Here we go again.
Bitcoin cannot become conventional mean of transactions (money), because it is inherently deflationary (its limited supply means that it is better to hoard it rather than buy things with it). Fiat currency may be replaced by CBDCs, but not by bitcoin et al. Can it become a more conventional asset, aka modern gold? Unlikely, for many reasons. Most likely scenario is that Bitcoin will remain highly volatile speculative asset, until some some sort of regulatory clamp down or other mishap.
Mangirdas AdomaitisArtificial inteligence, Data science
Some optionality needed to hedge against increasing fiat money supply.
about 2 months ago·
1
Jason BaselCEO @ EduOne, Adventurer
I agree on that it can't serve as a currency, partly because the primary value proposition - which as I see it is 'decentralisation', which is only useful if there is a lack of trust in institutions issuing fiat - is null and void, because I don't see evidence of a systemic lack of trust in issuing authorities. So this doesn't seem like a legit value offering?... RE the gold/commodity argument, maybe this has more merit? Gold has very little value in commercial use (jewelry and industrial use cases account for maybe 10% of annual production), and yet it's price in the secondary market is entirely independent of fluctuations in commercial demand. So it is propped up on 'belief' that it is an asset? There is little underlying value.. Surely BTC or the class as a whole can be a 21st century equivalent?
about 2 months ago·
1
Can you teach me how to invest?
Asked by Andrew Lim Mao Tung
Hey Andrew, I can support you by sharing how I learnt to read financial statements and create a story behind securities' valuation methods. But I would rely on people who spent time professionally and have the right credentials to educate about investing.
3
Two of my favourite bubbles have merged! :)
Bitcoin transactions consume close to 100TWh energy per year, most of it produced in coal-fired plants. It will be harder for Musk to pretend it is all about saving the planet.
But it is not completely unexpected - losing market shares, revenues stagnate, can’t make profit selling cars, what is there left to do? Speculate in cryptocurrencies, of course.
9
Battery electric vehicle market shares in EU.
One producer is losing market shares faaast...
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