Quote from: Alpha Marine on June 03, 2024, 09:01:34 PM

Quote from: AlphaBoy on June 01, 2024, 12:53:49 PM

And I believe that is a good Idea and BTW I am not a newbie at all I start to collect Bitcoins in 2016

The single fact that you've been involved with Bitcoin since 2016 should make you know that Bitcoin is not backed by any currency. It is not backed by the dollar or any other currency. If the dollar collapses, the value of a bitcoin can simply be measured in another currency. It is mostly measured in dollars because that's the generally acceptable currency in the international market.

There are cryptocurrencies backed by dollars such as USDT and USDC. These are called stable currencies because they neither go above or below $1. They appreciate and depreciate based on the dollar. If the dollar crashes, they'll crash. That's a coin back by a dollar.
Gold, for example, is not backed by the dollar. If the dollar ceases to exist, gold would still have its value, only that it would be valued using other currencies in the international market. The currency that is used to put a price on the asset has nothing to do with the value of the asset.

Gold has a value because it's physical thing and not just because it's rare.
if today we been hit by a sold gold meteor that wighte 10000000 mega ton gold will still have a value as there is a vratiy of thing can be used only by gold.
you know that CPU has gold in it? and you know that Cobber lose 70% of elicrecty while gold lose less than 10% meaning that it's better Conductive

Bitcoin and all of Crypto is nothing more than bunch of ones and zeros in a silicon and wood.
zero phyiscal value, what gave it a value is demand and supply, the more people want it the more price it gain.

and this is where Satoshi master plan will come to real, once the last Bitcoin mined (92.5% of the Bitcoins are already mined) there will be no more supply but only demand, Bitcoin's price might get to 200K per one Bitcoin meaning that Satoshi will be the rich enough to buy an entire country.

If I had to Guess I'll say his plan is to create a utopia for smart people