Coinbase S-1

> Personally, I think the burden of proof goes the other way.

Well, it's not exactly a brand new experiment, we already know what happens when you have a deflationary store of value alongside fiat currency, and we see that in Gold today. The concept isn't strictly unheard of. I think what's debatable is if the last 70 or so years of gold alongside fiat currencies is sufficient enough information for us to conclude that having things like gold and gold-like assets won't be disastrous to a financial system.

> so far mainly useful for scams, ransomware, market manipulation, money laundering, and other kinds of light financial crime. (Plus speculation of course, but there were plenty of options for that before.)

This is true of paper cash, too. There’s a common saying that if cash were invented today, it would be illegal, since it’s hard for the government to track and they wouldn’t like it, which I find amusingly true. The preponderance of bad people using a tool doesn't immediately render the tool itself bad.

Bitcoin (and crypto) has been around for only 12 years now. Is it perfect? No absolutely not, there are a ton of kinks that need to be ironed out. Costs and speed need to be improved (probably through L2 protocols), we need to find ways to reduce energy consumption and use green energy as much as possible, we need to make sure that the money flowing into schemes like Tether is legitimate. I think the proponents all know that there is still lots of work to be done, and it feels like the detractors think that the adherents don't know that.

What's especially entertaining to me, personally, is that I have no horse in this race; I don't work with or for any crypto institutions and I hold a tiny amount of play BTC/ETH just for curiosity's sake. I am neither a proponent nor a detractor. But the sheer amount of misinformation and strawmen arguments leveled against BTC has has pushed me to seek out the strongest possible arguments in favor of BTC, so thanks for that.

Folks, I give you the cowering voice of the disrupted Industry trying to rationalize it's existence: it's pointless, we already won, time is setting everything in motion now, but ultimately your cause is lost. UBI is going to happen now and global inflation has kicked off since the pandemic, and interest rates are at near 0% if not negative in some countries.

These are the same people that outsourced so many jobs in the 80s and then automated what was left in the 2000s and drowned generations of people in debt and destroyed countless amounts of Human Capital in exchange for their arrogant and psychopathic models of command and controlled economies and they now are asking you to re-consider their exceptional role in Society, which has never been anything but corrupt.

The last to heads of the IMF are a convicted money launderer (Lagarde who still works there now) and a rapist (DSK), do I need to say more? Why do you cancel people on twitter and social media but let these people run free?

You're right to be afraid, but you are to blame for this mess now: so, pull yourself from your bootstraps like you told the rest of us to do when we couldn't make rent to debt based economies and an ever inflating currency which wasted some of the best years of our lives living in fear due to a precarious economy and worse environmental conditions created at behest of these central banks.

I'd like to see you guys do doordash during a pandemic, if that is what it takes as humility and empathy was never a possibility before for you. Hoipefully you deliver to an essential worker and see first hand what actual work looks like as you haven't done it in some time, if it all. If this company is what you thought was such a good idea to back it with billions of capital, so fucking absurd, so go and try and be useful to Society and go work for them!

Downvote away, I seriously don't care about your fake internet points, they honestly mean nothing to me.