RE: Speaking of Nothing Upstairs24 Jan 2025 20:05
But no explanation of why you believe Bitcoin is a viable store of value?
Let's examine two scenarios
1. Quady works all his life and used his salary to buy a house in Sterling, which is worth £500,000
2. Some spotty youth presses play on his computer and in two days, a Bitcoin is produced that is "worth" £50,000 now
3. He repeats this and in a month he has 10 of these coins
Would Quady swap his house for the 10 coins? He'd be brave, because at some point the lunacy could come home to roost and people would realise the coins are in fact totally worthless
The arbitrary creation of wealth is just one more issue with these stupid cryptos. When push comes to shove, people will not exchange actual value (gold) for worthless algorithm results (cyrpto)