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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by ctdonath on Monday February 08, 2021 @10:03AM (#26065378)
Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency.

“Bad money drives out good.” Best money is a compact, moderate/high value, easily verified, inherently useful/desirable, fungible, divisible/mergeable, stable material of a generally agreed on value. Worse money scrapes away these factors as a matter of convenience & opportunism. We’re now reduced to verbal anonymous confirmation that user X is agreed owner of number B, with a market value of V - there is no physical manifestation.

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