AggiEE said:
Heineken-Ashi said:
I've said this before.. but the power and compute is nonsense. Sunk costs. We don't value anything in the energy it took to create it. We value things in what someone is willing to buy it for. Hard stop. Bitcoin is no different, or else it wouldn't be so volatile.
Everything that has ever been traded has a bid and an ask. If we ever get to the point where BTC is all mined and the only game in town, there will be no ask. There would never be a reason to sell it. Which means there will never be any available to buy. Whatever your government has is what they will loan fractions of to the people to participate in society. And it would be a constantly deleveraging society. If we are going that route, we are going there with gold, not made up internet money.
That's precisely my point. There's no value to bitcoin other than to speculate that the price will go up.
If all bitcoin becomes fully mined, there is a reason to sell - that is to liquidate it for actual currency where you can buy actual things, with the idea that the price will go down in the future. The ask does not magically go away.
Just because there's limited supply to something that does not mean it has any actual value. Bitcoin is completely fictitious just like those that claim Fiat currency is, but at least Fiat currency has legitimate legal tender and is backed by military, how we are all compensated, and how most transactions flow.
To protect a world currency, you will need a world army governed by a world government.
that was is in the plans before Trump came along with his America First and stopping the consolidation of nations with their foreign wars.
