Pfft, you spoiled kids with your full HD! Back when I was your age full HD meant you could fit 1.2 MB on a floppy disk.
The reason people invest in Bitcoin is solely that they hope it will someday reach hyperbitcoinization, or the mass adoption of Bitcoin for everyday use. At that point, someone who has a few Bitcoin would be a multi billionaire if you compare the value of all currency to the number of bitcoins. The instability of the price therefore is the intended purpose of the investment. If the real value of a bitcoin stayed the same for a long enough period, the market would likely collapse.
One thing with the whole discussion about mortgages is that it's sort of like the industrial revolution in the sense that it's all well and good to say you shouldn't use this thing, but you're competing in a marketplace with everyone else; if you take an hour to make something and they take a second you can't just sell your widget at 3000x the price and expect anyone to pay.
We live in a world with banking. Even for the people who are at the top end of the income curve, there simply isn't a reasonable option to own most homes without incurring debt. Because banking exists, leverage is a force multiplier that allows people who don't make a lot of money to spend quite a lot of money on certain things. That means that the price of certain things is simply higher than it would be otherwise, and there's nothing you can really do about that.
However, just because you can't throw out the concept entirely doesn't mean that you need to put a blindfold on and mindlessly jump off a cliff. You can run a phossy jaw factory that hurts people and the environment, or you can run your factory following good ethics and be a positive force for your customers, your employees, and your community. Likewise, you can take out the absolute maximum amount the bank is willing to give you and live with massive payments until the day you die and the house belongs to the bank, or you can choose to live within your means and buy less house than the bank says you can afford, so you plan to pay off your home from day 1 and in as short a time as possible and actually own the things you buy. From what I've seen, owning your own home in the clear is one of the most important things to being able to successfully retire.
Along the way though, you have to think for yourself because no one's going to do it for you.
We live in a world with banking. Even for the people who are at the top end of the income curve, there simply isn't a reasonable option to own most homes without incurring debt. Because banking exists, leverage is a force multiplier that allows people who don't make a lot of money to spend quite a lot of money on certain things. That means that the price of certain things is simply higher than it would be otherwise, and there's nothing you can really do about that.
However, just because you can't throw out the concept entirely doesn't mean that you need to put a blindfold on and mindlessly jump off a cliff. You can run a phossy jaw factory that hurts people and the environment, or you can run your factory following good ethics and be a positive force for your customers, your employees, and your community. Likewise, you can take out the absolute maximum amount the bank is willing to give you and live with massive payments until the day you die and the house belongs to the bank, or you can choose to live within your means and buy less house than the bank says you can afford, so you plan to pay off your home from day 1 and in as short a time as possible and actually own the things you buy. From what I've seen, owning your own home in the clear is one of the most important things to being able to successfully retire.
Along the way though, you have to think for yourself because no one's going to do it for you.
They don't even need to successfully ban cryptos, they just need to make it illegal to convert cryptos to fiat.
If they can take Dick Masterson's credit card privileges away for newproject2, I guarantee you they can take away coinbase's credit card privileges, and suddenly crypto is no longer a thing.
If they can take Dick Masterson's credit card privileges away for newproject2, I guarantee you they can take away coinbase's credit card privileges, and suddenly crypto is no longer a thing.
Couldn't you say that for literally anything? They could ban cryptos. They could bail-in your savings and they're gone. They could confiscate gold.
In my view, if you invested your savings in tax efficient vehicles like RRSPs (in Canada, equivalent to a 401k in the US I believe, but I don't know if you can use 401ks for what I'm about to talk about), then you can get a tax refund for holding the money, potentially get growth from the money greater than the 0.01% the savings account would give you, and you can cash it out at a lower tax rate in the event you need it.
A currency needs to do three things: it needs to be a store value, a unit of account, and a medium of exchange.
As a store of value, it's a pretty poor one. Something like 80% of people who invested in Bitcoin are underwater. From the peak, Bitcoin has lost half it's value even with it's latest gains, making it even worse than most of the world's Fiat currencies in terms of retaining value. It's extremely volatile regardless, so you could definitely make the argument that I'm cherry picking, but the fact is something that may go dramatically up or dramatically down at any time isn't a good store of value.
For the same reason, it's a terrible unit of account. How many bitcoins is your house worth? From day to day, week to week, month to month, year to year, that number is dramatically different. Therefore, the way that Bitcoin tends to be used where it is pretended to be used as a currency is something is priced in US dollars, and the person will use their local currency to purchase Bitcoin at the equivalent value, then the recipient will convert that Bitcoin into their local currency.
Finally, it's not a very good medium of exchange. If I go to the store and want to buy something with my Fiat currency, I either hand them the currency or I use my bank card and the money comes directly out of my account. If I go to the store and want to buy something with my bitcoin, for pretty much anything that I want to buy that's not an option. I have to sell my Bitcoin into the local currency and purchase what I want with the actual currency.
I'm not the only one saying this either. A number of people who are very much into cryptos have come out and said that Bitcoin is not a currency. Some crypto companies have gone in front of the US Congress under oath and said that Bitcoin is not a currency. It's an investment vehicle, it's a property, but it isn't a currency.
