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Alephy

(125 posts)
19. Made up money as opposed to the Drachma...
Sat Dec 7, 2024, 10:30 AM
Dec 2024

The Yuan, the Lempira, the US Dollar?

People have accepted different ways to exchange goods, store value throughout history. Or even before history. How are those ways 'truer' besides the fact that enough groups of people, at certain point, accepted them?

Bitcoin is new. It might or it might not stick around. Right now, it seems quite a bit of people are willing to accept it as a store of value. I am skeptical if it will work well to exchange goods on a daily basis. Or even if will stick as a store of value. But I am also willing to make a few $ while this plays out. I am not happy with the Trumpist acceptance of it. As we are all well aware, everything he touches turns to shit.



Recommendations

1 members have recommended this reply (displayed in chronological order):

DU is not the best place to ask RandiFan1290 Dec 2024 #1
It's a rip-off Blue_Tires Dec 2024 #10
well, I don't know who this "finance guy" is, but his history of the internet lapfog_1 Dec 2024 #16
Need some clarification here. LAS14 Dec 2024 #35
Excellent Post! One Minor Flaw. ProfessorGAC Dec 2024 #52
It could be transmuted by a particle accelerator ThoughtCriminal Dec 2024 #75
Fair Enough ProfessorGAC Dec 2024 #77
It is the perfect currency for criminals (drug cartels, gun runners, human traffickers, rogue nation states, etc.) waterwatcher123 Dec 2024 #54
Thanks!! This looks like the kind of thing I've been hunting for for years. LAS14 Dec 2024 #32
They likely have a very large endowment Redleg Dec 2024 #49
You warned me about asking on here. TNNurse Dec 2024 #62
The use of blockchain in Crypto LAS14 Dec 2024 #86
It's a way to... 2naSalit Dec 2024 #2
The way I understand it, bamagal62 Dec 2024 #3
All money is 'made up'. Voltaire2 Dec 2024 #14
That's the thing... BTC is NOT used as a token of exchange for anything other than money laundering by tha VAST majority Happy Hoosier Dec 2024 #33
It is used, to a very limited extent, as an exchange token. Voltaire2 Dec 2024 #38
Exactly. Happy Hoosier Dec 2024 #44
I know that. Thx. bamagal62 Dec 2024 #73
Made up money as opposed to the Drachma... Alephy Dec 2024 #19
Your observation of it as a STORE of value is good one. Happy Hoosier Dec 2024 #34
"Bitcoin is new" dawg Dec 2024 #60
Yes, it is really, really new Alephy Dec 2024 #63
Bitcoin is an antiquated energy-wasting protocol. If the world was ever serious ... dawg Dec 2024 #66
Sure Alephy Dec 2024 #67
It's the currency of the future ... dawg Dec 2024 #69
My apologies Alephy Dec 2024 #20
Not sure, but if I recall correctly, when you make a reply, the "powers" button below it becomes active for you Attilatheblond Dec 2024 #53
Thank you very much Alephy Dec 2024 #56
Just passing along what someone else showed me here Attilatheblond Dec 2024 #71
It's made-up money, but its primary benefit is that it's untraceable. Lonestarblue Dec 2024 #28
This message was self-deleted by its author Chin music Dec 2024 #31
Scam, well known. Passages Dec 2024 #4
Molly White does a great job of tracking this scam . . . hatrack Dec 2024 #5
The perferred method of exchange for criminals the world over. paleotn Dec 2024 #6
It's more like timeshares for the new millennium. Hugin Dec 2024 #7
Crypto is an experiment in harnessing perception as wealth. Frasier Balzov Dec 2024 #8
DU is probably the worst possible place to discuss BTC that I have seen. Years ago, a DU poster put up dozens of Celerity Dec 2024 #9
