TexasRebel said:

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Yukon Cornelius said:

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We use tax dollars to buy barrels of oil and cheese we stick under ground.

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Those have utility.

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Is utility limited to physically tangible objects?

Diet Cokehead said:

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The 7th largest asset in the world is clearly just a bubble.

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It what way is BTC the 7th largest asset in the world?

eric76 said:

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Applied Energy said:

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What say you F16?

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I am strongly convinced that it is just another bubble that will one day come crashing down and wiping out people's fortunes.

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Holy **** I agree w Eric


Wtf is going on????

I believe he's referring to this.

https://companiesmarketcap.com/assets-by-market-cap/

Why do some of yall still hate on btc and bury your head in the sand? Is it just coping?

Do you think as each day passes the next generations who nearly their entire life's experiences are digitized aren't going to gravitate towards btc?

You're sitting here on a political forum talking trash instead of accumulating for your grandchildren because of your EGOS.

MRB10 said:

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I believe he's referring to this.

https://companiesmarketcap.com/assets-by-market-cap/

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Gotcha. That's a silly comparison and does no justice in arguing BTC's value proposition. The fact you dont see farmland, housing, CRE, or any number of other assets, foreign and domestic, should give one pause about the legitimacy of the 'ranking.'

Retired FBI Agent said:

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TexasRebel said:

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Did you just say zero is made up?

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I said that zero, along with other mathematical constants like pi, half, square root, exists because it is part of a consistent rule set.

Do you disagree?

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Yes.

All of those things existed long before humans.

Retired FBI Agent said:

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TexasRebel said:

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Yukon Cornelius said:

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We use tax dollars to buy barrels of oil and cheese we stick under ground.

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Those have utility.

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Is utility limited to physically tangible objects?

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No, just useful objects and ideas.

Do patents have utility? What about copyrights? Trademarks?

Useful ideas that create useful objects or protect the creator of useful objects, sure.

TexasRebel said:

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Retired FBI Agent said:

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TexasRebel said:

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Did you just say zero is made up?

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I said that zero, along with other mathematical constants like pi, half, square root, exists because it is part of a consistent rule set.

Do you disagree?

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Yes.

All of those things existed long before humans.

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They did? Did another species create them?

If you consider Mother Nature a species.

TexasRebel said:

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Retired FBI Agent said:

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TexasRebel said:

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Yukon Cornelius said:

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We use tax dollars to buy barrels of oil and cheese we stick under ground.

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Those have utility.

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Is utility limited to physically tangible objects?

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No, just useful objects and ideas.

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I think we've come to the end of your argument here.

We can agree that what is and is not useful is subjective. Depending on the person or group of persons evaluating the usefulness.

We can also agree that non-physical objects (or ideas to use your phrasing) have the capacity to be useful.

Bitcoin is an idea. You don't think that the idea is useful. Other groups of humans think the idea is useful.

Take care.

Blockchain is useful.

bitcoin is not.

TexasRebel said:

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If you consider Mother Nature a species.

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That took a surprising turn.

You believe Mother Nature created mathematics, or at least created mathematical constants like zero? I disagree.

Mother Nature is anthropomorphizing natural phenomena. The very phrase reveals our human tendency to create conceptual frameworks.

I'll assume by Mother Nature you mean natural phenomena. While nature certainly existed before and independently of humans, mathematics as a formal system is a human invention to describe and understand these phenomena. We created many languages, notations, and frameworks to express these patterns.

I don't think you'd argue only natural objects, and not man-made objects or ideas, have utility. Or would you?

The formal system we call mathematics is undeniably a human creation. Just like Bitcoin's protocol rules and supply limit are human creations designed to interact with and describe reality in useful ways.

TexasRebel said:

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Blockchain is useful.

bitcoin is not.

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This is like saying, "engines are useful but fuel is not useful". Or "the Internet is useful but data packets are useless".

Bitcoin is more than the bitcoin token. Bitcoin is a Blockchain technology. Bitcoin is a payment network. Bitcoin is a protocol.

Bitcoin is the most battle-tested application of blockchain technology to date. But you say blockchain has utility and Bitcoin has none? Odd.

No. Mathematics is a natural language that we've learned over time. We've created none of it, and haven't learned half of it.

Romans had no way to indicate zero. Are you suggesting the concept of zero did not exist in Ancient Rome for this reason?

Retired FBI Agent said:

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TexasRebel said:

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Blockchain is useful.

bitcoin is not.

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This is like saying, "engines are useful but fuel is not useful". Or "the Internet is useful but data packets are useless".

Bitcoin is more than the bitcoin token. Bitcoin is a Blockchain technology. Bitcoin is a payment network. Bitcoin is a protocol.

Bitcoin is the most battle-tested application of blockchain technology to date. But you say blockchain has utility and Bitcoin has none? Odd.

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No this is like saying gasoline is useful, but a gasoline powered RC car is not. You're getting the underlying concept and the novelty items confused.

Blockchain will be very useful for things like contract fulfillment, mortgage repayment, voting…

bitcoin is people claiming to own made up numbers. Another NFT. Verifiable nothing.

The blockchain with a $2T market cap isn't useful. It's some other imaginary blockchain that will be more useful at some undetermined date in the future.

Let this idiot HFSP. Complete waste of time trying to help him.

I will start taking profit when he finally capitulates.

Can you repeat that "market cap" again.

Say it slowly. Units and all.

TexasRebel said:

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Yeah. Some class of people is going to get royally screwed on this one.

I do enjoy a good Catch-22 though.

bitcoin increases in "value" because HODLers won't sell them.
HODLers will sell them only when they peak in "value"

Quote:

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There was only one catch, and that was Catch-22.
-John Yossarian

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Demand is only part of the equation. The other is scarcity. There will only ever be so much, unlike fiat currency that governments print an infinite amount of creating inflation thus lowering its worth.

Scarcity is a non-factor when demand is zero.

Ahh..much better. Blocklist wins again.

TexasRebel said:

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Scarcity is a non-factor when demand is zero.

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Tell me ole wise one when we plebs should expect zero demand. You appear to have this completely figured out.

Should be tonight. Bubbles aren't logical.

TexasRebel said:

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Should be tonight. Bubbles aren't logical.

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The 36 trillion national debt is a helluva lot bigger bubble than Bitcoin.

Bubbles have the potential to pop. Debt doesnt

Unless you're GenZ.