Today the lead strategist of one of the biggest Brazilian stockbrokers made a tweet saying that, because Bitcoin can be fractioned up to its 100000000th part, the limited supply argument doesn't apply to it.
He is a CFA-certified person and it's supposed to be smart so I don't know if he's actually stupid or just spreading some good ol' FUD.
Someone replied to the tweet saying that you can also split the shit out of a gold bar. He deleted the tweet sometime later LOL
Posted Using LeoFinance Beta
He sounds like a dipshit who likes to hear himself talk haha atleast we are doing it in an inconsequential manner!
Hahaha good point
Posted Using LeoFinance Beta
Speaking of gold bars, did you know there is enough gold in space to make everyone on earth a billionaire?
Posted Using LeoFinance Beta
I never thought about that actually, but it makes sense since space is so vast!
That's probably true to the ocean as well... there's pretty much every natural element there... the trick is extracting it!
Posted Using LeoFinance Beta
Yep and technology will figure it out. That is why, in the end, commodities are deflationary. If there is a high price for a sustained period of time, technology will figure out ways to increase the supply.
Posted Using LeoFinance Beta
Lol I should make the trip to space then... I think I stumbled on this piece of I formation some years ago. It makes you question our value system.
Posted Using LeoFinance Beta
Being a space cadet could make you a trillionaire if you land on the right asteroid.
Posted Using LeoFinance Beta
There is an estimated over $500 trillion in and under our oceans.
So the idea that gold is scarce is not accurate. We just havent accessed it easily at this point. Once we do, prices will collapse.
Posted Using LeoFinance Beta
I imagine a world where gold is valueless or not valued as much. Makes the fuss over it for decades kind of a joke.
Posted Using LeoFinance Beta
Decades? Try thousands of years.
Few people remember that aluminum use to be the metal of royalty even though it was plentiful. The problem was extracting it.
Gold has maybe 30 years left in my estimation.
Posted Using LeoFinance Beta
This makes me question the call by many for the return of the gold standard given this information.
Posted Using LeoFinance Beta
Yeah, that's a silly idea
Posted Using LeoFinance Beta
Ironic that they make that call on a medium that came from fiat. People do not realize that if we still were on the gold standard, we would be still living life the 1950s.
Innovation came as a result of expanding the money supply globally. An elastic money supply is vital for a variety of reasons, not just fending off recession.
Posted Using LeoFinance Beta
The future of gold is something else. It will be used as a metal, or as a great conductor of heat and electricity, or maybe in art but not as a store of value.
Posted Using LeoFinance Beta
The rarity made it a great store of value historically. However, that could come to an end as we find more ways to extract it.
Technology does not favor scarcity.
Posted Using LeoFinance Beta
Wow. I never thought of that!
Jeff Bezos worth is $193 Billion. There are 8 Billion people on earth. If he distributes all his money equally among the population, he will still be a billionaire!
Posted Using LeoFinance Beta
I am not sure I follow your math.
$193 billion spread equally does not make 8 billion people billionaires? Each person would get about $25.
Posted Using LeoFinance Beta
Lol, you decoded the infamous SMS joke which confuses many people. I thought no one would notice but.. 🙏
Posted Using LeoFinance Beta
2 + 2 = 5.
If the media says it enough, people will believe it so we can go with your numbers.
Posted Using LeoFinance Beta
LOL that is pretty funny.
Of course, spending a gold bar is much more difficult. You think the transfer time on 100K Satoshi is long, try getting someone to cut a sliver off a gold bar.
Posted Using LeoFinance Beta
Wow I don't know what he was doing. Do you think he was drunk?
Posted Using LeoFinance Beta
Hahaha could be
But I think it's just a no-coiner trying to spread FUD
Posted Using LeoFinance Beta
LMAO. So traditional!
People who say 'bitcoin is bad', they are either evil or ignorant. Don't listen to them.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta