Bitcoin and everything associated with it. The home of cryptomaniacs and their adversaries. - page 5
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Andrei, what Mishek is trying to say is that money is an objective reality with its many properties regardless of your desires.
And to pick out of them only the way of formation - by a central bank - as a unified main property is utopia to replace bitcoins.
He is correct - money has many other properties - enrichment, accumulation, exchange, emotion, theft, sawing, etc. with its own history, habits and evolution of development.
No one is saying that cryptocurrencies are evil, money is inherently all evil. Because some have more of it and some have less of it. They are a consequence of inequality.
Once upon a time the ideas of "time bank" were popular. Maybe in many countries they are still functioning successfully.
Once upon a time the ideas of decentralisation of currency were popular, which we can also see in countries.
Now the time has come for cryptocurrencies as an independent currency without being tied to a specific "obligation" of some country. But this is just a tribute to time. An evolutionary process.
The main thing is not to create idols or ideals for yourself.
You're slippery, though. Name one thing that bitcoin is not.
Classically, money is also a commodity.
Bitcoins don't qualify.
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Of course, you'll disagree and we'll get into a discussion about the PROPERTY of a GOD.)
It's clear where we'll go from here.
You'd better look for the lyknobes yourself.
Bitcoin in today's implementation, i.e. with a ceiling on quantity, has no prospects, because with the growth of economies it is necessary to increase the money supply, this is one of the laws of development.
Bullshit
The most beloved currency, gold, also has and always has had a ceiling and it is known.
The ceiling is not a problem, but a plus in a sense. The price will adjust itself.
Bitcoin in today's implementation, i.e. with a ceiling on quantity, has no future because as economies grow, the money supply needs to increase, it is one of the laws of development.
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Incidentally, human history knows similar examples. Before the conquest of the monks, Europe could not ensure the growth of its economy because of the lack of gold coins. It is hard to believe, but in those days there was only faith in gold, and there were very few gold mines. The shortage of gold started a deflationary process and it did not end well. So all the cries to go back to a gold standard seem like nonsense, those proposing it have a poor understanding of what money is and why it should be decoupled from any commodity.
Bullshit
The most beloved currency, gold, also has and always has had a ceiling and it is known.
The ceiling is not a problem, but a plus in a sense. The price will adjust itself.
The most beloved currency, gold, also has and always has had a ceiling and it is known.
The ceiling is not a problem, but a plus in a sense. The price adjusts itself.
Bullshit, gold has other properties that cancel out the effect of the ceiling, but in general it's hardly usable as money either.
Bullshit. There are no such properties and there can't be. Inconvenience is one of the few disadvantages why gold has been replaced. Bitcoin does not have these disadvantages. There are others but they get around.
Andrey, Mishek wants to say that money is an objective reality that has its many properties, regardless of your desires.
So I am not against it. It's just that where you are now looking for disadvantages, they don't exist, they are in a completely different place.
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And yes, bitcoin is a commodity :)) not only that, there is an opinion that it obeys the laws of the Giffen commodity :))
Gold is not money and never will be, thank God. You tell experts to read all sorts of economic literature, but you have the wrong idea about money.
because it will be necessary to increase the accounting value of the expensive monetary unit, which leads to higher overheads.