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I would completely dismiss all cryptocurrencies except Bitcoin. Environmentally friendly is a trick. If it’s pointless, like all other coins, it’s a waste of en

I would completely dismiss all cryptocurrencies except Bitcoin. Environmentally friendly is a trick. If it’s pointless, like all other coins, it’s a waste of energy no matter how efficient it is. Stablecoins are for those that cannot let go of the traditional system. They will all go to zero.

rvz 5y ago
The whole point of Bitcoin is to be a peer-to-peer electronic cash system. Even excusing the fact that it is a wasteful cryptocurrency as demonstrated by the amount of sheer energy it consumes [0], it is a far worse version of VisaNet only handling 7 transactions per second and settlements can take hours. Best part is, its extreme volatile pricing makes it pointless as a 'currency' and completely useless for merchants accepting payments, but perfect as a ponzi scheme. Why do you think not only Stripe has dropped it for payments, but now its somehow 'A store of value' instead of it being an electronic cash system? Therefore 'Bitcoin' (and its blockchain) has failed in each category except for being a Ponzi scheme and is more pointless than the majority of the other blockchains and coins. > Stablecoins are for those that cannot let go of the traditional system. They will all go to zero. I hear that the banks and the payment processors are shaking in their boots over how better Bitcoin is against the 'traditional system' other than for speculation or ponzi schemes. /s [0] https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption
- randomhodler84 5y ago
  I hear all the Canadian banks are down and there might be a Bank run. Let’s see what happens next.
  - rvz 5y ago
    > I hear all the Canadian banks are down and there might be a Bank run. Exactly. The banks are rubbish at this. It's obvious to see how a proper stablecoin being used for the same purpose in Canada, or any other country. After all, it isn't affected by Bitcoin's volatile price in any way which that is also my point. > Let’s see what happens next. I'll tell you what happens next: Bitcoin being likely to lose its value once again due to its extremely volatile nature. Sure, it may go up briefly too but in every scenario (including the Bitcoin donations), they will always want to cash it out to USD (or even a proper stablecoin) rather than 'hold it' or use it as a currency.
    - randomhodler84 5y ago
      Please try to understand where I am coming from. Your still stuck in the infinite inflation world of fiat currencies. It’s like watching someone rearranging deck chairs on a sinking ship. We have life rafts here, you just need to take one of these orange pills.
      - rvz 5y ago
        7 days later. It continues to lose its value. I've already taken the orange pill years ago but sold some at >$60k. It makes even more sense to sell it to (USD, USDC) and buy back in lower.
danlugo92 5y ago
> it’s a waste of energy no matter how efficient it is. If they can consume less electricity than "normal" banking, then they aren't a wast of energy. Bitcoin Lightning will replace SWIFT simple math tells you that, it's never going to zero.
- randomhodler84 5y ago
  Correct! Bitcoin will not go to zero, it will go to infinity. All fiat, stablecoins, eth, “crypto” etc will go to zero.
  - danlugo92 5y ago
    Impossible, there's already enough demand for them that it's just not possible, they might take a nosedive but not go to complete 0.

rvz 5y ago

The whole point of Bitcoin is to be a peer-to-peer electronic cash system. Even excusing the fact that it is a wasteful cryptocurrency as demonstrated by the amount of sheer energy it consumes [0], it is a far worse version of VisaNet only handling 7 transactions per second and settlements can take hours. Best part is, its extreme volatile pricing makes it pointless as a 'currency' and completely useless for merchants accepting payments, but perfect as a ponzi scheme. Why do you think not only Stripe has dropped it for payments, but now its somehow 'A store of value' instead of it being an electronic cash system? Therefore 'Bitcoin' (and its blockchain) has failed in each category except for being a Ponzi scheme and is more pointless than the majority of the other blockchains and coins. > Stablecoins are for those that cannot let go of the traditional system. They will all go to zero. I hear that the banks and the payment processors are shaking in their boots over how better Bitcoin is against the 'traditional system' other than for speculation or ponzi schemes. /s [0] https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption

randomhodler84 5y ago
I hear all the Canadian banks are down and there might be a Bank run. Let’s see what happens next.
- rvz 5y ago
  > I hear all the Canadian banks are down and there might be a Bank run. Exactly. The banks are rubbish at this. It's obvious to see how a proper stablecoin being used for the same purpose in Canada, or any other country. After all, it isn't affected by Bitcoin's volatile price in any way which that is also my point. > Let’s see what happens next. I'll tell you what happens next: Bitcoin being likely to lose its value once again due to its extremely volatile nature. Sure, it may go up briefly too but in every scenario (including the Bitcoin donations), they will always want to cash it out to USD (or even a proper stablecoin) rather than 'hold it' or use it as a currency.
  - randomhodler84 5y ago
    Please try to understand where I am coming from. Your still stuck in the infinite inflation world of fiat currencies. It’s like watching someone rearranging deck chairs on a sinking ship. We have life rafts here, you just need to take one of these orange pills.
    - rvz 5y ago
      7 days later. It continues to lose its value. I've already taken the orange pill years ago but sold some at >$60k. It makes even more sense to sell it to (USD, USDC) and buy back in lower.

danlugo92 5y ago

> it’s a waste of energy no matter how efficient it is. If they can consume less electricity than "normal" banking, then they aren't a wast of energy. Bitcoin Lightning will replace SWIFT simple math tells you that, it's never going to zero.

randomhodler84 5y ago
Correct! Bitcoin will not go to zero, it will go to infinity. All fiat, stablecoins, eth, “crypto” etc will go to zero.
- danlugo92 5y ago
  Impossible, there's already enough demand for them that it's just not possible, they might take a nosedive but not go to complete 0.