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It's primary purpose is a store of value that can't be manipulated by the government. It's succeeding wildly at this. There's a lot of extreme Bitcoin hate on
by solosoyokaze 6y ago
It's primary purpose is a store of value that can't be manipulated by the government. It's succeeding wildly at this.
There's a lot of extreme Bitcoin hate on this site, but BTC is helping a ton of people right now, as evidenced by the rapidly increasing demand and money flowing into Bitcoin investment.
- u10 6y agoInstead it's being manipulated by a few large whales.
- solosoyokaze 6y agoFor a decade? There really is no alternative for where to park your money in 2021 unless you want to buy real-estate or stocks both of which come with their own massive set of problems.
- justapassenger 6y agoSo virtual asset, with multiple price swings, much wider than real estate during housing crisis, is the place to park money?
- solosoyokaze 6y agoThe trend has very consistently been for BTC to increase in value (helped by USD decreasing in value). There are only "wide" price swings at very high resolution.
- oarsinsync 6y agoWhat's the major downside of parking 1% of your money in a volatile asset that may or may not yield great returns? (Am long BTC)
- darkstar999 6y agoIt was never meant to be a value store. First sentence of the whitepaper: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution".
- solosoyokaze 6y agoI'm talking about what Bitcoin is, not what the white paper speculated it could become. Descriptive vs. prescriptive.
- afavour 6y ago> BTC is helping a ton of people right now, as evidenced by the rapidly increasing demand and money flowing into Bitcoin investment. Not making a judgement either way on BTC's success but what you've highlighted there isn't evidence. An artificially inflated market based on speculation would show the exact same signs.
- 2pEXgD0fZ5cF 6y ago> a lot of extreme Bitcoin hate on this site I don't think this is the case, it feels more like people here are no longer as easily charmed by the whole buzzword catalogue surrounding bitcoin. This switch from everyone starting a new cryptocurrency and "X, but on blockchain" dominating the discourse towards a more critical view probably just feels more extreme than it really is.
- solosoyokaze 6y agoI don't think there's a community on the internet that is as anti-crypto as HN. At least I've never seen one.