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'Fair Value of Bitcoin Is Still Zero,' Say European Central Bank Officials Gotta love how you link an article with a headline quoting people whose roles in society are directly threatened by the existence of bitcoin. Link some more articles by banks telling me how bitcoin is bad for society 😆

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I can say go to a dealership and tell them i believe the new 60k car i want has a fair price point of zero and list various reasons why. That doesn't mean the car magically now has zero value, and that they will just give it to me for free. It just makes me look ignorant and foolish.

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So some people ignorant of btc think the fair price is zero. Great. Well take a look my friend, the actual current price is 68k usd/90k cad etc. depending on the currency you compare it to, so it doesn't matter what ignorant people think because it's not a fact in reality.

You also completely ignored the previous post by Reid Walley explaining the exact same thing regarding different units of account around the world.

This comment is nonsensical. Try applying your same rationale to the usd before you make a post. Can you return usd to an algorithm? No. What does that even mean? Is everything priced in gold? No. Is gold considered money? Yes. Btc is legal tender in el-salvadore/things priced in btc. 🤦

How about you tell me, since whatever i say to you, you just repeat the same vague thing about context and ignore that 1$ buys less today than it did at any point in history. So please enlighten me as to the wages, income, living standards at the time, how it matters, and i will respond to that.

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Do all societies readily accept usd? No they don't. Stop trying to make it sound like exchanging/converting btc for a local currency to purchase things is any different. I go to india, i buy rupees. For japan/yen, china/yuan. Another pointless/poorly thought-out argument

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"Play money" in steady uptrend since inception 15 years ago. Fractions of a penny to 72k usd today. Now the 13th largest currency and 8th largest asset worldwide. Currently just under all-time high and you're saying the bubble is popping. How can one be expected to take this comment seriously? 😆

You admit here the "play money" is more valuable than $ as 1 play money = tens of thousands of $. How is that a burn? It's divisible to 8 decimals. Like cents to a $. Can buy fractions 0.00000001 play money = 1 satoshi It's backed by energy Usd also "unsupported by real currency, precious metals"

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Haha TY, I'm glad it is coming off that way as it is somewhat frustrating. It finally clicked for me that they both must feel that because things cost more in $ terms, it means $ are worth more. They don't seem to grasp the concept of purchasing power. Love your posts btw.

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You both seem to think $20 in 1949=$259.17 today means $ are worth more. It's the opposite. Does saying "an oz of gold in 1949 is like 12.95 oz of gold today" make sense? No. 1 oz gold = 1 oz gold 1$ = 1$ 1 btc = 1 btc What matters is how much each can purchase over time.

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Saying 20$ in 1949 would be like 259.17$ in today's dollars is a BAD thing and means the currency is LOSING purchasing power. Things cost more in $ terms now because the $ is becoming worthless. I don't know how many different ways i can explain this if you are intent on not wanting to understand.

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usinflationcalculator.com

Argument would collapse?!? Here is price of eggs over time. They cost less in 1980 than now due to inflation/monetary debasement/currency becoming worthless Eggs cost thousands of btc in 2010 now only fraction of btc = money appreciating over time www.usinflationcalculator.com/inflation/eg...

Egg Prices Adjusted for Inflation | US Inflation Calculator

In January, the average price of one dozen Grade A eggs was $2.522, representing a 0.6% increase from the December price of $2.507, data released Feb. 13, 2024, by the ...

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Now i think you are just trolling with a ridiculous statement like that. 1 btc = 1btc Just like if i were to tell you the value of a dollar in dollar terms 1$ = 1$ The concept is simple here. 1 btc buys more goods over time 1 $ buys less goods over time. Think about that for a little while.

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Blocked for responding to a so-called climate/energy activist/regulator of some kind who said capturing vented methane was a "bad use of power and energy"? So, a better use of unused, wasted methane gas is to let it pollute the atmosphere? Amazing how the bitcoin hate causes all logic to be lost.

