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That doesn't really answer the question "what is the point of it" unless the only point is to create wealth for the people who do have it.

jakupovic 6y ago
"what is the point of it" From bitcoin wiki: Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. The trustless exchange part was worked on for a long time and Bitcoin came around and solved it. This is why questions like that are completely ignorant of anything technology and really makes me question the instigator's motives. Edit: adding a link to an answer provided to the same question on this site https://news.ycombinator.com/item?id=25256738 https://news.ycombinator.com/item?id=25256738
- RobertKerans 6y ago
  I think you're seriously misrepresenting the questioner. People who question the point of it understand that the aim is to be currency. Calling people questioning the point idiots who don't understand technology doesn't answer the question either, it just makes you look like a dick. You're on a forum where the majority of posters have at least a higher-than average understanding of current technologies, so I'm skeptical that you have a much deeper understanding than most of them. And even if that is the case, what you're saying is just rude. There are negative stereotypes surrounding bitcoin enthusiasts that you are playing into very successfully here.
  - jakupovic 6y ago
    I didn't call anyone any names, as opposed to what you are doing, and I will not. In any case Bitcoin is here to stay and you will own it, either directly or indirectly, but it's not going away. So questioning it's idea of existence doesn't further the conversation, I'm sorry, but it really makes the questioner seem ignorant. It's the same question being asked since 2011, when does it stop?
    - RobertKerans 6y ago
      Nobody's questioning it exists. This is a wilful misrepresentation of why people have issues with it -- the reason why I got pissed with the things you've written is that they match the stereotype bitcoin enthusiast speil almost to a tee. I can understand why it exists, and what the value proposition is, and what it promises, and still question what the point of it is because there are huge glaring issues with it. > when does it stop It doesn't, because of the very obvious problems with it as a currency vs. existing currencies. If those magically go away, then people will stop questioning it. As it is, there is very little sign of that ocurring. There is no disconnect there, no hidden motives. People use currency. Do the benefits of bitcoin outweigh what seem like huge downsides? Quoting the technical underpinnings of it as if it's some slam dunk -- how do you seriously think this persuades people? Edit: also this > The problem that you and others like you have is you don't have any BTC and now are struggling to understand why anyone else would have any. I think it's mostly from the fact you didn't get any when you should have and now there is no reason as it's expensive and again you don't have any. Simple really. This reads as the reason people people have problems with it is envy, that they didn't buy some before it skyrocketed in value, and they now can't buy any.
      - jakupovic 6y ago
        I'll respond only to the last part. My post was made in fun and I didn't mean to offend anyone, maybe accost them a bit. The initial poster I was replying too did say that they had access to bitcoin and could/should have kept some as do most of us hence the post. The subsequent replying was made to explain, poorly it seems, why it's useful.

jakupovic 6y ago

"what is the point of it" From bitcoin wiki: Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. The trustless exchange part was worked on for a long time and Bitcoin came around and solved it. This is why questions like that are completely ignorant of anything technology and really makes me question the instigator's motives. Edit: adding a link to an answer provided to the same question on this site https://news.ycombinator.com/item?id=25256738 https://news.ycombinator.com/item?id=25256738

RobertKerans 6y ago
I think you're seriously misrepresenting the questioner. People who question the point of it understand that the aim is to be currency. Calling people questioning the point idiots who don't understand technology doesn't answer the question either, it just makes you look like a dick. You're on a forum where the majority of posters have at least a higher-than average understanding of current technologies, so I'm skeptical that you have a much deeper understanding than most of them. And even if that is the case, what you're saying is just rude. There are negative stereotypes surrounding bitcoin enthusiasts that you are playing into very successfully here.
- jakupovic 6y ago
  I didn't call anyone any names, as opposed to what you are doing, and I will not. In any case Bitcoin is here to stay and you will own it, either directly or indirectly, but it's not going away. So questioning it's idea of existence doesn't further the conversation, I'm sorry, but it really makes the questioner seem ignorant. It's the same question being asked since 2011, when does it stop?
  - RobertKerans 6y ago
    Nobody's questioning it exists. This is a wilful misrepresentation of why people have issues with it -- the reason why I got pissed with the things you've written is that they match the stereotype bitcoin enthusiast speil almost to a tee. I can understand why it exists, and what the value proposition is, and what it promises, and still question what the point of it is because there are huge glaring issues with it. > when does it stop It doesn't, because of the very obvious problems with it as a currency vs. existing currencies. If those magically go away, then people will stop questioning it. As it is, there is very little sign of that ocurring. There is no disconnect there, no hidden motives. People use currency. Do the benefits of bitcoin outweigh what seem like huge downsides? Quoting the technical underpinnings of it as if it's some slam dunk -- how do you seriously think this persuades people? Edit: also this > The problem that you and others like you have is you don't have any BTC and now are struggling to understand why anyone else would have any. I think it's mostly from the fact you didn't get any when you should have and now there is no reason as it's expensive and again you don't have any. Simple really. This reads as the reason people people have problems with it is envy, that they didn't buy some before it skyrocketed in value, and they now can't buy any.
    - jakupovic 6y ago
      I'll respond only to the last part. My post was made in fun and I didn't mean to offend anyone, maybe accost them a bit. The initial poster I was replying too did say that they had access to bitcoin and could/should have kept some as do most of us hence the post. The subsequent replying was made to explain, poorly it seems, why it's useful.