Bitcoin is predictably a guarantee in an uncertain world - page 2.

kryptqnick

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Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

I have this deep convincing believe that Bitcoin will change the future world of money for the better by giving everyone the same opportunities.

Tell those who speak about the use of Bitcoin ending soon should come to realize the fact that the rules that govern Bitcoin’s monetary policy are written in its source code and that is a phenomenal guarantee for all its users., today and in the future.

When you buy Bitcoin in 2020, you already know what to expect. You know that you will still own some Bitcoin out of every 21 million existing in 2050. If you didn't sell off for fiat. This is not same for paper money.

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

Bitcoin might revolutionize money worldwide, but it might not. The fact that Bitcoin holds no secrets and its supply cannot be manipulated does not guarantee its bright future. I see your point, and there is some certainty to it, but maybe that's not what the majority wants. This certainty is bound to Bitcoin itself, but we look at BTC price usually referring to what it costs in fiat money. And its price in fiat is nothing predictable or certain. And what people respect is usually the authority telling them that it's under control (and, to be fair, fiat often is), not that the code is there for them and there are some very certain things like how many bitcoins will there be at a certain point in time, but how much they'll be worth is unknown. To be fair, it's not just that Bitcoin is considered in relation to fiat. It's its purchasing power which is a defining aspect of money, and there are no guarantees regarding this purchasing power.

AjithBtc

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Bitcoin keeps growing with time, and there is better understanding about bitcoin compared to the past. This means people who termed bitcoin as a scam has now understood the real value of bitcoin and has started to invest more and more.

The world is moving on technology, and people have started to be a part of it. This means digital investment have increased a lot, and it is true that bitcoin is serving as a guaranteed investment in the uncertain World.

NVZNtoken

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It's hard to declare any possible investment a "guarantee", since aside from all the things that are predictable there are situations and events that people don't predict. Bitcoin is an investment based on solid fundamentals but a certain degree of risk in every investment, which is way investors always look to diversify their assets.

palle11

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One thing I can't agree with you about is that Bitcoin gives the equal opportunities to everyone.

I believe that if we consider op statement from the angle of investment opportunity and what can come as profit or even lose is the same thing for every investor who invested same amount whether rich or poor.
Blockchain does not know a rich person's investment or poor person, and neither the exchange know. So that is the area I think that it gives every investor the same amount in your wallet.

jekainvestor

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Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

I have this deep convincing believe that Bitcoin will change the future world of money for the better by giving everyone the same opportunities.

Tell those who speak about the use of Bitcoin ending soon should come to realize the fact that the rules that govern Bitcoin’s monetary policy are written in its source code and that is a phenomenal guarantee for all its users., today and in the future.

When you buy Bitcoin in 2020, you already know what to expect. You know that you will still own some Bitcoin out of every 21 million existing in 2050. If you didn't sell off for fiat. This is not same for paper money.

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

Personally I can not agree that BTC will give everyone the same opportunities. It depends on a person. Even in case two different people will got some day 1 BTC per person, those two Bitcoins will work in quite different way. One person may multiply it or make to work, while another person will lose even this one BTC. So opportunities can not be the same looking from this side on the question. But as for the impact of the Bitcoin and crypto on the whole world and people - yes, it will change and have already changed partly people and their thinking. But nevertheles its impact is very big on us and the world, there is still some uncertainty because the world of crypto is very changing and dynamic.

TGD

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The title itself is so confusing, combining guarantee with uncertainties. We are just used in the cycle of bitcoin since we see how its price changes. The good thing about bitcoin is it's supply is known that we know when adoption happens those who are able to buy and hold a lot will gain more just like how those who held BTC before 2017 and was able to profit during those times.
But it's still not guaranteed when will it happen again, its still not guaranteed due to many circumstances that may happen along its way. So we still better know when to stop loss if things didn't happen the way we plan or assumed it to be.

The Cryptovator

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Nah, I wouldn't agree with OP. There isn't any guaranty at all. We can't determine the value of bitcoin and the price of bitcoin, its totally depend on the community. Whoever bought bitcoin at 2017, they had expected something good. But what happen eventually? They regret when dump the price. So whoever will buy 2020, we don't know what they are going to get. Price would be bump or dump at any time. What we encountered today, there is sudden fall of almost $1.5K bitcoin price. So how you can give guaranty? Bitcoin is the most volatile currency, guaranty doesn't fit with it.

