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What else is there? Bitcoin is an investment, so this is important in the same way that the price of gold climbing like this would be important.

by boybd 7y ago

elil17 7y ago
Bitcoin is meant to be a way of completing payments, not an investment. The use as an investment goes against its primary purpose.
- anm89 7y ago
  Who cares what it's "meant" to be?
- imtringued 7y ago
  You must be pretty behind the times. Most shops have stopped accepting bitcoin because of volatility and high transaction fees. Bitcoin thrives as virtual gold precisely because those two downsides make it useless as a currency.
  - pmorici 7y ago
    That's the primary reason the Bitcoin Core / Bitcoin Cash split 2 years ago now was a difference in opinion about whether or not usage as a payment method mattered. Now you have two competing camps one is pushing the Bitcoin as egold and high fees while the other is pushing Bitcoin as a means of exchange with low fees. The volatility was solved by the payment processors. In any case the big payment processors support both now. The higher than credit card fees though did kill the use of Bitcoin Core as a payment method in ordinary transactions.
- wavepruner 7y ago
  Bitcoin was invented as a way to protect individuals from governments devaluing fiat currency. Payments have always been secondary to this goal. Read Satoshi's white paper.
sagichmal 7y ago
> Bitcoin is an investment Bitcoin fails every imaginable property of investment vehicles.
- deleted 7y ago
  [deleted]
- buboard 7y ago
  we don't really need to have the same discussion ad nauseam . People invest in bitcoin so it must be an investment
  - sagichmal 7y ago
    People buying Bitcoin aren’t investing just because they think they are.
  - panarky 7y ago
    > ad nauseam Exactly. Every cryptocurrency discussion is an Eternal September [0] that recycles the same, tired, 10-year-old arguments. Pretty soon some smart guy will pop up to educate us on the Dutch tulip mania of 1637, how Bitcoin isn't "backed" by anything, or how the US dollar is "backed" by taxes and the military. [0] https://en.wikipedia.org/wiki/Eternal_September https://en.wikipedia.org/wiki/Eternal_September

What else is there? Bitcoin is an investment, so this is important in the same way that the price of gold climbing like this would be important.

by boybd 7y ago

What else is there? Bitcoin is an investment, so this is important in the same way that the price of gold climbing like this would be important.

elil17 7y ago

Bitcoin is meant to be a way of completing payments, not an investment. The use as an investment goes against its primary purpose.

anm89 7y ago
Who cares what it's "meant" to be?
imtringued 7y ago
You must be pretty behind the times. Most shops have stopped accepting bitcoin because of volatility and high transaction fees. Bitcoin thrives as virtual gold precisely because those two downsides make it useless as a currency.
- pmorici 7y ago
  That's the primary reason the Bitcoin Core / Bitcoin Cash split 2 years ago now was a difference in opinion about whether or not usage as a payment method mattered. Now you have two competing camps one is pushing the Bitcoin as egold and high fees while the other is pushing Bitcoin as a means of exchange with low fees. The volatility was solved by the payment processors. In any case the big payment processors support both now. The higher than credit card fees though did kill the use of Bitcoin Core as a payment method in ordinary transactions.
wavepruner 7y ago
Bitcoin was invented as a way to protect individuals from governments devaluing fiat currency. Payments have always been secondary to this goal. Read Satoshi's white paper.

sagichmal 7y ago

> Bitcoin is an investment Bitcoin fails every imaginable property of investment vehicles.

deleted 7y ago
[deleted]
buboard 7y ago
we don't really need to have the same discussion ad nauseam . People invest in bitcoin so it must be an investment
- sagichmal 7y ago
  People buying Bitcoin aren’t investing just because they think they are.
- panarky 7y ago
  > ad nauseam Exactly. Every cryptocurrency discussion is an Eternal September [0] that recycles the same, tired, 10-year-old arguments. Pretty soon some smart guy will pop up to educate us on the Dutch tulip mania of 1637, how Bitcoin isn't "backed" by anything, or how the US dollar is "backed" by taxes and the military. [0] https://en.wikipedia.org/wiki/Eternal_September https://en.wikipedia.org/wiki/Eternal_September