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Bitcoin really is different. It's a commodity rather than a security, and proof of work consensus is essential for its use case.

• aoeusnth1 2y ago
  Dollars ultimately have value because the United States government collects taxes in dollars. Who demands Bitcoin, except speculators? It's value is entirely propped up by it's cultural expectation - meme value - with no tether to a real source of demand for BTC.
  • cwalv 2y ago
    Dollars are the currency Bitcoin is most commonly compared against, and for people who have easy access to USD it can be very hard to see how btc has utility. But if you compare to other things (e.g. commodities with a monetary premium, or fiat from a small country), it's much easier to comprehend. It is work to 'get' it tho. All the info is available; I can't make it easier to understand than many others out there already have.
  • int_19h 2y ago
    Anyone who needs to conduct transactions without having their name attached to it, and cannot meet personally to use cash. Online black market purchases, say. You're not wrong that like 99.9% of BTC value is from speculation, but it does have its valid use cases.
  • crimsoneer 2y ago
    It really isn't about taxes, and more about trust and collective faith. The USD isn't backed by cold economic calculation, it's... a big dream we all agree to keep dreaming. And that's mostly fine.