Replying to ringo

that was interesting and here is my main thought about it:

the thing is, as best as i currently understand, bitcoin only goes up for two reasons:

people buy more of it, or, there's an increased demand for it.

but my main problems with this, are as follows

- cbdc is emminent, and when that occurs it will change a lot. stay with me a sec.

- when people globally "hypothetically" want to use bitcoin, but cant get any, how does that help any of them? are we hypothesizing that the entire world, is just going to use whatever liuidity is in the lightning network. and adjust the price of everything, based on an ever changing metric of how many scraps are in the digital bucket?

-are we to assume that bitcoin will only be valuable because if the holders of it are the only ones who can get it, in a post cbdc economy, this somehow makes the people holding it more useful, or more valuable somehow?

-on the last point, i would argue that it doesn't make those people more useful, primarily because human nature is such that people are greedy, and only self serving, MOSTLY and by most i mean about 90% of the global population. so you have people who cannot afford to buy food, because they are having cbdc, and their money got turned off, expired, or they went outside of their 15 minute city, or they lost too many social credit points , or what have you. and they need bitcoin to buy food and pay rent? how is this fair or even possibly imaginable, in anyones wildest dreams? it simply wouldn't take. they'd be rioting in the streets, for bitcoin to increase the market cap, so they could have a chance at having some money. even with all the halving, which just eventually brings it mathematically close to error divide by zero, there still wouldn't be enough to satisfy global liquidity needs, based on how people currently live.

where i'm going with this, is while bitcoin is a nice idea, and has a lot of cool things about it, i dont think in my wildest dreams as its presently configured, that it would *ever* satisfy the requirements for a global currency.

not today, not tomorrow, not next year. simply put, never.

and i do realize most of the things i mentioned above are largely left -out- of all the popular hype and books and stuff, unless i've missed these details.

thoughts welcome.
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no₿ody™ 🧱 2y ago

It seems like your thoughts pretty much all spin off of assumptions about governments and their CBDC’s that i don’t share, so it doesn’t make sense or feel worth it to get into detail about all that. However, I greatly appreciate you not only taking the time to read that bullshit but also writing out such a long and clearly genuine response.

I do respect where you’re coming from and perhaps you’re right, but for the way I see the world, it always comes back to extreme bullishness for Bitcoin and its adoption amidst the increasingly apparent scam called Fiat

In other words, respectfully, am satisfied with the ending i went with on this one.

Good news is even though at least one of us must be wrong, we’re acting as we see fit given the information we’ve processed. I’ll do my best to keep an open mind for achilles heels in my perspective and hope that you do too.

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ringo 2y ago

:)

You're kindly welcome. I relish an intelligent conversation. Most people cannot be bothered.

It will be interesting to see what comes of all this stuff, and no disrespect taken or implied untowards myself, by anything you said. Not to worry.

I don't know what's going to happen, and yes also keep an open mind. Just presenting some probabalistic counter points, and certainly not looking to argue. :-)

Cheers.