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A comment on Bitcoin is a disaster. Parent comment

Re:Bitcoin is a disaster by arcticbull on Thursday December 31, 2020 @08:13PM (#25599610)
It’s a godsend to a small handful of Venezuelans, it’s not a general solution as of course a transaction fee is a few months minimum wage. It does literally nothing to solve the problem more broadly. You’d be better off holding value on their behalf stateside.

Of course the government could shut it off in a heartbeat. How many North Koreans does Bitcoin help?

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Re:Bitcoin is a disaster by firekvz on Thursday December 31, 2020 @08:17PM (#25599643)
read my answer, it's pretty well explained there
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Re:Bitcoin is a disaster by jcrubino on Friday January 01, 2021 @12:05AM (#25601015)
You are all missing the the trend over the last 7 years for bitcoin is to create a digital asset that is a store of wealth. To say bitcoin is a payments system in the sense of cash is to miss the executed tech roadmap where cheap one off transactions is a secondary concern (not bitcoin core's). Listen Saylor talk about MicroStrategy's investment in bitcoin. He is very clear that is a store of wealth and appreciating asset on the books, not a payment rail for MicroStrategy subscription base.
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Re:Bitcoin is a disaster by rrrrrrrrrrrryan on Friday January 01, 2021 @01:06PM (#25605177)
Currency has more than two functions. Transferring wealth is not the same as paying for goods, and storing wealth is not the same as holding a speculative asset class.

Bitcoin is volatile. Holding it is more like holding gold, not USD.

Bitcoin is very easy to move across borders. Moving it is much more like a bank transfer, than paying for a pizza.

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Re:Bitcoin is a disaster by arcticbull on Friday January 01, 2021 @12:18AM (#25601081)
They haven’t changed Bitcoin a single bit since 2008. Saylor sounds like he got taken by the Bitcoin euphoria.
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Re:Bitcoin is a disaster by jcrubino on Friday January 01, 2021 @09:46AM (#25603574)
The point is the commenters here on this thread listen to too many youtube crypto channels for an accurate analysis of what bitcoin is and wants to be.
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