Graham Stephan is STILL WRONG About Bitcoin

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Информация о Graham Stephan is STILL WRONG About Bitcoin

Название	:	Graham Stephan is STILL WRONG About Bitcoin
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What's the most common FUD that you hear about Bitcoin?
Comment from : Rhett Reisman - Level Up Your Brain

Time for an actual big brain to step in brbrYour first argument about BTC trading 5x more than NYSE thus is really has decades of trading experience is wrong Regardless of how many trades BTC has made, they have all been made in the last 12 years, thus it has only experienced economic and geopolitical success and turmoil of those years BTC has not endured the fall of empires nor the greatest economic recessions known too man, but the NYSE and Gold has BTC has never been around during record levels of bankruptcy What happens when massive amounts of BTC is seized in bankruptcy and the court forces it to be sold to pay debts?? That is going to do wonders for the stored value of BTC brbrThe second go to zero argument was even shakier imo Just because BTC has a massive market cap does not mean it is warranted Every other asset or company on that list you showed is productive in some way BTC could be productive as a decentralized payment service, but the primary driver for its growth is to reach a higher price This isn't BTC becoming more productive its just more people wanting to get rich quick If people ever stop wanting for speculative reasons, BTC doesn't produce anything to hold value until speculative excitement returns IF ppl stop want gold for speculative reasons, industrial and personal use likely goes up as prices goes down This provide some sort of bottom The companies you listed has assets that can be sold, so that creates a bottom BTC bottom is likely tied to speculative interest which is too uncertain to establish anything, thus BTC can go to zero is a real thing Unlike a company that owns billions of assetsbrbrbrThe fourth argument about BTC being backed by a large network has some merit But I think it has some potentially fatal flaws One, most people trading BTC don't care about network power, they care BTC's price going up Two, if the price falls it will become less and less profitable to maintain this massive network So whales will have to keep purchasing BTC at prices not supported by actual demand in order to keep miners working Three, what good is a massive payment system if 5 of assets owners control 90 of all the asset brbrBTC lovers often mention how there will only ever be 21 mill btc That number doesn't matter, because BTC is divisible to a very small degree 1 BTC can be broken down into 100,000,000 satoshis I mean WTF?!?!? Tell me I wrong? but when you do consider how many ppl own satoshis vs how many own a whole BTCbrbrBTC will go down as the greatest Ponzi scheme in human history This is what this generation gets for thinking that just because they have technology that they can't be fooled by the oldest trick in the book
Comment from : Loving Troll