How am I supposed to know? What kind of question is that? All I can tell you is that by its very design, Bitcoin is literally no different than a stock or bond which is guaranteed to never pay any dividend/coupon to its owner. It is therefore only able to create a return for its owner by being sold to another party. By definition this renders it a completely speculative asset, as it cannot generate any return in and of itself.
It isn’t an investment. It is money. People stuck in fiat land are desperate for returns, to beat inflation. Bitcoin has inflation trending to 0.
The question is not Bitcoin versus fiat, it's Bitcoin versus proven assets like stocks and real estate.
It is Bitcoin vs value itself. Fiat, stocks, bonds, real estate. All of monetary premium that these things have accrued (stocks at PE of 50+), will be swallowed by the black hole of Bitcoin.
The very reason these things attract investment is because they are inherently valuable and create a return for their owners. Even in an inflationary environment, over time these assets will hold their value. Bitcoin, in contrast, cannot provide its owner any direct return on investment, and must be sold to another sucker in the future. This is why Bitcoin proponents are so zealous about evangelizing for it - their return on investment can only be secured by encouraging new people to buy in.
The function of money is not “for selling to another sucker”, without it civilization is not possible.
Point out exactly where I've been "intellectually dishonest". Everything I've said about Bitcoin is factually true, especially in regard to its value being completely untethered from anything except the stubborn delusions of its hodlers and its brand name.
Value comes from individuals, not some exterior, quantifiable measurement. People decide what is valuable, and
individuals value different things. The net measurement of value is the price. The relative value of one money over another, is how well it serves the role of money.
Recommended reading:
https://www.goodreads.com/book/show...arch=true&from_srp=true&qid=tNPv0P4QX5&rank=1
Important properties:
1. A large network. The more people that use it as money, the more useful/valuable it is.
2. Cost of production: If it is expensive to create more money, it will hold its value (gold vs copper, for example)
3. Transaction cost, security, divisibility, etc.
It is thoroughly dishonest to claim that the price of gold is collapsing because you're currently measuring it in Bitcoins rather than USD. Funnily enough, I didn't see you measuring the price of gold in Bitcoins a few years ago after the price tanked.
Gold surged against Bitcoin
for a 12 month period, and is now continuing its downward trend. Bitcoin has collapsed 100 times, but the trend is in one direction.
Measuring in Fiat is a lie. The USD is less of a lie than the Egyptian pound, or Argentine peso, but it is still dishonest weights and measures.
This is utterly absurd. We already have more than enough incentive to ensure that the grid never goes down considering that electricity powers our entire modern civilization, and that without it somewhere between 80-90% of our population would be dead within a year.
I agree, but there are vulnerabilities that government has no incentive to fix.
We do not need BTC to prevent grid collapse whatsoever. The reality is that Bitcoin mining is a complete and utter waste of electricity,
This is nonsense. Who are you to decide what is a waste of electricity?
People value different things. Bitcoin mining
is not wasteful to the people using electricity to do it, or they wouldn’t be buying electricity. Nor is it wasteful to the users of Bitcoin.
a fact which I believe will attract more scrutiny in the future from both the climate zealots (unjustified) and what I believe will be a near-exponential growth in demand for computing power due to widespread commercial and industrial adoption of AI. And unlike Bitcoin, AI actually creates value and performs meaningful work for society.
Yes, there are already government bootlickers trying to tax and penalize Bitcoin miners to protect their own industries. Luckily Bitcoin miners have enough money to fight back.
Riot and the Texas Blockchain Council have been granted a temporary restraining order against the EIA and Department of Energy.
www.tftc.io
If AI industry want electricity, let them buy it on the free market like everyone else has to.
As far as creating value: we can’t have civilization without money.
There is a chance that I’m completely wrong, I accept that. Are you 100% sure that Bitcoin is worthless? If only 99% sure, maybe you should have a 1% allocation to BTC!