Gold was backed up as value because it was established as rare and valuable several thousand of years ago, and it’s remained equally rare.
Bitcoin has significantly increased in value because the trade it’s being uses for has increased.
The first time I bought drugs with Bitcoin I had several hundreds. Then I bought them last time when they were around 1e a piece. Then despite not buying any more, it kept increasing in value so much I got several drug orders out of after spending about 115 out of it.
People noticed the huge influx in people buying Bitcoin. As traders do, they pay attention to trends. But people weren’t buying it as “store of value”, ducking LOL. They were buying bitcoin to easily and anonymously order drugs.
And that business is worth (this is the dozenth time I’m repeating this and you’re ignoring it, coward) literally TRILLIONS.
Which is why it kept growing in value, which is it attracted investment.
But I ask you, for the UMPTEENTH TIME:
#WHAT ELSE DO YOU PURCHASE WITH BITCOIN THAN ILLEGAL THINGS?
But the value of gold hasn’t increased exponentially, unlike Bitcoin.
Any currency needs to be somehow limited for it not suffer hyperinflation. That’s just a basic necessity for anything valuable. With Fiat currency, it’s artifical limiting, which makes it highly unstable, unlike the gold standard. I wouldn’t be surprised if the US saw Post WWI Germany levels of inflation in the next few years, because the US is no longer on the gold standard, the US is making enemies of all and even the petro-dollar is faltering.
What do you purchase with chunks of gold?
Literally anything.
There’s not a city in the world you can’t go to with a huge bag of properly stamped gold and live as merry as you want.
Your whole “gold isn’t used as direct currency anymore” is a ridiculous fucking strawman, because the money represents gold, as per the gold standard. Bitcoin barely represents money, having very limited cash out points, let alone actually being backed up by anything physical.
Doesn’t matter how much of a tantrum you have. Practically all transactions being done in bitcoin is illegal trade. Investing in bitcoin isn’n a transaction with bitcoin. It’s just trading in bitcoin.
The value of Bitcoin has not increased exponentially. You should look up that word.
Or maybe you should?
“of an increase) becoming more and more rapid”
I can roll up to the McDonalds drive-thru, ask for a quarter-pounder, and they’ll accept a chunk of gold as payment?
Like with Bitcoin?
I’m aware you’re unaware of how black markets work, that’s probably clear for anyone getting this far into the thread, but you can use it as currency, and every single small town will have at least a single gold trader, who will “store value” for you.
In what way?
In the way that countries on the gold standard, which included he US until about 50 years ago, had a system in which technically you were allowed to go any bank and demand your moneys worth in gold. Technically. But everyone doing that causes a bank run.
Which would also happen if there was some massive need about computer tech that could somehow magically trace all bitcoin transactions. And I do mean magically, because right now it trusts maths. And unless that changes, there’s prolly not gonna be a bank run on bitcoin.
I’ve asked you what else could there be? What use can it be for people? And the only thing you came up with is “a store of value”. Meaning you’re investing in something that is being actively used as currency, despite you not having a single use for that currency, because the market which utilises that currency is so strong, it makes investing (ie “storing value with the expectation it’s gonna grow”) in a currency profitable.
Like I said from the start, the drug trade created the value which made Bitcoin a worthwhile investment. That’s what created the value; a market valued in TRILLIONS.
Remember that? How the value is in the TRILLIONS? Or are you just gonna pretend all the data I showed — from fucking Europol and not some niche independent propaganda rags — doesn’t exist?
So I can roll up to the McDonalds drive-thru, ask for a quarter-pounder, and they’ll accept a chunk of gold as payment?
Or do I need to exchange it first?
despite you not having a single use for that currency
To be clear, I use Bitcoin for legal transactions (not exchanges) somewhat regularly. Would actually be extremely cumbersome to send boosts using gold, funny enough. Probably why people don’t do it.
So I can roll up to the McDonalds drive-thru, ask for a quarter-pounder, and they’ll accept a chunk of gold as payment?
You can get a whore to do that for you, if you’re so committed. I didn’t say you can use it for literally any transaction. I said for literally anything. And I dare you you to give me gold and challenge me for a thing I can’t get, if it isn’t something like a sample of small pox.
Or do I need to exchange it first?
Not like Bitcoin, no.
To be clear, I use Bitcoin for legal transactions (not exchanges) somewhat regularly. Would actually be extremely cumbersome to send boosts using gold, funny enough. Probably why people don’t do it.
To purchase what, exactly? Or to buy and sell Bitcoin? Because unless you’re illiterate, you should understand that was excluded.
Weird how you keep avoiding answering me, almost as if you were a pathetic coward in avoidance. Almost like, eh?
I’ve asked you what else could there be? What use can it be for people? And the only thing you came up with is “a store of value”. Meaning you’re investing in something that is being actively used as currency, despite you not having a single use for that currency, because the market which utilises that currency is so strong, it makes investing (ie “storing value with the expectation it’s gonna grow”) in a currency profitable.
Like I said from the start, the drug trade created the value which made Bitcoin a worthwhile investment. That’s what created the value; a market valued in TRILLIONS.
Remember that? How the value is in the TRILLIONS? Or are you just gonna pretend all the data I showed — from fucking Europol and not some niche independent propaganda rags — doesn’t exist?
Ps edit funny how you don’t contravene the definition of “exponential” now that we checked it, isn’t it?
No, not exactly like gold.
Gold was backed up as value because it was established as rare and valuable several thousand of years ago, and it’s remained equally rare.
Bitcoin has significantly increased in value because the trade it’s being uses for has increased.
