482 karma · joined October 7, 2017
However, look at the US dollar over longer durations against wheat [1], copper [2], gold[3], or Bitcoin [4]: the dollar buys significantly less than 10, 15, 40, or 100 years ago.
While the Cedi may be much weaker against the dollar, the dollar is loosing against real commodities/assets that can't simply be created by banker's fiat.
So, the dollar's the cleanest dirty shirt in the room. And Ghana just announced that they'd rather trade oil for a clean shirt (gold) rather than taking a dirty one.
[1] https://www.macrotrends.net/2534/wheat-prices-historical-cha...
[2] https://www.macrotrends.net/1476/copper-prices-historical-ch...
[3] https://goldprice.org/gold-price-charts/15-year-gold-price-h... / For 100 year chart, https://www.macrotrends.net/1333/historical-gold-prices-100-...
[4] https://www.xe.com/currencycharts/?from=USD&to=BTC&view=10Y
Yen is Japanese currency; yuan is China's money.
But now the US is even destroying confidence in the dollar, through its confiscation of the Afgan central bank reserves (which included private citizens' deposit accounts) and distributing the money to families of Sept 11th victims; or freezing the Russian central bank reserves, even though the international settlement system was meant to be apolitical.
But, for me, the lack of a second hand and backlighting or glow-in-the-dark hands & numbers, combined with the strong potential that my health data was being snooped on, convinced me to return to a traditional analog face wristwatch.
But I may look into the OP's original Casio - a sturdy watch with a barometer and compass built in, that would be handy.
Why?
I don't know how others belief systems would explain that, but from a Christian perspective, humans aren't exactly the same as animals. We're like animals in that humans and animals are all creatures, and yet distinctly non-animal in that we're the only creatures made in the image of God, and given rule over all creature to promote the flourishing of life---human, animal, and plant---for God's glory. And the biblical story is that humans went so far off-course in rebellion against their Creator God that the Son of God had to become human, die, and rise again to restore our ability to care rightly for creation.
Thus, concerns to minimize animal suffering are uniquely human concerns because we /aren't/ animals, but human; and the concern itself is proof we're different from other animals.
Yet, UBI would drive prices up more, as its simple monetary creation. Rising costs are part of the problem, let's not use UBI to make them rise faster.
(Unless of course one were to simultaneously destroy the same amount if money as the UBI from someone else's savings. But that amounts to theft---unmasking the real morality of UBI. And I've never heard UBI proponents argue that we should steal from the rich to fund it.)
But unless I'm mistaken, if a device only has 3G, and you want to travel with it away from WiFi, you can't even get 3G data on the device, as they shut off the 3G networks in the USA. Best you're gonna find in some rural areas may be 2G or 2.5G.
The planned obsolescence of today's mobile phones makes me sad.
And, we know that Ethereum has changed history in the past (DAO failure in 2016), and they can do it again anytime a majority of the stakeholders think it ought to be done.
I think rule-of-law property rights are more robust, or simply owning bitcoin, as its just a protocol without a group of people in change.
Uh, go visit El Salvador. Every MacDonalds, every Starbucks, and tons of local businesses accept "the largest one." That's because bitcoin stands apart, in terms of its real decentralization, and therefore its independence and utility. Give it time, and it will become far more useful than it already is. The dollar may eventually refer not to a specific weight of gold (that's what the term 'dollar' originally meant), but to a specific number of satoshis.
The big problem here is that most of the systems in crypto are really startups run by a small group of founders. Very few of these projects are really decentralized.
Bitcoin was effectively invented 'today', yet you don't have to buy into a pyramid scheme to use it.[1] For example, you could simply use it for cross-border remittance to avoid paying Western Union's high fees, without ever holding bitcoin, by using an app like Strike to send dollars from the US to El Salvador (using bitcoin's instantaneous lightning network as the payment rails behind the scenes)[2]. Or you could prove the existence of a digital document at a certain time by using Peter Todd's Open Timestamps[3], which simply puts a hash or your file into an Op Return on bitcoin's blockchain. Or, you could work on developing software or providing support or writing tutorials for the bisq protocol, get paid for your work with their bisq token (which is simply colored bitcoin), and cash out to have you national currency dumped in your bank account using the bisq software which has been developed and supported by a decentralized community with its governance built directly on bitcoin.[4]
If you really still think bitcoin is a pyramid scheme, there's plenty or ways one could benefit from it without having to "buy in" or hold it. But if you put in the time and learn, you'll discover bitcoin is innovative technology, distinctly separate from the crypto space awash with scams and rug-pulls, like the fiat world already is.
[1] https://www.lynalden.com/bitcoin-ponzi-scheme/
I'm not sure Ethereum is anywhere near as decentralized and bitcoin, because the Ethereum foundation and the large stakeholders (now that they have the miners the boot) appear to wield a huge amount of power.
Absolutely. That's where bitcoin could help a new platform, as a decentralized trust protocol. The bisq.network protocol requires people to put up significant bonds to perform roles that are trusted, and then if they fail to perform well, they can loose some or all of their bond. The bisq token holders (bisq tokens are simply colored satoshis, i.e. they've built functional governance directly on bitcoin) vote monthly on various governance proposals, and can thus hold people doing bonded roles accountable.
The tough question is whether such a system could make to individual apartment rentals in the real world. Its an oracle question: how to you establish the truth of competing claimed about the state if an apartment? Not an easy problem to solve, but if its solveable it could provide an amazing new marketplace.