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by Mc_Big_G 1960 days ago
The value of Bitcoin doesn't lie in how many transactions it can do per second, nor the cost per transaction.
1 comments

I actually said utility, you said value.

It is also telling that you didn't say what the value actually is. If you do explain that, make sure to mention it relative to other cryptocurrencies that have all the same properties (except for name recognition) but don't have throughput problems because they did what everyone saw coming 8 years ago and allowed larger blocks, faster blocks, or both.

Ok, I'll bite. Bitcoin has a large, distributed network of miners and exchanges who support it, has extremely low inflation approaching zero, has a supply cap of 21 million, is infinitely divisible, has been in the wild for 10 years with zero hacks, can transfer unlimited value (billions/trillions) anywhere in the world for relatively low costs in relatively low time compared to traditional system, and does not require any third-party middle man to approve the transaction, is accessible to anyone in the world regardless of regional laws, and cannot be printed or inflated artificially. I'm sure there's more.

In regards to value relative to other crypto, this is a valid point but ultimately doesn't matter at all. Why does Craigslist still make 100s of millions of dollars every year when it is clearly an inferior product?