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.
Tell me what percent of wallets own over 96% of bitcon? Less than 1%
I figured you'd skip that.
I wouldn't touch crypto with a 10' pole. But that's the difference between you and me. I work with my hands for what I have, you sound like someone who sits at a computer and works. It's hard for someone to appreciate what it actually take for you to sit on your ass all day. So mining gold from the comfort of your chair sounds awesome. Problem is, at the end of the day, someone had to make that chair, shingle your roof, hook up your utilities, literally get shit on their hands so you can do what ever it is you do on the computer. You really think a guy that would do that is going to accept your digital farts, hahahah how out of touch you are. They will laugh in your face. Seriously go get a well drilled with bitcon. You might find some boutique crew that will drive across the country to do it overpriced but largely they want cash for now or something tangible once dollar shits. Good luck, I hope it works out for you.
Have fun with your fiat. Its lost 45% of its value since Bitcoin was released.
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