BTC is above $36,000 again. I can only assume that it is due to this thread.
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Aside from speculative investment part, who here thinks of crypto as a real currency? The way I see it, a good currency should be a stable transfer of value, reliable for both the buyer and seller, fostering high liquidity. From a currency perspective, bitcoin is seeing extreme hyper-deflation and high volatility. In order for bitcoin to be a āgoodā currency, wouldnāt the supply of bitcoin have to directly correlate to the amount of productivity in the world?
Not trying to start some sort of argument, Iām just genuinely curious. Is deflation-by-design a good thing, and if so, why?
Again, trying to completely divorce this question from the ācrypto-as-speculative-assetā perspective.
The deflationary aspect is why I think Bitcoin would be a terrible currency. Artificial scarcity is the crux of BC; and artificial scarcity drives up the price of the asset/currency (BC) and thus the amount of actual labour or resources necessary to obtain it. (That necessity occurring if BC becomes an actual in-use currency). I think that would lead to horrible inequality between those with BC assets, who could gain inordinately from it, and those without. A kind of medieval landlord/serf relationship.
But no one is really using BC as a currency, except some residents of failed/pariah states. Itās a speculative asset thatās held with the hope of capital gain. Itās often compared to gold, but l think itās the opposite; gold looks like a speculative asset but is actually a currency, Bitcoin looks like a currency but is actually a speculative asset 
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btc fees are too high n takes too long to transfer to be used as a real currency, if I recall correctly.
thatās why it forked with bitcoin cash back in the day. bch is much more usable day to day, but then it turns out bitcoin is just popular cause its bitcoin, and bch never really caught on the way they had hoped. so itās more a store of value, like a really volatile gold 
Not sure, Ive always liked the idea of a constant(or near constant) amount of money, like gold.
If the economy grows and we produce more goods and services within our nation then prices should go down and living standards go up. And vice versa. Simple supply and demand but in regards to good>money.
Then if a nation works hard everyone benefits from the lower prices. Why would prices going down be considered a bad thing? Oh look now my Ā£$Ā£ can buy me twice as muchā¦lol
Deflation is considered bad (just now) because we live under a debt based fiat currency system that is designed to transfer wealth to the top. Under a solid money system deflation would be good.
Deflation unfortunately starts to gum up the whole process, as it de-incentivizes economic activity today, as itāll be more profitable tomorrow. Liquidity is what allows for economic growth, as it is effectively the speed that you cycle out the inefficient and replace it with the efficient. What would incentivize the wealthy to give up any wealth if they were to pool most of the stable money supply?
Letās say you are starting a global grocery business today. Why would you ever choose to do business in Venezuela? Selling goods today will net you less money than selling them tomorrow in the country (being a seller with a hyper-inflating currency effectively makes you experience hyper-deflation).
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Thanks for the translation. Thatās still a sad waste though.
thank you very very much for this. I will look into it and see where I choose to gamble.
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ECB is cray
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I thought usd was laundered a lot ? Perhaps in some ways they can at least track it but Bitcoin canāt be tracked. ā¦ ( Iām sure thereās an online conspiracy somewhere about all this )
Iām happy itās gone back up , yes I see it as a bet/asset and not as a usable currency atm .
Even the fact that I can buy a sandwich for Ā£1 but if I used a Bitcoin the price tag on the supermarket shelf would be something silly like 0.0000000176
No one would want to engage with such a bizarre number, and itās be different every 30 minutes.
Iām so happy I ditched all my MSFT, AMZN, FB, GOOG, and BABA stocks. All I look at everyday now is GBTC, ETHE, KSHB, & PLNHF. Crypto and US Marijuana stocks are 
lately.
Iāve become a huge fan of Cathie Wood from Ark Investment. Iām finding I share her view on most things.
Check out this new space ETF Ark is coming out with:
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Bitcoinās finite nature (paired with its general public acceptance as an investment vehicle) to me is the defining quality of its success. If you look at the money supply around the world, youāll see that currency is in massive oversupply to the point where negative interest rates are a real thing. So in other words, if you own cash, you are LOSING money. So everyone that can afford it moves their assets into seemingly finite assets to store them, i.e. real estate, precious metals & resources, etc. Bitcoin is one of those abstract vehicles that ābehavesā like one of those finite material vehicles. So you get a lot of people parking their money there. And then thereās the investors/speculators of course, who try to ride the crypto-wave. I think Bitcoin more than any other crypto will hold its value or rise in value, especially in trying and volatile times.
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soooā¦! whoās excited for the bullrun? i am def looking to make some gains!
Another one ?
Erm - what?
Iām pleased with my gains so far.