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> Virtually nobody is using it for transactions (except for illegal products), for banking, or as an inflation hedge. This is false for almost everyone I know,
by sneak 1y ago
> Virtually nobody is using it for transactions (except for illegal products), for banking, or as an inflation hedge.
This is false for almost everyone I know, when speaking specifically about Bitcoin (which you are).
- Cryptionio 1y agoIts true for everyone I know. I used it only to buy drugs. Friends hold it as a gambling invest.
- broken-kebab 1y agoI used to send money to relatives. I'm sorry you bought supposedly addictive drugs, and I hope you won't do it again. But "I know one guy, and myself" is a very poor argument when you are generalizing.
- tuesdaynight 1y agoBoth of them used the same argument, though. I think that bitcoin has powerful uses (e.g., yours), but the majority of people are not using it for transactions. I'm not saying that it's a bad thing, per se.
- Cryptionio 1y ago[dead]
- deleted 1y ago[deleted]
- ben_w 1y agoThe current limits of Bitcoin *enforce* that "Virtually nobody" uses it — like, uses it at all. It can't scale up to even just the monthly rent and bill payments in just the city limits of Berlin, let alone e.g. people in this city just buying lunch and nothing else anywhere else in the world. The talk about e.g. it being layer-0 and day-to-day stuff being level-1 or whatever, that immediately deletes all the supposed benefits that bitcoin advocates for as it becomes "here is a bank that is backed with BTC just like normal modern ones are backed with fiat and old ones with gold".
- BSOhealth 1y agoabout 400,000 people use bitcoin daily. 0.005% of earth population. but yeah, it’s about the size of a single medium-sized accelerationist Thiel colony participating with each other. like if Cincinnati was raising bonds to convert to a seastead.
- Cthulhu_ 1y agoSo are they using it for transactions? Paying for products and services?
- sneak 1y agoYes, many people I know use it to settle transactions between private parties. I’m not talking about buying drugs on the dark web, either.
- stevage 1y agoThen the people you know are unusual holders of Bitcoin.