4 ms·
People have been saying this about crypto for 10 years and bitcoin 30x'ed despite all the negativity, with tons of big institutions loading up on it behind the
by strangescript 5y ago
People have been saying this about crypto for 10 years and bitcoin 30x'ed despite all the negativity, with tons of big institutions loading up on it behind the scenes. It's here to stay.
When you buy something at the store, the cashier doesn't question you how you got the money. They don't care. All they know is the currency is the proof that you did something, or sold something that other people valued.
Valuing a unique crypto hash is no more ridiculous than someone valuing a painting, old baseball cards, ancient pottery and all the other random stuff people collect and trade that are nothing more than a decoration.
Well, except crypto completely mobile, easy to exchange and can't be taken from you like all other the assets we have been exchanging since the beginning of time.
- kgraves 5y ago> People have been saying this about crypto for 10 years and bitcoin 30x'ed despite all the negativity, with tons of big institutions loading up on it behind the scenes. It's here to stay. The main goal of bitcoin is to be a decentralised peer to peer cryptocurrency, it has completely failed in its original purpose to become that in 10 years. And when more people realise how inefficient it is in terms of energy, transactions, fees and utility, the quicker the price will go down.
- qualudeheart 5y agoMonero fulfills the original promise of bitcoin.
- kgraves 5y agoRight, so Bitcoin failed in its original purpose then no?
- baby 5y agoWhy are we talking about bitcoin when there are 100 more advanced cryptocurrencies?
- kgraves 5y agoBecause the volatility of bitcoin moves the entire cryptocurrency market, if it falls, all those '100 more advanced cryptocurrencies' fall in value as well. So it's pointless for me to use something like Cardano only for the price of it to fall because of Bitcoin rendering my holdings significantly less than what it was. And don't get me started on Ethereum fees due to congestion and networks like Polygon going down all the time, doesn't seem advanced to me if congestion is still going on.