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Seeing so many comments (some here, but in general everywhere) still trying to argue and convince people that BTC has no value and you might as well burn your m

Seeing so many comments (some here, but in general everywhere) still trying to argue and convince people that BTC has no value and you might as well burn your money. BTC has been around for a decade, how many more decades does it need to be around before people will admit that hey, maybe, for some reason, this has some sort of value? People still arguing that BTC has no use.. 10 years of usage, adoption, and rising value would seem to offer a different opinion. Is it going to be around forever? Who knows. Maybe it goes bust tomorrow, I don't know. What I do know is this: people are willing to buy it, sell it, and trade for it. The value goes up and down. To me, that makes it a currency that you may be able to invest some money into. Maybe you make some money, maybe you don't. I would even argue BTC falls under the traditional definition of invest, which is: >expend money with the expectation of achieving a profit or material result by putting it into financial schemes, When people buy BTC, they are expecting to achieve a profit. BTC is a financial scheme. Seems fairly cut and dry to me.

pmiller2 7y ago
Ok, what can I buy with BTC vs what can I buy with USD? BTC is useless in comparison. What exactly do people mean when they say they expect to make money on BTC? Do they mean they’ll get more BTC, or that they can sell it for USD or some other currency? Why do you think that is?
- ziddoap 7y ago
  I don't remember saying anything you can buy with USD you can buy with BTC. I never even hinted that BTC was a replacement for USD in any sense. I don't know about everyone else, but here's what I mean when I say you can make money on BTC: Buy low, sell high.
  - pmiller2 7y ago
    You said people were arguing BTC had no use. I’m asking what I can use it for? And, when you say buy low, sell high, low and high relative to what?
    - ziddoap 7y ago
      Do you want a literal list of things you can do with BTC? I feel like your trying to draw me into an argument I never made. I don't think BTC is going to replace USD, I never said it's going to replace USD. But you're in an alternate reality if you don't think people are doing anything with it. What do you think people are doing with BTC? Just buying it and putting it into cold storage forever? And again, your second question is just baiting for an argument I never made. Of course I mean relative to fiat currency, what else would I have meant?
      - pmiller2 7y ago
        Ok, what legitimate, legal use does BTC have where it has an actual advantage over USD, then? If there is none, then that’s what I mean by “BTC is useless.” My second question was getting at precisely the same point: that fiat currency is strictly superior to BTC. If you can’t provide a single legitimate use for it other than as a magical money machine, I would take that as evidence that it’s useless.
        ziddoap 7y ago
        It's odd that if something doesn't have an advantage over something else that it's immediately useless. I also don't know where you think I said that BTC is superior? Something doesn't need to be superior to have a use. Why do you keep moving the goalposts? First, it's completely useless. Now it might have a use, but if it's not superior it might as well be useless. Oh, and now it has to be legal (in the USA? Mexico? Russia?). To indulge you, here's a transfer of 194k BTC for $0.00[1]. How much would your bank charge you for an international wire transfer of a few hundred million dollars or more? [1]https://www.blockchain.com/btc/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204 https://www.blockchain.com/btc/tx/1c12443203a48f42cdf7b1acee...
        pmiller2 7y ago
        No, the goal posts are right where you last saw them; your field goal was just blocked. I am saying that USD is strictly superior to BTC for all legitimate/legal use cases. If you want to hide assets or buy cocaine, BTC might be better, sure. But, otherwise it’s like comparing a 1980s computer to one from today. What use does a 35 year old PC have today other than as a museum piece? You are, in fact, the one who’s being disingenuous here. That 194K BTC transfer is not free if you want to do anything with it. Coinbase would charge you 0.5% on both ends to convert it into fiat currency. You can directly transfer money for 1% already. No advantage. As for “legal,” you know damn well what it means: can I be prosecuted successfully for what I’m about to do? If not, it’s legal.

pmiller2 7y ago

Ok, what can I buy with BTC vs what can I buy with USD? BTC is useless in comparison. What exactly do people mean when they say they expect to make money on BTC? Do they mean they’ll get more BTC, or that they can sell it for USD or some other currency? Why do you think that is?

ziddoap 7y ago
I don't remember saying anything you can buy with USD you can buy with BTC. I never even hinted that BTC was a replacement for USD in any sense. I don't know about everyone else, but here's what I mean when I say you can make money on BTC: Buy low, sell high.
- pmiller2 7y ago
  You said people were arguing BTC had no use. I’m asking what I can use it for? And, when you say buy low, sell high, low and high relative to what?
  - ziddoap 7y ago
    Do you want a literal list of things you can do with BTC? I feel like your trying to draw me into an argument I never made. I don't think BTC is going to replace USD, I never said it's going to replace USD. But you're in an alternate reality if you don't think people are doing anything with it. What do you think people are doing with BTC? Just buying it and putting it into cold storage forever? And again, your second question is just baiting for an argument I never made. Of course I mean relative to fiat currency, what else would I have meant?
    - pmiller2 7y ago
      Ok, what legitimate, legal use does BTC have where it has an actual advantage over USD, then? If there is none, then that’s what I mean by “BTC is useless.” My second question was getting at precisely the same point: that fiat currency is strictly superior to BTC. If you can’t provide a single legitimate use for it other than as a magical money machine, I would take that as evidence that it’s useless.
      - ziddoap 7y ago
        It's odd that if something doesn't have an advantage over something else that it's immediately useless. I also don't know where you think I said that BTC is superior? Something doesn't need to be superior to have a use. Why do you keep moving the goalposts? First, it's completely useless. Now it might have a use, but if it's not superior it might as well be useless. Oh, and now it has to be legal (in the USA? Mexico? Russia?). To indulge you, here's a transfer of 194k BTC for $0.00[1]. How much would your bank charge you for an international wire transfer of a few hundred million dollars or more? [1]https://www.blockchain.com/btc/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204 https://www.blockchain.com/btc/tx/1c12443203a48f42cdf7b1acee...
        pmiller2 7y ago
        No, the goal posts are right where you last saw them; your field goal was just blocked. I am saying that USD is strictly superior to BTC for all legitimate/legal use cases. If you want to hide assets or buy cocaine, BTC might be better, sure. But, otherwise it’s like comparing a 1980s computer to one from today. What use does a 35 year old PC have today other than as a museum piece? You are, in fact, the one who’s being disingenuous here. That 194K BTC transfer is not free if you want to do anything with it. Coinbase would charge you 0.5% on both ends to convert it into fiat currency. You can directly transfer money for 1% already. No advantage. As for “legal,” you know damn well what it means: can I be prosecuted successfully for what I’m about to do? If not, it’s legal.