Well you own nothing except numbers on the screen, and your ownership is defined by some points in a plane that is unique and immutable, as defined by the specifications set by Satoshi and other developers themselves. I will not call this "fake rich," as those sitting in piles of numbers on their bank accounts from derivatives also lie within the same principle. Instead, I'll consider them as rich people, like the normal ones who own lots of money from successful businesses since they own something that is highly-valued by other people.
Our perception of value is something complex, and we just magically agree that something is valuable, or has value, like fiat money. If that is the case, then bitcoin is, and will be, valuable too, and if someone owns a lot of it, they are 'rich' because our perception of value says so.
Topic: Is Bitcoin for “Fake Rich”? - page 7. (Read 929 times)
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YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
A piece of code that's is used to represent value, same as paper. You can even use plastic, amber, stones etc as money. What matter is the value it represents and whether the material can't be counterfeited, is fraud-proof, will last long and can really work well as money YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
I think Bitcoin could be built in such a way that the full ledger can be printed and used completely offline. You'd will need to replicate the online Decentralization Model (or a better model) and features/principles on a physical level and have People with full Physical Ledgers (more like full nodes) verify transactions of participants in their communities.
i find it not so clear if you are hating the btc users or only the fake rich people because you said that btc will become useless once the time will come that there will be no internet and electeicity but didnt you knew that not all that who use btc are bragging that they rich . there are poor users that are humble and will be humble no matter how nuch they gain from the btc they have and there are also rich people that are investing in btc and if these people brag will you still find that offensive ? no because they are the ones that are trully rich .
If an Apocalypse happen,the only 2 valuable assets will be FOOD and WATER.
Bitcoin is a line of code(or a number),but gold is just a shiny useless metal.Will you eat gold,when you have no food?Will you buy food with gold,when nobody accepts gold?
In a post-apocalypse world,metals like iron will be more valuable than gold,because you could create useful tools with iron.
I get your point about the "fake rich class",but Bitcoin has nothing to do with iPhone or Tesla.
Bitcoin is supposed to be a currency,a medium of exchange,not a consumer product.
Rich people will always be seen as cool badass players that have high social status,it doesn't matter if they own Bitcoins,Tesla stocks,the new iPhone or something else.
Bitcoin is a line of code(or a number),but gold is just a shiny useless metal.Will you eat gold,when you have no food?Will you buy food with gold,when nobody accepts gold?
In a post-apocalypse world,metals like iron will be more valuable than gold,because you could create useful tools with iron.
I get your point about the "fake rich class",but Bitcoin has nothing to do with iPhone or Tesla.
Bitcoin is supposed to be a currency,a medium of exchange,not a consumer product.
Rich people will always be seen as cool badass players that have high social status,it doesn't matter if they own Bitcoins,Tesla stocks,the new iPhone or something else.
When you only have 1 bitcoin, you are a rich person than the other person who does not know about bitcoin. If the bitcoin price increases, that means your money will become big, but only if you sell your bitcoin. If you do not sell your bitcoin, bitcoin's money value will always change, and you don't own that money. But that will be different if you can use your bitcoin to buy something or pay for something.
We do not have to know the code inside bitcoin because we could only have that bitcoin and use it for our benefit. But yes, if there is no electricity, no internet, and you can not use your bitcoin, that 1 bitcoin will remain 1 bitcoin.
We do not have to know the code inside bitcoin because we could only have that bitcoin and use it for our benefit. But yes, if there is no electricity, no internet, and you can not use your bitcoin, that 1 bitcoin will remain 1 bitcoin.
intentionally or unintentionally became the new asset for the “fake rich”?
I don't know why you say that, if the reason is that you think they haven't real value like fiat, in my opinion, it's because they prefer to save for a higher price, they will actually get rich once they sell it at the price they have targeted.Bitcoin is good just for money grab
Year 2017 shows dont be late dont be the bag holder!!
Like all the Investment Bitcoin is no Different main thing just dont be the that last guy the bag holder.
I know this post might sound ridiculous, but I just want you to think about this…
With the current socio-economic development (worsening) of situation, rich are getting richer, poor are getting poorer. Young generations are either trapped in “forever middle class”, or slip to the poverty, or understandingly (or not) work 9-5 (in some places 9-9-6) like in modern slavery…
However, the poor (not literally poor) ones want to show off, want to get hot girls, want to get attention from rich guys, want to show they also belong to the elite class. So what they can do? – They pretend to be rich / from higher social class.
