BadEconomics: Putting $400M of Bitcoin on your company balance sheet

Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by squeaky-clean on Monday January 04, 2021 @01:10PM (#25635434)

The first sentence of the bitcoin whitepaper is literally "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."

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Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by chillacy on Monday January 04, 2021 @01:54PM (#25636118)

I think it's safe to say that the BTC community has pivoted to a more fitting use case for their technology.

The Bitcoin Cash fork and Litecoin made scaling choices that make it better for payments.

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Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by eloff on Tuesday January 05, 2021 @09:15AM (#25645686)

It doesn't matter what it was marketed as. It matters what it is.

But they made it deflationary and a good currency needs to be inflationary otherwise you just hold onto it instead of spending it. Which had made it more like a digital gold.

It has totally failed as a system for payments for this and other reasons. It is also too slow and too expensive per transaction.

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Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by EpicEng on Monday January 04, 2021 @02:04PM (#25636259)

And if they said it were a unicorn, would that make it true? It's not a currency because you can't use it as a currency.

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