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Hello Sailor posted:A) You were banned and told to go away three days after making your first account, pedophile. I'm sorry that you think that having nothing better to spend money on and us humoring your mental illness makes you a member of the community, but it doesn't. I had never heard of you until your first post in this thread. You're certainly not the first person to make the mistake of thinking that being repeatedly asked to leave somehow makes you a member of the community, you probably won't be the last. You'll eventually snap out of it and disappear (or see C), just like all the ones before you. I'll still be here. Hello Sailor posted:B) Ah, the "words mean whatever I want them to" defense. When I say "investment", "speculation", and "gambling" in regards to purchasing digital currency, I'm using them in the same sense that experts in the field do. You are not. For example, "investment" specifically refers to capital goods. Digital currencies are not a capital good. By definition, they are not an investment. Hello Sailor posted:The price of bitcoin is entirely driven by mania. How can you tell? Because it's not significantly different from any other digital currency out there (it even has significant built-in problems that other d.currencies are better at avoiding), yet those currencies have not seen the sustained increase in price that bitcoin has and the general public never hears about them. This means BTC is a fad which will eventually die when the perception of novelty goes away. While Bitcoin’s open-source software may be forked, its community and network effects cannot. Bitcoin makes trade-offs for core properties that the market deems valuable. Many digital assets have emerged that claim to improve on Bitcoin’s deficiencies. However, to date, none have been able to achieve Bitcoin’s network effects. Bitcoin has qualities that make it valuable, and it makes explicit trade-offs to offer those qualities, as mentioned multiple times in this piece. While competitors have attempted to improve upon Bitcoin’s limitations (e.g., its limited transaction throughput or its volatility), it has been at the cost of the core properties that make Bitcoin valuable (e.g., perfect scarcity, decentralization, immutability). This explains why Bitcoin continues to dominate in terms of market cap, investors and users, miners and validators, as well as retail and institutional infrastructure and products. As shown in the charts below, bitcoin’s market cap is orders of magnitude higher than the combined market cap of competitors (other proof-of-work digital assets).   While Bitcoin’s software is open-source and may be forked and “improved” upon, its network effects and community of stakeholders (users, miners, validators, developers, service providers) that understand and accept the trade-offs it makes cannot be so easily replicated away. Hello Sailor posted:It could be next month, it could be another 10 years from now. When it fails, there will be people left holding the bag. Hello Sailor posted:The willingness to accept risk is subjective, but the (correct) assessment of risk is not. People may be willing to bet money on a coin flip, but the odds don't stop being 50/50. On average, about one out of every thousand people will win ten coin flips in a row; do you think that means that one person made a good decision to speculate on coin flips? Hello Sailor posted:C) Once a serial account buyer's harassment becomes sufficiently tiresome, the usual procedure is to seek legal solutions in civil and/or criminal court. Please, enlighten us on how you plan to use your wealth to evade the law.
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Feb 3, 2021 23:13
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