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by realradicalwash
1941 days ago
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Bitcoin was created with the use case currency in mind and it was used like that by the earlier adopters. I think this is what OP was pointing at with "Many have forgotten why we used cryptocurrencies in the first place" and certainly with the qualifier "many", I think OP is correct: That's how we initially used Bitcoin and other cryptos. _Now_ many (most?) people use bitcoin as a store of value. But I think this is more out of necessity: Bitcoin as a currency is semi-dysfunctional. > the westerners that seem to be almost rooting for their own society to collapse just to have another reason to use Bitcoin I have not met a single person in my life with that motivation. However, I have met people who want to see the current system collapse, but mainly because it's not working for them. |
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We have already seen it. We know how it goes.
We saw it in the 1920s. It was horrible. It permanently scarred many of our great grandparents, and even left scars on our grandparents (because they grew up learning vivid horror stories of it). Seriously it was so bad that it took multiple generations to recover from.
Then we saw it again to a portion of our financial system just a decade ago. Luckily we learned from our mistakes and prevented total collapse, but we still saw how vulnerable the system is. Everyone here remembers that, it was only a decade ago.
No one wants to see the system collapse. I think what people are really thinking is they want to create a system that theoretically can't collapse. We are aware of how fragile our current banking system is. Crypto originally sought to create a system that removed the two main wildcards in the financial system (the Fed and the Banks).
Now we replaced Wells Fargo with Coinbase. So we aren't much closer to our goal. We replaced NASDAQ with Bittrex. We replaced the Fed with unregulated ICOs and Miners (if that's even a thing anymore).