798 sats \ 4 replies \ @kepford 11 Oct 2023 \ on: What ELSE is a shitcoin? (besides shitcoins) bitcoin
You know the main reason people even consider things investments that are terrible is because they are less terrible than fiat.
I hear people say this is a shitcoin and that is a shitcoin and really they aren't. I have a car but its a tool. I have a house but its a house, not an investment. There is value in the utility of a thing. I have computers. They are shitcoins when you think about how they hold their value but if you think about them as a tool to build and earn wealth they aren't.
Calling everything a shitcoin can be fun but it also can be dumb lazy thinking. If we had a strong and sound money like Bitcoin used by a large percentage of the population you would see a drastic change in people's spending behavior. Suddenly they would be far less likely to spend their money on crap. Producers would be forced to make goods worthy of bitcoin. But thats another topic.
Another thing I thought of after commenting is that many people buy many things just because they like them. This can be due to taste, wealth, or stupidity. Its very subjective. Most things people buy I do not buy. I have no desire to buy a new car. Its stupid to me. They are over priced and lose value immediately. So I buy well kept used cars. Many other examples.
reply
i am guilty of buying things i like, pls no harm ser
reply
100%
A lot of these "shitcoins" help you build a more productive/fulfilling life, which is ultimately what determines what's a true "shitcoin" and what isn't imo. Gotta ask how it adds value to your life
gotta shitpost sometimes tho lol, can also bring out some good gems like what you've said here
reply
main reason people even consider things investments that are terrible is because they are less terrible than fiat.
well said, these so-called investments are a way of "spending" too, because people know their money would lose value if they don't do anything; On the contact, all we need to do is learn how to protect and well-spend our sats in Bitcoinlandia.
reply