The first time I bought drugs with Bitcoin I had several hundreds. Then I bought them last time when they were around 1e a piece. Then despite not buying any more, it kept increasing in value so much I got several drug orders out of after spending about 115 out of it.
People noticed the huge influx in people buying Bitcoin. As traders do, they pay attention to trends. But people weren’t buying it as “store of value”, ducking LOL. They were buying bitcoin to easily and anonymously order drugs.
And that business is worth (this is the dozenth time I’m repeating this and you’re ignoring it, coward) literally TRILLIONS.
Which is why it kept growing in value, which is it attracted investment.
But I ask you, for the UMPTEENTH TIME:
#WHAT ELSE DO YOU PURCHASE WITH BITCOIN THAN ILLEGAL THINGS?
Just like Bitcoin.
What do you purchase with chunks of gold?
But the value of gold hasn’t increased exponentially, unlike Bitcoin.
Any currency needs to be somehow limited for it not suffer hyperinflation. That’s just a basic necessity for anything valuable. With Fiat currency, it’s artifical limiting, which makes it highly unstable, unlike the gold standard. I wouldn’t be surprised if the US saw Post WWI Germany levels of inflation in the next few years, because the US is no longer on the gold standard, the US is making enemies of all and even the petro-dollar is faltering.
Literally anything.
There’s not a city in the world you can’t go to with a huge bag of properly stamped gold and live as merry as you want.
Your whole “gold isn’t used as direct currency anymore” is a ridiculous fucking strawman, because the money represents gold, as per the gold standard. Bitcoin barely represents money, having very limited cash out points, let alone actually being backed up by anything physical.
Doesn’t matter how much of a tantrum you have. Practically all transactions being done in bitcoin is illegal trade. Investing in bitcoin isn’n a transaction with bitcoin. It’s just trading in bitcoin.
English isn’t your native language, I take it?
The value of Bitcoin has not increased exponentially. You should look up that word.
I can roll up to the McDonalds drive-thru, ask for a quarter-pounder, and they’ll accept a chunk of gold as payment?
In what way? I’m assuming you’re talking about the US – you do know that the gold-standard hasn’t been used for decades there, right?
There is a fixed supply of Bitcoin. Being able to hold it in your hand or not is completely irrelevant.
Or maybe you should?
“of an increase) becoming more and more rapid”
Like with Bitcoin?
I’m aware you’re unaware of how black markets work, that’s probably clear for anyone getting this far into the thread, but you can use it as currency, and every single small town will have at least a single gold trader, who will “store value” for you.
In the way that countries on the gold standard, which included he US until about 50 years ago, had a system in which technically you were allowed to go any bank and demand your moneys worth in gold. Technically. But everyone doing that causes a bank run.
Which would also happen if there was some massive need about computer tech that could somehow magically trace all bitcoin transactions. And I do mean magically, because right now it trusts maths. And unless that changes, there’s prolly not gonna be a bank run on bitcoin.
I’ve asked you what else could there be? What use can it be for people? And the only thing you came up with is “a store of value”. Meaning you’re investing in something that is being actively used as currency, despite you not having a single use for that currency, because the market which utilises that currency is so strong, it makes investing (ie “storing value with the expectation it’s gonna grow”) in a currency profitable.
Like I said from the start, the drug trade created the value which made Bitcoin a worthwhile investment. That’s what created the value; a market valued in TRILLIONS.
Remember that? How the value is in the TRILLIONS? Or are you just gonna pretend all the data I showed — from fucking Europol and not some niche independent propaganda rags — doesn’t exist?
“of an increase) becoming more and more rapid”
Interesting:
for
So I can roll up to the McDonalds drive-thru, ask for a quarter-pounder, and they’ll accept a chunk of gold as payment?
Or do I need to exchange it first?
To be clear, I use Bitcoin for legal transactions (not exchanges) somewhat regularly. Would actually be extremely cumbersome to send boosts using gold, funny enough. Probably why people don’t do it.
You can get a whore to do that for you, if you’re so committed. I didn’t say you can use it for literally any transaction. I said for literally anything. And I dare you you to give me gold and challenge me for a thing I can’t get, if it isn’t something like a sample of small pox.
Not like Bitcoin, no.
To purchase what, exactly? Or to buy and sell Bitcoin? Because unless you’re illiterate, you should understand that was excluded.
Weird how you keep avoiding answering me, almost as if you were a pathetic coward in avoidance. Almost like, eh?
I’ve asked you what else could there be? What use can it be for people? And the only thing you came up with is “a store of value”. Meaning you’re investing in something that is being actively used as currency, despite you not having a single use for that currency, because the market which utilises that currency is so strong, it makes investing (ie “storing value with the expectation it’s gonna grow”) in a currency profitable.
Like I said from the start, the drug trade created the value which made Bitcoin a worthwhile investment. That’s what created the value; a market valued in TRILLIONS.
Remember that? How the value is in the TRILLIONS? Or are you just gonna pretend all the data I showed — from fucking Europol and not some niche independent propaganda rags — doesn’t exist?
Ps edit funny how you don’t contravene the definition of “exponential” now that we checked it, isn’t it?
So yes, you do need to exchange gold into another currency before you can use it for most transactions.
Try reading again, I just told you. Also how would you buy and sell Bitcoin using Bitcoin… what do you even think that means…?
Given how obsessed you are with being right, I’m surprised you want to just admit to being wrong:
So either you picked a colloquial definition that makes you wrong about gold, or you’re wrong about it being literally exponential. Which one is it?