Someone Said:  If Visa or MasterCard decided tomorrow to create a crypto-style blockchain network with convertible units simply based on currencies, it’s more complex than it sounds, but Bitcoin would immediately disappear from the map.

Community Reaction:  What do you think Bitcoin is for? Do you think the use case is being another Visa? Do some research.

Oh, man.  I am just saying that blockchain was intended for frictionless money transfers that technology can be used elsewhere. Speculation is what is going on though, but because it has 0 intrinsic value, that makes it a big fat stupid bubble.

Bitcoin’s unique use case is not frictionless money transfers (although LN will hopefully enable that). Bitcoin’s unique use case is the ability to put the world on a hard monetary standard.

It is a volatile speculation instrument with no intrinsic value. The idea of transferring money without using swift or banks without fees is the only reason we are even here talking about it. There’s nothing stable about it.

Of course, it’s been volatile, it’s a new invention, but pay close attention and you will notice the volatility is much, much less and will continue to smooth out, back in the day, the moves were 50% or more in both directions.  It’s what you call a maturing asset class.

What authority is behind Bitcoin? I know people see all sorts of conspiracies behind all kinds of companies, countries, coups, currencies, etc. Some of them even have some truth to them. But to think there is the authority behind bitcoin is just so weird. Everything about it is open.

You sound rather pissed that BTC is still not dead. Why is it not going away? What is your strategy when permissionless currency might become a mainstream old man?

Since when is a decade-old technology considered early stages? Let alone “very, very, early stages”.

When you compare to the next hardest money in gold with its 5000+ year history. So, year very early indeed.

Ah, so you’d have bought gold 5,000 years ago? Nice one.  Also, they don’t share the same traits (maybe some like being energy-intensive to mine?) either way so again how is this relevant?

He is sharing with you that gold dominated as the best money for over 5,000 yrs. Bitcoin is replacing it as the Hardest Money for the next 5,000 yrs. So, yeah, it is very early.

Gold was only really used in the form of gold coins first by the Romans around 500BC.  If we’re being generous – so if my maths checks out that’s around 2,500 years. Is either way still not sure how gold is relevant to BTC as it doesn’t share the same features?