6 ms·
The author somehow misses the number one use case of crypto: as a currency. You can buy things with Bitcoin right now. Therefore each bitcoin has a value. You c
by nmilo 4y ago
The author somehow misses the number one use case of crypto: as a currency. You can buy things with Bitcoin right now. Therefore each bitcoin has a value. You can move bitcoins around to move value around. Simple as that.
The only problem is that, yes, it is indeed early. I don't know why the author brings up the App Store, as if both Bitcoin and the iPhone App Store are even remotely comparable just because they came out in the same year. You can't expect to upend the global financial system in less than 15 years, give it some time. People are hitting the limits of international banking and quickly moving to crypto as an alternative. And as the hyperconnected cryptobro kids today become wealthy millionaires in a few decades, I expect a lot of value to be stored internationally in crypto.
- Synaesthesia 4y agoSure but with the various transaction fees, exchange fees and waiting time for confirmation, and price instability, isn't it easier to just use existing financial services to buy things?
- junofan 4y agoFor international services, often no.
- Synaesthesia 4y agoWhat are bitcoin fees like these days?
- olalonde 4y agoMaybe if you are not one of the billions of unbanked people.