While listening to a Twitter Spaces recently I heard a TradFi person claim it is private money, and all historical attempts at private money have failed.
This was the first time I've heard that argument against Bitcoin.
When they say private money, what they mean is private banking institution issued currency, sometimes community currencies, or company scrip
What they DONT mean is Shell money, Rai stones, Glass beads, or any other organically forming socially constructed money and that is exactly what Bitcoin is and what shitcoins are not, because shitcoins very much are private monies, but the misinformation that has caused their deep association has caused this type of confusion.
"it's not backed by anything" "but it doesn't have any yield or a dividend!" "why should I buy it compared to the other 20,000 cryptos?" "it's too volatile, I need something more stable like bonds or a CD"
While listening to a Twitter Spaces recently I heard a TradFi person claim it is private money, and all historical attempts at private money have failed.
This was the first time I've heard that argument against Bitcoin.
It makes a man just want to:
https://media.tenor.com/zsfT_l5SRvoAAAAM/homer-choking.gif
When they say private money, what they mean is private banking institution issued currency, sometimes community currencies, or company scrip
What they DONT mean is Shell money, Rai stones, Glass beads, or any other organically forming socially constructed money and that is exactly what Bitcoin is and what shitcoins are not, because shitcoins very much are private monies, but the misinformation that has caused their deep association has caused this type of confusion.
How can something completely open, transparent and not controlled by any entity be considered private? Do these people even have a brain?
We need a "Shit shitcoiners say about Bitcoin" thread too
nO uTiLiTy
what can shitcoiners buy besides the stupid NFT with their shitcoins? 🤣
me: just paid Bitcoin for my food!
Fiat brain sees anything you can’t rent seek with as useless
"it's too expensive, I need to find the next big thing to buy a large bag of"
full list here https://endthefud.org/
Thanks Darth! Hadn't seen this page yet.
Bitcoin is
"it's not backed by anything"
"but it doesn't have any yield or a dividend!"
"why should I buy it compared to the other 20,000 cryptos?"
"it's too volatile, I need something more stable like bonds or a CD"
It has no real value
No smart contracts (although this probably comes more from shitcoiners)
Mute point now with BitVM
The one I hear most often (from generally otherwise intelligent people who have a very basic understanding of how Bitcoin works) is that..
it has no intrinsic value
"Where shall we have lunch?"
If you guys just concentrate on bitcoin you can miss so many opportunities like defi, deso, etc. 🫠🫠🫠🫠💀
haha
Probably more from all my discussions with friends, but... These are the one I remember now.
these are lots of common comments!
It's too expensive is what I'm hearing once again after people had an entire year to buy it at half price but okay
Scam. Only used by criminals. boiling oceans.
They just flat out call you conspiracy teorist or gambler. Some people are beyond saving.
When will you sell?
it is not tangible, just code