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?
It’s just amazing how stupid you have to pretend to be in order to keep up this delusion.
You think you have a “gotcha” with the gold thing. You don’t. The rarity in bitcoin isn’t what created the value, and it’s not what sustains it either. That’s just a basic requirement for a currency; it needs to be limited.
What created and sustains Bitcoins value is the trillions of dollars in drug money it’s used for. Which you can’t refute. Well you can, and have, but like I say, it’s delusional, I’ve shown you the data.
Given how obsessed you are with being right, I’m surprised you want to just admit to being wrong:
Honestly, the mental shenanigans you have to pull for this? You don’t think Bitcoin grew in value, exponentially? But I’m gonna bet you won’t be able to argue that either, seeing how it’s definition is ““of an increase) becoming more and more rapid””
And you don’t think this qualifies?
What’s your native language man?
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?
The buying power of gold is remarkably similar to what it was 100 years ago, but I assume you didn’t consider the buying power, but the numbers on the screen. It has changed, yeah, but the physical amount of gold you need is rather similar to what it was 100 years ago if you were to want to buy a house. It’s like literally one of the first things kids get taught in economics in any decent basic education; how well gold maintains value and how stable it has been historically? :D The value of gold definitely has maybe doubled or quadrupled, depending on what and how you do the comparison, but it’s definitely not even a dozen times what it was 100 years ago. Bitcoins value has changed by literally >20 000%. But you’re gonna sit there and pretend that isn’t exponential but that gold is? :DD
This is just ridiculous how you’re having to do all this because you can’t name a single thing you can buy with bitcoin that isn’t illegal. Despite me proving all my claims and you showing literally no support for your delusional brainfarts and decrying everything as insufficient and just refusing to believe reality, despite sourced facts.
TRILLIONS, remember? TRILLIONS. Funny how you haven’t addressed that a single time, isn’t it?
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?
“What does it mean to be a currency trader”
It’s just amazing how stupid you have to pretend to be in order to keep up this delusion.
You think you have a “gotcha” with the gold thing. You don’t. The rarity in bitcoin isn’t what created the value, and it’s not what sustains it either. That’s just a basic requirement for a currency; it needs to be limited.
What created and sustains Bitcoins value is the trillions of dollars in drug money it’s used for. Which you can’t refute. Well you can, and have, but like I say, it’s delusional, I’ve shown you the data.
Honestly, the mental shenanigans you have to pull for this? You don’t think Bitcoin grew in value, exponentially? But I’m gonna bet you won’t be able to argue that either, seeing how it’s definition is ““of an increase) becoming more and more rapid””
And you don’t think this qualifies?
What’s your native language man?
The buying power of gold is remarkably similar to what it was 100 years ago, but I assume you didn’t consider the buying power, but the numbers on the screen. It has changed, yeah, but the physical amount of gold you need is rather similar to what it was 100 years ago if you were to want to buy a house. It’s like literally one of the first things kids get taught in economics in any decent basic education; how well gold maintains value and how stable it has been historically? :D The value of gold definitely has maybe doubled or quadrupled, depending on what and how you do the comparison, but it’s definitely not even a dozen times what it was 100 years ago. Bitcoins value has changed by literally >20 000%. But you’re gonna sit there and pretend that isn’t exponential but that gold is? :DD
This is just ridiculous how you’re having to do all this because you can’t name a single thing you can buy with bitcoin that isn’t illegal. Despite me proving all my claims and you showing literally no support for your delusional brainfarts and decrying everything as insufficient and just refusing to believe reality, despite sourced facts.
TRILLIONS, remember? TRILLIONS. Funny how you haven’t addressed that a single time, isn’t it?
You think currency traders… take Bitcoin… and trade it for… Bitcoin…? Why would they do that?
No more so than this:
I didn’t say that. Now you’re literally just making things up.
Except I did. Are you illiterate?
You haven’t done that.
Such as?
I have actually, just more illiteracy on your part. Maybe try going back and sounding it all out?