I agree with that. I hope to encounter this more often.
If anyone anywhere is selling, at all, there are buyers.
The iron in your body comes from **one** source in the entire universe: dying stars. Really think on that.
#plebchain
That's because no one can tell any market what to do - or call it ahead of time with any level of certainty beyond plausible scenarios.
No knocks taken. Your comment just sparked some thoughts. I agree with your point about the cheerleading. It's fun, and necessary. Satire is an effective tool too.
On the subject of fiat, maybe "by definition" is a bit strong - but "arbitrary decree" appears more accurate than "mandate." Disregarding that, it just seems that a proper interpretation of what constitutes "fiat" comes down to intrinsic value.
Paper cash became accepted because it could also be spent. Gold used to be accepted, now it isn't. Most don't even recognize it anymore, not beyond "shiny yellow metal." Bitcoin, although different in essence, won't get a free pass on the challenges we've faced before. People (and our underlying psychology) are still involved, even if the system changes.
Isn't that the fucking #truth: 
Let's flesh some of this out. It's a deep, and is critical to **really understand** what everyone pushing change is asking for:
**1. All #currency is #fiat, including Bitcoin**
This is a fact, and unassailable. Currency is a representation, thereby making it fiat by definition. Different currencies may be representations of different points of agreement, but that does not change anything about their fiat status. I see no acknowledgement of this here, or anywhere else really. Regardless, it should be understood.
What is important to participants of a given system changes as time passes. As this happens, so too does the system change. Everyone praising #Satoshi would do well to read Darwin. It's one of the most fundamental of principles applying to systems of living things. Our systems are highly abstract, but people are still living things.
**2. Confidence is nearly the sole culprit for financial collapse.**
All sorts of shady dealings and adjustments can be made to currency, and whatever else, without shaking the foundations of the system. The collapse occurs when confidence in the regulators of said system plummets. Not in the typical "don't trust big brother" sort of way. I mean like "Caesar crossing the Rubicon" type of events. That particular one yielded a Sovereign Debt crisis.
If the willing participants believe in the system enough to keep using it, it doesn't collapse. To be clear, I don't mean that everything is fine as long as we participate. The confidence level changes as the shady stuff I mentioned already happens. Take China, for example, reducing their US holdings by the tens of billions earlier this year. That's a participant in the system, demonstrating a loss of confidence in the system.
Now, a point here, one to really understand, is this:
**3. The bigger they are, the harder they fall.**
This is the part that will cause lives to come crashing down. The higher up the pinnacle is, the longer it has to reach terminal velocity before hitting the ground. This is where all of us come in.
We can't speak/wish things into existence. We certainly cannot do it with something like change on this particular magnitude scale. It will certainly take a lot of blood, sweat, and tears invested. Literally, in all historical cases. War causes this. Not alone, but War almost always aligns with these things: "Old habits are hard to kill."
Kidding. I don't personally support any sort of State-run welfare programs. The money isn't free for starters. Have-to-haves are the most expensive sort. So, someone is paying for it, and paying more than anyone reasonably would otherwise.
Not to mention, how could we ever really know what private community is capable of as long as we compel it?
"Shit happens when you party naked." Anon
Woah woah woah, now... Free money is free money... π
Trusting a second party is hard enough. You want me to trust a third party? #gitfukt
