Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
^^
Not sure which planet you've dropped in from .... but bitcoin has been shitting all over gold in annual returns for 7 out of 8 years of its short existence.
You're beloved Central Banking scumbag friends have made gold their bitch for the last century, so i guess you've got that going for it
You're farting against the thunder of a historical change in humanities conception of money.
Not sure which planet you've dropped in from .... but bitcoin has been shitting all over gold in annual returns for 7 out of 8 years of its short existence.
You're beloved Central Banking scumbag friends have made gold their bitch for the last century, so i guess you've got that going for it
You're farting against the thunder of a historical change in humanities conception of money.
You didn't refute anything I said and just posted the equivalent of a bitcoin bumper sticker. Bitcoin does not function as a store of value. In the long run I believe this will be a rather large problem since being a store of value is critical to a settlement network. In the short term the price can pump and dump to any kind of number imaginable. The market can be irrational longer than you can remain solvent, as the saying goes.
As for a real world example, let's say you worked your entire life, 40-50 years or whatever, and you're sitting on a pile of money and are forced at gunpoint to convert every cent of it into either gold and silver or bitcoin. In that theoretical example, who is actually going to choose bitcoin? Pretty much nobody. It's not because bitcoin is an "immature" technology or whatever. This is the way it will always be. Bitcoin cannot defeat the noble metals as the base of Exter's pyramid. It's completely impossible.