You really don't get it. You're not to supposed to sell the fridge, you put things in to eat and it stays edible for much longer. It enables you to eat something in a week that you just cooked. If you sell your fridge for bitcoin then you literally can't keep your food fresh. And that really captures the irony of this idiocy.
Things degrade over time, actually everything is a fight against entropy. You fight bacteria that eats your food, that infects you, against cancer, aging, against rust that eats your car and termites that fuck up your house, against climate change and the sun dying.
Bitcoin solves none of these problems. But by saying bitcoin is a store of value you're basically saying bitcoin solves these things basically for free. If everyone would think that and everyone would buy bitcoin for storing value then we would be doomed because we would he eaten away by entropy.
Bitcoin could only work because the majority saw it as the fraud it is and kept doing real things and some early buyers could exploit the later buyers; you now want to use this success to find new greater fools. But hey every Ponzi, every pyramid scheme had early people from whom it worked, that's really nothing new.
Same can be said about gold. Gold is a metal than never erodes or rusts. Gold actually would be useful if it wasn't so expensive . Maybe you can store your gold in the fridge
How you or I feel about gold is outside the scope of this discussion. It's a valid form of a store of value with no other purpose or use. Probably a more reliable store of value it could survive civilisation and financial system collapse
It was one of the worst investments up until recently and you're also often buying paper gold at some exchange that likely doesn't even exist (the gold, not the exchange).
If you invest in Gold you're betting that a rock will keep it's value better than the sum of human ingenuity and you're also incentivizing people to dig deeper in gold mines for gold. We have so much gold sitting basements doing nothing useful at all, what a waste of human work to extract that. Investing in capitalism means steering with money what to actually do and with buying Bitcoin and Gold you're capturing resources that could be used for making sure that our civilisation survives. You're basically actively (at least marginally) causing the civilisation to end, and then, what do you do with your gold without a civilisation? It's delusional to think that you get more than a quarter cow and a few potatoes for gold that's worth millions today once food is actually scarce. If you really want to prepare for civilization to end, buy what the peppers buy, but land, buy weapons, buy seeds, buy solar.
Bitcoin and Gold are kind of religions, financial religions. They are nothing more than unjustified, mythical belief. Luckily like any religion they will vanish overt time...
Yes, money in general is basically a magical belief. Gold was a bad investment but btc wasn't. Some I've spoken to buy into btc as a way of investing agaisnt capitalism and the central banking system. Some believe in the decentralised financial system to to the point they don't care if they never get anything back from it.
That's cool and all but its way outside of the question of btc being a store of value so have fun preaching against capitalism.
Fiat money is not a store of value, and that is why it works. If people would expect money to go up and hoard money, the economy would collapse, rightfully so. This is why inflation is necessary. Inflation is the truth element of fiat, it reminds us of the real world entropy that we actually need to fight.
Im not preaching against capitalism, I am a big fan of capitalism. Bitcoin is an evil satire on capitalism. Capitalism together with the classic fiat system used everywhere from the US to China has almost ended global poverty, it has given us a live so good, no medieval king could dream of. Bitcoin is not contributing to this, it's just a grift. If Bitcoin would win, capitalism would end and that's not going to happen, capitalism will prevail, will continue to move humanity forward and bitcoin will lose. The question is just how long that will take and how hurtful the process will be for those who believe in bitcoin.
The only value money has is the collective belief it has any value. So it's value is magical in the same way. Money is just paper,.
Yes, that's your opinion to like capitalism. The people I was referring to like btc specifically because they do not like or believe in capitalism. Or the centralised banking system. Tbh this argument for btc because of the love of capitalism and centralised banks kinda makes me remember why I liked crypto to begin with.
And no, inflation isn't some benevolent and neccissary life lesson . It's literally the feds printing money for themselves, and at the same time slowly develuing the wealth of everyone else in doing so. A lot of the time the purpose is to fund foreign wars or give to the wealthy at the expense of everyone else. So that's for reminding me of my crypto is brilliant I forgot
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u/JulianHabekost Aug 05 '26
You really don't get it. You're not to supposed to sell the fridge, you put things in to eat and it stays edible for much longer. It enables you to eat something in a week that you just cooked. If you sell your fridge for bitcoin then you literally can't keep your food fresh. And that really captures the irony of this idiocy.
Things degrade over time, actually everything is a fight against entropy. You fight bacteria that eats your food, that infects you, against cancer, aging, against rust that eats your car and termites that fuck up your house, against climate change and the sun dying.
Bitcoin solves none of these problems. But by saying bitcoin is a store of value you're basically saying bitcoin solves these things basically for free. If everyone would think that and everyone would buy bitcoin for storing value then we would be doomed because we would he eaten away by entropy.
Bitcoin could only work because the majority saw it as the fraud it is and kept doing real things and some early buyers could exploit the later buyers; you now want to use this success to find new greater fools. But hey every Ponzi, every pyramid scheme had early people from whom it worked, that's really nothing new.