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by leaf_mc
3113 days ago
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Who cares? In the grand scheme of things, does it really matter that this bubble pops? I know there are some people out there who'll have invested everything they have in BTC, which will suck for them. However, I'd wager for most people it's still just a fun way to make some spare cash, given that it's actually really difficult to use cryptos on much IRL. We've got a bit more work to do before cryptos start being useful mainstream money, rather than just a volatile investment opportunity. The underlying ideas in blockchain are brilliant, genius even. Journalists should focus more on the interesting potential of this technology, and less on how much 1BTC costs today. |
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Well, I, for one, am not touching it until it crashed because I believe (!) it is currently overvalued. (Tho not sure I'd go with BTC as it stands.) What I also don't like is the impact of cryptocurrency on Co2.
What use is a currency when you can't use it? The most stable currencies in the world are able to be used world-wide.
Betting everything you got on one horse is inherently ignorant btw. Spreading makes sense unless you're sure you're making the right bet (which you can't be). Heck, spreading is the m.i. for VC, including YC. If you burn yourself because you don't spread enough then I don't feel sorry for you.
> The underlying ideas in blockchain are brilliant, genius even.
Yeah, totally genius. All these people using only hot wallets, exchanges getting hacked, 101 ICOs being ponzi schemes, all these people using Bitcoin wallet on their desktop machine which also runs Mirai and what, or un(der)patched Android phone. Its a recipe for disaster. There's a reason why the general population runs their router behind a firewall or NAT, there's a reason why the general population uses experts such as banks to protect their money. Its because they lack the expertise to do it themselves. My argument is that Joe Sixpack doesn't have the expertise to run his own Bitcoin wallet. Even though it might seem very "American way" that he would, does that mean he should?