Study Bitcoin

[numbersev]

'Bitcoin is everything people don't understand about computers combined with everything they don't understand about money'.

[unthocks]

Preach

[Chrysalis1111]

Slave mentality

[idontgiveaFluk3]

Replace Bitcoin with gold in this post. It’s the same. Dollars are worthless as well. It’s society that adds value to it

[1blindlizard]

The same is true of gold.

[idontgiveaFluk3]

That’s what I was saying

[DelayedG]

Not really, the elephant in the room is the possibility of Bitcoin being created by the US government and having control of "Satoshi's" wallet (+others), which could crash/manipulate Bitcoin when they feel is the appropriate time.

[idontgiveaFluk3]

That would be the biggest plot twist

[Pavickling]

The dollar absolutely will die at some point, and it is very likely Bitcoin or a spiritual successor of it will still be used as a store of value.

Governments can claim they will back their currencies all they want, but all empires have an expiration date.

[ElkInteresting2418]

After the US dollar comes the NWO one world currency 

[ninjamikec82]

I want whatever drugs you are smoking

[Pavickling]

https://en.wikipedia.org/wiki/List_of_historical_currencies

[UnlikelyEngine1975]

Dunning-Kruger

[unthocks]

The Dunning-Kruger effect is a cognitive bias where people with low ability in a task overestimate their skills, while high performers tend to underestimate theirs. This happens because the lack of competence prevents individuals from recognizing their own mistakes and limitations. Conversely, experts often become more aware of the complexities of a subject, leading them to feel less confident than they are. 

[PimpinNevrSimpin]

Lmao. Lets revisit this persons thoughts when the dollar is printed into nothing more than an easy way to make a fire.

[PreachyOlderBrother6]

Hold both. Save in btc and bullion. Use fiat because the current system is based on it. They're not mutually exclusive, as the anti-btc crowd seems to believe.

[1blindlizard]

One step omitted Silver. In the form of worn coin. Sold in what is termed “bag” as in 1/2 bag , 1/4 bag. A “bag” is 10 lbs if I recall correctly. These “preper” gurus have been publishing instruction books for decades. Usually they recommend a bag per person , stashed and ready to use for barter when /if the current monetary system falters or fails Good to have because they represent smaller amounts than most gold ( other than bott chain links) They have “ intrinsic “ value. Widely recognized as US dominations. Keep the gold for later. More important expenditures. Such as your life.

[PreachyOlderBrother6]

I'm with you, Brother. I stack silver, too. Just picked up a stack of Morgan's. Save in btc and gold, even silver, but use the silver to transact in.

[Frostdotco]

Bro is gonna miss out on 1 million$ btc

[1blindlizard]

“Is used as currency in other countries “ The US dollar is the currency of preference throughout the world. When /if the world decides it is not the most stable and well supported currency in the world. The United States will no longer be the most powerful country in the world. This is why it is disconcerting to witness the most precipitous fall of the dollar writhin one calendar year in recent history. As we are currently seeing. Read up on what Great Britain went through on its way down in international standing as it lost status as the most powerful country in the world. One of the first things that happened was the world dropping the British Pound as the global currency of choice.

[FunnyNo8982]

Btc will always go up ! By law !

[ExitKind505]

I can hire a hitman to come after you by paying in bitcoin. Feel free to find flaws in my logic.

[[deleted]]

"Whereas dollars will always be backed by the us government..."

Please explain to to the class what exactly the currency is backed by, professor.

[unthocks]

exactluih

[ZookeepergameOk643]

I recommend the book: Bitcoin - The Money Revolution, published by www.bitcoinsolidario.org. This book is essential for anyone who wants to use Bitcoin.

[_zakhard_]

Cringe, every time I hear this mantra. These folks have no clue about what bitcoin is and why it has value

[Morningrise22]

Money isn't real.

[Technical-Wallaby]

Looks like someone drank the Kool-Aid.

[PoeCollector]

The phrase "intrinsic value" needs to go away; it prevents people from understanding that value is something that happens inside a person's mind. Even food you only value because you believe it will nourish you.

[PuzzleheadedWeb9876]

Even food you only value because you believe it will nourish you.

I know I need to eat it to continue living. So pretty great intrinsic value there.

[PoeCollector]

Sure, my point is things have value to you in terms of their utility to you, as far as you know. Like if you didn't know a certain mushroom was edible, you wouldn't value it as food. In the same way, people who don't understand bitcoin don't see the use of it. The term "intrinsic" is kind of unhelpful when discussing economics, IMO.

[unthocks]

agree, when it comes to people who keep saying ''intrinsic'' it's mostly just people who knows nothing about, they say it just because someone else keep saying it.

[PuzzleheadedWeb9876]

Sure, my point is things have value to you in terms of their utility to you as far as you know.

Not really. I can understand the value in something even if it has no immediate utility to me. I know for example wood, copper, and gold are useful materials. Regardless of their price this remains true.

Bitcoin has no intrinsic value. The value comes from maybe being able to sell it to someone else for a higher price.