it was predicted to go to 75k or even 100k this year so there is still time… right? Bitcoin is isn’t collapsing, it’s current value matches the current supply, it’s working exactly as intended.
But the intent has changed and morphed a lot, Satoshi invented quite the AI currency.
Also, you have to read up and read the “It was made after the crash of 2008 to prevent that from happening” and than the recent rebuttal “Hey, it crashed harder than 2008 and “no refunds!” (bailouts).”
Nope, the intent of BTC has remained the same as it was from day 1. People being led to believe something that isn’t true is the only issue.
Like I said before, it’s strangely defined.
“Not meant to be more and more expensive” vs “Look at muh log graph! It is going up forever!”
There is more just scroll up. It’s redefined as the opposite of whatever it was defined as just to prove it will go on forever. The Digital Titanic?
One would think that if they completely ignored the creators of BTC and instead took people like do kwon’s word for gospel.
You’ll have to accept this type of thing appeals to peoples desire and greed,
This is the thing I was wondering about, where did Satoshi go? Is he even alive? Wasn’t his creation taken over and being destroyed by the system he wanted to destroy?
**taken over might not be the good word but corrupted/influenced/ drawn into the light out of the dark web?
Also, a nice meme; not going to let the awesome super-tread go stale!
That wasn’t the goal. fiat is still useful and I mentioned that BTC works in addition to fiat currency since it has a vs value against them. Nobody can say they don’t know what currency is, and I think if they started understanding BTC is a limited amount currency it would make things easier.
Everyone should know the value of any currency goes up and down, and if you’re around 40 years old, then at some point in your life you will have seen how it goes when a currency loses value.
It seems governments print and then burn fiat currency as and when needed, (can you see the benefit of BTC in relation to this?) Printing obviously lowers the value of fiat and burning fiat will increase the value of fiat in current circulation. So as you can see both fiat and BTC have a similar process which can either increase or decrease the value. The difference is one is set and then managed by a computer program and the other is managed by people.
When I was 8 I saw them burning money on the news, I was like OMG! what are they doing! Give the money to poor instead of burning it! But obviously I understand now lol.
If we take a serious look at society we will see that we have employed computer systems to manage many parts of our lives and countries.
So, I must ask the question; Why is there suddenly a massive problem when we decide to use a computer system to manage one of our currencies? Computer systems are good enough to manage our Gas, air traffic control, electric grid, credit debit card systems, hospital and emergency equipment, safe vehicle design, food processing, you get my point.
We can’t say computers can manage everything else except the creation of currency, in 2022 such a statement isn’t logical since computers do an amazing job at everything else.
Regarding the USD printing, they printed over $1.5 trillion and gave it out, then they will set interest rates higher for a period of time. Maybe in about 3 to 5 years they will burn $1.5 trillion which will increase the value. It looks like they’re borrowing money from the future or borrowing money the economy hasn’t yet generated.
Bitcoin is rigid, the BTC value calculation seems to ask How much is available, and how much is not available, and then a value is generated from those 2 variables. When we look at it in simple terms we can see what others are getting excited about.
BTC forces everyone in the world to work together rich and poor, if every adult on the planet owned BTC and used it for a couple of their transaction and retailers accepted it then we will see a BTC value of over £250k per BTC. What we must understand is it could take 40 years to get to this point.
I believe this is the kind of thing Satoshi’s vision aimed to inspire, it is true that BTC has uses, cheap money transfer, a level of privacy, it is also true BTC amount is limited, so is it reasonable to conclude BTC will have a high value one day?
Even now, we can see periods of stability if we analyse carefully, we should keep an eye on world events and understand the reasons people start buying or selling massive amounts of BTC and then consider that with the price of a BTC.
If we take a quick look at Microstratagy all they are really doing is freezing about £2 Billion fiat value in BTC. So even though say 5 years time on paper their BTC holdings might be valued at £5 billion or £6 Billion, that will just be the current £2 billion value in fiat 5 years later, so BTC is not actually earning money it’s just holding or freezing value.
If anyone investing in BTC had this understanding then their actions would be to invest a small humble amount, maybe they want the fiat value maintained for a purchase they have next year, or just something where they can buy £50 worth of BTC per month and freeze that value over a couple of years. BTC should be about millions of little guys freezing fiat value in a humble and normal non-greedy manner, again this is the sort of thing Satoshi’s vision aimed to inspire.
BTC is starting to look like the digital mattress.
If you really want to understand the mechanisms of money, cryptocurrencies and those of capitalization, I strongly advise you to read the following scientific books:
1- Money instructions, by Paul Jorion,
2- Capital in the 20th Century, by Thomas Piketty…
Because if I may allow myself this small remark, you are both literally on the street on these fundamental questions, moreover, it is not on a forum such as this one that it will be possible to clarify everything. on this topic.
So read on!
On the other hand, the only conclusion that can be drawn so far is the following:
In a finite medium, apart from the infinitely small, the infinitely large is impossible; if you want to reach for the infinitely large, you will have to accept the fact that the Earth alone will not be enough, and you will have to explore worlds located well beyond the terrestrial exosphere.
