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It does not in any way reflect the actual value of anything you might buy with it, if you would ever buy anything in the first place since as you say its designed to go up (not to mention its volatile nature). If you give bitcoin away, you’d lose.
If you buy a house with bitcoin, and bitcoin doubles shortly later. Your house isnt worth double, its worth half what you paid for it. You’d have essentially paid double the price for a house and you’ll not get that money back. In all cases you should not spend your bitcoin because as you say its designed for the value to go up.
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first of all: what you’re saying is nonsense. you give me theory when 1 bitcoin is worth 10000$
so you’re wrong
you’re arguing a store of value can’t have value because you’d store value, not spend it. 
how about thinking things through first?
before fiat money, people saved before buying something. to save, it’s better if the thing they’re saving increases in value, would you not agree?
this is why a coal miner with 5 kids could afford a house 100y ago.
Keynesianism, which you spout here, is about devaluing everything you’ve just earned, so you have to spend it now, and since you couldn’t save, you get into debt.
homes are bought on debt aka mortgage. every time mortgages by enough people can’t be paid back, we get a crisis #2008
Keynesian nonsense.
spending has nothing to do with creating value and spending is inconsistent with preserving value.
how about buying something when you can easily afford it and it won’t put you in debt or at zero?
what you argue is only true in the same framework that got NY apartments up 100x in price in the last 30y. if you own one of those, good for you. the 1% surely have no issue with permanent redistribution of wealth from the bottom to the top.
this is how a home, a place where people should live becomes one of the few ways people can escape inflation – thus making living space non-affordable for normal people.
the things people need most to live are tainted by this bullshit system we have now. homes, food, wages – all entangled with debt as money and money as debt. because that’s what fiat money is.
bitcoin is debt free and a store of value that is also money.
we have literal slave money, and the slaves seem to desperately cling to it… 
You misunderstood me so often or did not read what I said, I am not even going to bother going into specifics.
General points:
- Having math behind your coin is good, having something besides the math of real-world value is better. If each bitcoin would mark a completed F@H job, I would be somewhat okay with spending considerable amounts of electricity on it.
- Banks process transaction in 2 to 4 business days, payments are processed ASAP.
- “Unconfirmed transaction” and “transaction priority”, things common to daytrading and stock exchanges, uncommon to the daily use of money for most people.
- Bitcoin (and other CCs) are volatile! The only other place you see value changes in a minute to minute interfall is day trading. If CCs had to have a NFPA 704 style label, it would be this:
Care to explain this then?
since you liked that guy’s picture so much, here is it again
really dude?
if you are going to be a jerk at least be original
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Not following. People save now with fiat money by buying investments with that currency. So… Nothings changed?
I never said anything about that, i said you wouldn’t use bitcoin to buy anything because it will make you poorer.
Bit coin is a virtual investment vehicle can you can buy into with fiat money to make profit. You wouldn’t use it for spending, you’d be mad to consider doing that.
I write a lot, because I read a lot and – falsely – assumed that some kids in a forum are also as intent on self-education as I am
but why should you be? you already know everything 
anyone who “likes” a post that is aimed at shutting down any detailed or in-depth explanations or answers is no longer worth my time
you are just a lonely little troll that likes to type out long winded replies that don’t actually go anywhere. go back to /g/
The hostility isn’t required or appreciated on this forum. That goes to everyone. People can disagree without resorting to petty name calling or insults.
Let’s move back on topic and civilised disagreement.
