Is Bitcoin viable or sustainable without a Strong US Dollar to back it up?

[JOE]

You can keep your little coin collection Jo Jo, when you move in with me.

No thanks.

Why do you even consider yourself a conservative?

You know many of the posters here hate you.

Especially in America.

I lived there for 5 years.

They said shit like "We don't want no fags in our military."

You take a lot for granted in this country where you're accepted and the laws protect you.

But in traditionally 'conservative' countries, they don't.

You'd find that out if you lived elsewhere.

[Thiel]

No thanks.

Why do you even consider yourself a conservative?

You know many of the posters here hate you.

Especially in America.

I lived there for 5 years.

They said shit like "We don't want no fags in our military."

You take a lot for granted in this country where you're accepted and the laws protect you.

But in traditionally 'conservative' countries, they don't.

You'd find that out if you lived elsewhere.

They do not love me as much as you do or will Jo Jo,

[Oerdin]

Crypto is junk and will go to zero.

[Seamajor1]

Crypto is junk and will go to zero.

Thank you sir. A suckers bet

[Adolf Oliver Bush]

[JOE]

Thank you sir. A suckers bet

I don't know what the future holds for Bitcoin

Maybe it'll keep goin' up 'n up.

Still I don't see how anything without any tangible assets or collateral backing it can keep increasing in value. Its value seems to be numerous investors piling their money into it and nothing else. Other words a Big Pyramid scheme.

I think it's too late to make big/whopping profits from it because it has already peaked. If a person buys into now, then they missed all the past gains. seems pointless since 1 Bitcoin is worth 20 ounces of real gold. Id rather spend that money on gold myself.

Maybe they invented AI just to pump up Bitcoin's value.
So we'll believe the lie.
Same with the stock market & they never let it fall no matter what.
Unless the can't hide the lies no mo'.
Everything seems so fake now, including the money we use.
It's all backed by electronic wizardry and algorithms than actual value.

[TheProwler]

Same with the stock market & they never let it fall no matter what.

Yeah, all those companies with all that land and all those buildings and all those assets doing all that business making all those profits cannot really be worth any money, right Retard Joe?

[Adolf Oliver Bush]

Any item, no matter what it might be, is only worth what people are prepared to pay for it. That's how it works.

So as people lose confidence in government controlled fiat currency, a peer to peer system of secure trade that avoids middlemen (like governments) will seem to more and more people like a better option, volatility issues notwithstanding.

Governments (particularly the more authoritarian ones) know this and it shits them. They desperately wish they could clear the table and control the house with their friends. Hence the constant tales of how bitcoin is going to crash and burn soon. Should the current holders of bitcoin stocks get skittish and bail out, who do you think is going to be waiting eagerly to pay cents in the dollar?

Bitcoin will eventually fail of course. Every system does. We could have a Carrington Event or a barrage of EMPs go off tomorrow that bricked every computer and wiped every last computer backup and Bitcoin would be sunk.

So would all your bank accounts and any hard currency you might be holding. You can try eating it, but it's not exactly nutritious.

[JOE]

Any item, no matter what it might be, is only worth what people are prepared to pay for it. That's how it works.

Governments (particularly the more authoritarian ones) know this and it shits them. They desperately wish they could clear the table and control the house with their friends. Hence the constant tales of how bitcoin is going to crash and burn soon. Should the current holders of bitcoin stocks get skittish and bail out, who do you think is going to be waiting eagerly to pay cents in the dollar?

Bitcoin will eventually fail of course. Every system does. We could have a Carrington Event or a barrage of EMPs go off tomorrow that bricked every computer and wiped every last computer backup and Bitcoin would be sunk.

I wonder if this is true of certain kinds of real estate as well. ie - condos and townhouses.

Right now in Vancouver, I just see condos sprouting  up everywhere like weeds. They're just tearing every building over 40 years that they can, and putting up these new ultra expensive high rises everywhere with units selling at $1 million or so. The Powers that be in our city call that 'sustainable development'. However in reality is anything but. Even new rental units are twice as high as what they replaced. Whereas the renter once paid $700-1000 a month the new ones cost $2000 and up. And that's not  'urban renewal' or sustainable development. It's just a bunch of greedy politicians and developers lining their pockets. Meanwhile our homeless problem keeps getting worse.

Thing is, like bitcoin, these are also artificial entities like you point out - what the market is willing to pay. The buyer supposedly buys into fractional ownership of the land, but it seems rather tenuous. I'm thinking we could have a crash of all these shitbox RE developments in Vancouver and parts of Canada one day. It's all funded and owned by China Inc anyway.

For that reason, I'd rather stay away from them, given the precarious economic situations these days. Ironically there are plots of land not too far away that are cheaper than many of these city condos. A person can actually build and grow food on them. They also seem to fit the traditional definition of land ownership if at all possible.

Just like the way you have described bitcoin, I think the Powers that Be don't want people to live in detached houses on land that they own anymore. Because that way, they can pull the carpet out from under people and take what they 'own' away from them. Or change the definition of land ownership so that it becomes prohibitively expensive for them to hang onto. Keep jacking up the strata/HOA fees on them.

I gather that the Elites figured out that that people owning their own land is a hindrance to them because it gets in their way of societal control. People who own their own parcels of land have real power. They can block new developments. They have a real say in how a city or country is run. So of course they want to eliminate that obstacle.

There's a parallel between condos and bitcoin. Because everything becomes this unreal, artificial entity. Likewise, these artificial forms of real estate could crash just as hard as bitcoin one day.

[Adolf Oliver Bush]

* Adolf Oliver Bush just shakes his head at the above

[Lokmar]

Buy low, sell high. Nothing new here.

[Adolf Oliver Bush]

Yeah, I guess I shouldn't be surprised at Joe's effort. Wish that Thiel would hurry up and assfuck some sense into the old bugger.