Comment Headline is nonsense (Score 1, Insightful) 223
...unless you're a socialist.
...unless you're a socialist.
"arbitrary reasons" means you don't understand markets.
I'm a fan of gold, too....or used to be (not buying any more now). But I strongly trust the bitcoin tech; it's proven itself over the past 8-9 years IMO. I'm all in.
That is not what I'm alluding to.
I buy bitcoin to get away from inflationary fiat currencies. I buy it because it's a great store of value -- not because of what it's worth in terms of dollars (because who cares) but bitcoin is actually deflationary because the number that will ever exist is hard-capped at 21 million and an estimated 2-3 million are permanently lost.
I don't buy things with bitcoin. I HODL. Bitcoin is my savings.
Way down the road, when the technology is mature, is when I'll start using it as a payment mechanism. IMO anyone who spends his BTC now is shooting himself in the foot.
This is only happening because it's still the very early stages. Once the real money is in, and it's coming, then the price will stabilize. But by then you've priced yourself out of it.
The Great Bitcoin "Bubble"
If you're looking at it as an investment and concerned with whether it goes "up" or "down" in terms of dollars, then you don't understand the point of bitcoin.
Yes, of course. I didnâ(TM)t mean that Linux is hard, only that only smart people use it.
Iâ(TM)ve been running exclusively linux since the 0.98 kernel loaded from a stack of 15+ floppies, and there was no GUI.
My post was jokingly elitist. Iâ(TM)m old. From way, way back when Slashdot was cool.
-Mike
Haha.
The Linux desktop is only for smart people, and there are a limited number of those. Therefore, the Linux desktop will never be popular.
Seriously?
It should be obvious that my statement implicitly excludes current fiat currencies.
However if you look at what caused the destruction of all previous fiat currencies, and the current policies and actions with current fiat currency problems, the same path is being followed. There's little reason to think that "this time it's different".
Of course the stated reason for leaving the gold standard was instability, but it's utter nonsense. $100 in 1812 purchased roughly the same amount of goods in 1912. But then the Fed took over, and a fake gold standard began, which was then completely dropped by Nixon in 1971. Now the dollar has about 4 cents of buying power compared to 100 years ago.
The real reason for abandoning the gold standard, of course, was so that government could fund it's ever-increasing budgets. Inflation is a great way to tax people with out "raising taxes". Simply steal from your money's purchasing power.
BLISS is ignorance.