This is one of the emotions / social factors well played by iPhone in the early days. While it was not the best option from functions, from what it could do, it was priced higher than the same Android-based models. Apple refused to compete in the same old “mobile phone” space, and made out of it a life-style or new generation, where you can be upper class, while not being from there actually (google the stories people selling kidneys or taking loans to buy the new iPhone). And they succeeded! Now if you don’t have the newest iPhone – you are not cool, and “even more poor than me“, while the real elites would be buying Vertu and those phones, “fake rich” happy showing they are rich, while not being one of them. And happy to overpay for it
Then comes Tesla. While being highly disadvantageous in terms of performance, design, external/internal interior design, and anything you can imagine as compared to the available at that time cars, they overpriced the very first model, added the ESG b*shit hype, and allowed you to feel part of the “elite new community” who care about environment, who own a car like iPhone (highly manageable from phone, etc.), and they refused to compete in the same pricing category as BMW, Ford, Nisan, etc. And they overpriced it. The story afterwards you know well too
With all the “fake rich” class people needed a new way of showing they are rich, while not being rich / failing to be rich. And Bitcoin, while not being created for that purpose (or being – idk), became a perfect target. Just think about it – you can own a line of code, and nothing more, but be a billionaire sitting on a large pool of digital currency.
YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
With the current socio-economic development (worsening) of situation, rich are getting richer, poor are getting poorer. Young generations are either trapped in “forever middle class”, or slip to the poverty, or understandingly (or not) work 9-5 (in some places 9-9-6) like in modern slavery…
However, the poor (not literally poor) ones want to show off, want to get hot girls, want to get attention from rich guys, want to show they also belong to the elite class. So what they can do? – They pretend to be rich / from higher social class.
This is one of the emotions / social factors well played by iPhone in the early days. While it was not the best option from functions, from what it could do, it was priced higher than the same Android-based models. Apple refused to compete in the same old “mobile phone” space, and made out of it a life-style or new generation, where you can be upper class, while not being from there actually (google the stories people selling kidneys or taking loans to buy the new iPhone). And they succeeded! Now if you don’t have the newest iPhone – you are not cool, and “even more poor than me“, while the real elites would be buying Vertu and those phones, “fake rich” happy showing they are rich, while not being one of them. And happy to overpay for it
Then comes Tesla. While being highly disadvantageous in terms of performance, design, external/internal interior design, and anything you can imagine as compared to the available at that time cars, they overpriced the very first model, added the ESG b*shit hype, and allowed you to feel part of the “elite new community” who care about environment, who own a car like iPhone (highly manageable from phone, etc.), and they refused to compete in the same pricing category as BMW, Ford, Nisan, etc. And they overpriced it. The story afterwards you know well too
With all the “fake rich” class people needed a new way of showing they are rich, while not being rich / failing to be rich. And Bitcoin, while not being created for that purpose (or being – idk), became a perfect target. Just think about it – you can own a line of code, and nothing more, but be a billionaire sitting on a large pool of digital currency.
YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
Bitcoin is good just for money grab
Year 2017 shows dont be late dont be the bag holder!!
Like all the Investment Bitcoin is no Different main thing just dont be the that last guy the bag holder.
Bitcoin isn't just a mere fleeting craze or fad. Bitcoin isn't just a new iPhone model. It is an alternate currency or a new asset class, whichever you prefer. And whether it is cool to have Bitcoin or not, it is an undeniable fact that Bitcoin is truly decentralized, transparent, global, and so forth.
If you are one of those guys who bought Bitcoin because it is cool, then it's not Bitcoin's problem. But you should at least have an idea why it is cool. And depending on how much Bitcoin you bought, you may be truly rich or fake rich, but Bitcoin's price is more or less the same for you and me. And right now, 1 BTC is not cheap at $19,502.63.
If you are one of those guys who bought Bitcoin because it is cool, then it's not Bitcoin's problem. But you should at least have an idea why it is cool. And depending on how much Bitcoin you bought, you may be truly rich or fake rich, but Bitcoin's price is more or less the same for you and me. And right now, 1 BTC is not cheap at $19,502.63.
Post-apocalyptic scenario the only thing that matters most are shelter and food. These paper money, gold, minerals or crypto not gonna matter. It's called post-apocalyptic for reason.
However, isn't that a good thing tho if people thought of crypto more specifically bitcoin as prestigious stuff to show off? atleast the value could go up unlike the iphone for pseudo-rich people which gradually losing its value.
However, isn't that a good thing tho if people thought of crypto more specifically bitcoin as prestigious stuff to show off? atleast the value could go up unlike the iphone for pseudo-rich people which gradually losing its value.
Ironic, the fake rich, looking at the number, the number won’t lie, people can write a wall of text of lies, yet they don’t want to trust the number won’t lie, because they’re so biased, they rather believe in story than a globally recognised parameter of rich: the number won’t lies, the current number of bitcoin is standing at 19k it’s not gonna lie the current gold value is standing at 1930, it’s not gonna lie, the current blue chip value is standing at 30,000 it’s not gonna lie, yup be mature and accept the numbers.
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What is gonna happen once the post-apocalyptic scenarios come true?
