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Started By
Message
re: Crypto bros., why isn't Bitcoin more widely used?
Posted on 4/29/25 at 4:21 pm to GumboPot
Posted on 4/29/25 at 4:21 pm to GumboPot
quote:
why isn't Bitcoin more widely used?
It morphed from a method of transfer to an investment vehicle during its first boom and never returned. It's far too volatile to be anything close to a currency
0
Posted on 4/29/25 at 4:21 pm to GumboPot
It's a stored value type coin, like gold
Other coins and platforms run the utility side of use
Other coins and platforms run the utility side of use
Posted on 4/29/25 at 4:21 pm to GumboPot
quote:
Apparently its easier to mine
So it's easier to create out of thin air?
It is astounding to me that anyone can think that crypto wouldn't have the same exact problems as fiat currency if it became mainstream. Its just dudebros trying to be edgy and getting high on their own farts.
This post was edited on 4/29/25 at 4:23 pm
Posted on 4/29/25 at 4:22 pm to GumboPot
quote:
But how does it go mainstream?
Be less volital.
Imagine you sell a car for a whole bit coin valued at 50k. Next month a bitcoin is worth 45k.
See the problem?
Posted on 4/29/25 at 4:23 pm to Indefatigable
All the stablecoins end up having the same issues as USD, so the cryptrobros don't like them, but that's been shown the only way to have a currency in the modern economy.
Posted on 4/29/25 at 4:23 pm to Indefatigable
quote:
It is astounding to me that anyone can think that crypto wouldn't have the same exact problems as fiat currency if it became mainstream. Its just dudebros trying to be edgy and getting high on their own farts.
A lot of them got rich off their own farts too.
Posted on 4/29/25 at 4:24 pm to GumboPot
quote:
A lot of them got rich off their own farts too.
And this is why it won't be a currency anytime soon.
Posted on 4/29/25 at 4:24 pm to Azkiger
LINK
Don't be laszlo
quote:
On May 22, 2010, Laszlo Hanyecz wrote a pivotal chapter in the history of cryptocurrencies. Back then, he made the first commercial transaction with Bitcoin by paying 10,000 BTC for two pizzas. At the time, this sum was equivalent to just $41, a figure that seemed reasonable for a couple of pizzas.
However, with the evolution and exponential growth of the value of Bitcoin in recent years, the price of that purchase has reached astronomical figures. Today, with Bitcoin fluctuating between $96,000 and $100,000 per unit, those 10,000 BTC would be worth approximately $1 billion. This makes those two pizzas the most expensive in history.
Don't be laszlo
Posted on 4/29/25 at 4:24 pm to SlowFlowPro
quote:
All the stablecoins end up having the same issues as USD,
Because stable coins like Tether are apparently backed by U.S. Treasuries.
Posted on 4/29/25 at 4:25 pm to SlowFlowPro
quote:
All the stablecoins end up having the same issues as USD, so the cryptrobros don't like them, but that's been shown the only way to have a currency in the modern economy.
Stablecoins are going to be massive
Posted on 4/29/25 at 4:26 pm to Azkiger
quote:
Imagine you sell a car for a whole bit coin valued at 50k. Next month a bitcoin is worth 45k.
See the problem?
You are comparing it to the dollar.
If you sell a car for 0.5 BTC you can probably buy the car back next year for 0.4 BTC.
Posted on 4/29/25 at 4:28 pm to GumboPot
BTC is dead. XMR is the future
Posted on 4/29/25 at 4:28 pm to GumboPot
I won't fault them for getting rich off idiots. I'll mock anyone thinking crypto is a viable model going forward though.
Posted on 4/29/25 at 4:32 pm to Indefatigable
Oh there are crypto applications that make sense for things like shipment tracking. But those will all be done on private chains based on forks for specific application purposes and have little to do with the currency applications.
Posted on 4/29/25 at 4:37 pm to GumboPot
quote:
can probably
Bingo. It's volatile. The dollar isn't. It's one gov reg away from taking a huge dive.
Also short tens losses can hit you hard when you have accounts payable due.
This post was edited on 4/29/25 at 4:41 pm
Posted on 4/29/25 at 4:39 pm to GumboPot
Once true quantum computing becomes a thing, all digital currencies become worthless.
Posted on 4/29/25 at 4:39 pm to oklahogjr
quote:
Don't be laszlo
You're right, all these million and billion dollar corporations are just dumb and/or don't want to make money.
What's your net worth again?
Posted on 4/29/25 at 4:41 pm to Indefatigable
Imagine loving banks and credit card companies so much you'd think the way out of it is a racket.
To the OP. It's use case? It's use case cuts out middlemen when moving money. It reduces costs, speeds up transactions, and doesn't require physical location or security. It's use case is exactly what it's doing right now. Be a ledger.
To the OP. It's use case? It's use case cuts out middlemen when moving money. It reduces costs, speeds up transactions, and doesn't require physical location or security. It's use case is exactly what it's doing right now. Be a ledger.
Posted on 4/29/25 at 4:43 pm to Indefatigable
quote:
I'll mock anyone thinking crypto is a viable model going forward though.
You have a rude awakening coming my friend.
People like Jamie Dimon aren't talking about tokenizing securities because they think crypto is not a viable model going forward.
Real Estate will be tokenized as well.
It's unfortunate for you that you haven't taken the time to understand it.
Enjoy being my exit liquidity when you finally FOMO in buying the top.
This post was edited on 4/29/25 at 4:43 pm
Posted on 4/29/25 at 4:45 pm to GumboPot
If you have to work as hard to explain a currency to people as you do with bitcoin (and all crypto in general) it will be hard to get people to trust it. The fact that you can have nothing tangible to prove value is another big knock to overall trust.
The perception of tangible currency is deeply ingrained in our psyche back to the times when we traded rocks and beads.
The perception of tangible currency is deeply ingrained in our psyche back to the times when we traded rocks and beads.
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