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Bitcoin is over $100k

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Re: Bitcoin is over $100k

#131

Post by ConspiracyFact »

wyldfire wrote: post #89
nadermx wrote: post #25

Earlier quoted context omitted.

I just struggle to see it's utility

Its utility is similar to that of cash. But unlike cash it's (1) less fungible (2) much easier to transport (3) harder to secure from theft and/or destruction * (4) value is more volatile than USD/EUR/CAD/AUD (5) incredibly resource intensive to maintain (and growing!). It's not an equity, it's a currency. The Bitcoin network is nigh "indestructible" as long as some folks still consider it useful. This delivers credi…

Show me an economy that only uses bitcoin and doesn’t depend on cashing out to one fiat currency or another and I’ll allow that it’s a currency.

Re: Bitcoin is over $100k

#133

Post by ipaddr »

from-nibly wrote: post #121
ipaddr wrote: post #98

Earlier quoted context omitted.

Bitcoin offers portability by not having to store gold. Rapid price changes. One is more stable and the other more lucrative.

The last two things are descriptions of the markets of those things not the things themselves.

Agreed. Bitcoin is worthless unless you dig random characters. You can't eat it or wear it and it isn't used in industry.

The same can be said about money or cash.

Re: Bitcoin is over $100k

#134

Post by pontifier »

ks2048 wrote: post #69
amazingamazing wrote: post #26

Earlier quoted context omitted.

Why does it matter if income inequality is high? Poorly hid envy it looks like.

Because money is power. If you believe in democracy, then extreme inequality is extremely un-democratic. (Note, there is, IMHO, a happy middle-ground: some amount of tolerable inequality, resulting in some amount of tolerable un-democratic-ness)

Money isn't power. Power is power. Money can sometimes be used like power, but not knowing the difference is a recipe for the situation we find ourselves in now.

Money is only powerful as long as it's useful. When the pitchforks come out, dollar bills won't stop them.

Re: Bitcoin is over $100k

#136

Post by eric_cc »

throwawayq3423 wrote: post #40
eric_cc wrote: post #30

Earlier quoted context omitted.

[flagged]

What denial? It is an excellent way to gamble or launder money. That's not changed, but it's not expanded either.

Bitcoin is the only sound money in existence. It will slowly devour fiat currency over time and humanity will benefit.

There are quite a few similarities to the fall of monarchies.

Re: Bitcoin is over $100k

#137

Post by TMWNN »

aryan14 wrote: post #129
TheBruceHimself wrote: post #75

I just don't understand why you'd choose Bitcoin over gold. Gold, like Bitcoin, was criticized for just being a stupid store of value, but that wasn't completely true as it undoubtedly had some utility in the economy. Worst case comes and the market crashes, you know there's at least someone somewhere buying. What does Bitcoin get you over gold? The same "it's scarce and therefore valuable" narrative so you can store…

Well if you need to send someone a sum of money instantly anywhere in the world for no fees, it’s kind of unrealistic to meetup with gold bars

Indeed, when I wanted to send $2000 across the US-Canada border in 2021, I found to my surprise that doing so with BTC within Coinbase was the cheapest option.

Re: Bitcoin is over $100k

#139

Post by Gigachad »

evantbyrne wrote: post #126
WheelsAtLarge wrote: post #70

If you are feeling regret, don't. Very few people anticipated such a significant increase. Any profit is a good profit. Even investments that seem highly promising can end up in bankruptcy. This is one of the few that managed to succeed.

Naw man not everything is luck. People have been talking about $100k Bitcoin for what feels like forever now. When the stock market rolled back two years of gains and Bitcoin moved similarly, those who understood what they were looking at made big plays. What happens long-term now that it has hit that mythical price point is less clear.

“People have been talking about” a lot of things that never happened.

If this price was truely guaranteed, then investors would have bought in as soon as the information became available.

Re: Bitcoin is over $100k

#140

Post by Mistletoe »

zahlman wrote: post #125

Nothing ever seems to come of discussing this topic on HN - just the usual cycle of people arguing with each other over whether BTC "ought to" (by what ontological principles?) be worth what it is (or, for that matter, anything at all), or what social impacts it has, etc. None of that has anything at all to do with the current spot price. That's just an excuse to "debate" the topic again by pulling out the same old a…

[flagged]
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