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Quote from: Pacific10 on September 04, 2020, 08:43:11 AM

Quote from: suzanne5223 on September 04, 2020, 08:28:46 AM

Quote from: Jating on September 04, 2020, 05:55:03 AM

Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

As compare to gold? Bitcoin hasn't been tested as a good hedge against uncertainty though. Hedge mean that an asset that can't easily affected or influence by the market. And we know that bitcoin is very unstable and be definition can't be a 'true hedge'. As compare to let's say gold, it's been tested, specially in ww2.

On contrary, Bitcoin have been tested as hedge against uncertainty several times when the government wants to ban it and the strength it posed during the pandemic which was what also captivate people like Kiyosaki.

Exactly my opine. In the face of the lockdown when fiat currency seems to be of less value in correlation to what could be acquired for safety, companies being sealed etc. bitcoin stood and many country's central banks are beginning to formulate policies to accommodate them.

I understood what inspired your message once I saw your thread but for Bitcoin to be a total guarantee hedge in an uncertain world we still need a better solution in terms of scalability, making Bitcoin to be easy to use for both young/older people and the government stance toward Bitcoin to be positive.

tyz

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I agree with you in some of your points but not in the predictability. I don't think Bitcoin and cryptos are really that predictable. The prices also depend very much on political acceptance. If there should be e.g. a world-wide prohibition of crypto currencies (up-to-date it does not look like it), then the prices could go fast down. In addition also nobody knows how the arising national digital currencies will affect the crypto currencies.

bitsurfer2014

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Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

Many would tend to agree but if we look at CMC right now, Bitcoin and almost all cryptocurrencies are bleeding bad - possibly due to recent stock market slump but lets not worry about this, its a regular thing in crypto markets. I do hope your assumption would eventually come true.

Pacific10

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Quote from: suzanne5223 on September 04, 2020, 08:28:46 AM

Quote from: Jating on September 04, 2020, 05:55:03 AM

Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

As compare to gold? Bitcoin hasn't been tested as a good hedge against uncertainty though. Hedge mean that an asset that can't easily affected or influence by the market. And we know that bitcoin is very unstable and be definition can't be a 'true hedge'. As compare to let's say gold, it's been tested, specially in ww2.

On contrary, Bitcoin have been tested as hedge against uncertainty several times when the government wants to ban it and the strength it posed during the pandemic which was what also captivate people like Kiyosaki.

Exactly my opine. In the face of the lockdown when fiat currency seem to be of less value in correlation to what could be acquired for safety, companies being sealed etc. bitcoin stood and many country's central banks are beginning to formulate policies to accommodate them.

Pacific10

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Quote from: ChiBitCTy on September 04, 2020, 07:07:20 AM

Like yourself I am very positive about bitcoin moving forward, especially with all the issue going on in the world and during this crazy time in our lives. Now I can't agree that it's a "guarantee", as guaranteeing anything is a fools game. There are certainly never any guarantees in the financial world, especially for a digital currency.

"It is often said that Bitcoin is a hedge against uncertainty. And that's it". I am not sure what you mean about this exactly. Do you mean bitcoin is used as a hedge in a good way or people say it's the only positive factor of bitcoin?

Let's read my statement in comparison to fiat currency.

larus

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Bitcoin is guarantee of that? How so unstable asster can be a guarantee of anything?

suzanne5223

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Quote from: Jating on September 04, 2020, 05:55:03 AM

Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

As compare to gold? Bitcoin hasn't been tested as a good hedge against uncertainty though. Hedge mean that an asset that can't easily affected or influence by the market. And we know that bitcoin is very unstable and be definition can't be a 'true hedge'. As compare to let's say gold, it's been tested, specially in ww2.

On contrary, Bitcoin have been tested as hedge against uncertainty several times when the government wants to ban it and the strength it posed during the pandemic which was what also captivate people like Kiyosaki.

Quote from: Jating on September 04, 2020, 05:55:03 AM

And btw, bitcoin is predictable? it became a speculative asset and obviously, it is not predictable. Have you seen the crash in the last 24-48 hours? totally unexpected.

