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by 2muchcoffeeman
1027 days ago
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No evidence it’s a scam except all the pump and dump schemes and the exchanges collapsing? And Bitcoin is an asset now? Back in my day we were trying to buy pizzas and beer with it. Bitcoin illustrates the point very well. It’s was supposed to facilitate transactions. Except, there was never ever a plan, or a plan I understood anyway, on how that could be achieved. And now people hoard it like gold. |
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That isn't evidence that bitcoin is a scam either. You can still buy and sell it. None of the crypto I own was effected by the exchanges going bust. The exchanges may well all be scams for all I know, and that would be very bad ... for the people who own exchanges.
Hell, I've even been used Tether - which is clearly a scam - and still gotten a valuable asset out the other side of the transaction. One of the promises of crypto that is holding is nobody has to trust the infrastructure even a little bit for the system to hang together.
Crypto + scam exchanges is more trustworthy than fiat + reputable banks. The reputable banks often turn out to be cardboard cutouts in front of corruption.
> And now people hoard it like gold.
I'm not sure what you're trying to imply with this but yes, people do. They are treating it like an asset. It doesn't matter what people intended for something to do, what it does is what counts. If someone owns a bitcoin they own an asset currently worth around $20k, and with pall the evidence suggesting that it will go on being worth around that much for the next 2 years. Your incredulity doesn't change that.