Subnostr

Okay let me put it other way - do you think art is scam ?

Diamonds are like art - the beauty lies in the eyes of beholder .. no one ever forced anyone to buy diamonds .. and as far as promotion and marketing is concerned - bitcoin is no different - except we call it "education"

Btw - i am NOT against #bitcoin .. my beef is with people who think bitcoin can only be promoted by downgrading other assets .. diamonds , stocks , arts or gold ..

The truth is bitcoin is creating its own wealth - it doesnt need to eat anything else's capitalization .. It is NOT a zero sum game as people like Saif and Saylor put it ...

Corbin 1y ago

And bitcoin will and is taking value out of assets.

Because money is broke people are forced to use relatively desirable and scarce goods as a store of value , an investment hedge on inflation. Things like houses art and businesses/stocks etc.

Prices fall naturally to the marginal cost of production. Technology and human advancements in general cause deflation. Things become cheaper over time as society advances.

Bitcoin offers inviolable property rights to everyone Earth, something much needed for most of the world

Bitcoin is the best store of value and everything else will return to its functional utility price as people move there wealth to the best store of value, #bitcoin

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Discussion

Satosha 1y ago

Prices of other assets will never fall because Govs will always need to step in .. point in case property market in China ..

Bitcoin price will keep on increasing because of above printer .. and a part of it will go to gold .. but btc will be disproportionately high ..

Corbin 1y ago

Yep governments always have, always will. That's a big reason why bitcoin will take all the value. Fiat money will always inflate. Bitcoin obsoletes fiat money.

#Bitcoin is taking money (value) outside government control. If I pay in bitcoin or receive bitcoin in exchange for goods or work, that money is not alterable or corruptible by the government. Government cannot take value out of the bitcoin.

Governments will always inflate fiat currency. They will always debase people savings in fiat to the benefit of the government and those most connected to the government.

That's a big reason why #bitcoin is revolutionary.

For the first time people can use money and store value outside government's ability to steal their savings through printing money or taking their private property.

And it's borderless so people can move freely without physical encumbrances, whether dealing with banks / regulators or moving valuables over borders and through unsafe lands.