Every investment has its own risk involve even Gold and if you're investors that follow the whale's movement you'll notice that there some dump going on.

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Quote from: ChiBitCTy on September 04, 2020, 07:07:20 AM

Like yourself I am very positive about bitcoin moving forward, especially with all the issue going on in the world and during this crazy time in our lives. Now I can't agree that it's a "guarantee", as guaranteeing anything is a fools game. There are certainly never any guarantees in the financial world, especially for a digital currency.

"It is often said that Bitcoin is a hedge against uncertainty. And that's it". I am not sure what you mean about this exactly. Do you mean bitcoin is used as a hedge in a good way or people say it's the only positive factor of bitcoin?

In my own opinion about what the OP said regarding guarantee, is after you have bought some Bitcoin, you will have a guarantee to keep it after how many years if you didn't sold it out. you still have it even after your death because no one could get it from you unless they stole some necessary things to access it. if not, then the guarantee is a fact after so many years has passed the bitcoin is still there on your wallet.

ChiBitCTy

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Like yourself I am very positive about bitcoin moving forward, especially with all the issue going on in the world and during this crazy time in our lives. Now I can't agree that it's a "guarantee", as guaranteeing anything is a fools game. There are certainly never any guarantees in the financial world, especially for a digital currency.

"It is often said that Bitcoin is a hedge against uncertainty. And that's it". I am not sure what you mean about this exactly. Do you mean bitcoin is used as a hedge in a good way or people say it's the only positive factor of bitcoin?

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Quote from: Jating on September 04, 2020, 05:55:03 AM

Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

As compare to gold? Bitcoin hasn't been tested as a good hedge against uncertainty though.

Uncertainty could have several connotations to it, Bitcoin could be seen as an alternative to the uncertainty in supply of cash, credit crisis and other fiscal policies the banking sectors implement which affects the nation's economy. Bitcoin has the qualities of immutability, decentralization and a fixed supply which makes it a good hedge against centralization.

Quote from: davis196 on September 04, 2020, 06:38:51 AM

So you want to buy BTC and HODL until 2050?This sounds crazy. Grin

That really is not that crazy. There are people who are investing in Bitcoin which would be accessed by their kids in 10-20 years, 2050 from then is not far off.

davis196

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Quote from: Pacific10 on September 04, 2020, 05:07:59 AM

I have this deep convincing believe that Bitcoin will change the future world of money for the better by giving everyone the same opportunities.

Tell those who speak about the use of Bitcoin ending soon should come to realize the fact that the rules that govern Bitcoin’s monetary policy are written in its source code and that is a phenomenal guarantee for all its users., today and in the future.

When you buy Bitcoin in 2020, you already know what to expect. You know that you will still own some Bitcoin out of every 21 million existing in 2050. If you didn't sell off for fiat. This is not same for paper money.

It is often said that Bitcoin is a hedge against uncertainty. And that's it.

What do you mean by "giving everyone the same opportunities"?Only people with fiat money have the opportunity to buy Bitcoin.The poor will stay outside the crypto community.Do you consider this to be "the same opportunities"?
I don't quite understand what do you mean by "still owning some Bitcoin out of every 21M existing in 2050"
So you want to buy BTC and HODL until 2050?This sounds crazy. Grin

The rules of Bitcoin are written in it's source code,but that doesn't mean that they can't be changed.

hd49728

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Bitcoin in particular and the cryptocurrency in general as well as crypto market will be under targets of governments and I am sure that governments will do more and more requirements on crypto exchanges. I don't know when it will happen but in the meantime, you can enjoy current level of freedom you have with crypto and crypto exchanges before you will lose it gradually.

It is on exchanges and when you sell your crypto on exchanges. Fortunately, as per protocol of bitcoin, it is decentralized and it was created to destroy the bank system, you will have somewhat of freedom. It is the matter on your side: How you store your bitcoin, how you sell it, how you keep your bitcoin transaction anonymously, etc.

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I'd say a better Bitcoin/crypto in terms of decentralization coupled with its other useful ideals is a good hedge against uncertainty. I think that is fair example of anti-fragility. The less decentralized, the less safe it becomes. A better decentralized Bitcoin system/network can also serve many very useful purposes than fiat and even gold. People will really understand this in times of serious crisis not by just mere theory

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