In other words, on Earth, any bubble, whether fiduciary or crypto, must sooner or later return to its original state, namely that of absolute zero; because the natural tendency in a finite medium is to tend towards the infinitely small (that of the multiples), and therefore in no case towards the infinitely large (that of the unique).
However, the ultraliberalism at work on Earth is equivalent to the implementation of an unbridled capitalism encouraging the formation of all these bubbles precisely, so inevitably, one day or another: whammy…
Even Satoshi’s BTC depends entirely on this finite physical medium, because there can’t be BTC without energy consumption, and there can’t be energy without resources; this is probably Satoshi’s main negligence, which does not mean that BTC is rubbish, as NFTs can eventually fill in the gaps through a fairer distribution…
Even governments have nothing to do with it; their only role is to regulate the existing ultra-liberal system as well as possible by patching it, so that their populations can at least absorb the resulting shocks; and just that, it’s a real hassle because of the systemic complexity of the finite environment within which we are constantly trying to evolve.
Then, add to all this a broken gear on the climate side, a nasty virus in circulation, then an ugly free singleton like Vladimir Putin refusing to bow to international collective choices, and you inevitably get a mess^10; and still, even there, I am nice…
Because everything here is only a question of maximum natural entropy; see this as our natural attractor, in the mathematical sense of the term (Lorentz butterfly effect).
To understand all this, it is more difficult to observe nature itself, which all these budding traders unfortunately never do.
This is also why governments will eventually have to impose a sustainable responsible system on us with much more fairness than freedom, and this in order to allow us to avoid our own extinction…
So happy reading!
Ully Loom
Price is changing because it have to match peoples expectations also, and those are changing day to day. It depends on people emotions and predictions what they will do with BTC.
Dude, WTF is wrong with you. I clearly wrote they just allow their members to hold Bitcoin. I did not say they will buy any, and honestly I don’t even expect them too.
All this really does is further legitimize it as something that is here to stay.
Bitcoin was basically built to replace exactly this people. So it should be no surprise they are not very thrilled about it’s existence and will probably do whatever they can to delay the inevitable.
Even in their abstract they say: “The Committee believes that the growth of cryptoassets and related services has the potential to raise financial stability concerns and increase risks faced by banks.”
So why would they say that and then allow 1% exposure? I think it’s to prevent speculative attacks on their fiat currencies.
Here is a nice comparison of CBDC to Bitcoin:
The thing is about all crypto assets. They will have their own, but first they have to describe which are good and which are bad. Bitcoin was thrown into bad.
They still use a lot of safeguards to see where it is all going. Its like allowing your child to have a shot of whisky, just so it knows how unapropriately to the allure it tastes and dont want it.
I guess you are right, only a select few governments who were put in a bad situation use BTC to try and become independent. And do not forget a runner up for the USD is already having support of more than two small dictatorships. So BTC fell instantly to 3rd position with one agreement between BRICS countries.
Remember sanctions did nothing to South Africa yet work well on countries who are not 100% self sufficient.
BTC would make sanctions worthless thus making counties use force more often to solve issues.
I like this one although it’s outdated. And very abstract as it does not wonder why anyone would send money internationally pseudonymously.
BTC isn’t nothing but it certainly isn’t anywhere near the solution it’s promoted to be.
A survey published last month by the U.S.-based National Bureau of Economic Research (NBER) suggests that only 20% of Salvadorans are still using the Chivo e-wallet.
That’s pretty good going for such a short space of time. In my opinion anyway. after all we are talking about a new currency and critics complain because everyone wasn’t using it the next day.
Yeah it should be no ones business to wonder why I send money internationally actually. I know you probably buy the whole terrorism and money laundering narrative, so you will gladly sacrifice all your privacy, because you think you have nothing to hide anyway.
It’s sad that we never learn from history and that fascists always manage to establish complete control by playing on peoples naive fears.
You probably think that comic is just fiction. But it already happens. Remember what happened to Wiki Leaks funds when they exposed the US war crimes. They where one of the first that had to adopt Bitcoin because they froze their accounts. A CBDC will make this far more efficient. It is a dystopian nightmare.
Do you actually think they will not abuse their power? In today’s climate, where the political parties don’t shy to portray even their political opponents or people who organize demonstrations as terrorists?
You think you have nothing to hide, but you have. Even if you think some of your views you have today are not problematic and don’t get you in trouble, it might with the next government that comes to power, or the one after that. And your data and payment history will still be there, ready to be searched for hints about people who could held problematic views and have to be dealt with.
And then if it so happens that you are in the list the algorithm produces, you belongings will be wiped out at the push of a button.
This isn’t about number go up, this isn’t about energy efficiency. It’s about taking away this insane power from everyone, because we now have money that doesn’t require anyone to have this power in the first place. That is the innovation.
If you listen to the promotion by Do Knowns and the people who said you can get rich from BTC yes. You’ll have to accept the creator said nothing about being rich from BTC. You’ve been had.
They can go ahead and scam people, but at some point they will have to answer for what they have done, I’m not sure it’s possible to live when you’re constantly on the run, You get tired of running.
“OneCoin victim Jen McAdam told the BBC back in 2019 that she and her friends and family had thrown a quarter of a million euros away.”
