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I don't think it's well established that people value Bitcoin for the proof of work. Most of the money in it probably doesn't even understand it at a superfici
by maxerickson 5y ago
I don't think it's well established that people value Bitcoin for the proof of work.
Most of the money in it probably doesn't even understand it at a superficial level.
- not2b 5y agoMost of the money it is from people who have no idea what it is, don't plan to use it for transactions, just think the price in dollars/euros/whatever will go up.
- CRConrad 5y agoNo, most people probably value it for the same reasons any other silly tulip-mania arises: They see the market value rise and rise, other people seem to value it, it's "the hot new thing", and "it's so cool tech, very advanced". But the ones who got the ball rolling -- a (rather weird IMO) intersection between tech nerds and "currency skeptics" / "anti-fiaters" certainly saw (or convinced themselves that they saw) that as its UVP. Sad, really: If only they'd latched on to South Pacific seashells or something, anything else, instead... Heck, what's wrong with leaves, eh? Crypto-"currencies" are a typical Golgafrincham Ark Fleet Ship B scheme.
- maxerickson 5y agoI think a huge portion of the people that 'got the ball rolling' were in on the grift. They didn't do it for the proof of work. They did it for the money!
- ineedasername 5y agoGolgafrincham Ark Fleet Ship B scheme Careful there, those Ship B folks were our ancestors.