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Which is why I never made either statement. GBTC has a $14B market cap. Do any Dogecoin ETFs? No? Then maybe BTC is more than a hobby. It's a serious long-ter

Which is why I never made either statement. GBTC has a $14B market cap. Do any Dogecoin ETFs? No? Then maybe BTC is more than a hobby. It's a serious long-term store of value people are increasingly using as a hedge. A serious currency with commercial and institutional investors. When you understand why Dogecoin doesn't have these things, you'll understand what a "hobby" actually is. > BTC is still hobby money. Can you post a single reason to believe that?

three_seagrass 6y ago
Again, being an asset does not mean something is a useful currency. You keep listing characteristics of assets, like existing in an ETF or having a market cap or having commercial investors. Those are not characteristics of currencies, which are widely accepted, engaged with, and in use by people and organizations in commerce.
- JxLS-cpgbe0 6y ago
  Why is why I never said that > currencies, which are widely accepted, engaged with, and in use by people and organizations in commerce So billions of dollars of institutional trading means BTC is widely accepted, engaged with, and in use by people and organizations in commerce. So, you said it's a currency. That makes no mention of the consumer space, where I bought my widescreen monitor with BTC and pay my friends in BTC with PayPal. Have you heard of PayPal? > BTC is still hobby money. Can you post a single reason to believe that?
  - three_seagrass 6y ago
    >So billions of dollars of institutional trading means BTC is widely accepted, engaged with, and in use by people and organizations in commerce. So, you said it's a currency. This is a straw man. USD is a good currency because it is widely accepted, engaged with, and in use by people and organizations in commerce. BTC is not a good currency because it is not widely accepted, engaged with, and in use by people and organizations in commerce. Even in your paypal example, they first convert your hobby money to USD (a real currency) before commencing the transaction. Having billions traded or invested in it is a characteristic of an asset, which you keep repeating, and not a currency. You're failing to understand this distinction.
    - JxLS-cpgbe0 6y ago
      BTC is widely accepted globally, engaged with, and in use, as currency, by people and organizations in commerce. I've given examples of major institutions that prove all of the above is true. Do you have a single reason to believe it's a hobby currency?
      - three_seagrass 6y ago
        The example you gave has organizations converting to USD, a real currency, before doing any transactions. They're catering to your hobby money but using real money instead.

three_seagrass 6y ago

Again, being an asset does not mean something is a useful currency. You keep listing characteristics of assets, like existing in an ETF or having a market cap or having commercial investors. Those are not characteristics of currencies, which are widely accepted, engaged with, and in use by people and organizations in commerce.

JxLS-cpgbe0 6y ago
Why is why I never said that > currencies, which are widely accepted, engaged with, and in use by people and organizations in commerce So billions of dollars of institutional trading means BTC is widely accepted, engaged with, and in use by people and organizations in commerce. So, you said it's a currency. That makes no mention of the consumer space, where I bought my widescreen monitor with BTC and pay my friends in BTC with PayPal. Have you heard of PayPal? > BTC is still hobby money. Can you post a single reason to believe that?
- three_seagrass 6y ago
  >So billions of dollars of institutional trading means BTC is widely accepted, engaged with, and in use by people and organizations in commerce. So, you said it's a currency. This is a straw man. USD is a good currency because it is widely accepted, engaged with, and in use by people and organizations in commerce. BTC is not a good currency because it is not widely accepted, engaged with, and in use by people and organizations in commerce. Even in your paypal example, they first convert your hobby money to USD (a real currency) before commencing the transaction. Having billions traded or invested in it is a characteristic of an asset, which you keep repeating, and not a currency. You're failing to understand this distinction.
  - JxLS-cpgbe0 6y ago
    BTC is widely accepted globally, engaged with, and in use, as currency, by people and organizations in commerce. I've given examples of major institutions that prove all of the above is true. Do you have a single reason to believe it's a hobby currency?
    - three_seagrass 6y ago
      The example you gave has organizations converting to USD, a real currency, before doing any transactions. They're catering to your hobby money but using real money instead.