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322

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.

(post is archived)

[–] • 2 pts

This is wrong, the max number of bitcoins is hard capped at 21 million, it can't be inflationary because more cannot be mined after that point. It ain't like printing fiat currency, and this is one of its major appeals.

[–] • 0 pt

That assumes there can be only one cryptocurrency. More can always be created.

Edit: And you're assuming the cap is reached before the other factors can factor in.

[–] • 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.

[–] • 1 pt (edited )

The difficulty increases reward decreases as the unmined supply goes down. I think the whole point is that it is a bulwark against inflation.

[–] • 0 pt

How can it do that when it is itself built upon inflation? It very foundation requires inflation. Everything which drives inflation with jew-currency drives inflation with this jew-currency.

[–] • 1 pt

I've been thinking about Bitcoin and how it would be nice if everyone switched to that. Then I realized the current bankster motherfuckers with all of the funny money in the world simply will not allow that to take place. They will destroy the whole, entire internet if they have to. They're not going to give up all the power and control they held for centuries.

P.S. They're the worst kinds of kikes in the world.

[–] • 0 pt

90% Wrong. Bitcoin mining difficulty increases over time and there is a 21 million hard cap. Most worth while cryptos have a hard cap. They do not suffer from inflation the same as fiat. Besides that, inflation is fake as hell.

[–] • 0 pt

Bitcoin mining difficulty increases over time and there is a 21 million hard cap.

Already addressed in the comments. My statement remains 100% factually accurate and correct.

[–] • 0 pt

No it does not. I read the comments...

[–] • 0 pt

It occurred to me you may legitimately not understand one of my points. Bitcoin is like a one dollar bill. Saying inflation doesn't effect that dollar because an infinite number of ten dollar bills can be printed would be laughably wrong. But this is the crux of the 21 million cap. Anyone believing it's immune to inflation is only deceiving themselves.

It's always about total "coinage" in the "realm."

As for difficulty, I addressed that both in the initial comment and in follow ups.

As I stated, everything I've provide remains 100% factually accurate and true.

[–] • 0 pt

Then you fail to understand what you've read or are biased and don't want to see the truth. Everything I've stated remains factually accurate and completely true. Until you reconcile your opinion with the facts, we will continue to disagree. The facts remain the facts. This is true regardless of your opinion of them.