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Joined 3 months ago
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Cake day: August 29th, 2024

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  • It’s actually bad for the purposes you listed because of the blockchain being an immutable multiple ledger system of transactions, criminals who use it find themselves unable to launder it unless converting it to another currency or currencies, such as the dutch shuffle where they move USD to banks in Europe then back to the USA.

    BTC is PoW and it has cost a lot of power, that is true, but there are diminishing returns on that which make it uneconomic in many regions where the power costs outweigh the returns. You can use it as a currency without doing any mining yourself.

    Also, literally every currency’s value is based entirely on speculation as an investment opportunity. USD is propped up by foreign banks buying up bonds and reserves, stores only accept payments in the assumption that the value of the dollar will cover more than the cost to sell those goods in the first place.

    All money is fake. One money isn’t more or less fake than the other.








  • I’ve seen USD go up and down 30% compared to other “stable currencies”. Stability of BTC would come from adoption from a larger number of people, after the initial price spike caused by increasing demand.

    I bought some in 2023 for 30k and sold it for 60k over a year later. Right now it’s worth 100k. I don’t think people should by at this high a price range, it’ll probably be much more affordable in a year and spike again later before and after the halvening.

    At some point it’ll be too big to pump or dump, and doing so is already highly illegal in many countries. There’s basically no risk of a person buying in and having it decline to never recover.