[News] Bitcoin is worthless

[Mustang]

this is not news

bitcoin only has value until we consider it valuable
like gold, or fiat currency

if everyone decides gold is just another stone tomorrow, its worthless, if everyone decides the US dollar is just another paper tomorrow its worthless (not saying it will happen, it wont ever, but hypothetically speaking)

bitcoin doesnt have any underlying real life linked asset to make it "tangible" or hold true value regardless of transaction movement, however the only reason it has hype, as with any crypto is its anonymity and lack of "central control".

Actually that is another myth, that gold and dollar are completely arbitrary.

In fact gold has value because it's a genuinely useful metal. And the dollar has value because it's a tax credit i.e. the thing needed to pay U.S. taxes.

So now that we know the true backing of gold and USD, the argument: "Everything in the world is airy-fairy, so why not use something equally absurd such as crypto" is suddenly invalidated. Crypto is the only odd one in the group and the only one with zero value

i didnt invalidate the US Dollar and Gold, just gave them as examples, imagine we ought to pay taxes in Euros instead of the US Dollars, the US Dollars goes poof.
I mentioned Bitcoin isnt linked to something Tangible or "real". The US Dollar isnt either, it was with the Gold until the jews got rid of the gold standard.

And really? depending on the US Government and trusting them to have the US Dollar hold steady value? JP at Za Treasury Department is already fucking things up all over the world with his massively retarded decisions and shooting inflation up massively.

I'd rather have the US Dollar backed to Gold and make it be something tangible.

Crypto is something that lacks such backing as well, and it is indeed worthless without the transaction movement

None of you understand how the gold standard worked. You can't go to the bank and get gold. Instead the fed traded on the London exchange and set a price that nobody used in real life.

Gold standard collapsed because the trade deficit. Gold prevents trade, it doesn't stop spending at all. Capitalism is literally retards.

Implementation of a Gold standard would do literally nothing but set a fake price nobody had access to.