TexasRebel said:

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How, exactly, does bitcoin work with spotty electricity and severed networks?

I genuinely would like an answer.

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99% of US currency is digital so they'll be bigger issues if networks are down.

I'm not sold on bitcoin, I just don't see how investing in ammunition is going to be useful. Take the situation in Canada right now. The government cuts off your mortgage, bank account, benefits and job. What good are your guns going to do you? I really want to know what you are going to do with your guns in that situation.

TexasRebel said:

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Both?

Precious metals & land are good, too. It partially depends on the need for their properties.

Gold can't be faked so it's a great currency.
Silver is similar, but tarnishes and is more common.
Some land is worthless. Some is priceless.

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Okay. So now we are getting somewhere.

So each example here is a store of value and you name some qualities but you point out their flaws.

Why is BTC any worse than these as a store of value?

Because someone said on the OB that .22 rounds would be valuable

How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

TexasRebel said:

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How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

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Everything has a use case. Stop acting like any one tool or asset will save you in all scenarios. Having both is better than one.

XXXVII said:

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Not unusual for all crypto to drop when the stock market is tanking. People are selling to protect their profits.

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When things collapse uncorrelated assets become correlated. Gold, silver, commodities, all sectors get sold for cash until peoples feelings and emotions change.

Everyone flees to CASH.

Bitcoin is not an alternative to cash, it is not anywhere close to replacing USD. People are not fleeing to Bitcoin, they are running from it during times of fear just like you see with Gold in times of uncertainty.

Palovic said:

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TexasRebel said:

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Both?

Precious metals & land are good, too. It partially depends on the need for their properties.

Gold can't be faked so it's a great currency.
Silver is similar, but tarnishes and is more common.
Some land is worthless. Some is priceless.

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Okay. So now we are getting somewhere.

So each example here is a store of value and you name some qualities but you point out their flaws.

Why is BTC any worse than these as a store of value?

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To be honest....gold was used as currency for many years well before the idea of America came about. Gold does posses many great characteristics as a store of value......but what happened to every civilization that used gold as a currency throughout history?

I know the answer and why because I researched and I would recommend you do the same if you truly care

exp said:

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TexasRebel said:

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How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

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Everything has a use case. Stop acting like any one tool or asset will save you in all scenarios. Having both is better than one.

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ONE won't.
But an intangible is . . . nothing incarnate.

TexasRebel said:

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How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

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How does gold get food?

Money at the end of the day an indirect means of bartering through a widely accepted and easily divisible medium.

I think you have that backwards. In times of uncertainty people buy gold and precious metals. That's why it's confusing when Bitcoin follows the market since it's sold as a safe haven.

The truth is: the value of Bitcoin right now is based purely on speculation.

TexasRebel said:

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How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

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The measure of a store of value is not based upon food accumulation and/or acquisition.

Go back to first principles of what money is......and why it was invented in the first place.

The ability to trade for goods and services evenly because trading goats for bread does not an economy make

So then the current $36K question arises from those that are curious to know....why is BTC a better form of money and why should I want it?

Aggie4Life02 said:

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How does gold get food?

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Based on its valuable properties,
In this case the ability to not be counterfeit, it can be used as a currency that is both not fiat, and not issued by a government.

TexasRebel said:

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Aggie4Life02 said:

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How does gold get food?

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Based on its valuable properties,
In this case the ability to not be counterfeit, it can be used as a currency that is both not fiat, and not issued by a government.

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Okay. How do you cut gold to give change if you want bread? How do you carry it to go purchase a car or any large purchase? Where do you store it from theft? How do you verify it is truly yours when someone disputes it is theirs? How much gold truly exists in the world today (US Treasury has NEVER been audited nor has any country)......so scarcity is a question and people are still mining it today so maintaining is value is a question if any influx/inflation occurs.

Calling it a night....Russia just invaded Ukraine......just think what happened to their dollars overnight as well as their brass, powder, gold.

Very sad to think about these people

Since it's valued by weight, you cut/shave it.

Large purchases are easy, but you do have to heft it.
Theft is an issue with any viable currency.

