[smt88]

Here is what Bitcoin does today:

It creates an unregulated, slow, sometimes-anonymous way to transfer USD between parties who distrust one another...

AND

...a vehicle for speculation, not far from gambling.

Basically, it's a way for people to invest in global organized crime and/or speculate about Bitcoin hype.

Does that justify the energy it uses? Not in my opinion, but I don't think its users care.

[oleganza]

> way to transfer USD between parties

There's a bigger world outside the island of U.S. There are more political regimes, tax regimes, banking restrictions and all sorts of uncertainty that needs sound and cheaply stored/secured/transferrable money that would protect a person and their family/community against all these issues.

Just the recent multi-trillion debt expansion is a pointer to that. You can't and you won't store your savings in USD-denominated cash. Your options are either getting in debt and tying yourself to a certain credit institution/jurisdiction, or getting some freedom by exiting into Bitcoin.

[smt88]

That's exactly my point. Bitcoin is useless in the US because we have a relatively stable, universally useful currency. You seem to think the stimulus will cause dramatic inflation, but I doubt it.

For people who want to use USD as a replacement for their unreliable local currency, Bitcoin may be one of the easier ways to hold and trade it.