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Seems like Bitcoin's main use cases are for 1) accepting payments online for businesses that might not otherwise be authorized to do so (illegal stuff), and 2)
by chrischen 9y ago
Seems like Bitcoin's main use cases are for 1) accepting payments online for businesses that might not otherwise be authorized to do so (illegal stuff), and 2) avoiding currency controls for moving money across borders.
- nwah1 9y agoAgreed. There's no other valid use case. For anything lawful, there's cheaper, more convenient, more stable alternatives and at the end of the day governments demand people pay taxes in their official currencies. If you want to have a house in the US, you need to pay USD to the government. The total land value of the US is conservatively in the tens of trillions, and the total amount of taxation in general, when adding up all the levels of government, is about 40% of GDP. You can talk all day about network effects, but guess which currency is going to get them... the one with trillions in compulsory demand, or the one that does not?