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Re:Crypto lobbying is going ballistic by roenxi on Wednesday December 08, 2021 @04:41AM (#29482781)
Bitcoin have to be worth something in the same sense that a leaf of toilet paper isn't actually free - just very cheap. We don't know what the long term fair price of a bitcoin is and it isn't at all obvious that we are in a bubble.

For all the naysayers and the evangelists, at this point it is clear that cryptocurrencies have staying power and the broader market (not going to pick out bitcoin specifically) seems likely outlive the US dollar. Decentralised protocols are more reliable than the US government.

Re:Crypto lobbying is going ballistic by tsimionescu on Wednesday December 08, 2021 @08:56AM (#29484702)
> For all the naysayers and the evangelists, at this point it is clear that cryptocurrencies have staying power and the broader market (not going to pick out bitcoin specifically) seems likely outlive the US dollar. Decentralised protocols are more reliable than the US government.

By what logic do you expect a ~10 year old technology reliant on massive amounts of power in a global warming world, that only started seeing adoption ~5 years ago, will beat the US dollar's ~200 year old lifetime?

Not to mention, USD and the US are such a central part of all finance and technology worldwide that it's absurd to imagine Bitcoin would survive a collapse of the US government.

Re:Crypto lobbying is going ballistic by kazen44 on Wednesday December 08, 2021 @04:51AM (#29482848)
Are decentralised protocols really more reliable? I highly doubt it.

The reason the dollar is so strong is because it is backed by a goverment which will use its power to guarantee the dollar does not collapse. The same goes for the Euro, yen, RMB etc.

When hyperinflation kicks in, will a decentralised protocol step up and try to curtail it?

Re:Crypto lobbying is going ballistic by uh_uh on Wednesday December 08, 2021 @05:11AM (#29482993)
When hyperinflation kicks in, will the United States military step up and try to curtail it?

If so how?

Re:Crypto lobbying is going ballistic by throwaway52355 on Wednesday December 08, 2021 @05:17AM (#29483042)
The dollar is strong? Against what? It and all the other fiat currencies were losing their worth for decades.