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There's plenty of "better than fiat" features of Bitcoin but that wasn't what was being discussed. Ironically, money laundering is not actually a good argument
by Mc_Big_G 6y ago
There's plenty of "better than fiat" features of Bitcoin but that wasn't what was being discussed. Ironically, money laundering is not actually a good argument since Bitcoin is literally one of the most traceable cryptocurrencies.
- loceng 6y agoAnd yet you still need central authorities and real world trust networks, hierarchy, and stability for enforcement. Elon Musk recently tweeted: "Bitcoin is nearly as bs as fiat money" - meaning there's plenty of room for the ideal option.
- Mc_Big_G 6y agoI agree. I never said Bitcoin is perfect and there are cryptocurrencies that cover various use-cases. I think it will prove to be unbeatable as a store of value though, even if the detractors continue to cling to the "it failed as a currency argument". I don't care what it was supposed to be, I only care what it turned out to be.
- loceng 6y agoHow does it maintain as a store of value if no new people buy into it? The money isn't being embedded into Bitcoin, it's being transferred to an earlier adopter or miner.