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The amount of fraud is staggering; painting the tape is well-documented when it comes to crypto-currencies. I'm not particularly bullish (or bearish) when it co
by dvt 9y ago
The amount of fraud is staggering; painting the tape is well-documented when it comes to crypto-currencies. I'm not particularly bullish (or bearish) when it comes to BTC, but one thing is obvious: the only value it actually generates is for Russian money-launderers, drug dealers, and other shady agents (hackers, pornographers, etc.)
- cgmg 9y agoOn the contrary. It generates massive value for people living in countries with unstable currencies and governments. I assume you're living comfortably in a country with a stable currency, but not everyone is. http://www.cbc.ca/news/world/venezuela-bitcoin-1.4447568 http://www.cbc.ca/news/world/venezuela-bitcoin-1.4447568
- dvt 9y agoThis is an extreme edge case (and a commonly used, I would say flawed, argument). The great majority of BTC users/miners are not Venezuelans, Zimbabweans, etc. Also, implying that BTC is somehow "stable" is extremely misleading.
- cgmg 9y agoWhy is it a 'flawed' argument? You specifically said 'the only value it actually generates is for X' and I showed that your claim was factually incorrect. Why do you think that is flawed? Because you were wrong?