Coinbase is exploring the addition of new currencies

Re:Coinbase is exploring the addition of new currencies by tptacek on Sunday December 09, 2018 @08:46PM (#18644576)

The arguments suggesting Bitcoin has an intrinsic value of $0 have rational, evidence-based premises, like the notion that Bitcoin is technologically inferior to some of its competitors and the lack of its use as a medium of exchange. You can't generally say that about the arguments in favor of Bitcoin, though I'm happy to hear counterexamples.

The "store of value" argument doesn't mean anything. Beanie Babies, tulip bulbs, and Hummel Figurines are also "stores of value".

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by jf- on Sunday December 09, 2018 @09:07PM (#18644663)

Artworks, antiques, gemstones. None of these are of any practical value, yet they hold value. You’re over systematising and not getting it. Value isn’t inherently rational.

Also, what was the false equivalence?

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by tptacek on Sunday December 09, 2018 @09:25PM (#18644747)

Try this: being a store of value is a necessary, but not sufficient, condition for Bitcoin's viability.

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by jf- on Sunday December 09, 2018 @09:40PM (#18644801)

Try this: why?

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by tptacek on Sunday December 09, 2018 @10:18PM (#18644911)

Because otherwise your claim for Bitcoin's ability to store value is circular. Bitcoin has value because it's supposedly a viable tool for commerce. But it's not currently useful as a medium of exchange, and it competes with systems that are far better than it.

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by hueving on Sunday December 09, 2018 @09:56PM (#18644838)

Because lots of things were stores of value that aren't anymore.

Can I interest you in a share of Bear Stearns?

[ Parent | on HN ]

Re:Coinbase is exploring the addition of new currencies by jf- on Sunday December 09, 2018 @10:09PM (#18644881)

And lots of other things that were stores of value still are.

Anyway I’m done with this, I don’t even have a horse in this race.

[ Parent | on HN ]