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0 pointscoralreef4y ago0 comments

Yeah, people keep saying that.

And year after year it sets higher lows, and new highs.

Transactions go up, users go up, dollar value goes up. New technology like lightning gets developed, it gets cheaper/faster (https://bitcoinvisuals.com/lightning).

But hey, the price is down 50% this year, so we can call it a failure.

0 comments

Ma8ee4y ago

Oh, no one is questioning its success as a pyramid scheme. In that regard it is extraordinary successful. It is all the widespread actual use that still is missing. (And I’m sure you can provide some anecdotes about someone using it a lot, but that doesn’t change the data.)

coralreefOP4y ago

Here's a coinbase user graph, looks like nice growth to me. https://backlinko.com/coinbase-users#coinbase-users

One use case is digital gold. Gold is a ~$12tr market. While gold is a nice conductor and looks good in jewelry, most of gold's value is attributed to store of value and hedge against inflation.

Bitcoin does what gold does, but better. It simply needs time to catch up, but yes, the use case is ironically buying Bitcoin and sitting on it to preserve monetary value from debasement.

Ma8ee4y ago

What, that they have 6 million active users per month? Is that supposed to be a high number? And those are the number of people who trade with bitcoins, not people actually “using” them for anything.

Gold is also volatile, but not nearly as bad as cryptocurrencies. And since gold actually has uses, it exists at least some kind of backstop for its value. I expect Bitcoins value to eventually become zero.

So how is Bitcoin doing better what gold is doing?

1 more reply

BrissyCoder4y ago

https://www.youtube.com/watch?v=5XMFEUNut18

Watch this and tell me they're not about to run out of greater fools.

j / k navigate · click thread line to collapse

0 pointscoralreef4y ago0 comments

Yeah, people keep saying that.

And year after year it sets higher lows, and new highs.

Transactions go up, users go up, dollar value goes up. New technology like lightning gets developed, it gets cheaper/faster (https://bitcoinvisuals.com/lightning).

But hey, the price is down 50% this year, so we can call it a failure.

0 comments

Ma8ee4y ago

coralreefOP4y ago

Here's a coinbase user graph, looks like nice growth to me. https://backlinko.com/coinbase-users#coinbase-users

One use case is digital gold. Gold is a ~$12tr market. While gold is a nice conductor and looks good in jewelry, most of gold's value is attributed to store of value and hedge against inflation.

Bitcoin does what gold does, but better. It simply needs time to catch up, but yes, the use case is ironically buying Bitcoin and sitting on it to preserve monetary value from debasement.

Ma8ee4y ago

So how is Bitcoin doing better what gold is doing?

1 more reply

BrissyCoder4y ago

https://www.youtube.com/watch?v=5XMFEUNut18

Watch this and tell me they're not about to run out of greater fools.

j / k navigate · click thread line to collapse