The future of Bitcoin and crytocurrencies
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Bitcoin has undeniably delivered on its promise of censorship-resistant, trustless transactions, but Ethereum has also achieved groundbreaking advancements that shouldn't be overlooked... Just to mention some Smart Contracts, DeFi, NFTs, DAOs, Layer 2 Scaling and so on...
While Bitcoin excels as digital gold and a store of value, Ethereum has expanded blockchain potential by enabling a decentralized economy. The innovation isn’t just 80 years away, it’s happening right now across multiple platforms.︀
(I also own a ton of ETH so pls buy my shitcoin)
While Bitcoin excels as digital gold and a store of value, Ethereum has expanded blockchain potential by enabling a decentralized economy. The innovation isn’t just 80 years away, it’s happening right now across multiple platforms.︀
(I also own a ton of ETH so pls buy my shitcoin)
Thanks for the acknowledgement, @daniels27. People have been taking my posts far too personally, which seems to be a trait of crypto fans of any coin. I like XMR, and they too become unfriendly on Reddit when I say it still has BTC's same problem of having no asset value, or that they shouldn't wish for a big rise in speculative price.
So when I make criticisms, it's coming from an objective and cautious view. I do want decentralized cryptos to succeed. XMR has a circular economy culture, but that circular economy needs to grow much bigger to have more utility. I'm also aware︀ that if it does grow bigger as people want to get away from CBDC and︁ BTC tracking, the governments could step in again and ban shops from accepting it, or︂ just announce its ownership as illegal. We'll see how that develops.
So when I make criticisms, it's coming from an objective and cautious view. I do want decentralized cryptos to succeed. XMR has a circular economy culture, but that circular economy needs to grow much bigger to have more utility. I'm also aware︀ that if it does grow bigger as people want to get away from CBDC and︁ BTC tracking, the governments could step in again and ban shops from accepting it, or︂ just announce its ownership as illegal. We'll see how that develops.
Yes, and that is exactly what we need. Of course, I can post here︄ everyday how bitcoin, Switzerland and Austrian Economics are great and will save the world. I︅ will get many likes and people will show me all their love. But how is︆ this any better than the USSR? Not at all. They also all reported to Gorbatchev︇ how great he and the USSR is and he believed it as everybody was telling︈ him so. Eventually reality caught him cold.
I can higly recommend reading the book (it︉ is in German though) Pulverfass Sovietunion it is from 1990 (I found it during a︊ house dumping job and decided to keep it when I was at the trash hall)︋ https://www.google.ch/books/edition/Pulverfass_Sowjetunion/iHUPNAAACAAJ?hl=en
That's why I keep posting the "other" view which I deem under represented here.︌ It only adds value to the discussion. It is not that the view does not︍ exist, I am just expressing it for you. If you post too much how bad︎ Switzerland is, I will represent the other half of the reality and vice versa.
I once had a private discussion with @jafo on that topic. That was his reply:
Keep telling the facts and your experiences because others, in this case, me, learn from it, and we adjust our sails to avoid capsizing our "ship." 😉
@JohnnyDoe @void @W Fish when we question your opinion, it does not mean that we do not agree. It is a request for a more profund discussion which does not ignore any arguments that are already out there but just not spoken out. Never kill the messenger! Embrace the invitation and come with︀ the arguments. No need to feel offended, we have your back covered. Believing what your︁ teacher says maybe makes you a good kid, but not a successful adult. Always remember︂ @jafo and contribute to the discussion in a productive manner.
Here and here:
https://www.offshorecorptalk.com/th...ical-proofs-regarding-mafias-in-europe.46333/
I can higly recommend reading the book (it︉ is in German though) Pulverfass Sovietunion it is from 1990 (I found it during a︊ house dumping job and decided to keep it when I was at the trash hall)︋ https://www.google.ch/books/edition/Pulverfass_Sowjetunion/iHUPNAAACAAJ?hl=en
That's why I keep posting the "other" view which I deem under represented here.︌ It only adds value to the discussion. It is not that the view does not︍ exist, I am just expressing it for you. If you post too much how bad︎ Switzerland is, I will represent the other half of the reality and vice versa.
