Indeed…
With the potential rate cut in September, perfect set up, I presume ButtCoin will hit 100K🐾
@Humpleupagus @neanderthalsnavel
Exactly…..
@neanderthalsnavel @Humpleupagus
Exactly…
If someone wants Buttcoin then this is what I'll give…👇
👇
“A little bit of internet money + Some hard liquor" 👈👈
I mean.... I don't regularly think "I have $100 in my wallet, that's worth X Yen."
The fact it's so regularly pinned to another currency is a clear indication that it has failed as an intrinsic currency.
@Humpleupagus @neanderthalsnavel
I say this..
“Guess who's back, back again ButtCoin’s back, tell a friend... da da da da…”
“I've created a monster, 'cause nobody wants to see Fiat no more they want ButtCoin, I'm chopped liver”😁
It's not like a company because it earns nothing, but it's also not like a company because powerful people can't just sue it to death, regulate it out of existence, or send a mob enforcer to burn it to the ground.
In a good world, you always want your money to be invested in things that produce maximum value, and you would invest like Warren Buffett.
We don't live in a good world, we live in a world where politicians print money and manipulate markets. If you invest like Warren Buffett you will perform worse than the market, because The Market has been turned into a Tech Buzzword Casino.
The foundational thesis of crypto is "I reject your definition of value, I value this instead". And again, in a good world, this would be kind of a niche thing and wouldn't have much price appreciation.
But we don't live in a good world, so this idea of opting out of has gotten a lot of traction, and we've ended up with a "stampede" of value moving into these assets which has driven a "crazy" price rise.
Of course there is a downstream cohort which doesn't have any idea of why they might want to buy crypto, they're just chasing green candles, but this is true of everything.
@cjd @Humpleupagus @neanderthalsnavel
“ It's not like a company because it earns nothing.", it's truly true.
Its dividends don't come from productive activities.
"What it represents is a transferable store of value", a good remark, then I might ask the transferability, how good is the transferability of, say, Bitcoin?
Transfer of other things is pretty much always mediated by a custodian, which means there's someone out there holding and protecting the underlying asset - and then you have to pay for that protection.
Either you're paying a vaulting fee, property tax, or such up front, or you're holding an asset like dollars where the protection fee is pulled out of the value of the asset by printing.
Arguably bitcoin is in the second category because "happened before" relationship of transactions is protected by mining, but that fee is lower and more predictable than it is with dollars, which get printed for any old reason, subject to the whim of politicians.
@cjd @Humpleupagus @neanderthalsnavel
I see your point, and even crypto skeptic Trump changed his mind, it seems.
ButtCoin CAN POSSIBLY OVERTAKE THE MARKET CAP OF GOLD - ButtCoin Cheerleader TRUMP
@KK954 @Humpleupagus @neanderthalsnavel @cjd
A HUGE PROBLEM……, even though it can shoot the moon before the election.
@cjd @Humpleupagus @KK954 @neanderthalsnavel
😁 well….., what shall we do…., 💎 🥈 🥉?
The dollar bleeds every time congress meets.
@KK954 @Humpleupagus @neanderthalsnavel @cjd
Truly Brilliant 👍😁
lol great plan, whats your general region? and what calibers are you holding?
@bobbala @Humpleupagus @KK954 @neanderthalsnavel @cjd
I admire you Head 👍💥💯
* Kill and butcher a deer
* Fix a motor bike
* Forage and cook edible plants
* Take solar cells and power tool batteries and re-assembly them to re-power 2 way radios
etc.
Gold will NOT keep you alive, it will be taken.
Gold also doesn't make sense if the government is doing just great because, well, you should be invested in things that make value!
Gold makes sense in some kind of twilight moment of dysfunction, but in these moments, but in these moments crypto makes more sense, so IMO gold is kind of outdated.
@smokescreen @Humpleupagus @neanderthalsnavel
Mining…, unnecessary activity perhaps?
@cjd @Humpleupagus @bobbala @KK954 @neanderthalsnavel
👍
I say we must fix the system along with social security😁
@brokeassredneck @Humpleupagus @bobbala @KK954 @neanderthalsnavel @cjd
Would you agree to that if crypto is compulsory?
@stoner713 @Humpleupagus @bobbala @KK954 @neanderthalsnavel @cjd @brokeassredneck
😁👍 it’s maddeningly real!
Then the hard-skills come into use, in rebuilding.
@NoDoxGregBrady @Humpleupagus @bobbala @KK954 @neanderthalsnavel @cjd
I admire your head😁
Everyone thinks about this Mad Max, return to the stone age total collapse, but in all of the wars that happened around the world, this scenario has never happened.
What actually happens is things become the same, but shittier.
Things like fuel, electricity and internet don't become unavailable, they become expensive and limited to certain places and times. But when and where there is electricity, everyone goes to charge their phones, and when and where there is cell service, everyone goes to send messages to their family and get news updates.
People never rush adopt precious metals as a medium of exchange (they also don't rush to adopt crypto). They use local paper currency or if the local currency is completely debased, they may use dollars or euros. People stick with whatever has the lowest friction of adoption, when everything is upside-down is NOT a time that anyone is thinking about new ideas for money.
For large purchases like a car, or (say) paying to be smuggled out of the country, sellers tend to accept bitcoin because they know nobody has that much cash on hand. But it's already like that: If you're buying a yacht or a supercar, dealers typically accept bitcoin because you're not the first person who asked to pay in it.
@Twig
Most likely, but you never know.
@cjd @Humpleupagus @neanderthalsnavel
@HSTG @cjd @Humpleupagus @neanderthalsnavel
😁 yesy…, just for now….
I tend to think that the places that will be hardest hit in an apocalypse scenario will be the ones that can't actually sustain themselves. Mortality rates in overpopulated regions will be astronomical since there won't be anything nearby to deal with all of the people to feed. For parallel to that, you can look at the Harappan civilization, also known as the Indus valley Civilization which collapsed leaving basically nothing. That occurred in part because of changes to the climate and also degradation of the soil. There seem to be evidence of the Harappan civilization in the stories of Hindu, which does suggest that somebody made it out alive, as far as I know even today that region is barren and unpopulated.
I don't think we can make predictions as to which currency might be in use. Over the past 8000 years gold has been something that kept its value, but many things that were also considered valuable stopped being valuable. My favorite example is aluminum which was once a precious metal more valuable than gold and today we make disposable drink containers out of it. I tend to think that the Internet functioning to the extent cryptos would need it to is likely a bit aspirational even in a mild collapse scenario as international infrastructure would be the first thing to stop working, since regional conflicts would likely not desire a global network to allow tactical and strategic information to sieve through.
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