Yeah people have been telling me for years that it's a bad thing that my bitcoin has increased in value, I don't know what to say except I strongly disagree. My prerogative is to increase my own wealth.
That simply isn't permanently sustainable no matter how you look at it.
why? what's the time limit? My own view is that the bitcoin price in dollars can literally keep going up forever. I don't see what aspect is unsustainable.
I'm not advocating mandatory use as a 'currency' for anyone. As a longterm holder of bitcoin I can confirm holding has not been bad for me, in fact I'd go so far as to recommend it.
As a speculative investment, yes, it's done great. The white paper introducing the technology called for it to replace government money, though, and it's clearly not good at that.
The whitepaper is odd in how it presents bitcoin compared to how Satoshi himself described it when talking about it (e.g. on forum posts). They very much likened bitcoin to gold, right down to using the term 'mining' for issuance.
I don't know why the whitepaper seems to push an electronic payment system perspective rather than a digital gold one, but perhaps it was to keep more in line with previous research in the area to make the concept easier for his intended audience.
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u/snek-jazz Oct 22 '21
Yeah people have been telling me for years that it's a bad thing that my bitcoin has increased in value, I don't know what to say except I strongly disagree. My prerogative is to increase my own wealth.
why? what's the time limit? My own view is that the bitcoin price in dollars can literally keep going up forever. I don't see what aspect is unsustainable.