I once had a private discussion with @jafo on that topic. That was his reply:
Keep telling the facts and your experiences because others, in this case, me, learn from it, and we adjust our sails to avoid capsizing our "ship." 😉
@JohnnyDoe @void @W Fish when we question your opinion, it does not mean that we do not agree. It is a request for a more profund discussion which does not ignore any arguments that are already out there but just not spoken out. Never kill the messenger! Embrace the invitation and come with︀ the arguments. No need to feel offended, we have your back covered. Believing what your︁ teacher says maybe makes you a good kid, but not a successful adult. Always remember︂ @jafo and contribute to the discussion in a productive manner.
Here and here:
https://www.offshorecorptalk.com/th...ical-proofs-regarding-mafias-in-europe.46333/
I think the paper has been reviewed and we agreed, including the assumption that USD is the worst shitcoin as you correctly put it.
However, the paper leaves out a very important debate. Is there an intrinsic demand for bitcoin or is it just a Self-Fulfilling Prophecy? The whole paper is based on the assumption that people will buy bitcoin to hedge USD. But it leaves out the fact, that people are also buying stocks, real estate, gold, diamonds, roman coins, and many similar things the like. While the statements in your paper are all true and we︀ all agree, the paper is actually talking about a completely generic phenomenon with anything that︁ is limited in its total supply. It does nowhere explain why there will be a︂ continuous demand for bitcoin. And of course, the assumption of t tending towards infinity while︃ the USD value of bitcoin tends towards infinitly is already pretty funny. Do you really︄ believe anybody to stock bitcoin in even 1000 years?
But those flaws left aside, I︅ think we agree with your math.
And while we are at it. You may want︆ to write this properly in terms of mathematics:
Code:
And btw,︇ typing it out in LaTeX makes it look much more professional and credible.
However, the paper leaves out a very important debate. Is there an intrinsic demand for bitcoin or is it just a Self-Fulfilling Prophecy? The whole paper is based on the assumption that people will buy bitcoin to hedge USD. But it leaves out the fact, that people are also buying stocks, real estate, gold, diamonds, roman coins, and many similar things the like. While the statements in your paper are all true and we︀ all agree, the paper is actually talking about a completely generic phenomenon with anything that︁ is limited in its total supply. It does nowhere explain why there will be a︂ continuous demand for bitcoin. And of course, the assumption of t tending towards infinity while︃ the USD value of bitcoin tends towards infinitly is already pretty funny. Do you really︄ believe anybody to stock bitcoin in even 1000 years?
But those flaws left aside, I︅ think we agree with your math.
And while we are at it. You may want︆ to write this properly in terms of mathematics:
Code:
\lim_{t\to\infty} X(t) = \inftyAnd btw,︇ typing it out in LaTeX makes it look much more professional and credible.
Bitcoin is superior because it combines the best attributes of traditional assets (scarcity, utility, and demand) while offering unique advantages (decentralization, security, and global access).
Your whole argument misunderstands the nature of Bitcoin value... Bitcoin isn't expected to reach "infinity" in price, rather, as fiat currencies devalue due to inflation, BTC purchasing power increases. This reflects why it is a︀ hedge against fiat, not some mythical valuation model. stupi#21
As for 1000 years from now, it’s︁ speculative, but bticoin durability comes from its decentralization, the fact that it is open-source and︂ ability to adapt. Few assets can claim similar longevity prospects.
Your whole argument misunderstands the nature of Bitcoin value... Bitcoin isn't expected to reach "infinity" in price, rather, as fiat currencies devalue due to inflation, BTC purchasing power increases. This reflects why it is a︀ hedge against fiat, not some mythical valuation model. stupi#21
As for 1000 years from now, it’s︁ speculative, but bticoin durability comes from its decentralization, the fact that it is open-source and︂ ability to adapt. Few assets can claim similar longevity prospects.