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Capturing methane gas otherwise wasted and sent into the atmosphere or burned is a "bad use of power and energy"?!? You just said it's vented, meaning not used, correct? Am i missing something here?

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Btc just hit 72k and can buy way more today than it could in 2010. Can you tell me what the difference is in the context of the times between 2010 and 2024 such that this matters in the price valuation of bitcoin?

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Absolutely spectacular that you are making my point for me without understanding you are doing so, and thinking it's some kind of burn. You are showing that it takes way more dollars to buy the same amount of goods (monetary debasement) or A SOVEREIGN CURRENCY BY A SOVEREIGN NATION LOSING WORTH! 🤣

nadzap @nadzap.bsky.social · 10/03/2024

If you can compare the purchasing power of an oz of gold 75 years ago vs today. Why can't you do the same for a 20$ bill? What does "the context of the times" have to do with anything? Here is a graph of median home prices in gold vs dollar over time. pricedingold.com/us-home-pric...

pricedingold.com

US Home Prices

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What of it? Please explain.

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Reposted by nadzap

Reid Walley @reidwalley.bsky.social · 08/03/2024

What was the electricity industry like only 15 years after Edison’s first light bulb? How about the telephone, automobile, clothes washer, refrigeration, airplane, mobile phone, and Internet? Bitcoin is only 15 years old. You have a chance to build infrastructure, apps, and/or savings.

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"Okay, so somehow Bitcoin has been legitimized because institutional investors are getting in on it" -finance guy "A small subset of paranoid people are willing to exchange fiat currency for it" -finance guy So which is is?

So, finance guy, tell me what happens to price when an asset with a scarce supply meets voracious demand? Also, tell me what currency is the most used in the world for illicit activity? Hint: USD 😆 Volatility is what allows those who understand markets to make money. Finance guy lol

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I offered youtube because clearly you clearly lack the motivation to pick up a book to bother learning about money or economics. It also provides visuals that can help understanding concepts. I should have known youtube would be too much effort as well. Had to try, though 🤷‍♂️

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What underlying value does paper currency have? Why does it become worthless when hyperinflation occurs? Part of what gives btc it's value is the understanding that it won't be manipulated and will hold it's value. People don't have to TRUST central authorities, they can VERIFY the blockchain.

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Michael Paulauski♨️ @mike10010100.com · 03/03/2024

Btc is a digital asset with programmed scarcity and a form of money that is dentralized and can't be manipulated or debased by central authorities, a first in human history. Plenty of vids explaining it on youtube if you actually wanted to understand it.

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Reposted by nadzap

AI is not bitcoin, technology has become the enemy for so many people because they’ve become reflexively controlled by literal Twitter spam bots and blockchain hucksters. Here’s an example of why AI is not “idiocy”, and may actually help solve climate change!

engineering.princeton.edu

Princeton Engineering - Engineers use AI to wrangle fusion power for the grid

A Princeton-led team composed of engineers, physicists, and data scientists from the University and the Princeton Plasma Physics Laboratory (PPPL) have harnessed the power of artificial intelligence t...

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nadzap @nadzap.bsky.social · 02/03/2024

Bitcoin cash flow? Does gold have a cash flow? How about art? Collecting cards? Valuable artifacts? The way you are wording this could be said about literally anything a person buys and then sells at a profit.

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nadzap @nadzap.bsky.social · 02/03/2024

All transactions on btc blockchain can be seen. Not at all hidden. How does btc "make money from money" when no yield? It's an asset people hold to store wealth. It's value goes up as more people learn about it and understand its worth. Verifiable Portable Divisible Unconfiscatable Scarce P2P etc

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nadzap @nadzap.bsky.social · 02/03/2024

Avg fiat lifespan ~ 50 years. How is that working well? 1971 US defaulted, went off gold standard. Top 1% increasingly owns more than all the rest. See cantillon effect US debt 34 trillion! Depressions hurt but, if allowed to happen, clear unprofitable companies, allow competition/rejuvenate economy

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nadzap @nadzap.bsky.social · 01/03/2024

Not deflationary, disinflationary. There's a difference. Is inflationary-by-design currency working? Is rising prices/things being less affordable each year good? Is hyperinflation great? With a non-inflationary currency goods/services get cheaper over time as technology is deflationary.

