2 ms·

I got rich with Bitcoin, the value in my life has been quite tangible. I live in big house, drive a nice car, I don't have to work unless I want to. This is how

I got rich with Bitcoin, the value in my life has been quite tangible. I live in big house, drive a nice car, I don't have to work unless I want to. This is how I would pretty much define value. Q1. by accepting and preferring BTC as a payment for my services, I was able to retain better value/purchasing power from my labour long-term. By changing my fiat currency to BTC I was able to also increase my purchasing power. Clear value to me. I don't know if this has some externalities and don't care really. My transactions are legal and counterparties have been as happy as people in typical business transactions are. Q2. It doesn't have to exist, it happens to exist and you can choose not to use it. Q3. "Smart contract" is a marketing term and "smart contracts" are not replacing traditional courts in any sensible way. The whole claim is just nonsense (there is much bullshit in crypto).

notwedtm 6y ago
Luck/intelligence != value There are plenty of people who have been ruined by bitcoin as well. The fact that you were either lucky enough to ride the right waves, or smart enough to see the bad ones, does not equate to any value at all.
- pinkybanana 6y ago
  My life has improved a lot thanks to Bitcoin, that equals very objective value for me. Maybe you are talking about "value for society" or something more abstract? Value is very simple concept and Bitcoin obviously provides it to many in rising fiat value. These "doesn't provide value" just seem to throw the commonly used definition out of the window and talk on another definition plane.