WARNING This post is not about the halvening.
That's very perceptive of you, your Dukeness - impressive. Indeed it's not. However, it is in response to a post on this thread - which wasn't about the halving....just as I responded to your post...which wasn't about the halving. Thanks for helping to clear that up.
Indeed I do care to provide a source - it's at the very end of the post.
Just to see if there is a bias (as you are fond to accuse others of).
Ah, we need to verify that? Well the evidence is stacking up against you, your Dukeness. You took issue with my last post not being halving related and conveniently skipped over the previous couple of posts by another contributor (the posts that I responded to) and yet you have no commentary for them on the matter. Could it be that it's because they support your equally skewed view of the world as it relates to bitcoin and crypto?
A few subjects were left out of the exam which are by no means negligible:
Price stability
Intrinsic value or tethered thereto
General acceptability as a transaction currency
Discussed in the analysis.
Possibility of going to zero or thereabouts (I have noticed that those in the investor community who recommend btc as an uncorrelated asset invariably do a CYA and concede that it could go to zero)
You mean like oil? No, that's a mistake - it can't be like oil
because oil goes into minus money. Bitcoin ticks a hell of a lot of boxes but even it can't stretch to that. No, I guess you mean the currency that
died yesterday - the Iranian Rial. Or was it the FIAT currency and banking system that hit rocks last week -
The Lebanese Pound? Hell, we have not got all day. Let's not go through them all - as it is a case of going through them all as ALL FIAT currencies fail at one point or another - with the average lifespan being 27 years. You mentioned the CYA which comes with ALL investment products. Tell me - do they provide that warning for Euros, Lebanese Pounds and other sorts of monopoly money?
Sustainable low transaction costs (watch the fees balloon after a few more halvenings)
Well, firstly - have you and your fellow travellers not been telling us that bitcoin is going to zero? If that's the case, how would this be a thing? Let me help you with that just in case anyone 'has lost leave of their senses' and doesn't at the very least accept the opposite as a possible outcome...
Systems surrounding bitcoin (i.e. exchanges and exchange infrastructure) are much improved since the last market high. I expect that they will perform better next time round. Furthermore, a layer 2 solution in the form of Lightning Network continues to emerge. The eco-system surrounding bitcoin and crypto continues to be built out. This will all play a part in terms of transaction fees.
Just for kicks, here's an example of a bitcoin transaction fee - . Tell me this....what would AIB or BoI charge for that type of transfer? I mean, there is the €100,000 banking guarantee to be bought n' paid for so I wouldn't be so mean as to expect it to cost any less than $0.68 cents.