Fiat-replacement tokens are a dead-end.
fixing the system doesn't equate to flooding it with more paper, it's a return to resource-based value.
The USD is at least backed by labour, the backing of BTC, ETH and the rest of POWs are wasted electricity.
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I tell /biz this regularly and they don't believe me, they never will. they continue to buy shitcoins like NANO and REQ payment type tokens expecting them to rise in value like digital gold (BTC) or smart contract gas (ETH). they will literally never learn society would collapse with a deflationary currency.
>digital gold
SoV is a pyramid, wake up
>they will literally never learn society would collapse with a deflationary currency
BASED
Why can't BTC just become a store of value ? We don't go around buying stuff with gold now do we ?
it has, effectively. it really is a better replacement for physical gold which is meaningless in today's society with paper gold and shitty pawn shops, china already produced fake gold in a lab by blasting something else with electrons and shit. the people still trying to make BTC a payment coin are delusional, the market is treating it as a store of value, solely.
because half of the ppl on here are economic illiterates, and have no idea how the world works
yes that is what I'm saying too. And BTC, ETH any POW is also a pyramid.
Real value comes from digging shit out of the ground, burning it or building with it. Real economic activity. The problem is society has become so socialized that the majority of 'professions' feed off of this economic activity and call it work, when the majority of it is just rent-seeking (i.e. HR, L&C..etc.)
But just 30 years ago the Swiss Franc was 40% backed by gold. You could have done so even with a credit card.
In regards to BTC, 17 million of it is mined already, most is in the hands of Chinese miners and early adopters, usually Silk Road types and the lot, maybe a few nerds. You can't build anything with BTC. You can't use it for anything except in relation to its dollar value. That is why it can't become a store of value. Because it simply isn't.
Physical gold has not become meaningless to the Chinese and Russians, as anyone who knows anything about global finance can let you know.
you faggots going to be sorry when IOTA shits on the muh blockchain and takes the entire industry.
>You can't build anything with BTC.
I can pay to register data in a ledger that will always be maintained.
The critical thing that gives gold value is that it lasts forever. I could try to store my wealth in corn but it would just decay. Similarly I could try to store records in the IOTA system but would just decay when the system is abandoned. Because of the way nerds work Bitcoin will never be abandoned, eventually it will look completely different from a technical perspective but the actual data on the ledger will still be there forever. At this point a nuclear apocalypse wouldn't stop it.