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I don’t use Bitcoin because it’s too slow and expensive. Other people do find value in it. Carrying more than $10k in cash is dangerous, and likely to be seize
by injeolmi_love 3y ago
I don’t use Bitcoin because it’s too slow and expensive. Other people do find value in it.
Carrying more than $10k in cash is dangerous, and likely to be seized during international travel.
That’s a list of things people use crypto for. Obviously, if they preferred the non crypto version of those services, they would use them instead.
- robertlagrant 3y agoWhat I mean is I can do all this with my bank: > the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system What's the difference, that is valuable enough to explain the bitcoin price differences?
- injeolmi_love 3y agoWhat’s your bank? I’d like an account there. Every one I’ve checked so far freezes accounts and has a painful process for international wire transfers.
- robertlagrant 3y agoEr. A wire transfer like BACS? You just put in the details, click "yes, I understand this is probably a bad idea" and wait. At least in the UK. But I'm not saying there's zero value to bitcoin's advantages. I'm saying that that in no way explains the price of bitcoin. What explains it is greater fool theory.
- kreetx 3y agoBitcoin's dollar value is just the amount of it in circulation divided by the people interested, the actual number value doesn't really mean anything directly (e.g if there were 100x more of it then the price would be that much less).