Bitcoin....who's gotten into it?

**shera** · 05-21-2022, 01:01 PM

I have high hopes for and confidence in the dollar, personally.

**shera** · 05-21-2022, 01:02 PM

well let me qualify that a little - the dxy has been on a rampage, would be nice to settle down a bit. but maybe that's happening now

**4matic** · 05-21-2022, 01:03 PM

Originally Posted by shera

The USD has value because it's the reserve currency of the world. That confers a special privilege. Not complaining though.

This is not true. It might add some value but reserve status is a banking function. It’s how global transactions are priced. The dollar was 30% lower not too many years ago.

**shera** · 05-21-2022, 01:06 PM

Yeah, I remember when it was tough to think about going to Europe because the dollar was so weak. What happened?

**4matic** · 05-21-2022, 01:08 PM

Originally Posted by shera

well let me qualify that a little - the dxy has been on a rampage, would be nice to settle down a bit. but maybe that's happening now

Three things are supporting the USD:

1. Oil is priced in dollars.

2. US interest rates are much higher than other major currencies; even China!

3. Reserve status in times of turmoil.

**4matic** · 05-21-2022, 01:11 PM

Just to be clear, my investments are levered to a lower dollar. Strong dollar hurts me going forward as I have a lot of EM sovereign dollar bond exposure.

**stalefish3169** · 05-21-2022, 01:14 PM

Originally Posted by J. Barron DeJong

But also kinda false, and by kinda, I mean definitely:

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It's not wrong. The quote is just referring to the beginning of 2020. The unlimited USD cap and only one node (which is a joking way to describe the problem) are also very important points, but seems you have no rebuttal for those.

Secondly, almost every study that tries to sensationalize BTC's inequality counts Satoshis wallet when it clearly shouldn't be. Even the article headline you posted explains this.

"However, it is important to note that Satoshi’s 1 million BTC is also included in this number. This wallet where bitcoin’s creator Satoshi Nakamoto, had mined 1 million bitcoins has never since any activity since then. The wallet, for all intents and purposes, is considered dead.

Take out Satoshi’s 1 million BTC wallet and the percentage of bitcoin’s supply controlled by the 0.01% drops significantly. It is also imperative to note that about 20% of the total bitcoin supply is presumed to be lost forever."

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**CarlMega** · 05-21-2022, 01:16 PM

Originally Posted by stalefish3169

It is also imperative to note that about 20% of the total bitcoin supply is presumed to be lost forever."

That's what I look for in a currency or store of value. LOLZ.

**shera** · 05-21-2022, 01:17 PM

I just read that the EU is going to raise interest rates, above zero!

**shera** · 05-21-2022, 01:18 PM

Originally Posted by CarlMega

That's what I look for in a currency or store of value. LOLZ.

Actually it would work in your favor if other people lose their keys.

**4matic** · 05-21-2022, 01:20 PM

Originally Posted by shera

Yeah, I remember when it was tough to think about going to Europe because the dollar was so weak. What happened?

Currency trends much farther and longer than most expect. Although, long currency trends have been fleeting in recent decades. In 2010 we were post GFC and rates in Europe were much higher. Bund was over 3% and Gilt was close to 4%.

**CarlMega** · 05-21-2022, 01:21 PM

Originally Posted by shera

Actually it would work in your favor if other people lose their keys.

The prospect that it's easy to lose access to your stored value isn't the selling proposition you think it is. Even worse, that Santoshi didn't think enough of his experiment to take care of his early assets.

**mcphee** · 05-21-2022, 01:23 PM

Originally Posted by shera

Actually it would work in your favor if other people lose their keys.

Sounds like the perfect path to wealth equality! I’ll take 10!

**4matic** · 05-21-2022, 01:24 PM

Create a sense of scarcity with an illusion of lost supply owned by an imaginary friend. Fairy dust and unicorn stuff

**stalefish3169** · 05-21-2022, 01:40 PM

Originally Posted by CarlMega

The prospect that it's easy to lose access to your stored value isn't the selling proposition you think it is. Even worse, that Santoshi didn't think enough of his experiment to take care of his early assets.

Impossible to say for sure, but most reasonable people have come to the realization that Satoshi most likely intentionally lost the keys once the project hit critical mass.

**byates1** · 05-21-2022, 01:42 PM

Originally Posted by CarlMega

That's what I look for in a currency or store of value. LOLZ.

You should. If you had one of those paintings and lots of others were lost ,yours would be far more valuable. Lol.

**byates1** · 05-21-2022, 01:45 PM

Originally Posted by 4matic

Create a sense of scarcity with an illusion of lost supply owned by an imaginary friend. Fairy dust and unicorn stuff

Time will tell. Leonardo's seems to be a good store of value. Even if some say they are not a Leonardo. Everything is an illusion.

**4matic** · 05-21-2022, 01:48 PM

Originally Posted by byates1

Time will tell. Leonardo's seems to be a good store of value. Even if some say they are not a Leonardo. Everything is an illusion.

I’m looking for the lost de vinci and nazi gold. Im also certain there is no gold in Fort Knox.

**J. Barron DeJong** · 05-21-2022, 01:52 PM

Originally Posted by 4matic

This is not true. It might add some value but reserve status is a banking function. It’s how global transactions are priced. The dollar was 30% lower not too many years ago.

^True. It doesn’t appear that being the reserve currency grants much in the way of lower borrowing costs/interest rates.

Biggest benefit is that that USD cash is used/held much more globally vs other currency, and that cash is basically like a 0% interest loan.

**byates1** · 05-21-2022, 01:56 PM

Originally Posted by 4matic

I’m looking for the lost de vinci and nazi gold. Im also certain there is no gold in Fort Knox.

No gold at fort Knox, that's where the aliens from Roswell are. And those little fuckers would fetch a mint at auction. Dead aliens back the USD. Birds aren't real either

**CarlMega** · 05-21-2022, 02:03 PM

Originally Posted by byates1

Time will tell. Leonardo's seems to be a good store of value. Even if some say they are not a Leonardo. Everything is an illusion.

I dunno, but if you are going to be an legitimate insurgent force that's going to replace the world's currency, you need a better argument than 'aktually some art is fake!'.

**CarlMega** · 05-21-2022, 02:04 PM

Originally Posted by stalefish3169

Impossible to say for sure, but most reasonable people have come to the realization

Based on what evidence exactly... more speculation?

**byates1** · 05-21-2022, 02:07 PM

I for one am not railing on the world to go to a BTC standard.

Why are you projecting that on me?

It's a digital store of value. It could be huge. I'm going to hold some.

**4matic** · 05-21-2022, 02:22 PM

Originally Posted by byates1

I for one am not railing on the world to go to a BTC standard.

Why are you projecting that on me?

It's a digital store of value. It could be huge. I'm going to hold some.

So we can stop calling them currency?