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Maybe you are stuck on the track that there has to be a winner. There doesn't have to be a single monetary system. There can be several. And bitcoin has real ut

Maybe you are stuck on the track that there has to be a winner. There doesn't have to be a single monetary system. There can be several. And bitcoin has real utility in a lot of valid scenarios. Not having a central authority is interesting and appealing to many. Deflationary by nature makes it an excellent store of value.

arcticbull 5y ago
> And bitcoin has real utility in a lot of valid scenarios. Let's just wait I'm sure OP will deliver even a single one that isn't crime, regulatory capture or gambling. > Not having a central authority is interesting and appealing to many. Lots of counterproductive things are appealing to lots of people. Rolling coal is appealing to lots of people. Not getting vaccines is appealing to lots of people. That doesn't mean the benefits outweigh the costs socially, and it doesn't mean that it should be legal. > Deflationary by nature makes it an excellent store of value. And that makes it an awful currency. The fact it's a negative-sum MLM which creates no value whatsoever while creating the illusion of wealth is what makes it an awful asset. There's nothing left.
- swader999 5y ago
  Well it just depends how much you trust the entity in control of the money and whether they will allow it for things you want. Will they let you buy a plane ride if it's your tenth trip already this year to see your sick mom in Hawaii? Maybe not, too much carbon. Control of money is control of society, even the individual if you apply a little tech to the mechanics. Trump and Hitler were both elected democratically, are you okay with either of them pulling the strings on the only thing you can exchange for your labour? What about Xi in China with their real life social credit system built by exactly who? Should that regime be trusted with that much control over that much humanity?
- Semaphor 5y ago
  > Let's just wait I'm sure OP will deliver even a single one that isn't crime, regulatory capture or gambling. I’ll bite. Donating to a Ukrainian twitch streamer. PayPal doesn’t allow it, every other option requires entering your credit card details on potentially shady sites. Caveats: This was a few years ago, not sure what the situation is now; Current BTC tx fees make that rather expensive (which may or may not be alleviated by lightning or a cheaper to send crypto).

arcticbull 5y ago

> And bitcoin has real utility in a lot of valid scenarios. Let's just wait I'm sure OP will deliver even a single one that isn't crime, regulatory capture or gambling. > Not having a central authority is interesting and appealing to many. Lots of counterproductive things are appealing to lots of people. Rolling coal is appealing to lots of people. Not getting vaccines is appealing to lots of people. That doesn't mean the benefits outweigh the costs socially, and it doesn't mean that it should be legal. > Deflationary by nature makes it an excellent store of value. And that makes it an awful currency. The fact it's a negative-sum MLM which creates no value whatsoever while creating the illusion of wealth is what makes it an awful asset. There's nothing left.

swader999 5y ago
Well it just depends how much you trust the entity in control of the money and whether they will allow it for things you want. Will they let you buy a plane ride if it's your tenth trip already this year to see your sick mom in Hawaii? Maybe not, too much carbon. Control of money is control of society, even the individual if you apply a little tech to the mechanics. Trump and Hitler were both elected democratically, are you okay with either of them pulling the strings on the only thing you can exchange for your labour? What about Xi in China with their real life social credit system built by exactly who? Should that regime be trusted with that much control over that much humanity?
Semaphor 5y ago
> Let's just wait I'm sure OP will deliver even a single one that isn't crime, regulatory capture or gambling. I’ll bite. Donating to a Ukrainian twitch streamer. PayPal doesn’t allow it, every other option requires entering your credit card details on potentially shady sites. Caveats: This was a few years ago, not sure what the situation is now; Current BTC tx fees make that rather expensive (which may or may not be alleviated by lightning or a cheaper to send crypto).