Using BTC to buy stuff

[wxytrader]

But as a medium of exchange, which was its intended purpose, it is practically inert in the real world. Apart from facilitating criminal activity.

Why are you stuck on its intended purpose? Its intended purpose was to decentralize money. It became the defacto store of value, equity finance, ETFs, currency etc.

Same old thing. Show me somebody griping about bitcoin and I'll show you somebody who doesn't have a 2008 Lambo.

 

[Frederick Foresight]

Why are you stuck on its intended purpose? Its intended purpose was to decentralize money. It became something much more important.

But it’s not really doing that, is it? Apart from the criminal element, of course. Talk about proof of concept, eh?

 

[The_Krakenite]

But as a medium of exchange, which was its intended purpose, it is practically inert in the real world. Apart from facilitating criminal activity.

As mentioned, only a woke criminal would do a crime by permanently recording it into a ledger for everyone else to see for eternity. In that case, be HAPPY wokes are doing this. Do you know how much harder it is to track illegal under-the-table fiat crimes?

As for this whole Crypto sucks because you can't trade it to the guy down the street for a sandwich FFS... do you expect to walk down with a block of gold or silver instead and expect him to break that down for you and hand you the sandwich with change?

Precious metal commodities have not lost their store-of-value because the US no longer uses them in bartering transactions.

 

[Frederick Foresight]

As mentioned, only a woke criminal would do a crime by permanently recording it into a ledger for everyone else to see for eternity. In that case, be HAPPY wokes are doing this. Do you know how much harder it is to track illegal under-the-table fiat crimes?

As for this whole Crypto sucks because you can't trade it to the guy down the street for a sandwich FFS... do you expect to walk down with a block of gold or silver instead and expect him to break that down for you and hand you the sandwich with change?

Precious metal commodities have not lost their store-of-value because the US no longer uses them in bartering transactions.

That’s all well and good. But it is not really being used for its intended purpose. Dance around it all you want.

 

[Frederick Foresight]

As mentioned, only a woke criminal would do a crime by permanently recording it into a ledger for everyone else to see for eternity. In that case, be HAPPY wokes are doing this. Do you know how much harder it is to track illegal under-the-table fiat crimes?

And yet it is the medium of choice among certain elements of the criminal class. Go figure.

 

[Slow Learning Elf]

Why are you stuck on its intended purpose? Its intended purpose was to decentralize money. It became the defacto store of value, equity finance, ETFs, currency etc.

Same old thing. Show me somebody griping about bitcoin and I'll show you somebody who doesn't have a 2008 Lambo.

I bought BTC at 350 FWIW and still think crypto is a scam. There are real life use cases that do not involve breaking the law. We had a lot of cheap money, so big part of crypto’s story is just an outlet for that cheap money

 

[Frederick Foresight]

I bought BTC at 350 FWIW and still think crypto is a scam. There are real life use cases that do not involve breaking the law. We had a lot of cheap money, so big part of crypto’s story is just an outlet for that cheap money

Theoretically, sure. But in actual practice, not so much, even after all these years.

 

[wxytrader]

I bought BTC at 350 FWIW and still think crypto is a scam. There are real life use cases that do not involve breaking the law. We had a lot of cheap money, so big part of crypto’s story is just an outlet for that cheap money

OK if bitcoin is a scam then the entire stock market is a scam because bitcoin has outperformed the entire stock market for its entire history.

btw if that's true then here: https://thisinterestsme.com/tools/bitcoin.php

 

[Frederick Foresight]

OK if bitcoin is a scam then the entire stock market is a scam because bitcoin has outperformed the entire stock market for its entire history.

I bet no one ever accused you of being a logician.

 

[Slow Learning Elf]

OK if bitcoin is a scam then the entire stock market is a scam because bitcoin has outperformed the entire stock market for its entire history.

btw if that's true then here: https://thisinterestsme.com/tools/bitcoin.php

LOL. Bitcoin has outperformed gold, T-bonds and pretty much every asset class. It does not make it less of a pyramid scheme unless there is a use case for it besides speculation