Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
1 BTC being still equal to 1 BTC? I can give two shits about that.
Really I never understood what's the point of repeating that all the time.
Btw, 1 USD = 1 USD. So what?
1 USD= 1USD
sure.
Do you know the meme of the emptying cart, this well explain that even if 1 USD has always been equal to 1 USD, the true value (something similar to purchasing power) has been going down since inception (or 1971 at least).
So once again,
saying 1BTC=1BTC you are implying your numera ire, your basic unit of account, is the BTC, not the dollar.
Your numeraire, your store of wealth, is the BTC, not the USD.
You are not investing USD in BTC (and price is going up).
You are investing BTC in USD (and price is going down, hence, don't hold in USD more than you are willing to lose).
When you increase your Bitcoin account you are not buying BTC! You are selling USD!
This is, to me, the true meaning of this sentence.
I do understand what they think they mean... it is just that it is nonsense.
You now say 1 USD = 1 USD (because that's not arguable) but also say, as if it was a differential advantage of BTC, that the "true value" of USD has been going down. Great... because that's exactly what I mean when also BTC "true" value has come down... as in past days dump. In both cases, it doesn't mean anything if 1USD=1USD or 1BTC=1BTC. Also, something that obvious (it's a fucking equal not even a function) doesn't need to be repeated as if it were gonna change anytime soon. It won't. I know 1BTC will always be 1BTC.... no matter what that implies.
Also, when I do increase my BTC count 1BTC=1BTC... but look, when i do sell my BTC... 1 BTC still is equal to 1BTC! Wow! Magic!
The supermarket cart, OTOH, is a *GREAT* example/moto to use. 1BTC=1BTC is lame.
I guess we can agree to disagree on this one. I will never think it is a good slogan/moto to use when talking about BTC... much less during a dump. It sounds like the typical loser statement to me. As in... "the important thing is to participate, not to win"... Yeah, right.
Anyways... wake me up when 1BTC != 1BTC. That will be really interesting.
Your frustration regarding some of those kinds of talking points come off as completely justified to me, bitserve.
I have similar frustrations with the converting 100% to BTC crowd, and some of the hoopla to suggest that everyone should just be 100% in BTC and only use BTC for everything blah blah blah.
I don't really have any problems with attempting to advocate increased BTC liquidation avenues, yet the reality of the current matter remains our living in a fiat dominated world, so ultimately the value of BTC remains a floating currency relative to fiat, and the circumstances of BTC holders will also vary depending on whether they earn money in fiat or BTC and also how much value they need to pay for all their various living expenses, including how those are billed.
And surely many governments have not exactly facilitated clarity in terms of spending BTC... those fucks..... so besides the volatility risk of going back and forth between BTC and fiat, there remain potential accounting burdens. And, ain't nobody got time for dat.
In any way that BTC HODLers are attempting to accumulate value, they likely going to need to account for dollar value of the assets from time to time.. whether it is merely to ground themselves into a kind of reality or it is a way to figure out whether it would be in their interest(s) to engage in some reallocation attempts.
Sure BTC could become dominant in several ways, but for the next 100 years, it is quite likely that there are going to be other assets and currencies that are going to need to be measured relative to bitcoin, and even if BTC were to become the one and only asset/currency that remains valuable, it is not like we can eat the shit, so it is still going to be measured in terms of goods and services and sure other kinds of things of value that might also be labeled as currencies or assets or collectibles.
For example, how many years will it take for the value of 1 BTC to equal the one hour services of 13.5 hookers, the purchase of two brand spanking new mid-line lambos, and 69 helpings of blow? Might take a few years before we reach that level of purchasing power... so you better fucking buy back some BTC, mindrust, if you want to hang with a few of the WO boyz (and girl) who have actually reached the superfluous level of double digit BTC!!!!!!!!!
