Posted on 05/20/2021 3:53:55 PM PDT by DUMBGRUNT
Isn’t this guy from a country where a loaf of bread cost a wheelbarrow-full of government currency a while back?
So is the entire platform and practice of the current Democrat party “wishful thinking.”
“But bitcoin is constantly being manufactured. There are an infinite number of bitcoin serial numbers.”
Nope - only 21 Million bitcoins will ever be produced. Even taking Bitcoin to its smallest subdivision, the Satoshi, there will only ever be 2.1 quadrillion of them.
Hi.
The value of Deutsche Bank stock is also based on wishful thinking.
5.56mm
You can wipe your rear end with a dollar bill. Try doing that with a bitcoin...
—” There is also a finite amount of Bitcoins that can be rewarded. “
How does that work with an unlimited number of Cryptocurrencies’?
Gresham’s law, “bad money drives out good”, will kill the lot of them off.
The Turkish bitcoin exchange worked out so well?
Yeah, right. They are computer generated. The computers will stop?
And if there are only 21 million, how do the 330,000,000 people in the US use them?
Good luck
—”the big 20 “
The top 20 cryptocurrencies:
https://www.bitcoinprice.com/list/
Nothing much under any of them, if anything.
The finances of the Deep State Cabal will go to zero. All of them. They will have nothing when all is said and done. This includes cabal cryptos like Bitcoin - zero. It also includes infinite-supply fiats like the US Dollar - Petro-dollar.
Precious metals back currencies will be instantiated and will flourish. Some current cryptos will survive, if not connected to the cabal, and are PM-backed. This includes, AFAIK:
XRP (GOLD) - XFLARE Networks (PLATINUM), DogeCoin, CSC, PAC, GALA
XLM (SILVER) STELLAR Networks - DogeToken, XLPG, XLMG
XDC - (COPPER) - Another to raise big.
ALGORAND - (PALLADIUM)
IOTA - (IRIDIUM)
—”You know it’s bad when even the Chinese have abandoned Bitcoin.”
Last I have heard the Chinese want to implement their very own cryptocurrency.
China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.
The value of bitcoin is based on it having a permanent quantity limit, unlike the US dollar.
The Different Crypto Currencies use different puzzles and technology, they’re based on similar principles but they’re their own systems with their own rules.
For example, Doge Coin doesn’t reward the same way the Bitcoin does. Bitcoin behaves more like a digital asset that can be fractioned off into many pieces, while Dogecoin inflates at a set rate.
They don’t have the same profile.
Bitcoin has been around a long time and has built up a large market cap. Most volume trades of Bitcoin are fractions of Bitcoin now.
—”The two biggest forms of theft are Taxes and Inflation. Hence, Bitcoin”
No disagreement, except there, is no underlying value with bitcoin.
“Smith’s theory of value was very similar to the later utility theories in that Smith proclaimed that a commodity was worth whatever labor it would command in others (value in trade) or whatever labor it would “save” the self (value in use), or both. However, this “value” is subject to supply and demand at a particular time”
No diamond mine with dwarfs laboring to pick out the diamonds? The labor theory of value!
What is the intrinsic value of a crypto coin?
Some computer humming day and night creating heat?
—”Isn’t this guy from a country where a loaf of bread cost a wheelbarrow-full of government currency a while back?”
A fair shot!
And how many wheelbarrows of bitcoins, for a loaf of bread at the same sale?
—” There is also a finite amount of Bitcoins that can be rewarded. “
How does that work with an unlimited number of Cryptocurrencies’?
Gresham’s law, “bad money drives out good”, will kill the lot of them off.
The Turkish bitcoin exchange worked out so well?
—”The value of Deutsche Bank stock is also based on wishful thinking.”
Kind of sort of, yes.
But somewhere, there are some physical assets of value.
What is the intrinsic value of a bitcoin?
In case you hadn’t noticed, the printing presses are running and the US dollar is headed for Weimar/Venezuela/Zimbabwe territory.
19 million bitcoins have been mined. Only 2 million are left. There can never be any more.
There can be, and will be, an infinite number of US dollars.
The only thing backing the US dollar is the full-faith-and-credit of the unsustainably corrupt US government.
—”You can wipe your rear end with a dollar bill. Try doing that with a bitcoin...”
Nicely stated.
Um... does he understand the concept of “value” and that that the “value” of things that are not necessities are always wishful thinking?!
Does he think gold has value because it has some necessary purpose to life?!
This explains why so many banks are failing - their leaders don’t even understand basic economics.
“5.56 mm”
Y’see... lead had more inherent value than gold because it’s USEFUL.
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