Yes, and it is not bound to any physical object. But there are also shortcomings. I think we can all see the superiority. But that is a prerequisite on which the paper is based on but it does not state it. We can write any paper on anything, the question is what are the prerequisites for it to hold true.
Well, the paper clearly states that bitcoin's exchange rate in USD tends︃ to infinity over time.
Some believe in gold,︆ some in real estate, some in bitcoin. In the end it is all a matter︇ of taste. I am not taking sides here.
But what most miss in the discussion︈ is that in the end the number of potential owners also has a direct influence︉ of the value of any limited-supply item.
And: If you ask doomsday preppers (anyone here?),︊ all your coins are useless as they only work with electricity and internet.
Well, the paper clearly states that bitcoin's exchange rate in USD tends︃ to infinity over time.
Some believe in gold,︆ some in real estate, some in bitcoin. In the end it is all a matter︇ of taste. I am not taking sides here.
But what most miss in the discussion︈ is that in the end the number of potential owners also has a direct influence︉ of the value of any limited-supply item.
And: If you ask doomsday preppers (anyone here?),︊ all your coins are useless as they only work with electricity and internet.
Calling it 'taste' misses a key distinction...Bitcoin isn’t just another asset. It’s a decentralized, global monetary network. hap¤#"
As for doomsday preppers, sure, without electricity or the internet, bitcoin loses function, just like stock markets, banks, and most modern︀ infrastructure.
But if we’re in full societal collapse, stocking up on canned goods will probably︁ beat gold too. Bitcoin is built for a functioning, evolving world, not apocalptic scenarios. gru87¤¤
As for doomsday preppers, sure, without electricity or the internet, bitcoin loses function, just like stock markets, banks, and most modern︀ infrastructure.
But if we’re in full societal collapse, stocking up on canned goods will probably︁ beat gold too. Bitcoin is built for a functioning, evolving world, not apocalptic scenarios. gru87¤¤
Yes, but then there are people who prefer being paid in gold or shitcoin for various reasons. In the end it remains a matter of taste. And USDT DAI [edit sorry guys] is also a decentralized, global monetary network, so that cannot be the distinctive part.
Hmmmmm
Code:
Code:
Code:
function addBlackList (address _evilUser) public onlyOwner {
isBlackListed[_evilUser] = true;
AddedBlackList(_evilUser);
}
function destroyBlackFunds (address _blackListedUser) public onlyOwner {
require(isBlackListed[_blackListedUser]);
uint dirtyFunds = balanceOf(_blackListedUser);
balances[_blackListedUser] = 0;
_totalSupply -= dirtyFunds;
DestroyedBlackFunds(_blackListedUser, dirtyFunds);
}
The funny thing about it is that this is not something that you solve with a︃ debate.
Like after a war or battle the winners just impersons what is right, here︄ too - we can debate until the sun goes down but for example:
two guys︅ who have equal amount of wealth today will have a massively different amount in 20︆ years if ceteris paribus one holds BTC and the other fiat. The first guy still︇ can make an impact on economic and other decisions and the other not. Simple as︈ that. BTC is just better, more efficient technology than fiat.
It is totally irrelevant if︉ in 1000 yeats somebody stocks BTC or not. If a better thechnology will emerge, then︊ maybe not. For sure nobody stocks fiat though.
Like after a war or battle the winners just impersons what is right, here︄ too - we can debate until the sun goes down but for example:
two guys︅ who have equal amount of wealth today will have a massively different amount in 20︆ years if ceteris paribus one holds BTC and the other fiat. The first guy still︇ can make an impact on economic and other decisions and the other not. Simple as︈ that. BTC is just better, more efficient technology than fiat.
