Posted on 11/08/2021 1:56:39 PM PST by aMorePerfectUnion
The largest cryptocurrency in the world, Bitcoin, is currently the 6th largest asset in the world by market value! According to assetdash.com, BTC’s market cap has surpassed that of Facebook and Tesla. A tweet by @WatcherGuru confirms this.
At the time of writing, the top digital coin has a market cap of $1.234 trillion higher than Tesla’s $1.228 trillion. The Facebook company, which recently rebranded to Meta, has a market cap of $973.49 billion.
The top 5 assets globally are Amazon, Apple, Microsoft, Saudi Aramco, and Google’s parent company Alphabet. According to assetdash.com, the world’s top asset is Microsoft, whose market cap is $2.524 trillion.
That is a lot of tulips.
Tulip mania reached its peak during the winter of 1636–37, when some bulb contracts were reportedly changing hands ten times in a day. No deliveries were ever made to fulfill any of these contracts, because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.
https://en.wikipedia.org/wiki/Tulip_mania
nice work on growing the list...that’s a positive trend :)
“But for transferring value across distance, Bitcoin is vastly superior to dollars.”
Until governments intervene.
... and they will, like always.
They would have to shut down the entire internet.
Your arguments are “old”. The world is changing.
The government can only “intervene” at the exchanges like Coinbase. Do crypto the right way....no exchanges...never tie your crypto transactions to your personal information. Use a new clean crypto wallet and never reuse an address. For even stronger anonymity use things like Bisq, Wasabi Wallet (”Mixing/coin join”), Monero or Zcash.
It's worth what people will pay. Just like anything else.
You're problem isn't really not knowing how Bitcoin price discovery works, it's not knowing why Bitcoin is worth anything at all. You have to start there.
Bwahahaha! Your ignorance and simpleton brain has a Gomer understanding of accounting, assets, and crypto.
-—> It is a digital asset… recognized worldwide, including by massive insurance companies, treasury holdings of publicly traded companies, investment firms, hedge funds, individuals, and on and on.
LOL! Then you are clueless what cryptocurrency is or what an asset is. Crypto is a transmission vessel for fiat, a unit of account or unit of measure used on a ledger. A unit of measure has no asset value... its an accounting unit, or alias used in measuring the quantity (volume) of an asset, not its value. The value is derived from its underlying asset, and that would be un-based fiat. Can’t even call fiat an asset. But maybe you’ll understand as you get some education below.
On a crypto exchange you see a list of names, of which are in-fact accounting units(aka: crypto names). These names are listed under conversion tables, or pairs, that give you a current trade value between paired names and the reserve asset value in ‘Dollar’(s) which is US fiat.
The unit measure ‘Dollar’ is used the same way the Federal Reserve ‘printed’ Dollar is used... as a unit of measure(a unit of account). The Fed dollar was once based(tied) to the US code fixed gold/silver accounting unit which was also the ‘Dollar.’ The Federal Reserve ‘printed dollar’ had an exchange value pegged to gold at $18.51/troy ounce in the 1800’s and equal to the same account unit, the ‘Dollar’, that the US code used to measure an ounce of gold/silver grain weights.
In 1934 gold starting at $19.75 per troy ounce, then raised to $20.67 in 1834, and $35 in 1934. In 1972, the price was raised to $38 and then to $42.22 in 1973.
So, did the US code accounting unit ‘dollar’ change in value?? NO! The US code accounting unit (dollar) remained the same in use as its accounting measure. Only the Federal reserve ‘Dollar’ unit accounting changed against the exchange rate for gold/silver.
The reason government began debasing the 1:1 exchange value for US gold/silver dollars was to erase foreign debt by paying it off in cheaper Federal Reserve Paper dollars and not drain the gold/silver reserves of the US Treasury. This in turned made the illusion that gold increased in value... when in fact it was the Federal Reserve notes that decreased in value over night by raising the exchange rate under US code for a gold/silver US dollar which required more Fed ‘paper dollars’ to buy the same gold/silver dollar coin.
LOL! The FED and our corrupt government was doing this devaluation of Fed paper for decades! To 100% debase Fed fiat paper from banking fractal reserve requirements so the Fed can print paper dollars as long as there were trees to make the paper from! Fed paper is in-fact Tulip-paper, backed up by the good faith and promise of government. Believe it has value and you use it. Print too much of it and it becomes worthless.
Are you getting this... stupid?!
Eventually Federal Reserve printed paper dollars were debased 100% from being pegged to the US gold/silver dollar. The grain weights of gold and silver per/ounce hadn’t changed in the US code. A dollar in US silver dollar or gold dollar remained a ‘Dollar’... Only the Federal Reserve ‘FIAT’ accounting units(their Dollars) changed in their conversion value.
Again... the Federal Reserve(FIAT) paper uses the same ‘Dollar’ units for accounting of its worthless FIAT paper... as does the US CODE uses the ‘Dollar’ as its unit of accounting to measure US Treasury coined gold/silver ASSETS pursuant to US Code laws that regulate the coinage of US constitutional money... not Federal Reserve paper monopoly money and Fed minted zinc/nickle tokens that pose as constitutional money.
So think about it genius... does a currently minted one ounce ‘Silver Eagle Dollar’ or a 1 ounce gold ‘American Eagle’ coin have a exchangeable 1:1 value for a paper Federal Reserve ‘Dollar’ note today??? LOL! Are you that stupid?!
The Federal Reserve uses the same accounting unit ‘dollar’ in the same manner a Silver Eagle or a gold American Eagle does... AS A UNIT OF MEASURE! The Federal Reserve prints its worthless paper in units of dollars using cheap ink... the US Mint stamps out Gold and Silver eagles in dollars in raised letters on its face. A gallon of water or a gallon of gas... A Federal Reserve Dollar or a Silver Eagle dollar? So why are they not the same in value?!
