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Thread: More Ron Paul Followers Prefer Bitcoin To Gold

  1. #31
    Quote Originally Posted by PierzStyx View Post
    Scarcity is the only thing that gives money value.


    No one gives a damn if you work hard shoveling coal all day. You're only going to get paid $5 a hour.


    Why do people choose gold over say granite? Simple. Because granite rocks are much easier to come by. Gold is a more scarce commodity.


    As for Bitcoin, when gives it value is people want a scarce commodity that can be exchanged easily online. Bitcoin meets that demand perfectly.
    Exactly.

    All Im referring to is that there is a difference between Natural Scarcity and Artificial Scarcity.

    Cant print up more gold. But one can cause a shortage in gasoline by limiting the production of oil refineries, which creates an artificial scarcity which drives up prices.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.



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  3. #32
    Quote Originally Posted by dannno View Post
    The actual value of a bitcoin is currently $16,893

    The platform is valuable because it allows people to trade or transfer that value.

    There is no other platform that can replace bitcoin as easily and cheaply with all of the same benefits, so thus bitcoin itself has a lot value.
    There are thousands of crypto platforms, and most are probably better than bitcoin's platform. Should they all be worth more than bitcoin? According to your logic any item listed on a blockchain has value. A grain of sand doesn't have much value by itself, would it have more value if we listed it on a blockchain?



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  5. #33
    "The actual value of a Bitcoin is"...
    Only if you accept the arbitrary denomination. What does the integer 1 in "a Bitcoin" actually represent? It's there anything other than a conceptual understanding of digits that makes .1 Bitcoin more or less valuable that .01 Bitcoin or 1 Bitcoin?

    Doesn't 1 Bitcoin have exactly the same properties as 100 Bitcoin or .001? Isn't the only way to distinguish the difference between 1 Bitcoin and 100 Bitcoin is to look at the number? Isn't that exactly the same thing as a dollar bill vs a 10 dollar bill?

    A Bitcoin is nothing more than an arbitrary number assigned to a fiat transaction. Isnt its value indistinguishable from the value of whatever fiat it is exchanged for?

    Without converting to fiat, there simply is no way of measuring the value of an arbitrary number.

    The only property of any arbitrary fraction of the arbitrary number called a Bitcoin is the arbitrary number assigned to it.

    It's like me asking you how much food will you give me for 1 blahblehbleebllook? Well if someone was willing to give you $5 dollars for 1 blahblehbleebllook you'd say, a happy meal.

    The only reason to trade in blahblehbleebllooks is because someone else is willing to convert it for you. Why do we need an arbitrary number wrapper around an existing fiat system?

  6. #34
    Quote Originally Posted by Madison320 View Post
    There are thousands of crypto platforms, and most are probably better than bitcoin's platform. Should they all be worth more than bitcoin? According to your logic any item listed on a blockchain has value. A grain of sand doesn't have much value by itself, would it have more value if we listed it on a blockchain?
    The market disagrees with your premise..
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  7. #35
    Quote Originally Posted by dannno View Post
    The market disagrees with your premise..
    Yup.

  8. #36
    Quote Originally Posted by dannno View Post
    The actual value of a bitcoin is currently $16,893

    The platform is valuable because it allows people to trade or transfer that value.

    There is no other platform that can replace bitcoin as easily and cheaply with all of the same benefits, so thus bitcoin itself has a lot value.
    For now, until something better comes along. Other platforms are by far technically superior to the antiquated Bitcoin tech particularly on transaction processing times, transactions per second by volume and lower fees.

    Probably why we saw LTC, BCC picking up and now XRP surpassing Bitcoin in 24 hour volume today.

  9. #37
    Quote Originally Posted by PierzStyx View Post
    As for Bitcoin, when gives it value is people want a scarce commodity that can be exchanged easily online.
    BTC isn't a commodity. It's neither a capital nor consumer good. It has no use in itself.

    It can only have value as a medium of exchange (which it barely is) or as a speculative asset (which it mostly is).

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