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The Dollar is going to crash and Americans are going to be poor
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2022-04-21 at 3:57 PM UTC
Originally posted by the man who put it in my hood you're too stupid to understand how halvening cycles or proof of work vs proof of stake work. When there is less of a supply of something it becomes worth more, simple economics. You can make 99999 quadrillion dollars but there is a fixed supply of bitcoins.
what do you think happens when an investor spends 1 trillion buying bitcoin ? -
2022-04-21 at 3:58 PM UTC
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2022-04-21 at 3:59 PM UTC
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2022-04-21 at 4:01 PM UTC
Originally posted by aldra you'd better have the weapons and manpower to protect it
yea, I know , I am in a good location tho, I a bad motherfucker, in my hood they gonna run to me for protection and food.
I also know many collectors thatl be hungry for meat that they will trade guns and ammo for.
and I know a few with gold and silver as well as guns that may not be friends so they are fair game in hard timesThe following users say it would be alright if the author of this post didn't die in a fire! -
2022-04-21 at 4:03 PM UTC
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2022-04-21 at 4:10 PM UTCI remember when BitCoin first came out it was about 3 cents each. Everyone thought it was a scam, so nobody bought them.
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2022-04-21 at 4:11 PM UTC
Originally posted by vindicktive vinny answer the question.
Has any investor ever invested 1 trillion into anything?
Unlike gold or cash bitcoin is hard coded to have a fixed supply and function in a way unlike traditional commodities. It's still too early to tell but unlike traditional institutions like banks and stocks which require massive manpower to handle the institutions crypto has an almost $2 trillion market cap and is an almost entirely self powering ecosystem that doesn't heavily rely on centralized forces and supply chains.
When people like Micheal Saylor or Elon Musks or the government of El Salvador shitpost of crypto currencies the price might spike or dip a bit but maintains it's own momentum unaffected by outside forces because of the diversified ecosystem.
Even if the entire market cap of crypto halved or doubled overnight I don't think it would affect much. There was a massive sell off a few months ago and the prices are already back to normal.
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2022-04-21 at 4:20 PM UTC
Originally posted by the man who put it in my hood Has any investor ever invested 1 trillion into anything?
does it even matter ? would you be more open to considering the effect of it if i said a thousand investors each investing a billion into bitcoin ?Unlike gold or cash bitcoin is hard coded to have a fixed supply and function in a way unlike traditional commodities.
this made no difference whatsoever as long as they can keep adding more decimals to the exchange rate.
as long as infinite money can be ''invested'' into bitcoins, infinite amounts of 0 can be added after the decimal point.
so now a dollar equals 0.000000000000000000000000000000000000000000000000000000000000000000000000001 BTC. -
2022-04-21 at 4:27 PM UTC
Originally posted by vindicktive vinny does it even matter ? would you be more open to considering the effect of it if i said a thousand investors each investing a billion into bitcoin ?
this made no difference whatsoever as long as they can keep adding more decimals to the exchange rate.
as long as infinite money can be ''invested'' into bitcoins, infinite amounts of 0 can be added after the decimal point.
so now a dollar equals 0.000000000000000000000000000000000000000000000000000000000000000000000000001 BTC.
Crypto is mostly whales anyways so I don't think it would affect much.
There is not an "infinite" supply of money you can print enough to make bitcoin "worthless" but eventually that money will be hyperinflated from being printed so much and lose value while bitcoin maintains it's trajectory unaffected by fiat. It would actually be better to buy bitcoin with gold directly and sell it for gold that way at least you have a chance of getting some of your money back if the dollar becomes worthless. -
2022-04-21 at 4:46 PM UTC
Originally posted by vindicktive vinny as long as infinite money can be ''invested'' into bitcoins, infinite amounts of 0 can be added after the decimal point.
so now a dollar equals 0.000000000000000000000000000000000000000000000000000000000000000000000000001 BTC.
that just means your bitcoin buys more dollars and is therefore even more valuable when you need dollars. Your bitcoin has appreciated as the dollar depreciates. Isn't that a good thing? -
2022-04-21 at 5:17 PM UTC
Originally posted by troon that just means your bitcoin buys more dollars and is therefore even more valuable when you need dollars. Your bitcoin has appreciated as the dollar depreciates. Isn't that a good thing?
ok so now that the price of bitcojn has increased a thousand fold, so any tom, dick and hairy who ''invested'' a dollar into bitcoin initially now have a thousand.
and what do you think happens next ?
ja. inflation.
this is how crypto vs fiat money really looks like.
with the crypto being the holes on the wall. as long as the value of bitcoins are in some way tied to the value of fiat money, as long as that will it carry the value of fiat money, and devaluation of one will lead to the devaluation of the other,
and inflation of the fiat money will result in more 0s before the decimal point, while inflation of bitcoin will result in more 0s after the decimal point. -
2022-04-21 at 5:21 PM UTC
Originally posted by the man who put it in my hood Crypto is mostly whales anyways so I don't think it would affect much.
There is not an "infinite" supply of money you can print enough to make bitcoin "worthless" but eventually that money will be hyperinflated from being printed so much and lose value while bitcoin maintains it's trajectory unaffected by fiat. It would actually be better to buy bitcoin with gold directly and sell it for gold that way at least you have a chance of getting some of your money back if the dollar becomes worthless.
the values of two things vis a vis each other are relative, -
2022-04-21 at 6:32 PM UTC
Originally posted by vindicktive vinny devaluation of one will lead to the devaluation of the other,
in your example, the devaluation is of the dollar against bitcoin. Bitcoin appreciates relative to the dollar and so counters dollar inflation, it doesn't cause it.
I had one dollar, the dollar is worth a thousand times less, my dollar is now worth a thousand dollars thanks to bitcoin. It preserved my dollar purchasing power. -
2022-04-21 at 7:11 PM UTCi wish i had accepted bicoin in 2012.The following users say it would be alright if the author of this post didn't die in a fire!
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2022-04-21 at 7:17 PM UTCyou might have died from acute hedonism
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2022-04-21 at 8:13 PM UTCI just found out there was a cryptsy lawsuit I missed the boat on. I've submitted that crypto capitalism creates winners and losers and I'm a loser. Also regular capitalism and life
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2022-04-21 at 8:14 PM UTC
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2022-04-22 at 1:10 PM UTC
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2022-04-22 at 2:10 PM UTC
Originally posted by vindicktive vinny ok so now that the price of bitcojn has increased a thousand fold, so any tom, dick and hairy who ''invested'' a dollar into bitcoin initially now have a thousand.
and what do you think happens next ?
ja. inflation.
this is how crypto vs fiat money really looks like.
with the crypto being the holes on the wall. as long as the value of bitcoins are in some way tied to the value of fiat money, as long as that will it carry the value of fiat money, and devaluation of one will lead to the devaluation of the other,
and inflation of the fiat money will result in more 0s before the decimal point, while inflation of bitcoin will result in more 0s after the decimal point.
They are not at all tied to the value of money you absolute retard -
2022-04-22 at 4:44 PM UTC
