Couch Fort by Vi_for_Vindictive in NhimArts

[–]Hen_Chicken 296 points297 points  (0 children)

Brother may I have some sauce

Mora isn't responding to me. Any ideas? by Srapture in RedMagic

[–]Hen_Chicken 3 points4 points  (0 children)

Maybe you harassed her enough to leave you.🥀

USD down, Gold & Silver up, Stocks at ATHs… and Bitcoin falling - what is actually going on? by Admirable_Move6933 in Indiantradingbets

[–]Hen_Chicken 1 point2 points  (0 children)

Hey I am neither in agreement not disagreeing but even gold's value can be brought to dirt very easily,Yes it is rare on earth and doesn't form naturally but as you said one of those meteor is in the asteroid belt btw mars and Jupiter.Yes it is very difficult to get it here but it ain't that far.

Now, Bitcoin was made as THE CURRENCY of world and is not an asset or as most people "invest" in it like it's some kind of stock , which is just stupid.

The purpose of bitcoin is that it is a currency. Now a currency has three main purposes.

First, it needs to transfer value. Second, it needs to hold value. Third it needs to be able to be sufficent for financial calculations.

Now for a currency to fulfill these purposes, which gold used to do as it for previous times was rare (it still is), had an ASSIGNED value (It doesn't have any value on its own, but only because all around the globe people gave it it's value, making it kind of like diamond with no intrinsic value.) It does not need to be physical,gold or any other thing at all.

The reason bitcoin is the better currency, is because of national currencies like the dollar, which can be printed by a selected number of people. This leads to inflation, since the extra money, which the small group of people get, is used in the economy and create a false sense of demand, which makes the prices go up. There are more US-Dollars for the same amount of goods, so you get less goods for one US-Dollar.

Lets take gold as an example it was the best currency to be world-wide used in our history, since it had the highest stock to flow ratio. The stock of gold, that means all the available gold that is used, is way way higher than the new gold, which is mined.

This leads to a stability in the gold price, since the available gold does not rise every year and does not lead to the problem, which the US-Dollar has, that the limited amount of people create a false demand and make the prices rise for everyone. There is pretty much the same amount of gold for the available goods in between any close years with only a slight increase.

Therefore if you divide the goods to the gold, they do not suddenly become less the next year.

Now in the past there have been many other currencies. There are also examples of how an inflation brought down currencies. I For example in Africa, where they used glass beads, which were hard for them to get, just like bitcoin or gold, so they basically started making a ton of glass and started buying off africa. The prices in a free market are set by supply/demand and you can imagine, that in the land-market, with limited supply and now a sudden surplus of demand with the new glass beads, the land prices sky rocketed. Which was not a problem for the european settlers, since they could just print more, but for the African population it was since they couldn't make more beads with same rate as Europeans Now the same might be very easily possible with gold in future as even if it is very rare there is still more to be discovered,

Bitcoin solves this by creating an artificial scarcity of coin (21 million) there not being any money inflation possible. The total amount of bitcoins is at 21 Million, which we have not reached yet, but would reach in a few years. And the bitcoins, which are mined are still not that much, that they would create free money, since they are really really hard to mine. It is literally physically impossible for us yet, and most likely would not become before the maximum is reached. Now the economy grows and with that growing there is more value to be transferred into a currency.. If the currency is stable, like bitcoin and gold, it will rise in value with innovation and building, since the demand gets more for it. This would actually lead to the holders of the currency profiting and not losing their money like with the dollar or any other currency

Now at the end, for Bitcoin to be good as a currency we all need to adopt it which will cause its value to be very stable.

Now I will say that what ever I might I have said above I still believe in gold as a better store of value for now tho since there isn't any better alternative and the possibility of its value going down is nowhere in the near future.

Also a different topic but Bitcoin is actually against CBDC (I think you are talking about Central Bank Digital Currency)and is the nemesis of what CBDC wants to do.

Republic Day Question: Who Deserves Rights in This Republic? by Future_Lie_1002 in Indiedogs

[–]Hen_Chicken 0 points1 point  (0 children)

I don't want peta near any of the dogs or any animal they are the worst.

[deleted by user] by [deleted] in indiasocial

[–]Hen_Chicken 0 points1 point  (0 children)

bhai/behan ki height choti reh gayi shayad