Because you measure them in accounting units that can be pegged to ANYTHING you want... air, apples or piss.
Crypto is a UNIT OF MEASURE and is not an asset! Crypto is valued by what ‘NAME’ it calls itself as a unit of measure, of which that unit-of-measure is pegged to fiat.
Lets run it by your thick skull again...
The ability to measure the value of an asset is done by giving it an accounting unit and tracking it on a ledger or book. The accounting unit is a MEASURE... crypto is a MEASURE of the underlying asset... fiat! The unit of measure itself is not an asset, but a container in which to determine the exchange value for the asset it holds. Crypto simply is a multiplier used to determine what exchange value it holds as an accounting unit against a single fiat dollar of 1:1. So if crypto unit measure of ‘XYZ’ has a current book value of 2, then its exchange value on the books or exchange ledger... is 2-fiat dollars.
Exchange traded crypto does not use ‘dollar’ accounting units... it uses its own ‘NAME’ as its accounting units You see a whole list of crypto accounting units to pick from. 1-XYZ crypto is equivalent in saying 1-Dollar Federal reserve note. But the only difference between a ‘ crypto ‘XYZ’ note if it were printed, compared to a Federal Reserve printed note is...
Instead of seeing a printed (1) “Dollar’ like a federal reserve note has on a dollar note... The crypto note would read (1) ‘DOGE’ or (1) ‘Ethereum’ or (1) XYZ. And instead of what’s printed across the top of Federal Reserve paper which reads (Federal Reserve Note) ... the crypto note would probably read (Crypto Reserve Bank) and have an exchange seal on it pegging it to which exchange has custody of it.
Do you get it now dufus?
Lets continue...
So the bookie, or ‘market maker’ on an exchange sets the bid/ask price for the fiat exchange value of each crypto accounting unit. How do you think these crypto exchanges works? It’s all Tulip-trade speculation game... a first-in/first-out game called Ponzi.
The accounting unit(the crypto), is traded as if it were an asset on an exchange. But in reality you are trading fiat receipts. And those receipts are tied to a crypto name(a TULIP unit measure) that exists for accounting to keep track of how much fiat is outstanding that was traded(gambled) on. You but ‘crypto’, you are gambling on a digital simulation ... a container that holds an infinite digital volume that gets filled or drained by pouring fiat into it, or dumping it out.
The Great American Crypto Tulip trade game will go on the same as the Federal Reserve Tuilip trade game goes on... as long as fiat flows into the crypto ledgers and back to the fiat ledgers. Perception keeps it alive with value... but in the end there are no physical commodity or manufacturing/consumption fundamentals... only fantasy fundamentals of belief and air..
—> If you mean people in every country price assets in units of their currency, yes.
Very good. No argument there.
—> I think you mean *you* recognize none of crypto’s fundamentals as valuable to you. OK.
LOL! ... No, YOU don’t have a clue or understanding of crypto and its ZERO fundamentals as being invented data-code on a hard drive. Yeah... that’s real fundamental value. Okay.
—> There you went off the rails, losing the argument as surely as if you called them Hitler. After that you began spitting on the screen and knocking things over as you waived your arms.
I lost no argument. You are empty headed full of talking points, ignorance and pretentious drivel. And your blathering lacks substance, critical thinking and fundamental understanding.
You went off the rails from the first sentence you wrote. After that, you spit and drooled on your keyboard believing that you were an oracle of the subject matter. Instead you are clueless. But that didn’t stop you from pounding your chest and giving yourself a high-five believing you finished a doctorate quality thesis as a response that rates no better than the mental acuity of a 6 year old using bi crayons.
Mark twain said it best... “It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.”
Go back to school, clown. You have NO idea what you are talking about.
Have a nice day.
Here’s the advantage of bitcoin... when ‘good money’ drives out bad - bitcoin will destroy men like George Soros.
It’ll take away incentives to ‘short’ countries using chaos crime, and currency manipulation. Which is what white liberal ‘elites’ are doing to our country now...
I just like how animated you get - puffed up, arrogant, veering off into ad hominem attacks.
How you flail your arms and spit at the screen.
And how you use most of the world’s supply of exclamation points.
It really is a wonder.
I’m going to rate your crazy diatribe an 8.6 out of a possible 10.
Next time, for a higher score, add even more intensity and use colored markers on your screen.
I am left with pity for your wife or kids or dog - or any neighbor.
Please keep spending time on the crypto threads. You add interest.
To all you tulip trolls, this is 2021, not 2011...
If you have passbook savings, mattress savings, CD’s T-bills, bonds, or precious metals, you are getting raped by government funny money. If you are into stock index funds or real estate, you are only keeping up (try dividing the rise of the S&P 500 or real estate vs the rise in the fed balance sheet, and you will see how flat these investments are). The only investments that have consistently exceeded inflation are FAANG stocks and crypto.
I don't buy on feelings. If that's your investment bellwether, definitely stay away from cryptocurrencies. They'll hurt your feelings.
I guess my question would be, so?
I expect crypto will (and already is) making the financial eggheads of the world slowly irrelevant, and a lot of them aren't taking it well. Hence the cut and paste high school economics textbook definitions and exclamation points.
I’m not a psychologist, but I think you’re correct.
After getting the full Monty from him, I wish he’d just close the kimono
I’m not a psychologist, but I think you’re correct.
After getting the full Monty from him, I wish he’d just close the kimono
D@mn straight I am sticking with something stable like Amway.
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