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The internet was consistently useful year after year, and more so over time. Bitcoin has been around for almost a decade and has pivoted from being a decentrali
by InclinedPlane 9y ago
The internet was consistently useful year after year, and more so over time. Bitcoin has been around for almost a decade and has pivoted from being a decentralized currency to being a quasi-decentralized store of value amidst a classic speculative investment bubble. It has actually gotten increasingly less useful over time.
- wk2jkhkjdfglsl 9y agoYet, in general, more valuable, thus increasing in usefulness over time. 1 bitcoin in 2018 is objectively more useful than a 2010 bitcoin, as it has more buying power. So I would argue that any deflationary cryptocurrency will more likely be more useful over time as it has increased buying power. (But not necessarily value!)
- InclinedPlane 9y agoThat is such a silly and intellectually dishonest argument. The value of tulips in Feb. 1637 in Amsterdam was also quite high, but that didn't last, neither will bitcoin's valuations.
- a_tractor 9y agoThis argument would maybe start to make sense if Bitcoin was the only cryptocurrency, rather than only the first. Even then, it completely falls apart when you realize that "the internet" also was never about a single piece of technology, but an ecosystem of countless separately developed parts. >It has actually gotten increasingly less useful over time. Is just plain false.