5 ms·
I get this argument but you can long BTC if you are long internet. BTC has some superior properties: 1. Censorship resistance / Self custody 2. Reasonably ch
by capnorange 6y ago
I get this argument but you can long BTC if you are long internet.
BTC has some superior properties:
1. Censorship resistance / Self custody
2. Reasonably cheap to transact large value across space.
3. Network effects
Also, gold like bitcoin have a huge monetary premium so the same argument applies.
- wasdfff 6y agoNone of the perks are beneficial to the consumer. The consumer just sees the onerous process of converting btc to usd, and sees the currency as speculative like a penny stock and nothing more. The only people who are long interner are the same people as they were 10 years ago. For most people, btc is a slot machine.
- Acrobatic_Road 6y agoCensorship resistant is not useful to the consumer? If a vendor has been financially censored then bitcoin is surely useful. For instance, if you want to purchase a 4chan pass, its crypto only baby.
- NicoJuicy 6y ago> Reasonably cheap to transact large value across space. Nice dodge on the 8$ min. transaction fees :)
- jjk166 6y agoAnd how much does it cost to same-day deliver a gold bar to the other side of the world? Also the fees are in bitcoin - if bitcoin is worthless, the fees are nothing.
- NicoJuicy 6y agoWhat a real life comparison ¯\_(ツ)_/¯ If you ever send a gold bar across the world, I'll send you a beer. I won't pay the beer with bitcoin though, to expensive for normal use, that includes conversion to euro back and forth in USD/EUR to actually use it :)
- deeeeplearning 6y ago>2. Reasonably cheap to transact large value across space. Definitely not accurate and this says nothing of the massive environmental cost of transacting on the blockchain.