You brought up crypto, when the topic was related to my comment âThey all fail sooner or later.â And now attempting to use that for an equivocation.
What a tool.
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LOL, keep dancing.
I did no such thing, liar.
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Its not about currency, its about the principles and economy. If those fail, currency only follows suit.
Principle of bitcoin is speculation derived from butterly wings flapping. All the other principles dont matter. All other principles of cryptocurrencies dont matter, just look like they are doing.
That is your believe. I say they matter, Itâs a bet on the future because I think Bitcoin is the only sound money that was ever created and Iâm willing to trade some paper money that can endlessly be printed for it.
In my opinion, and I know you disagree, itâs like if you could buy a slice of the internet, back in the days where the internet wasnât really useful because apart from my AD&D groups website there wasnât anything interesting to explore and only the people seeing the potential are investing in the technology or building on it, while everyone else is claiming itâs just a toy and only used by criminals.
I may be wrong and lose a few thousand dollars. I did not invest anything I canât afford to lose.
Maybe Iâm right and I will have a nice junk of the global reserve currency.
There arenât many opportunities like that in a lifetime and we have seen that it survived over a decade and now it apparently even gets adopted by countries as legal tender. I have a hard time imagining how obvious it still has to get for all the plebs or even âexpertsâ to see it⌠but well, if they did there wouldnât be any opportunity left, right? 
So much for being out of reach of the government!
A government adopting Bitcoin as their legal tender doesnât put any of them in control. Itâs not possible to control Bitcoin. In fact they give up control, or in the case of El Salvador the foreign control of the US, because they did not have an own currency but used the dollar.
So instead of being at the mercy of some few behind the US money printers that devalue the dollar for everyone else to bolster the pockets of their friends, El Salvador now has a currency that has a monetary policy governed by clear rules that no central authority can change, and that will probably never change.
And the amount of cryptocurrencies doesnt scare you? Its the same with crypto in largely bigger scale what you can see with a dollar for example. Only economy is something more than running your software untill it devours so much energy as a small country.
Printing more cryptos, who really needs that when you already have enough of things more valuable. Only gamblers.
You apparently didnât see that the US Department of Justice made a âlittle withdrawalâ today 
It can literally go to 0. Where it all started.
There will be more people disilusioned with the doomps.
You mean the ransomware hackers they got because they where stupid enough to use Bitcoin to commit a crime? Should have used fiat and the help of banks to launder it like professionals I suppose.
Itâs a legitimate concern and something I obviously thought myself at first when I saw that there are literally thousands of different coins and you can just create one yourself. How is it scarce if everyone can create as many crypto currencies as they like?
But itâs actually not that simple. Itâs not only about the software, itâs properties and the coins, the most important part is the network of individual users running nodes to transact with each other. Because in the end itâs just a ledger where we all note transactions between people of value those people attribute to this coins at that very moment.
But that network creates a network effect, and with every user that joins it gets stronger and more difficult for another network to compete with it.
Itâs a bit like with computer networks. There where many experiments and protocols, but the real breakthrough was TCP/IP which was then used to form what we now know the internet. There where many superior" technologies that came after that, many different network that where better in many regards, but they where not able to replace TCP/IP or the internet. The network effect is incredibly strong. Even upgrades to that protocol have proven to be extremely difficult. Ever heard of IPv6?
Itâs the same way with Bitcoin in my opinion. I could be wrong though. There is also the possibility that we get some kind of internet of different blockchains with bridges between them. But even in that scenario, there will always be only a couple of valuable coins and not an endless amount.
It takes some time to wrap your head around that, but itâs well worth it. At some point you will come in contact with that technology if you want or not.
But can you buy it?
If internet would be not technology but an asset, everyone who would buy a piece of it early, would be super rich, or not? There is more and more internet anyday.
The same is going on with crypto. Why would you buy a token that demostrates a piece of technology? Its like wriitng a book that have only 100 letters âaâ in it, so it actually holds âvalueâ, then selling it as the best book ever. Thousends of such books can be written every day. Thousands of one minute videos on you tube nobody will watch are added regularly.
You need something really substantiial. Bitcoin is not substantial, every crypto is not substantial, its all virtual. You dont have guarantees of any kind, even the guarantyy that physically you will ever could take that bitcoin and use it as toilet paper.
That is the network effect and the whole internet becomes more valuable yes. Obviously it is no currency. But it has a finite amount of IP addresses. If you bought a junk if IPs back in the day and the Internet wasnât regulated by a centralized institution that just take them away from you and redistribute them, you would have made a killing.
I think I just explained that. Never mind, I shouldnât expect everyone to understand it.
So is your stuff in EVE. Yet you attribute value to them.
I attribute it the value of ISK, which is the game money thats useless outside the game. The same is going on to be the case with bitcoin. Before even taking off, it is already failing because people see its flaws.
Do not attribute volatility as something usefull for every day use as currency. I already wrote what its good for, gambling.
The value have to be written on the money, minted or printed, or in the case of digital currency, coded. But it have to be the same currency. Digital dolar or paper or gold coin. The government issued money. Only when you hold control over it, you can have some leverage on economy, and economy with currency have to be managed with some good principles and regulations and law. So nobody will print some scam coins wasting energy and developing gambling habits in people.
All whats going on with cryptos is craziness, and the accountable people can be found. It got too noticable to not be reacted to. So it will have to be dealt with.
For someone who doesnât understand a thing about the technology or this systems you are pretty convinced you figured it all out and know the future
It is volatile because it is still in price discovery mode. Something canât go from $0 value to $10m in a day, especially if it is difficult to undertsand. It takes years to grow. The volatility will decrease as the price reaches the assets true value.
Yeah, 1 Bitcoin = 1 Bitcoin, I agree
I disagree. Monetary policy is not something some elite has to decide but the people, and that is happening with Bitcoin.
Oh Iâm sure they will try to keep their power. But they will fail. Itâs inevitable.
There is no end to the discovery. Dont fool yourself, Its eternal volatility, like gold. Only Gold you can actually use for something in industry, its demanded and necessary in some cases.
Monetary policy is not something some elite has to decide but the people
But they already decided what bitcoin is useful for, and its gambling. It didnt even stand near any policy.
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I am seeing more and more news stories about cyber-extortion, aka ransomware. It seems ominous that these criminals are mostly using cryptocurrencies for payment. That could erode popular support for the entire crypto industry - at least for the unregulated, untraceable ones.
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Define this term youâve used, âtrue valueâ. thnks