And you once again deflect from the deflation problem, ironically mentioning "reality" while failing to realize that, aside from fun little novelties, bitcoin has precisely ZERO use in the real world before converting it into dollars or whatever other currency that real people use.
Every time someone dies and their key is lost, or they send money to the wrong address, or they permanently lock out their hardware key because they tried the wrong password too many times, that bitcoin is PERMANENTLY DESTROYED, making the rest of it even more scarce. It deflates over time.
Anyone who decides to "adopt bitcoin" is already at a massive disadvantage, as the people who got bitcoin a decade ago have disproportionate control over the economy without actually producing anything in said economy.
Sounds familiar, doesn't it? Bitcoiners just want to be the new banking class who speculate and do nothing of real value while holding sway over everyone else. You call it "freedom" and hold massive amounts of bitcoins while encouraging others to join, who can only get tiny amounts--you effectively have control over them financially and can out-compete them in buying power simply by being in the system first and not by actually producing more.
I will try it nostr:npub16h43mvfanfmsvkg86vgqwr4h268l23t6034wulepd0m4j3dky9ssraxymy
1️⃣ Scarcity as a Value Driver: Bitcoin is often considered deflationary because there's a limited supply of 21 million coins. This fixed supply, unlike the constantly growing money supply in traditional currencies, can lead to an increase in value as demand grows.
2️⃣ No Inflation: In a system where the money supply is constantly increasing (as with many fiat currencies), the currency loses purchasing power over time. With Bitcoin, this isn't an issue since the quantity is capped.
3️⃣ Not a Ponzi Scheme: A Ponzi scheme relies on deception, where returns for older investors are paid by the capital inflows from new investors. Bitcoin doesn't operate this way. Its value can rise or fall based on market forces of supply and demand, not a fraudulent structure.
4️⃣ Self-Regulating and Transparent: The Bitcoin protocol is open and transparent, and its rules, including its deflationary properties, are clear to everyone.
Bitcoin's deflationary properties make it unique and valuable to some investors, but it's not without risks or criticisms. It's a complex subject, and different people may arrive at different conclusions about the pros and cons.
A comprehensive explanation requires a deeper insight and a more comprehensive understanding, as Bitcoin is an ongoing process (hence the term "rabbit hole").
This screams that it was written by ChatGPT, but I'll bite anyway.
1. Oh, so my "money" becomes more valuable over time no matter what? I guess there's no reason to spend it! I'll HODL it just like everyone else, and nobody will ever use it in the real world.
2. Inflation means I have to spend my money or it becomes worthless. Deflation means I better not spend my money, because it becomes more and more valuable, until newcomers/outsiders just don't even bother with it since the rich people who hold the currency (in this case bitcoin) only get richer while the little guy has to fight for increasingly tiny amounts.
3. Bitcoin's value rises and falls based on the almighty dollar. It is a fancy, fun investment toy. It is nothing more than another ticker on the stock exchange. This is a fact that bitcoin nerds ABSOLUTELY CANNOT come to grips with. Nobody who does bitcoin things actually produces anything of value in the real world; they just buy bitcoin and HODL it because "it just keeps getting more valuable," when in reality the value is only based on speculation and rich investors pumping and dumping it. So yes, not a "Ponzi Scheme" in the classical sense, but still a system that only benefits those on the ground floor.
4. Irrelevant to my question. I know it's transparent. Transparency doesn't make the deflation problem any better. (And, while we're on things irrelevant to my question, the transparency is a double-edged sword resulting in a privacy nightmare that lets bad actors track everything you purchase).
And of course you finish off with a subtly condescending, underhanded "you're too dumb, it would take too long to explain" style comment.
Typical.
please explain how bitcoin's inherent deflationary properties are actually a good thing and not just a ponzi scheme
actually don't, it's just going to be another 100-IQ take like everything else here
They're been promising this sort of thing for decades. There's always some downside or limitation that keeps it from leaving the lab and getting into real-world tech.
> New York
lol, you live in NY?
no wonder you're so angry, it's a horrible state filled with people just like...well, you
The nice thing about fedi is that all I have to do is call them all men and post some meme about their bone structure or chromosomes and they block me, and I never have to see them again.
But once Primal adds block functionality I think I actually will make use of it. I'd prefer to just mute on principle, but if blocking is all there is, then it's way better than witnessing what I just saw a few minutes ago.
Now they're posting naked post-op trannies here.
But you faggots like that, don't you?
watching all these retards talk about the "bitcoin rabbithole" as if it's a good thing is like watching the q boomers in 2020 saying to trust the plan
male
you aren't fooling anyone
quit being a faggot
go on in, stay awhile
crossing the streams
internet money is not a real job
