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Those are value adds for a currency. But the article here is speaking about the core value of a currency. Essentially for an asset to be useful it's value must
by zaphar 6y ago
Those are value adds for a currency. But the article here is speaking about the core value of a currency. Essentially for an asset to be useful it's value must be backed by something and it must be possible to both defend and deploy that asset in a reasonable way. Bitcoin has not yet made the case that is practically useful for anything other than a volatile store of value.
- sushshshsh 6y agoI would say that it has made the case for it based on how many people have used it to exchange value internationally, trustlessly, at a very low cost. Additionally, Bitcoin network is backed by its ability to detect and refuse counterfeit coins. You can do most of the above with Visa or Venmo as well, however you run the risk of tax reporting, transaction reversal, fraud, negligence, changing fees... When Visa works, it works well. But when it fails, it fails in quite bad ways that Bitcoin does not.