| > Nobody actually uses bitcoin for payment Is anyone else fatigued by repeating the same arguments over and over forever? If I just state them here once maybe we can talk about new ideas (pro or con, doesn't matter). 1) There are no "real" cryptocurrency transactions 2) It's all speculation 3) There's no intrinsic value 4) Tulips I say, TULIPS! 5) If you can't pay taxes with it, it's not "real money" 6) Governments will shut it down 7) Transactions aren't really private 8) Mining uses more energy than entire nations 9) Nobody will ever spend a deflationary currency 10) It's only useful for drugs, assassinations, gambling and ransoms 11) It doesn't scale, not enough transactions per second, blockchain will get too big 12) It's too volatile to be useful 13) Since the exchange rate keeps rising it's not useful for payments 14) Since I can't buy coffee with it it's not useful 15) Since fees are high it's not useful 16) It's a scam, Ponzi, pyramid 17) The "market cap" is (a) too small to be relevant, (b) evidence of a bubble 18) Will never completely replace gold / national currencies / corporations so there's no value 19) There are a lot of shady exchanges that (a) get hacked, (b) steal customer deposits, (c) are secretly insolvent 20) If the cryptography gets broken / bugs or exploits are discovered and the whole thing goes to zero Maybe so many new people are just now getting involved that we keep rehashing a decade of stale thinking? Let's talk about some new ideas! |
As a random example, mining does use more energy than some nations. Why this may be a good thing in a medium of exchange/value store tends to receive somewhat hand wavy responses. If you have a great answer then it might be helpful to share it.