dannyf

Please let him continue. More material to quote in the next bull phase

Nothing has “intrinsic value”. The only “value” is what someone else is willing to trade you for it. Bitcoin may well drop but it will never go to zero, because at 0.005 pence I’d buy them all

Today we have inflationary fiat currencies where two things can be seen: - people will consume/spend with debt right now, even though that will cost them more in the future - people can (sometimes) store money in a bank, government insured, at a higher rate of interest than the inflation measure, yet they still consume/spend instead of saving even though their money is increasing in value These seem to me to contradict the notion that people will hoard and not spend a deflationary money. However, in a system with both hard money and fiat, I can understand why someone would spend the fiat first.

Just want to say, your last several posts were great. Extremely well thought out and articulated and really resonated with my thoughts on these topics

Dupe post

Sounds scalable to become a very secure network 😂

Based on this thread I’d say a bottom must be close

Entering stealth phase? Best time to buy right? 🙂

Bitcoin supply is still inflating at the moment

It’s an inefficient yet trustless, distributed ledger of events. You only use it if there is no alternative for security/trust/distribution. Useless for most cases. Perfect for a distributed money/currency. But you also need the hashpower to secure it, and only bitcoin has that All the hype about using blockchain technology and dismissing bitcoin was just that, hype

I really got into bitcoin in the wake of the financial crisis and QE, due to my disgust at how everything was bailed out. That’s in part why it was created (see message in genesis block). I have a feeling we’ll have another financial crisis of similar or worse proportions. Until then we may drift lower and lower but I’ll keep increasing my holding

“The halving” meaning the halving of the block reward, not of the price

Interesting, but comes down to risk/reward. I don’t think 5% is worth the risk of them losing it, for me at least. I’d rather store on coinbase with a 0% return (safer in my opinion), or store it myself (which is what I do)

Some people just don’t understand the concept of money. And some don’t realise that bitcoin public keys are hashed on the blockchain and immune to quantum. And I like the quantum dates picked out of nowhere, exactly like the nonsense ripple prices

It’s definitely something to consider and be wary of. However, on the other side of the coin, tcp/ip is still used today. IPv6 is not yet widespread yet but allows further scaling. To draw comparisons I’d say bitcoin is more like tcp/ip. Once you have a true widespread store of and easily transferable value, things can be built on top of that. And when it has the network effect of the vast majority of users, it’s difficult to change even if you want to (like ipv4 to ipv6)