I am not missing anything in life by not participating in a decentralised ponzi. I definitely get your motivation to keep finding new idiots to bring their real money in the game so grifters can unload their magic tokens for real cash.
How much of that "real cash" is there right now? No one really knows.
How much of that "real cash" will there be in the future? No one knows.
What happens to the value of something when you can digitally create an infinite amount of it in a database at a central bank, controlled by a handful of bureaucrats?
Try to answer those questions with the smallest amount of intellectual honesty and I'll think you'll find the value of your "real cash" isn't based on very much.
Forget about Bitcoin and just answer those questions about fiat money.
You say Bitcoin is real money because it is limited in supply (artificially since it's essentially a variable defined in the code) so that makes it deflationary. Anything deflationary in nature can't be money. I won't explain basic economics to you. Go find out why. But then you act like Bitcoin is a security, a speculative asset because it's value will only go up in future (again thanks to limited supply).
Real cash is something that you can buy real goods and services with. Something that I can pay my bills with. You guys have a problem with central governments seemingly creating money out of thin air because you think it devalues your money. Your whole concept of money is wrong. You confuse money (a medium of exchange/short term store of value) with security (long term storage of value).
You know what gives money any value even if it is printed out of thin air? Trust. I trust that I can exchange that money for food, for a house, for clothes, a movie ticket, anything that I want. Where does that trust come from? That trust comes from the stability of the government, the law and order systems, the ability of the sovereign to protect its land and people with those guns and tanks. What gives Bitcoin a value? Nothing. If I cannot find a bigger fool to sell my Bitcoin, it's worthless.
Bitcoin is neither money (deflationary), nor a security (no inherent utility). This is plain truth. Other than a handful of crypto suckers everyone understands it. Hope you get this simple truth one day.
> You say Bitcoin is real money because it is limited in supply
The limited supply just makes it better money.
> (artificially since it's essentially a variable defined in the code)
Sure, anyone is free to change the necessary variables. It's open source code. Good luck getting everyone else to run nodes that use the changed code. That's the point of distributed consensus. You can change the rules all you want, but other nodes in the existing network will ignore you, creating a separate network. This kind of thing has already been tested with various hardforks and the blocksize war.
> Anything deflationary in nature can't be money. I won't explain basic economics to you. Go find out why.
There's nothing to say money has to be inflationary, except the 'rules' and theories that people have made up, like MMT. The current system is built around inflationary money, but that doesn't mean it had to be that way. It's just one way to operate an economy.
> But then you act like Bitcoin is a security, a speculative asset because it's value will only go up in future (again thanks to limited supply).
Currencies are speculative assets. That's what forex markets are for. People trade them against each other. Bitcoin is no different. It can be money and a speculative asset.
Also, your definition of a security is unclear. As far as the SEC is concerned it doesn't apply to Bitcoin as Gary Gensler has stated numerous times.
> Real cash is something that you can buy real goods and services with. Something that I can pay my bills with.
You can pay for real goods and services with Bitcoin, albeit in a limited capacity at the moment, but we're only 14 years into this experiement (less for the Lightning Network), which is VERY early for a new form of money... adoption and trust will take time i.e. decades.
> You guys have a problem with central governments seemingly creating money out of thin air because you think it devalues your money.
It does devalue your money. This is a fact. You can't deny that.
You can argue the virtues of inflationary money all you want, you could argue there are legitimate uses for that that type of money, but it comes at the cost of devaluing people's savings in cash. This entrenches generational poverty.
> Your whole concept of money is wrong. You confuse money (a medium of exchange/short term store of value) with security (long term storage of value).
No, I understand those concepts well.
> You know what gives money any value even if it is printed out of thin air? Trust.
This is literally Bitcoin 101.
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."
"Trust" is mentioned by Satoshi 13 times in his short whitepaper.
> I trust that I can exchange that money for food, for a house, for clothes, a movie ticket, anything that I want. Where does that trust come from? That trust comes from the stability of the government, the law and order systems, the ability of the sovereign to protect its land and people with those guns and tanks.
You talk as though you think money requires government to exist. Money has spontaneously emerged in various societies throughout human history that didn't require a top-down central authority to enforce its use, the best of which was gold for thousands of years. Governments minted coins from gold, but people only used it because they trusted the underlying asset as something that would hold its value, regardless of who was in power.
> What gives Bitcoin a value?
It's digital money with credible scarcity that's global, permissionless, neutral, and open to everyone to use.
> If I cannot find a bigger fool to sell my Bitcoin, it's worthless.
Not looking to sell my Bitcoin, only spend it. There's a difference.
> Bitcoin is neither money (deflationary)
False.
> nor a security (no inherent utility)
You have no idea what you're talking about.
> This is plain truth
I guess if you say so it must be true. I guess I'll just have to... trust you?
> Hope you get this simple truth one day.
I will be fine thanks. Hope you see the simple truth I've seen.