It is totally irrelevant if︉ in 1000 yeats somebody stocks BTC or not. If a better thechnology will emerge, then︊ maybe not. For sure nobody stocks fiat though.
Sorry, Thanks for your comment. I meant DAI. But my point was that there are many shitcoins that are also decentralised.
Yes, but the point of the discussion here is what is the future︀ of bitcoin. Apparently, some believe less in it than others, otherwise, we would not have︁ this thread. There also is @JohnnyDoe backing a slow horse and getting laughed at by @wellington. Remember, even slow horses deserve some affection.
People still stock roman coins in 2025. I am pretty sure they will be doing the︄ same with USD quarters in 4050. Cannot be that bad.
People still stock roman coins in 2025. I am pretty sure they will be doing the︄ same with USD quarters in 4050. Cannot be that bad.
I posted this once or twice.... why not again
https://www.youtube.com/playlist?list=PL2jAZ0x9H0bRvoNt1xNJWYa9_8_an03h0
it's essential to watch both these series and then continue this discussion... or not
https://www.youtube.com/playlist?list=PL2jAZ0x9H0bRvoNt1xNJWYa9_8_an03h0
it's essential to watch both these series and then continue this discussion... or not
I tend to NOT attribute this to beliefs. I would rather like to think that it is about understanding.
It took me too probably like 3 approaches before i started to understand a little about the economic side of BTC although I have studied economics in uni. The first two times I turned away because I thought that is has no use.︀ 😉
Sure, for numismatic purposes. As abacuses are held for museal value and not for︃ performing calculations. 😉
It took me too probably like 3 approaches before i started to understand a little about the economic side of BTC although I have studied economics in uni. The first two times I turned away because I thought that is has no use.︀ 😉
Sure, for numismatic purposes. As abacuses are held for museal value and not for︃ performing calculations. 😉
See this highlighted screenshot from Blackrock's video.
https://twitter.com/x/status/1869132349465829799
Also on the SEC website:
Source - Scroll to︂ P.22: https://www.sec.gov/Archives/edgar/data/1980994/000143774924025254/bit20240805_424b3.htm
Regardless, the underlying problem still remains:
21 Million of nothing = Nothing.︃
Bitcoin is backed up by: Nothing.
So 21 Million Bitcoins = Nothing.
The only thing︄ keeping it going is usage. When it is no longer used or something else︅ comes along, BTC goes to zero. BTC isn't the best technical coin, it was just︆ the first. This is the danger of speculating on cryptos. There is not one stock︇ on any stock market that has zero intrinsic value like this. The people should have︈ used it as a currency. It would still have faced the wrath of government power︉ grabs, but at least the dollar-worth of the BTC is not up in the air︊ with a long way down.
https://twitter.com/x/status/1869132349465829799
Also on the SEC website:
Source - Scroll to︂ P.22: https://www.sec.gov/Archives/edgar/data/1980994/000143774924025254/bit20240805_424b3.htm
Regardless, the underlying problem still remains:
21 Million of nothing = Nothing.︃
Bitcoin is backed up by: Nothing.
So 21 Million Bitcoins = Nothing.
The only thing︄ keeping it going is usage. When it is no longer used or something else︅ comes along, BTC goes to zero. BTC isn't the best technical coin, it was just︆ the first. This is the danger of speculating on cryptos. There is not one stock︇ on any stock market that has zero intrinsic value like this. The people should have︈ used it as a currency. It would still have faced the wrath of government power︉ grabs, but at least the dollar-worth of the BTC is not up in the air︊ with a long way down.
These are worth posting again and again. Hopefully more people will watch them with open mind. (actually, form a selfish perspective i dont care. 😉 )
The problem with discussions / debates / arguments is that sides become defensive and try to dig in deeper to prove the point. That makes understanding much more difficult, if not impossible.
The problem with discussions / debates / arguments is that sides become defensive and try to dig in deeper to prove the point. That makes understanding much more difficult, if not impossible.
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