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Posted on 06/28/2026 8:39:06 AM PDT by zeestephen
"People don't use it to make serious trades, they don't use it to buy their dinner and pay at the supermarket...What it does is allows crooks to move money around..."
(Excerpt) Read more at cnbc.com ...
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"Bitcoin has become notorious over the years for its dramatic bear market crashes, which has taken it down at least 70% from its peak in every cycle. It is currently sitting about 52% off of its October peak, hovering below $60,000..."
I don’t get it...you can’t hold it in your hand it ain’t real. Yeah, fiat dollars aren’t worth anything either, but at least there are nice printed pictures and numbers on the paper—so we at least have that...
You can’t pay your taxes with it.
It is not “money”.
Bitcoin and all of the e-coins are just a speculative scam. How people could have been conned into investing in electrons just blows my mind.
But what about all those algorithms. They’re not going to lose their value are they?
Maybe they can be used for some other purpose?
wonder how Trumps bit coin is doing...I think it was DJT...just askn for a FRiend.
The dollar will dwindle away with a whimper. It is not scarce, cannot be censored, counterfeited, and controlled by totalitarian governments. The reason people don’t spend their bitcoin is because people spend the less valuable currency while holding onto the more valuable currency. Once fiat has died out bitcoin will have a stable value as the default currency and come into use.
Sorry, meant to say the dollar CAN be censored and counterfeited and (is) controlled.
Trump Media Stock Hits All-Time Low—Down Almost 50% In 2026
Trump Media Moves To Sell Bitcoin As Losses Reach $455 Million
May 22, 2026 · Trump Media & Technology Group (NASDAQ: $DJT) has moved to sell 2,650 Bitcoin (CRYPTO: $BTC) worth $205 million as losses on its cryptocurrency holdings reach $455 million U.S.
Spokeshave who is loading up on SILVER
I may by 84 and suffering from Cancer...but I didn’t just fall off the turnip cart.
> What it does is allows crooks to move money around...
This is why I’ll never say it’s worthless.
“Yeah, fiat dollars aren’t worth anything either”
except that you can pay your taxes with it, pay all of your utility bills with it, buy medical care and medicines with it, buy a house with it, buy a car with it, buy groceries with it, and buy pretty much everything else with it for that matter ... but yeah, other than that, dollars are completely worthless ...
The fact you don’t have to hold it in your hand is why you can ‘carry’ it across borders, and why the government can’t seize it from your person.
Yeah, fiat dollars aren’t worth anything either, but at least there are nice printed pictures and numbers on the paper—so we at least have that...
Here’s the critical distinction. The bitcoin pool is limited. Only 21 million ‘serial numbers’ to be created. Once you understand the government will run deficits forever, thereby expanding the dollar pool forever, you’ll see why bitcoin will appreciate in relative terms as a store of purchasing power.
The government can print more dollars to buy whatever it wants. It can’t create more bitcoin. It can’t counterfeit bitcoin and thereby steal its purchasing power.
Gresham’s Law. Many don’t realize that bitcoin is demonstrating it perfectly.
Once fiat has died out bitcoin will have a stable value as the default currency and come into use.
Fiat won’t ’die out’. Governments won’t get rid of legal tender and they’ll ensure they can get money to spend. Their legal tender will just inevitably continue to lose value over time to hard money like bitcoin.
Important to observe that bitcoin is a cryptocurrency, but not all cryptocurrencies are bitcoin. Bitcoin is founded on faith in math, instead of political trust. So long as you’re confident that governments the world over will continue to debase their respective currencies bitcoin offers an alternative medium to store value that governments cannot control. e.g. Canada can’t stop you from sending or receiving bitcoin at an address.
My “store of value” is fractional ownership of productive profit making businesses. Millions of people go to work every day to make me more money. Those businesses are in the business of managing through currency issues, business cycles, technology advancement and geopolitical risk.
I’m invested in a storehouse of value: productive humanity.
If humans suddenly are massively less productive, I have rich soil and stocks of lead.
It is not “money”.
That’s not actually a requisite feature for something to serve as money. The properties of money are scarcity (without scarcity you can’t generate relative exchanges), transferable, divisible and recombinable without loss of property (half a cow is a harder transaction than halving an oz of gold, never mind trying to combine three cows halves), durability (you don’t want to end up with rotting cow half).
Bitcoin satisfies all those criteria, and does some in ways superior to alternatives (e.g. storage costs and considerations for $1 billion worth of gold or the same in bitcoin).
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