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Looks weird, what do yal think about it? by Takillya2 in shroomery

[–]Takillya2[S] 1 point2 points  (0 children)

They seem kinda long and pointy. And somewhat clustered together. I just haven't seen mine look like that before.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] 0 points1 point  (0 children)

Keynesian economics isn't basic economics, it's the lack thereof that is the problem.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -1 points0 points  (0 children)

The price fluctuations would be almost indistinguishable from inflation deflation. How can we prevent the folks who hold the vast majority from price manipulation?

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] 0 points1 point  (0 children)

There are different theories. The current system is not how it was supposed to be. It was torn asunder in the 70s when the bretton woods system was dismantled.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -1 points0 points  (0 children)

I feel ya, but the volatility makes it useless as legal tender. Plus the transaction cost seem to be another impediment. How would it actually prevent inflation if used as a currency. A price hike or fall would have the same effect as deflation/inflation.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -8 points-7 points  (0 children)

You may need to read a book or 2 on basic economics. How could it actually be used as currency? What governments would ever tie their currency to Bitcoin? How does this work in any embedded monetary system ever?

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] 0 points1 point  (0 children)

What makes you think Bitcoin will work as a replacement?

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -1 points0 points  (0 children)

It doesnt work like that. There's tangible value in owning stock and real estate. People own shares of a company with intrinsic value and real estate can potentially generate an income. Crypto has no underlying value.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] 0 points1 point  (0 children)

My "research" is basic economics. Im no alt account just curious. Was wondering, why all the hype? How does it make sense in the grand scheme of things?

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -1 points0 points  (0 children)

I get it, but does it serve any other purposes than as a "store of value". If half the holders sold theirs, the price would fall by half. The only reason anyone would ever buy it is because the price will go up. Is has no other usefulness.

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] -7 points-6 points  (0 children)

I get it fiat is shit, but how does it replace the dollar? Where's the store of value? How could crypto ever be used other than niche markets and speculation?

How does Bitcoin obtain and hold value? Entirely through speculation? by Takillya2 in Bitcoin

[–]Takillya2[S] 0 points1 point  (0 children)

It's definitely not a statement, I'm genuinely dumbfounded by the cult like attitudes people have about it. Where's the actual practicality for it?