Take gold for instance.
You can bury/hide it where nobody can ever find it, but you can't use it.
You can keep it accessible, but you have to secure it.

If they let their ammo get confiscated, I have no sympathy.

When Bitcoin is down in value during times of crisis, it should tell you everything you need to know about Bitcoin.

Fitness and health, a portfolio of skills used to produce valuable goods and services (some of which can be traded), land and water rights perhaps

Lots of things can store value, at least temporarily.

Of course, man's belief that he has secured order out of chaos has always been foolishness. Chaos is never more than a heart beat away.

TexasRebel said:

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How does bitcoin get food?

How does ammunition get food?

If your "store of value" cannot feed yourself and anyone you provide for, how is it valuable?

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Wasn't the first purchase made with bitcoin food?

Yep.
And since nobody is going to answer the actual question: Traded electronically over a network.

Now do ammo.

Jay Reimenschneider said:

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Thanks for the heads up!!! Buying more. Make sure you keep your fiat deflated turd in your savings account!

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I park mine in real estate

Aggie4Life02 said:

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US Dollar



FIFY

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You got anymore of them inflation?

Ha! What a farce. This whole thread is a troll

When in doubt, zoom out

So now the enemy is scooping up unicorn farts in attempt to skirt economic sanctions.

Can anyone else see the Guillotine blade raising? …or is it just me?

Does the bitcoin network have a mechanism to remove unwanted actors, institutions, or countries like we just saw with SWIFT?

tysker said:

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Does the bitcoin network have a mechanism to remove unwanted actors, institutions, or countries like we just saw with SWIFT?

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Could be wrong but I think they would need to identify which specific wallets are held by the unwanted actors. With current transaction volumes, and the majority of new transactions being to/from brand new wallet addresses…good luck

tysker said:

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Does the bitcoin network have a mechanism to remove unwanted actors, institutions, or countries like we just saw with SWIFT?

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um, no, that is one of the biggest reasons it was created to avoid the actions taken by the western nations this week.

Dont kill the messenger but its going to service the russians quite well. Now, it will only get you so far, eventually any legit company you want to deal with is going to want to transact with SWIFT

We all applauded this capability last week wrt to Canada, but it is a double edged sword

The global events happening right now are lockstep with what the bitcoin intelligentsia have prognosticated for quite awhile.

I've posted a few quotes and tweet threads from Admin Errors from our OnChainAgs group that have gotten deleted.

Apparently trollrebel is a mod or goes under the table for a mod.

[Angry face for AdminErrors permaban]

When the actions of the government tank your currency, you need to find an alternative. And it makes since that if it's a centralized currency that tanked, and you've lost faith in your government, you'll turn to something they can't control.

And those unicorn farts are up 20% since you started this thread.

Thread fail

Thread delete! I guess somebody found value in it. I think this is a game changer. Bitcoin is going to soar.

Back to shaving gold off the bar for Rebel.

What did the Ukrainian Govt ask for from the world to help the Ukrainian Army countervail the Russian kinetic attack..........

Bitcoin, ETH, and USDT.

NOT Gold or USD

Wars cost money and NATO donations can't be counted on.

I like the idea behind Bitcoin, but to me there are issues with crypto in general that need to be sorted out before you'll get widespread acceptance.

First, the lack of a standard. Sure BItcoin is the market leader, but with the plethora of currencies it seems the market needs to sort itself out. Nobody wants to be left holding the equivalent of 3 trillion Zimbabwe dollars or whatever that's worth a penny.

It seems that the speculative nature of it precludes it from replacing any currencies.

The volatility around it makes me question its use as a speculative investment (or a hedge) compared to physical assets be it real estate or precious minerals.

And the fact that the IRS requires you to treat it as realized gains when sold or even used for purchases makes it even harder to get enthusiastic about.

If Bitcoin had a more stable value, I'd be jumping in. If the IRS would take a hands off approach, I'd definitely be interested. I am trying to educate myself and stay current. I see the possibilities but the headwinds are strong enough to hinder my enthusiasm.