Re:Ethereum Isn't Fun Anymore
by globular-toast on Monday February 22, 2021 @07:47AM
(#26223870)
Same. I was super excited for bitcoin ten years ago, but now I've experienced first hand how bad bitcoin is as a currency. Most people aren't even thinking of using it like that. It's just sitting in their coinbase account. So you've just got a bunch of people who all expect to make money from each other. Without any actual value it's a zero sum game, folks!
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Re:Ethereum Isn't Fun Anymore
by imtringued on Monday February 22, 2021 @09:49AM
(#26225116)
In practice you are waiting for technologically illiterate people to lose their Bitcoin or old people to pass away without revealing their wallet to anyone. That's a pretty weird form of "investment".
Re:Ethereum Isn't Fun Anymore
by JamesSwift on Monday February 22, 2021 @11:17AM
(#26226234)
Thats actually pretty similar to people that invest in collectible cards (e.g. sports or trading card games like Magic). One part of the value increasing is due to supply attrition. Existing cards get either damaged or lost.
Re:Ethereum Isn't Fun Anymore
by derivagral on Monday February 22, 2021 @02:34PM
(#26229369)
This is itself a (funny?) form of a Tontine!
> Without any actual value it's a zero sum game, folks!
It's less than zero-sum. A significant portion of what's being put into the system, is just being burned, in the form of converting electricity to heat without doing much if any useful work.
Re:Ethereum Isn't Fun Anymore
by afishisafish on Monday February 22, 2021 @10:02AM
(#26225282)
Look at the Bitcoin as the defacto reference of value for other crypto that do solve other problems. It's import to have a store of value that's not traditional fiat (like USD).