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Btc worth fractions of a penny in 2010, 63k today. That's usd dying relative to btc. You can't buy groceries with gold and it's still considered money. You, of course, knew that already. It's a store of value (like btc). You sell it when you want to purchase something, like groceries.

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How many groceries does $20 usd (sovereign currency by sovereign nation) buy you today vs 75 years ago? Inflation = other name for currency debasement = currency losing worth. Currencies lose worth because they AREN'T tied to anything. See gold standard. MMT? Yikes! And btc is a scam? Lol ok

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Fiat will never dry up in a debt based fiat ponzi system. Currency is borrowed into existence hence the term "debt based" and why the fed maintains a stated 2% inflation target. Deflation is the destruction of currency and the death of the system.

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Bitcoin's Energy Usage Isn't a Problem. Here's Why.

Now consider energy used to manufacture coins/notes, secure/transport currency/gold, heat/cool/light banks, run/maintain servers, computers, atm's, pos terminals + all energy costs of industries adjacent/existing due to trad banking. I encourage you to dig deaper. www.lynalden.com/bitcoin-ener...

lynalden.com

Updated for 2023, this report is a deep dive on Bitcoin's energy usage and long-term scaling approach, with data tables and case studies.

nadzap @nadzap.bsky.social · 27/02/2024

Or maybe they have questioned the doctrine of a corrupt fiat standard and realized it is the source of a lot of the world's problems, and bitcoin is a way to opt out of that corrupt system. Sadly most calling bitcoin a cult just haven't bothered to learn anything about it and don't understand this.

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Reposted by nadzap

🌘 @silverlining.bsky.social · 24/01/2024

When you say "Bitcoin has no value", you are saying: 1. The lives of these 1800 African villagers have no value unherd.com/2024/01/the-... 🧵👇- Credit: @DSBatten on Twitter

unherd.com

The African village mining Bitcoin

The cryptocurrency can be a liberating force

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Reposted by nadzap

🌘 @silverlining.bsky.social · 24/01/2024

Feel free to skim through 17 uses of Bitcoin that don’t revolve around illicit financial flow or “ponzinomics”. You may be able to deconstruct and find flaws in some of these claims, but you sure as hell won’t for all of them.

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nadzap @nadzap.bsky.social · 19/02/2024

Unfortunately there is only so much time in the day to educate people.

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nadzap @nadzap.bsky.social · 18/02/2024

What is useful or not depends each person's needs. Inuit might not find a/c useful, unlike someone in tropics. Vice versa for a heater. It is useful to remember there are 8 billion people in the world, all with different ideas of what is useful.

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Have i complained about these things anywhere? Lol Is this projection?

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There was no mention of crypto, only btc. These are not the same. Btc was mentioned in the article, so not sure what you mean by "shuffled in". When responding to an article do you not discussed the subject matter in the article?

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Are there deadly heat waves 365 days in the year where you are from? If not, maybe you are just using ac for comfort to not sweat and be uncomfotable because you don't want to "deal with heat". Wouldn't that be more of a convenience than a need at that point?

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Bitcoin Ascends in Global Currency Rankings, Securing the 16th Spot in Market Capitalization

Clothes can't dry without dryers? How about clotheslines? Or too inconvenient? Those experiencing hyperinflation would say btc has protected their wealth and might think this more important than drying their clothes. 1st world citizens fail to see this perspective. medium.com/@ByTrade.io/...

medium.com

Bitcoin (BTC), formerly considered an unconventional digital asset, has now risen to become the 16th largest global currency based on…

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