I listened to the Kieth Weiner POTP interview today, and I feel like he didn’t really give that much to support his argument against ₿itcoin, just that it’s volatile, called it a speculative asset, and that people often justify moves in the market after the fact with some made us stuff that sounds right and may or may not be true.

As far as ₿itcoin and gold being speculative assets, monetary goods always trade at a premium to their utility so I would classify them more as a monetary good more than a speculative asset. As Robbie mentioned though, the reason the ₿itcoin maxis hodl ₿itcoin is because they think that it will eventually become the next global reserve currency since it is the best at the 7 properties of money (Durable, Portable, Fungible, Verifiable, Divisible, Scarce, established history, and censorship-resistant).

As far as if it is money now, the three uses of money (store of value, medium of exchange, and unit of account) can be used to gauge that. Right now it’s only really being used as a store of value, and to a very limited degree a medium of exchange, so it is in the monetization process. It would be expected with any new money (or technology) undergoing monetization that its value would fluctuate a lot because of hype and disillusionment, but that it would eventually stabilize. Monetary transitions typically take several decades so it won’t happen right away, but then everything seems to happen faster in modern history so it might happen sooner than we think.

It’s worth noting that there have been scenarios, usually in countries experiencing very high inflation, where multiple forms of money are used for the different roles. Even right now in America, the dollar by itself isn’t used as a store of value for long periods of time since everyone knows it is losing value, people instead turn to stocks, bonds, real estate, gold, etc., it’s why stocks and real estate trade way above their utility or P/E ratios. Because of inflation, everyone is essentially forced to become an investor!

Ok time to come clean Nostriches …..what’s your star sign ✨🤣😜

#zodiacstr

What 4th amendment?

Crime is getting out of hand. Whatcha gonna do in a failing empire?

Really? Not even a beer?

This is just a shitpost anyway…literally a shit-post 🤣

Both

There’s a a family here that has 6-7 fast food hamburger joints in this county and the one next door. Started out as a drive in back in 1940. Still owned by the same family. I always go there when I’m in that mood even if that does up my consumption of their milkshakes. Heck. I can go down to the meat market they buy their beef from and order the exact same stuff if I ask the guy for it.

Even when created with good intentions organisations seem to always eventually shift their efforts towards self-preservation rather than the organisation’s original purpose. The survival of the organisation becomes more important than its original mission.

😏 You use skulls as shotgun targets? 😂