Crypto has value just as any other medium for exchange. If it didn't have value it wouldn't be over 50k a coin.
Crypto has "value" in that it can be converted into another fiat currency that the world accepts as valid and valuable. Without a fiat currency to convert it into, crypto is worthless. The measure of "50K" per coin shows this flaw. You can't describe the worth of crypto without describing it in some other currency. crypto is also worthless without the internet.
Jews control fiat through central banks and currency manipulation. Jews can't control bitcoin because it's programmatically defined, open source, distributed, and requires global consensus to change (manipulate).
I can store it in my head and the government can't just come take it. Let's say you have gold that, at the current exchange rate, could be sold for $5M USD. Better hope nobody knows you have that in your basement... Being invaded and need to flee? Hope you don't get robbed on your journey. Want to send it to your friend on the other side of the world? How you gonna do that... I sure as shit hope you don't just have an email stating, "thanks for your purchase, you now have 10 gold bars" - good luck with that if the world gets wonky.
Literally everything of value depends on someone else desiring it and being willing to give you something you deem valuable in exchange. Saying bitcoin is only valuable because others are willing to give you USD for it is fucking retarded. Yeah, you're right, and nobody disagrees, but you didn't win any arguments by stating the obvious. And this applies to USD also, and when (((somebody))) eventually kills USD it will be worthless too, and the world will move on. Shit, they're 99% of the way there... Look at the value of USD over time...
Bitcoin is dependent on the internet, and, more importantly, miners and the network. Just like USD is dependent on the US government and the US army. Currently, I have more faith in the internet and the bitcoin network. I'm trading what I have of value for BTC. If you think USD, or whatever else, is better, then you're welcome. I'm not competing with you for it, so it's cheaper for you.
Every store of value has pros and cons. I've done my research and decided bitcoin is one of the places where I want to store my value. If you prefer somewhere else, good for you. But you're argument that bitcoin=bad does not have a solid foundation
100%. It is digital gold that can be more easily exchanged.
When electricity finally gets removed how will your bitcoin be valuable? It's value is literally based on the electrical grid.
Explain to me how it is worthless when I'm using tiny portions of my crypto to stack silver. No conversion to USD required.
You also can't describe the value of gold, silver, euros, or any other medium of trade without comparing it to something else. That's how trading works dumbass. We could say 1 btc is worth 6 million loaves of bread, but that's retarded.
Thats a lot of bread ovens..
you buy things with your shitcoin because you have found a greater fool to sell it to.
Dude, you're wrong. You can purchase all manner of things using Crypto directly. No Jew Fiat involved.
yet virtually all shitcoin buyers are holdelers trying to get rich quick. the fees on bitcoin are too high to justify buying a cup of coffee with it. and whatever special properties of one shitcoin can be copied by another shitcoin the next day and be improved upon. shitcoin doesnt have to be fiat to be inherently worthless. there is no intrensic value. gold and silver have never been worthless or lost their value in 10000 years.
No you stupid faggot it's a means of exchange. People bought off the SR exclusively with btc for years. People purchase with it now with no fiat involved. People store value in it. Just because you don't see value in it does not mean it doesn't exist.
I could express value in many ways. Vs the dollar is the standard. God damn you are fucking stupid. Seriously just go read a fucking book. God damn only a stupid bastard could think something purchased for 50k "has no value". What a fucking retard.
You conveniently ignored the "no internet" part.
You got really offended here. Why is that? Who are you trying to convince here, me or yourself?
name one single way your special shitcoin has intrinsic, inherent value? ill wait.
what inherent value does your brand of shitcoin have?
This is easily disproven by people buying goods and services with btc. People buy cars, houses, and groceries with btc. People store value in btc. These things are easy to observe. They happen with no conversion. People use it as a means of exchange. That has value. Like it or not. And it's not a theory. Happens every second.
Value is subjective. The question isn’t if something has value, because even the rapidly depreciating slips of paper issued by the US treasury have “value” since they’re backed up by the boot heel of a US soldier against your neck, also known as “legal tender laws.” The question is, does it have an “intrinsic” value?
Items issued by fiat, mere act of will, lack desirability as anything other than a medium of exchange. Twenty years ago, a $100 gift card for the now-defunct electronics retailer CompUSA had value as backed by the store as a medium of exchange. Today, that piece of plastic has value only as a collectible, and for a sliver of the original amount. Absent institutional backing, an issuance of fiat loses all value and has nothing intrinsic. The same would happen to the Dollar if the US government disappeared or declared total insolvency tomorrow.
By contrast, items of intrinsic value, such as ammunition, land, water, precious metals, books, food or any number of other items, have the advantage of usefulness as something other than a medium of exchange. They’re desirable and capable of being used as a medium of barter and even put to use themselves for consumption or even as a raw capital material for production of other goods. These values are individualized and subject to the whims and fancies of those interacting with them, but at their heart, their values in exchange correlate to their usefulness as a jumping off point.
