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> Bitcoin is ALL market sentiment / vaporware / belief. Sure, but if you take minute to think about it, so are iPhones. They sell because people want them. S
by ur-whale 5y ago
> Bitcoin is ALL market sentiment / vaporware / belief.
Sure, but if you take minute to think about it, so are iPhones.
They sell because people want them.
Supply and demand.
You are then going to tell me about utility.
I claim that:
a) utility is just another way to describe demand
b) cryptos do have utility:
- shielding wealth from govt
- shielding wealth from inflation
- shielding wealth from disgruntled spouses
- moving large quantities of wealth quickly across borders
You might or might now agree with the "morality" of these attributes, but that's neither here nor there: when it comes to economic utility, that's not really a part of the conversation.
- gunshai 5y agoPersonally I am pulling back on the inflation claim. Im not sure that the claim that bitcoin is an inflation hedge is accurate. Or at least I haven't investigated it enough to continue advocating that claim. I'm also not sure that bitcoin does shield wealth from government, at least in the US it doesn't. It certainly does a better job if your government is not the US. The other two claims I agree with. To me the utility of btc is simple. It's the ability to opt into a different and codified monetary policy. That policy is collectively securitized. If I don't agree with the monetary policy of a or any government I can opt I to a system outside of that. Imo this serves as competition to centralized banking.