I'll never trust any money I cannot physically touch Blue_Tires Dec 2024 #13
Do you use debit and credit cards? Are you paid via EFTs? Celerity Dec 2024 #17
I do use debit and credit cards, TNNurse Dec 2024 #24
Actually blockchain - the tech behind bitcoins- Voltaire2 Dec 2024 #39
Thank you for beautifully illustrating my point Blue_Tires Dec 2024 #81
No, I did not illustrate your point at all, sorry. Celerity Dec 2024 #82
Like I said before, you're only helping Elmer and Donnie Blue_Tires Dec 2024 #84
I do not mine BTC or any other crypto currency, nor do I trade in BTC or any other crypto currency. Celerity Dec 2024 #85
It's not strictly true that tulips can't endure. LisaM Dec 2024 #37
Yes, but you are now introducing both labour and non-fungibility. Celerity Dec 2024 #43
I appreciate your commentary on this topic Alephy Dec 2024 #57
thanks Celerity Dec 2024 #58
Precisely, I have been in and out of Bitcoin since it first JCMach1 Dec 2024 #61
thank you, and OUCH! (the 30 deleted BTC) yikes Celerity Dec 2024 #64
I was treating it as an experiment... So I try to laugh JCMach1 Dec 2024 #65
well, at least you didn't spend 10,000 BTC on 2 pizzas................ (worth roughly 1 BILLION USD now) Celerity Dec 2024 #68
Thank you all. TNNurse Dec 2024 #11
It's closer to a ponzi scheme Blue_Tires Dec 2024 #12
It's a great way to launder money, too. GoCubsGo Dec 2024 #22
IMO, the rise of Bitcoin (and maybe other crypto) is being fueled by hopeium nitpicked Dec 2024 #15
The answer is Yes. Wonder Why Dec 2024 #18
Mostly yes. Voltaire2 Dec 2024 #21
The European Tulip Price Collapse. Jacson6 Dec 2024 #23
Fatally flawed analogy, and one that has been trotted out here continously long before I joined DU in mid-2018, as Celerity Dec 2024 #40
Excellent comparison. Thank you for that. BannonsLiver Dec 2024 #45
And the South Sea Company Amanita Pantherina Dec 2024 #55
It's not quite. usonian Dec 2024 #25
I never understood what it is. claudette Dec 2024 #26
Crypto is electronic barter wrapped around a restrained supply of medallions bucolic_frolic Dec 2024 #27
It's a game of hot potato Happy Hoosier Dec 2024 #29
Crypto-gypto oasis Dec 2024 #30
All currency not based an a physical commodity, but traded in markets are a scheme and a process of continual ... marble falls Dec 2024 #36
Have bought and held BTC (only) for a couple years Wavelight Dec 2024 #41
Well, I will be 80 in 5 years so I doubt that will be my concern. TNNurse Dec 2024 #48
I regret my timidity with it... Mark.b2 Dec 2024 #70
It's a threat to the environment. ... littlemissmartypants Dec 2024 #42
Yes Blue Full Moon Dec 2024 #46
Money laundering, tax evasion, medium for illegal purchases. DJ Synikus Makisimus Dec 2024 #47
A speculative mania-- really an improved version of the Tulip mania andym Dec 2024 #50
The big money return in crypto is::: keithbvadu2 Dec 2024 #51
Very poor way to launder money as BTC has an open ledger JCMach1 Dec 2024 #59
Many places take Bitcoin as payment..... Who accepts Trump crypto as payment? keithbvadu2 Dec 2024 #72
I've never encountered one place that takes crypto. If I go to the grocery store I can't buy a gallon of milk with it. Vinca Dec 2024 #78
I have a Visa debit card through Coinbase RandiFan1290 Dec 2024 #79
And the worst part is ... AncientOfDays Dec 2024 #74
Laundering Money ._. Dec 2024 #76
Plot to crash economy and make US taxpayer pay for it. Kid Berwyn Dec 2024 #80
Some fucking crypto is easier to track that others. Bitcoin leave a clear trail. Monero fucking does not. Very different SoFlaBro Dec 2024 #83
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