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>"given the rarity of bitcoin, why wouldn't people value it?" Because rarity in and of itself doesn't confer value. Or every altcoin would be valuable. >Our ec
by aethertron 10y ago
>"given the rarity of bitcoin, why wouldn't people value it?"
Because rarity in and of itself doesn't confer value. Or every altcoin would be valuable.
>Our economy is built on confidence.
Yes, but not only that. Use of fiat currency is made legally compulsory.
Maybe Bitcoin-demanding ransomware plays a useful role in the BTC economy, as it gives people a negative/fear-based reason to obtain BTC.
- mirimir 10y agoI suspect that it was just that Bitcoin had a head start. Regarding drivers for using Bitcoin, consider that 99% of Bitcoin is now traded in CNY.[0] I doubt that ransomware plays a substantial role there. [0] https://www.bitcoincharts.com/charts/volumepie/ https://www.bitcoincharts.com/charts/volumepie/