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Never understood the HN hate for BTC (not crypto as a whole which has plenty of scamming). If after 12 years you don't get it, I suppose you never will. Oh no,
by silentsea90 4y ago
Never understood the HN hate for BTC (not crypto as a whole which has plenty of scamming). If after 12 years you don't get it, I suppose you never will.
Oh no, downvotes. Shocking.
- ProjectArcturis 4y agoIf after 12 years no one can come up with a use for BTC beyond speculation and crime, I suppose they never will.
- silentsea90 4y agoBTC is sound money, even if not yet as widely used for transactions yet. We literally have the worst inflation in 40 years with the likes of Janet Yellen admitting they were wrong about 'transitory inflation', and yet we're good with Central Banks being allowed to dilute money. I encourage you to read about why Bitcoin makes sense as the ultimate store of value that fiat is pegged against. The book called The Bitcoin Standard is a great read.
- ehnto 4y agoI imagine OP was talking about the odd marriage of crypto tech and VC business, which as you also noted, is a shitshow. But even though I do see value in BTC, it is hardly going well, and I don't mean the price.
- silentsea90 4y agoYes and no. I agree it is taking it's time to be used for transactions, but countries adopting it as legal tender is HUGE. So many payment apps (Venmo, Cash app etc) have adopted it as a medium of exchange. I would have liked it to be used more widely and am hopeful that lightning will get us there in due course of time, but I don't know with certainty what that path might look like.
- MrMan 4y agoPOW is what I hate not BTC itself, but they are inextricably linked.