choke_this on Nostr: Why does Bitcoin go down. It is monetizing. Some people have knowledge, and some ...
Why does Bitcoin go down. It is monetizing. Some people have knowledge, and some don’t. Information asymmetry. If Bitcoin never went down - it would never distribute to more people. If someone had never sold 2 pizzas for 10,000 bitcoin, how could it distribute to millions of people world wide?
You talk about civilization ending events like an EMP…do you think your physical assets remain in your possession in that scenario? I hope you are well armed, well trained, and have a large network of such people handy, but even then…good luck with holding on to your physical property.
Bartering value for value. A myth, made up by people who have never bartered. Ever been to a gun show? I’ve been to a lot - some sellers advertise “buy sell trade”, but in all my years I have NEVER done or seen a trade. The person that has the gun for trade invariably does not want to trade for the gun you have — EVEN THOUGH THESE ARE ALL SIMILAR DEVICES, and everyone there is looking for a gun!…now imagine trading different types of things — what are the chances that you and the other person have something that the other wants…0.0000% Without money, civilization cannot exist.
In order to understand bitcoin, you cannot approach it from a technology standpoint. You must first understand what money is — how it came to be, the history of it, and how, as a technology it is as important as mathematics and language, perhaps even more so. The Bitcoin Standard, by Saifdean Ammous, it’s more a primer on Austrian Econ than about Bitcoin, and will give you the essential foundation of understanding first what money is, then explaining why bitcoin will destroy all other money, just as gold destroyed all other ancient money.
You talk about civilization ending events like an EMP…do you think your physical assets remain in your possession in that scenario? I hope you are well armed, well trained, and have a large network of such people handy, but even then…good luck with holding on to your physical property.
Bartering value for value. A myth, made up by people who have never bartered. Ever been to a gun show? I’ve been to a lot - some sellers advertise “buy sell trade”, but in all my years I have NEVER done or seen a trade. The person that has the gun for trade invariably does not want to trade for the gun you have — EVEN THOUGH THESE ARE ALL SIMILAR DEVICES, and everyone there is looking for a gun!…now imagine trading different types of things — what are the chances that you and the other person have something that the other wants…0.0000% Without money, civilization cannot exist.
In order to understand bitcoin, you cannot approach it from a technology standpoint. You must first understand what money is — how it came to be, the history of it, and how, as a technology it is as important as mathematics and language, perhaps even more so. The Bitcoin Standard, by Saifdean Ammous, it’s more a primer on Austrian Econ than about Bitcoin, and will give you the essential foundation of understanding first what money is, then explaining why bitcoin will destroy all other money, just as gold destroyed all other ancient money.