I suggest you read the Bitcoin Core roadmap to learn why a fee market exists. The fact that you think consumers are supposed to transact on the base layer shows a lack of understanding of how Bitcoin is designed to scale.

The high fees mean people were willing to bid up to $30 to transact on the network, there were no delays of "hours and then days." That's not how this works.

Yes if I do nothing with my USD and stuff it in a mattress. No, according to 90 year historical returns, if I invest it in a conservative portfolio consisting of a Prime money market fund (currently returning about 2.2%), bonds of varying maturities, a few hard assets, and a diverse bit of the US stock market.

I do think that the oversized returns in US stocks over the past 10 years won't be realized in the next 10.

I don't believe in 2nd layer. For that to succeed BTC price needs to be stable and that will be very difficult to guarantee.

It's not "designed to scale". It's all desperate looking for solutions once it got more popular than anyone ever thought it would.

Who does this?

You don't HODL USD. That's the point. Inflation is a feature, not a bug.

Alt-right activists who have gotten deplatformed from paypal, patreon, etc. have not had much success using bitcoin as an alternate funding source.

The Activists Waging a War to Make The Far Right Go Broke

Strongly disagree. Bonds have outperformed gold. Inflation is a feature and so is interest...interest >>>> inflation in the long run.

It's only the static, non income producing assets like gold and bitcoin which are brain dead holds.

Is this true? $100 put in a bank account with normal interest 100 years ago = how much now? Say it's $1,000. Is purchasing power of $1,000 now greater than purchasing power of $100 back in 1918?

It's not only true, I didn't do enough >>>>

It really is the silver thread all over again. It's magical.

You do realize that the actual relevant line at that graph is at the very bottom right?

I mean seems easy to say regular stocks and bonds will outperform inflation, seems dubious to me but at least arguable, that just regular checking account interest will outperform it, but pretty much just by definition HODLing dollars loses to inflation in terms of purchasing power. Otherwise its like saying inflation isn't happening.

I think there's 2 valuable things here. First, this guy had all month to plan his pump and he came up with really bad analogies. The second is the most important and the most interesting. A mysterious origin story is extremely powerful. I'm always amazed at Scientologists. Nobody held up a photo and said "this is your guy right here, the guy with the bad teeth?"

potato

I mean just from a perfect world, sci-fi fantasy perspective here, I'm not really sold on the idea that price inflation is a "a feature". I can understand the idea of needing to increase the supply of money in order to fulfill the demand so some amount of supply inflation is necessary to prevent hoarding and deflation. So a little supply inflation should balance out with population growth, prices should remain relatively the same though. It just doesn't seem necessary that the price of something like apples should be rising every year. Someone saving money for college by just letting it sit in a bank account shouldn't have to take on extra risk in the stock or bond market just to ensure value isn't lost.

Again, all this is just from a science fictiony viewpoint, I'm not necessarily saying bitcoin is the answer.

Good God man. The risk free rate of return has returned 1,500,000x your starting money over 200 years. It's produced 15,000x your starting money in real returns.

Priced in bonds (an interest bearing savings account, basically), gold is worth 0.006% of what you started with. Let that sink in. It's a very stupid thing to hold.

The notion that holding fiat is bad, or that you lose purchasing power, is an asinine notion by nowealther HODLers who probably don't even know what a CD is. In the real world people store non-transacting/meangingful fiat in interest bearing accounts, which obliterates gold in improving purchasing power.

You guys really need a financial education rather than learning about trannies in school. The fabulous return of bonds is the most basic element of economics and the financial system. Most of the people saying it's all going to collapse seem to not even know how fiat works or how it stores (and grows) wealth or why fiat >>>>>> gold in pretty much every way.

There we have it guys, TS says we should bet on Bitcoin Cash SV

I'd appreciate the trolling if it weren't so obvious. Try to be a little more subtle please.

You're just stubbornly refusing to accept the point that "HODLing FIAT" in this context specifically means letting your money sit and not purchasing any kind of investment asset. The attempt is being made to compare to currency to currency but you're having some trouble so you keep retreating to currency vs investment. I mean I could just do the same and show Bitcoin's price rise from 2010, derp, derp.

"non-transacting/meaningful" fiat, OK. You're really struggling to pretend that people aren't making specific choices to lock up their money and act like it just naturally becomes divided across different accounts.

I mean why am I even writing out a couple sentences.

Argument is HODLing dollars is bad...

response is basically "No it isn't because no one HODLs it"

Time well spent on the internet.

Obviously. USD represents debt someone needs to pay back to central authority. That debt is growing in time (cause interest rates + vig). Holding USD is the same as not paying your credit card debt when you have money on hand. It depreciates in time and that's exactly how it should work - the more you wait to pay your debt off the more value you need to deliver.

Value of BTC on the other hand is based purely on faith and hope. No one needs to pay BTC back to anyone. No one comes after you if you don't come up with enough BTC at agreed time. It's pure speculation, it's like buying land on a planet we will never be able to reach in hopes someone else wants that land more in the future.

Risk-free completely liqiud is not an investment.
It's pretty simple bro. I have two accounts in Australia - a transactions account and a savings account. I'd had them since I was 9. My savings account has paid between 2.5% and 6.5% over that time. It takes me 30 seconds to move money from my savings account to my transaction account. I can even make transactions directly from my savings account. They are all denominated and paid out in dollars. I am guaranteed to get my money back - there is zero downside risk.

This is a currency that is paying me much more than inflation. It's not an "investment". This is how normal people who aren't broketards trying to capture the next fiat crash are using money. I can't even begin to fathom how you think interest-bearing savings accounts denominated in fiat are "investments" and not "currency". Or how holding USD/AUD/EUR in these accounts isn't "HODLing" fiat currency. That's precisely what it is. If Bitcoin had interest bearing accounts with zero risk you'd be hodling bitcoin if you stored it there. Obviously. Anyone who claimed - as you are with fiat - that you're not hodling bitcoin in this scenario would be considered a little silly.

That's a solid analogy. Everything above the illegal base price is basically this. Shady people touting real estate on the moon.

How to best deal with being a parasite feeding on the flaming troll job that is crypto?


-Everyone else is playing the same musical chairs game, fair is fair

-Bitcoin losers wouldn't know what to spend their money on anyway

-Pretend trading wins will bankroll some worthwhile future project

-Just enjoy the money

-Quit

can you really get 2%+ interest from a savings account over there? that's un****ing heard of in the states nowadays. I just opened a savings account, and I get .03% interest. And I also have to keep at least $2000 in my account to avoid $20/month in fee. $20/month. To lend the bank money. lol

I mean come on. Do at least a little bit of research ffs

https://www.magnifymoney.com/blog/ea...unts275921001/

You can get 3% at call with zero risk. When USD flatlined two years after the GFC you could get 6.5% with zero risk. It was partly declining interest rates and the very strong AUD at the time that got me into US stock trading.

I know the US/Europe is really bad right now with rates (lol negative Euro rates) and it's probably partly the reason that money has moved into the stock market and even bitcoin. People chase return when there's no risk free return. But it's nowhere near that bad in the US now. You're getting raped by your bank, you should be getting 2% on your money given the risk free rate is 2%. Plenty of accounts give you that.

Also a bunch of banks in the US aren't well capitalized and you're at risk of losing the whole balance for .03% interest, lol. But it keeps the stock market high for people chasing better returns--so there's that.

btw--if you invested 10k in the market in 1802 and held it forever--most likely you have zero--DUCY?

Well, you've convinced me. Putting paper bills in a cookie jar on the top shelf for 50 years isn't a good idea. What's your point?