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A comment on Tesla buys $1.5B in Bitcoin, may accept it as payment in the future. Parent comment

Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by me551ah on Monday February 08, 2021 @10:21AM (#26065678)
Gold is unique, few metals can match it's shine and electrical conductivity. But there exist many cryptocurrencies which can act as "a system for transferring bits in a decentralized fashion over the internet". Many also do a far better job than bitcoin. So shouldn't they be more valuable than bitcoin? Etherium, Monero etc

Yes, but you really can't fight the government and run a parallel currency. If the government bans it then you cannot use it for any legal transactions.

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by shawnz on Monday February 08, 2021 @10:29AM (#26065792)
Other coins will have to not only be technologically better than Bitcoin but also work to accumulate the same level of trust that Bitcoin has. We can see this already happening with the success of Ethereum

> Yes, but you really can't fight the government and run a parallel currency. If the government bans it then you cannot use it for any legal transactions.

But even in that situation, you would still be free to bring your money into the control of a different government instead, who has laws you find more favourable. You wouldn't be victim to currency controls and bank runs

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by olah_1 on Monday February 08, 2021 @11:29AM (#26066607)
Interestingly enough, with Ethereum, countries could create their own national currencies as Ethereum tokens. And easily exchange with other Ethereum tokens as well.
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