3 ms·

Isn't this what we made btc for

• Kiro 5y ago
  It is but people on Hacker News refuse to acknowledge this because they are angry that they missed out. Techies "who should have known" are embarrassed and jealous so they do everything in their power to dismiss BTC.
  • imtringued 5y ago
    >It is but people on Hacker News refuse to acknowledge this because they are angry that they missed out. Maybe you shouldn't create a money system where it is possible to miss out? The fact that regular working people do not want to subsidize "investors" is a pretty strong incentive to avoid Bitcoin altogether.
    • ephbit 5y ago
      Isn't it a mostly unavoidable characteristic of p2p distributed systems (when they're not introduced top down by governments) that they grow from "practically zero users" to (maybe) mass adoption? I'd think that it's almost inherent for any currency like technology that - over the course of its adoption process - the value goes through various phases of increase. At least for currencies with deflationary supply. There might be blockchain based cryptocurrencies out there that try to prevent early adopters from becoming excessively rich mostly out of luck, but apparently these alternatives lack the incentive to even get to wide adoption. Yes, early adopters would become unfairly rich, were bitcoin to make it to wide adoption ... but something makes me hope that a btc wealth distribution with Gini coefficient close to 1 would be a temporary thing. A phase that the whole thing would pass through towards a less unequal distribution, where the increase in value and thus the aspect of speculation would become less relevant and the aspect of btc as a payment system or value store would become more relevant.