re: Why are so many ppl still hung up on the “non-physicality” or “non-productivity” of BTC?

It's truly amazing how early we are in crypto. Seasoned investors know nothing about crypto.

Will some of you please learn some stuff about crypto. The black market stuff is from a decade ago. Blockchains are open ledgers. You can trace any transaction to a bank account.

You have to use a mixer like hurricane cash to hide crypto and even then it's still not perfect.

Why doesn't anyone talk about other use cases for crypto outside of spending cash?

One of my favorite things to do in crypto is lend $ for very nice yields. I also provide liquidity in markets for very nice yields. I have bonds from hex.com that destroy the 5% traditional banking is paying.

Think of any banking service imaginable and there is a crypto designed to do it. Gaming, data storage, and all other sorts of things exist on the blockchain. Ethereum and PulseChain are both like app stores allowing you to use tons of decentralized apps.

Do some research. Bitcoin is the oldest coin on the planet. Learn about some others.

Best CNBC take on this discussion.

At least we have moved on from “it’s going to zero” to “growth isnt sustainable”.

Man. Time flys.

Because its highly questionable when something with such limited usefulness shoots up on price

I think you ought to be more open to the idea that usefulness and productivity are important factors in establishing value

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There is already currency for transactions and things that you can purchase that hold their value

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This is very true, but the purpose of BTC is to be transparent and truthful while also being decentralized. It's meant to operate outside of the existing traditional financial transactional system. "Trustless" is the big thing. Right now, if I want to send USD, I have to trust institutional 3rd parties to do this. With BTC and other cryptos, I can directly send money to someone without having to rely on the banking system. It is cryptogrpahically encrypted on my end and verified by a majority of the decentralized network of validators to be a true transaction, which is then inscribed on the immutable blockchain.

You have to understand the mindset of the original cypherpunks that created this stuff. It was a quasi-anarchistic/libertarian reaction to the 2008 banking crisis. They figured if the banks didn't care about the people's money, then why should they care about the banks? They created a system to operate independently from banks. People began to see value in that, and from there it snowballed.

To sidetrack on a political tangent, I have no idea why members of both parties would not like this. Those to the right should see the value of free-market enterprise and freedom, while those to the left should see it as a way to get out from underneath our corporate overlords and be free from "the man."

I have mixed feelings on the power consumption side of things. I've read arguments from both sides of the issue, and I can see where both are coming from.

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And just for full disclosure since I don't ever really say pro-crypto stuff on here, I actually do like the tech and like what Bitcoin could be. But I think a lot of the Bitcoin Bros conveniently ignore what it is in favor of that "could be" a little too much.

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This is my sentiment as well. Crypto seems to be pretty solid conceptually. It very well may be a future currency/ payment method, but hard core crypto guys just disregard every hurdle that could potentially cripple the currency's success. Almost as if they're trying to influence the hype and price upwards with disregard for any and all risk and overhead expenses associated with making it a spendable currency.

I used BTC back in 2015 for some online stuff. Lost what is probably now 7k betting on UNC vs USCe kickoff in 2015.

I don’t really understand how it will keep demand up with anything but FOMO. I also don’t think the billions of people in the East will ever buy into it on a large scale. With that being said, I hope it skyrockets because I know several people who would greatly benefit (if they sold lol)

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This is very true, but the purpose of BTC is to be transparent and truthful while also being decentralized. It's meant to operate outside of the existing traditional financial transactional system. "Trustless" is the big thing. Right now, if I want to send USD, I have to trust institutional 3rd parties to do this. With BTC and other cryptos, I can directly send money to someone without having to rely on the banking system. It is cryptogrpahically encrypted on my end and verified by a majority of the decentralized network of validators to be a true transaction, which is then inscribed on the immutable blockchain.

You have to understand the mindset of the original cypherpunks that created this stuff. It was a quasi-anarchistic/libertarian reaction to the 2008 banking crisis. They figured if the banks didn't care about the people's money, then why should they care about the banks? They created a system to operate independently from banks. People began to see value in that, and from there it snowballed.

To sidetrack on a political tangent, I have no idea why members of both parties would not like this. Those to the right should see the value of free-market enterprise and freedom, while those to the left should see it as a way to get out from underneath our corporate overlords and be free from "the man."

I have mixed feelings on the power consumption side of things. I've read arguments from both sides of the issue, and I can see where both are coming from.

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sure, but the problem is that bitcoin is INSANELY inefficient in performing these tasks

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You have to understand the mindset of the original cypherpunks that created this stuff. It was a quasi-anarchistic/libertarian reaction to the 2008 banking crisis. They figured if the banks didn't care about the people's money, then why should they care about the banks?

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You’re ignoring the fact that it was and is used by dark money and illegal transactions.

And as long as it can trade with value, they will continue to do it.

Guess what tho: they ultimately exchange it for the USD and there’s a reason. The usd is the most stable currency.

Why would you want to support a currency that is used for , and favored by, illegal trade?