Then not only Bitcoin, but all will be gone. All fiat money are fictional too, like the Bitcoin private keys without electricity.
Start collecting tangible goods - gold, silver, etc.
Learn surviving skills - archery, etc.
If you own bitcoin you don't even own a line of code. You own a number, that's it.
The Internet and mining won't go down across the world either. There are renewable solutions in Asia and Europe that'd probably be capable of taking over. 50% of power in Europe has to come from renewables, its not as far to get it up to 100% as you might think especially if technology and efficiency improves. And if the Internet goes down for good, we'll probably end up with communism while we work out what to do about it.
To own bitcoin requires some sort of intelligence too (unless you own a crappy etf or a stock) which I think is being missed here. Intelligent people can own bitcoin, you won't see an intelligent person who likes Elon musk or apple.
The Internet and mining won't go down across the world either. There are renewable solutions in Asia and Europe that'd probably be capable of taking over. 50% of power in Europe has to come from renewables, its not as far to get it up to 100% as you might think especially if technology and efficiency improves. And if the Internet goes down for good, we'll probably end up with communism while we work out what to do about it.
To own bitcoin requires some sort of intelligence too (unless you own a crappy etf or a stock) which I think is being missed here. Intelligent people can own bitcoin, you won't see an intelligent person who likes Elon musk or apple.
I know this post might sound ridiculous, but I just want you to think about this…
With the current socio-economic development (worsening) of situation, rich are getting richer, poor are getting poorer. Young generations are either trapped in “forever middle class”, or slip to the poverty, or understandingly (or not) work 9-5 (in some places 9-9-6) like in modern slavery…
However, the poor (not literally poor) ones want to show off, want to get hot girls, want to get attention from rich guys, want to show they also belong to the elite class. So what they can do? – They pretend to be rich / from higher social class.
This is one of the emotions / social factors well played by iPhone in the early days. While it was not the best option from functions, from what it could do, it was priced higher than the same Android-based models. Apple refused to compete in the same old “mobile phone” space, and made out of it a life-style or new generation, where you can be upper class, while not being from there actually (google the stories people selling kidneys or taking loans to buy the new iPhone). And they succeeded! Now if you don’t have the newest iPhone – you are not cool, and “even more poor than me“, while the real elites would be buying Vertu and those phones, “fake rich” happy showing they are rich, while not being one of them. And happy to overpay for it
Then comes Tesla. While being highly disadvantageous in terms of performance, design, external/internal interior design, and anything you can imagine as compared to the available at that time cars, they overpriced the very first model, added the ESG b*shit hype, and allowed you to feel part of the “elite new community” who care about environment, who own a car like iPhone (highly manageable from phone, etc.), and they refused to compete in the same pricing category as BMW, Ford, Nisan, etc. And they overpriced it. The story afterwards you know well too
With all the “fake rich” class people needed a new way of showing they are rich, while not being rich / failing to be rich. And Bitcoin, while not being created for that purpose (or being – idk), became a perfect target. Just think about it – you can own a line of code, and nothing more, but be a billionaire sitting on a large pool of digital currency.
YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
With the current socio-economic development (worsening) of situation, rich are getting richer, poor are getting poorer. Young generations are either trapped in “forever middle class”, or slip to the poverty, or understandingly (or not) work 9-5 (in some places 9-9-6) like in modern slavery…
However, the poor (not literally poor) ones want to show off, want to get hot girls, want to get attention from rich guys, want to show they also belong to the elite class. So what they can do? – They pretend to be rich / from higher social class.
This is one of the emotions / social factors well played by iPhone in the early days. While it was not the best option from functions, from what it could do, it was priced higher than the same Android-based models. Apple refused to compete in the same old “mobile phone” space, and made out of it a life-style or new generation, where you can be upper class, while not being from there actually (google the stories people selling kidneys or taking loans to buy the new iPhone). And they succeeded! Now if you don’t have the newest iPhone – you are not cool, and “even more poor than me“, while the real elites would be buying Vertu and those phones, “fake rich” happy showing they are rich, while not being one of them. And happy to overpay for it
Then comes Tesla. While being highly disadvantageous in terms of performance, design, external/internal interior design, and anything you can imagine as compared to the available at that time cars, they overpriced the very first model, added the ESG b*shit hype, and allowed you to feel part of the “elite new community” who care about environment, who own a car like iPhone (highly manageable from phone, etc.), and they refused to compete in the same pricing category as BMW, Ford, Nisan, etc. And they overpriced it. The story afterwards you know well too
With all the “fake rich” class people needed a new way of showing they are rich, while not being rich / failing to be rich. And Bitcoin, while not being created for that purpose (or being – idk), became a perfect target. Just think about it – you can own a line of code, and nothing more, but be a billionaire sitting on a large pool of digital currency.
YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?
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