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Okay... how does bitcoin differ from an unstable traditional currency? Both are subject to high and low swings to inflation and deflation. The one thing bitcoin

Okay... how does bitcoin differ from an unstable traditional currency? Both are subject to high and low swings to inflation and deflation. The one thing bitcoin has not been in its history is stable. This still ends up to being the equivalent to "there are 14 standards, let's make a standard to unify them... there are now 15 standards". Plus, all you described was a currency exchange with an extra step. You could replace bitcoin with rice commodity, wheat futures or Tesla stock and achieve the exact same thing. Again, "redistribute to my pocket" with extra steps. Look, I'm not trying to be a dick, but bitcoin was sold on the lie that it helps poor people. You're not wrong for wanting to help poor people. But people need to come to the realization that bitcoin has been Theranos-like the whole time. It's a waste of time if you're goal is to help the poor.

Torwald 6y ago
In the discussed scenario, Bitcoin is more secure than a traditional currency. The local regime cannot take your Bitcoins away from you, which it could by hyperinflation, reform etc with the traditional currency. In other words, the trust in the owner of the currency is in fact higher. Local gangsters as well, cannot take your Bitcoins away from you as easily. You have a higher chance at keeping your stash.
- jacinabox 6y ago
  > Local gangsters as well, cannot take your Bitcoins away from you as easily. You have a higher chance at keeping your stash. I can see what you're doing, you won't get away with this.
pdpi 6y ago
Ranging 2015—mid 2017, BTC was slowly going up in price, in a nice steady fashion. It wasn’t until late 2017 that things went completely apeshit. At any rate, the price instability is exactly that — unstable. It’s not systematic hyperflation. For when you don’t have access to conventional forex, it’s better than nothing. > You're not wrong for wanting to help poor people. But people need to come to the realization that bitcoin has been Theranos-like the whole time. It's a waste of time if you're goal is to help the poor. Yeah. That’s a large part of why I used to work at a Bitcoin company.

Torwald 6y ago

In the discussed scenario, Bitcoin is more secure than a traditional currency. The local regime cannot take your Bitcoins away from you, which it could by hyperinflation, reform etc with the traditional currency. In other words, the trust in the owner of the currency is in fact higher. Local gangsters as well, cannot take your Bitcoins away from you as easily. You have a higher chance at keeping your stash.

jacinabox 6y ago
> Local gangsters as well, cannot take your Bitcoins away from you as easily. You have a higher chance at keeping your stash. I can see what you're doing, you won't get away with this.

pdpi 6y ago

Ranging 2015—mid 2017, BTC was slowly going up in price, in a nice steady fashion. It wasn’t until late 2017 that things went completely apeshit. At any rate, the price instability is exactly that — unstable. It’s not systematic hyperflation. For when you don’t have access to conventional forex, it’s better than nothing. > You're not wrong for wanting to help poor people. But people need to come to the realization that bitcoin has been Theranos-like the whole time. It's a waste of time if you're goal is to help the poor. Yeah. That’s a large part of why I used to work at a Bitcoin company.