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by bko 1898 days ago
It's the base layer of payment system. There will be a layer on top of it for things like that. When you split a check on venmo, that money isn't really there until a few days. The venmo system is a few layers removed from the equivalent of Bitcoin..

What Bitcoin provides is sound money with a fixed predictable supply not at the whims of politicians and fed officials. There is no way to increase the supply of Bitcoin by 23% like we had with the us dollar over the last year
2 comments
jfk13 1898 days ago
I would expect "sound money" to have a fairly stable, predictable value in terms of real-world goods and services for which it can be exchanged. I haven't observed that to be the case for Bitcoin.

Being "at the whims of politicians and fed officials" seems in practice to provide much better stability than being at the whims of a horde of reddit "investors" (or a cabal of Chinese miners).

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bigbob2 1898 days ago
> Being "at the whims of politicians and fed officials" seems in practice to provide much better stability than being at the whims of a horde of reddit "investors" (or a cabal of Chinese miners).

Not to mention almost everyone I know who "invests" in crypto does so "at the whims of politicians and fed officials." SEC rulings and the likes.

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TomSwirly 1898 days ago
> There will be a layer on top of it for things like that.

How many monkey butlers will there be?

> What Bitcoin provides is sound money with a fixed predictable supply not at the whims of politicians and fed officials.

A naturally deflationary currency is such a bad idea that every single country went away from them in a fairly short time period.

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