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"But the reality is Bitcoin is a political project that threatens to fundamentally disrupt the Davos-led economic system, with everyone from Janet Yellen to Chr
by jariel 6y ago
"But the reality is Bitcoin is a political project that threatens to fundamentally disrupt the Davos-led economic system, with everyone from Janet Yellen to Christine Lagarde expressing fear about its rise and demanding it be regulated."
Enough with the inanity.
BTC's are numbers traded between speculators for no reason other than speculation.
Aside from the potential for money laundering, just ignore it, it's irrelevant.
It's power is it's own PR, generated through ever more ridiculous claims to valuation.
- isitdopamine 6y ago> BTC's are numbers traded between speculators for no reason other than speculation. So are all derivatives.
- jqpabc123 6y agoTrue but most derivatives are based on an asset of some sort with real world value. It is not speculation based solely on the speculation that others will continue to speculate.
- MarkMc 6y agoThis is what worries me about Bitcoin. Right now total exposure to Bitcoin is a tiny fraction of the exposure to derivatives in 2008, but that could change as Bitcoin mania grows. Eventually a sudden drop in the price of Bitcoin could trigger a general economic collapse like in 2008
- ChainOfFools 6y agoIt certainly helps Bitcoin that the press makes no effort to contextualize let alone dissect the crude dimensions by which the success of Bitcoin is measured, namely price and market cap. Bitcoin's market cap is like a building erected specifically to claim an astonishing height record for skyscrapers, but in which the base of the structure consists of a dozen or so real floors topped by a constantly unspooling wire antenna held aloft by a weather balloon 5km up.