Its a private currency
Posted by Shyaku on May 17, 2022, 5:07 pm, in reply to "Bitcoin"
As usual, take your pick: A private currency with all that entails (you-have-no-real-control), vs a public currency with all that entails (you-have-no-real-control :-). |
Apart from that, bitcoin is illiquid (transactions take too much time and energy to settle for mass usage). Therefore it is an investment vehicle, not really a currency, come to prominence largely due to the absence of anything else to invest in these days, in which investors make decisions based on the value of bitcon in US dollars and generally settle back in the latter in order to realize any new found wealth. The latter is probably worth pondering. USD doesnít have a very bright future sans petro, but then, currencies should not really be considered a store of wealth, just a means of exchange and therefore held highly temporarily. Wealth = tangible assets/commidities, whichever of these you and those around you value. When RhG was here, the single commodity he valued was gold only, and you could count on him to say so, like clockwork. Others would be produce & energy. Land is a tangible asset, that is why there ainít very much public land. Lee Camp likes bitcoin because he has a niche use for it: Donations that cannot be shut down. This is fair enough in his case, it does indeed serve this niche purpose.
Best regards, Shyaku