31–40 of 77 posts
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It's desirable by people who have it - that's not the world. That's people who have stake in the game.
The same is true for the US Dollar (the Russians certainly don’t want it). Further, the same has been true for the Argentinian Dollar for decades. Many other currencies that I could name as well.
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why is Bitcoin so divisive? why some people just “get it” and other scream until they are blue in their face it’s a scam? it’s such a curious litmus test for something but I’m not sure exactly what.
Probably because of the insane costs of securing the network. If it used trivial resources people probably wouldn't care
N may be five to seven digits.
this sounds like a ponzi scheme in the making, or at least not going to end well
why is Bitcoin so divisive? why some people just “get it” and other scream until they are blue in their face it’s a scam? it’s such a curious litmus test for something but I’m not sure exactly what.
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What value does it provide?
None. Its a scarce resource that has been mutually agreed upon to be desirable. Much like gold or diamonds. Sure they have some limited use in non jewelry applications but nothing that justifies their prices vs the existing supply besides people just agreeing they are valuable. As a store of value though vs gold it has more positives. Much easier to transport a billion dollars worth of btc than gold. Much easier to s…
Self custody is part of why Bitcoin is valuable -- self custodians deflating it by losing their keys. The other part is speculative hype.
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Totally valid, but more and more people want it every day and are buying it. The new etf's have provided them with an alternate method of doing so and are currently the most successful ETF launch of all time. The daily demand of the ETF's far outstrips the number of new coins generated weekly. Add in the fact that that newly generated supply is getting halved in a few weeks and you have a good outlook for BTC pricing…
> more and more people want it every day and are buying it This is incorrect. From Coinbase SEC filings, retail trade is 1/8 of what it was in 2021, last time the price was this high. Even as the price has risen over the course of the past year, less and less people have wanted bitcoin every day. We have the numbers on this from the largest actual-dollar crypto exchange. Miners have hoarded coins since 2021 because i…
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The same is true for the US Dollar (the Russians certainly don’t want it). Further, the same has been true for the Argentinian Dollar for decades. Many other currencies that I could name as well.
Oh, russians are those who want it the most.
Has anyone here actually used MicroStrategy, the product/service offering? Is the software company behind it worth the implied $16B, or is MSTR essentially just a Bitcoin ETF with a really bad fee ratio? (I’m not even counting the $2B debt on their books)
Would I be dumb to do a long BTC / short MSTR pair trade?
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why is Bitcoin so divisive? why some people just “get it” and other scream until they are blue in their face it’s a scam? it’s such a curious litmus test for something but I’m not sure exactly what.
to be fair, one side (people with coins) is highly incentivised to preach the gospel. people seem to generally have no shortage of opinions about money/wealth, and hot takes about the topic du jour
Disclaimer: I actually dislike bitcoin (and other proof of work cryptos) very much, but the jury's still out on which side is more correct in their criticism of the other.
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> Bitcoin promotes corruption of the socio-political system via extreme, massive-scale tribalism. Could you elaborate on what you mean and the mechanism for this?
The usual stuff. Political and corporate bribery and extortion. Bitcoin is great for that. Made all the better by the fact that many bribe recipients cannot access their Bitcoins in the current system due to government surveillance of exchanges. This creates an incentive for insiders to take down the current socio-economic system. Just as a short seller has an incentive to see the company crash. They will have no iss…