Replying to Avatar Hu₿ertus the Austrian

This is unbearable, sorry. Let’s criticise fiat money but also make sense:

It is simply inaccurate that people have “never been able” to store “money in money”.

1. Gold used to be money. Great SoV, for millennia.

2. People also invest in land, equities. Both store value.

3. Bitcoin is down severely vs. gold. Has been for 4 years.

Nothing changes. Economic laws are what they are.
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Lostdog 2mo ago 💬 1

Fair point about gold being a SoV, but Bitcoin down against gold? What chart are you cherry picking from? 🍒

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Hu₿ertus the Austrian 2mo ago 💬 1

Not a cherry picking. You need to look at the price of it gold coins - Not the money illusion of fiat money.

Bitcoin cost 38 to 39 gold coins in 2021 when El Salvador announced legal tender.

Now it exchanges only into 30 gold coins. Too little progress with monetisation.

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Lostdog 2mo ago 💬 1

Lol, it appears you indeed tried to cherry pick a very specific date, but also that you're reading a chart upside down 😉

Gold has become significantly cheaper per ounce when measured in Bitcoin since June 2021 (0.052 BTC then vs 0.033 BTC now)

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Hu₿ertus the Austrian 2mo ago 💬 1

Try to be rational.

The goal is to find out what the REAL, the fundamental value of bitcoin may be.

Study up on tatonnement and then look again at a long term chart. Consider the fundamental news at the time of peaks. Consider past maxima which tested the top.

Expressed in a real money like gold not in useless fiat, of course.