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A comment on MasterCard to open up network to cryptocurrencies. Parent comment

Re:MasterCard to open up network to cryptocurrencies by me551ah on Thursday February 11, 2021 @03:13PM (#26106505)
I don't get why bitcoin is worth so much.Bitcoin is called a store of value like gold, but gold has inherent uses. If the price of gold went to zero then you could still use it to make jewellery or use it for electrical conductivity. If the price of bitcoin goes to zero then it's worthless. It's also not environmentally friendly and bitcoin mining uses up 0.21% of the world's power supply. And all of this energy is used to calculate billions of hashes per second out of which all but one will be discarded. There is also increased regulatory focus from governments who see it as a threat , with India even going so far as to suggest they would ban it.
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Re:MasterCard to open up network to cryptocurrencies by BTCOG on Thursday February 11, 2021 @03:32PM (#26106718)
Do you typically just copy/paste the same comment on every Bitcoin article rather than think of nuanced commentary? Are you a part of ArcticBull's astroturfing campaign?

Edit: I see that you've copy/pasted it once but some other commentary on Bitcoin seems mostly genuine.

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Re:MasterCard to open up network to cryptocurrencies by alantrrs on Thursday February 11, 2021 @03:31PM (#26106701)
We live in the information age. Information has a lot of value, most software companies' main asset is information. Visa, Mastercard and all the banks are companies that are valued very highly because they provide the infrastructure for managing money. Bitcoin is not just the asset, it is the network and the infrastructure. It's a whole system that works semi autonomously by by aligning the incentives of all of its members. Wouldn't you say that's valuable?
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Re:MasterCard to open up network to cryptocurrencies by krsdcbl on Thursday February 11, 2021 @03:17PM (#26106559)
I'd argue that the demand for gold jewelry would drop accordingly to the gold price falling to zero. Jewelry is a secondary form of said value store, nothing inherently useful
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Re:MasterCard to open up network to cryptocurrencies by OOPMan on Thursday February 11, 2021 @03:20PM (#26106597)
Well, unlike Bitcoins, I can put gold jewellery in a sack and use it as a cosh ;-)
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Re:MasterCard to open up network to cryptocurrencies by ric2b on Thursday February 11, 2021 @03:53PM (#26106996)
> If the price of gold went to zero then you could still use it to make jewellery or use it for electrical conductivity. If the price of bitcoin goes to zero then it's worthless.

Does it really matter if the bottom is 5% instead of 0%? Is that honestly something you think about when choosing an investment?

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