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Interesting video on money, quite a different take than I hear from bitcoiners: https://www.youtube.com/watch?v=X-D5FERQzU4

My summary of the video: There were never any barter economies. Money predates writing (the oldest writing cuniform on clay tablets were accounting records). Money is always tightly tied up with state power, primarily because states can enforce payment for debts owned which originated from people accidently harming other people.. the governmental power steps in and says "A owes B X amount of state-approved money to make this right." Thus, the value of a currency without intrinsic value is imparted to it by the power of the state that controls that money. Taxes just tie it even tighter to the governmental power. Every central power (state) has it's own money, with few exceptions (e.g. the Euro experiment, which is failing).

Dissident Sound 6mo ago

this is your second most based post after calling to legalize child porn possession ( to prevent Israel from blackmailing US politicians into Genociding Gaza )

i don't believe i ever said you are incapable of thinking for yourself ( if i did say it in a moment of anger, i apologize ). in any case what i really meant to say is that you didn't have enough perspective on nutrition to make sense out of it and thus you fell victim to establishment lies in that area of knowledge.

as for money, it being historically tied to state is not necessarily a reason to oppose bitcoin - if anything it is a reason to support bitcoin as the only thing that can free us from the state.

but i still don't believe in bitcoin AS INVESTMENT because there is simply nothing unique about it. Gold is 100% unique. In most applications it can only be replaced by Platinum which is even more expensive. But Bitcoin can be replaced by any other crypto.

that doesn't mean BTC won't keep going up, but it will only do so because people are stupid not because it has inherent value ( it doesn't ).

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Discussion

BTCbeeRancher 6mo ago

Wow, your ignorance of bitcoin is glaring! Explain how you think bitcoin can be replaced by another crypto... Much less any other (existing) crypto. Try spending another thousand or two hours, deep diving on bitcoin...

As far as inherent value goes, do you even get the concept of absolute scarcity? You appear to be trapped stuck in a legacy mindset. Try starting off by reading The Bitcoin Standard. 😊

Prince Aleph 6mo ago

Yeah the only thing setting BTC apart was it became a cult like Apple or Tesla - but as we've seen, those are vulnerable to deflating for a number of reasons. Tesla's had a hard run and Apple may run into hard times as well with the trade war and tariffs if they can't get long-term exemptions. They've already been investigated by Congress for using schemes to avoid paying tax in the USA. And BTC has competitors like Tesla has so it's not invulnerable anymore. For right now, I think it still has a few pump and dump cycles left but it may not be forever.