Every argument I've had with Bitcoin hodlers in a nutshell
Posted Feb 27, 2021, 3:03 AM UTC
6162
just hope they don't get hit with EMP weapon. then they fkd
7
There is a quote going around that "People in college are smart enough to absorb what they are taught, but not smart enough to question what they are taught". Asking them questions can be frustrating.
7
I'm staying out of it. Somebody told me it was a store of electricity and I brightened.
"It's a battery!" No. "A Capacitor?" No. So now it is like Knight Templar's bearer bonds. I kind of get that.
4
"But Brawndo's got what plants crave. It's got electrolytes."
3
I have compared the qualities of Bitcoin and precious metals here: https://gold-research.weebly.com/metals-vs-bitcoin-battle.html
Bitcoin fans, im ready to fight! Bring your best arguments, c,mon !
3
Are you saying a payment network doesn’t have value?
2
Yes
1
Same argument can be applied to people who hold silver and gold bullion.
1†
Gold and silver are physical commodities that have value unto itself as a result of their physical properties - they would still be desired even if their paper value dropped to zero.
I like shiny things. Is bitcoin shiny?
17
[deleted]
0†
An mp3 for a DJ possesses value because it can be played for audiences to physically hear - its current market price is irrelevant or secondary. Bitcoin is like an .mp3 you can't listen to, or enjoy. "What good is a mp3 that I can't hear?" "Well, it's worth 48 thou right now." "Oh snap, I'll take it."
Bitcoin can't be used for any other purpose other than to simply sell to a greater fool. Bitcoin has no real world utility outside of the being passed around.
For sake of contrast, btc is a digital equivalent of real estate.
No it isn't. A digital equivalent of real estate would be to tokenize real estate, creating a crypto-currency backed by real assets. Say you own 100 acres of real estate, and decide to create 100 REC's, real estate coins, each coin representing a stake in 1 acre of land. The value of the REC would not be the coin itself, but the asset/commodity backing it. Now let's say I try to con investors by keeping my real estate, and try convincing people into believing that the REC itself is valuable irrespective of the real estate because of "network", and "code", and "scarcity - there's only 100 of them!" and all kinds of gobbledegook. It might work temporarily, but eventually the jig will be up.
6
[deleted]
1
[deleted]
1
but your argument is bullshit since the india smuggler can also buy cryptos backed by physical gold instead of btc. Or polkadot. Or ontology. Or 666 other cryptos.
4
[deleted]
1
Understood but they provide no utility to the holder of bullion
-1
Silver and gold at least have some inherent value as a tangible functional commodity. Both of them are highly conductive metals that dont corrode when exposed to foreign contaminants. In fact, without silver and gold bitcoin wouldnt exist because the devices needed to create it wouldnt function.
7
Understood but note I specified people who hold bullion
1
The value is in the material itself regardless of its form. All silver and gold is in bullion form at some point. They dont refine silver ore directly into wires and semiconductor components. They get refined into bars and then made into whatever component they are destined to be.
5
Silver has physical properties that other metals don't have. So does gold but to a lesser extent.
6
ies that other metals don't have. So does gold but to a lesser extent.
Gold has greater physical qualities than silver (chemically inert, does not corrode, does not oxidize) but is cost prohibitive to roll out to scale.
6
I’m aware, but those provide no utility to the holder of bullion
0
Right. But that's what gives it value.
Bitcoin has value merely because other people value it.
Silver has properties that make it very useful. It is useful in and of itself. This end use value does not exist with Bitcoin.
3
So you’re saying by holding the metal that only has value to other people that’s what gives it value to them. But when people hold bitcoin because it has value to other people that makes no sense?
1
That doesn’t matter because you can exchange it. It still gives the gold intrinsic value.
2
I can exchange bitcoin just the same
1
Over 60% of silver’s value is found in industry. I hate to say it, but that’s a bit of a false equivalency.
3
Note I said people who hold bullion
0
That doesn’t make any sense. Silver is silver.
4
Understood but it has no actual utility to the holder in bullion form.
1
If bitchcoin were to disappear nothing of value would be lost.
3
I disagree. A decentralized store of value with a limited supply which can never be inflated over which no government has control over that enables one to be ones own bank would be lost to the world. It’s a very ethereal concept for certain but there is value inherently within that concept and the value it provides to users and holder of it.
1
The world managed to get this far without BTC. Limited supply of what, exactly? Implied scarcity of a non-tangible secret number is not a fundamental metric of value. Number go up is because it’s tied to inflated fiat. Government controls everything and Central Banks do not support bitcoin as it competes with their digital currency objectives.
2
You are correct but sadly many silver folks don't see it that way... the two groups have a lot in common and shouldn't be so divided.
2
What I’m trying to push toward. I believe in both. I hold both. Diversification is doing yourself a favor.
2
An actual retard ladies and gentlemen
1
Nope, you are ignoring intrinsic value.
1
I’m not ignoring it, only pointing out that said intrinsic value for its industrial properties doesn’t provide any actual utility to the holder of physical silver bullion as an investment vehicle.
Don’t get me wrong I am a long time stacker of silver, but I’m also not blind to the value and utility of crypto.
1
Aye!
1
It’s super easy to keep safe. You can send it anywhere. N. Korea, Iran, doesn’t matter. It’s not perfect but it is useful.
1
Every argument you have had so far...
1
Learn what blockchain actually is, then if you don't understand, repeat the first part, because if you understand it then you won't ask what it's value is. BTC is in fact trash though.
1
Sometimes btc hodlers add tge argument there will never be more than 21 million. But than I ask thats also true for bch. So why is btc 50k and bch 500 I ask them? They become quiet...
1
Yeah the same goes for the US Dollar, British Pound , the Euro and should I go on?
0
People say Bitcoin has store of value because of its finite supply but since it’s man made it can be replicated; hence 1000’s of other coins trying to replicate the success. That’s what makes PMs unique; can’t be replicated.
Exactly! I was trying to explain to others that if ethereum is better than bitcoin, why does bitcoin still have value? And I got downvoted into the abyss...
Gold can be manufactured. We know how. Only a matter of time until the process is perfected and scaled. some info.