Ask HN: Will banks inflate Bitcoin just like they inflate fiat money?

Re:Ask HN: Will banks inflate Bitcoin just like they inflate... by mouzogu on Tuesday July 26, 2022 @05:39AM (#32236162)

i'm not sure that bitcoin is viable as fiat money, and it's failed as a store of value and inflation hedge. it behaves like any other bubble (risk on) asset.

regardless of what VC backed contrivances the future may bring, digital assets will NEVER have intrinsic value. that's the biggest scam ever invented, even more than the "cloud" and "saas".

but banks could just fork the chain, or copy-paste another chain, no shortage of options. that's what everyone else does.

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Re:Ask HN: Will banks inflate Bitcoin just like they inflate... by factorialboy on Tuesday July 26, 2022 @07:09AM (#32236735)

How are cloud and SaaS scams?

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Re:Ask HN: Will banks inflate Bitcoin just like they inflate... by mouzogu on Tuesday July 26, 2022 @07:32AM (#32236881)

- loss of ownership (look at digital purchases removed without refund)

- depends on online connectivity to use something you paid for

- forced version upgrades/general drop in software quality/reliability (enjoy those constant regression to justify that service contract)

- used to be a one-off purchase to purchase physical software, now you have the benefit of a recurring subscription to own nothing.

- loss of resale value. you can sell your old used games/software - or even sell the activation keys (after use).

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Re:Ask HN: Will banks inflate Bitcoin just like they inflate... by factorialboy on Tuesday July 26, 2022 @12:27PM (#32240420)

Thanks. Makes sense.

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