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That's just the reality of cash, no less in digital form, so it would be naive to think Bitcoin wouldn't inherit the same uses of USD (speculation, money launde
by hombre_fatal 6y ago
That's just the reality of cash, no less in digital form, so it would be naive to think Bitcoin wouldn't inherit the same uses of USD (speculation, money laundering, fraud). It's just not very damning. Though I'm sure various people in the government/Visa would love to ban USD cash with the same demonization.
- nwienert 6y agoNot the reality of cash as cash doesn’t change value like Bitcoin (in either direction), it’s also usually not scarce, and always much easier to use.
- StavrosK 6y agoThe dollar doesn't change value like Bitcoin, not cash as a whole.
- sunshinerag 6y agooh yes it does, it has crashed more than 2000% vs Bitcoin in a decade.
- bluedevil2k 6y agoThat’s completely wrong. You would never say “the US dollar has crashed compared to Microsoft stock“. That’s a dumb comparison to compare a currency to an investment. The dollar has been mostly stable the past 10 years. A gallon of milk is still around $3.50
- sunshinerag 6y agowhy are you comparing a currency (bitcoin) to a stock. USD vs Bitcoin is a comparison of currency.
- nwienert 6y agoBitcoin is a security closer to gold than anything. Limited supply and high cost of production.
- wongarsu 6y agoThe dollar also lost a lot of value when compared to the stock market, or compared to land prices, or to gold.
- nwienert 6y agoWhat we define as a good currency doesn’t. A currency that inflates or deflates dramatically is foundering.
- StavrosK 6y agoSo are we talking about "a good currency", or "cash"? Because the initial comment said "cash".
- zik 6y agoThe value of cash dollars changes all the time. You just don't notice it because you pay for everything in the same dollar denomination. But when everything gets more expensive year by year that's your dollar devaluing. CPI is one measure of that.
- VintageCool 6y agoExcept that cash in USD is also used as a medium of exchange.
- hombre_fatal 6y agoThis is an extremely tiring response. I pay for most things in Bitcoin. I just built a new computer from parts I ordered off of Newegg, paid 100% with Bitcoin. I pay my rent in Bitcoin. I get paid in Bitcoin.
- dang 6y agoPlease make your substantive points without swipes or name-calling. Your comment would be fine without that first bit. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- colinmhayes 6y agoThis is an extremely tiring response. Just because you're a pyscho doesn't mean bitcoin makes sense as a currency. The vast majority of institutions will not accept bitcoin as payment because they realize it's a horrible currency.
- dang 6y agoTaking threads further into flamewar like this will get you banned here. Personal attacks especially. If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and sticking to the rules when posting here, we'd be grateful.
- ricopags 6y agoHow does getting paid in BTC work? Are you set a rate of bitcoin you get paid that amount or do you have a salary in dollars and you get paid whatever btc satisfies that?
- gautamcgoel 6y agoCan you explain how you paid rent in Bitcoin? There's no way my landlord would put up with that!