Re:Nassim Taleb: Bitcoin failed as a currency and became a s...
by rualca on Saturday April 17, 2021 @06:38AM
(#26843192)
Bonds are not currency. That comparison is even invalid as a strawman. I don't understand why I need to point this out.
Even if you feel the need to equate crypto-things to bonds, first you need to argue why buying, say, bitcoins can be argued as lending money to someone, which makes no sense whatsoever.
Cryptos are nothing more than speculation vehicle, and it's pretty obvious that they are massively used as a pump-and-dump scheme. The only point in time where cryptos played a relevant role as a currency was way back in the silk road times where cryptos were used with the expectation of laundring transactions. That usecases quickly went out the door ages ago.
Even if you feel the need to equate crypto-things to bonds, first you need to argue why buying, say, bitcoins can be argued as lending money to someone, which makes no sense whatsoever.
Cryptos are nothing more than speculation vehicle, and it's pretty obvious that they are massively used as a pump-and-dump scheme. The only point in time where cryptos played a relevant role as a currency was way back in the silk road times where cryptos were used with the expectation of laundring transactions. That usecases quickly went out the door ages ago.