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nobody saves. why should you? and how could you? banks do not offer interest for money saved in a bank, everything is getting more expensive, yet wages stagnate, home prices go up, good/healthy food gets ever more expensive…
soon you’ll have negative interest – already true in some countries. i.e. you put money in the bank and you lose (!) money.
it seems you don’t understand what any of this means. like a child laughing about a word that sounds like a potty word and not hearing anything else
grow up
your money is debt. that’s what the USD is. same with the Euro and all other fiat. it’s not money – not in the way money has always been understood when gold was the standard currency.
gold was a money, a currency and a store of value.
it’s just not fit for the internet. bitcoin is.
you’re not even aware of what you’re saying: yes. spending money will make you lose that money you need or that matters.
if you saved enough so a purchase is immaterial to your financial well-being, you didn’t lose money.
if you want to spend something you desperately and truly NEED, saving is necessary and then a money that is also increasing in value is of great help.
not sure if you’re trolling me, or if you just do not have any experience in using money wisely
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whatever. you didn’t tell this to the guy who started the tl/dr thing.
I’m done here.
I came to clear up some BS that seemed to circulate about bitcoin and genuinely help people.
but I’m mostly getting asinine criticism and dishonest trolling
This isnt true.
(edit: to increase wealth), By not spending all your money and investing your savings into investments that increase in value.
They actually do, though most “savings” accounts are purely for extreme low risk holding. You wouldn’t normally put all your money in a standard savings account, but you may put short term savings in there to hedge against the volatility of your investment assets.
Sure with inflation they are agreed.
If you let them. this isnt universally true and its quite possible for people to get at minimum wages in line with inflation, and at best doubling of their wages every few years with the right mindset and work.
In the case of bitcoin you’re not spending money, you’re spending an investment. The problem is bitcoin at least now and for the foreseeable future is that it is functionally unusable as a currency because a currency requires relative stability. Not 20% drops in value in a day (or 20$ gains), that doesn’t work, you wouldn’t spend the money it would generally be unwise.
Yes… I did.
Yeah it immediately dropped almost $2k when it hit that high. If you got in cheap it was a nice time to cash out at a chunky profit.
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I put a few hundred bucks in when it was around 9.5K. Once it hit 12.5K i jumped then an hour later the fucking world came down. Pulled all my BTC out and made about 250USD. Going to take the wife out for dinner.
Yeah, I have no burst, and not even sure where to get some. I pondeted setting up a burst mining rig, but didn’t because laziness and other projects.
I am a big fan of bitcoin, dont have much, but still a fan. And I was aware that much of bitcoin is mined with renewables. So carbon production wasnt really my main concern of my post. And I 3/4 to 7/8ths agree that other coins are trying to divert funds away from Bitcoin.
However, respectfully, I do like the exploration of ideas to use mining for computation or strorage on top of the hashing or proof of storage. I will admit, I am not a mathematician, and what little I do understand, that for a mining algorithm to be secure it probably has to be such that useful compute on top of hashing probably is impossible. Now, the storage concept, is probably a little more feasable (from what I understand).
My only point, maybe made poorly, was that there are still ideas to be looked at. And if a secure proof of storage mining coyld create a distributed gutenburge or library of congress, that would be wonderful. And IF some sort of compute could be used instead of random hashing, like a seti or folding at home, that would be wonderful also.
As it is, my dream is to use hashing heat to heat stuff I would normally heat, and eek out a lityle more efficiency in my life. But I have to wait to buy a house before that project happens.
Because to live under your means and to save money is to become rich.
I’m 25 and by 30, I’ll have 1M in the bank if things don’t go sideways simply because I live under my means.
You’re a clown.
I’m getting 2.5% on my savings account.
Things are not getting more expensive, at least not in San Diego.
I got a 21% raise in February. Just work in an industry where you’re actually valued.
Good food has always been cheap, and is not getting any more expensive. Hell, Steak has fallen since 1988.
You should only buy a home if you expect it’s value to increase. Why would you buy a house that you expect to lose value?
2/10 obvious troll.
Go home, you’re drunk.
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Vindication!
Congrats on the fat raise. I just switched careers to something much slower paced. I get paid less but I’m spending more time with the wife, kids, and other family. I’m much happier. You can’t really quantify that but my mental health has definitely improved. Sometimes taking a pay cut is a good thing.
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