What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
Therefore, the very idea of a decentralized cryptocurrency is very good, but as for the price, I am absolutely not sure that it will grow to cosmic heights. In addition, it will always be possible to create another cryptocurrency even with improved functionality, which will have a much lower price. Will investors choose a name or functionality? According to the laws of the market, they will choose functionality. 
Topic: What is the point of Bitcoin if we all are getting cucked anyways? (Read 584 times)
October 13, 2019, 06:07:57 AM
January 17, 2019, 12:24:37 PM
The limited number of bitcoins will affect price increases, and with increasing demand for bitcoin it will enable growth, and in the future bitcoin will be used more so that its value will continue to increase.
January 15, 2019, 09:08:16 AM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
usd,cad is controlled by the bankers while bitcoin gives you complete freedom over your money and it is controlled by you. Limited supply makes it more valuable asset as long as people are using it. Unlimited supply isn't a good thing when it comes to money.
January 15, 2019, 08:19:44 AM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
usd,cad is controlled by the bankers while bitcoin gives you complete freedom over your money and it is controlled by you. Limited supply makes it more valuable asset as long as people are using it. Unlimited supply isn't a good thing when it comes to money.
January 15, 2019, 08:09:24 AM
in my opinion the advantage of the limited number of bitcoins is the existence of the bitcoin exchange rate itself if we see as an example of a country that produces large-scale money without any control so instead of being profitable the country becomes poor because the money they produce is worthless
January 15, 2019, 12:56:54 AM
Limited supply is the one that makes bitcoin become valuable and will be more valuable when more people wanted it, the unlimited supply onky going to cause inflation, because the more fiat being print the value will be drop down and too much fiat in a country will cause the cashflow become stagnant which will make the inflation become worse, that is why a country with debt can't just print out money to pay
January 14, 2019, 08:41:07 PM
no, if the situation is still the same as now. unless there is a platform that accepts bitcoin as a payment tool, then we can still use bitcoin to buy something.
January 14, 2019, 07:00:37 PM
You clearly haven't thought very well about this or at least make a little search before asking. Do you really think an unlimited supply of something is good for people? This is the question you should ask, because money can be printed anytime and they can never disappear so why people still think they are better than cryptocurrencies? On a long term the value of fiat will drop because of inflation, while bitcoin only has a limited supply so its not that easy to get them. Now, you can still buy bitcoin from anywhere because there are a few more millions of bitcoins available for mining but after that is going to end, the process of bitcoin will go up like a rocket since everyone would have their own bitcoin and other people are going to want that.
January 14, 2019, 05:42:40 PM
Haven't you heard of fractional reserve ? it's where banks lend money that they dont actually have then charge you with huge interest. That's why bank runs are currently happening right now. Soon your proud fiat system will crumble.
People unfortunately are subjected to the same nonsense here in the crypto world. I'm certain that if people withdraw every satoshi from their exchange, that the exchange just can't have them all be processed. Now people have their fiat locked in the banking system, and their crypto locked in unregulated exchanges that could choose to disappear tomorrow.
People have a lot to learn when it comes to respecting how precious Bitcoin is when it comes to taking care of your own finances. Eventually, when everything around these people starts to implode, they will finally realize the importance of Bitcoin.
They say that you're never too late, but I'm not sure if that applies here.
January 14, 2019, 01:38:48 PM
We can assume such an outcome of the event. This is not a problem for States, and all decentralization will be exhausted! Moreover, there is already news that some plan to replenish the state reserve with bitcoins. But I think there is some option to prevent this!
January 14, 2019, 01:16:59 PM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
I believe everyone here will be preferring their bitcoins to get bought but for the prices they will be quoting. What is the point of buying all the bitcoins ? They will sell after that for lower prices? I believe no one will sell for losses. Bitcoin will match with its limited supply to those fiats even they all are having unlimited supply. I am not sure that you are right with your point of buying all the bitcoins will make them winner against the seller.Basically bitcoin will have more value according to demand hence sometimes you might not able to cover even with your unlimited fiat's supply (this must be an extreme scenario and may not be possible in near future).
Moreover bitcoin can have any number of units as electronic payments are known for infinitely divisible.
