World Economic Reality: Bitcoin Vs Petroleum
I recently read an article published by CNN Spanish, where he talked about the fund that touched the price of a barrel of oil, between 35 $ - 40 $. During the last decade, the price of a barrel of oil has declined substantially, going from being above $ 100 to being below $ 50.
This has had a negative impact on the world economy, especially in oil-dependent rentier countries such as Venezuela. The causes attributed to the fall in prices, is the world over-production, which exceeds demand.
Bitcoin for its part is (and will continue to be) a whole digital revolution. From its beginning, from being below $ 0.001 / BTC to reaching a ceiling of approximately $ 3000 / BTC in almost a decade, it is inevitable to make the comparison between these two assets, one physical and backed, and one digital and without any Support entity, rather than the mining community and users of the BITCOIN network.
This points to a changing future, where digital, intangible, perhaps (or otherwise) have a much more stable value, and with a relatively controlled growth rate, are the world's most widely used and traded financial assets.
From your point of view, do you think that the digital assets, specifically the crypto-coins, will prevail over the years, maintaining a stable value?
Your opinion is important so leave your comment
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Oil is a commodity...like sugar, peanuts, ice cream, and coal.
why should it have an impact on the world economy?
BitCoin is a currency...in fact it's actually money.
a different thing altogether.
so sad about Venezuela...they shot themselves in the foot.
I bet that hurts.
Thank you for your comment, but I speak of an economic impact in the social field, in Venezuela the BTC has saved a lot of misera (even more than there is) I am from Venezuela, and it is bad taste to see how you comment, insinuating that This has been our fault, there is a deeper history, behind the images of the media.
I'm not insinuating...I'm flat out saying that it IS your fault.
before Chavez your country was one of the richest in all of South America.
how's the polilcies of Chavez worked out for you?
For 5 years I worked for the government of the deceased president, my origin being the most humble neighborhoods of the country, I orientate to seek the "equity" of the people, in a sincere way everything worked for a couple of years, until everything began to corrupt , And deviate from the real objective, that is why I speak of the BTC as an influential fact in the country, a way for the economy to change, and is easily verifiable through the statistics of users who are increasingly using BTC more than fiduciary money , Where the purchasing power has increased a little for people who use it, that is why I mention it as influential in the economy, because it is the example that I have lived in my own flesh.
I orientate to seek the "equity" of the people
you admit to it.
do you approve of the nationalization (theft) of the oil companies?
you can NOT make the poor rich..by making the Rich poor.
never happened..never will.
All government is a disease...
socialsim is like cancer.
In what I totally agree with you is that ALL GOVERNMENT IS A DISEASE and not only SOCIALISM is a CANCER, any political ideology, in the end only benefits a few. You have a new follower @everittdmickey Your perspective pleases me and your sincerity, thank you for taking your time to comment and debate.
I live to debate, although some might call it argument. ( I do that too)
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I've recently coalesced a philosophy..based on the monkeysphere
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my takeaway is
irrational behavior is indistinguishable from insanity.
this
in which it is stated.
Pournelle's Iron Law of Bureaucracy states that in any bureaucratic organization there will be two kinds of people":
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Secondly, there will be those dedicated to the organization itself. Examples are many of the administrators in the education system, many professors of education, many teachers union officials, much of the NASA headquarters staff, etc.
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The Iron Law states that in every case the second group will gain and keep control of the organization. It will write the rules, and control promotions within the organization.
Stability is relative. Do I think Bitcoin will forever be a store of value? Yes. Will it behave somewhat independently of fiat sovereign currency? Yes. However, and especially in the near term it will be very volatile. Long term stability in Bitcoin will not happen until it is primarily earned as an exchange for time and spent on the exchange of goods and services necessary for life.
Excellent perspective, without doubt, you have to wait for the time to pass, and observe the evolution of it