Re:Bitcoin is a disaster
by arcticbull on Friday January 01, 2021 @03:54AM
(#25601837)
oooh the rarity of owning a some digital magic beans, right, thanks I'll pass.
[ Parent
| on HN ]
Are they magic beans or just beans?
A bitcoin address gives you a unique global address decentralizated that funds can be sent to. There is utility to that function.
Using your description the internet is a magic place faeries built that provides no usefulness because it's virtual.
Re:Bitcoin is a disaster
by arcticbull on Friday January 01, 2021 @11:52AM
(#25604542)
No, Bitcoin provides no value because it's bad at everything it tries to be. It's a bad store of value (-86% swings 3x in the last few years), it's a bad currency (7tx/sec) and it's bad for the environment (as much power consumption as Chile).
The internet provides utility. Bitcoin provides speculation and crime.
It's a bad store of value (-86% swings 3x in the last few years), it's a bad currency (7tx/sec)
Bitcoin is the best performing asset of the past years compared to stocks, gold, commodities, etc.
Re:Bitcoin is a disaster
by brokenkebab on Friday January 01, 2021 @02:32PM
(#25605989)
He maybe bad at what you believe it tries to be, and still be useful. And hence its price.
>Bitcoin provides speculation and crime.
Everything valuable can become a tool, or a reason for criminal activity.
Re:Bitcoin is a disaster
by brokenkebab on Friday January 01, 2021 @02:35PM
(#25606027)
"Magic beans" is something you can say about majority of payment tokens humanity has been using. However, once enough people agree they are good for exchange they become good for exchange.
Then you can say the exact same shit about American dollars.
The rarity of owning some paper with ink on it!
That's alright, there is no coercion to use BTC.
Re:Bitcoin is a disaster
by arcticbull on Friday January 01, 2021 @09:13AM
(#25603376)
I have no idea what that statement is supposed to mean or prove lol.