In that sense, holding Bitcoin isn't savings, so investing in it with the hope to beat inflation isn't savings, it's just a other asset class in an investment portfolio, and having your money in that investment portfolio is my point.
As a store of value, it's a pretty poor one. Something like 80% of people who invested in Bitcoin are underwater. From the peak, Bitcoin has lost half it's value even with it's latest gains, making it even worse than most of the world's Fiat currencies in terms of retaining value. It's extremely volatile regardless, so you could definitely make the argument that I'm cherry picking, but the fact is something that may go dramatically up or dramatically down at any time isn't a good store of value.
For the same reason, it's a terrible unit of account. How many bitcoins is your house worth? From day to day, week to week, month to month, year to year, that number is dramatically different. Therefore, the way that Bitcoin tends to be used where it is pretended to be used as a currency is something is priced in US dollars, and the person will use their local currency to purchase Bitcoin at the equivalent value, then the recipient will convert that Bitcoin into their local currency.
Finally, it's not a very good medium of exchange. If I go to the store and want to buy something with my Fiat currency, I either hand them the currency or I use my bank card and the money comes directly out of my account. If I go to the store and want to buy something with my bitcoin, for pretty much anything that I want to buy that's not an option. I have to sell my Bitcoin into the local currency and purchase what I want with the actual currency.
I'm not the only one saying this either. A number of people who are very much into cryptos have come out and said that Bitcoin is not a currency. Some crypto companies have gone in front of the US Congress under oath and said that Bitcoin is not a currency. It's an investment vehicle, it's a property, but it isn't a currency.
In that sense, holding Bitcoin isn't savings, so investing in it with the hope to beat inflation isn't savings, it's just a other asset class in an investment portfolio, and having your money in that investment portfolio is my point.
Which currency resists inflation? Virtually every one I'm aware of has been marching in lockstep towards valuelessness
Lmfao they are completely not ready for another reichstag fire. They don't have the infrastructure in place to delete evidence quickly, they don't have the infrastructure in place to entrap their political enemies, and they're just aren't enough jail cells to hold all 60 million of them.
I'm sure you're just joking, but I don't understand why anyone has savings. With inflation on the menu, having cash just doesn't make any sense.
I saw a post a couple days ago by a leftist, excitedly chattering about how the latest budget proposal is going to dramatically raise taxes on the rich.
These people need to understand how politics work. The reason that that budget was put forward this year and not last year is that last year it stood a chance of passing. Meanwhile, the richest people on the face of the Earth get bailed out with money intended to protect the little guy.
These people need to understand how politics work. The reason that that budget was put forward this year and not last year is that last year it stood a chance of passing. Meanwhile, the richest people on the face of the Earth get bailed out with money intended to protect the little guy.
With media in general controlled by adverse parties, there's a lot of bad lessons being taught to men and women.
You can take your wooden sword and swing it 6,000 times per day for 10 years, but it won't help you get a single question right on a calculus exam!
Meanwhile, nobody on earth can pass a calculus exam having never learned numbers. Studying for the exam isn't evil, and nobody will pass the exam because they're just inherently good.
Yet we teach women to pursue self-improvement that's meaningless for their goals, and we teach women that they're already good enough and they don't need to change themselves at all anyway, and we teach men that their worth is set from birth and that improving themselves is evil.
Then you get stuff like this thread is about because they do want better than the losers they find themselves around, but the problem is that by demanding unrealistic men, you'll get one in a million supermen, and 999,999 liars.
You can take your wooden sword and swing it 6,000 times per day for 10 years, but it won't help you get a single question right on a calculus exam!
Meanwhile, nobody on earth can pass a calculus exam having never learned numbers. Studying for the exam isn't evil, and nobody will pass the exam because they're just inherently good.
Yet we teach women to pursue self-improvement that's meaningless for their goals, and we teach women that they're already good enough and they don't need to change themselves at all anyway, and we teach men that their worth is set from birth and that improving themselves is evil.
Then you get stuff like this thread is about because they do want better than the losers they find themselves around, but the problem is that by demanding unrealistic men, you'll get one in a million supermen, and 999,999 liars.
If he did then he would have proposed this budget last year when it could pass.
His entire party is a fraud. Handing trillions to the world's richest people while pretending to do shit like this with his other hand.
His entire party is a fraud. Handing trillions to the world's richest people while pretending to do shit like this with his other hand.
I'm running it locally, and some of the stuff it comes up with is impressively silly.
You're right that being able to run anything remotely similar to the big product on local hardware is a big deal.
You're right that being able to run anything remotely similar to the big product on local hardware is a big deal.
I ain't one of them big city doctors, but it seems to me that China has a larger population than the United States.
Nerding out here for a minute, but one specific type of isekai that I see in Korean and Chinese stories is where the main character goes back in time to an earlier time and uses their knowledge of the future to do better this time around. (Arguably it isn't isekai but that doesn't matter for what I'm about to talk about)
I can't help but think that this type of story reminds me a lot of being a parent. You've already lived through a good chunk of life, so you already know where some of the pitfalls are, and so you're trying to help someone who's a lot like you do better this run around.
I can't help but think that this type of story reminds me a lot of being a parent. You've already lived through a good chunk of life, so you already know where some of the pitfalls are, and so you're trying to help someone who's a lot like you do better this run around.