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Bitcoin is failing at becoming the future of money

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11–20 of 164 posts

Re: Bitcoin is failing at becoming the future of money

#11

No it's not, but the cryptocurrency revolution it kicked off, is.

Curious what fundamentals CCs bring to the table over traditional fiat, digital or physical. Because the downsides look brutal: difficult to understand, fragile, non-reversible (sometimes a pro but often a con), expensive to operate, volatile, incompatible with KYC (sometimes a pro but often a con), etc

Re: Bitcoin is failing at becoming the future of money

#13

Earlier quoted context omitted.

maybe cryptocurrency is alchemy and we're still waiting for science

This legitimately covered my keyboard in Pepsi. Kudos! edit: removed burn in all caps as this is not a Wendy's restaurant.

I’m sad to see HN become a place where people pat each other on the back for “burns”.

(And I think GP makes a good point.)

edit for context: parent originally started with “BURN!” before edit

Re: Bitcoin is failing at becoming the future of money

#14
It was getting there.

I remember Bitcoin was getting a wider adoption for payment back in 2013ish. I paid for my domain from namecheap in Bitcoin back then.

But it then blew up and everyone treated it more as a store of value and it made all the shops stop accepting it as payment due to its volatility.

Re: Bitcoin is failing at becoming the future of money

#15

Funny how people talk about the problem of Bitcoin using a lot of energy but then they live in a big house, drive an SUV, and fly to far away places on vacation. Your life style is the problem, not crypto.

hi I live in a modest apartment in an actual city, and bicycle everywhere, and I think cryptocurrency's absurd energy usage is a problem too

Re: Bitcoin is failing at becoming the future of money

#16

Funny how people talk about the problem of Bitcoin using a lot of energy but then they live in a big house, drive an SUV, and fly to far away places on vacation. Your life style is the problem, not crypto.

Generalization much ? I live in 38 m^2 apartment and commute to office on cycle. Except for trip abroad always used Train and since Feb 2020 have not gone on any vacation due to Covid.

Can I critize bit coin ?

Re: Bitcoin is failing at becoming the future of money

#18

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

I don't think anyone seems to remember the slight drama under which satoshi nakamoto had disappeared where he called people out for not really seeming to realize or respect that bitcoin was pretty much just a proof of concept

Do you have a source for this?

Re: Bitcoin is failing at becoming the future of money

#20

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

I always thought of it as Bitcoin being MySpace and we’re waiting for Facebook, then maybe Instagram and WhatsApp (pre-acquire).

Etherium seems like it could be one of those if POS or something else can make transactions a reasonable price

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