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20 sats \ 7 replies \ @DarthCoin 14 May 2022 \ on: I have written an article on medium for Bitcoin failing as a money, let me know how wrong I am! bitcoin
I will spend 1 sat only to give you an answer: LEARN MORE ABOUT BITCOIN. You still don't know nothing.
Start here:
https:/bitcoin.page
https://lightning.how
https://i.postimg.cc/50FyYSxK/vader-thinking-start-now.jpg
I will send 1 sat back to you if you can let me know just how can bitcoin value not be volatile?
Fiat will always exists, I have listed a history of Germany's fiat and their rebasement, replacement as an example.
So long the FX market exist, bitcoin has inelastic supply and no central gov to manage market expectation, bitcoin will always be volatile, especially when leveraged play like mining going big and more financial tools like loan building on it.
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You are the exact reason why I am writing this article. Fiat will always exists, new regime, new fiat.
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Have you read The Fiat Standard?
You should.
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I am not a big fan of his work. I have read the bitcoin standard.
I believe he presented the history of money and the importance of Bitcoin relatively well. But his work really is meant to convince you of bitcoin, it doesn't address the fundamental problems of bitcoin.
Finite supply and inelastic supply makes it extremely violate by nature. if not more in the future.
There's a lot to economics, like Milton Friedman and monetarist.
He is the one who sort of kickstart the thinking on all modern economist focus on the money supply.
I would highly recommend getting more in depth knowledge in economics before reading his book, just so you don't get sold in his story but reading his argument and coming to the same conclusion.
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Answer this: why have essentially zero economists been right about bitcoin?
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And you might find this interesting too!
A Critical Review: THE FIAT STANDARD | Ugly Old Goat
#27065
https://medium.com/coinmonks/a-critical-review-the-fiat-standard-1cf03aa53b17
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