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All the Y Combinator companies combined have created value. What has Bitcoin created? I struggle to come up with an answer which isn't overwhelmingly just a w
by onepointsixC 6y ago
All the Y Combinator companies combined have created value.
What has Bitcoin created?
I struggle to come up with an answer which isn't overwhelmingly just a way to fund illicit activities, for which sure there's always been a market, but it's a far cry of it's origins. Who actually uses bitcoin for transactions today other than extortionists hackers and drug dealers? Everyone who owns is just planning to HODL and hope that it will become equivalent to an infinitely high fiat equivalent. Had bitcoin succeeded we wouldn't be talking about insane valuations. We would be using it every day no different from a credit card.
- r3dk1ng 6y agoI am neither a drug dealer nor an extortionist. I used bitcoin to buy a router from Newegg a month ago.
- onepointsixC 6y agoThen you're in the overwhelming minority of bitcoin users.
- hanniabu 6y agoNot at all, you're just wrong.
- akvadrako 6y agoYou paid a $20 transaction fee for a router?
- saalweachter 6y agoPlease, the anecdote alone is worth far more than $20.
- koolba 6y ago> What has Bitcoin created? The biggest impact on the world from bitcoin's creation was not a democratization of finance, it was a widespread mechanism to facilitate payment of blackmail.
- marvin 6y agoBitcoin has pioneered a new asset class that can be transferred over the Internet and is not dependent on a central authority. I don't own any cryptocurrency and can't put a dollar valuation on such an achievement, but it's certainly not an everyday thing.
- PragmaticPulp 6y agoBitcoin didn't create that. Whoever was behind Satoshi Nakamoto created that. And then it was duplicated across 1000s of other coins. The only advantage Bitcoin has in 2021 is that it was the first and most famous.
- vultour 6y agoCreated? Oh it's still creating - pollution.
- rkagerer 6y agoWho actually uses bitcoin for transactions today? I used it to buy the phone I'm typing this on: https://news.ycombinator.com/item?id=25598831 https://news.ycombinator.com/item?id=25598831 Despite the run-up since, I'm still happy with that transaction!