Same .
To me bitcoin is kind of a call option with unlimited duration for volatility (vix).
With a great upside if it’s succeed in its core mission.

Explain please.

People could lose confidence in a crypto currency overnight, due to some unforeseen endogenous or exogenous event. Since there's nothing backing it's value there's no backstop that would otherwise prevent it from quickly losing a significant percentage of its value before one could exit their position. The same is much less likely for an established fiat currency like USD or EUR.

Interesting. Even seeing its destruction coming in slow motion, from where does one go when they exit their position from fiat?

Assets (stocks, bonds, real estate, commodities, basically anything that isn't cash). And sometimes cash works out to be the least net-risk. The hard part is staying one step ahead of the masses and figuring out which asset classes will outperform in various economic scenarios, so that even after any drop in the currency value the investments are denominated in you still stay net positive in your returns (or in very rough times, just preserving your wealth). Unfortunately it's not a strategy decision you can make once and forget for long stretches of time - you have to constantly be shuffling your investments around. It sucks the system is set up like this, to protect against intentional debasement and inflation, and I definitely see the appeal in people looking for an alternative and turnkey solution like Bitcoin. But it's just trading a manageable risk for an unmanageable one IMO, akin to jumping out the high-rise when you smell smoke rather than keeping your wits about you and finding a more measured way down to avoid the fire.

Stocks and real estate aren't used as currencies. So the answer is 0%.

Don't call bitcoin a currency if 0% of household purchases are done with bitcoin.

That means it failed as a currency. Bitcoin is something else right now, and it isn't a currency.

Fiat system is actually fine on the most part, with bumps and bruises along the way. There's about a few trillions $ of transactions being done every day in fiat, from pennies all the way to multi billion globally.

When 1 fiat system fails, out of necessity the entire country will band together and make a new fiat system.

The argument, "what is it backed by?" doesn't matter since the entire population will use it anyway out of pure necessity.

If a country is badly ran like Venezuela, the currency will collapse, and you are screwed either way, fiat or non fiat.



But we keep comparing bitcoin to fiat currencies, bitcoin aggregate usage is not as a currency, so why keep comparing it?

Bitcoin fixes this har.

Cool

Value of things never changes, eh?

Why a chicken cost more in some country and less in others ?
Why the same house with no improvement magically went up 20% in 2021 or will fall as much next year ?
Why gold in some countries goes up while in others it went down at the same time ?
What u think inflation (or deflation) is if it’s not the currency value going up or down ?

More people chasing fewer resources?
Fewer people chasing more resources?

Prices of items change based on supply and demand, for sure, but if the argument is that the main driver for price change isn't money printing, then I don't know what to say.

I guess you'll have to be quiet for awhile .

can you explain why a newspaper cost a nickel in 1900 and now it's $3?

$1 in 1900 is equivalent in purchasing power to about $35 today. Why is this???

I'll tell u why.

printing was expensive back then and exclusively for the rich.

now it's mainstream. why was a flat tv 10k back in 2000?

Why did a 3 hour phone call to my girlfriend cost $320 in 1984 and today it would cost $0?

tech is getting cheaper.

I think his point is still valid.

prices are changing all the time.

think this furthers my point. tech improvement drives the cost of things down, but for the most part, things cost more money.

Because her rates have become considerably more reasonable?

I'll see myself out.

Well, she is almost 40 years older. But I have no idea how much she's kept herself up, so I can't comment on if her rates are appropriate or not.

Because the structure of telecommunication isn’t the same .

Why a breast of chicken is much higher today to feed me one meal compare to 50 years ago ?
Is there a shortage of chicken today ?
The chicken gain value or the currency went down ?
Why someone cleaning dishes today earn twice the salaries from around 2-3 decades ago ?
It’s the same work .

Why a house last year gains 20% and will lose 20% next year ?
The currency went cheap and now it’s getting costly .

Gold is the perfect example .
If it was supply or demand why gold simultaneously go up and down in value different currencies ?
It’s the same ounce.

Yea supply and demands affects the price too but it usually a temporarily situation.

Prices of stuff can go up or down even tho there isn’t a shortage .

Don't know if true, but saw an article saying that over 50% of addresses are at a loss now.

I guess Tooth very soon!

Genesis insolvent. Tooth should be quite soon

all i remember about tooth is him repeating 'ponzi wave till 15k ponzi wave till 15k'.

So what am I just admitting he' s smart? Is that smart? How is predicting the markets intelligent?

Predicting the markets is intelligent in the same way everything SBF said was intelligent.