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the saddest thing is people see it as a success because its price has gone up. But the entire idea behind it was to be a decentralized currency. Its absolutely
by ffggvv 6y ago
the saddest thing is people see it as a success because its price has gone up.
But the entire idea behind it was to be a decentralized currency. Its absolutely failed at that. What its succeeded at is being a speculative gambling instrument like beanie babies or tulips.
So yes, it's "successful" currently in that its price is going up, but no, no one actually uses or cares about using it as a currency or buys it for any other reason than they think they can sell it to a greater fool sometime later.
wonder what satoshi would think
- tippytippytango 6y agoA failed currency and successful store of value. You win some, you lose some.
- ffggvv 6y agoit’s not a successful store of value. it’s volatility is way too high. the gold price changes but it’s actually not very volatile at all intraday. the volatility of btc isn’t decreasing as the price goes up either. it’s just a succesful speculation instrument as of the current date because it’s at all times high. we’ll see if it stays that way perpetually but that’s not a good store of value.