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There are many different lenses in which one could look at Bitcoin and say that it’s making humanity more productive. One that comes to mind especially for Bit
by aaronwalker 4y ago
There are many different lenses in which one could look at Bitcoin and say that it’s making humanity more productive.
One that comes to mind especially for Bitcoin is that it “could” act as a global store of value, independent of any one geopolitical power. Many countries lack stable and non-corrupt currencies, and many people in those countries cannot trust putting large sums of money in their economy, for fear that they will be taken away from them. If BTC stabilizes in value sufficiently, people in those countries could use it as a store of value—like gold, but easier to obtain. Id argue that the idea of having a digital store of value does increase the productivity of the world, because people don’t have to rely on inefficiently hoarding gold, or paying fees for buying gold in the stock market.
- GeneralMayhem 4y agoLike I said, mining Bitcoin can be argued to be adding value. Pure speculation can't - except via the second-order effect of encouraging more mining - so we shouldn't be surprised when speculators lose their gamble.