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Then why do people not rally against gold? Gold mining uses 10x more resources than Bitcoin mining.

• danaris 5y ago
  I mean, first off, [citation needed], but... Gold has utility. Some of that utility is solidly practical—it is needed in various kinds of manufacturing. Some of it is purely decorative/emotional, but that is still utility. Bitcoin has no utility beyond "make lots of money for the people who got in early". I've been asking for years now, and I've never seen anyone give a valid use case for Bitcoin (and cryptocurrency in general); the answers are invariably along the lines of "you can use it to make money" (that's not a use case, you can literally do that with bottlecaps if you can convince people they're worth something) or "to take monetary power away from the eeeeevil statist oppressors" which is 1) wishful thinking (for reasons I outlined elsewhere in the comments on this article), and 2) not something that most people actually see as a good thing.
  • ArtTimeInvestor 5y ago
    Then why didn't the state of El Salvador settle on bottle caps as their new currency?
    • danaris 5y ago
      Because no one convinced them that they had more value.