Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Fadaar
That guy
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Sanrith Descartes
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Tuco
I got Tuco'd!
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here's what backs the USD
Specifically, the ability to enter into any theatre and control it with conventional means, especially on trade routes over seas.
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Flobee
Vyemm Raider
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After how many years of rainbow flag indoctrination of the services will this last? How many billion of stockpiled arms sent to Ukraine? I feel that this argument, while historically accurate, gets weaker every year. USD is still king, but it doesn't seem implausible that when that changes, it changes all at once.
When that change occurs (tomorrow or in 40 years) what does the landscape look like? What exists to replace it? Pulling on that thread leads to Bitcoin, even if your probability for this is small, it can't credibly be zero. Is your % allocation equal to your probability?
That would be my base case for holding Bitcoin to your average no-coiner at least.
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I was a while back, but am not really any longer. They need to hit a point of real world use and usefulness. I thought they were heading that way as the inexpensive L2 solution on top of ETH to facilitate real world use of it. But that hasn't come to pass, and I realized a while back it probably wasn't going to with MATIC.
And Afghanistan then kinda "unbacked" the USD then? Because all those pretty ships weren't able to enforce our will on a country with a resistance armed with AKs and IEDs... hiding in mountains and driving us out. And getting us to leave them billions in arms and equipment as a prize. Add into this that we aren't exactly enforcing our sovereign will on Russia in Ukraine right now.... Then look down the road to see what we will or won't really be able to do if China decides it's time to fully reintegrate Taiwan? Essentially our currency is the default world reserve currency because we're the biggest bully on the block, but people are starting to simply ignore that. So at that point, how strong is the currency backed by our military might?here's what backs the USD
Specifically, the ability to enter into any theatre and control it with conventional means, especially on trade routes over seas.
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Tuco
I got Tuco'd!
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Driving us out of what? What resources, industry or trade routes were we protecting in that war? We've got a global military built around a mission to protect the US and its interests, the mission to BTFO Afghanistan and rebuild it was doomed because it didn't align to that mission. Same question for Ukraine.
To yours and Flobee's larger point about long term viability, the USA's current position being backed by the military is not a permanent position and there are many different ways it would transform, degrade or increase. An interesting way is our oil import graphs, specifically oil imports from outside our backyard of North America.
United States energy independence - Wikipedia
None of this changes that the sentiment of "money is only valuable because you think it's valuable" being reductionist due to there being fundamental reasons why we think of it as valuable.
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Flobee
Vyemm Raider
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Not to completely derail the conversation away from talking about dogcoin#4963 going to the moon, but I generally agree that the US is far and away in the best condition moving into what I suspect is going to be a global recession as globalization fails. My point is more that in the process of the US 'winning' in this environment they will likely destroy all global credibility in their position (via USTs) as a trustable global reserve asset.
Weaponizing the dollar started this, but stuff like this (if legitimate) further cements it. To be clear USD could get a LOT stronger in the short-medium term as its going to take time for this to play out.
In an environment of declining international trust and reshoring of supply chains what does money look like? It seems to me that a medium of exchange that minimizes trust between participants has value. It isn't a guarantee but I can't really think of a more ideal setup. This is completely ignoring things like national debts, money printing, etc... as they apply to Bitcoin's limited supply and programmed disbursement (inflation) schedule.
You can have multiple current event conversation that in my view end with Bitcoin succeeding.
Weaponizing the dollar started this, but stuff like this (if legitimate) further cements it. To be clear USD could get a LOT stronger in the short-medium term as its going to take time for this to play out.
In an environment of declining international trust and reshoring of supply chains what does money look like? It seems to me that a medium of exchange that minimizes trust between participants has value. It isn't a guarantee but I can't really think of a more ideal setup. This is completely ignoring things like national debts, money printing, etc... as they apply to Bitcoin's limited supply and programmed disbursement (inflation) schedule.
You can have multiple current event conversation that in my view end with Bitcoin succeeding.
Kiroy
Marine Biologist
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As an aside, just giving away Bagram is all of this. The strategic importance of that base was insane. No deal or exit should have ever been executed that didn't allow us to maintain our position in Bagram.
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I made like $60k on it in 2021. I haven’t bought nor sold any crypto since 2021.
Biggest thing I even own in crypto is almost 80,000 TrueBit which has went down to 1/4 of its value. All bought with house money.
I really haven’t at all followed crypto in the two years since. I’d only buy any more of it which has a noted real world usage.
I still “like” TrueBit as a gamble as it does have a theoretical usage if it’s ever adopted, and the team behind it is notable at least.
Do I ever expect it to really take off? Ehhhh. Don’t care either way, but cool if it does. Personally I don’t see dabbling in crypto again any time soon.
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Sanrith Descartes
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Tmac
Adventurer
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Sanrith Descartes
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Mist
REEEEeyore
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Apparently SpaceX and Tesla just dumped everything they had on the market, but getting confirmation is hard.
Sanrith Descartes
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