discipleofsteel
discipleofsteel t1_iy5ziu4 wrote
Reply to comment by pixel_of_moral_decay in BlockFi (JC registered company) Bankrupt by driftingwood2018
Bitcoin didn't tank. It experienced a speculative bubble and the bubble popped. How much is Bitcoin worth? It isn't. It has value in it's utility as a medium exchange in the scenarios I mentioned above. Beanie Babies were a fun toy, then a speculative bubble worth a fortune, and then a fun toy again. You'd have to be a gambler or an idiot to risk money you can't afford to lose speculating on the value of anything.
Regardless, the current price of Bitcoin in USD, is entirely irrelevant to any of my arguments.
Of course it's "kept afloat by it's investors". Literally everything is. The USD is backed by faith that the US pays it's debts. Anyone who buys that debt is an investor. If foreign nations stopped buying US debt the US economy would collapse.
discipleofsteel t1_iy5dil6 wrote
Reply to comment by pixel_of_moral_decay in BlockFi (JC registered company) Bankrupt by driftingwood2018
Thats literally how fractional reserve banking works...
I mean yeah, not "everyone" can do it. But they're still just assigning themselves value. It's all faith and credit. Again I argue the only difference is the centralization.
discipleofsteel t1_iy577dz wrote
Reply to comment by pixel_of_moral_decay in BlockFi (JC registered company) Bankrupt by driftingwood2018
I mean all banking is "just a record". It's the pseudo-decentralization which is novel.
discipleofsteel t1_iy49fma wrote
I have an account with some coin locked up. I do believe in the value of cryptocurrency, but as a means to transact in hyperinflationary environments and in oppressive regimes. Not as a get rich scheme.
discipleofsteel t1_ivthnv3 wrote
Reply to comment by Acceptable_Reading21 in Costco’s never wrong! Case closed. No pun intended. by Electronic-Nature114
I've seen delis have two separate listings on the menu, one for pork roll and one for Taylor ham.
Bacon, not so much. Hunts vs Heinz, probably. I mean I guess technically a knockoff is supposed to try and pass off as another product? Idk.
discipleofsteel t1_ivtflwp wrote
Reply to comment by Acceptable_Reading21 in Costco’s never wrong! Case closed. No pun intended. by Electronic-Nature114
It doesn't though. If I ask for a band-aid I don't want no knock off product. Asking for something by brand, or conversely, a menu listing Taylor Ham as opposed to Pork Roll does not mean the other is wrong. But a menu offering Taylor and serving Case's should technically be an issue. Though personally if it's cooked right, sliced to a proper thickness, and covered in pepper and ketchup and hot sauce anyway, I don't tend to care.
discipleofsteel t1_j0b8cgc wrote
Reply to Public transportation drivers are terrible. by Accomplished-Log-664
You also get what you pay for. High stress, high liability job. I imagine the good drivers are going to haul something more lucrative than the bus-fare paying public.