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Is there any evidence that Bitcoin is actually displacing traditional banking? Using BTC for your savings or checking account would be an absolutely terrible i
by lukev 6y ago
Is there any evidence that Bitcoin is actually displacing traditional banking?
Using BTC for your savings or checking account would be an absolutely terrible idea given its volatility. No rational person would ditch traditional banking in favor of Bitcoin.
So really, this is just whataboutism to deflect from the fact that, environmentally speaking, Bitcoin is one of the worst inventions of the century.
- high_priest 6y agoThe "Volatility" is purely temporary because of the market still being built. Eventually, the limited supply will make the currency super-stable and make calculations of actual worth of something super-easy. https://youtube.com/shorts/5jsY7YSJBs4 https://youtube.com/shorts/5jsY7YSJBs4
- lukev 6y agoThe value of Bitcoin is driven almost entirely by speculation. Speculative assets are not known for their stability.
- tanseydavid 6y ago>> No rational person would ditch traditional banking in favor of Bitcoin. There are people who have made arrangements to receive their payroll disbursements in BTC. While there are not many of these people and they probably all still maintain some form of traditional bank account, I am curious if you would define these folks as irrational (by your definition)?
- lukev 6y agoI'll ask you... Bitcoin is a high-risk, aggressive investment by any definition. Which is fine if you believe it and like that sort of thing (other than killing the planet but that's a different question.) Would you define someone who put 100% of their net worth into an aggressive, high-risk investment as irrational?