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I will explain:

  1. Bitcoin's perceived value is directly related to the duration it takes to compute cryptographic math.

  2. Bitcoin is an oil currency as it is an indirect measure of energy required to perform "hard" cryptographic related math on a computer. This math uses electricity. That electricity is generally provided by "fossil fuels." Bitcoin is an oil currency.

  3. The measure of "hard" will always decrease over time as computing power increases. Which means it's "value" can only decline over time in direct relation to the cost of energy and the computing power required to perform "hard" math.

  4. Another word for lowering the cost of "hard" as it relates to all cryptocurrency is "inflation."

The value of all cryptocurrencies can only decline over time in proportion to the cost of energy and the technology advancements. Any significant technology can instantly destroy all perceived value of cryptocurriencies overnight. Quantum computing is one such example. Cheap energy is another. Any energy technology which moves people away from "fossil fuels", to a cheap energy, will instantly destroy the value of cryptocurrencies. Even the admission that oil is a renewable resource would significantly trigger inflation on all cryptocurrencies.

I will explain: 1. Bitcoin's perceived value is directly related to the duration it takes to compute cryptographic math. 2. Bitcoin is an oil currency as it is an indirect measure of energy required to perform "hard" cryptographic related math on a computer. This math uses electricity. That electricity is generally provided by "fossil fuels." Bitcoin is an oil currency. 3. The measure of "hard" will always decrease over time as computing power increases. Which means it's "value" can only decline over time in direct relation to the cost of energy and the computing power required to perform "hard" math. 4. Another word for lowering the cost of "hard" as it relates to all cryptocurrency is "inflation." The value of all cryptocurrencies can only decline over time in proportion to the cost of energy and the technology advancements. Any significant technology can instantly destroy all perceived value of cryptocurriencies overnight. Quantum computing is one such example. Cheap energy is another. Any energy technology which moves people away from "fossil fuels", to a cheap energy, will instantly destroy the value of cryptocurrencies. Even the admission that oil is a renewable resource would significantly trigger inflation on all cryptocurrencies.

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[–] • 2 pts

This isn't about other cryptos, it's about bitcoin.

Bitcoin mining difficulty even gets more difficult over time. There's not even a guarantee we'd ever reach the limit given Moore's law.

[–] • 0 pt (edited )

But it is. Scarcity of options is a contributor to the perceived value of Bitcoin. Claiming Bitcoin perceived value and is immune to inflation doesn't hold water when alternatives are available. As this means the total market availability of "coinage" is in fact not finite.

Bitcoin requires inflation. It is not a hedge. Bitcoin is an oil/energy judeo-fiat-currency. It is created by the NSA and records every purchase associated with a wallet. Ultimately providing it's own audit and forensic trail.

We need money, not more judeo-fiat-currency-pyramid schemes which provide even more control and tracking upon people.

[–] • 0 pt

Scarcity of options is a contributor to the perceived value of Bitcoin.

There are unlimited options vs bitcoin, not just in crypto.

Also what is this term "perceived value" you're using now, when just a second ago you were calling it an "oil currency"?

Bitcoin doesn't require inflation. It doesn't "require" anything. Stop making up nonsense rules.

[–] • 0 pt

The USD is the petro-dollar. Bitcoin is the petro-fiat-currency. Both are energy currencies. Neither are money. Both mandate inflation. Except Bitcoin suffers many others flaws beyond the USD.