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Gold exists.
Bitcoin is only a thing if everyone believes in it.
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Gold exists.
USD is only a thing if everyone believes in it.
P.S. Not everyone believes in Bitcoin, but it's a thing. Similarly, not everyone believes in AAPL, TSLA, or USD.
People believe in USD because the US military and US historic economic dominance.
People believe in BTC because math. Cryptographically provable immutability, scarcity and ownership.
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My bookstore exists.
Amazon is only a thing if everyone believes in it.
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Imagine having the opportunity to own an 'internet coin' or a 'phone coin' where you had some ownership of the future layer of massive societal interaction.
You do. You can think of it as 'currency coin' or 'value coin' or 'finance coin.' It's called bitcoin.
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Originally Posted by Stoofers
Company 1: "Hey guys, here's a really slow modem that you can make faster by purchasing another add-on which of course means there's another point of failure"
Company 2: "Hey guys, here's a really fast modem that works out of the box"
Tough decision
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Speed = wealth
Company 1: "Our modem makes your internet speed faster year-on-year."
Company 2: "Our modem makes your internet speed slower year-on-year. We target 2%, but sometimes it's 5% or more slower than the previous year."
Tough decision. Doesn't matter though, "this internet thing is a big sham." "It will be banned in every first world country." "It's too slow." "There is no content." "TV is more interesting." "Only nerds use it."
History doesn't repeat, but it sure does rhyme.
Shocking how blind people are.
- Try sending $1B in fiat currency. Think you can do it in 10 minutes? Hahaha, welcome to the modern banking system -- oh, and we're not open on weekends, lol.
- How often does a billionaire want to wire millions of dollars? When they do, do they need it to be done faster than 10 minutes?
- Hold your wealth in bitcoin, convert into USD every week or month for your daily spending money. Is this so hard to understand?
I've lived many years abroad. Anyone with any kind of wealth in their home country will keep the majority of their wealth there and pull out what they need in the foreign country they live in. This isn't a new concept.
I'd rather hold USD than Brazilian real or RMB, but I'll convert some if I need the cash while living abroad.
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No coin without a hard cap on set total quantity will ever be goodcoin.
Thats for sure.
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Facts. Ethereum and many other coins are just that. Ethereum is interesting and they brought in some great tech the rest of the blockchain world is starting to use, but it sucks as a currency or store of value. No supply limit and moving to proof-of-stake. It'll be status quo monetary policy but on the blockchain.