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People kept investing with Bernie Madoff for decades too, because his investments kept giving returns. People will keep shoveling money into Bitcoin as long as
by freehunter 8y ago
People kept investing with Bernie Madoff for decades too, because his investments kept giving returns. People will keep shoveling money into Bitcoin as long as its value keeps swinging wildly. That's hardly a measure of success.
- seibelj 8y agoHow much will Bitcoin have to be worth, and for how long, to make it successful in your eyes? Or is the entire idea of a digital asset with intrinsic value impossible to you?
- SiempreViernes 8y agoSlot machines pull in a lot of money too, I guess you would label them a success?
- seibelj 8y agoUSDC (https://www.circle.com/en/usdc https://www.circle.com/en/usdc) is a dollar-backed cryptocurrency operating on Ethereum. Over $260 million has been converted into USDC, and it is used all over the globe to move small or very large amounts of money securely within seconds (https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0c...). This is a novel application of blockchain technology that is beyond a slot machine.
- freehunter 8y agoIt's not about how much Bitcoin is worth when translated to another currency. It's about how much Bitcoin is worth on its own. How much is Bitcoin worth without translating it to another currency? Schrute Bucks and Stanley Nickels.
- chaoticmass 8y agoThe thing I think is odd about Bitcoin and it's future is how energy intensive it is to run the network. It is known that bitcoin miners use huge amounts of electricity, which costs money, but you can't yet pay your electric bill with bitcoin, nor can you pay taxes in bitcoin. Just seems a bit unsustainable to me.