Do you think that most people are financially illiterate?

[iceaura]

It's a long-term store of value. Look at the purchasing power of the dollar over the last 5 years and compare that to Bitcoin. Bitcoin has been a much better store of value.

Dollars are not primarily "stores of value", remember? And five years is not "long term".
(This is a thread about financial literacy, specifically- as noted above, if not for Poe's law we could have a pretty good run of humor here.)

As an asset class Bitcoin has beat every other asset class on a year by year basis.

Beanie babies outperformed it for a comparable length of time. So did baseball cards.

If the people currently using bitcoin to avoid paying taxes are prosecuted and forced to dump their bitcoin on the market if any, what would you predict will happen to the "value" of bitcoin?

If the people currently embezzling computer resources to mine bitcoin are caught and prosecuted, and forced to dump their bitcoin to pay fines and reparations, do you think bitcoin will still be worth mining at its new price?

 

[Seattle]

Dollars are not primarily "stores of value", remember? And five years is not "long term".
(This is a thread about financial literacy, specifically- as noted above, if not for Poe's law we could have a pretty good run of humor here.)

Beanie babies outperformed it for a comparable length of time. So did baseball cards.

If the people currently using bitcoin to avoid paying taxes are prosecuted and forced to dump their bitcoin on the market if any, what would you predict will happen to the "value" of bitcoin?

If the people currently embezzling computer resources to mine bitcoin are caught and prosecuted, and forced to dump their bitcoin to pay fines and reparations, do you think bitcoin will still be worth mining at its new price?

I don't think you do humor, do you?
The rest of your post is beyond ignorance.

 

[river]

How many people do you think are financially literate? If someone is in too much debt is it generally because they just had no choice or is it because they made poor decisions?

Is one generally in control and therefore responsible for their life or is one generally not in control and therefore not responsible for their life?

Not many compared to every body . But it should be everybody .

Highlighted

First

Poor decisions . Financial Intelligence is important .

Second

Freewill increases with knowledge .

 

[wegs]

I think that financial “literacy” needs to be taught, like anything in life. People who have had poor examples of how to manage money, live within their means, how not to get swept up in consumerism, etc will likely have unhealthy relationships with money. But, that doesn’t mean that they can’t “unlearn” bad habits and learn new ones.

 

[Seattle]

I think that financial “literacy” needs to be taught, like anything in life. People who have had poor examples of how to manage money, live within their means, how not to get swept up in consumerism, etc will likely have unhealthy relationships with money. But, that doesn’t mean that they can’t “unlearn” bad habits and learn new ones.

True, illiteracy doesn't mean that one can't learn. It just means that one didn't learn.
Iceaura could learn about Bitcoin but he just didn't.

 

[pjdude1219]

I doubt that you are ever surprised even though you are usually wrong.

you surprise me all the time with your poor economic takes but no just because you live in a fantasy world doesn’t mean I’m wrong.

As an asset class Bitcoin has beat every other asset class on a year by year basis. Yes, it is volatile. As it matures that will decrease but if you look at the return by year it does quite well. If you are going to use Bitcoin to buy your chicken tenders that might not currently be a good idea. You probably don't use gold that way either.

It's a long-term store of value. Look at the purchasing power of the dollar over the last 5 years and compare that to Bitcoin. Bitcoin has been a much better store of value.

it’s not going to mature. It’s value is purely built on speculation. The more you talk the more you show of your own ignorance. For someone who so arrogantly tries to lecture people on economics and finance you have very little understanding of it yourself.

 

[pjdude1219]

How about not making the discussion about yourself or other people? You don't have to agree with everything people post but don't be nasty and toxic.

If Seattle doesn’t want to be treated like a Dick he shouldn’t be one. You are clearly not familiar with his the poor deserve to be poor , they get to much help as it is, and I’m better than them cause I have more money attitude. He is emblematic of the toxic right wing Protestant morality economics.