Re:BadEconomics: Putting $400M of Bitcoin on your company ba...
by washedup on Monday January 04, 2021 @12:03PM
(#25634180)
The author is saying it's lack of ability to be medium of exchange is reason for it's failure and their decision to short it, I am saying that you need to consider all facets of the technology. It might fail as currency today, but that doesn't mean it won't in the future or that it has other useful properties today
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Re:BadEconomics: Putting $400M of Bitcoin on your company ba...
by mbesto on Monday January 04, 2021 @12:14PM
(#25634435)
> I am saying that you need to consider all facets of the technology.
And to your point the author did assess it as a medium of exchange and deemed it a failure.
> but that doesn't mean it won't in the future or that it has other useful properties today
Just as you think it has a future, the author thinks it doesn't - hence the short position. But saying that the author didn't consider all aspects is disingenuous - they literally did, they just don't agree with you.
Also, you talked about other uses like "protocol and secure network". Aren't these just features of the technology that powers BTC (e.g. blockchain)?
Re:BadEconomics: Putting $400M of Bitcoin on your company ba...
by washedup on Monday January 04, 2021 @12:28PM
(#25634702)
Good point, a lot of the value prop is simply blockchain, which there are many "crypto" versions. Bitcoin's real value prop today is the network effect (growing in users/wallets/network hash etc).