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A comment on Berkshire: Bitcoin is ‘contrary to the interest of civilization.’. Parent comment

Re:Berkshire: Bitcoin is ‘contrary to the interest of civili... by smt88 on Monday May 10, 2021 @08:00AM (#27104981)
Dollars are inflationary and therefore primarily currency, not assets. They're also far more useful, so people are likely to only pay the massive crypto tax (exchange fee, loss of liquidity) if they need to be outside of a legal system.

Also, is it "in extremis"? It seems like the vast majority of transactions of crypto are for ransomware, contraband (guns, drugs, humans), or exchange between speculators.

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Re:Berkshire: Bitcoin is ‘contrary to the interest of civili... by Chris2048 on Monday May 10, 2021 @09:34AM (#27105811)
> the vast majority of transactions

Are transactions relevant though? A lot of BTC is just being held, presumably for the sake of future popularity. You could see BTC investment as a bet on the future of BTC as a normal/common currency.

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Re:Berkshire: Bitcoin is ‘contrary to the interest of civili... by smt88 on Monday May 10, 2021 @09:45AM (#27105906)
> You could see BTC investment as a bet on the future of BTC as a normal/common currency.

Yes, I totally agree. The question is: what has to happen before it's a common currency?

See my other comment for my thoughts on this: https://news.ycombinator.com/item?id=27104956

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