npoc

19 ms·

211.
by npoc 2y ago
There's two prerequisites: a) it has to have the fundamental properties of a good store of value b) it requires the time it takes for most people in the world to realise this (or at least simply accept that it is a good store of value,
212.
by npoc 2y ago
No the open-minded young see the potential, buy the asset while it's cheap and the slow pension funds in the legacy financial system eventually catch on and buy in with much larger quantities, pumping the value as they do so. The boome
213.
by npoc 2y ago
Many people won't ever sell their bitcoin - they will spend it (once Gresham's and Thier's laws have played out)
214.
by npoc 2y ago
In terms of significance, bitcoin ranks alongside the wheel, the printing-press and the internet. The use-case is to stop the wide-spread theft of your wealth, often (as in your case) without you realising, enabled by the fiat money printer
215.
by npoc 2y ago
Have you looked into how much power gold mining uses? Bitcoin vs Spain - I'd turn the power off to Spain every time. You are the brainwashed result of a system that is able to print as much money as it needs to brainwash you into belie
216.
by npoc 2y ago
Gold itself is proof of work
217.
by npoc 2y ago
The fact that you interchange the words "bitcoin" and "crypto" says all I need to know.
218.
by npoc 2y ago
The first step in the growth of any medium of exchange is to prove itself as a stable store of value. Otherwise it can't be used as a unit of account. And the first step in proving itself a stable store of value, is to begin storing va
219.
by npoc 2y ago
Incorrect - the term inflation is rooted in the inflation of a money supply, which leads to devaluation of the monetary unit and therefore a rise in prices. Bitcoin is deflationary as at some point in the future the total supply will decrea
220.
by npoc 2y ago
It's not hope. It's knowledge. In a few decades or even maybe a century, your loan to the dog walker will be denominated in bitcoin.
221.
by npoc 2y ago
No, the opposite. To not spend - to save in.
222.
by npoc 2y ago
This comment won't age well.
223.
by npoc 2y ago
Yes, that's the point. Bitcoin offers a global escape from the enormous stealth theft that most people aren't aware is even happening to them.
224.
by npoc 2y ago
You're either terminally apathetic or you don't understand the profound negative effect that allowing a small group of people to print money that every one else has to work for has. It's the most important issue in the world
225.
by npoc 2y ago
This is quite a monumental moment. Slowly, then suddenly.
226.
by npoc 2y ago
It's simply protection against theft that is money supply inflation. Did you know that the number of dollars doubles every decade on average? And the effect that has on the value of each dollar (it halves it).
227.
by npoc 2y ago
Bitcoin is truth in a mad world. Bitcoin doesn't need Trump. Trump needs bitcoin.
228.
by npoc 2y ago
Have you heard of the halving?
229.
by npoc 2y ago
Buying bread is the economy. If I have to hand over more and more value over time for the same amount of bread (that is easier and easier to manufacture each decade), then "the economy" isn't doing well. If I hold the scarc
230.
by npoc 2y ago
Truly decentralised proof-of-work, with network effect.
231.
by npoc 2y ago
Both are speculating. Both are taking on risk whether they understand it or not. I would argue that the risk of bitcoin being a lower value in ten years is tiny, and also that chance of the dollar's value halving or worse over the same
232.
by npoc 2y ago
you're clearly both highly intelligent and humorous
233.
by npoc 2y ago
What you're missing is that it costs the same $2.00 to transfer $1T-worth of bitcoin. Try that with anything else that offers final settlement. The base Bitcoin layer/network is optimised for storing large amounts of value for lon
234.
by npoc 2y ago
This is meaningless. You are using a bank speculating that it will not suffer a bail-in/bail-out/hyperinflation.
235.
by npoc 2y ago
The fact is that bitcoin's current primary use-case is long term store of value. To use bitcoin is to simply hold it for years, protecting yourself from the dilution of value that occurs in any other liquid asset in the world, of which
236.
by npoc 2y ago
The point is that you don't need to trust anyone in particular i.e. trust is not enforced (never a good thing). You get to choose who you trust. You can choose not trust anyone and create and run a bitcoin node with first-hand knowled
237.
by npoc 2y ago
We already have money that doesn't take any energy to create and look where that got us. Gold is proof of work and look at how that has stood the test of time. Ultimately, money is a high-level form of energy. It's only natural th
238.
by npoc 2y ago
Who are they really trying to protect?
239.
by npoc 2y ago
You have no idea what money really is. The reality is that fiat is the leech on society. It's a cancer on the world, slowly destroying it. Bitcoin is the cure. It's one of the most important inventions in the history of mankind an
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by npoc 2y ago
That's because you don't know enough to understand why bitcoin is far more useful to humanity than air conditioning. In fact it's not even comparable.

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