Bitcoin is often valued in dollars but there is no connection anymore than there is between company shares, vintage baseball cards, gold or diamonds and dollars.
All currencies (pounds, dollars, yen etc) are suffering from mismanagement by their central banks and devaluing. Any correlation with Bitcoin is most likely inverse… as the dollar crashes Bitcoin rises.
Then if Bitcoin is not pegged to the Dollar, what then is it pegged on? What is backing it. The US dollar itself used to be backed by gold before it was discontinued. What commodity does Bitcoin rely on to have the value it has today.
All things have prices because actors in (free) markets may bid and are willing to pay those prices to own the things.
Nothings pegged. Not even gold is inherently valuable. It's just shiny and scarce. If you're in a town full of very stupid gold-racists who value it at 1 dollar per ounce, then that's it's price. Until you reach another market.
For real OP, don't take your private keys onto a boat, ever! We were all warned, we all thought we knew better, we all did it anyway, and we all regret it. No boats!
I love save too. Once I asked my relative why she saves so much. Why she does not buy a new phone. (her phone was 8 years old however did not have many problems) She said "Nothing that I can buy with this money makes me happier than save it."
I got to Bitcoin in the same way, I was a big saver but my local fiat wasn't helping so I went to look for other alternatives, I found my way to stocks and EFTs and did all the normie finance things and saving up for a property but the maths wasn't mathing and then I eventually found my way into Bitcoin....and shitcoins
.....only after some time I figured that my natural inclination to save is only rewarded by using Bitcoin, the rest I was getting fleesed or taxed
Small World Simon is a friend and owner of https://hawaiian-shirt-shop.co.uk/two-palms/ Two Palms is one of the brands in Honolulu that I export sales manage, for over thirteen years. When you eventually meet him (Simon) keep him thinking about the Orange and Purple pills.
Don't look now, but the boat holding your British pounds has a leak!
The dollar yacht isn’t faring much better… abandon ship
But the Bitcoin is pegged to the dollar. Doe is mean if the dollar is dieing the Bitcoin will die with it??
What do you mean by pegged?
Bitcoin is often valued in dollars but there is no connection anymore than there is between company shares, vintage baseball cards, gold or diamonds and dollars.
All currencies (pounds, dollars, yen etc) are suffering from mismanagement by their central banks and devaluing. Any correlation with Bitcoin is most likely inverse… as the dollar crashes Bitcoin rises.
Then if Bitcoin is not pegged to the Dollar, what then is it pegged on? What is backing it. The US dollar itself used to be backed by gold before it was discontinued. What commodity does Bitcoin rely on to have the value it has today.
My immature side says the dollar is about to get pegged by Bitcoin…..
😆.... Your immature side could be right. The world live in right now, as it is, anything can happen. Nothing is written on stone.
All things have prices because actors in (free) markets may bid and are willing to pay those prices to own the things.
Nothings pegged. Not even gold is inherently valuable. It's just shiny and scarce. If you're in a town full of very stupid gold-racists who value it at 1 dollar per ounce, then that's it's price. Until you reach another market.
Makes sense
Read this book:
https://saifedean.com/tbs
Thanks. Checking it out.
It's very good.
One day we will look back and wonder why we ever valued Bitcoin in dollars. It should be the other way around.
What then should Bitcoin have been valued in if not dollar?
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My shoes are wet
Be careful with your private keys.... Many people have had accidents on boats...
Really? I thought I was the only one....
For real OP, don't take your private keys onto a boat, ever! We were all warned, we all thought we knew better, we all did it anyway, and we all regret it. No boats!
Welcome & lets fuckin stacks
I love save too. Once I asked my relative why she saves so much. Why she does not buy a new phone. (her phone was 8 years old however did not have many problems)
She said "Nothing that I can buy with this money makes me happier than save it."
I got to Bitcoin in the same way, I was a big saver but my local fiat wasn't helping so I went to look for other alternatives, I found my way to stocks and EFTs and did all the normie finance things and saving up for a property but the maths wasn't mathing and then I eventually found my way into Bitcoin....and shitcoins
.....only after some time I figured that my natural inclination to save is only rewarded by using Bitcoin, the rest I was getting fleesed or taxed
LFG!
Welcome to the SN community ·͜·
welcome aboard
Small World Simon is a friend and owner of https://hawaiian-shirt-shop.co.uk/two-palms/
Two Palms is one of the brands in Honolulu that I export sales manage, for over thirteen years.
When you eventually meet him (Simon) keep him thinking about the Orange and Purple pills.
Aloha from Waikiki Beach,
Rich