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> Crypto is promising a financial system that has so far appeared to be much more resilient than the traditional system and bitcoin is currently at $30k. What

> Crypto is promising a financial system that has so far appeared to be much more resilient than the traditional system and bitcoin is currently at $30k. What is bitcoin resilient to? Not falling to $0? > We might finally have a technology that can resist financial authoritarianism; there is no body that can stop bitcoin transactions and it is proving itself to be resilient enough for medium-term use. That is a change on the same magnitude as the internet. I don't think that our current financial system fails that often because some transactions were stopped.

roenxi 4y ago
> What is bitcoin resilient to? Not falling to $0? If we cherry pick, say, the Vanguard Long-Term Treasury ETF [0] in the last 3 years it is down 30%. So bitcoin isn't as resilient against value loss US treasuries but we're seeing changes in magnitude in price that is similar to a long term bond ETF. That is a lot better than I expected, and probably a lot of others. Really good performance compared to the gains, I suspect. No obvious counterparty risk, so probably superior to the debt-laden US government in some sense. > I don't think that our current financial system fails that often because some transactions were stopped. Someone is paying for bitcoin to burn a medium country's worth of energy to keep running. That speaks to a certain sincerity in their disagreement with you. [0] https://investor.vanguard.com/investment-products/etfs/profile/vglt https://investor.vanguard.com/investment-products/etfs/profi...