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If we're just passing money around, why do we need a separate currency at all? Stablecoins already exist, but they're not popular because all of the speculative
by PragmaticPulp 6y ago
If we're just passing money around, why do we need a separate currency at all? Stablecoins already exist, but they're not popular because all of the speculative value has been removed.
Bitcoin's real invention was censorship resistance, by incentivizing distributed miners to arrive at consensus about transactions in a way that no single miner could control. Sadly, that same distributed incentive is responsible for Bitcoin's ever-increasing energy usage.
- osrec 6y agoI think BTC energy consumption is a major issue, as is speed and capacity. I'm actually not sure what real problem BTC is actually solving currently! Also, I don't quite understand your first question. Care to elaborate?
- usehackernews 6y agoIf you’re not sure what real problem bitcoin is solving then you are living in a bubble. 30% of the world unbanked. Bitcoin provides a way for them to store their money.
- osrec 6y agoIf they're unbanked, how do they buy bitcoin? You can't just hand over notes for bitcoin in that many places, can you?
- anon9001 6y agoStablecoins aren't popular? In the last 24 hours, there's been $108B traded. https://www.coingecko.com/en/stablecoins https://www.coingecko.com/en/stablecoins
- hanniabu 6y ago> why do we need a separate currency at all? Stablecoins already exist Monetary policy
- arbol 6y agoStable coins are incredible for cashing gains when you are unsure of future movements. All without having to transact back into fiat. You can then earn generous interest rates on your stable coins (Uniswap, etc.), far higher than any bank currently offers.