One need only look at historical prison camps to assess what is of intrinsic value versus fiat. Prison camps would sometimes issue their own currencies for labor performed, but because that currency could be issued at will, as a tool of control over the economy and therefore the prisoners within the camps, the prison currency could and often did rapidly “deflate” in value, causing the value of other goods exchanged within the camps to “inflate” by way of contrast. Frequently, rather than the prison money, an alternate black market currency would rise to first compete with and ultimately supplant the prison issued money. This would typically take the form of either cigarettes or other small, easily divisible consumables like candies or even small food items with longer shelf lives like canned or dried goods.
The BitCoin problem is, absent electricity, internet, or some institution to declare its value, what can a BitCoin be used for that is any different from a gift card after a store goes out of business or dollar bill after a nation collapses financially? I’m not asking to be glib or condescending; I’m genuinely curious what intrinsic value a BitCoin or other cryptocurrencies might have.
Your example about why the gift card stopped having value was that a specific institution stopped backing it. Your example about why prison script lost value was the supply was increased causing inflation.
Both these things are why Bitcoin works. Bitcoin doesn't require any institution to back it, it's backed by the population. The supply also cannot be increased.
I regularly use it for international transactions, it is much faster and easier than transacting in fiat.
Investment aside, I'd switch today to all crypto currency for my transactions and dump the banks entirely. We are seeing the final barriers to adoption come down, and we will see large numbers of people begin to be happy to get paid in crypto instead of fiat.
I'm not arguing which is better for mankind, in just stating this is what is happening. The people who don't see this shift happening will be the ones who thought the internet was a fad.
In a future state the line between stock, cryptocurrency/tokens, and money will blur and stop being clear. It will all be liquid and you will be able to buy a cheeseburger with a fraction of your Tesla stock.
That still doesn’t answer my question about its inherent value and what happens when the power is shut off or the internet isn’t available. Those are both forms of “institutional backing.”
Can you carry a Bitcoin in your pocket? Can you hand it to somebody independent of a digital wallet and computerized device? Further institutional backing that is required to make it work.
I can walk over to my neighbor’s house during a power or internet outage and offer him a basket of apples in exchange for a few jugs of water. In a far flung rural area with no internet, I can exchange a box of ammo for a car part. These exchanges aren’t reliant upon an institutional infrastructure being in place because the items exchanged are autonomous and exhibit value.
Crypto has none of the hallmarks of legitimate currency, and may even be less so than government issued fiat at present due simply to the fact that US dollars are still capable of translation to physical bills. It’s extremely volatile, isn’t autonomous, requires verification by a third party when transactions occur, and has limited portability. If or when the US dollar goes fully digital, it will feature the same problems. I’ve yet to have the “intrinsic value” of Crypto explained, so that may or may not eventually be satisfied.
What crypto is, is another form of investment like stocks and bonds. It can go up and down rapidly, it requires a broker for trading, it will soon have capital gains taxes assessed and reported to the IRS by the brokerage firms, and can make or lose you a lot of money as you buy and sell shares. It isn’t a “bad” investment or a “good” investment because I can’t predict the future and don’t give financial advice.
Buy it, hold it, sell it, make your transactions with it, use it as a short term hedge against inflation, print pictures of it and frame them on your wall, but understand that its entire value could be decimated by one well-organized attack by a government with limitless fiat printing power. For the long term, I would suggest canned goods, water, boxes of ammo, or physical precious metals if you want something with genuine stability and more universal, decentralized value.
Both these things are why Bitcoin works. Bitcoin doesn't require any institution to back it, it's backed by the population.
Agreed, that's one of its biggest strengths, no counter-party risk. But that's its downside as well, its value is entirely determined by people choosing it as their crypto, as opposed to one of the hundreds of other cryptos. That is, its value is mostly historical rather than inherent. This is fine for shorter-term use but long-term its value is unreliable.
"If it didnt have value it wouldnt be over 50k per coin"
not how that works. at all.
That’s exactly how it works. Things only have value when there is a consensus. Gold is more valuable than helium despite them both being rare and difficult to mine because gold can be more easily exchanged. Coco brands used to be currency until people realized that they could get more and crashed the system. Bitcoin is accepted by enough people now (and the number continues to grow) that it does have value, and based in the rules of the system, it will cannot be mined indefinitely; there is a finite amount. That is why it’s more stable long term than usd. And, in our current world, why it is easier to move and cover than actual metals.
No, it really is. People don't spend 50k on something of no value. Maybe a fluke but we are talking entire markets here. People trade on crypto markets because there is value dip shit.
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