January 13, 2019, 08:26:31 PM
The most important part of having bitcoins is having financial freedom and total control over your money the reason why more people are investing into it. Is because they're sick and tired of banking institutions exploiting their costumers in debts and regulations. Haven't you heard of fractional reserve ? it's where banks lend money that they dont actually have then charge you with huge interest. That's why bank runs are currently happening right now. Soon your proud fiat system will crumble.
January 13, 2019, 08:10:19 PM
I look at it as a kind of social experiment, for a lack of a better term. The fiat money system has many flaws, Bitcoin tries to correct them. Now it's a matter of wait and see how it all turns out.
January 13, 2019, 07:50:27 PM
can buy it all?
They cant buy every Bitcoin as the entire monetary base is not available for purchase, some of it is only available via mining new blocks. I think you are talking about cornering the market which has been tried in a few commoditys and generally is acknowledged not to work out in favour of those buying
It would not be a success for a central bank to print money to buy Bitcoin. Quite a few people would be selling their bitcoin and exchanging back to FIAT, this always happens with every rise in price. So the flow of new money back to FIAT causes inflation and will show as lower value for that currency, which means more of them are required in exchange for one bitcoin.
It seems unlikely to work out but its interesting question all the same, there are many unstable national banks which might even attempt this one day. I can only imagine US dollar being able to succeed to any extent as the majority of the UN holds USD in capital reserves
January 13, 2019, 05:48:11 PM
You have a crude understanding of money OP. Printing money isn’t a zero sum game. As they print and buy bitcoin the purchasing power of bitcoin will rise and rise. Eventually they will have printed piles of worthless fiat and still not own even half the BTC.
January 13, 2019, 03:24:40 PM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
That it can printed at any time doesn’t mean you can just keep on printing. If you keep on printing money just like that, then value of the country’s currency will drop. As for Bitcoin, it is limited and we all know that. But as the demand for it continues to increase you will see that the value will also continue to increase at the same time. It will reach a time where you won’t talk about buying a whole Bitcoin, rather you will talk about buying in fractions (that’s in satoshis) January 12, 2019, 07:18:31 PM
The point is that unlimited supply (fiat) can buy everything and is centralized so its value is stable and declared by the government.
While bitcoin (limited supply) isn't controlled by the gov't which has its own value predicted by its supply and demand through us . I don't know if this answer will satisfy you.
But what is the point of having a money supply that is limited like btc when another unlimited money supply can buy all of that supplyWhile bitcoin (limited supply) isn't controlled by the gov't which has its own value predicted by its supply and demand through us . I don't know if this answer will satisfy you.
Your question is confuses me to be honest and I don't know what answer can satisfy your question. Could you please give your point with that question? if my answer doesn't satisfy you, let's wait if someone can explain it better until you get satisfaction.
For easier thoughts, imagine that you are selling something which you can make it freely? What it's like? Unlimited? Nah, you're wrong you were just making it worse, everything is connected in the society because everything is a fixed data already.
January 12, 2019, 05:23:36 PM
This would only work if you were able to buy all Bitcoins for fiat. The supply circulating on exchanges isn't even half of all Bitcoins in existence. Even if you were able to make accounts on all exchanges in the world you would be able to buy maybe 30% of all coins present on exchanges because a lot of it is being held there and used for active trading. Not sitting on open positions and can't buy coins from accounts they have to be up for sale. Buying all coins is impossible.
January 12, 2019, 04:36:16 PM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
Your value of currency will be Zero if you are using an unlimited supply money,so you need to learn how the money are getting value,even the fiat money like USD or others are not unlimited but no specific limit level for it,it can be printed as much as the banker wants so the value will get decreased if they keep printing so if you are still trusting the fiat when we have something like bitcoin. January 12, 2019, 04:19:07 PM
What is the point of having a limited money supply like bitcoin when a unlimited money supply like fiat(usd,cad,euro,yen) can buy it all? the bankers still win no?
This is the meaning and value of bitcoin.The endless emission of fiat money creates inflation and ultimately makes people poorerIn many countries, the national currency is not tied to anything.This is a problem.Bitcoin is ready to solve this problem by creating a limited number of coins that will grow in price over time.The main problem is that not everyone can get bitcoin.And the one who has money can own, if not all, almost all bitcoin.Logically, the bankers still win this race. Jump to: