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Re:Bitcoin could become ‘worthless’, Bank of England warns by esarbe on Wednesday December 15, 2021 @07:08AM (#29564843)
Could it? How?

I'm honestly curious because I don't see how Bitcoin could be useful.

Re:Bitcoin could become ‘worthless’, Bank of England warns by sebastianconcpt on Wednesday December 15, 2021 @07:17AM (#29564919)
Wealth protection against all the statists fiat currency schemes.
Re:Bitcoin could become ‘worthless’, Bank of England warns by igorkraw on Wednesday December 15, 2021 @07:23AM (#29564985)
How do you deal with the notion of private property as a non-statist?
Re:Bitcoin could become ‘worthless’, Bank of England warns by sebastianconcpt on Wednesday December 15, 2021 @09:11AM (#29566138)
A minimalistic state with no central bank. The big issue is that fiat currencies are a design flaw that will make states only grow.
Re:Bitcoin could become ‘worthless’, Bank of England warns by igorkraw on Wednesday December 15, 2021 @01:14PM (#29569557)
So basically, you don't. You need to pay the forces enforcing your property rights somehow, and with taxation comes comes either a large overhead as the state needs to basically become a Forex trading house to ensure it can pay in whatever wildcat currency is worth the most or to standardise to the numeraire used to pay the people with guns enforcing private property
Re:Bitcoin could become ‘worthless’, Bank of England warns by authed on Wednesday December 15, 2021 @07:10AM (#29564868)
It is being used to transfer money in other countries to avoid the fiat shit show.
Re:Bitcoin could become ‘worthless’, Bank of England warns by bwb on Wednesday December 15, 2021 @07:24AM (#29565001)
I will admit this is useful, although the fluctuations is a PITA and if you can do GUSD it is better. I've done this to pay contractors in Brazil and other places with high banking fees.
Re:Bitcoin could become ‘worthless’, Bank of England warns by killertcell on Wednesday December 15, 2021 @07:21AM (#29564968)
>avoid the fiat shit show

it has its shitshow of its own - see $actual_crypto_exchange_busted

Re:Bitcoin could become ‘worthless’, Bank of England warns by bottled_poe on Wednesday December 15, 2021 @07:20AM (#29564953)
“the fiat shit show” - aka taxes and other laws.
Re:Bitcoin could become ‘worthless’, Bank of England warns by authed on Wednesday December 15, 2021 @07:21AM (#29564967)
I was talking about artificial delays, high fees and things like that... You can have very low fees and near instant transfers with some Cryptos.