Author Topic: Do you think Bitcoin is a safe store of value?  (Read 95981 times)

rkbabang

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Re: Do you think Bitcoin is a safe store of value?
« Reply #510 on: December 15, 2017, 10:36:42 AM »
... DeepSouth can you understand you're a masochist from my point of view? ...
... I thank God that sadists like you have no power over the economy. ...

Just hilarious. And things still don't get out of hand. CoBF at its best!

S&M on CoBF!

Maybe we need a new section for that.


DeepSouth

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Re: Do you think Bitcoin is a safe store of value?
« Reply #511 on: December 15, 2017, 10:50:54 AM »

Very good stuff in this blogpost.
Thanks for posting.

SD

You're welcome.

@DeepSouth can you understand you're a masochist from my point of view? Anyway, let's just all vote with our wallets and things will work out at some point :)

I honestly don't understand your point of view. I'd say the empirical end result of your policy desires leads to decade long depressions and wild and violent swings in inflation and deflation. It's not masochism to desire an entity with the power to smooth out economic cycles and encourage growth. The federal reserve is one of the few things the US government gets mostly right. If you're terrified of your savings being withered away by low single digit inflation but don't want principal risk for your savings buy TIPS.

I own bitcoin because I think the risk/reward is fair from here even though I think most bullish arguments for bitcoin are very stupid.

SharperDingaan

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Re: Do you think Bitcoin is a safe store of value?
« Reply #512 on: December 15, 2017, 12:04:40 PM »
'Anarcho Capitalist'. Trust no one but yourself, Bitcoin as the currency and payment solution; block chain and smart contracts as close cousins. It is super disruptive because it forces material changes in how business is conducted - and hence, truly is the 'friend' of the masses.

All CB's have 2 faces. The 'dark side' is systematic debasement (Eastblock, Zimbabwe, South America, etc.) and capital controls (Belarus, China, Russia, etc.) to trap a population within a national border. The 'light side' is the mitigation of economic cycles, and the nurturing of  business climates that you describe. One has to have experienced the 'dark side' to fully appreciate the 'light'. Obviously not all CB's are the same - so choose your partners wisely!   

'Old bones' get to be 'old bones' - because they are very good at being anti-fragile. They may lose a battle, but will almost always make the finish line - when most others will not. Hence while the features of the Bitcoin may get updated (CBDC), the original is never going to go away - as there are way too many old bones about.

No different to comparing notes with a consigliere - same business issues; just different approaches.
Everybody learns from each other  :D

SD
 

wachtwoord

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Re: Do you think Bitcoin is a safe store of value?
« Reply #513 on: December 15, 2017, 02:05:31 PM »

Very good stuff in this blogpost.
Thanks for posting.

SD

You're welcome.

@DeepSouth can you understand you're a masochist from my point of view? Anyway, let's just all vote with our wallets and things will work out at some point :)

I honestly don't understand your point of view. I'd say the empirical end result of your policy desires leads to decade long depressions and wild and violent swings in inflation and deflation. It's not masochism to desire an entity with the power to smooth out economic cycles and encourage growth. The federal reserve is one of the few things the US government gets mostly right. If you're terrified of your savings being withered away by low single digit inflation but don't want principal risk for your savings buy TIPS.

I own bitcoin because I think the risk/reward is fair from here even though I think most bullish arguments for bitcoin are very stupid.

The policy of the last ~120 years led to huge bubbles and (long! 20+ years at times) subsequent recesions while an organic market won't have recesions lasting longer than a few years. I concider loving that ewuivalent with loving pain.

On top of that an organic market rewards its participants more fairly in the sense that good decisions lead to financial reward while the current system rewards having the right contacts at the policy maker for the most part.
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

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hobbit

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Re: Do you think Bitcoin is a safe store of value?
« Reply #514 on: December 15, 2017, 08:42:33 PM »

Very good stuff in this blogpost.
Thanks for posting.

SD

You're welcome.

@DeepSouth can you understand you're a masochist from my point of view? Anyway, let's just all vote with our wallets and things will work out at some point :)

I honestly don't understand your point of view. I'd say the empirical end result of your policy desires leads to decade long depressions and wild and violent swings in inflation and deflation. It's not masochism to desire an entity with the power to smooth out economic cycles and encourage growth. The federal reserve is one of the few things the US government gets mostly right. If you're terrified of your savings being withered away by low single digit inflation but don't want principal risk for your savings buy TIPS.

I own bitcoin because I think the risk/reward is fair from here even though I think most bullish arguments for bitcoin are very stupid.

The policy of the last ~120 years led to huge bubbles and (long! 20+ years at times) subsequent recesions while an organic market won't have recesions lasting longer than a few years. I concider loving that ewuivalent with loving pain.

On top of that an organic market rewards its participants more fairly in the sense that good decisions lead to financial reward while the current system rewards having the right contacts at the policy maker for the most part.

even though I disagree with you completely, I think its beyond the point right now since bitcoin core has a zero chance of being a viable currency due to technical limitations. On top of that bitcoin's inability to replace gold gives it a total value of 0. Good luck
« Last Edit: December 15, 2017, 09:37:09 PM by hobbit »

LongHaul

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Re: Do you think Bitcoin is a safe store of value?
« Reply #515 on: December 17, 2017, 06:23:00 AM »
So if I buy up all the cryptocurrency in the world for say $500b then what do get out of them?  Nothing.
This is a friend (not myself) who is a very capable consultant for oil and gas investing. 

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JRM

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Re: Do you think Bitcoin is a safe store of value?
« Reply #516 on: December 17, 2017, 06:32:01 AM »
So if I buy up all the cryptocurrency in the world for say $500b then what do get out of them?  Nothing.

You hold it and wait for the greater fool to come along.

Spekulatius

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Re: Do you think Bitcoin is a safe store of value?
« Reply #517 on: December 17, 2017, 06:32:41 AM »
So if I buy up all the cryptocurrency in the world for say $500b then what do get out of them?  Nothing.

A guy in a basement will create a new one  a couple days later.

If you think about it, mining for gold isnít very productive either, thatís one reason why the gold standard isnít really feasible. It makes no sense to couple wealth with the amount of gold that can be mined, or just as much sense than mining for a artificial limited number of crypto keys.

Itís quite easy to create a new crypto currency, much easier than finding and building a new gold mine though.
To be a realist, one has to believe in miracles.

Jurgis

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Re: Do you think Bitcoin is a safe store of value?
« Reply #518 on: December 17, 2017, 07:04:40 AM »
So if I buy up all the cryptocurrency in the world for say $500b then what do get out of them?  Nothing.

That's why you should buy all cryptokitties instead. Then you have the greatest cryptop.... kitty harem in the world!  8)

SharperDingaan

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Re: Do you think Bitcoin is a safe store of value?
« Reply #519 on: December 17, 2017, 07:41:13 AM »
So if I buy up all the cryptocurrency in the world for say $500b then what do get out of them?  Nothing.

I use my bribe, extortion, AML/ATF, and despot money to buy the untraceable token; then find a willing banker to make a collateral backed loan to a number of little old ladies. Who withdraw the money in cash to pay for a trip somewhere - creating untraceable wealth assembly, and near to untraceable distribution ;)

SD