News for hackers. Stuff that matters.

A comment on El Salvador abandons Bitcoin as legal tender after failed experiment. Parent comment

Re:El Salvador abandons Bitcoin as legal tender after failed... by notahacker on Tuesday February 04, 2025 @05:56AM (#42930828)
> Why should the money holder do anything productive? Why getting richer and richer becomes something bad when we go crypto?

This question works better the other way round. Why should people that do all the work and take all the investment risks to make the riches get continually decreasing returns on their efforts whilst the people that sit and HODL get continually increasing returns on doing nothing?

[ Parent | on HN ]
Re:El Salvador abandons Bitcoin as legal tender after failed... by robertlagrant on Tuesday February 04, 2025 @11:18AM (#42934372)
Because people are willing to pay more. Why should I make money because my house is worth more than it was? Because people are willing to pay more. There's no more "should" required than that.
[ Parent | on HN ]
Re:El Salvador abandons Bitcoin as legal tender after failed... by notahacker on Tuesday February 04, 2025 @01:12PM (#42936330)
Um... if the only legal tender around was an asset with fixed supply, people holding it wouldn't be willing to pay more, (or invest it in making more stuff) that's the whole point.
[ Parent | on HN ]
Re:El Salvador abandons Bitcoin as legal tender after failed... by robertlagrant on Wednesday February 05, 2025 @03:56AM (#42945853)
But you see my point, right? I'm challenging the question of "why should someone buy that thing for more than the seller paid for it?" The answer is: because the new buyer is willing to pay that for it.
[ Parent | on HN ]