Hal Finney Was Not Satoshi Nakamoto

Re:Hal Finney Was Not Satoshi Nakamoto by polygamous_bat on Sunday October 22, 2023 @08:48AM (#37974905)

Bitcoin is Schrödinger’s asset, in the sense that it is whatever it needs to be to counter the latest criticisms from non-believers.

For example, if you say that bitcoin has 7 tps and even with lightning will take decades to onboard everyone, it will become a store of value that you are supposed to buy and hold for long term. But if you point out how bitcoin has crazy volatility, it may become a currency that you don’t hold, just use to transact.

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Re:Hal Finney Was Not Satoshi Nakamoto by infecto on Sunday October 22, 2023 @12:10PM (#37976616)

I am happy that you understood where I was going with this.

People whip up whatever they need it to be to make an argument. Sometimes we call it a currency because we can use it to buy things, other times its an investment. To reliably fit in either of those buckets is exclusive. To be a currency you need to be a store of value that is not fluctuation a lot, this means its a terrible investment vehicle.

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