Bitcoin

Out of context: Reply #2291

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    Maybe I'm just too naive when it comes to cryptocurrency, but are all of these coins anything beyond a bizzaro forex trading platform whose movements are based on memes and twitter posts (or, most likely, based on nothing)?

    I know that bitcoin and the like were originally touted as a "decentralized currency", but considering the volatility, how the hell are you supposed to use it for regular commerce in place of the US dollar or euros or whatever?

    Just looking at last years charts, if you bought inventory for your widget store in April, you'd have to double prices in July to keep in line with price fluctuation. Which would probably put most businesses out of business.

    So, assume that I'm not interested in trading coins to make a buck, or buying shit on the black market. Why would I buy bitcoins to use for regular transactions?

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    • You wouldn't. It's all a scam.grafician
    • I remember people in 1995 asking why anyone would need the internet.Milan
    • ah yes, the famous cryptobros comparison between one of the most useful inventions in history and one of the most uselessgrafician
    • With internet that question was resolved rather immediately. For bitcoin its still open after 12 years.drgs
    • When you compare 1btc against the dollar, you are only looking at it from one direction - that btc has gone up. Perhaps look the other way...shapesalad
    • ...the the FED and other CB's have printed incredible unimaginable amounts of Fiat. Increase supply = lower unit price. Dollar has sunk.shapesalad
    • Bitcoin has a known limited supply. The fluctuations will calm out over time, the more 1btc cost the more it takes to move price, the hard that becomes.shapesalad
    • So to protect yourself from inflation you invest in ponzis? Amazinggrafician
    • Also bitcoin is now heuristically seen as a Gold equivalent. A hedging tool. Not a commonly used currency. That all be SOL or ETH or some such.shapesalad
    • Seen by whom? turkish lira is like 9 against the dollar - real world case of high inflation, while solana is 200?!
      Explain that      grafician
    • to be clear, calculating inflation based on a finite supply "currency" versus the dollar then calling the dollar weak is peak moran crypto bros logicgrafician
    • You definitely shouldn't be buying crypto for "regular transactions" if you live in the states. It's insane.nb
    • comparing with the internet ...lol...neverscared
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