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We are perfectly capable to decide what is better because it isn't magic. For every gain, somebody literally has to lose. All crypto money is just other people

We are perfectly capable to decide what is better because it isn't magic. For every gain, somebody literally has to lose. All crypto money is just other people's money. The people who win are vocal. The people who lose, stay silent, often in shame And even if you disagree, those gains are not worth the destruction of our planet.

twelve40 5y ago
To play devil's advocate, the fact that it's someone's money and people are losing it doesn't automatically mean better or worse. For example, Netflix bankrupted Blockbuster and people lost money but it is clearly "better". I guess we're just still waiting for a popular use case, outside of crime, speculation and money transfers to places with no infrastructure.
- secondaryacct 5y ago
  You cant compare two companies providing service to millions of people worldwide with a completely dead transaction !! Yes there are winner and losers in useful business, but when someone times the btc market better than someone else, what has the universe naturally selected ? A better degenerate gambler ?
- louwrentius 5y ago
  Come on, be better than this. This isn't about companies being made obsolete, this is about regular people losing a lot of money because they didn't understand the risks. They trusted some acquaintance or some family member and now they are ffed.
koonsolo 5y ago
Have you seen the price of bitcoin evolve? We recently had 2 all time highs again. You must be really stupid to lose money on that.
- louwrentius 5y ago
  hindsight is 20/20
  - koonsolo 5y ago
    The parent commentor said the losers keep quiet. But in this market, it's really hard to be a loser.
    - SuoDuanDao 5y ago
      It's actually quite easy, you just have to stay out of the market. But contrary to the parent commentor, those people have no problem being vocal about their investment decisions!
      - koonsolo 5y ago
        Your value is always in some sort of market. Or do you think fiat is not in a market? Anyway, when you keep it in cash, you're one of the losers as the current high inflation is clearly indicating.
        SuoDuanDao 5y ago
        I'm saying the best way to be a loser in the crypto market is to stay out of crypto entirely. And pointing out that people who make that decision aren't typically quiet about it at all.
        koonsolo 5y ago
        Ah sorry I misinterpreted your response :).
wyager 5y ago
The people losing money to bitcoin are bagholders in inferior monetized assets like USD, real estate, etc. It's still a net gain for society though - introducing good hard money is extremely positive-sum.
- AlexandrB 5y ago
  If a particularly powerful solar flare knocks out the internet for a couple of weeks my real estate investment will still keep me housed. Your bitcoin asset will do... what? Even USD (at least in physical form) is more useful in a crisis. I can put it in my pocket and trade it with the guy down the street for food/water (under the assumption that the government won't collapse). The amount of high-tech, fragile infrastructure bitcoin needs to function correctly is astounding. The entire idea of bitcoin being superior to traditional currencies depends on the idea that nothing really bad will ever happen again.
  - wyager 5y ago
    > If a particularly powerful solar flare knocks out the internet for a couple of weeks You'd have more serious problems than cash liquidity. > USD (at least in physical form) is more useful Which is what, like a low single digit percent of USD? Most people I know don't even have a couple days' worth of paper USD. > fragile infrastructure Internet isn't fragile at all. It's extremely robust, especially for relatively low-bandwidth applications like bitcoin. It's certainly more robust than the card payment networks most people rely on. > bitcoin being superior to traditional currencies depends on the idea that nothing really bad will ever happen again Anything "really bad" enough to nuke bitcoin will probably also kill you and almost certainly tank the value of USD paper.

twelve40 5y ago

To play devil's advocate, the fact that it's someone's money and people are losing it doesn't automatically mean better or worse. For example, Netflix bankrupted Blockbuster and people lost money but it is clearly "better". I guess we're just still waiting for a popular use case, outside of crime, speculation and money transfers to places with no infrastructure.

secondaryacct 5y ago
You cant compare two companies providing service to millions of people worldwide with a completely dead transaction !! Yes there are winner and losers in useful business, but when someone times the btc market better than someone else, what has the universe naturally selected ? A better degenerate gambler ?
louwrentius 5y ago
Come on, be better than this. This isn't about companies being made obsolete, this is about regular people losing a lot of money because they didn't understand the risks. They trusted some acquaintance or some family member and now they are ffed.

koonsolo 5y ago

Have you seen the price of bitcoin evolve? We recently had 2 all time highs again. You must be really stupid to lose money on that.

louwrentius 5y ago
hindsight is 20/20
- koonsolo 5y ago
  The parent commentor said the losers keep quiet. But in this market, it's really hard to be a loser.
  - SuoDuanDao 5y ago
    It's actually quite easy, you just have to stay out of the market. But contrary to the parent commentor, those people have no problem being vocal about their investment decisions!
    - koonsolo 5y ago
      Your value is always in some sort of market. Or do you think fiat is not in a market? Anyway, when you keep it in cash, you're one of the losers as the current high inflation is clearly indicating.
      - SuoDuanDao 5y ago
        I'm saying the best way to be a loser in the crypto market is to stay out of crypto entirely. And pointing out that people who make that decision aren't typically quiet about it at all.
        koonsolo 5y ago
        Ah sorry I misinterpreted your response :).

wyager 5y ago

The people losing money to bitcoin are bagholders in inferior monetized assets like USD, real estate, etc. It's still a net gain for society though - introducing good hard money is extremely positive-sum.

AlexandrB 5y ago
If a particularly powerful solar flare knocks out the internet for a couple of weeks my real estate investment will still keep me housed. Your bitcoin asset will do... what? Even USD (at least in physical form) is more useful in a crisis. I can put it in my pocket and trade it with the guy down the street for food/water (under the assumption that the government won't collapse). The amount of high-tech, fragile infrastructure bitcoin needs to function correctly is astounding. The entire idea of bitcoin being superior to traditional currencies depends on the idea that nothing really bad will ever happen again.
- wyager 5y ago
  > If a particularly powerful solar flare knocks out the internet for a couple of weeks You'd have more serious problems than cash liquidity. > USD (at least in physical form) is more useful Which is what, like a low single digit percent of USD? Most people I know don't even have a couple days' worth of paper USD. > fragile infrastructure Internet isn't fragile at all. It's extremely robust, especially for relatively low-bandwidth applications like bitcoin. It's certainly more robust than the card payment networks most people rely on. > bitcoin being superior to traditional currencies depends on the idea that nothing really bad will ever happen again Anything "really bad" enough to nuke bitcoin will probably also kill you and almost certainly tank the value of USD paper.