonds etc.)
190.
by npoc 2y ago
Comments like this remind me that we are still so early. What properties of gold do you think led to it becoming globally recognised as good money?
191.
by npoc 2y ago
Great rebuttal. It's not even copied and pasted. Lol HFSP
192.
by npoc 2y ago
Why wouldn't you? Before we had physical hard money (gold) Then we had paper tokens (dollar/euro/yen etc) Now we have digital hard money. Bitcoin is the digital hard money protocol. It's the ultimate savings tool. Mankin
193.
by npoc 2y ago
It's the perfect store of value. Even gold's above ground supply doubles every 3 or 4 decades. It's optimised for storing large amounts of value for long periods of time. Nothing else has the fundamentals that come close. As
194.
by npoc 2y ago
1. Txn fees are completely unrelated to miner activity. They are simply demand vs supply (7/sec). 2. The ledger grows at a rate that's lower than the value decrease of storage. Effect increases over time.. 3. Miners are incentiviz
195.
by npoc 2y ago
How many bubbles crash multiple times and to a significantly higher value each time? Will you still be comparing bitcoin to tulips when it crashes from $1.2M to $0.8M?
196.
by npoc 2y ago
What's the penalty for not reporting at all? Where does the obligation to report come from?
197.
by npoc 2y ago
Of course bitcoin's price will grow to over 300k. It's either going to 0 (highly unlikely) or it's going to $millions/BTC
198.
by npoc 2y ago
The use case is storing large amounts of value for long periods of time. Isn't this the single most important quality in order to be valuable over the long term? The bitcoin network is highly optimised for this and nothing else in the
199.
by npoc 2y ago
With power comes responsibility. You want to own something? You need to be capable of keeping it safe. If not entrust it to someone who is and hope they don't steal it. The same goes for everything in life. The fiat banking system has
200.
by npoc 2y ago
No - it's quite reasonable to project bitcoin increasing in value (not price) 100x from here.
201.
by npoc 2y ago
Hence it will
202.
by npoc 2y ago
What Michael Saylor is doing here is brilliant - the valuation is far from obscene. Within 10 years, Microstrategy will very likely be the richest company in the world. They already own >2% of all the bitcoin that will ever exist. Diffic
203.
by npoc 2y ago
You are continuously wrong about bitcoin. It's embarassing now.
204.
by npoc 2y ago
That makes no sense - it was a state entity that made the payout. The polar opposite of free market. "the Electric Reliability Council of Texas, a state entity that manages the grid, paid Colorado-based Riot $31.7 million in energy cre
205.
by npoc 2y ago
Michael Saylor explains in relatively simple terms here: https://x.com/Vivek4real_/status/1860737655442432504
206.
by npoc 2y ago
There's no trick. The real trick is fiat's lack of proof-of-work, which is what Microstrategy's exploiting. There is an enormous amount of money in the market that is prevented from buying/speculating on bitcoin and MSTR
207.
by npoc 2y ago
Economic value = demand / supply Not only that but demand increases the more capped the supply is, due to the incentive of less dilution of economic value through supply increase.
208.
by npoc 2y ago
Bitcoin is proof of work. Ethereum isn't. If money isn't proof of work then what is it?
209.
by npoc 2y ago
Absolutely. It's because they're controlled by the legacy finance system which can see that bitcoin is going to shut its money printers down.
210.
by npoc 2y ago
There's an interview with Sam Roberts of Cartwright, a consultant who helped advise the pension company here: https://www.youtube.com/watch?v=SlBw9WViJIg

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