The US Dollar has a large network effect, aka popularity. The Zimbabwe Dollar does not. Yes, that is the difference in value - the network of people who will accept it as money. They are fundamentally the same technology, the difference in value is the network.
Right, but the dollar is popular for a good reason: because it is the global reserve currency issued by the most powerful government on the planet. Bitcoin is popular
only because people have a delusional belief that it will continue to appreciate in value forever, simply because "there are only 21 million of them!" But the fact that only 21 million worthless internet tokens called Bitcoins exist
does not make them inherently valuable, and at some point reality will assert itself and this will become painfully apparent.
Desperate governments trying to survive by printing money exponentially faster, enacting unrealized capital gains taxes, un-banking dissenters, and censoring the internet? I think bitcoin, keet, and nostr, will be very popular.
Again, you guys seem to have a severe difficulty in understanding the fact that just because the USD and other fiat currencies have weaknesses,
that does not make Bitcoin inherently valuable. Bitcoin is not suddenly an amazing asset or a great currency just because the dollar is being inflated. It's still a worthless internet token whose
only value is based on the false popular perception of unlimited future appreciation. You're participating in a self-inflicted, decentralized Ponzi scheme that your greed, hubris and delusion have hoodwinked you into believing is a revolutionary technology.
What's your thoughts on Monero? It solved all the issues with Bitcoin and the Monero community doesn't worship it like a god. It's actually the most actively used cryptocurrency in real life. I can understand you being you being anti-Bitcoin, but surely you can't be anti-Monero?
This is what's really funny to me. Because Monero is actually much closer to being the ideal asset/currency that chance vought and Blade Runner continually promote Bitcoin as being. With Monero you actually have privacy, and it's functional as a currency. People actually USE IT to buy things, and don't hoard it in anticipation of future appreciation. No one is sitting around writing kooky pseudo-religious books about how Monero is going to liberate mankind from the slavery of governments and eliminate wars. They just use it to buy stuff.
So no, I don't have a problem with Monero. I think it's kind of cool, actually. I would use it myself if I had reason to (currently, I don't). As I've said before, I also really don't have a problem with shitcoins and all the ridiculous speculation people do with them. Most people in that arena seem to understand they are gambling on moonshots and basically trying to rug pull and scam one another. Caveat emptor. People involved with shitcoins know what they're getting in to and generally deserve what they get (either a low probability big payday or, more likely, losing most of their money).
My problem is Bitcoin and all of the nonsense that goes along with it. It's literally become something akin to a religion for many people, as we see here in this very thread. It's basically a cult at this point, which can only survive by preaching and continually bringing in new members to buy and HODL to keep the price appreciation going. This is why Bitcoin maxis come across as both delusional and zealous. They've invested not only their money, but their faith and ego in Bitcoin. It's become everything to them, so they will basically defend it to the death. They're going to learn some very, very painful lessons sooner or later about the limits of their own understanding, the enormous trouble that hubris can get you into, and the difference between an asset with inherent value and a Ponzi asset.
