4 ms·
No, the nature of the value that people see in them is not identical to flowers.
by mcbits 7y ago
No, the nature of the value that people see in them is not identical to flowers.
- pavlov 7y agoWhat other (legal) use is there for Bitcoin than speculation? The original Bitcoin whitepaper calls it an “electronic cash system”, but it’s obviously a total failure at that.
- Karunamon 7y ago...I mean, you can exchange it for goods and services, so “failure” is rather premature.
- Nursie 7y agoNot easily, and almost all situations where you can do so involve one or more intermediaries. It's 10 years in, I think we can call it a failure now.
- Karunamon 7y agoYes, easily. And the existence of an intermediary isn't a disqualifier. You're still sending USD when you send someone USD over Paypal, you're still sending Bitcoin when you send someone Bitcoin over Coinbase. Bitcoin is responsible for moving hundreds of millions of dollars every single day[1]. That is not a reasonable definition of "failure". Similarly, your gran using it is not a singular definition of success. [1]: https://data.bitcoinity.org/markets/price_volume/30d/USD?t=lb&vu=curr https://data.bitcoinity.org/markets/price_volume/30d/USD?t=l...
- pavlov 7y agoPenny stocks have market volume too. The only difference is that penny stocks don’t pretend their trading volume is an indicator of some inherent utility because of a whitepaper ten years ago.
- Karunamon 7y agoCurrencies are not equivalent to securities in their definitions of success or nearly any other way I can conceive of. We just had a legal fight about this definition.