Sophistry is not an argument
What a kike. There's an ad hominem you can use to bitch about so you can avoid addressing the the actual argument of every benefit you claim bitcon offers is actually a governments wet dream.
I'll explain this in crayon for you:
1) Economic value is inherently subjective. The fact that investors are exchanging USD for BTC proves that they value BTC more highly. I.e. that they believe it to be superior.
2) USD has continually declined in value for centuries. This makes it an inherently depreciating asset that is objectively inferior to any asset which holds or appreciates in value. The only assets which are worse than USD are ones which depreciate faster such as Zimbabwean dollars, week old fish, and last year's calendar.
3) All current governments sustain themselves through inflationary printing of fiat. They use this to continually steal from their citizens.
4) Bitcoin is immune to inflation. Governments can't use the stealthy tax of inflation to rob you. If you have the sense to self-custody, the only way governments can rob you of your bitcoin is through direct violence by posing the threat "your money or your life?" like any common burglar. With prior forms of currency, this threat was credible because they could steal your gold, silver, fiat, etc. It's wholely unimpressive for bitcoin because they can't extract keys from a corpse.
4) Cryptocurrency is the first and sole type of currency which is infinitely portable, decentralized, borderless, and yours to do with as you please. If your country goes to shit, you can't exactly haul a fortune in gold krugerrands or whatnot to someplace less infested with globohomos. You'll be stopped, robbed, etc. With cryptocurrency, you have the option to either have no visible wealth, or surrender a decoy wallet with a token amount in it if pressed.
6) If you hear all that and still think bitcoin is the worst thing ever, by all means never use it. Tell everyone you know how much you hate it. In fact, the more persuasive you are with people who find you credible the better. I don't want economic illiterates like that anywhere near bitcoin. It'd be like taking a bus full of blind kids to the Louvre. They'd just clog up the place and post reviews claiming it was boring because they lack the capacity to appreciate masterworks.
Belief in value doesn't mean value. People thought tulips were valuable too.
Bitcon is also a fiat currency. Just as the dollar is. A medium of exchange.
This is a gripe with the current system, not a benefit of bitcon.
Bitcon is infinitely divisible. It takes just as much effort to spend 1 bitcon as it does to spend 0.000000001 bitcon. Move the decimal and you can inflate it.
What does infinitely portable even mean? Does every scenario in infinity involve a working internet connection in multiple places at once, a working computer and someone to take your usd for the bitcon? Some kind of infinity you got there. You assume there will be someone on the other side to take your shit currency and that someone will want your digits. Your wallet can be stolen as well. I also do not plan on walking around with my lifes savings. Interesting you'd use a cross border run once things go south. Do you have somewhere to go? Chances are you're going to be right here. However, the government does know where your bitcon is everyone can see it. Does the government know where my pm's are? Nope, they have no idea nor could they ever. Bitcon, every cent is tracked.
This isn't a point its a summary.
Congratulations you have the understanding of every other person who uses bitcon.
Tell me what percent of wallets own over 96% of bitcon? Less than 1%
Yea you're fighting the power by buying a digital con created by an unknown shadow figure currently supported by the very people who benefit from the fiat system. Go get em tiger!
Belief in value doesn't mean value. People thought tulips were valuable too.
And they were valuable...until people changed what they valued.
Bitcon is also a fiat currency. Just as the dollar is. A medium of exchange.
"Fiat" is an authoritarian edict or dictate. Fiat currency requires coercive government dictates by definition. Bitcoin cannot be fiat because no authoritarian government is dictating you use it. Use it or dont, it's wholely voluntary.
This is a gripe with the current system, not a benefit of bitcon.
Bitcoin can't experience inflation. Fiat currency can. This isn't merely a tool being misused, it's an irredeemable flaw in all fiat currency.
Bitcon is infinitely divisible. It takes just as much effort to spend 1 bitcon as it does to spend 0.000000001 bitcon. Move the decimal and you can inflate it.
Inflation requires the ability to produce more currency at will. Bitcoin has hardcoded limits. There only ever be 21 million bitcoins. Sure, you can divide it into sats, but that's like using 100 pennies instead of $1 and claiming that's "inflation". You still have the same quantity.
What does infinitely portable even mean?
There are no costs to transport it. It costs as much to carry around 100 bitcoins in your head as 1 sat. Try doing that with gold, pallets of cash, etc and you'll find it exponentially costly and difficult.
Your concerns about some type of network collapse are spurious. The type of catastrophic technological collapse that would take down bitcoin would take down every currency, including gold doubloons (at that point all that will hold value are MREs, ammo, medicine, etc). That'd effectively be a Mad Max barter economy.
This isn't a point its a summary
It's a key point. If you don't see the value of bitcoin, dont use it. More for me, less for you.
(post is archived)