4 ms·
Bitcoin creates the same value as VISA, Paypal and Banbks as a means of transferring money. If transferring money without these middle men is as valuable as a b
by hndamien 9y ago
Bitcoin creates the same value as VISA, Paypal and Banbks as a means of transferring money. If transferring money without these middle men is as valuable as a beanie baby, then please explain the similar utility created?
It is also a fantastic means for storing wealth and moving it without qeustion, but I'll admit that the volatility makes this use case substantially less useful than the payment network which is the true value, regardless of price (so long as it is non-zero).
- nikanj 9y agoHolders of bitcoin do not get value from these transactions. The transaction fees go to the miners, not to people HODLing bitcoin.
- mrhappyunhappy 9y agoEarly adopters are speculating on future value while eventual adopters May use it for its intended purpose.
- hndamien 9y agoEarly adopters think it is sound money.
- hndamien 9y agoThe transaction fees are the cost of the transaction, not the value created.
- erikpukinskis 9y agoHolders of bitcoin provide stability for people doing short term trades (buying coins to send Grandma in Iran). Traders provide the liquidity. Grandma provides the cash to pay off both.