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A comment on Sam Bankman-Fried sentenced to 25 years in prison. Parent comment

Re:Sam Bankman-Fried sentenced to 25 years in prison by acdha on Thursday March 28, 2024 @07:44PM (#39858844)
That does add some value but it’s fairly weak - people can always choose to switch to something cheaper, capping the maximum - and it adds its own risks: price spikes might leave you unable to perform transactions within your budget.
[ Parent | on HN ]
Re:Sam Bankman-Fried sentenced to 25 years in prison by hirako2000 on Friday March 29, 2024 @05:37AM (#39862142)
No, people cannot always. Sometimes, often maybe, yes.

Network effect, security, are some of the reasons.

[ Parent | on HN ]
Re:Sam Bankman-Fried sentenced to 25 years in prison by acdha on Friday March 29, 2024 @09:53AM (#39864125)
Yes, people can always switch. Unlike a sovereign currency nobody has a legal obligation to use any cryptocurrency, which means everyone is going to assess whether they’d be getting better value using something else.
[ Parent | on HN ]