Quote from: teosanru on December 23, 2020, 03:59:13 PM

Actually if you see all the assets that you have mentioned were tangibles. Even a stock is tangible as indirectly there are the net assets that you get of the company working to appreciate it's price. Derivatives derive their price from these stocks and bonds only. But Bitcoin has no physical asset below it. The antminers or hardwares mining Bitcoin cannot be said to be bitcoin's infrastructure. Therefore to be honest it is merely a line of code. But yes coming to fiat too it's also a sentence promised by the government. So yes it's difficult to draw a direct comparison between both the things. But this does not makes you fake rich. As long as the line of code can be sold in the market at price this high you have no problems at all and same is the case with the fiat money. And if you are so naive to say that governments can fall easily and make your fiat useless there are equal chances of bitcoin pricing falling down to $1000 again.

I think great point! In such manner, we might come to a point when air would be also sold and traded, just like the "line of code" (Bitcoin) is traded now. World changes, and assets might also change. Yet, some of them survived wars, revolutions, government falldowns, epidemics, etc. for thousands of years, while some just emerged in the past 10 years, and we already all know will not exist after the next 10-50 years once quantum computers become a daily reality of every common person.

Quote from: Vishnu.Reang on December 23, 2020, 04:50:52 PM

What a load of BS from the OP? Iphone and Tesla cost more, because they offer the best quality. Instead of an iPhone, you can always go for a phone with similar specs from Xiaomi, which will cost around 80% less than the Apple product. But it won't give you the same quality as that of iPhone. Also, you can go for Nissan Leaf instead of Tesla Model 3. But again, it won't give you the same range or battery life. So these products are not overpriced. Rather, they are fairly priced and people are ready to buy them at these prices. Same is the case with BTC as well.

Do you really believe ipone and tesla offer the best quality Roll Eyes

Think again ...

Quote from: Smartprofit on Today at 12:18:33 PM

Yes, everything I've written is a simplified version of what's really going on.

For example, most modern landowners in Great Britain are families with lineages dating back to the time of William the Conqueror. This is a testament to how slowly the change of elites in the world is.

Landowners, financiers and industrialists rule the world at the same time. They interact very closely with each other.

Nevertheless, each stage of technological development gives new people a chance to become members of the global elite.

Early Bitcoin holders also have this chance.

You purposely right in a way to make me agree with all your points? Cheesy

Because I agree with this as well. And yes, early BTC holders also have a chance to become the next elites deeply rooted in the global economy, but... that depends on 1) whether they are capable enough to rally make that transmission - from "tech freaks trading hype-priced lines of codes" to "financial elites affecting global politics and economy", and 2) whether the old elites permit them to do so... recently SEC and other institutionalised watchdogs had shown an increasing efficiency in taking down those "ex-crypto - to-be elites millionaire". And the case with Ant Group in China showed that the financial elites won't give up their spots so easily even to "traditional / non-crypto" tech oligarchs.

Quote from: Josefjix on Today at 12:45:15 PM

This post is sponsored by an anti-Bitcoin evangelist who thinks bringing in pseudoscience crap would bite off a true Bitcoiner... there are instances given in too many journals by different scholars around the world about the possibility of the internet being shut down which is close not happening.. The Europeans are investing heavily in the stability of cellular network globally, if there are some imaginary apocalyptic humans to dominate the universe by shutting the technological advancement consider it void already..

Imagine how you could use bitcoin easily by just accessing an internet available device, no third party approval unlike the centralised banking system which is even more targeted by such destroyers...

Could you please point out specifically who would sponsor such post, and we would get in touch with them directly? Cheesy

And I believe you either didn't read the post and all comments well, or you "see the words, but don't get the meaning" thats why you are making such accusations.

Quote from: iamsheikhadil on Today at 01:47:37 PM

I disagree with you completely.

iPhones, Tesla might be overpriced "products" which the middle class might buy just to feel that he will be "rich" but bitcoin isn't a product, it's a currency itself.

There might come a time when something unnatural might happen causing no phone, internet and electricity but I don't see that coming for the next couple of centuries!

When that time comes, all bitcoin will have been mined long before that. And probably, human species will also go extinct. So who cares when that happens, everything will be destroyed let alone fiat or Bitcoin!

Yes, your last sentence is exactly to the point! However, don't forget the tech side of BTC and the fact that once quantum computers become a part of regular daily life - yours, mine and anyone's BTC will be useless peace of code, as it was in the first few days when it was created. But fiat, will remain... gold will remain... factories will remain... land will remain.

Quote from: desticy on Today at 02:04:21 PM

Why consider scenarios like this? Obviously, for the normal functioning of some things in the world, a certain level of comfort and development is required. For example, in the event of a war, the development of a person stops, I am talking about the development of personality first of all. Thus, both bitcoin and the dollar need certain conditions in which they will exist. If these conditions are changed, as you propose, it is obvious that things existing in this environment will change.

Loved your comment! Very great point which wasn't mentioned by anyone before. For anything - fiat, gold, iPhone, Tesla, watches, Bitcoin - whatever, - appropriate conditions must exist in order to function as they should and in order to be of any value. But over time, the environments have changed many times, and conditions too - some assets, or "things" remained unchanged for thousands of years. Others came, became popular, attracted attention and just to make some people earn a lot of money on the expense of late-comers. Of course, I am not claiming BTC is one of them for sure, but yet it could be... only time will show and we can get back to this post after 50-100 years to see what happened and how changed

Quote from: NavI_027 on Today at 02:23:32 PM

But in the case of bitcoin, you are not considered social climber when you have one simply because you are investing. Imagine, you can be a trader even having a small capital only. Nice, isn't it? Thus, Financial Literate is a much better term for you Wink

.

Aren't you? You should try telling your old friends whom you didn't see for a long time, or who are super far from BTC/crypto/tech/finance that you are BTC-holder since 20XX and you will see the difference. BTC might have not been created for that purpose (or it was - idk; just don't tend to easily believe to what is written or spoken by some people), but as you can see in 2018 and now in the end of 2020, it is happening.

Quote from: bits4books on Today at 04:27:14 PM

But still - you can not call BTC "fake wealth". It's like calling an Apple stockholder a beggar just because he's holding Apple stock instead of dollars.
The state in which the cryptocurrency now is the same shares of Apple or IBM just in a different form.
But at the same time, when switching to the" natural "value of the cryptocurrency, it will also not be called" fake wealth " because it will already be a full - fledged means of payment. Quite a subtle and slippery question, in general.

Great point! But Apple's shareholders they don't own a share of iPhone and don't call themselves "iPhone evangelists" (imagine if they would Cheesy

). They own a company with real production facilities, with real brand (yes Bitcoin is establishing its brand now with the help of community), if something goes wrong - they can get all Apple's assets and infrastructure and liquidate it via bankruptcy procedures and get cash, but when you will be able to hold a quantum-powered phone in your pocket, like any other person having iPhone now, whom we all can go to sue and ask for asset liquidation and repayments?.. Furthermore, as a regular BTC-holder you barely know how you can individually affect the network or make any change, but if you are a minority shareholder of Apple - you can do quite a lot of things actually. But yes, depending on personal beliefs, philosophy, pre-set of norms we follow, and willingness to expand or direct own thinking towards specific ideas, such question as the one posted here is a very slippery question.