by MYEUHD on 12/29/20, 2:34 PM with 9 comments
by save_ferris on 12/29/20, 2:45 PM
This is a pretty good point. Many assume that the collapse of the USD will neatly transition us to BTC without any real evidence. Not to mention all of the alleged BTC price manipulation that ran up the price last time.
The more I think about it, the harder it is to envision the public accepting a new currency that doesn’t even have paper. In such a scenario, a BTC crash would probably be the end of it.
by Double_Cast on 12/29/20, 4:06 PM
...
> When the lock-down was in full effect it dawned on me: bitcoin is indeed utterly useless when things go haywire. What's the point of wealth if you can't do anything with it, won't do anything with it, or have no one to share it with.
During his journey home, Bilbo gifts a portion of his treasure to the King of the Wood Elves. This generosity is juxtaposed with Thorin, who
A) Roped his 12 buddies and Bilbo into a speculative venture (with ZERO plan to realistically defeat Smaug),
B) obsessed over the Arkenstone to an unhealthy degree,
C) refused to share the spoils with Lake Town or the Wood Elves, and
D) locked himself away in the mountain.
by meowster on 12/29/20, 3:04 PM
If it stressed him to the point where he went to the doctor thinking he had cancer, I think that's his problem, not Bitcoin's problem. He could have just as easily obsessed about something else other than Bitcoin.
I don't want to 'blame the victim', but it sounds like he's not taking responsibility for his own actions. No one forced him to buy Bitcoin.
by cainxinth on 12/29/20, 3:22 PM
No one knows who created it!
What if, despite its open source code, its mysterious creator or creators hid a back door or some other nefarious design in it?
What if all the computer experts thus far haven’t found it?
Probable? After this many years, not really. But it’s possible, and I’m far too skittish an investor to take that chance.
Index funds, CDs, and munis are old hat, boring, and basic... and that’s the way I like it.
by j_m_b on 12/29/20, 2:59 PM
>Invest in yourself and others you believe in. A financial instrument that brings out the worst in people—greed—won't change the world for the better
If we're going to get into bad philosphy, this is pretty much the creme de la creme of bad philosophies.. that so-called "greed" is bad. That self-interest is somehow bad, that we should just all invest in other people and the world will be a better place. We'll all sing in perfect harmony. I don't buy it.
The world is full of bad actors, incompetency and smart people making bad decisions. I can't really dictate how you should behave, but I can always act in my best interest. If that means getting rich, I'm going to have plenty of competition.
by roel_v on 12/29/20, 2:55 PM